Annual report [Section 13 and 15(d), not S-K Item 405]

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2024
Dec. 31, 2023
  CURRENT ASSETS:    
Cash and cash equivalents $ 13,145,000 $ 16,896,000
Marketable securities, at fair value 27,455,000 28,571,000
Other current assets 232,000 206,000
  Total Current Assets 40,832,000 45,673,000
  OTHER ASSETS:    
Patents, net of accumulated amortization 1,205,000 1,326,000
Equity investment 3,337,000 5,249,000
Operating leases right of use asset 27,000 16,000
Security deposits 13,000 13,000
  Total Other Assets 4,582,000 6,604,000
  TOTAL ASSETS 45,414,000 52,277,000
CURRENT LIABILITIES:    
Accounts payable 203,000 125,000
Accrued payroll 292,000 378,000
Other accrued expenses 247,000 297,000
Operating lease obligations 24,000 23,000
  Total Current Liabilities 766,000 823,000
LONG TERM LIABILITIES:    
Deferred tax liability 337,000 762,000
TOTAL LIABILITIES 1,103,000 1,585,000
COMMITMENTS AND CONTINGENCIES (See Note I)
STOCKHOLDERS' EQUITY    
Preferred stock, $0.01 par value; authorized 10,000,000 shares; none issued and outstanding at December 31, 2024 and December 31, 2023
  Common stock, $0.01 par value; authorized 50,000,000 shares; 22,961,619 and 23,553,908 shares issued and outstanding at December 31, 2024 and December 31, 2023, respectively 229,000 235,000
  Additional paid-in capital 65,455,000 67,446,000
Accumulated deficit (21,373,000) (16,989,000)
TOTAL STOCKHOLDERS’ EQUITY 44,311,000 50,692,000
  TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 45,414,000 $ 52,277,000