Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2018
Dec. 31, 2017
CURRENT ASSETS:    
Cash and cash equivalents $ 18,680,000 $ 43,351,000
Marketable securities, at fair value 36,311,000 10,804,000
Royalty receivables, net 444,000 575,000
Prepaid taxes 125,000
Other current assets 112,000 83,000
Total Current Assets 55,547,000 54,938,000
OTHER ASSETS:    
Deferred tax assets 168,000 168,000
Patent, net of accumulated amortization 1,989,000 2,169,000
Equity investment 2,541,000
Security deposits 21,000 19,000
Total Other Assets 4,719,000 2,356,000
TOTAL ASSETS 60,266,000 57,294,000
CURRENT LIABILITIES:    
Accounts payable 67,000 244,000
Income taxes payable 197,000
Accrued contingency fees and related costs 1,136,000 1,780,000
Accrued payroll 486,000 709,000
Other accrued expenses 175,000 149,000
TOTAL LIABILITIES 2,061,000 2,882,000
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY    
Preferred stock, $0.01 par value; authorized 10,000,000 shares; none issued and outstanding at December 31, 2018 and December 31, 2017
Common stock, $0.01 par value; authorized 50,000,000 shares; 23,735,927 and 23,843,915 issued and outstanding at December 31, 2018 and December 31, 2017, respectively 237,000 238,000
Additional paid-in capital 65,151,000 64,435,000
Accumulated deficit (7,102,000) (10,219,000)
Accumulated other comprehensive loss (81,000) (42,000)
TOTAL STOCKHOLDERS' EQUITY 58,205,000 54,412,000
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 60,266,000 $ 57,294,000