Cash, Cash Equivalents and Short-Term Investments (Tables)

3 Months Ended

Mar. 31, 2017

Cash, Cash Equivalents and Short-Term Investments [Abstract]

Schedule of cash, cash equivalents and short-term investments

	As of March 31, 2017		As of December 31, 2016		(Decrease)
Cash and cash equivalents	$	4,252,020	$	5,150,344	$	(898,324	)
Short-term investments		2,978,355		5,474,013		(2,495,658	)
Total	$	7,230,375	$	10,624,357	$	(3,393,982	)

Schedule of held to maturity securities

	As of March 31, 2017			As of December 31, 2016
Amortized cost	$	2,968,000		$	5,450,000
Accrued interest		10,355			24,013
Gross unrealized gains		590			2,073
Gross unrealized losses		(27	)		(59	)
Estimated fair value	$	2,978,918		$	5,476,027