Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED BALANCE SHEETS (March 31, 2025 UNAUDITED)

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CONDENSED CONSOLIDATED BALANCE SHEETS (March 31, 2025 UNAUDITED) - USD ($)
Mar. 31, 2025
Dec. 31, 2024
CURRENT ASSETS:    
Cash and cash equivalents $ 12,288,000 $ 13,145,000
Marketable securities, at fair value 26,905,000 27,455,000
Other current assets 194,000 232,000
  TOTAL CURRENT ASSETS 39,387,000 40,832,000
  OTHER ASSETS:    
Patents, net of accumulated amortization 1,589,000 1,205,000
Equity investment 2,875,000 3,337,000
Operating leases right-of-use asset 7,000 27,000
Security deposit 13,000 13,000
  Total Other Assets 4,484,000 4,582,000
  TOTAL ASSETS 43,871,000 45,414,000
CURRENT LIABILITIES:    
Accounts payable 706,000 203,000
Accrued payroll 8,000 292,000
Other accrued expenses 223,000 247,000
Operating lease obligations 7,000 24,000
  Total Current Liabilities 944,000 766,000
  LONG TERM LIABILITIES:    
       Deferred tax liability 226,000 337,000
  TOTAL LIABILITIES 1,170,000 1,103,000
    COMMITMENTS AND CONTINGENCIES (Note G)
  STOCKHOLDERS’ EQUITY    
Preferred stock, $0.01 par value, authorized 10,000,000 shares; none issued and outstanding at March 31, 2025 and December 31, 2024
Common stock, $0.01 par value; authorized 50,000,000 shares; 22,882,109 and 22,961,619 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively 228,000 229,000
Additional paid-in capital 64,365,000 65,455,000
Accumulated deficit (21,892,000) (21,373,000)
TOTAL STOCKHOLDERS’ EQUITY 42,701,000 44,311,000
  TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 43,871,000 $ 45,414,000