NOTE 2. INVESTMENTS

The Company invests its excess cash balances in short-term and long-term debt securities. Investments at June 30, 2014 consisted of corporate bonds with maturities remaining of less than three years at the time of purchase. The Company may also invest excess cash balances in certificates of deposit, money market accounts, US Treasuries, US government agency obligations, corporate debt securities, and/or commercial paper. The Company accounts for its investments in accordance with FASB ASC 320, Investments – Debt and Equity Securities. At June 30, 2014, all investments were classified as held-to-maturity securities.

The following tables summarize the Company’s short and long-term investments as of June 30, 2014, and September 30, 2013.

	As of June 30, 2014
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Commercial notes (due within one year)	$	23,834,408	$	1,850	$	(237,181	)	$	23,599,077
Commercial notes (due after one year within three years)		26,284,862		3,899		(152,222	)		26,136,599
Total	$	50,119,270	$	5,749	$	(389,403	)	$	49,735,616

	As of September 30, 2013
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Commercial notes (due within one year)	$	9,030,261	$	7,500	$	(39,281	)	$	8,998,480
Commercial notes (due after one year within three years)		1,702,153		—		(2,362	)		1,699,791
Total	$	10,732,414	$	7,500	$	(41,643	)	$	10,698,271