Annual report pursuant to Section 13 and 15(d)

Statements Of Cash Flows

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Statements Of Cash Flows (USD $)
 12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 8,493,000 $ 19,236,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 9,000 9,000
Stock-based compensation 303,000 402,000
Non-cash consulting fee 5,000  
Source (use) of cash from changes in operating assets and liabilities:    
Royalty receivables 579,000 (1,219,000)
Prepaid insurance 21,000 (19,000)
Security deposits (13,000)  
Deferred tax asset (6,903,000)  
Accounts payable and accrued expenses (527,000) 1,585,000
NET CASH PROVIDED BY OPERATING ACTIVITIES 1,967,000 19,994,000
CASH FLOWS USED IN INVESTING ACTIVITIES: (561,000)  
CASH FLOWS FROM FINANCING ACTIVITIES:    
Dividend paid   (2,593,000)
Value of shares delivered to fund withholding taxes (283,000)  
Repurchase of treasury stock (1,973,000)  
Proceeds from exercises of options and warrants 163,000 925,000
NET CASH (USED IN) FINANCING ACTIVITIES (2,093,000) (1,668,000)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (687,000) 18,326,000
CASH AND CASH EQUIVALENTS, Beginning 21,348,000 3,022,000
CASH AND CASH EQUIVALENTS, Ending 20,661,000 21,348,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Interest      
Taxes $ 123,000 $ 14,000