FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2019

FAIR VALUE MEASUREMENTS [Abstract]

Fair Value Assets Measured on Recurring Basis

The following tables present the Company’s fair value hierarchy for these financial assets as of December 31, 2019 and 2018:

December 31, 2019	Type of Instrument	Fair Value		Level 1		Level 2		Level 3
Cash equivalents	Institutional Money Market	$	950,658	$	950,658	$	-	$	-
Investments	Certificates of Deposit		7,287,409		7,287,409		-		-
Investments	Municipal Bonds		11,341,249		-		11,341,249		-
Investments	Government Agency Bonds		18,182,542		-		18,182,542		-
Investments	Corporate Bonds		63,997,742		-		63,997,742		-

December 31, 2018	Type of Instrument	Fair Value		Level 1		Level 2		Level 3
Cash equivalents	Institutional Money Market	$	6,078,025	$	6,078,025	$	-	$	-
Investments	Certificates of Deposit		5,090,631		5,090,631		-		-
Investments	Municipal Bonds		1,295,350		-		1,295,350		-
Investments	Corporate Bonds		62,420,996		-		62,420,996		-