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Consolidated Statements of Operations (unaudited) (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Revenues:        
Net sales $ 10,449 $ 27,500 $ 14,127 $ 29,743
Royalties 2,624,774 3,197,603 5,365,092 6,630,503
Licensing revenues 17,282 44,880 34,565 589,761
Total Revenues 2,652,505 3,269,983 5,413,784 7,250,007
Costs and expenses:        
Research and development 286,332 470,044 669,036 764,918
General and administrative 1,490,514 1,236,254 2,736,819 2,854,736
Total Cost and Expenses 1,776,846 1,706,298 3,405,855 3,619,654
Operating income 875,659 1,563,685 2,007,929 3,630,353
Other income (expense):        
Interest income 7,352 6,510 14,323 12,376
Other income 0 0 1,150 0
Total other income (expense) 7,352 6,510 15,473 12,376
Income before expense for income tax 883,011 1,570,195 2,023,402 3,642,729
Income tax benefit (expense) (305,045) (542,009) (691,447) (1,261,459)
Net income $ 577,966 $ 1,028,186 $ 1,331,955 $ 2,381,270
Basic net income per share (in dollars per share) $ 0.09 $ 0.16 $ 0.21 $ 0.37
Diluted net income per share (in dollars per share) $ 0.08 $ 0.15 $ 0.19 $ 0.34
Shares used in computation of basic net income per share (in shares) 6,429,203 6,345,277 6,404,170 6,351,083
Shares used in computation of diluted net income per share (in shares) 7,009,625 6,968,057 7,018,533 6,966,045