Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2022
Dec. 31, 2021
CURRENT ASSETS:    
Cash and cash equivalents $ 13,448,000 $ 44,497,000
Marketable securities, at fair value 34,991,000 15,126,000
Prepaid taxes 177,000
Other current assets 348,000 150,000
Total Current Assets 48,964,000 59,773,000
OTHER ASSETS:    
Patents, net of accumulated amortization 1,592,000 1,384,000
Equity investment 7,252,000 2,651,000
Convertible note investment 1,000,000
Operating leases right of use asset 161,000
Security deposits 13,000
Total Other Assets 9,005,000 5,048,000
TOTAL ASSETS 57,969,000 64,821,000
CURRENT LIABILITIES:    
Accounts payable 507,000 459,000
Income taxes payable 115,000 2,952,000
Accrued contingency fees and related costs 137,000
Accrued payroll 317,000 380,000
Other accrued expenses 587,000 180,000
Operating lease obligations, current 79,000
Total Current Liabilities 1,605,000 4,108,000
LONG TERM LIABILITIES:    
Deferred tax liability 1,161,000 554,000
Operating lease obligation, non-current 94,000
TOTAL LIABILITIES 2,860,000 4,662,000
STOCKHOLDERS' EQUITY    
Preferred stock, $0.01 par value; authorized 10,000,000 shares; none issued and outstanding at December 31, 2022 and December 31, 2021
Common stock, $0.01 par value; authorized 50,000,000 shares; 23,863,639 and 23,792,212 shares issued and outstanding at December 31, 2022 and December 31, 2021, respectively 239,000 238,000
Additional paid-in capital 66,939,000 66,361,000
Accumulated deficit (12,055,000) (6,428,000)
Accumulated other comprehensive loss (14,000) (12,000)
TOTAL STOCKHOLDERS’ EQUITY 55,109,000 60,159,000
  TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 57,969,000 $ 64,821,000