Securities

6 Months Ended

Jun. 30, 2014

Securities [Abstract]

Securities

Note 2 – SECURITIES

United States Treasury securities are classified as “held-to-maturity” securities and are carried at cost, adjusted for accrued interest and amortization of premium or discount.  The aggregate fair values listed in the table below are based on quoted prices in active markets for identical assets (Level 1).  Securities classified as current assets will mature within one year of the respective period ending date stated below.  Securities classified as noncurrent assets will mature one to three years from the respective period ending date stated below.  Following is an analysis of the securities as of the periods stated:

	Current				Noncurrent
	June 30, 2014		Dec. 31, 2013		June 30, 2014		Dec. 31, 2013
Aggregate fair value	$	8,736,292	$	5,457,842	$	-	$	2,880,219
Gross unrealized holding gains		(3,383)		(1,279)		-		(442)
Gross unrealized holding losses		176		26		-		294
Amortized cost basis		8,733,085		5,456,589		-		2,880,071
Accrued interest		8,357		12,086		-		3,180
Amounts shown on balance sheets	$	8,741,442	$	5,468,675	$	-	$	2,883,251