Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

v3.21.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2021
Dec. 31, 2020
CURRENT ASSETS:    
Cash and cash equivalents $ 24,122,000 $ 25,505,000
Marketable securities, at fair value 17,149,000 19,366,000
Royalty receivables 18,692,000 0
Other current assets 88,000 120,000
TOTAL CURRENT ASSETS 60,051,000 44,991,000
OTHER ASSETS:    
Deferred tax assets, net 0 954,000
Patents, net of accumulated amortization 1,512,000 1,578,000
Equity investment 3,440,000 3,650,000
Convertible note investment 1,000,000 0
Security deposits 13,000 21,000
Total Other Assets 5,965,000 6,203,000
TOTAL ASSETS 66,016,000 51,194,000
CURRENT LIABILITIES:    
Income taxes payable 890,000 0
Accounts payable 363,000 597,000
Accrued contingency fees and related costs 5,422,000 932,000
Accrued payroll 941,000 277,000
Other accrued expenses 164,000 226,000
Total Current Liabilities 7,780,000 2,032,000
LONG TERM LIABILITIES:    
Deferred tax liability 769,000 0
TOTAL LIABILITIES 8,549,000 2,032,000
COMMITMENTS AND CONTINGENCIES 0 0
STOCKHOLDERS' EQUITY    
Preferred stock, $0.01 par value, authorized 10,000,000 shares; none issued and outstanding at March 31, 2021 and December 31, 2020 0 0
Common stock, $0.01 par value; authorized 50,000,000 shares; 24,117,129 and 24,105,879 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively 241,000 241,000
Additional paid-in capital 66,183,000 66,124,000
Accumulated deficit (8,958,000) (17,193,000)
Accumulated other comprehensive income (loss) 1,000 (10,000)
TOTAL STOCKHOLDERS' EQUITY 57,467,000 49,162,000
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 66,016,000 $ 51,194,000