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

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (2,420,000) $ (3,034,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of patents 141,000 120,000
Stock-based compensation 307,000 399,000
Loss allocated from equity investment 1,603,000 1,912,000
Deferred tax benefit (337,000) (425,000)
Amortization of right of use asset, net 27,000 64,000
Unrealized (gain) loss on marketable securities (149,000) 67,000
  Changes in operating assets and liabilities:    
Other current assets (5,000) (26,000)
Accounts payable 50,000 79,000
Operating lease obligations (24,000) (74,000)
Accrued expenses (62,000) (158,000)
NET CASH USED IN OPERATING ACTIVITIES (869,000) (1,076,000)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Sales of marketable securities 16,157,000 15,250,000
Purchases of marketable securities (12,020,000) (14,201,000)
Acquisition of patents (415,000)
NET CASH PROVIDED BY INVESTING ACTIVITIES 3,722,000 1,049,000
CASH FLOWS FROM FINANCING ACTIVITIES:    
Cash dividends paid (2,296,000) (2,366,000)
Value of shares delivered to fund withholding taxes (7,000) (63,000)
Repurchases of common stock, inclusive of commissions and excise tax (293,000) (1,295,000)
NET CASH USED IN FINANCING ACTIVITIES (2,596,000) (3,724,000)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 257,000 (3,751,000)
  CASH AND CASH EQUIVALENTS, beginning of year 13,145,000 16,896,000
CASH AND CASH EQUIVALENTS, end of year 13,402,000 13,145,000
Cash paid during the years for:    
Interest
Income taxes
  NON-CASH FINANCING ACTIVITY    
Accrued dividend rights on restricted stock units 51,000 59,000
Right-of-use asset for lease liability $ 75,000