Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2026
Dec. 31, 2025
ASSETS   CURRENT ASSETS:    
Cash and cash equivalents $ 8,610,000 $ 13,402,000
Marketable securities, at fair value 25,979,000 23,467,000
Other current assets 195,000 237,000
  TOTAL CURRENT ASSETS 34,784,000 37,106,000
  OTHER ASSETS:    
Patents, net of accumulated amortization 1,810,000 1,479,000
Equity investments 2,786,000 1,734,000
Security deposit 13,000 13,000
        Total Other Assets 4,609,000 3,226,000
  TOTAL ASSETS 39,393,000 40,332,000
  LIABILITIES AND STOCKHOLDERS’ EQUITY: CURRENT LIABILITIES:    
Accounts payable 352,000 253,000
Accrued payroll 289,000
Other accrued expenses 758,000 228,000
Total Current Liabilities 1,110,000 770,000
  LONG TERM LIABILITIES:    
       Deferred tax liability 245,000
  TOTAL LIABILITIES 1,355,000 770,000
  COMMITMENTS AND CONTINGENCIES (Note H)  
  STOCKHOLDERS’ EQUITY    
Preferred stock, $0.01 par value, authorized 10,000,000 shares; none issued and outstanding at March 31, 2026 and December 31, 2025
Common stock, $0.01 par value; authorized 50,000,000 shares; 22,795,883  and 22,824,009 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively 228,000 228,000
Additional paid-in capital 62,506,000 63,426,000
Accumulated deficit (24,696,000) (24,092,000)
TOTAL STOCKHOLDERS’ EQUITY 38,038,000 39,562,000
  TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 39,393,000 $ 40,332,000