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, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (1,578,000) $ (1,099,000)
Adjustments to reconcile net loss to net cash  used in operating activities:    
Amortization of patents 60,000 165,000
Stock-based compensation 210,000 267,000
Loss allocated from equity method investment 1,305,000 1,065,000
Unrealized (gain) loss on marketable securities 52,000 (90,000)
Deferred tax (benefit) expense (284,000) (247,000)
Amortization of operating leases – right of use assets 32,000 32,000
Changes in operating assets and liabilities:    
Other current assets 24,000 260,000
Security deposit (13,000)
Accounts payable 81,000 (132,000)
Operating lease obligations (41,000) (34,000)
Accrued expenses (521,000) (727,000)
  NET CASH USED IN OPERATING ACTIVITIES (660,000) (553,000)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Sales of marketable securities 12,852,000 36,106,000
Purchases of marketable securities (6,993,000) (30,780,000)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES 5,859,000 5,326,000
  CASH FLOWS FROM FINANCING ACTIVITIES:    
Cash dividends paid (1,212,000) (1,191,000)
Value of shares delivered to fund payment of withholding taxes (61,000) (83,000)
Repurchases of common stock, inclusive of commissions (883,000) (332,000)
NET CASH USED IN FINANCING ACTIVITIES: (2,156,000) (1,606,000)
NET INCREASE  IN CASH AND CASH EQUIVALENTS 3,043,000 3,167,000
CASH AND CASH EQUIVALENTS, beginning of period 16,896,000 13,448,000
CASH AND CASH EQUIVALENTS, end of period 19,939,000 16,615,000
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