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Short-Term Investments
 6 Months Ended
Jun. 30, 2021
Investments Debt And Equity Securities [Abstract]  
Short-Term Investments

NOTE 3 SHORT-TERM INVESTMENTS

The Company’s short-term investments by significant investment category as of June 30, 2021, are as follows: 

Description

Amortized Cost

 

 

 

 

Gross Unrealized Gains

 

 

 

 

Gross Unrealized Losses

 

 

 

 

Accrued Interest

 

 

Estimated Fair Value

 

Level 1: (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash alternatives

$

734,556

 

 

 

 

$

-

 

 

 

 

$

-

 

 

 

 

$

-

 

 

$

734,556

 

Certificates of deposit

 

593,602

 

 

 

 

 

-

 

 

 

 

 

16

 

 

 

 

 

1,129

 

 

 

594,715

 

Corporate bonds and notes

 

4,854,610

 

 

 

 

 

-

 

 

 

 

 

465

 

 

 

 

 

47,311

 

 

 

4,901,456

 

Municipal Securities

 

8,264,729

 

 

 

 

 

1,082

 

 

 

 

 

-

 

 

 

 

 

27,711

 

 

 

8,293,522

 

 

$

14,447,497

 

 

 

 

$

1,082

 

 

 

 

$

481

 

 

 

 

$

76,151

 

 

$

14,524,249

 

 

 

(1)

Level 1 fair value estimates are based on quoted prices in active markets for identical assets or liabilities.

 

 

Cash alternatives represents cash balances in savings accounts which are temporarily on-hand that are immediately available for investments in accordance with the Company’s investment policy.

 

 The Company typically invests in highly rated securities and its investment policy limits the amount of credit exposure to any one issuer. The policy requires investments in fixed income instruments denominated and payable in U.S. dollars only and requires investments to be investment grade, with a primary objective of minimizing the potential risk of principal loss.