(5) Marketable Securities

9 Months Ended

Sep. 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 September 30, 2012, are as follows:

	Aggregate		Cost or Amortized		Net Unrealized
	Fair Value		Cost		Gains / (Loss)
Auction rate securities	$	489,999	$	500,000	$	(10,001	)
Government securities		11,331,862		11,321,514		10,348
Corporate debt securities		1,869,839		1,865,942		3,897
	$	13,691,700	$	13,687,456	$	4,244

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	)