INVESTMENTS

6 Months Ended

Jun. 30, 2013

INVESTMENTS [Abstract]

INVESTMENTS

4. INVESTMENTS

Investments consist of long-term U.S. government agency securities carried at amortized cost using the effective interest method. The Company classifies its marketable securities as held-to-maturity based upon management’s positive intention and ability to hold these securities until their maturity dates.

The following table summarizes information about held-to-maturity investments at June 30, 2013:

	Amortized Cost			Gross Unrealized Gains			Estimated Fair Value
U.S. government agency securities		$	502,362		$	4,338		$	506,700

As of June 30, 2013, the estimated fair value of the investments was greater than the amortized cost. Because management intends to hold the investments until their maturity dates, this unrealized gain was not recorded in the consolidated financial statements.

The maturities of held-to-maturity investments at June 30, 2013 were as follows:

	Less than 1 Year			Total
U.S. government agency securities		$	502,362		$	502,362