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 ($)
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (1,099,000) $ (2,844,000)
Adjustments to reconcile net loss to net cash    
Amortization of patents 165,000 151,000
Stock-based compensation 267,000 233,000
Loss allocated from equity method investment 1,065,000 788,000
Unrealized (gain) loss on marketable securities (90,000) 808,000
Deferred tax benefit (247,000) (554,000)
Amortization of operating leases – right of use assets 32,000 10,000
Changes in operating assets and liabilities:    
Other current assets 260,000 (89,000)
Security deposit (13,000)
Accounts payable (132,000) 68,000
Income taxes payable (2,833,000)
Operating lease obligations (34,000) (10,000)
Accrued expenses (727,000) (336,000)
  NET CASH USED IN OPERATING ACTIVITIES (553,000) (4,608,000)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Sales of marketable securities 36,106,000 4,004,000
Purchases of marketable securities (30,780,000) (16,283,000)
Development of patents (524,000)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES 5,326,000 (12,803,000)
  CASH FLOWS FROM FINANCING ACTIVITIES:    
Cash dividends paid (1,191,000) (1,195,000)
Value of shares delivered to fund withholding taxes (83,000) (112,000)
Repurchases of common stock, inclusive of commissions (332,000) (247,000)
NET CASH USED IN FINANCING ACTIVITIES: (1,606,000) (1,554,000)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 3,167,000 (18,965,000)
CASH AND CASH EQUIVALENTS, beginning of period 13,448,000 44,497,000
CASH AND CASH EQUIVALENTS, end of period 16,615,000 25,532,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Interest
Income taxes 3,000,000
NON-CASH FINANCING ACTIVITIES    
Accrued dividend rights on restricted stock units 8,000
Right of use asset obtained in exchange for lease liability $ 204,000