XML 16 R2.htm IDEA: XBRL DOCUMENT v2.4.1.9
Condensed Consolidated Balance Sheets (unaudited) (USD $)
Mar. 31, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 10,733,859us-gaap_CashAndCashEquivalentsAtCarryingValue $ 9,810,816us-gaap_CashAndCashEquivalentsAtCarryingValue
Short term investments 13,010,685us-gaap_ShortTermInvestments 10,900,436us-gaap_ShortTermInvestments
Accounts receivable, net 3,656,516us-gaap_AccountsReceivableNetCurrent 2,938,731us-gaap_AccountsReceivableNetCurrent
Investment interest receivable 66,576us-gaap_InterestReceivable 48,316us-gaap_InterestReceivable
Income tax receivable 639,120us-gaap_IncomeTaxesReceivable 653,116us-gaap_IncomeTaxesReceivable
Deferred tax asset 16,907us-gaap_DeferredTaxAssetsNetCurrent 16,907us-gaap_DeferredTaxAssetsNetCurrent
Deferred royalty buy-down 628,723us-gaap_DeferredCostsCurrent 569,641us-gaap_DeferredCostsCurrent
Prepaid expenses 236,730us-gaap_PrepaidExpenseCurrent 210,847us-gaap_PrepaidExpenseCurrent
Total current assets 28,989,116us-gaap_AssetsCurrent 25,148,810us-gaap_AssetsCurrent
Long-term Investments 1,250,000us-gaap_LongTermInvestments 1,250,000us-gaap_LongTermInvestments
Deferred royalty buy-down - long term 3,085,706us-gaap_DeferredCosts 3,271,120us-gaap_DeferredCosts
Deferred tax assets - long term 1,062,705us-gaap_DeferredTaxAssetsNetNoncurrent 1,061,864us-gaap_DeferredTaxAssetsNetNoncurrent
Patent costs, net 284,193us-gaap_IntangibleAssetsNetExcludingGoodwill 295,030us-gaap_IntangibleAssetsNetExcludingGoodwill
Total assets 34,671,720us-gaap_Assets 31,026,824us-gaap_Assets
Current liabilities:    
Accounts payable and accrued expenses 783,581us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent 543,696us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent
Deferred revenue 49,378us-gaap_DeferredRevenueCurrent 49,378us-gaap_DeferredRevenueCurrent
Accrued liabilities of discontinued operations 78,138us-gaap_DisposalGroupIncludingDiscontinuedOperationAccruedLiabilities 78,138us-gaap_DisposalGroupIncludingDiscontinuedOperationAccruedLiabilities
Total current liabilities 911,097us-gaap_LiabilitiesCurrent 671,212us-gaap_LiabilitiesCurrent
Long-term deferred revenue 86,412us-gaap_DeferredRevenueNoncurrent 98,757us-gaap_DeferredRevenueNoncurrent
Stockholders' equity:    
Series A Preferred stock, $.50 par value, 700,000 shares authorized; none outstanding 0us-gaap_PreferredStockValue 0us-gaap_PreferredStockValue
Common stock, $.001 par value; 10,000,000 shares authorized; 7,074,209 and 7,062,209 shares issued, 6,739,712 and 6,730,622 outstanding as of March 31, 2015 and December 31, 2014, respectively 7,074us-gaap_CommonStockValue 7,062us-gaap_CommonStockValue
Additional paid-in capital 26,260,165us-gaap_AdditionalPaidInCapital 25,059,458us-gaap_AdditionalPaidInCapital
Retained earnings 11,951,878us-gaap_RetainedEarningsAccumulatedDeficit 9,620,978us-gaap_RetainedEarningsAccumulatedDeficit
Treasury stock, 334,497 and 331,587 shares at cost as of March 31,2015 and December 31, 2014, respectively (4,544,906)us-gaap_TreasuryStockValue (4,430,643)us-gaap_TreasuryStockValue
Total stockholders' equity 33,674,211us-gaap_StockholdersEquity 30,256,855us-gaap_StockholdersEquity
Total liabilities and stockholders' equity $ 34,671,720us-gaap_LiabilitiesAndStockholdersEquity $ 31,026,824us-gaap_LiabilitiesAndStockholdersEquity