CONSOLIDATED BALANCE SHEETS LIABILITIES AND STOCKHOLDERS’ EQUITY 16 The accompanying notes are an integral part of these consolidated financial statements. For The Years Ended June 30, 2001 2000 ASSETS Current assets Cash and equivalents $ 4,578,278 $ 4,647,160 Royalty receivables 1,219,147 1,761,266 Prepaid expenses and other 206,751 235,990 Available for sale securities — 920,273 Total current assets 6,004,176 7,564,689 Property and equipment, at cost, net 9,772,364 9,337,746 Available for sale securities 1,017,016 — Other assets 468,649 595,147 Total assets $17,262,205 $17,497,582 Current liabilities Accounts payable $ 485,785 $ 713,580 Dividend payable 894,490 885,004 Accrued compensation 150,000 212,370 Other 43,034 61,292 Total current liabilities 1,573,309 1,872,246 Other liabilities 127,100 124,697 Commitments and contingencies (notes 8 and 12) Stockholders’ equity Common stock, $.01 par value, authorized 40,000,000 shares; and issued 18,101,622 and 17,910,822 shares, respectively 181,016 179,108 Additional paid-in capital 55,868,222 55,846,280 Accumulated other comprehensive income (553,472) (400,215) Accumulated deficit (38,837,098) (39,080,904) 16,658,668 16,544,269 Less treasury stock, at cost (226,226 and 210,726 shares, respectively) (1,096,872) (1,043,630) Total stockholders’ equity 15,561,796 15,500,639 Total liabilities and stockholders’ equity $17,262,205 $17,497,582