Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v2.4.1.9
Consolidated Statements of Cash Flows (USD $)
 3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income $ 1,530,000us-gaap_NetIncomeLoss $ 1,396,000us-gaap_NetIncomeLoss
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of Patents 413,000us-gaap_AmortizationOfIntangibleAssets 409,000us-gaap_AmortizationOfIntangibleAssets
Stock based compensation 100,000us-gaap_ShareBasedCompensation 27,000us-gaap_ShareBasedCompensation
Deferred tax provision 756,000us-gaap_DeferredIncomeTaxExpenseBenefit 711,000us-gaap_DeferredIncomeTaxExpenseBenefit
Sources (uses) of cash from changes in operating assets and liabilities:    
Royalty receivables (4,353,000)us-gaap_IncreaseDecreaseInReceivables (3,706,000)us-gaap_IncreaseDecreaseInReceivables
Other current assets 62,000us-gaap_IncreaseDecreaseInOtherOperatingAssets 62,000us-gaap_IncreaseDecreaseInOtherOperatingAssets
Accounts payable (108,000)us-gaap_IncreaseDecreaseInAccountsPayable (29,000)us-gaap_IncreaseDecreaseInAccountsPayable
Accrued expense (38,000)us-gaap_IncreaseDecreaseInAccruedLiabilities 903,000us-gaap_IncreaseDecreaseInAccruedLiabilities
NET CASH USED IN OPERATING ACTIVITIES (1,638,000)us-gaap_NetCashProvidedByUsedInOperatingActivities (227,000)us-gaap_NetCashProvidedByUsedInOperatingActivities
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of patents and other assets (30,000)us-gaap_PaymentsToAcquireIntangibleAssets (24,000)us-gaap_PaymentsToAcquireIntangibleAssets
Acquisitions of Investments, at cost    (95,000)us-gaap_PaymentsForProceedsFromInvestments
NET CASH USED IN INVESTING ACTIVITIES (30,000)us-gaap_NetCashProvidedByUsedInInvestingActivities (119,000)us-gaap_NetCashProvidedByUsedInInvestingActivities
CASH FLOWS FROM FINANCING ACTIVITIES:    
Value of shares delivered to fund withholding taxes on exercise of options    (28,000)us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation
Repurchases of common stock (1,882,000)us-gaap_PaymentsForRepurchaseOfCommonStock (202,000)us-gaap_PaymentsForRepurchaseOfCommonStock
NET CASH USED IN FINANCING ACTIVITIES (1,882,000)us-gaap_NetCashProvidedByUsedInFinancingActivities (230,000)us-gaap_NetCashProvidedByUsedInFinancingActivities
NET DECREASE IN CASH AND CASH EQUIVALENTS (3,550,000)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (576,000)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
CASH AND CASH EQUIVALENTS, beginning of period 17,662,000us-gaap_CashAndCashEquivalentsAtCarryingValue 18,938,000us-gaap_CashAndCashEquivalentsAtCarryingValue
CASH AND CASH EQUIVALENTS, end of period $ 14,112,000us-gaap_CashAndCashEquivalentsAtCarryingValue $ 18,362,000us-gaap_CashAndCashEquivalentsAtCarryingValue