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Condensed Consolidated Balance Sheets (unaudited) - USD ($)
Jun. 30, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 8,547,199 $ 9,810,816
Short term investments 19,245,847 10,900,436
Accounts receivable, net 3,001,975 2,938,731
Investment interest receivable 119,382 48,316
Income tax receivable 708,237 653,116
Deferred tax asset 16,907 16,907
Deferred royalty buy-down 640,587 569,641
Prepaid expenses 469,037 210,847
Total current assets 32,749,171 25,148,810
Long-term Investments 1,437,000 1,250,000
Deferred royalty buy-down - long term, net 3,001,489 3,271,120
Deferred tax assets - long term 821,236 1,061,864
Patent costs, net 289,783 295,030
Total assets 38,298,679 31,026,824
Current liabilities:    
Accounts payable and accrued expenses 831,389 543,696
Deferred revenue 49,379 49,378
Accrued liabilities of discontinued operations 78,138 78,138
Total current liabilities 958,906 671,212
Long-term deferred revenue 74,068 98,757
Stockholders' equity:    
Series A Preferred stock, $.50 par value, 700,000 shares authorized; none outstanding 0 0
Common stock, $.001 par value; 10,000,000 shares authorized; 7,197,475 and 7,062,209 shares issued, 6,847,945 and 6,730,622 outstanding as of June 30, 2015 and December 31, 2014, respectively 7,197 7,062
Additional paid-in capital 28,681,190 25,059,458
Retained earnings 13,709,082 9,620,978
Treasury stock, 349,530 and 331,587 shares at cost as of June 30, 2015 and December 31, 2014, respectively (5,131,764) (4,430,643)
Total stockholders' equity 37,265,705 30,256,855
Total liabilities and stockholders' equity $ 38,298,679 $ 31,026,824