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Investments (Tables)
3 Months Ended
Mar. 31, 2014
Investments, Debt and Equity Securities [Abstract]  
Summary of investments
The following is a summary of short-term investments as of March 31, 2014 and December 31, 2013:
 
 
 
 
As of March 31, 2014
 
Contractual
Maturity (in years)
Cost
 
Gross Unrealized
Gains
 
Gross Unrealized
Losses
 
Fair Market Value
Mutual funds
---
 
$
17,278,158

 
$

 
$
(71,638
)
 
$
17,206,520

Municipal bonds
Less than 1
 
805,144

 

 
(172
)
 
804,972

Total investments
 
 
$
18,083,302

 
$

 
$
(71,810
)
 
$
18,011,492

 
 
 
As of December 31, 2013
 
Contractual
Maturity (in years)
Cost
 
Gross Unrealized
Gains
 
Gross Unrealized
Losses
 
Fair Market Value
Mutual funds
---
 
$
18,178,518

 
$

 
$
(78,614
)
 
$
18,099,904

Municipal bonds
Less than 1
 
805,144

 
560

 

 
805,704

Total investments
 
 
$
18,983,662

 
$
560

 
$
(78,614
)
 
$
18,905,608