Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

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CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
Mar. 31, 2023
Dec. 31, 2022
CURRENT ASSETS:    
Cash and cash equivalents $ 9,919,000 $ 13,448,000
Marketable securities, at fair value 36,920,000 34,991,000
Prepaid taxes 177,000 177,000
Other current assets 119,000 348,000
TOTAL CURRENT ASSETS 47,135,000 48,964,000
OTHER ASSETS:    
Patents, net of accumulated amortization 1,509,000 1,592,000
Equity investment 6,578,000 7,252,000
Operating leases right of - use asset 145,000 161,000
Security deposit 13,000
Total Other Assets 8,245,000 9,005,000
TOTAL ASSETS 55,380,000 57,969,000
CURRENT LIABILITIES:    
Accounts payable 601,000 507,000
Income taxes payable 115,000 115,000
Accrued contingency fees and related costs 96,000
Accrued payroll 139,000 317,000
Other accrued expenses 203,000 587,000
Operating lease obligation, current 79,000 79,000
Total Current Liabilities 1,233,000 1,605,000
LONG TERM LIABILITIES:    
Deferred tax liability 1,008,000 1,161,000
Operating lease obligation, non-current 77,000 94,000
TOTAL LIABILITIES 2,318,000 2,860,000
STOCKHOLDERS’ EQUITY    
Preferred stock, $0.01 par value, authorized 10,000,000 shares; none issued and outstanding at March 31, 2023 and December 31, 2022
Common stock, $0.01 par value; authorized 50,000,000 shares; 23,811,505 and 23,863,639 shares issued and outstanding at March 31, 2023 and December 31, 2022, respectively 239,000 239,000
Additional paid-in capital 67,099,000 66,939,000
Accumulated deficit (14,262,000) (12,055,000)
Accumulated other comprehensive loss (14,000) (14,000)
TOTAL STOCKHOLDERS’ EQUITY 53,062,000 55,109,000
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 55,380,000 $ 57,969,000