Note 4 - Fair Values of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2017

Notes Tables

Fair Value, by Balance Sheet Grouping [Table Text Block]

	June 30, 2017						December 31, 2016
	Carrying Amount			Fair Value			Carrying Amount			Fair Value
Financial Assets:
Cash	$	2,858,014		$	2,858,014		$	5,196,914		$	5,196,914
Accounts receivable		1,869,930			1,869,930			914,741			914,741
Short-term investments:
U. S. agency securities		44,882,881			44,827,679			45,289,747			45,245,318
Certificates of deposit		4,960,000			4,960,000			9,948,000			9,948,000
Total short-term investments	$	49,842,881		$	49,787,679		$	55,237,747		$	55,193,318
Long-term investments
U. S. agency securities		-			-			5,199,077			5,190,640
Financial liabilities:
Accounts payable		(16,307,435	)		(16,307,435	)		(8,955,884	)		(8,955,884	)
Note payable		-			-			(500,000	)		(500,000	)
Note payable - Ramaco Carbon, LLC		-			-			(10,629,275	)		(10,629,275	)