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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net income $ 4,416,595 $ 3,978,604
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Amortization 153,261 699,703
Stock-based compensation expense 141,788 32,512
Changes in operating assets and liabilities:    
Accounts receivable 41,897 (6,955,839)
Income tax payable 1,097,913 1,067,002
Prepaid expenses and other current assets 42,359 42,582
Patent costs 0 (44,598)
Accounts payable and accrued expenses 146,073 308,152
Deferred revenue 0 (4,409)
Net cash provided by (used in) operating activities 6,039,886 (876,291)
Cash flows from investing activities:    
Maturity of marketable investments 20,152,229 20,287,000
Purchases of marketable investments (21,829,557) (14,318,018)
Net cash (used in) provided by investing activities (1,677,328) 5,968,982
Cash flows from financing activities:    
Proceeds from stock option exercises 58,420 132,400
Net cash provided by financing activities 58,420 132,400
Increase in cash and cash equivalents 4,420,978 5,225,091
Cash and cash equivalents at beginning of year 13,176,452 7,333,810
Cash and cash equivalents at end of period 17,597,430 12,558,901
Cash paid during the period for:    
Interest 0 0
Taxes $ 7,362 $ 0