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 ($)
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income $ 3,812,000 $ 12,050,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of Patents 100,000 711,000
Stock -based compensation 474,000 44,000
Deferred tax provision 39,000 3,084,000
Changes in operating assets and liabilities:    
Royalty receivables (1,518,000) (1,438,000)
Prepaid taxes 1,195,000
Other current assets 39,000 158,000
Accounts payable (15,000) 8,000
Income taxes payable 640,000
Accrued expense (2,598,000) 132,000
NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES 2,168,000 14,749,000
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of patents (8,000) (3,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Cash dividends (1,214,000)
Value of shares delivered to fund withholding taxes on stock-based compensation (56,000) (44,000)
Repurchases of common stock, net of commissions (981,000) (1,000)
Proceeds from exercises of options and warrants 1,068,000 60,000
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES (1,183,000) 15,000
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 977,000 14,761,000
CASH AND CASH EQUIVALENTS, beginning of period 50,918,000 20,608,000
CASH AND CASH EQUIVALENTS, end of period 51,895,000 35,369,000
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 $ 42,000