Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net (loss) income $ (1,312,000) $ 9,451,000
Adjustments to reconcile net (loss) income to net cash used in operating activities:    
Amortization of patents 75,000 74,000
Stock-based compensation 55,000 59,000
Loss from equity investment 433,000 210,000
Unrealized loss on marketable securities 510,000 23,000
Deferred tax expense (benefit) (452,000) 1,724,000
Changes in operating asset and liabilities:    
Royalty receivables (18,692,000)
Other current assets 39,000 32,000
Income taxes payable 890,000
Security deposit 8,000
Accounts payable 31,000 (232,000)
Accrued expenses (128,000) 5,078,000
NET CASH USED IN OPERATING ACTIVITIES (749,000) (1,375,000)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Sales of marketable securities 1,100,000 4,499,000
Purchases of marketable securities (563,000) (2,293,000)
Development of patents (524,000) (8,000)
Convertible note investment (1,000,000)
NET CASH PROVIDED BY INVESTING ACTIVITIES 13,000 1,198,000
CASH FLOWS FROM FINANCING ACTIVITIES:    
Cash dividends paid (1,190,000) (1,206,000)
Value of shares delivered to fund withholding taxes (112,000)
NET CASH USED IN FINANCING ACTIVITIES: (1,302,000) (1,206,000)
NET DECREASE IN CASH AND CASH EQUIVALENTS (2,038,000) (1,383,000)
CASH AND CASH EQUIVALENTS, beginning of period 44,497,000 25,505,000
CASH AND CASH EQUIVALENTS, end of period 42,459,000 24,122,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Interest
Income taxes
NON-CASH FINANCING ACTIVITY    
Accrued dividend rights on restricted stock units $ 10,000