Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

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CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
Sep. 30, 2022
Dec. 31, 2021
ASSETS   CURRENT ASSETS:    
Cash and cash equivalents $ 21,164,000 $ 44,497,000
Marketable securities, at fair value 27,759,000 15,126,000
Prepaid taxes 336,000 10,000
Other current assets 108,000 140,000
TOTAL CURRENT ASSETS 49,367,000 59,773,000
OTHER ASSETS:    
Patents, net of accumulated amortization 1,675,000 1,384,000
Equity investment 7,661,000 2,651,000
Convertible note investment 1,000,000
Operating leases right of - use asset 177,000
Security deposits 13,000 13,000
Total other assets 9,526,000 5,048,000
TOTAL ASSETS 58,893,000 64,821,000
    LIABILITIES AND STOCKHOLDERS’ EQUITY:   CURRENT LIABILITIES:    
Income taxes payable 4,000 2,952,000
Accounts payable 348,000 459,000
Accrued contingency fees and related costs 35,000 137,000
Accrued payroll 26,000 380,000
Other accrued expenses 327,000 180,000
Operating lease obligation, current 72,000
Total current liabilities 812,000 4,108,000
LONG TERM LIABILITIES:    
  Deferred tax liability 976,000 554,000
  Operating lease obligation, noncurrent 111,000
TOTAL LIABILITIES 1,899,000 4,662,000
STOCKHOLDERS’ EQUITY    
Preferred stock, $0.01 par value, authorized 10,000,000 shares; none issued and outstanding at September 30, 2022 and December 31, 2021
Common stock, $0.01 par value; authorized 50,000,000 shares; 23,727,231 and 23,792,212 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively 237,000 238,000
Additional paid-in capital 66,767,000 66,361,000
Accumulated deficit (9,996,000) (6,428,000)
Accumulated other comprehensive loss (14,000) (12,000)
TOTAL STOCKHOLDERS’ EQUITY 56,994,000 60,159,000
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 58,893,000 $ 64,821,000