Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2018

Fair Value Disclosures [Abstract]

Schedule of Cost, Fair Value and Maturities of Short Term Investments

A summary of the cost, fair value and maturities of the Company’s short-term investments is as follows:

	June 30, 2018				December 31, 2017
	Cost		Fair Value		Cost		Fair Value
Short-term investments
Certificate of deposit	$	1,714,375	$	1,721,698	$	-	$	-
Corporate debt securities		11,731,979		11,720,409		12,734,184		12,724,020
Total	$	13,446,354	$	13,442,107	$	12,734,184		12,724,020

	June 30, 2018				December 31, 2017
	Cost		Fair Value		Cost		Fair Value
Short-term investment maturities
Within 3 months	$	4,241,961	$	4,244,210	$	-	$	-
Between 3-12 months		9,204,393		9,197,897		12,734,184		12,724,020
Total	$	13,446,354	$	13,442,107	$	12,734,184	$	12,724,020

Schedule of Unrealized Losses and Fair Value of Investment Securities

The following table shows the Company’s investment securities gross unrealized losses and fair value by investment category and length of time that individual securities have been in a continuous unrealized loss position at June 30, 2018 and December 31, 2017. The Company has reviewed individual securities to determine whether a decline in fair value below the amortizable cost basis is other than temporary.

	June 30, 2018					December 31, 2017
Available for sale securities (all unrealized holding gains and losses are less than 12 months at date of measurement)	Fair Value		Unrealized Holding Gains (Losses)			Fair Value		Unrealized Holding Gains (Losses)
Investments with unrealized gains	$	4,986,645	$	10,663		$	748,148	$	570
Investments with unrealized losses		8,455,462		(14,910	)		11,975,872		(10,734	)
Total	$	13,442,107	$	(4,247	)	$	12,724,020	$	(10,164	)

Schedule of Investment Income

Investment income, which includes net realized losses on sales of available for sale securities and investment income interest and dividends, is summarized as follows:

	Three Months Ended June 30,
	2018		2017
Interest and dividends accrued and paid	$	69,559	$	1,426
Realized gains		3,902		-
Investment income, net	$	73,461	$	1,426

	Six Months Ended June 30,
	2018		2017
Interest and dividends accrued and paid	$	138,848	$	3,417
Realized gains		8,337		-
Investment income, net	$	147,185	$	3,417