Investments at September 30, 2020 primarily consist of corporate bonds that have maturities of less than 36 months and marketable equity securities. The Company’s corporate bonds consists of both short-term and long-term bonds and are classified as “held-to-maturity” on the Company’s Consolidated Balance Sheets. The Company’s marketable equity securities consist of mutual funds that invests in U.S. government bonds, U.S. government agency bonds, corporate bonds, and other asset backed debt securities. Dividends from these three funds are automatically reinvested. The Company may also invest excess cash balances in certificates of deposits, money market accounts, government-sponsored enterprise securities, corporate bonds and/or commercial paper. The Company accounts for its held to maturity investments in accordance with FASB ASC 320, Investments – Debt and Equity Securities and its marketable equity securities in accordance with ASC 321, Investments – Equity Securities.

The following tables summarize the Company’s short-term, long-term investments and marketable securities as of September 30, 2020 and September 30, 2019 by measurement category.

Held to Maturity	As of September 30, 2020
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Commercial notes (due within one year)	$	86,889,751	$	1,589,873	$	-		$	88,479,624
Commercial notes (due within one through three years)	$	137,486,883	$	4,573,964	$	(79,471	)	$	141,981,376
Total	$	224,376,634	$	6,163,837	$	(79,471	)	$	230,461,000

	As of September 30, 2019
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Commercial notes (due within one year)	$	36,899,894	$	222,584	$	-		$	37,122,478
Commercial notes (due within one through three years)	$	44,175,993	$	875,258	$	-		$	45,051,251
Total	$	81,075,887	$	1,097,842	$	-		$	82,173,729


Fair Value	As of September 30, 2020
	Amortized Cost		Realized Gains/(Losses)		Gross Unrealized Gains			Gross Unrealized Losses			Fair Value
Marketable securities	$	85,000,000	$	94,734	$	-		$	(75,015	)	$	85,019,719
Total	$	85,000,000	$	94,734	$	-		$	(75,015	)	$	85,019,719