Quarterly report pursuant to Section 13 or 15(d)

Condensed Balance Sheets

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Condensed Balance Sheets (USD $)
Jun. 30, 2011
Dec. 31, 2010
Assets:    
Cash and cash equivalents $ 21,822,000 $ 21,348,000
Royalty Receivable 2,886,000 1,339,000
Other current assets 55,000 89,000
Total current assets 24,763,000 22,776,000
Other assets:    
Security deposits 19,000 6,000
Deferred tax asset 7,000,000  
Patents, net of accumulated depreciation 78,000 83,000
Total other assets 7,097,000 89,000
Total assets 31,860,000 22,865,000
Liabilities:    
Accounts payable 96,000 78,000
Accrued expenses 2,504,000 2,031,000
Income Taxes Payable 9,000 61,000
Total liabilities 2,609,000 2,170,000
Commitments and contingencies    
Stockholders' Equity    
Common stock - $0.01 par value ; authorized 50,000,000 shares;25,977,563 and 25,931,879 shares issued and outstanding at June 30,2011 and December 31,2010, respectively 260,000 259,000
Additional paid-in capital 57,489,000 57,266,000
Accumulated deficit (28,498,000) (36,830,000)
Total stockholders' equity 29,251,000 20,695,000
Total liabilities and stockholder's equity $ 31,860,000 $ 22,865,000