(3) Marketable Securities

12 Months Ended

Dec. 31, 2012

Notes to Financial Statements

(3) Marketable Securities

(3) 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 December 31, 2012, were as follows:

	Aggregate	Cost or Amortized	Net Unrealized
	Fair Value	Cost	Gains / (Loss)
Government securities	8,328,392	8,324,372	4,020
Corporate debt securities	2,202,550	2,200,360	2,190
	$           10,530,942	$           10,524,732	$                    6,210

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

The cost basis and fair value of available-for-sale securities by contractual maturity as of December 31, 2012, were as follows:

	Fair Value	Cost
Due within one year	$             8,723,955	$             8,719,995
Due after one year	1,806,987	1,804,737
	$           10,530,942	$           10,524,732