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v3.22.2

Investments (Tables) | 6 Months Ended
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Jun. 30, 2022
Investments [Abstract] |
Investment Securities Stated at Fair Value | Assets or liabilities that have recurring fair value measurements are shown below as of June 30, 2022 and December 31, 2021: As of June 30, 2022:
|  |  | Fair Value Measurements at Reporting Date Using
| Total as of |  | Quoted Prices in Active Markets for Identical Assets |  | Significant Other Observable Inputs |  | Significant Unobservable Inputs
Description | June 30, 2022 |  | (Level 1) |  | (Level 2) |  | (Level 3)
Cash & Cash Equivalents | $ | 269,372,471 |  |  | $ | 269,372,471 |  |  | $ | — |  |  | $ | — |
Short-Term Investments: |  |  |  |  |  |  |
Certificate of Deposit | 1,752,930 |  |  | 1,752,930 |  |  | — |  |  | — |
Corporate Bonds | 5,467,319 |  |  | — |  |  | 5,467,319 |  |  | — |
Municipal Bonds | 1,729,072 |  |  | — |  |  | 1,729,072 |  |  | — |
Other | 3,042,833 |  |  | 3,042,833 |  |  | — |  |  | — |
Long-Term Investments: |  |  |  |  |  |  |
Asset Backed Securities | 23,356,697 |  |  | — |  |  | 23,356,697 |  |  | — |
Certificate of Deposit | 735,897 |  |  | 735,897 |  |  | — |  |  | — |
Corporate Bonds | 34,178,081 |  |  | — |  |  | 34,178,081 |  |  | — |
Government Securities | 38,901,568 |  |  | — |  |  | 38,901,568 |  |  | — |
Municipal Bonds | 52,972,792 |  |  | — |  |  | 52,972,792 |  |  | — |
Total | $ | 431,509,660 |  |  | $ | 274,904,131 |  |  | $ | 156,605,529 |  |  | $ | — |
As of December 31, 2021:
|  |  | Fair Value Measurements at Reporting Date Using
| Total as of |  | Quoted Prices in Active Markets for Identical Assets |  | Significant Other Observable Inputs |  | Significant Unobservable Inputs
Description | December 31, 2021 |  | (Level 1) |  | (Level 2) |  | (Level 3)
Cash & Cash Equivalents | $ | 262,311,670 |  |  | $ | 262,311,670 |  |  | $ | — |  |  | $ | — |
Short-Term Investments: |  |  |  |  |  |  |
Certificate of Deposit | 1,507,770 |  |  | 1,507,770 |  |  | — |  |  | — |
Corporate Bonds | 2,018,440 |  |  | — |  |  | 2,018,440 |  |  | — |
Government Securities | — |  |  | — |  |  | — |  |  | — |
Municipal Bonds | — |  |  | — |  |  | — |  |  | — |
Other | 1,897,402 |  |  | 1,897,402 |  |  | — |  |  | — |
Long-Term Investments: |  |  |  |  |  |  |
Asset-backed Securities | 25,799,513 |  |  | — |  |  | 25,799,513 |  |  | — |
Certificate of Deposit | 2,056,710 |  |  | 2,056,710 |  |  | — |  |  | — |
Corporate Bonds | 40,354,929 |  |  | — |  |  | 40,354,929 |  |  | — |
Governmental Securities | 47,944,036 |  |  | — |  |  | 47,944,036 |  |  | — |
Municipal Bonds | 74,720,480 |  |  | — |  |  | 74,720,480 |  |  | — |
Total | $ | 458,610,950 |  |  | $ | 267,773,552 |  |  | $ | 190,837,398 |  |  | $ | — |
Schedule of Amortized Cost, Unrealized Gains and Losses, And Market Value of Investment Securities | The amortized cost, unrealized gains and losses, and market value of investment securities are shown as of June 30, 2022 and December 31, 2021: As of June 30, 2022:
|  |  | Unrealized |  |
