Annual report [Section 13 and 15(d), not S-K Item 405]

CONSOLIDATED BALANCE SHEETS

v3.25.4
CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2025
Dec. 31, 2024
CURRENT ASSETS:    
Cash and cash equivalents $ 13,402,000 $ 13,145,000
Marketable securities, at fair value 23,467,000 27,455,000
Other current assets 237,000 232,000
  Total Current Assets 37,106,000 40,832,000
  OTHER ASSETS:    
Patents, net of accumulated amortization 1,479,000 1,205,000
Equity method investment 1,734,000 3,337,000
Operating leases right of use asset 27,000
Security deposits 13,000 13,000
  Total Other Assets 3,226,000 4,582,000
  TOTAL ASSETS 40,332,000 45,414,000
CURRENT LIABILITIES:    
Accounts payable 253,000 203,000
Accrued payroll 289,000 292,000
Other accrued expenses 228,000 247,000
Operating lease obligations 24,000
Total Current Liabilities 770,000 766,000
LONG TERM LIABILITIES:    
Deferred tax liability 337,000
  TOTAL LIABILITIES 770,000 1,103,000
COMMITMENTS AND CONTINGENCIES (See Note I)
STOCKHOLDERS' EQUITY    
Preferred stock, $0.01 par value; authorized 10,000,000 shares; none issued and outstanding at December 31, 2025 and December 31, 2024
  Common stock, $0.01 par value; authorized 50,000,000 shares; 22,824,009 and 22,961,619 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively 228,000 229,000
  Additional paid-in capital 63,426,000 65,455,000
Accumulated deficit (24,092,000) (21,373,000)
TOTAL STOCKHOLDERS’ EQUITY 39,562,000 44,311,000
  TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 40,332,000 $ 45,414,000