INVESTMENT SECURITIES

6 Months Ended

Jun. 30, 2015

Investments, Debt and Equity Securities [Abstract]

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

NOTE 3 – INVESTMENT SECURITIES

We record our investments as either held-to-maturity or available-for-sale. Held-to-maturity investments are recorded at amortized cost.

The following tables summarize our investment securities at June 30, 2015 and December 31, 2014:

	June 30, 2015
	Amortized cost, as adjusted		Gross unrealized holding gains		Gross unrealized holding losses		Estimated fair value
Short-term investments:
Obligations of domestic governmental agencies (maturing between July 2015 and June 2016) (held-to-maturity)	$	31,765,910	$	6,781	$	1,326	$	31,771,365
Long-term investments:
Obligations of domestic governmental agencies (maturing between July 2016 and June 2017) (held-to-maturity)		18,311,340		17,165		470		18,328,035
Total short-term and long-term investment securities	$	50,077,250	$	23,946	$	1,796	$	50,099,400

	December 31, 2014
	Amortized cost, as adjusted		Gross unrealized holding gains		Gross unrealized holding losses		Estimated fair value
Short-term investments:
Obligations of domestic governmental agencies (maturing between January 2015 and December 2015) (held-to-maturity)	$	23,062,034	$	922	$	5,806	$	23,057,150
Total short-term investment securities	$	23,062,034	$	922	$	5,806	$	23,057,150