National Patent Development Corporation is a shell company. In January this year, the company completed the sale of all of the issued and outstanding stock of its wholly owned subsidiary Five Star Products, Inc. to The Merit Group, Inc. Though, by the end of June NPDV has suffered an operating loss of over $1 million. In the meantime the company has registered neither revenues, nor any profit.
The cash and cash equivalents of NPDV total over $28 thousand and the company claims it will be sufficient for "at least the next 12 months". However, after that it should find additional sources to support its operations.