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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
OPERATING ACTIVITIES    
Net (loss) income $ (3,088,000) $ 31,789,000
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation 486,000 361,000
Amortization of finite-lived intangible assets 56,000 56,000
Stock-based compensation 383,000 116,000
Gain on equity investment in unconsolidated subsidiary   (59,453,000)
Realized gain on sale of marketable securities (112,000)  
Unrealized loss on marketable securities 4,561,000 18,665,000
Non-cash donation of IRNT common stock, net of realized gain   1,060,000
Deferred income taxes (1,146,000) 9,089,000
Changes in operating assets and liabilities:    
Increase in accounts receivable, net (955,000) (909,000)
(Increase) decrease in inventories, net (2,092,000) 20,000
Decrease (increase) in prepaid expenses and other assets 284,000 (148,000)
Increase (decrease) in accounts payable, accrued compensation, income taxes and commissions and other 792,000 (419,000)
Net cash (used in) provided by operating activities (831,000) 227,000
INVESTING ACTIVITIES    
Subscription agreement funding (Note C)   (2,725,000)
Capital expenditures (663,000) (759,000)
Proceeds from sale of marketable securities 1,661,000 758,000
Purchase of marketable securities (7,013,000) (270,000)
Net cash used in investing activities (6,015,000) (2,996,000)
FINANCING ACTIVITIES    
Payment for taxes related to net share settlement of equity awards (50,000)  
Exercise of stock options 191,000 31,000
Prepaid financing costs (20,000)  
Net cash provided by financing activities 121,000 31,000
Decrease in cash and cash equivalents (6,725,000) (2,738,000)
Cash and cash equivalents at beginning of period 29,016,000 18,331,000
Cash and cash equivalents at end of period 22,291,000 15,593,000
Noncash Investing Activity:    
Distribution of IRNT securities by Sponsor (unconsolidated subsidiary)   65,250,000
Supplemental Disclosure:    
Income taxes paid $ 741,000 $ 40,000