Securities

6 Months Ended

Jun. 30, 2013

Securities [Abstract]

Securities

Note 2 – SECURITIES

United States Treasury securities are classified as “held-to-maturity” securities and are carried at cost, adjusted for accrued interest and amortization of premium or discount.  The aggregate fair values listed in the table below are based on quoted prices in active markets for identical assets (Level 1).  Securities recognized as current assets will mature within one year of the respective period ending date stated below.  Securities recognized as noncurrent assets will mature one to three years from the respective period ending date stated below.  Following is an analysis of the securities as of the periods stated:

	Current				Noncurrent
	June 30, 2013		Dec. 31, 2012		June 30, 2013		Dec. 31, 2012
Aggregate fair value	$	5,994,060	$	8,416,447	$	3,331,139	$	4,282,664
Gross unrealized holding gains		(1,977)		(3,707)		(45)		(698)
Gross unrealized holding losses		-		-		2,309		1,405
Amortized cost basis		5,992,083		8,412,740		3,333,403		4,283,371
Accrued interest		15,046		15,067		4,201		12,086
Amounts shown on balance sheets	$	6,007,129	$	8,427,807	$	3,337,604	$	4,295,457