Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.24.1.1.u2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (920,000) $ (623,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of patents 30,000 83,000
Stock-based compensation 115,000 161,000
Loss allocated from equity method investment 628,000 674,000
Unrealized (gain) loss on marketable securities 20,000 (270,000)
Deferred tax (benefit) expense (147,000) (153,000)
Amortization of operating leases – right of use assets 16,000 16,000
Other current assets (12,000) 229,000
Other assets (13,000)
Accounts payable 181,000 94,000
Operating lease obligations (17,000) (17,000)
Accrued expenses (490,000) (471,000)
  NET CASH USED IN OPERATING ACTIVITIES (596,000) (290,000)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Sales of marketable securities 5,756,000 7,671,000
Purchases of marketable securities (2,494,000) (9,330,000)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES 3,262,000 (1,659,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Cash dividends paid (1,210,000) (1,191,000)
Value of shares delivered to fund payment of withholding taxes (61,000) (83,000)
Repurchases of common stock, inclusive of commissions (186,000) (306,000)
NET CASH USED IN FINANCING ACTIVITIES: (1,457,000) (1,580,000)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 1,209,000 (3,529,000)
CASH AND CASH EQUIVALENTS, beginning of period 16,896,000 13,448,000
CASH AND CASH EQUIVALENTS, end of period 18,105,000 9,919,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Interest
Income taxes
NON-CASH FINANCING ACTIVITIES    
Accrued dividend rights on restricted stock units 32,000 8,000
Right of use asset and lease liability $ 75,000