| Cost |  | Gains |  | Losses |  | Market Value
Short-Term Investments: |  |  |  |  |  |  |
Certificate of Deposit | $ | 1,750,990 |  |  | $ | 4,098 |  |  | $ | (2,158) |  |  | $ | 1,752,930 |
Corporate Bonds | 5,630,319 |  |  | — |  |  | (163,000) |  |  | 5,467,319 |
Municipal Bonds | 1,740,477 |  |  | 760 |  |  | (12,165) |  |  | 1,729,072 |
Other | 3,042,833 |  |  | — |  |  | — |  |  | 3,042,833 |
Long-Term Investments: |  |  |  |  |  |  |
Asset Backed Securities | 24,055,501 |  |  | — |  |  | (698,804) |  |  | 23,356,697 |
Certificate of Deposit | 750,000 |  |  | — |  |  | (14,103) |  |  | 735,897 |
Corporate Bonds | 37,765,445 |  |  | — |  |  | (3,587,364) |  |  | 34,178,081 |
Government Securities | 41,238,181 |  |  | 2,361 |  |  | (2,338,974) |  |  | 38,901,568 |
Municipal Bonds | 56,098,534 |  |  | 188,395 |  |  | (3,314,137) |  |  | 52,972,792 |
Total | $ | 172,072,280 |  |  | $ | 195,614 |  |  | $ | (10,130,705) |  |  | $ | 162,137,189 |
As of December 31, 2021:
|  |  | Unrealized |  |
| Cost |  | Gains |  | Losses |  | Market Value
Short-Term Investments: |  |  |  |  |  |  |
Certificate of Deposit | $ | 1,500,543 |  |  | $ | 7,227 |  |  | $ | — |  |  | $ | 1,507,770 |
Corporate Bonds | 1,994,639 |  |  | 23,801 |  |  | — |  |  | 2,018,440 |
Other | 1,897,402 |  |  | — |  |  | — |  |  | 1,897,402 |
Long-Term Investments: |  |  |  |  |  |  |
Asset-backed Securities | 26,352,630 |  |  | 34,771 |  |  | (587,888) |  |  | 25,799,513 |
Certificate of Deposit | 2,001,714 |  |  | 54,996 |  |  | — |  |  | 2,056,710 |
Corporate Bonds | 40,716,866 |  |  | 168,416 |  |  | (530,353) |  |  | 40,354,929 |
Government Securities | 48,385,672 |  |  | 55,939 |  |  | (497,575) |  |  | 47,944,036 |
Municipal Bonds | 72,175,568 |  |  | 2,747,964 |  |  | (203,052) |  |  | 74,720,480 |
Total | $ | 195,025,034 |  |  | $ | 3,093,114 |  |  | $ | (1,818,868) |  |  | $ | 196,299,280 |
Schedule of Unrealized Loss on Investments | Unrealized losses on investments as of June 30, 2022, are as follows:
| Aggregate Unrealized Losses |  | Aggregate Fair Value of Investments
Loss duration of less than one year | $ | 8,893,651 |  |  | $ | 143,233,962 |
Loss duration of greater than one year | 1,237,054 |  |  | 9,273,913 |
Total | $ | 10,130,705 |  |  | $ | 152,507,875 |
Unrealized losses on investments as of December 31, 2021, are as follows:
| Aggregate Unrealized Losses |  | Aggregate Fair Value of Investments
Loss duration of less than one year | $ | 1,244,053 |  |  | $ | 94,417,123 |
Loss duration of greater than one year | 574,815 |  |  | 6,875,230 |
Total | $ | 1,818,868 |  |  | $ | 101,292,353 |
Investments Classified by Contractual Maturity Date | Fixed income securities as of June 30, 2022 have contractual maturities as follows:
Due within one year | $ | 8,949,321 |
Due between one and five years | 89,732,074 |
Due over five years | 60,412,961 |
| $ | 159,094,356 |

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- Definition 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). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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