(5) Marketable Securities

6 Months Ended

Jun. 30, 2012

Notes to Financial Statements

(5) Marketable Securities

The Company’s marketable securities consist of available-for-sale securities, which are carried at fair value, with unrealized gains and losses reported as a separate component of stockholders’ equity. Unrealized gains and losses are computed on the specific identification method. Realized gains, realized losses and declines in value judged to be other-than-temporary, are included in interest and other income, net. The cost of available-for-sale securities sold is based on the specific identification method and interest earned is included in interest and other income.

The cost and fair values of the Company’s available-for-sale marketable securities as of June 30, 2012, are as follows:

	Aggregate		Cost or Amortized		Net Unrealized
	Fair Value		Cost		Gains / (loss)
Auction rate securities	$	464,999	$	500,000	$	(35,001	)
Government securities		13,603,098		13,593,019		10,079
Corporate debt securities		3,019,589		3,020,100		(511)
	$	17,087,686	$	17,113,119	$	(25,433	)

The cost and fair values of the Company’s available-for-sale marketable securities as of December 31, 2011, are as follows:

	Aggregate		Cost or Amortized		Net Unrealized
	Fair Value		Cost		Gains / (loss)
Auction rate securities	$	611,082	$	700,000	$	(88,918	)
Government securities		17,303,207		17,286,598		16,609
Corporate debt securities		3,591,121		3,602,602		(11,481	)
	$	21,505,410	$	21,589,200	$	(83,790	)