Quarterly report pursuant to Section 13 or 15(d)

Condensed Balance Sheets

v2.4.0.6
Condensed Balance Sheets (USD $)
Mar. 31, 2012
Dec. 31, 2011
ASSETS:    
Cash and cash equivalents $ 19,996,000 $ 20,661,000
Marketable securities 555,000 556,000
Royalty receivables 4,241,000 760,000
Other current assets 233,000 156,000
Total Current Assets 25,025,000 22,133,000
OTHER ASSETS:    
Deferred Tax Asset 6,483,000 6,903,000
Patent, net of accumulated amortization 72,000 74,000
Security deposits 19,000 19,000
Total Other Assets 6,574,000 6,996,000
TOTAL ASSETS 31,599,000 29,129,000
LIABILITIES:    
Accounts payable 85,000 180,000
Accrued expenses 2,497,000 1,551,000
TOTAL LIABILITIES 2,582,000 1,731,000
COMMITMENTS AND CONTINGENCIES      
STOCKHOLDERS' EQUITY    
Common stock - $0.01 par value ; authorized 50,000,000 shares; 25,690,712 and 25,037,518 shares issued and outstanding at March 31, 2012 and December 31, 2011, respectively 257,000 250,000
Additional paid-in capital 58,883,000 57,728,000
Accumulated deficit (30,117,000) (30,575,000)
Other comprehensive income (loss) (6,000) (5,000)
TOTAL STOCKHOLDERS' EQUITY 29,017,000 27,398,000
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY $ 31,599,000 $ 29,129,000