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Fair Value Measurement (Tables)

12 Months Ended

Dec. 31, 2014

Fair Value Measurements of Company's Assets and Liabilities that Measured at Fair Value on A Recurring Basis

As of December 31, 2013 and December 31, 2014, information about inputs into the fair value measurements of the Company’s assets and liabilities that are measured at fair value on a recurring basis in periods subsequent to their initial recognition is as follows:

						Fair Value Measurements at Reporting Date Using
Description		As of December 31, 2013				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Short-term investment
Trading securities investments		$	11,341,097			$	—			$	11,341,097			$	—

						Fair Value Measurements at Reporting Date Using
Description		As of December 31, 2014				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Short-term investment
Available-for-sale investments		$	14,746,551				—			$	14,746,551			$	—

Fair Value Measurements of Long-term Financial Instruments

As of December 31, 2013 and 2014, information about inputs into the fair value measurements of the Company’s long-term financial instruments that are not reported at fair value on balance sheet is as following:

		As of December 31, 2013								Fair Value Measurements at Reporting Date Using
Description		Carrying Value				Fair Value				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Long-term investment – cost method investment:
Investment in private equity funds		$	3,197,218			$	3,061,319			$	—			$	—			$	3,061,319
Long-term investment – held-to-maturity:
Investment in fixed income products		$	10,480,964			$	10,774,099			$	—			$	10,774,099			$	—

		As of December 31, 2014								Fair Value Measurements at Reporting Date Using
Description		Carrying Value				Fair Value				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Long-term investment –cost method investment:
Investment in private equity funds products		$	2,488,476			$	3,470,339			$	—			$	—			$	3,470,339
Investment in other products		$	2,224,999			$	2,224,999			$	—			$	—			$	2,224,999
Long-term investment – held-to-maturity:
Investment in fixed income products		$	483,512			$	493,237			$	—			$	493,237			$	—
Investment in other products		$	4,673,952			$	4,920,793			$	—			$	4,920,793			$	—

X

- 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 and/or nonrecurring 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://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19190-110258



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (a),(b)

-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258

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X

- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, 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://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19190-110258

+ Details

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