Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2026
Dec. 31, 2025
ASSETS   CURRENT ASSETS:    
Cash and cash equivalents $ 5,806,000 $ 13,402,000
Marketable securities, at fair value 25,296,000 23,467,000
Other current assets 168,000 237,000
TOTAL CURRENT ASSETS 31,270,000 37,106,000
  OTHER ASSETS:    
Patents, net of accumulated amortization 1,722,000 1,479,000
Equity investments 2,786,000 1,734,000
Security deposit 13,000 13,000
Total Other Assets 4,521,000 3,226,000
TOTAL ASSETS 35,791,000 40,332,000
LIABILITIES AND STOCKHOLDERS’ EQUITY: CURRENT LIABILITIES:    
         Accounts payable 1,366,000 253,000
Accrued payroll 289,000
Other accrued expenses 36,000 228,000
Total Current Liabilities 1,402,000 770,000
LONG TERM LIABILITIES:    
       Deferred tax liability 331,000
TOTAL LIABILITIES 1,733,000 770,000
COMMITMENTS AND CONTINGENCIES (Note H)  
STOCKHOLDERS’ EQUITY    
Preferred stock, $0.01 par value, authorized 10,000,000 shares; none issued and outstanding at September 30, 2026 and December 31, 2025
Common stock, $0.01 par value; authorized 50,000,000 shares; 22,905,681 and 22,824,009 shares issued and outstanding at September 30, 2026 and December 31, 2025, respectively 229,000 228,000
Additional paid-in capital 61,564,000 63,426,000
Accumulated deficit (27,735,000) (24,092,000)
TOTAL STOCKHOLDERS’ EQUITY 34,058,000 39,562,000
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 35,791,000 $ 40,332,000