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Cash, Cash Equivalents, Short-Term Investments and Long-Term Investments
 9 Months Ended
Sep. 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

September 30, 2016

  

As of

December 31, 2015

  

Increase

(Decrease)

 
Cash and cash equivalents $4,408,415  $1,573,328  $2,835,087 
Short-term investments(1)  5,199,000   4,464,000   735,000 
Subtotal  9,607,415   6,037,328   3,570,087 
Long-term investments (1)  0   487,000   (487,000)
Total $9,607,415  $6,524,328  $3,083,087 

 

(1) We accrued $20,065 and $9,221 in interest income on these investments as of September 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 September 30, 2016, held to maturity securities consisted of the following:

 

    Gross Unrealized    
  Cost  Gains  Losses  

Estimated

Fair Value

 
Certificates of deposit $5,199,000  $5,642  $0  $5,204,642