Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

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CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
Sep. 30, 2023
Dec. 31, 2022
ASSETS   CURRENT ASSETS:    
Cash and cash equivalents $ 20,886,000 $ 13,448,000
Marketable securities, at fair value 23,682,000 34,991,000
Prepaid taxes 308,000 177,000
Other current assets 41,000 348,000
  TOTAL CURRENT ASSETS 44,917,000 48,964,000
  OTHER ASSETS:    
Patents, net of accumulated amortization 1,356,000 1,592,000
Equity investment 5,655,000 7,252,000
Operating leases right-of-use asset 16,000 161,000
Security deposit 13,000
Total Other Assets 7,040,000 9,005,000
TOTAL ASSETS 51,957,000 57,969,000
  LIABILITIES AND STOCKHOLDERS’ EQUITY: CURRENT LIABILITIES:    
Accounts payable 250,000 507,000
Income taxes payable 26,000 115,000
Accrued payroll 1,000 317,000
Other accrued expenses 350,000 587,000
Operating lease obligation, current 23,000 79,000
Total Current Liabilities 650,000 1,605,000
  LONG TERM LIABILITIES:    
Deferred tax liability 883,000 1,161,000
Operating lease obligation, non-current 94,000
TOTAL LIABILITIES 1,533,000 2,860,000
  STOCKHOLDERS’ EQUITY    
Preferred stock, $0.01 par value, authorized 10,000,000 shares; none issued and outstanding at September 30, 2023 and December 31, 2022
Common stock, $0.01 par value; authorized 50,000,000 shares; 23,659,472 and 23,863,639 shares issued and outstanding at September  30, 2023 and December 31, 2022, respectively 236,000 239,000
Additional paid-in capital 67,326,000 66,939,000
Accumulated deficit (17,138,000) (12,055,000)
Accumulated other comprehensive loss (14,000)
TOTAL STOCKHOLDERS’ EQUITY 50,424,000 55,109,000
  TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 51,957,000 $ 57,969,000