Investment in Available-for-Sale Securities

9 Months Ended

Sep. 30, 2015

Available-For-Sale Securities [Abstract]

Available For Sale Securities Disclosure [Text Block]

4.  Investment in Available-for-Sale Securities

The following is a summary of the Company’s investments in available-for-sale securities as of September 30, 2015 (unaudited):

			Unrealized		Unrealized
	Cost		Gains		Losses		Fair Value
U.S. federal agency securities	$	4,808	$	92	$	-	$	4,900
Municipal securities		519,333		1,429		(627)		520,135
Certificates of deposit		1,450,538		15,571		(13,819)		1,452,290
Corporate debt securities		17,298		381		-		17,679
	$	1,991,977	$	17,473	$	(14,446)	$	1,995,004

The following is a summary of the Company’s investments in available-for-sale securities as of December 31, 2014:

			Unrealized		Unrealized
	Cost		Gains		Losses		Fair Value
U.S. federal agency securities	$	49,739	$	68	$	(117)	$	49,690
Municipal securities		441,372		463		(966)		440,869
Certificates of deposit		1,395,990		22,904		(14,861)		1,404,033
Corporate debt securities		37,911		298		-		38,209
	$	1,925,012	$	23,733	$	(15,944)	$	1,932,801

The cost and fair value of investments in fixed income available-for-sale debt securities, by contractual maturity, as of September 30, 2015 (unaudited), are as follows:

			Fair
	Cost		Value
Due within one year	$	784,815	$	781,679
Due after one year through three years		929,334		935,184
Due after three years		277,828		278,141
	$	1,991,977	$	1,995,004

Expected maturities will differ from contractual maturities because the issuers of certain debt securities have the right to call or prepay their obligations without any penalties.  The Company has classified the entire fair value of its investments in available-for-sale debt securities as current assets in the accompanying balance sheets.