Investments in Available For Sale Securities

12 Months Ended

Dec. 31, 2017

INVESTMENTS IN AVAILABLE FOR SALE SECURITIES

INVESTMENTS IN AVAILABLE FOR SALE SECURITIES

4. INVESTMENTS IN AVAILABLE FOR SALE SECURITIES

As of December 31, 2017, we held investments in available for sale securities with a market value of $24,648,459.  These investments consisted primarily of high quality short term debt instruments. These debt instruments were subject to changes in fair market value due to changes in interest rates.  In 2017, we repositioned our investment portfolio and sold securities with a market value of $51,918,745 with an average cost basis of $52,711,407. In 2017, we had realized gains of $12,927 and realized losses of $805,134.

As of December 31, 2016, we held investments in available for sale securities in several short term bond funds.  These funds generally held high credit quality short term debt instruments.  These debt instruments were subject to changes in fair market value due to changes in interest rates.  The market value of these investments was $40,759,703 as of December 31, 2016.  In 2016, we purchased securities with a market value of $25,781,853 and had unrealized losses of $901,877 as of December 31, 2016. In 2016, we sold securities with a market value of $24,491,677 with an average cost basis of $24,518,497. We had realized gains of $156,461 and realized losses of $183,281.