Investments in Available For Sale Securities	6 Months Ended
Jun. 30, 2018
INVESTMENTS IN AVAILABLE FOR SALE SECURITIES
INVESTMENTS IN AVAILABLE FOR SALE SECURITIES	4. Investments - Available-for-Sale Investments available-for-sale are short-term investments, consisting of investments in short-term notes and bonds and are stated at fair value based upon observed market prices (Level 1 in the fair value hierarchy). The portfolio generally consists of high credit quality short-term debt instruments. These instruments are subject to changes in fair market value due primarily to changes in interest rates. The fair value of these investments was $20,936,973 as of June 30, 2018. Unrealized holding gains or losses on these securities are included in accumulated other comprehensive income (loss). Realized gains and losses, including declines in value judged to be other-than-temporary on available-for-sale securities are included as a component of other income or expense. Gross unrealized losses for the three months ended June 30, 2018 was $142,454. There were no unrealized gains were for the three months ended June 30, 2018. Realized gains for the three months ended June 30, 2018 were $2,213 and realized losses were $124,208 for the same period. Gross unrealized losses for the six months ended June 30, 2018 were $151,057and gross unrealized gains were $103,515 as of June 30, 2018. There were realized gains of $128,625 and realized losses of $3,638 during the six months ended June 30, 2018. The Company has evaluated the near term interest rate environment and the expected holding period of the investments along with the duration of the portfolio assets in assessing the severity and duration of potential impairments. Based on our evaluation, the Company does not consider those investments to be other-than-temporarily impaired at June 30, 2018.

4. Investments - Available-for-Sale

Investments available-for-sale are short-term investments, consisting of investments in short-term notes and bonds and are stated at fair value based upon observed market prices (Level 1 in the fair value hierarchy). The portfolio generally consists of high credit quality short-term debt instruments. These instruments are subject to changes in fair market value due primarily to changes in interest rates. The fair value of these investments was $20,936,973 as of June 30, 2018. Unrealized holding gains or losses on these securities are included in accumulated other comprehensive income (loss). Realized gains and losses, including declines in value judged to be other-than-temporary on available-for-sale securities are included as a component of other income or expense. Gross unrealized losses for the three months ended June 30, 2018 was $142,454. There were no unrealized gains were for the three months ended June 30, 2018. Realized gains for the three months ended June 30, 2018 were $2,213 and realized losses were $124,208 for the same period. Gross unrealized losses for the six months ended June 30, 2018 were $151,057and gross unrealized gains were $103,515 as of June 30, 2018. There were realized gains of $128,625 and realized losses of $3,638 during the six months ended June 30, 2018.

The Company has evaluated the near term interest rate environment and the expected holding period of the investments along with the duration of the portfolio assets in assessing the severity and duration of potential impairments. Based on our evaluation, the Company does not consider those investments to be other-than-temporarily impaired at June 30, 2018.