SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 31, 2018

Accounting Policies [Abstract]

Reconciliation of Cash, Cash Equivalents and Restricted Cash

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets that sum to the total of the same amounts shown in the statements of cash flows.

	March 31, 2018		December 31, 2017
Cash and cash equivalents	$	42,257,248	$	34,347,339
Restricted cash	11,658,225		11,275,263
Total cash, cash equivalents and restricted cash	$	53,915,473	$	45,622,602

Reconciliation of Cash, Cash Equivalents and Restricted Cash

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets that sum to the total of the same amounts shown in the statements of cash flows.

	March 31, 2018		December 31, 2017
Cash and cash equivalents	$	42,257,248	$	34,347,339
Restricted cash	11,658,225		11,275,263
Total cash, cash equivalents and restricted cash	$	53,915,473	$	45,622,602

The following table presents the Company's restricted cash and due to broker balances as of March 31, 2018 and December 31, 2017:

	March 31, 2018			December 31, 2017
Restricted cash balance held by:
Broker counterparties for derivatives trading	$	(13,741,125	)	$	(1,123,463	)
Repurchase counterparties as restricted collateral	11,658,225			11,275,263
Total	$	(2,082,900	)	$	10,151,800