MARKETABLE SECURITIES

12 Months Ended

Dec. 31, 2023

NOTE 4 - MARKETABLE SECURITIES

Based upon the Company’s intent and ability to hold its US Treasury and federal bond securities to maturity (which maturities range up to 22 months at purchase), such securities have been classified as held-to-maturity and are carried at amortized cost, which approximates fair market value. Accrued bond interest receivable as of December 31, 2023 is $11,828.

The following table summarizes the cost and fair value of marketable securities at December 31, 2023 is as follows:

	Amortized Cost		Gross Unrealized Gain (Loss)		Fair Value

Held-to-maturity securities
US Treasuries	$	4,194,958	$	77,042	$	4,272,000

Maturities of marketable securities were as follows at December 31, 2023:

Held-to-maturity securities:
Due in one year or less	$	3,494,958
Due in 12 – 24 months		700,000
	$	4,194,958

The Company’s investments in marketable securities consist primarily of investments in US Treasury securities and federal bonds. Market values were determined for each individual security in the investment portfolio.

Management evaluates securities for other-than-temporary impairment at least on an annual basis, and more frequently when economic or market concerns warrant such evaluation. Consideration is given to (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. Management has determined that no other-than-temporary impairment exists as of December 31, 2023.