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CASH AND EQUIVALENTS AND MARKETABLE SECURITIES (Tables)
 9 Months Ended
Sep. 30, 2017
Cash and Equivalents and Marketable Securities Disclosure [Abstract]  
Cash Cash Equivalents and Marketable Securities Table
Investments in available-for-sale marketable debt securities are as follows at September 30, 2017 and December 31, 2016
 
Amortized Cost

Unrealized Gains

Unrealized Losses

Fair Value
 
2017

2016

2017

2016

2017

2016

2017

2016
U.S. government and agency backed securities
$
36,365,672


$
36,343,817


$
—


$
—


$
(180,768
)

$
(252,556
)

$
36,184,904


$
36,091,261

Corporate debt and certificates of deposit
15,311,458


25,323,428


—


—


(41,452
)

(39,288
)

15,270,006


25,284,140

Total
$
51,677,130

 
$
61,667,245

 
$
—

 
$
—

 
$
(222,220
)
 
$
(291,844
)
 
$
51,454,910

 
$
61,375,401
Marketable Debt Securities
The contractual maturity of the Company’s marketable debt securities is as follows at September 30, 2017:
 
Less than
One year
 
One to
Five years
 
Greater than
Five years
 
Total
U.S. government and agency backed securities
$
21,245,723

 
$
12,993,121

 
$
1,946,060

 
$
36,184,904

Corporate debt and certificates of deposit
9,585,467

 
5,684,539

 
—

 
15,270,006

Total
$
30,831,190

 
$
18,677,660

 
$
1,946,060

 
$
51,454,910