NOTE 11· Investments

At September 30, 2014, the Company’s amortized cost and fair values of fixed maturity securities related to our insurance company operations are summarized as follows:


(in thousands)	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
U.S. Treasury securities, obligations of U.S. Government agencies and Municipals	$	10,588	$	4	$	(4	)	$	10,588
Foreign government		50		—		—			50
Corporate debt		5,583		5		(11	)		5,576
Short duration fixed income fund		3,737		38		—			3,775

Total	$	19,958	$	47	$	(15	)	$	19,989

The following table shows the investments’ gross unrealized loss and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of September 30, 2014.


(in thousands)	Less than 12 Months				12 Months or More				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
U.S. Treasury securities, obligations of U.S. Government agencies and Municipals	$	3,168	$	4	$	—	$	—	$	3,168	$	4
Corporate debt		4,490		11		—		—		4,490		11

Total	$	7,658	$	15	$	—	$	—	$	7,658	$	15

The unrealized losses in the Company’s investments in U.S. Treasury Securities and obligations of U.S. Government Agencies and bonds from corporate issuers were caused by interest rate increases. At September 30, 2014, the Company had 38 securities in an unrealized loss position. The contractual cash flows of the U.S. Treasury Securities and obligations of the U.S. Government agencies investments are either guaranteed by the U.S. Government or an agency of the U.S. Government. Accordingly, it is expected that the securities would not be settled at a price less than the amortized cost of the Company’s investment. The corporate securities are highly rated securities with no indicators of potential impairment. Based on the ability and intent of the Company to hold these investments until recovery of fair value, which may be maturity, the bonds were not considered to be other-than-temporarily impaired at September 30, 2014.

The amortized cost and estimated fair value of the fixed maturity securities at September 30, 2014 by contractual maturity are set forth below:


(in thousands)	Amortized Cost		Fair Value
Years to maturity:
Due in one year or less	$	4,316	$	4,354
Due after one year through five years		15,296		15,286
Due after five years through ten years		346		349

Total	$	19,958	$	19,989

The expected maturities in the foregoing table may differ from the contractual maturities because certain borrowers have the right to call or prepay obligations with or without penalty.

Proceeds from sales of the Company’s investment in fixed maturity securities were $0.2 million including maturities from the period May 1, 2014 to September 30, 2014. There were no gains and losses realized on those sales for the period from May 1, 2014 to September 30, 2014.

Realized gains and losses are reported on the consolidated statements of operations and comprehensive loss, with the cost of securities sold determined on a specific identification basis.