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Cash, Cash Equivalent, and Investments (Tables) | 12 Months Ended
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Dec. 31, 2019
Cash and Cash Equivalents [Abstract] |
Schedule of Cash, Available-for-sale Securities, Short-term and Long-term Investment Securities | The following table shows the Company’s cash, available-for-sale securities, and short-term and long-term investment securities by major security type as of December 31, 2019 and 2018:
| December 31, 2019 |  |  |  |  |  |  |  |
|  |  |  |  | Gross |  | Gross |  |
| Level |  |  |  | Unrealized |  | Unrealized |  |
| (1) |  | Fair Value |  | Holding Gains |  | Holding Losses |  | Adjusted Cost
Cash and Cash Equivalents |  |  |  |  |  |  |  |  |
Cash |  |  | $ | 1,010,510 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,010,510 |
Money Market Funds | 1 |  |  | 3,813,034 |  |  | — |  |  | — |  |  | 3,813,034 |
Subtotal |  |  | 4,823,544 |  |  | — |  |  | — |  |  | 4,823,544 |
Short-Term Investment Securities (2) |  |  |  |  |  |  |  |  |
Corporate Bonds (4) | 2 |  |  | 29,387,053 |  |  | 5,898 |  |  | (17,991) |  |  | 29,399,146 |
Long-Term Investment Securities (3) |  |  |  |  |  |  |  |  |
Corporate Bonds (4) | 2 |  |  | 1,528,190 |  |  | 16,554 |  |  | — |  |  | 1,511,636 |
Total |  |  | $ | 35,738,787 |  |  | $ | 22,452 |  |  | $ | (17,991) |  |  | $ | 35,734,326 |
| December 31, 2018 |  |  |  |  |  |  |  |
|  |  |  |  | Gross |  | Gross |  |
| Level |  |  |  | Unrealized |  | Unrealized |  |
| (1) |  | Fair Value |  | Holding Gains |  | Holding Losses |  | Adjusted Cost
Cash and Cash Equivalents |  |  |  |  |  |  |  |  |  |
Cash |  |  | $ | 1,048,272 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,048,272 |
Money Market Funds | 1 |  |  | 1,338,042 |  |  | — |  |  | — |  |  | 1,338,042 |
Subtotal |  |  | 2,386,314 |  |  | — |  |  | — |  |  | 2,386,314 |
Short-Term Investment Securities (2) |  |  |  |  |  |  |  |  |
Corporate Bonds (4) | 2 |  |  | 38,731,120 |  |  | — |  |  | (85,321) |  |  | 38,816,441 |
Total |  |  | $ | 41,117,434 |  |  | $ | — |  |  | $ | (85,321) |  |  | $ | 41,202,755 |
_________________ Notes: (1) Definition of the three-level fair value hierarchy: •Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities •Level 2 - Other inputs that are directly or indirectly observable in the markets •Level 3 - Inputs that are generally unobservable (2) Short-term investment securities will mature within 12 months or less, from the applicable reporting date. (3) Long-term investment securities will mature longer than 12 months from the applicable reporting date. (4) The premium paid to purchase held-to-maturity investment securities was $233,550 and $378,681 for the years ended December 31, 2019 and 2018, respectively.

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