Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED BALANCE SHEETS

v3.25.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2025
Dec. 31, 2024
CURRENT ASSETS:    
Cash and cash equivalents $ 13,424,000 $ 13,145,000
Marketable securities, at fair value 25,061,000 27,455,000
Other current assets 180,000 232,000
  TOTAL CURRENT ASSETS 38,665,000 40,832,000
  OTHER ASSETS:    
Patents, net of accumulated amortization 1,552,000 1,205,000
Equity investment 2,596,000 3,337,000
Operating leases right-of-use asset 27,000
Security deposit 13,000 13,000
  Total Other Assets 4,161,000 4,582,000
  TOTAL ASSETS 42,826,000 45,414,000
CURRENT LIABILITIES:    
Accounts payable 204,000 203,000
Accrued payroll 292,000
Other accrued expenses 173,000 247,000
Operating lease obligations 24,000
  Total Current Liabilities 377,000 766,000
  LONG TERM LIABILITIES:      
       Deferred tax liability 188,000 337,000
  TOTAL LIABILITIES 565,000 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 June 30, 2025 and December 31, 2024
Common stock, $0.01 par value; authorized 50,000,000 shares; 22,844,798 and 22,961,619 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively 228,000 229,000
Additional paid-in capital 64,445,000 65,455,000
Accumulated deficit (22,412,000) (21,373,000)
TOTAL STOCKHOLDERS’ EQUITY 42,261,000 44,311,000
  TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 42,826,000 $ 45,414,000