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

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (3,034,000) $ (1,457,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of patents 120,000 266,000
Stock-based compensation 399,000 508,000
Loss allocated from equity investment 1,912,000 2,003,000
Deferred tax benefit (425,000) (399,000)
Amortization of right of use asset, net 64,000 65,000
Unrealized loss (gain) on marketable securities 67,000 (103,000)
  Changes in operating assets and liabilities:    
Other current assets (26,000) 142,000
Prepaid taxes 177,000
Accounts payable 79,000 (382,000)
Income taxes payable (115,000)
Security deposit (13,000)
Operating lease obligations (74,000) (70,000)
Accrued expenses (158,000) (291,000)
NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES (1,076,000) 331,000
CASH FLOWS FROM INVESTING ACTIVITIES:    
Sales of marketable securities 15,250,000 53,521,000
Purchases of marketable securities (14,201,000) (46,984,000)
NET CASH PROVIDED BY INVESTING ACTIVITIES 1,049,000 6,537,000
CASH FLOWS FROM FINANCING ACTIVITIES:    
Cash dividends paid (2,366,000) (2,371,000)
Value of shares delivered to fund withholding taxes (63,000) (83,000)
Repurchases of common stock, inclusive of commissions and excise tax (1,295,000) (966,000)
NET CASH USED IN FINANCING ACTIVITIES (3,724,000) (3,420,000)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (3,751,000) 3,448,000
  CASH AND CASH EQUIVALENTS, beginning of year 16,896,000 13,448,000
CASH AND CASH EQUIVALENTS, end of year 13,145,000 16,896,000
Cash paid during the years for:    
Interest
Income taxes 65,000
  NON-CASH FINANCING ACTIVITY    
Accrued dividend rights on restricted stock units 59,000 65,000
Right-of-use asset for lease liability $ 75,000 $ 80,000