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Short-term and long-term investments (Tables)
12 Months Ended
Dec. 31, 2014
Investments, Debt and Equity Securities [Abstract]  
Composition of Short-Term and Long -Term Investments

The composition of short-term and long-term investments is as follows:

 

     December 31,      December 31,  
     2014      2013  

Short-term investments

     

Time Deposits

   $ 58,475,057       $ 66,677,156   

Sovereign Debt Securities

     4,721,440         5,520,193   

Corporate Debt Securities

     81,810,731         4,395,865   

Certificates of deposits

     3,802,311         —     
  

 

 

    

 

 

 

Total

$ 148,809,539    $ 76,593,214   
  

 

 

    

 

 

 

Long-term investments

Sovereign Debt Securities

  44,428,490      24,875,697   

Corporate Debt Securities

  156,832,560      20,844,040   

Certificates of deposits

  4,003,992      —     
  

 

 

    

 

 

 

Total

$ 205,265,042    $ 45,719,737