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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 10,797,630 $ 14,916,878
Marketable investment securities 26,864,571 43,631,510
Accounts receivable, net 178,243 303,926
Inventory, net 1,266,016 1,664,725
Income taxes receivable 26,955
Prepaid expenses and other current assets 996,698 1,597,114
Total current assets 40,103,158 62,141,108
Property and equipment, net 2,984,112 3,035,729
Operating lease right-of-use asset 2,332,877 2,966,774
Intangible assets, net 26,176,667 26,403,667
Investment in joint venture 784,357 773,382
Total assets 72,381,171 95,320,660
Current liabilities    
Accounts payable 2,176,426 1,482,109
Accrued expenses 1,826,297 2,172,959
Operating lease liability, current 896,745 838,387
Contingent consideration liabilities, current 838,032 891,666
Deferred revenue 60,477 362,449
Total current liabilities 5,797,977 5,747,570
Long-term liabilities    
Income taxes payable 719,628 659,186
Operating lease liability 1,472,100 2,152,180
Contingent consideration liabilities 607,526 748,109
Total long-term liabilities 2,799,254 3,559,475
Total liabilities 8,597,231 9,307,045
Commitments and contingencies (Note 10)
Stockholders’ equity    
Convertible preferred stock, $0.001 par value; 5,000,000 shares authorized; 0 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively
Common stock, $0.001 par value; 100,000,000 shares authorized; 36,778,430 shares issued and 31,929,752 shares outstanding as of September 30, 2024 and 36,108,346 shares issued and 31,259,668 shares outstanding as of December 31, 2023 36,778 36,108
Treasury stock, at cost; 4,848,678 shares held as of September 30, 2024 and December 31, 2023, respectively (15,575,795) (15,575,795)
Additional paid-in capital 100,924,241 96,808,436
Accumulated other comprehensive income 408,366 146,700
Accumulated earnings (deficit) (22,009,650) 4,598,166
Total stockholders’ equity 63,783,940 86,013,615
Total liabilities and stockholders’ equity $ 72,381,171 $ 95,320,660