Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

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CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
Jun. 30, 2024
Dec. 31, 2023
ASSETS   CURRENT ASSETS:    
Cash and cash equivalents $ 19,939,000 $ 16,896,000
Marketable securities, at fair value 22,660,000 28,571,000
Other current assets 182,000 206,000
  TOTAL CURRENT ASSETS 42,781,000 45,673,000
  OTHER ASSETS:    
Patents, net of accumulated amortization 1,266,000 1,326,000
Equity investment 3,944,000 5,249,000
Operating leases right-of-use asset 59,000 16,000
Security deposit 13,000 13,000
  Total Other Assets 5,282,000 6,604,000
  TOTAL ASSETS 48,063,000 52,277,000
  LIABILITIES AND STOCKHOLDERS’ EQUITY: CURRENT LIABILITIES:    
Accounts payable 206,000 125,000
Accrued payroll 6,000 378,000
Accrued contingency fees and related costs 23,000
Other accrued expenses 120,000 297,000
Operating lease obligation, current 57,000 23,000
  Total Current Liabilities 412,000 823,000
  LONG TERM LIABILITIES:    
  Deferred tax liability 478,000 762,000
  TOTAL LIABILITIES 890,000 1,585,000
  STOCKHOLDERS’ EQUITY    
Preferred stock, $0.01 par value, authorized 10,000,000 shares; none issued and outstanding at June 30, 2024 and December 31, 2023
Common stock, $0.01 par value; authorized 50,000,000 shares; 23,190,110 and 23,553,908 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 232,000 235,000
Additional paid-in capital 67,654,000 67,446,000
Accumulated deficit (20,713,000) (16,989,000)
TOTAL STOCKHOLDERS’ EQUITY 47,173,000 50,692,000
  TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 48,063,000 $ 52,277,000