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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
3 Months Ended
Mar. 31, 2018
[1]
Mar. 31, 2017
Cash flows from operating activities:    
Net income $ 3,978,604 $ 3,344,753
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization 699,703 545,067
Stock-based compensation expense 32,512 33,476
Deferred tax expense 0 97,508
Changes in operating assets and liabilities:    
Accounts receivable (6,955,839) (1,117,501)
Income tax receivable 1,067,002 212,174
Prepaid expenses and other current assets 42,582 40,709
Patent costs (44,598) 0
Accounts payable and accrued expenses 308,152 422,793
Deferred revenue (4,409) (259,713)
Net cash (used in) provided by operating activities (876,291) 3,319,266
Cash flows from investing activities:    
Maturity of marketable investments 20,287,000 18,217,000
Purchases of marketable investments (14,318,018) (17,304,251)
Net cash provided by investing activities 5,968,982 912,749
Cash flows from financing activities:    
Proceeds from stock option exercises 132,400 258,250
Payments for repurchase of common stock 0 (221,821)
Net cash provided by financing activities 132,400 36,429
Increase in cash and cash equivalents 5,225,091 4,268,444
Cash and cash equivalents at beginning of year 7,333,810 4,763,364
Cash and cash equivalents at end of period 12,558,901 9,031,808
Cash paid during the period for:    
Interest 0 0
Taxes $ 0 $ 1,460,000
[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.