Available-for-Sale Securities

3 Months Ended

Mar. 31, 2021

Investments Debt And Equity Securities [Abstract]

Note 5. Available-for-Sale Securities

The Company’s portfolio of available-for-sale securities consists of high credit quality corporate debt securities. The following is a summary of the Company’s available-for-sale securities at March 31, 2021 and December 31, 2020:

	March 31, 2021
			Gross		Gross		Fair Value
	Amortized		Unrealized		Unrealized		(Net Carrying
	Cost		Gains		Losses		Amount)
Corporate debt securities		8,987,844		—		—		8,987,844
Total available-for-sale securities	$	8,987,844	$	—	$	—	$	8,987,844

	December 31, 2020
			Gross		Gross		Fair Value
	Amortized		Unrealized		Unrealized		(Net Carrying
	Cost		Gains		Losses		Amount)
Corporate debt securities		6,298,075		—		—		6,298,075
Total available-for-sale securities	$	6,298,075	$	—	$	—	$	6,298,075

There were no gross unrealized losses relating to the Company’s available-for-sale securities investments as of March 31, 2021. The net adjustment to unrealized gains on short-term investments, net of tax in other comprehensive income totaled $0 and $47,697 for the three months ended March 31, 2021 and 2020, respectively.

Contractual maturities of debt investment securities at March 31, 2021 are shown below. Expected maturities may differ from contractual maturities where issuers of the securities have the right to prepay obligations without prepayment penalties.

	Under
	1 Year		1 to 2 Years		Total
Corporate debt securities		8,987,844		—		8,987,844
Total available-for-sale securities	$	8,987,844	$	—	$	8,987,844