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Investment in Available-for-Sale Securities

3 Months Ended

Mar. 31, 2013

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 investment in available-for-sale securities as of March 31, 2013:

	Cost		Unrealized Gains		Unrealized Losses			Fair Value
U.S. federal agency securities	$	4,588	$	158	$	-		$	4,746
Municipal securities		894,753		5,248		(758	)		899,243
Certificates of deposit		1,380,624		9,201		(22,420	)		1,367,405
Corporate debt securities		180,606		4,007		-			184,613
Equity securities – ClearSign common stock		7,905		17,641		-			25,546
	$	2,468,476	$	36,255	$	(23,178	)	$	2,481,553

The following is a summary of the Company’s investment in available-for-sale securities as of December 31, 2012:

	Cost		Unrealized Gains		Unrealized Losses			Fair Value
U.S. federal agency securities	$	19,592	$	196	$	-		$	19,788
Municipal securities		1,154,888		2,882		(2,137	)		1,155,633
Certificates of deposit		1,193,494		8,734		(16,904	)		1,185,324
Corporate debt securities		285,524		4,164		(9,633	)		280,055
Equity securities – ClearSign common stock		7,905		9,485		-			17,390
	$	2,661,403	$	25,461	$	(28,674	)	$	2,658,190

The Company’s investment portfolio had a net realized loss of $10,986 and $1,801 for the three months ended March 31, 2013 and 2012, respectively.

The cost and fair value of investments in available-for-sale securities, by contractual maturity, as of March 31, 2013, were as follows:

	Cost		Fair Value
Due within one year	$	714,278	$	697,034
Due after one year through three years		778,065		780,271
Due after three years		968,228		978,702
No maturity		7,905		25,546
	$	2,468,476	$	2,481,553

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.