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 ($)
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (1,894,000) $ (1,909,000)
Adjustments to reconcile net loss to net cash used in operating activities    
Amortization of patents 90,000 236,000
Stock-based compensation 313,000 388,000
Loss allocated from equity method investment 1,613,000 1,597,000
Unrealized gain on marketable securities (244,000) (27,000)
Deferred tax (benefit) expense (355,000) (278,000)
Amortization of operating leases – right of use assets 48,000 47,000
Changes in operating assets and liabilities:    
Other current assets 65,000 307,000
Prepaid taxes (131,000)
Security deposit (13,000)
Accounts payable 246,000 (257,000)
Income taxes payable (89,000)
Operating lease obligations (58,000) (52,000)
Accrued expenses (509,000) (572,000)
  NET CASH USED IN OPERATING ACTIVITIES (685,000) (753,000)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Sales of marketable securities 13,582,000 44,488,000
Purchases of marketable securities (11,968,000) (33,138,000)
NET CASH PROVIDED BY INVESTING ACTIVITIES 1,614,000 11,350,000
  CASH FLOWS FROM FINANCING ACTIVITIES:    
Cash dividends paid (2,366,000) (2,371,000)
Value of shares delivered to fund payment of withholding taxes (61,000) (83,000)
Repurchases of common stock, inclusive of commissions and excise tax (1,083,000) (705,000)
NET CASH USED IN FINANCING ACTIVITIES: (3,510,000) (3,159,000)
NET INCREASE IN CASH AND CASH EQUIVALENTS (2,581,000) 7,438,000
CASH AND CASH EQUIVALENTS, beginning of period 16,896,000 13,448,000
CASH AND CASH EQUIVALENTS, end of period 14,315,000 20,886,000
Cash paid during the period for:    
Interest
Income taxes 67,000
NON-CASH FINANCING ACTIVITIES    
Accrued dividend rights on restricted stock units 59,000 22,000
Right of use asset for lease liability $ 75,000 $ 98,000