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Fair Value Measurement of Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2012

Fair Value Measurement of Assets and Liabilities [Abstract]

Financial assets and liabilities measured at fair value on a recurring basis

Description		Balances as of March 31, 2012				Quoted Prices in active markets for identical Assets (Level 1)				Balances as of December 31, 2011				Quoted Prices in active markets for identical Assets (Level 1)
Assets
Cash and Cash Equivalents:
Money Market Funds		$	24,953,117			$	24,953,117			$	20,836,617			$	20,836,617
Investments:
Asset backed securities			18,261,045				18,261,045				18,309,316				18,309,316
Sovereign Debt Securities			10,170,152				10,170,152				10,708,563				10,708,563
Corporate Debt Securities			20,335,233				20,335,233				17,824,331				17,824,331
Total financial Assets		$	73,719,547			$	73,719,547			$	67,678,827			$	67,678,827

Fair value of short and long-term investments classified as available for sale securities

		March 31, 2012
		Gross Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses (1)				Estimated Fair Value
Short-term investments
Sovereign Debt Securities		$	1,776,034			$	16,721			$	(12,902	)		$	1,779,853
Corporate Debt Securities			3,921,896				42,568				(62,360	)			3,902,104
Total Short-term investments		$	5,697,930			$	59,289			$	(75,262	)		$	5,681,957
Long-term investments
Sovereign Debt Securities		$	8,016,383			$	418,169			$	(44,253	)		$	8,390,299
Corporate Debt Securities			16,296,878				246,235				(109,984	)			16,433,129
Asset Backed Securities (2)			17,702,718				769,170				(210,843	)			18,261,045
Total Long-term investments		$	42,015,979			$	1,433,574			$	(365,080	)		$	43,084,473
Total		$	47,713,909			$	1,492,863			$	(440,342	)		$	48,766,430
		December 31, 2011
		Gross Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses (1)				Estimated Fair Value
Short-term investments
Sovereign Debt Securities		$	1,554,448			$	322			$	—			$	1,554,770
Corporate Debt Securities			1,375,006				—				(20,882	)			1,354,124
Total Short-term investments		$	2,929,454			$	322			$	(20,882	)		$	2,908,894
Long-term investments
Sovereign Debt Securities		$	8,483,883			$	669,910			$	—			$	9,153,793
Corporate Debt Securities			16,386,974				187,946				(104,713	)			16,470,207
Asset Backed Securities (2)			17,647,012				715,749				(53,445	)			18,309,316
Total Long-term investments		$	42,517,869			$	1,573,605			$	(158,158	)		$	43,933,316
Total		$	45,447,323			$	1,573,927			$	(179,040	)		$	46,842,210

(1) Unrealized losses from securities are primarily attributable to market price movements. Management does not believe any remaining unrealized losses represent other-than-temporary impairments based on our evaluation of available evidence including the credit rating of the investments, as of March 31, 2012 and December 31, 2011.

(2) Asset backed securities have investment grade credit ratings. These investments are collateralized by real estated and they are guaranteed by the U.S. Federal Gonvernment.

Estimated fair value of short-term and long-term investments

One year or less		$	5,681,957
One year to two years			2,184,022
Two years to three years			14,481,405
Three years to four years			10,572,742
Four years to five years			5,521,910
More than five years			10,324,394
Total		$	48,766,430

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Available for sale securities debt maturities fair value.

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Tabular disclosure of available-for-sale securities which consist of all investments in certain debt and equity securities neither classified as trading or held-to-maturity securities. A debt security represents a creditor relationship with an enterprise. Debt securities include, among other items, US Treasury securities, US government securities, municipal securities, corporate bonds, convertible debt, commercial paper, and all securitized debt instruments. An equity security represents an ownership interest in an enterprise or the right to acquire or dispose of an ownership interest in an enterprise at fixed or determinable prices. Equity securities include, among other things, common stock, certain preferred stock, warrant rights, call options, and put options, but do not include convertible debt.

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Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

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