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Cash, Cash Equivalents, Short-Term Investments and Long-Term Investments
 6 Months Ended
Jun. 30, 2016
Cash, Cash Equivalents, Short-Term Investments and Long-Term Investments [Abstract]  
CASH, CASH EQUIVALENTS, SHORT-TERM INVESTMENTS AND LONG-TERM INVESTMENTS
3. CASH, CASH EQUIVALENTS, SHORT-TERM INVESTMENTS AND LONG-TERM INVESTMENTS

 

Cash, cash equivalents, short-term investments and long-term investments (at cost) consisted of the following:

 

   

As of
June 30,
2016

    

As of
December 31, 2015

     Increase  
Cash and cash equivalents   $ 3,650,699     $ 1,573,328     $ 2,077,371  
Short-term investments(1)     6,696,000       4,464,000       2,232,000  
Subtotal     10,346,699       6,037,328       4,309,371  
Long-term investments(1)     487,000       487,000       0  
Total   $ 10,833,699     $ 6,524,328     $ 4,309,371  

 

(1) We accrued $18,481 and $9,221 in interest income on these investments as of June 30, 2016 and December 31, 2015, respectively, which was recorded in other receivables.

 

Held to maturity securities are carried at amortized cost. The cost of securities sold is determined based on the specific identification method. Realized gains and losses, and declines in value judged to be other than temporary, are included in investment income. As of June 30, 2016, held to maturity securities consisted of the following:

 

          Gross Unrealized     Estimated  
    Cost     Gains     Losses    

Fair Value

  
Certificates of deposit   $ 7,183,000     $ 5,661     $ 0     $ 7,188,661