Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

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CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
Sep. 30, 2019
Dec. 31, 2018
CURRENT ASSETS:    
Cash and cash equivalents $ 16,737,000 $ 23,763,000
Marketable securities, at fair value 31,283,000 31,228,000
Royalty receivables, net 493,000 444,000
Other current assets 31,000 112,000
Total Current Assets 48,544,000 55,547,000
OTHER ASSETS:    
Deferred tax assets 204,000 168,000
Patents, net of accumulated amortization 1,832,000 1,989,000
Equity investment 4,696,000 2,541,000
Operating leases right-of-use asset 52,000
Security deposits 21,000 21,000
Total Other Assets 6,805,000 4,719,000
TOTAL ASSETS 55,349,000 60,266,000
CURRENT LIABILITIES:    
Accounts payable 245,000 67,000
Income taxes payable 197,000
Accrued contingency fees and related costs 112,000 1,136,000
Accrued payroll 30,000 486,000
Operating lease obligations – current 53,000
Other accrued expenses 198,000 175,000
TOTAL CURRENT LIABILITIES 638,000 2,061,000
TOTAL LIABILITIES 638,000 2,061,000
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY    
Preferred stock, $0.01 par value, authorized 10,000,000 shares; none issued and outstanding at September 30, 2019 and 12/31/2018
Common stock, $0.01 par value; authorized 50,000,000 shares; 24,137,841 and 23,735,927 shares issued and outstanding at September 30, 2019 and December 31, 2018, 241,000 237,000
Additional paid-in capital 65,678,000 65,151,000
Accumulated deficit (11,310,000) (7,102,000)
Accumulated other comprehensive income (loss) 102,000 (81,000)
TOTAL STOCKHOLDERS' EQUITY 54,711,000 58,205,000
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 55,349,000 $ 60,266,000