Investment in Available-for-Sale Securities

3 Months Ended

Mar. 31, 2016

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, 2016 (unaudited):

	Cost		Unrealized Gains		Unrealized Losses		Fair Value
U.S. federal agency securities	$	4,852	$	76	$	-	$	4,928
Municipal securities		435,190		1,762		(176)		436,776
Certificates of deposit		1,149,290		24,693		(10,786)		1,163,197
Corporate debt securities		17,048		207		-		17,255
	$	1,606,380	$	26,738	$	(10,962)	$	1,622,156

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

	Cost		Unrealized Gains		Unrealized Losses		Fair Value
U.S. federal agency securities	$	4,830	$	55	$	-	$	4,885
Municipal securities		492,237		789		(980)		492,046
Certificates of deposit		1,256,649		20,182		(14,865)		1,261,966
Corporate debt securities		17,173		115		-		17,288
	$	1,770,889	$	21,141	$	(15,845)	$	1,776,185

The cost and fair value of investments in fixed income available-for-sale debt securities, by contractual maturity, as of March 31, 2016 (unaudited), are as follows:

	Cost		Fair Value
Due within one year	$	991,149	$	1,011,701
Due after one year through three years		415,361		408,358
Due after three years		199,870		202,097
	$	1,606,380	$	1,622,156

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 investments in available-for-sale debt securities as current assets in the accompanying condensed balance sheets.