FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2018

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, 2018 and 2017:

December 31, 2018	Type of Instrument	Fair Value		Level 1		Level 2		Level 3
Cash equivalents	Institutional Money Market	$	6,078,025	$	6,078,025	$	-	$	-
Investments	Municipal Bonds		1,295,350		-		1,295,350		-
Investments	Corporate Bonds		62,420,996		-		62,420,996		-
Investments	Certificates of Deposit		5,090,631		5,090,631		-		-

December 31, 2017	Type of Instrument	Fair Value		Level 1		Level 2		Level 3
Cash equivalents	Institutional Money Market	$	3,108,549	$	3,108,549	$	-	$	-
Cash equivalents	Municipal Bonds		800,000		-		800,000		-
Investments	Municipal Bonds		1,102,650		-		1,102,650		-
Investments	Corporate Bonds		51,299,068		-		51,299,068		-
Investments	Certificates of Deposit		5,318,227		5,318,227		-		-