Short-Term Investments

6 Months Ended

Jun. 30, 2022

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, 2022, are as follows: 

Description	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Accrued Interest		Estimated Fair Value
Level 1: (1)
Cash alternatives	$	6,317,741	$	-	$	(8,426	)	$	-	$	6,309,315
Certificates of deposit		1,662,005		856					1,172		1,664,033
Corporate bonds and notes		1,472,373		-		(3,596	)		11,570		1,480,347
Municipal Securities		2,039,301		-		(1,313	)		22,364		2,060,352
	$	11,491,420	$	856	$	(13,335	)	$	35,106	$	11,514,047

The Company’s short-term investments by significant investment category as of December 31, 2021, are as follows: 

Description	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Accrued Interest		Estimated Fair Value
Level 1: (1)
Cash alternatives	$	2,172,853	$	-	$	-		$	-	$	2,172,853
Certificates of deposit		591,968		-		(3,294	)		1,222		589,896
Corporate bonds and notes		4,293,722		-		(5,432	)		46,820		4,335,110
Municipal Securities		7,411,043		-		(2,334	)		29,182		7,437,891
	$	14,469,586	$	-	$	(11,060	)	$	77,224	$	14,535,750

(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 that 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.