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Consolidated Statements of Cash Flows (unaudited) (USD $)
9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Cash flows from operating activities:    
Net income $ 1,880,119 $ 6,530,300
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 43,529 32,349
Stock-based compensation expense 202,085 391,138
Deferred tax assets 619,410 (3,051,197)
Changes in operating assets and liabilities:    
Accounts receivable 31,523 286,236
Prepaid expenses and other current assets 110,655 (223,807)
Accounts payable and accrued expenses 15,607 (2,832,456)
Deferred revenue (327,824) (374,494)
Net cash provided by operating activities 2,575,104 758,069
Cash flows from investing activities:    
Maturity of marketable investments 5,000,000 5,360,970
Purchases of marketable investments (5,190,000) (5,000,000)
Payment for royalty buy down (1,500,000) 0
Net cash provided by (used in) investing activities (1,690,000) 360,970
Cash flows from financing activities:    
Proceeds from stock option exercises 148,425 82,450
Payments for repurchase of common stock (674,501) (360,447)
Excess tax benefits from share-based payment arrangements 268,001 483,869
Net cash provided by (used in) in financing activities (258,075) 205,872
Increase in cash and cash equivalents 627,029 1,324,911
Cash and cash equivalents at beginning of year 3,196,831 2,470,852
Cash and cash equivalents at end of period 3,823,860 3,795,763
Cash paid during the year for:    
Interest 0 0
Taxes $ 162,000 $ 190,000