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, 2017
Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income $ 2,268,000 $ 3,820,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Amortization of Patents 50,000 414,000
Stock -based compensation 237,000 12,000
Deferred tax provision 39,000 (1,438,000)
Changes in operating assets and liabilities:    
Royalty receivables (4,141,000) (3,665,000)
Prepaid taxes 955,000
Other current assets 26,000 74,000
Accounts payable 74,000 124,000
Accrued expense (2,285,000) 777,000
NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES (2,777,000) 118,000
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of patents (2,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Cash dividends (1,209,000)
Value of shares delivered to fund withholding taxes on exercise of options (44,000)
Repurchases of common stock, net of commissions (1,000)
Proceeds from exercises of options and warrants 1,068,000 60,000
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES (141,000) 15,000
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (2,918,000) 131,000
CASH AND CASH EQUIVALENTS, beginning of period 50,918,000 20,608,000
CASH AND CASH EQUIVALENTS, end of period 48,000,000 20,739,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid during the years for: Interest
Cash paid during the years for: Income taxes
NON-CASH FINANCING ACTIVITY    
Accrued dividend rights on restricted stock units $ 47,000