Cash, Cash Equivalents, and Investments (Tables)

6 Months Ended

Jun. 30, 2013

Cash And Cash Equivalents [Abstract]

Summary of Cash, Cash Equivalents and Held-to-Maturity Investments by Type

The following is a summary of cash, cash equivalents and held-to-maturity investments by type at June 30, 2013 and December 31, 2012:

	June 30, 2013									December 31, 2012
			Gross		Gross							Gross		Gross
			Unrealized		Unrealized							Unrealized		Unrealized
	Amortized Cost		Gains		Losses			Fair Value		Amortized Cost		Gains		Losses			Fair Value
Cash and money market funds	$	17,091,149	$	—	$	—		$	17,091,149	$	36,126,791	$	—	$	—		$	36,126,791
State and municipal obligations		11,869,005		8,231		(9	)		11,877,227		—		—		—			—
Corporate bonds		1,001,384		106		—			1,001,490		958		—		—			958
Certificates of deposit		1,726,775		2		(30	)		1,726,747		1,680,000		—		(1,488	)		1,678,512
Total cash, cash equivalents and investments	$	31,688,313	$	8,339	$	(39	)	$	31,696,613	$	37,807,749	$	—	$	(1,488	)	$	37,806,261

Summarized Classification of Short Term and Long Term Investments

The following table summarizes the classification of cash, cash equivalents and investments in the accompanying balance sheet:

	June 30,		December 31,
	2013		2012
Cash	$	14,731,037	$	19,811,735
Cash equivalents		4,348,304		16,315,056
Total cash and cash equivalents		19,079,341		36,126,791
Short-term investments		10,733,249		1,680,958
Long-term investments		1,875,723		—
Total cash, cash equivalents and investments	$	31,688,313	$	37,807,749

Summary of Amortized Cost and Fair Value of Short-term and Long-term Investments

The following table summarizes the amortized cost and fair value of the short-term and long-term investments held by the Company at June 30, 2013 by contractual maturity:

	Amortized Cost		Fair Value
Due in less than one year	$	10,733,249	$	10,740,229
Due after one year, through two years		1,875,723		1,876,217
Total short-term and long-term investments	$	12,608,972	$	12,616,446