Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

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CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
Jun. 30, 2023
Dec. 31, 2022
CURRENT ASSETS:    
Cash and cash equivalents $ 16,615,000 $ 13,448,000
Marketable securities, at fair value 29,755,000 34,991,000
Prepaid taxes 177,000 177,000
Other current assets 88,000 348,000
  TOTAL CURRENT ASSETS 46,635,000 48,964,000
  OTHER ASSETS:    
Patents, net of accumulated amortization 1,427,000 1,592,000
Equity investment 6,187,000 7,252,000
Operating leases right-of-use asset 129,000 161,000
Security deposit 13,000
  Total Other Assets 7,756,000 9,005,000
  TOTAL ASSETS 54,391,000 57,969,000
CURRENT LIABILITIES:    
Accounts payable 375,000 507,000
Income taxes payable 115,000 115,000
Accrued contingency fees and related costs 66,000
Accrued payroll 15,000 317,000
Other accrued expenses 101,000 587,000
Operating lease obligation, current 79,000 79,000
  Total Current Liabilities 751,000 1,605,000
  LONG TERM LIABILITIES:    
Deferred tax liability 914,000 1,161,000
Operating lease obligation, non-current 60,000 94,000
  TOTAL LIABILITIES 1,725,000 2,860,000
  STOCKHOLDERS’ EQUITY    
Preferred stock, $0.01 par value, authorized 10,000,000 shares; none issued and outstanding at June 30, 2023 and December 31, 2022
Common stock, $0.01 par value; authorized 50,000,000 shares; 23,811,260 and 23,863,639 shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively 238,000 239,000
Additional paid-in capital 67,205,000 66,939,000
Accumulated deficit (14,763,000) (12,055,000)
Accumulated other comprehensive loss (14,000) (14,000)
  TOTAL STOCKHOLDERS’ EQUITY 52,666,000 55,109,000
  TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 54,391,000 $ 57,969,000