FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2015

FAIR VALUE MEASUREMENTS [Abstract]

Fair Value Assets Measured on Recurring Basis

The following tables present the Company’s fair value hierarchy for these financial assets as of December 31, 2015 and 2014:

December 31, 2015	Type of Instrument	Fair Value		Level 1		Level 2		Level 3
Cash equivalents	Institutional Money Market	$	715,784	$	715,784		-		-
Investments	Municipal Bonds		6,617,042		-		6,617,042		-
Investments	Corporate Bonds		11,480,000		-		11,480,000		-
Investments	Certificates of Deposit		13,847,041		13,847,041		-		-

December 31, 2014	Type of Instrument	Fair Value		Level 1		Level 2		Level 3
Cash equivalents	Institutional Money Market	$	1,604,277	$	1,604,277		-		-
Investments	Pre-Refunded Municipal Bonds		2,287,773		-		2,287,773		-
Investments	Certificates of Deposit		9,862,664		9,862,664		-		-