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Investments (Tables) | 6 Months Ended
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Jun. 30, 2024
Investments [Abstract] |
Schedule of Investment Securities Stated at Fair Value | As of June 30, 2024:
|  |  | 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, 2024 |  | (Level 1) |  | (Level 2) |  | (Level 3)
Cash & Cash Equivalents | $ | 260,241,951 |  |  | $ | 260,241,951 |  |  | $ | — |  |  | $ | — |
Short-Term Investments: |  |  |  |  |  |  |
Certificate of Deposit | 995,838 |  |  | 995,838 |  |  | — |  |  | — |
Government Securities | 4,591,123 |  |  | — |  |  | 4,591,123 |  |  | — |
Municipal Bonds | 5,079,264 |  |  | — |  |  | 5,079,264 |  |  | — |
Other | 1,401,088 |  |  | 1,401,088 |  |  | — |  |  | — |
Long-Term Investments: |  |  |  |  |  |  |
Asset Backed Securities | 40,725,036 |  |  | — |  |  | 40,725,036 |  |  | — |
Corporate Bonds | 62,832,820 |  |  | — |  |  | 62,832,820 |  |  | — |
Government Securities | 8,380,081 |  |  | — |  |  | 8,380,081 |  |  | — |
Municipal Bonds | 43,932,270 |  |  | — |  |  | 43,932,270 |  |  | — |
Common Stock | 10,463,734 |  |  | 10,463,734 |  |  | — |  |  | — |
Total | $ | 438,643,205 |  |  | $ | 273,102,611 |  |  | $ | 165,540,594 |  |  | $ | — |
As of December 31, 2023:
|  |  | 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, 2023 |  | (Level 1) |  | (Level 2) |  | (Level 3)
Cash & Cash Equivalents | $ | 226,435,019 |  |  | $ | 226,435,019 |  |  | $ | — |  |  | $ | — |
Short-Term Investments: |  |  |  |  |  |  |
Certificate of Deposit | 994,013 |  |  | 994,013 |  |  | — |  |  | — |
Corporate Bonds | 1,943,886 |  |  | — |  |  | 1,943,886 |  |  | — |
Government Securities | 4,759,507 |  |  | — |  |  | 4,759,507 |  |  | — |
Municipal Bonds | 1,726,658 |  |  | — |  |  | 1,726,658 |  |  | — |
Other | 1,465,388 |  |  | 1,465,388 |  |  | — |  |  | — |
Long-Term Investments: |  |  |  |  |  |  |
Asset-backed Securities | 27,146,504 |  |  | — |  |  | 27,146,504 |  |  | — |
Certificate of Deposit | 748,358 |  |  | 748,358 |  |  | — |  |  | — |
Corporate Bonds | 65,404,340 |  |  | — |  |  | 65,404,340 |  |  | — |
Governmental Securities | 6,227,129 |  |  | — |  |  | 6,227,129 |  |  | — |
Municipal Bonds | 56,336,921 |  |  | — |  |  | 56,336,921 |  |  |
Common Stock | 18,610,519 |  |  | 18,610,519 |  |  | — |  |  | — |
Total | $ | 411,798,242 |  |  | $ | 248,253,297 |  |  | $ | 163,544,945 |  |  | $ | — |
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, 2024 and December 31, 2023: As of June 30, 2024:
|  |  | Unrealized |  |
| Cost |  | Gains |  | Losses |  | Market Value
Short-Term Investments: |  |  |  |  |  |  |
Certificate of Deposit | $ | 1,000,000 |  |  | $ | — |  |  | $ | (4,162) |  |  | $ | 995,838 |
Government Securities | 4,608,148 |  |  | — |  |  | (17,025) |  |  | 4,591,123 |
Municipal Bonds | 5,137,053 |  |  | — |  |  | (57,789) |  |  | 5,079,264 |
Other | 1,401,088 |  |  | — |  |  | — |  |  | 1,401,088 |
Long-Term Investments: |  |  |  |  |  |  |
Asset Backed Securities | 40,635,021 |  |  | 343,922 |  |  | (253,907) |  |  | 40,725,036 |
Corporate Bonds | 63,561,430 |  |  | 203,037 |  |  | (931,647) |  |  | 62,832,820 |
Government Securities | 8,434,018 |  |  | 17,187 |  |  | (71,124) |  |  | 8,380,081 |
Municipal Bonds | 45,668,584 |  |  | 216,797 |  |  | (1,953,111) |  |  | 43,932,270 |
Total | $ | 170,445,342 |  |  | $ | 780,943 |  |  | $ | (3,288,765) |  |  | $ | 167,937,520 |
As of December 31, 2023:
|  |  | Unrealized |  |
| Cost |  | Gains |  | Losses |  | Market Value
Short-Term Investments: |  |  |  |  |  |  |
Certificate of Deposit | $ | 1,000,000 |  |  | $ | — |  |  | $ | (5,987) |  |  | $ | 994,013 |
Corporate Bonds | 1,976,195 |  |  | — |  |  | (32,309) |  |  | 1,943,886 |
Government Securities | 4,754,495 |  |  | 21,141 |  |  | (16,129) |  |  | 4,759,507 |
Municipal Bonds | 1,749,038 |  |  | — |  |  | (22,380) |  |  | 1,726,658 |
Other | 1,465,388 |  |  | — |  |  | — |  |  | 1,465,388 |
Long-Term Investments: |  |  |  |  |  |  |
Asset-backed Securities | 26,923,803 |  |  | 331,847 |  |  | (109,146) |  |  | 27,146,504 |
Certificate of Deposit | 750,000 |  |  |  |  | (1,642) |  |  | 748,358 |
Corporate Bonds | 66,214,398 |  |  | 748,471 |  |  | (1,558,529) |  |  | 65,404,340 |
Government Securities | 6,217,774 |  |  | 10,675 |  |  | (1,320) |  |  | 6,227,129 |
Municipal Bonds | 58,261,615 |  |  | 811,128 |  |  | (2,735,822) |  |  | 56,336,921 |
Common Stock | 17,324,886 |  |  | 1,328,446 |  |  | (42,813) |  |  | 18,610,519 |
Total | $ | 186,637,592 |  |  | $ | 3,251,708 |  |  | $ | (4,526,077) |  |  | $ | 185,363,223 |
Schedule of Unrealized Loss on available-for-sale securities | Unrealized losses on available-for-sale securities as of June 30, 2024, are as follows:
| Aggregate Unrealized Losses |  | Aggregate Fair Value of Investments
Loss duration of less than one year | $ | 455,438 |  |  | $ | 58,239,483 |
Loss duration of greater than one year | 2,833,327 |  |  | 62,929,099 |
Total | $ | 3,288,765 |  |  | $ | 121,168,582 |
Unrealized losses on available-for-sale securities as of December 31, 2023, are as follows:
| Aggregate Unrealized Losses |  | Aggregate Fair Value of Investments
Loss duration of less than one year | $ | 126,074 |  |  | $ | 13,449,592 |
Loss duration of greater than one year | 4,400,003 |  |  | 76,966,258 |
Total | $ | 4,526,077 |  |  | $ | 90,415,850 |
Schedule of Investments Classified by Contractual Maturity Date | Fixed income securities as of June 30, 2024 have contractual maturities as follows:
Due within one year | $ | 10,666,225 |
Due between one and five years | 89,477,474 |
Due over five years | 66,392,732 |
| $ | 166,536,431 |

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