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Condensed Consolidated Balance Sheets (unaudited) - USD ($)
Jun. 30, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 6,964,402 $ 5,137,875
Short term investments 36,607,289 28,347,542
Accounts receivable 4,279,440 2,547,920
Income tax receivable 884,439 916,843
Deferred royalty buy-down 1,139,341 1,017,981
Prepaid expenses and other current assets 730,756 383,810
Total current assets 50,605,667 38,351,971
Long-term investments 2,264,531 3,596,541
Deferred royalty buy-down - long term, net 2,236,671 2,851,423
Deferred tax assets 3,358,617 622,972
Patent costs, net 267,100 275,206
Total assets 58,732,586 45,698,113
Current liabilities:    
Accounts payable and accrued expenses 587,441 611,009
Deferred revenue 1,065,055 149,378
Accrued liabilities of discontinued operations 78,138 78,138
Total current liabilities 1,730,634 838,525
Long-term deferred revenue 7,087,141 49,379
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; 7,405,167 and 7,290,167 shares issued, 7,014,849 and 6,918,579 shares outstanding as of June 30, 2016 and December 31, 2015, respectively 7,405 7,290
Additional paid-in capital 32,192,884 31,797,418
Retained earnings 24,640,449 19,238,610
Treasury stock, 390,318 and 371,588 shares at cost as of June 30, 2016 and December 31, 2015, respectively (6,925,927) (6,233,109)
Total stockholders' equity 49,914,811 44,810,209
Total liabilities and stockholders' equity $ 58,732,586 $ 45,698,113