Note 3 - Cash, Cash Equivalents and Investments

3 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Cash and Cash Equivalents Disclosure [Text Block]

Note

3.

Cash, Cash Equivalents and Investments

The Company currently invests its excess cash in bank certificates of deposit (“CDs”) that are fully insured by the Federal Deposit Insurance Corporation (“FDIC”) and Unites States Treasury (“Treasuries”) securities with terms of

not

more than

five

years, as well as money market accounts. CDs and Treasuries with original maturities of more than

three

months are reported as held-to-maturity investments and are recorded at amortized cost, which approximates fair value due to the negligible risk of changes in value due to interest rates.

The maturity dates of the Company’s investments as of

December 31, 2019

and

September 30, 2019

are as follows:

	December 31, 2019		September 30, 2019
Less than one year	$	14,523,321	$	13,524,270
1-5 years		21,704,000		23,902,000
Total	$	36,227,321	$	37,426,270