Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED BALANCE SHEETS

v3.25.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2025
Dec. 31, 2024
CURRENT ASSETS:    
Cash and cash equivalents $ 7,708,000 $ 13,145,000
Marketable securities, at fair value 29,389,000 27,455,000
Other current assets 166,000 232,000
  TOTAL CURRENT ASSETS 37,263,000 40,832,000
  OTHER ASSETS:    
Patents, net of accumulated amortization 1,516,000 1,205,000
Equity investment 2,242,000 3,337,000
Operating leases right-of-use asset 27,000
Security deposit 13,000 13,000
  Total Other Assets 3,771,000 4,582,000
  TOTAL ASSETS 41,034,000 45,414,000
CURRENT LIABILITIES:    
Accounts payable 220,000 203,000
Accrued payroll 292,000
Other accrued expenses 187,000 247,000
Operating lease obligations 24,000
  Total Current Liabilities 407,000 766,000
  LONG TERM LIABILITIES:      
       Deferred tax liability 105,000 337,000
  TOTAL LIABILITIES 512,000 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 September 30, 2025 and December 31, 2024
Common stock, $0.01 par value; authorized 50,000,000 shares; 22,820,593 and 22,961,619 shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively 228,000 229,000
Additional paid-in capital 63,346,000 65,455,000
Accumulated deficit (23,052,000) (21,373,000)
TOTAL STOCKHOLDERS’ EQUITY 40,522,000 44,311,000
  TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 41,034,000 $ 45,414,000