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INVESTMENT SECURITIES | 12 Months Ended
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Dec. 31, 2017
Investments, Debt and Equity Securities [Abstract] |
INVESTMENT SECURITIES | Our investments as of December 31, 2017 and 2016 are classified as held-to-maturity. Held-to-maturity investments are recorded at amortized cost. During the year ended December 31, 2016, we liquidated our long-term investment securities with a net carrying amount of approximately $12.6 million, realizing a gain of approximately $33,000 on the sale. The decision to sell our long-term securities was made due to market rate conditions on long-term securities coupled with the recognized gain we were able to yield on the sale of the securities. The following tables summarize our investment securities at December 31, 2017 and 2016:
|  | December 31, 2017 |
|  | Amortized cost, as adjusted |  |  | Gross unrealized holding gains |  |  | Gross unrealized holding losses |  |  | Estimated fair value |
Short-term investments: |  |  |  |  |  |  |  |  |  |  |  |
Obligations of domestic governmental agencies (maturing between January 2018 and November 2018) (held-to-maturity) |  | $ | 27,998,810 |  |  | $ | -- |  |  | $ | 35,235 |  |  | $ | 27,963,575 |
Total short-term investment securities |  | $ | 27,998,810 |  |  | $ | -- |  |  | $ | 35,235 |  |  | $ | 27,963,575 |
|  | December 31, 2016 |
|  | Amortized cost, as adjusted |  |  | Gross unrealized holding gains |  |  | Gross unrealized holding losses |  |  | Estimated fair value |
Short-term investments: |  |  |  |  |  |  |  |  |  |  |  |
Obligations of domestic governmental agencies (maturing between February 2017 and September 2017) (held-to-maturity) |  | $ | 19,853,860 |  |  | $ | 3,270 |  |  | $ | 2,492 |  |  | $ | 19,854,638 |
Total short-term investment securities |  | $ | 19,853,860 |  |  | $ | 3,270 |  |  | $ | 2,492 |  |  | $ | 19,854,638 |

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=4738149 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2176304 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2324412 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2209399 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 954 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2289146 + Details
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