SEGMENT REPORTING (Tables)

6 Months Ended

Jun. 30, 2025

The Company’s reportable segment information is as follows:


	Three Months Ended June 30, 2025
	Intellectual Property Operations		Industrial Operations		Energy Operations		Manufacturing Operations		Total
	(In thousands)
Revenues:
License fees	$	329	$	—	$	—	$	—	$	329
Revenues - industrial operations	—		6,590		—		—		6,590
Oil sales	—		—		6,918		—		6,918
Natural gas sales	—		—		4,034		—		4,034
Natural gas liquids sales	—		—		3,907		—		3,907
Other service sales	—		—		458		—		458
Air distribution	—		—		—		9,602		9,602
Safety products	—		—		—		11,005		11,005
Office products	—		—		—		8,394		8,394
Total revenues	329		6,590		15,317		29,001		51,237

Cost of revenues:





Cost of sales - intellectual property operations	6,558		—		—		—		6,558
Cost of sales - industrial operations	—		3,406		—		—		3,406
Cost of sales - manufacturing operations	—		—		—		22,422		22,422
Cost of production	—		—		12,309		—		12,309
Total cost of revenues	6,558		3,406		12,309		22,422		44,695
Segment gross (loss) profit	(6,229)		3,184		3,008		6,579		6,542

Other operating expenses:



General and administrative expenses and sales and engineering expenses	1,384		3,110		915		7,205		12,614
Total other operating expenses	1,384		3,110		915		7,205		12,614
Segment operating income (loss)	$	(7,613)	$	74	$	2,093	$	(626)	(6,072)

Parent general and administrative expenses									$	6,313
Operating income (loss)									$	(12,385)
Total other income (expense)									$	11,495
Income (loss) before income taxes									$	(890)


	Three Months Ended June 30, 2024
	Intellectual Property Operations		Industrial Operations		Energy Operations		Manufacturing Operations		Total
	(In thousands)
Revenues:
License fees	$	5,333	$	—	$	—	$	—	$	5,333
Revenues - industrial operations	—		6,335		—		—		6,335
Oil sales	—		—		8,082		—		8,082
Natural gas sales	—		—		1,991		—		1,991
Natural gas liquids sales	—		—		4,097		—		4,097




Total revenues	5,333		6,335		14,170		—		25,838

Cost of revenues:





Cost of sales - intellectual property operations	5,765		—		—		—		5,765
Cost of sales - industrial operations	—		3,277		—		—		3,277

Cost of production	—		—		10,038		—		10,038
Total cost of revenues	5,765		3,277		10,038		—		19,080
Segment gross (loss) profit	(432)		3,058		4,132		—		6,758

Other operating expenses:



General and administrative expenses and sales and engineering expenses	1,821		3,292		883		—		5,996
Total other operating expenses	1,821		3,292		883		—		5,996
Segment operating income (loss)	$	(2,253)	$	(234)	$	3,249	$	—	762

Parent general and administrative expenses									$	5,520
Operating income (loss)									$	(4,758)
Total other income (expense)									$	(11,132)
Income (loss) before income taxes									$	(15,890)











































	Six Months Ended June 30, 2025
	Intellectual Property Operations		Industrial Operations		Energy Operations		Manufacturing Operations		Total
	(In thousands)
Revenues:
License fees	$	70,234	$	—	$	—	$	—	$	70,234
Revenues - industrial operations	—		14,266		—		—		14,266
Oil sales	—		—		14,866		—		14,866
Natural gas sales	—		—		9,374		—		9,374
Natural gas liquids sales	—		—		8,572		—		8,572
Other service sales	—		—		811		—		811
Air distribution	—		—		—		19,458		19,458
Safety products	—		—		—		21,133		21,133
Office products	—		—		—		16,945		16,945
Total revenues	70,234		14,266		33,623		57,536		175,659

Cost of revenues:





Cost of sales - intellectual property operations	34,470		—		—		—		34,470
Cost of sales - industrial operations	—		7,470		—		—		7,470
Cost of sales - manufacturing operations	—		—		—		43,233		43,233
Cost of production	—		—		25,007		—		25,007
Total cost of revenues	34,470		7,470		25,007		43,233		110,180
Segment gross profit	35,764		6,796		8,616		14,303		65,479

Other operating expenses:



General and administrative expenses and sales and engineering expenses	4,869		6,420		2,522		14,658		28,469
Total other operating expenses	4,869		6,420		2,522		14,658		28,469
Segment operating income (loss)	$	30,895	$	376	$	6,094	$	(355)	37,010

