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Investments in Available-for-Sale Securities

9 Months Ended

Sep. 30, 2012

Available-For-Sale Securities [Abstract]

Available For Sale Securities Disclosure [Text Block]

4. Investments in Available-for-Sale Securities

The following is a summary of the Company’s investments in available-for-sale fixed-income securities as of September 30, 2012:

	Cost		Unrealized Gains		Unrealized Losses			Fair Value
U.S. federal agency securities	$	19,604	$	295	$	-		$	19,899
Municipal securities		59,619		-		(60	)		59,559
Certificates of deposit		1,200,163		8,346		(13,657	)		1,194,851
Corporate debt securities		751,540		3,624		(34,227	)		720,938
Equity securities – ClearSign common stock		7,905		17,390		-			25,295
	$	2,038,831	$	29,655	$	(47,944	)	$	2,020,542

The following is a summary of the Company’s investments in available-for-sale securities as of December 31, 2011:

	Cost		Unrealized Gains		Unrealized Losses			Fair Value
U.S. federal agency securities	$	15,153	$	411	$	-		$	15,564
Certificates of deposit		1,725,402		11,154		(13,970	)		1,722,586
Corporate debt securities		776,244		1,222		(23,843	)		753,623
	$	2,516,799	$	12,787	$	(37,813	)	$	2,491,773

The Company’s investment portfolio had a net realized loss of $1,231 and $1,778 for the nine months ended September 30, 2012 and 2011, respectively. The Company’s investment portfolio had a net realized loss of $89 and $925 for the three months ended September 30, 2012 and 2011, respectively.

The cost and fair value of investments in available-for-sale securities, by contractual maturity, as of September 30, 2012, were as follows:

	Cost		Fair Value
Due within one year	$	1,551,670	$	1,505,567
Due after one year through three years		197,466		200,961
Due after three years		281,790		288,719
No maturity		7,905		25,295
	$	2,038,831	$	2,020,542

Expected maturities will differ from contractual maturities because the issuers of certain debt securities have the right to call or prepay their obligations without any penalties. Accordingly, the Company has classified the entire fair value of its investments in available-for-sale securities as current assets in the accompanying balance sheets.