Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW (Unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income $ 3,820,000 $ 1,530,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Amortization of Patents 414,000 413,000
Stock based compensation 12,000 100,000
Deferred tax provision (benefit) (1,438,000) 756,000
Changes in operating assets and liabilities:    
Royalty receivables (3,665,000) (4,353,000)
Other current assets 74,000 62,000
Accounts payable 124,000 (108,000)
Accrued expense 777,000 (38,000)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES 118,000 (1,638,000)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of patents and other assets (2,000) (30,000)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES (2,000) $ (30,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Value of shares delivered to fund withholding taxes on exercise of options (44,000)
Repurchases of common stock, net of commissions (1,000) $ (1,882,000)
Proceeds from exercise of options and warrants 60,000
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 15,000 $ (1,882,000)
NET INCREASE IN CASH AND CASH EQUIVALENTS 131,000 3,550,000
CASH AND CASH EQUIVALENTS, beginning of period 20,608,000 17,662,000
CASH AND CASH EQUIVALENTS, end of period $ 20,739,000 $ 14,112,000