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Cash, Cash Equivalents, Short-Term Investments and Long-Term Investments | 12 Months Ended
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Dec. 31, 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 amortized cost plus accrued interest) consisted of the following:
|  | As of December 31, |  |  | Increase |
|  | 2016 |  |  | 2015 |  |  | (Decrease) |
Cash and cash equivalents |  | $ | 5,150,344 |  |  | $ | 1,573,328 |  |  | $ | 3,577,016 |
Short-term investments |  |  | 5,474,013 |  |  |  | 4,470,574 |  |  |  | 1,003,439 |
Subtotal |  |  | 10,624,357 |  |  |  | 6,043,902 |  |  |  | 4,580,455 |
Long-term investments |  |  | - |  |  |  | 489,648 |  |  |  | (489,648 | )
Total |  | $ | 10,624,357 |  |  | $ | 6,533,550 |  |  | $ | 4,090,807 |
Held to maturity securities (certificates of deposit) 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 December 31, 2016 and 2015, the fair value of held to maturity securities consisted of the following:
|  | As of December 31, |
|  | 2016 |  |  | 2015 |
Amortized cost |  | $ | 5,450,000 |  |  | $ | 4,951,000 |
Accrued interest |  |  | 24,013 |  |  |  | 9,222 |
Gross unrealized gains |  |  | 2,073 |  |  |  | 25 |
Gross unrealized losses |  |  | (59 | ) |  |  | (6,277 | )
Estimated fair value |  | $ | 5,476,027 |  |  | $ | 4,953,970

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- Definition The entire disclosure of the components of cash, cash equivalents, and short-term investments. Short-term investments may include current marketable securities. + References No definition available. + Details
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