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Investments (Tables)
 6 Months Ended
Jun. 30, 2015
Investments, Debt and Equity Securities [Abstract]  
Summary of investments
The following is a summary of short-term investments as of June 30, 2015 and December 31, 2014:
 
 
 
 
As of June 30, 2015
 
Contractual
Maturity (in years)
Cost
 
Gross Unrealized
Gains
 
Gross Unrealized
Losses
 
Fair Market Value
Mutual funds
---
 
$
58,532,030

 
$
—

 
$
(296,239
)
 
$
58,235,791

US corporate debt securities
Less than 2
 
25,983,647

 
4,085

 
(31,741
)
 
25,955,991

Municipal bonds
Less than 1
 
104,336

 
—

 
(297
)
 
104,039

Total investments
 
 
$
84,620,013

 
$
4,085

 
$
(328,277
)
 
$
84,295,821

 
 
 
As of December 31, 2014
 
Contractual
Maturity (in years)
Cost
 
Gross Unrealized
Gains
 
Gross Unrealized
Losses
 
Fair Market Value
Mutual funds
---
 
$
29,487,758

 
$
2,667

 
$
(216,790
)
 
$
29,273,635

US corporate debt securities
Less than 2
 
23,839,606

 
70

 
(37,337
)
 
23,802,339

Total investments
 
 
$
53,327,364

 
$
2,737

 
$
(254,127
)
 
$
53,075,974