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Condensed Consolidated Statements of Cash Flows (USD $)
9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Cash flows from operating activities:    
Net income $ 8,568,759 $ 12,765,697
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 2,964,633 2,271,181
Stock-based compensation expense 1,385,728 768,534
Deferred tax expense 261,471 2,442,596
Loss (gain) on revaluation of contingent consideration 126,335 46,521
Loss on disposal of assets 2,640  
Changes in assets and liabilities:    
Accounts receivable (762,768) (2,118,953)
Royalties and other receivables 6,677,903 2,535,498
Inventories (1,347,340) 1,149,997
Prepaid expenses and other current assets 88,326 264,690
Accounts payable 921,307 (1,529,213)
Accrued liabilities (1,984,539) (118,933)
Long-term liabilities (254,587) 490,267
Net cash provided by operating activities 16,647,868 18,967,882
Cash flows from investing activities:    
Purchases of marketable securities (24,236,256) (23,998,430)
Redemptions of marketable securities 30,117,162 19,893,195
Acquisition of assets of Refine Technology, LLC (21,235,937)  
Increase in restricted cash (250,000)  
Purchases of property, plant and equipment (2,964,108) (3,774,847)
Net cash used in investing activities (18,569,139) (7,880,082)
Cash flows from financing activities:    
Exercise of stock options 1,486,331 2,235,274
Payments of contingent consideration (603,677) (376,123)
Net cash provided by financing activities 882,654 1,859,151
Effect of exchange rate changes on cash and cash equivalents (2,884,175) 87,648
Net (decrease) increase in cash and cash equivalents (3,922,792) 13,034,599
Cash and cash equivalents, beginning of period 39,829,653 29,209,821
Cash and cash equivalents, end of period 35,906,861 42,244,420
Supplemental disclosure of non-cash investing activities:    
Income taxes paid $ 671,000 $ 1,196,000