Quarterly report pursuant to Section 13 or 15(d)

CONDENSED STATEMENTS OF CASH FLOW (UNAUDITED)

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CONDENSED STATEMENTS OF CASH FLOW (UNAUDITED) (USD $)
 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income $ 1,396,000 $ 1,392,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Amortization of Patents 409,000 16,000
Stock based compensation 27,000 112,000
Source (use) of cash from changes in operating assets and liabilities:    
Royalty receivables (3,685,000) (3,276,000)
Accounts payable and accrued expenses 915,000 830,000
Deferred tax asset 711,000 615,000
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES (227,000) (311,000)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of patents/patent costs incurred (24,000) (1,010,000)
Investments (95,000)   
NET CASH USED IN INVESTING ACTIVITIES (119,000) (1,010,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Value of shares delivered to fund withholding taxes (28,000)   
Repurchase of treasury stock (202,000) (851,000)
NET CASH USED IN FINANCING ACTIVITIES (230,000) (851,000)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (576,000) (2,172,000)
CASH AND CASH EQUIVALENTS, beginning of period 18,938,000 21,983,000
CASH AND CASH EQUIVALENTS, end of period 18,362,000 19,811,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid during the periods for Interest      
Cash paid during the periods for Taxes 15,000 71,000
NON-CASH INVESTING AND FINANCING ACTIVITIES    
Value of shares issued to purchase patent    $ 556,000