Investment in Available-for-Sale Securities

3 Months Ended

Mar. 31, 2015

Available-For-Sale Securities [Abstract]

Available For Sale Securities Disclosure [Text Block]

4.  Investment in Available-for-Sale Securities

The following is a summary of the Company’s investments in available-for-sale securities as of March 31, 2015 (unaudited):

	Cost		Unrealized Gains		Unrealized Losses		Fair Value
U.S. federal agency securities	$	49,761	$	87	$	(29)	$	49,819
Municipal securities		273,705		293		(785)		273,213
Certificates of deposit		1,313,716		22,647		(14,023)		1,322,340
Corporate debt securities		37,655		453		-		38,108
	$	1,674,837	$	23,480	$	(14,837)	$	1,683,480

The following is a summary of the Company’s investments in available-for-sale securities as of December 31, 2014:

	Cost		Unrealized Gains		Unrealized Losses		Fair Value
U.S. federal agency securities	$	49,739	$	68	$	(117)	$	49,690
Municipal securities		441,372		463		(966)		440,869
Certificates of deposit		1,395,990		22,904		(14,861)		1,404,033
Corporate debt securities		37,911		298		-		38,209
	$	1,925,012	$	23,733	$	(15,944)	$	1,932,801

The cost and fair value of investments in fixed income available-for-sale debt securities, by contractual maturity, as of March 31, 2015 (unaudited), are as follows:

	Cost		Fair Value
Due within one year	$	679,506	$	676,232
Due after one year through three years		815,187		826,515
Due after three years		180,144		180,733
	$	1,674,837	$	1,683,480

Expected maturities will differ from contractual maturities because the issuers of certain debt securities have the right to call or prepay their obligations without any penalties.  The Company has classified the entire fair value of its investment in available-for-sale debt securities as current assets in the accompanying balance sheets.