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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
6 Months Ended
Jun. 30, 2018
[1]
Jun. 30, 2017
Cash flows from operating activities:    
Net income $ 8,279,271 $ 5,968,844
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization 1,369,227 1,084,614
Stock-based compensation expense 96,314 66,952
Deferred tax expense 82,341 218,006
Extinguishment of accrued liabilities (78,138) 0
Changes in operating assets and liabilities:    
Accounts receivable (684,061) (852,490)
Income tax receivable (666,874) 204,506
Prepaid expenses and other current assets (213,476) (176,202)
Patent costs (79,485) 0
Accounts payable and accrued expenses 118,696 423,848
Deferred revenue (139,680) (637,459)
Net cash provided by operating activities 8,084,135 6,300,619
Cash flows from investing activities:    
Maturity of marketable investments 37,279,000 32,855,741
Purchases of marketable investments (40,596,520) (37,669,248)
Net cash used in investing activities (3,317,520) (4,813,507)
Cash flows from financing activities:    
Proceeds from stock option exercises 860,050 258,250
Payments for repurchase of common stock 0 (478,762)
Net cash provided by (used in) financing activities 860,050 (220,512)
Increase in cash and cash equivalents 5,626,665 1,266,600
Cash and cash equivalents at beginning of year 7,333,810 4,763,364
Cash and cash equivalents at end of period 12,960,475 6,029,964
Cash paid during the period for:    
Interest 0 0
Taxes $ 2,617,572 $ 2,770,000
[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.