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Condensed Consolidated Balance Sheets (unaudited) - USD ($)
Mar. 31, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents [1] $ 12,558,901 $ 7,333,810
Short term investments 48,751,206 [1] 51,973,971
Accounts receivable 19,165,670 [1] 4,655,105
Deferred royalty buy-down 1,648,319 [1] 1,794,126
Prepaid expenses and other current assets 580,920 [1] 623,503
Total current assets 82,705,016 [1] 66,380,515
Long-term investments 2,840,191 [1] 5,745,974
Deferred royalty buy-down - long term, net 0 [1] 732,206
Deferred tax assets, net 403,944 [1] 1,739,706
Patent costs, net 425,785 [1] 397,993
Total assets 86,374,936 [1] 74,996,394
Current liabilities:    
Accounts payable and accrued expenses 1,781,163 [1] 933,998
Income tax payable 2,535,676 [1] 68,733
Deferred revenue 117,635 [1] 1,057,979
Accrued liabilities of discontinued operations 78,138 [1] 78,138
Total current liabilities 4,512,612 [1] 2,138,848
Long-term deferred revenue 17,635 [1] 5,340,708
Stockholders' equity:    
Series A Preferred stock, $.50 par value, 700,000 shares authorized; none outstanding 0 [1] 0
Common stock, $.001 par value; 10,000,000 shares authorized; 7,610,167 and 7,600,167 shares issued, 7,199,233 and 7,189,233 shares outstanding as of March 31, 2018 and December 31, 2017, respectively 7,610 [1] 7,600
Additional paid-in capital 33,633,225 [1] 33,468,323
Retained earnings 56,102,054 [1] 41,939,115
Treasury stock, 410,934 shares at cost as of each period ended March 31, 2018 and December 31, 2017 (7,898,200) [1] (7,898,200)
Total stockholders' equity 81,844,689 [1] 67,516,838
Total liabilities and stockholders' equity $ 86,374,936 [1] $ 74,996,394
[1] As of January 1, 2018, the Company adopted the requirements of ASC 606 using the modified retrospective adoption method, and as a result, there is a lack of comparability of certain amounts to the prior periods presented. See Note 2 for additional discussion.