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Investments
6 Months Ended
Mar. 31, 2014
Investments

NOTE 2. INVESTMENTS

The Company invests its excess cash balances in short-term and long-term debt securities.  Investments at March 31, 2014 consisted of corporate bonds with maturities remaining of less than three years at the time of purchase.  The Company may also invest excess cash balances in certificates of deposit, money market accounts, US Treasuries, US government agency obligations, corporate debt securities, and/or commercial paper.  The Company accounts for its investments in accordance with FASB ASC 320, Investments – Debt and Equity Securities.  At March 31, 2014, all investments were classified as held-to-maturity securities.

The following tables summarize the Company’s short and long-term investments as of March 31, 2014, and September 30, 2013.

 

 

As of March 31, 2014

 

 

Amortized Cost

 

 

Gross Unrealized Gains

 

 

Gross Unrealized Losses

 

 

Fair Value

 

Commercial notes (due within one year)

$

17,798,475

 

 

$

 

 

$

(115,181

)

 

$

17,683,294

 

Commercial notes (due after one year through two years)

$

34,048,359

 

 

 

 

 

$

(168,195

)

 

$

33,880,164

 

Total

$

51,846,834

 

 

$

 

 

$

(283,376

)

 

$

51,563,458

 

 

 

As of September 30, 2013

 

 

Amortized Cost

 

 

Gross Unrealized Gains

 

 

Gross Unrealized Losses

 

 

Fair Value

 

Commercial notes (due within one year)

$

9,030,261

 

 

$

7,500

 

 

$

(39,281

)

 

$

8,998,480

 

Commercial notes (due after one year through two years)

$

1,702,153

 

 

 

 

 

$

(2,362

)

 

$

1,699,791

 

Total

$

10,732,414

 

 

$

7,500

 

 

$

(41,643

)

 

$

10,698,271