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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net income $ 10,843,055 $ 8,826,535
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization 150,636 1,369,227
Stock-based compensation expense 260,466 96,314
Deferred tax expense 159,459 82,341
Extinguishment of accrued liabilities 0 (78,138)
Changes in operating assets and liabilities:    
Accounts receivable (210,949) (1,438,426)
Income tax payable 173,690 (518,513)
Prepaid expenses and other current assets (365,423) (213,476)
Patent costs (92,582) (79,485)
Accounts payable and accrued expenses (1,087,775) 177,436
Deferred revenue 0 (139,680)
Net cash provided by operating activities 9,830,577 8,084,135
Cash flows from investing activities:    
Maturity of marketable investments 42,451,229 37,279,000
Purchases of marketable investments (53,104,080) (40,596,520)
Net cash used in investing activities (10,652,851) (3,317,520)
Cash flows from financing activities:    
Proceeds from stock option exercises 1,736,946 860,050
Payments for repurchase of common stock (118,566) 0
Net cash provided by financing activities 1,618,380 860,050
Increase in cash and cash equivalents 796,106 5,626,665
Cash and cash equivalents at beginning of year 13,176,452 7,333,810
Cash and cash equivalents at end of period 13,972,558 12,960,475
Cash paid during the period for:    
Interest 0 0
Taxes $ 1,826,362 $ 2,617,572