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Investments (Tables)
6 Months Ended
Jun. 30, 2013
Investments, Debt and Equity Securities [Abstract]  
Summary of investments
The following is a summary of investments as of June 30, 2013 and December 31, 2012:
 
 
 
 
As of June 30, 2013
 
Contractual
Maturity (in years)
Cost
 
Gross Unrealized
Gains
 
Gross Unrealized
Losses
 
Fair Market Value
Mutual funds
Less than 1
 
$
13,191,964

 
$

 
$
(84,185
)
 
$
13,107,779

Total investments
 
 
$
13,191,964

 
$

 
$
(84,185
)
 
$
13,107,779

 
 
 
As of December 31, 2012
 
Contractual
Maturity (in years)
Cost
 
Gross Unrealized
Gains
 
Gross Unrealized
Losses
 
Fair Market Value
Mutual funds
Less than 1
 
$
7,500,063

 
$
83,868

 
$

 
$
7,583,931

Certificates of deposit
Less than 1
 
250,000

 

 

 
250,000

Municipal bonds
Less than 1
 
201,470

 

 
(1,400
)
 
200,070

Total investments
 
 
$
7,951,533

 
$
83,868

 
$
(1,400
)
 
$
8,034,001