Annual report pursuant to Section 13 and 15(d)

Statements of Cash Flows

v2.4.0.8
Statements of Cash Flows (USD $)
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income $ 1,016,000 $ 2,626,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Amortization of Patents 1,008,000 9,000
Stock based compensation 390,000 316,000
Non-cash royalty revenue (70,000)   
Source (use) of cash from changes in operating assets and liabilities:    
Royalty receivables (39,000) (15,000)
Other current assets (54,000) (16,000)
Deferred tax asset 535,000 709,000
Accounts payable and accrued expenses (61,000) (956,000)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES 2,725,000 2,673,000
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of patents and other assets (4,463,000)   
Investments (126,000)   
NET CASH USED IN INVESTING ACTIVITIES (4,589,000)   
CASH FLOWS FROM FINANCING ACTIVITIES:    
Value of shares delivered to fund withholding taxes (781,000) (487,000)
Repurchase of treasury stock (1,497,000) (880,000)
Proceeds from exercises of options and warrants 1,097,000 16,000
NET CASH (USED IN) FINANCING ACTIVITIES (1,181,000) (1,351,000)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (3,045,000) 1,322,000
CASH AND CASH EQUIVALENTS, Beginning 21,983,000 20,661,000
CASH AND CASH EQUIVALENTS, Ending 18,938,000 21,983,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid during the years for Interest      
Cash paid during the years for Taxes 352,000 266,000
NON-CASH INVESTING AND FINANCING ACTIVITIES    
Value of shares and warrants issued to purchase patents $ 1,616,000