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Short-term Investments (Tables)
 6 Months Ended
Jun. 30, 2020
Investments, Debt and Equity Securities [Abstract]  
Schedule of Summary of Investments
The following is a summary of available-for-sale securities as of June 30, 2020 and December 31, 2019:

 
 
 
As of June 30, 2020
 
Contractual
Maturity (in years)
Cost
 
Gross Unrealized
Gains
 
Gross Unrealized
Losses
 
Fair Market Value
Mutual funds
---
 
$
149,641,400

 
$
1,180,185

 
$
(1,871,643
)
 
$
148,949,942

Corporate debt securities
---
 
4,625,000

 
14,400

 
(376,600
)
 
4,262,800

Certificates of deposit
Less than 1
 
3,000,000

 
38,360

 
(20,000
)
 
3,018,360

 
 
 
$
157,266,400

 
$
1,232,945

 
$
(2,268,243
)
 
$
156,231,102

 
 
 
As of December 31, 2019
 
Contractual
Maturity (in years)
Cost
 
Gross Unrealized
Gains
 
Gross Unrealized
Losses
 
Fair Market Value
Mutual funds
---
 
$
66,599,219

 
$
754,709

 
$
(15,911
)
 
$
67,338,017