XML 25 R4.htm IDEA: XBRL DOCUMENT v3.19.3
Condensed Consolidated Income Statements (unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenues:        
Total Revenues $ 9,442,253 $ 8,168,081 $ 26,424,380 $ 23,108,264
Costs and expenses:        
Research and development 143,185 162,625 454,042 569,648
General and administrative 1,978,078 2,232,077 6,613,362 6,345,662
Total Cost and Expenses 2,121,263 2,394,702 7,067,404 6,915,310
Operating income 7,320,990 5,773,379 19,356,976 16,192,954
Other income:        
Interest income 504,909 359,637 1,471,489 851,334
Other income 0 0 0 96,663
Total other income 504,909 359,637 1,471,489 947,997
Income before income tax expense 7,825,899 6,133,016 20,828,465 17,140,951
Provision for income tax expense (1,552,966) (1,089,966) (3,712,477) (3,271,366)
Net income $ 6,272,933 $ 5,043,050 $ 17,115,988 $ 13,869,585
Basic net income per share (in dollars per share) $ 0.86 $ 0.69 $ 2.34 $ 1.92
Diluted net income per share (in dollars per share) $ 0.85 $ 0.69 $ 2.33 $ 1.89
Shares used in computation of basic net income per share (in shares) 7,334,212 7,281,388 7,306,665 7,230,106
Shares used in computation of diluted net income per share (in shares) 7,359,034 7,356,885 7,347,701 7,327,029
Royalties [Member]        
Revenues:        
Total Revenues $ 9,442,253 $ 8,168,081 $ 26,424,380 $ 23,068,585
Licensing Revenues [Member]        
Revenues:        
Total Revenues $ 0 $ 0 $ 0 $ 39,679