Parent general and administrative expenses									11,090
Operating income (loss)									25,920
Total other income (expense)									2,799
Income (loss) before income taxes									$	28,719



	June 30, 2025		December 31, 2024
	(In thousands)







Total parent assets	$	137,240	$	150,033

Segment total assets:
Intellectual property operations	249,188		213,854
Industrial operations	49,293		48,438
Energy operations	204,647		209,355
Manufacturing operations	135,178		134,714
Total assets	$	775,546	$	756,394


	Three Months Ended June 30, 2025
	Intellectual Property Operations		Industrial Operations		Energy Operations		Manufacturing Operations		Total
	(In thousands)
Revenues by geographic area:
United States	$	329	$	2,827	$	15,317	$	16,590	$	35,063
Canada and Latin America	—		384		—		5,699		6,083
Total Americas	329		3,211		15,317		22,289		41,146

Europe, Middle East and Africa	—		1,753		—		1,251		3,004

China	—		343		—		5,461		5,804
India	—		459		—		—		459
Asia-Pacific, excluding China and India	—		824		—		—		824
Total Asia-Pacific	—		1,626		—		5,461		7,087
Total revenues	$	329	$	6,590	$	15,317	$	29,001	$	51,237


	Three Months Ended June 30, 2024
	Intellectual Property Operations		Industrial Operations		Energy Operations		Manufacturing Operations		Total
	(In thousands)
Revenues by geographic area:
United States	$	5,331	$	2,873	$	14,170	$	—	$	22,374
Canada and Latin America	—		220		—		—		220
Total Americas	5,331		3,093		14,170		—		22,594

Europe, Middle East and Africa	—		1,705		—		—		1,705

China	—		232		—		—		232
India	—		517		—		—		517
Asia-Pacific, excluding China and India	2		788		—		—		790
Total Asia-Pacific	2		1,537		—		—		1,539
Total revenues	$	5,333	$	6,335	$	14,170	$	—	$	25,838



















	Six Months Ended June 30, 2025
	Intellectual Property Operations		Industrial Operations		Energy Operations		Manufacturing Operations		Total
	(In thousands)
Revenues by geographic area:
United States	$	70,232	$	5,765	$	33,623	$	34,389	$	144,009
Canada and Latin America	—		674		—		11,768		12,442
Total Americas	70,232		6,439		33,623		46,157		156,451

Europe, Middle East and Africa	—		4,083		—		2,375		6,458

China	—		715		—		9,004		9,719
India	—		1,083		—		—		1,083
Asia-Pacific, excluding China and India	2		1,946		—		—		1,948
Total Asia-Pacific	2		3,744		—		9,004		12,750
Total revenues	$	70,234	$	14,266	$	33,623	$	57,536	$	175,659


















	Six Months Ended June 30, 2024
	Intellectual Property Operations		Industrial Operations		Energy Operations		Manufacturing Operations		Total
	(In thousands)
Revenues by geographic area:
United States	$	7,395	$	6,032	$	16,026	$	—	$	29,453
Canada and Latin America	1		486		—		—		487
Total Americas	7,396		6,518		16,026		—		29,940

Europe, Middle East and Africa	—		4,183		—		—		4,183

China	4,650		750		—		—		5,400
India	—		1,435		—		—		1,435
Asia-Pacific, excluding China and India	6,910		2,290		—		—		9,200
Total Asia-Pacific	11,560		4,475		—		—		16,035
Total revenues	$	18,956	$	15,176	$	16,026	$	—	$	50,158


	June 30, 2025
	Intellectual Property Operations		Industrial Operations		Energy Operations		Manufacturing Operations		Total
	(In thousands)
Long-lived tangible assets by geographic area:
United States	$	105	$	197	$	188,237	$	7,056	$	195,595
Canada	—		615		—		6,744		7,359
Europe	—		230		—		4,267		4,497
Asia-Pacific	—		—		—		2,395		2,395

Total	$	105	$	1,042	$	188,237	$	20,462	$	209,846


	December 31, 2024
	Intellectual Property Operations		Industrial Operations		Energy Operations		Manufacturing Operations		Total
	(In thousands)
Long-lived tangible assets by geographic area:
United States	$	126	$	220	$	192,435	$	7,685	$	200,466
Canada	—		—		—		7,225		7,225
Europe	—		99		—		4,257		4,356
Asia-Pacific	—		925		—		2,573		3,498

Total	$	126	$	1,244	$	192,435	$	21,740	$	215,545