Annual report pursuant to Section 13 and 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW

v3.6.0.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($)
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income $ 23,223,000 $ 4,107,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of Patents 813,000 1,655,000
Stock -based compensation 509,000 272,000
Deferred tax provision 4,751,000 (215,000)
Impairment of investments 576,000
Source (use) of cash from changes in operating assets and liabilities:    
Royalty receivables (1,342,000) (288,000)
Prepaid taxes (1,195,000)
Other current assets 113,000 46,000
Accounts payable 32,000 (199,000)
Accrued expense 3,002,000 (321,000)
NET CASH PROVIDED BY OPERATING ACTIVITIES 29,906,000 5,633,000
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of patents (42,000) (75,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Value of shares delivered to fund withholding taxes on exercise of options (49,000)
Repurchase of common stock (120,000) (2,612,000)
Proceeds from exercises of options and warrants 615,000
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 446,000 (2,612,000)
NET INCREASE IN CASH AND CASH EQUIVALENTS 30,310,000 2,946,000
CASH AND CASH EQUIVALENTS, beginning of period 20,608,000 17,662,000
CASH AND CASH EQUIVALENTS, end of period 50,918,000 20,608,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid during the years for: Interest
Cash paid during the years for: Income taxes $ 5,265,000 $ 107,000