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Condensed Consolidated Balance Sheets (unaudited) - USD ($)
Sep. 30, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents [1] $ 13,381,013 $ 7,333,810
Short term investments 58,429,211 [1] 51,973,971
Accounts receivable 14,455,354 [1] 4,655,105
Deferred royalty buy-down 601,660 [1] 1,794,126
Prepaid expenses and other current assets 801,956 [1] 623,503
Total current assets 87,669,194 [1] 66,380,515
Long-term investments 5,168,322 [1] 5,745,974
Deferred royalty buy-down - long term, net 0 [1] 732,206
Deferred tax assets, net 275,526 [1] 1,739,706
Patent costs, net 439,892 [1] 397,993
Total assets 93,552,934 [1] 74,996,394
Current liabilities:    
Accounts payable and accrued expenses 1,116,463 [1] 933,998
Income tax payable 694,050 [1] 68,733
Deferred revenue 0 [1] 1,057,979
Accrued liabilities of discontinued operations 0 [1] 78,138
Total current liabilities 1,810,513 [1] 2,138,848
Long-term deferred revenue 0 [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; 7,738,167 and 7,600,167 shares issued, 7,283,528 and 7,189,233 shares outstanding as of September 30, 2018 and December 31, 2017, respectively 7,738 [1] 7,600
Additional paid-in capital 36,198,898 [1] 33,468,323
Retained earnings 65,993,035 [1] 41,939,115
Treasury stock, 454,639 and 410,934 shares at cost as of September 30, 2018 and December 31, 2017, respectively (10,457,250) [1] (7,898,200)
Total stockholders' equity 91,742,421 [1] 67,516,838
Total liabilities and stockholders' equity $ 93,552,934 [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. 3-Summary of Significant Accounting Policies for additional discussion.