Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (623,000) $ (1,312,000)
Adjustments to reconcile net loss to net cash    
Amortization of patents 83,000 75,000
Stock-based compensation 161,000 55,000
Loss allocated from equity method investment 674,000 433,000
Unrealized (gain) loss on marketable securities (270,000) 510,000
Deferred tax benefit (153,000) (452,000)
Amortization of operating leases – right of use assets 16,000
Changes in operating asset and liabilities:    
Other current assets 229,000 39,000
Other assets (13,000)
Accounts payable 94,000 31,000
Operating lease obligations (17,000)
Accrued expenses (471,000) (128,000)
NET CASH USED IN OPERATING ACTIVITIES (290,000) (749,000)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Sales of marketable securities 7,671,000 1,100,000
Purchases of marketable securities (9,330,000) (563,000)
Development of patents (524,000)
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES (1,659,000) 13,000
CASH FLOWS FROM FINANCING ACTIVITIES:    
Cash dividends paid (1,191,000) (1,190,000)
Value of shares delivered to fund withholding taxes (83,000) (112,000)
Repurchases of common stock, inclusive of commissions (306,000)
NET CASH USED IN FINANCING ACTIVITIES: (1,580,000) (1,302,000)
NET DECREASE IN CASH AND CASH EQUIVALENTS (3,529,000) (2,038,000)
CASH AND CASH EQUIVALENTS, beginning of period 13,448,000 44,497,000
CASH AND CASH EQUIVALENTS, end of period 9,919,000 42,459,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Interest
Income taxes
NON-CASH FINANCING ACTIVITIES    
Accrued dividend rights on restricted stock units $ 8,000