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Condensed Consolidated Balance Sheets (unaudited) - USD ($)
Sep. 30, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 7,488,076 $ 9,810,816
Short term investments 23,442,395 10,900,436
Accounts receivable, net 4,211,810 2,938,731
Income tax receivable 1,174,237 653,116
Investment interest receivable 137,258 48,316
Deferred tax asset 16,907 16,907
Deferred royalty buy-down 802,094 569,641
Prepaid expenses 258,057 210,847
Total current assets 37,530,834 25,148,810
Long-term Investments 1,894,000 1,250,000
Deferred royalty buy-down - long term, net 2,618,574 3,271,120
Deferred tax assets - long term 620,653 1,061,864
Patent costs, net 285,087 295,030
Total assets 42,949,148 31,026,824
Current liabilities:    
Accounts payable and accrued expenses 651,068 543,696
Deferred revenue 49,378 49,378
Accrued liabilities of discontinued operations 78,138 78,138
Total current liabilities 778,584 671,212
Long-term deferred revenue 61,723 98,757
Stockholders' equity:    
Series A Preferred stock, $.50 par value, 700,000 shares authorized; none outstanding 0 0
Common stock, $.001 par value; 10,000,000 shares authorized; 7,280,167 and 7,062,209 shares issued, 6,921,137 and 6,730,622 outstanding as of September 30, 2015 and December 31, 2014, respectively 7,280 7,062
Additional paid-in capital 31,134,211 25,059,458
Retained earnings 16,580,061 9,620,978
Treasury stock, 359,030 and 331,587 shares at cost as of September 30, 2015 and December 31, 2014, respectively (5,612,711) (4,430,643)
Total stockholders' equity 42,108,841 30,256,855
Total liabilities and stockholders' equity $ 42,949,148 $ 31,026,824