Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Income Statement [Abstract]    
REVENUE $ 36,029,000
OPERATING EXPENSES:    
Costs of revenue 12,147,000
Professional fees and related costs 809,000 1,500,000
General and administrative 2,778,000 2,501,000
Amortization of patents 316,000 295,000
TOTAL OPERATING EXPENSES 3,903,000 16,443,000
OPERATING INCOME (LOSS) (3,903,000) 19,586,000
  OTHER INCOME    
Interest and dividend income, net 1,020,000 327,000
Gain on conversion of note 271,000
Gain on equity method investment 3,883,000
Net realized and unrealized loss on marketable securities (1,351,000) (173,000)
Total other income, net 3,823,000 154,000
(LOSS) INCOME BEFORE INCOME TAXES AND SHARE OF NET LOSSES OF EQUITY METHOD INVESTEE (80,000) 19,740,000
INCOME TAXES PROVISION:    
Current 2,952,000
Deferred taxes, net 607,000 1,508,000
Total income taxes expense 607,000 4,460,000
(LOSS) INCOME BEFORE SHARE OF NET LOSSES OF EQUITY METHOD INVESTEE: (687,000) 15,280,000
SHARE OF NET LOSSES OF EQUITY METHOD INVESTEE (1,639,000) (999,000)
NET (LOSS) INCOME $ (2,326,000) $ 14,281,000
Basic $ (0.10) $ 0.59
Diluted $ (0.10) $ 0.58
Weighted average common shares outstanding:    
Basic 23,825,917 24,136,821
Diluted 23,825,917 24,530,568
Cash dividends declared per share $ 0.10 $ 0.10
OTHER COMPREHENSIVE LOSS    
Net unrealized holding loss on corporate bonds and notes arising during the year, net of tax $ (2,000) $ (2,000)
COMPREHENSIVE (LOSS) INCOME $ (2,328,000) $ 14,279,000