Investments (Tables)

3 Months Ended

Dec. 31, 2015

Summary of Investments by Type of Security

The following table summarizes investments by type of security as of December 31, 2015:

	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Market Value
Available-for-sale securities:
Corporate debt securities, short-term	$	19,570,392	$	—	$	(16,520	)	$	19,553,872
Corporate debt securities, long-term		751,610		—		(3,860	)		747,750
Government debt securities, short-term		1,551,424		257		(158	)		1,551,523
Government debt securities, long-term		1,399,745		—		(2,930	)		1,396,815
Total	$	23,273,171	$	257	$	(23,468	)	$	23,249,960

The following table summarizes investments by type of security as of September30, 2015:

	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Market Value
Available-for-sale securities:
Corporate debt securities, short-term	$	23,924,252	$	3,466	$	(6,390	)	$	23,921,328
Corporate debt securities, long-term		—		—		—			—
Total	$	23,924,252	$	3,466	$	(6,390	)	$	23,921,328

Summary of Fair Value of Investments Measured on Recurring Basis

Based on the fair value hierarchy, all of the Company’s investments are classified as Level 2, as represented in the following table:

	Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
December 31, 2015:
Assets:
Short-term investments:
Corporate debt securities
Industrial	$	9,688,759	$	—
Financial		7,065,722		—
Utility		602,586		—
Commercial paper
Financial		1,498,154		—
Industrial		698,651		—
Government debt securities
U.S. Treasury		1,551,523		—
Long-term investments:
Corporate debt securities
Financial		747,750		—
Government debt securities
U.S. Treasury		1,396,815		—
Total assets at fair value	$	23,249,960	$	—
Liabilities:
Acquisition-related contingent consideration		—		123,730
Total liabilities at fair value	$	—	$	123,730

	Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
September 30, 2015:
Assets:
Short-term investments:
Corporate debt securities
Financial	$	10,308,482	$	—
Industrial		9,665,243		—
Utility		1,801,803		—
Commercial paper
Industrial		1,447,655		—
Financial		698,145		—
Total assets at fair value	$	23,921,328	$	—
Liabilities:
Acquisition-related contingent consideration		—		46,743
Total liabilities at fair value	$	—	$	46,743

Contingent Consideration

Summary of Contingent Consideration Measured at Fair Value

The following table includes a summary of the contingent consideration measured at fair value using significant unobservable inputs (Level 3) during the three months ended December 31, 2015:

Balance at September 30, 2015	$	46,743
Expenses recorded due to changes in fair value		76,987
Payments		—
Balance at December 31, 2015	$	123,730