Note B - Marketable Securities

12 Months Ended

Dec. 31, 2011

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

NOTE B - MARKETABLE SECURITIES

The fair values of the Company’s marketable securities are determined in accordance with GAAP, with fair value being defined as the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants.  As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability.  As a basis for considering such assumptions, the Company utilizes the three-tier value hierarchy, as prescribed by GAAP, which prioritizes the inputs used in measuring fair value as follows:

•   Level 1 - inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.

•   Level 2 - inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.

•   Level 3 – inputs to the valuation methodology are unobservable and significant to the fair value measurement.

The following available-for-sale securities, which comprise all of the Company's marketable securities, are re-measured to fair value on a recurring basis and are valued using Level 1 inputs using quoted prices (unadjusted) for identical assets in active markets:

December 31, 2011	Cost		Fair Value		Unrealized  Gain/(Loss)
Available for sale:
U.S. treasury and agencies
Maturities within 1 year	$	249,137	$	234,388	$	(14,749	)
Corporate bonds
Mature within 1 year		267,251		247,719		(19,532	)
Maturities after 1 year through 5 years		203,920		195,899		(8,021	)
Total corporate bonds		471,171		443,618		(27,553	)
Fixed income mutual funds		8,268,624		8,372,216		103,592
Equity and other mutual funds		253,850		245,533		(8,317	)
	$	9,242,782	$	9,295,755	$	52,973
December 31, 2010
Available for sale:
U.S. treasury and agencies
Maturities within 1 year	$	859,589	$	853,682	$	(5,907	)
Maturities after 1 year through 5 years		249,137		244,161		(4,976	)
Total U.S. Treasury and agencies		1,108,726		1,097,843		(10,883	)
Corporate bonds
Maturities after 1 year through 5 years		267,251		259,154		(8,097	)
Fixed income mutual funds		6,678,972		6,715,870		36,898
Equity and other mutual funds		248,993		241,536		(7,457	)
	$	8,303,942	$	8,314,403	$	10,461

Proceeds from the sale and redemption of marketable securities amounted to $3,040,000 and $6,509,428 for the years ended December 31, 2011 and 2010, respectively.  Realized (losses) gains were ($8,765) and $39,958 for the years ended December 31, 2011 and 2010, respectively.

Investment income consisted principally of interest income from bonds and money market funds, and dividend income from bond funds and mutual funds.