Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2023
Dec. 31, 2022
CURRENT ASSETS:    
Cash and cash equivalents $ 16,896,000 $ 13,448,000
Marketable securities, at fair value 28,571,000 34,991,000
Prepaid taxes 177,000
Other current assets 206,000 348,000
Total Current Assets 45,673,000 48,964,000
OTHER ASSETS:    
Patents, net of accumulated amortization 1,326,000 1,592,000
Equity investment 5,249,000 7,252,000
Operating leases right of use asset 16,000 161,000
Security deposits 13,000
Total Other Assets 6,604,000 9,005,000
TOTAL ASSETS 52,277,000 57,969,000
CURRENT LIABILITIES:    
Accounts payable 125,000 507,000
Income taxes payable 115,000
Accrued payroll 378,000 317,000
Other accrued expenses 297,000 587,000
Operating lease obligations, current 23,000 79,000
Total Current Liabilities 823,000 1,605,000
LONG TERM LIABILITIES:    
Deferred tax liability 762,000 1,161,000
Operating lease obligation, non-current 94,000
TOTAL LIABILITIES 1,585,000 2,860,000
STOCKHOLDERS' EQUITY    
Preferred stock, $0.01 par value; authorized 10,000,000 shares; none issued and outstanding at December 31, 2023 and December 31, 2022
Common stock, $0.01 par value; authorized 50,000,000 shares; 23,553,908 and 23,863,639 shares issued and outstanding at December 31, 2023 and December 31, 2022, respectively 235,000 239,000
Additional paid-in capital 67,446,000 66,939,000
Accumulated deficit (16,989,000) (12,055,000)
Accumulated other comprehensive loss (14,000)
TOTAL STOCKHOLDERS’ EQUITY 50,692,000 55,109,000
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 52,277,000 $ 57,969,000