Cash, Cash Equivalents, Short-Term Investments and Long-Term Investments

12 Months Ended

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