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Marketable Securities and Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2012

Marketable Securities and Fair Value Measurements [Abstract]

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

		Fair Value Measurements at September 30, 2012
		Total				Using Quoted Prices in Active Markets for Identical Assets (Level 1)				Using Significant Other Observable Inputs (Level 2)				Using Significant Unobservable Inputs (Level 3)
Assets:
Money market funds		$	2,141,745			$	2,141,745			$	—			$	—
Mutual funds			6,101,043				—				6,101,043				—
Certificates of deposit			2,749,668				—				2,749,668				—
Municipal bonds			1,704,255				—				1,704,255				—
Investment in affiliated entity			8,253,717				8,253,717				—				—
Investment in common stock warrants			520,600				—				—				520,600
Total Assets		$	21,471,028			$	10,395,462			$	10,554,966			$	520,600
Liabilities:
Common stock warrants		$	6,162,948			$	—			$	—			$	6,162,948
Total Liabilities		$	6,162,948			$	—			$	—			$	6,162,948

		Fair Value Measurements at December 31, 2011
		Total				Using Quoted Prices in Active Markets for Identical Assets (Level 1)				Using Significant Other Unobservable Inputs (Level 2)				Using Significant Unobservable Inputs (Level 3)
Assets:
Money market funds		$	16,330,885			$	16,330,885			$	—			$	—
Mutual funds			6,037,115				—				6,037,115				—
Certificates of deposit			5,768,304				—				5,768,304				—
Municipal bonds			1,058,001				—				1,058,001				—
Investment in affiliated entity			9,071,513				9,071,513				—				—
Investment in common stock warrants			100,000				—				—				100,000
Total Assets		$	38,365,818			$	25,402,398			$	12,863,420			$	100,000
Liabilities:
Common stock warrants		$	5,176,319			$	—			$	—			$	5,176,319
Total Liabilities		$	5,176,319			$	—			$	—			$	5,176,319

Assumptions used to estimate the fair values of the common stock warrants

Risk-free interest rate			0.37	%
Expected volatility			125	%
Expected life in years			4.0-4.5
Dividend yield			—

Risk-free interest rate		0.18%-0.37%
Expected volatility		63%-127%
Expected life in years		1.75-4.19
Dividend yield		—

Change in fair value of the financial assets

Balance at January 1, 2012		$	100,000
Common stock warrant recorded at fair value upon acquisition in March 2012			501,000
Decrease in fair value included in change in fair value of common stock warrants			(80,400	)
Balance at September 30, 2012		$	520,600

Changes in fair value of the financial liabilities

Balance at January 1, 2012		$	5,176,319
Increase in fair value included in change in fair value of common stock warrants			986,629
Balance at September 30, 2012		$	6,162,948

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