Short-Term Investments

3 Months Ended

Mar. 31, 2022

Investments Debt And Equity Securities [Abstract]

NOTE 3 - SHORT-TERM INVESTMENTS

The Company’s short-term investments by significant investment category as of March 31, 2022, are as follows:

Description	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Accrued Interest		Estimated Fair Value
Level 1: (1)
Cash alternatives	$	2,562,408	$	-	$	-	$	-	$	2,562,408
Certificates of deposit		579,176		-		4,679		795		575,292
Corporate bonds and notes		3,172,170		-		7,450		23,685		3,188,405
Municipal Securities		7,172,218		-		4,927		47,014		7,214,305
	$	13,485,972	$	-	$	17,056	$	71,494	$	13,540,410

The Company’s short-term investments by significant investment category as of December 31, 2021, are as follows:

Description	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Accrued Interest		Estimated Fair Value
Level 1: (1)
Cash alternatives	$	2,172,853	$	-	$	-	$	-	$	2,172,853
Certificates of deposit		591,968		-		3,294		1,222		589,896
Corporate bonds and notes		4,293,722		-		5,432		46,820		4,335,110
Municipal Securities		7,411,043		-		2,334		29,182		7,437,891
	$	14,469,586	$	-	$	11,060	$	77,224	$	14,535,750

(1)

Level 1 fair value estimates are based on quoted prices in active markets for identical assets or liabilities.

Cash alternatives represents cash balances in savings accounts that are temporarily on-hand that are immediately available for investments in accordance with the Company’s investment policy.

The Company typically invests in highly rated securities and its investment policy limits the amount of credit exposure to any one issuer. The policy requires investments in fixed income instruments denominated and payable in U.S. dollars only and requires investments to be investment grade, with a primary objective of minimizing the potential risk of principal loss.