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Marketable Securities and Fair Value Measurements (Tables) | 9 Months Ended
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Sep. 30, 2018
Fair Value Disclosures [Abstract] |
Financial assets and liabilities measured at fair value on a recurring basis | The following table presents the Company’s assets that are measured at fair value on a recurring basis, and are determined using the following inputs as of September 30, 2018:
| Fair Value Measurements at
| September 30, 2018
| Total |  | Quoted Prices in Active Markets (Level 1) |  | Significant Other Unobservable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Assets: |  |  |  |  |  |  |
Money market funds | $ | 1,780,138 |  |  | $ | 1,780,138 |  |  | $ | — |  |  | $ | — |
Mutual funds | 64,874,989 |  |  | — |  |  | 64,874,989 |  |  | — |
US corporate debt securities | 1,221,578 |  |  | — |  |  | 1,221,578 |  |  | — |
Investment in affiliated entities | 12,699,654 |  |  | 12,699,654 |  |  | — |  |  | — |
Total Assets | $ | 80,576,359 |  |  | $ | 14,479,792 |  |  | $ | 66,096,567 |  |  | $ | — |
The following table presents the Company’s assets and liabilities that are measured at fair value on a recurring basis, and are determined using the following inputs as of December 31, 2017:
| Fair Value Measurements at
| December 31, 2017
| Total |  | Quoted Prices in Active Markets (Level 1) |  | Significant Other Unobservable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Assets: |  |  |  |  |  |  |
Money market funds | $ | 9,843,482 |  |  | $ | 9,843,482 |  |  | $ | — |  |  | $ | — |
Mutual funds | 68,565,889 |  |  | — |  |  | 68,565,889 |  |  | — |
US corporate debt securities | 35,072,955 |  |  | — |  |  | 35,072,955 |  |  | — |
Investment in affiliated entities | 11,394,480 |  |  | 11,394,480 |  |  | — |  |  | — |
Total Assets | $ | 124,876,806 |  |  | $ | 21,237,962 |  |  | $ | 103,638,844 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |
Common stock warrants | $ | 360,795 |  |  | $ | — |  |  | $ | — |  |  | $ | 360,795 |
Total Liabilities | $ | 360,795 |  |  | $ | — |  |  | $ | — |  |  | $ | 360,795 |

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- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258 + Details
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