Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME (UNAUDITED)

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME (UNAUDITED) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Income Statement [Abstract]        
REVENUE $ 17,000,000 $ 35,692,000
OPERATING EXPENSES:        
Costs of revenue 6,610,000 12,030,000
Professional fees and related costs 117,000 721,000 524,000 1,384,000
General and administrative 639,000 558,000 1,812,000 1,650,000
Amortization of patents 82,000 74,000 233,000 221,000
TOTAL OPERATING EXPENSES 838,000 7,963,000 2,569,000 15,285,000
OPERATING INCOME (LOSS) (838,000) 9,037,000 (2,569,000) 20,407,000
 OTHER INCOME:        
Interest and dividend income, net 321,000 67,000 532,000 185,000
Gain on conversion of note 271,000 271,000
Gain on equity method investment 3,727,000 3,727,000
Net realized and unrealized loss on marketable securities (268,000) (40,000) (1,358,000) (32,000)
Total other income, net 4,051,000 27,000 3,172,000 153,000
INCOME BEFORE INCOME TAXES AND EQUITY IN NET LOSSES OF EQUITY METHOD INVESTEE 3,213,000 9,064,000 603,000 20,560,000
INCOME TAXES PROVISION:        
Current (274,000) 2,326,000 (274,000) 3,036,000
Deferred taxes, net 976,000 (37,000) 422,000 1,635,000
Total income tax expense 702,000 2,289,000 148,000 4,671,000
INCOME (LOSS) BEFORE SHARE OF NET LOSSES OF EQUITY METHOD INVESTEE: 2,511,000 6,775,000 455,000 15,889,000
SHARE OF NET LOSS OF EQUITY METHOD INVESTEE (285,000) (186,000) (1,073,000) (632,000)
NET INCOME (LOSS) $ 2,226,000 $ 6,589,000 $ (618,000) $ 15,257,000
Basic $ 0.09 $ 0.28 $ (0.03) $ 0.63
Diluted $ 0.09 $ 0.27 $ (0.03) $ 0.62
Weighted average common shares outstanding:        
Basic 23,765,089 23,934,361 23,830,702 24,136,506
Diluted 24,065,724 24,320,231 23,830,702 24,607,242
Cash dividends declared per share $ 0.05 $ 0.05 $ 0.10 $ 0.10
OTHER COMPREHENSIVE INCOME (LOSS)        
Net unrealized holding gain (loss) on corporate bonds and notes arising during the period, net of tax $ 2,000 $ (4,000) $ (2,000) $ 4,000
COMPREHENSIVE INCOME (LOSS) $ 2,228,000 $ 6,585,000 $ (620,000) $ 15,261,000