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CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating Activities:    
Net income (loss) $ 10,426,015 $ (644,503)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation 13,541 13,748
Amortization of right-of-use asset 62,968 59,621
Stock-based compensation 1,519,351 933,411
Change in accrued interest and accretion of discount on investments 81,296 (53,674)
(Increase) decrease in:    
Accounts receivable, net 3,618,434 (7,251,381)
Inventory (254,546) (40,575)
Prepaid expenses and other current assets and deposits (1,711,641) (231,485)
Increase (decrease) in:    
Accounts payable (2,769,870) 602,719
Accrued expenses and other liabilities (3,699,518) (1,337,155)
Operating lease liability (72,952) (67,155)
Net cash provided by (used in) operating activities 7,213,078 (8,016,429)
Investing Activities:    
Purchases of property and equipment   (5,633)
Purchases of investments   (9,944,974)
Proceeds from maturities and sales of investments 5,000,000 20,400,000
Net cash provided by (used in) investing activities 5,000,000 10,449,393
Financing Activities:    
Proceeds from exercise of stock options 26,149 89,350
Net cash provided by (used in) financing activities 26,149 89,350
Net increase (decrease) in cash and cash equivalents 12,239,227 2,522,314
Cash and cash equivalents—beginning of period 89,511,710 16,559,400
Cash and cash equivalents—end of period 101,750,937 19,081,714
Non-cash investing and financing activities:    
Unrealized gain (loss) on available-for-sale securities $ 74,246 $ 13,560