XML 20 R8.htm IDEA: XBRL DOCUMENT
v3.21.2

Note 2 - Cash, Cash Equivalents, and Investments | 9 Months Ended
--- | ---
Sep. 30, 2021
Notes to Financial Statements |
Cash, Cash Equivalents, and Marketable Securities [Text Block] | Note 2: Cash, Cash Equivalents, and Investments The Company’s investments in debt securities are classified as held-to-maturity and are recorded at amortized cost, and its investments in money market funds are classified as cash equivalents. The following table shows the Company’s cash, available-for-sale securities, and investment securities by major security type as of September 30, 2021, and December 31, 2020:
|  | September 30, 2021 (Unaudited) |
|  |  |  |  |  |  |  |  | Gross |  |  | Gross |  |  |  |  |
|  | Level |  |  |  |  |  |  | Unrealized |  |  | Unrealized |  |  |  |  |
|  | (1) |  |  | Fair Value |  |  | Holding Gains |  |  | Holding Losses |  |  | Adjusted Cost |
Cash and Cash Equivalents |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash |  |  |  |  | $ | 1,486,993 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,486,993 |
Money Market Funds |  | 1 |  |  |  | 12,173,618 |  |  |  | — |  |  |  | — |  |  |  | 12,173,618 |
Subtotal |  |  |  |  |  | 13,660,611 |  |  |  | — |  |  |  | — |  |  |  | 13,660,611 |
Short-Term Investment Securities (2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate Bonds (3) |  | 2 |  |  |  | 9,079,410 |  |  |  | — |  |  |  | (7,789 | ) |  |  | 9,087,199 |
Total |  |  |  |  | $ | 22,740,021 |  |  | $ | — |  |  | $ | (7,789 | ) |  | $ | 22,747,810 |
|  | December 31, 2020 (Audited) |
|  |  |  |  |  |  |  |  | Gross |  |  | Gross |  |  |  |  |
|  | Level |  |  |  |  |  |  | Unrealized |  |  | Unrealized |  |  |  |  |
|  | (1) |  |  | Fair Value |  |  | Holding Gains |  |  | Holding Losses |  |  | Adjusted Cost |
Cash and Cash Equivalents |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash |  |  |  |  | $ | 149,015 |  |  | $ | — |  |  | $ | — |  |  | $ | 149,015 |
Money Market Funds |  | 1 |  |  |  | 20,488,030 |  |  |  | — |  |  |  | — |  |  |  | 20,488,030 |
Subtotal |  |  |  |  |  | 20,637,045 |  |  |  | — |  |  |  | — |  |  |  | 20,637,045 |
Short-Term Investment Securities (2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate Bonds (3) |  | 2 |  |  |  | 8,473,461 |  |  |  | 22,473 |  |  |  | (6,463 | ) |  |  | 8,457,451 |
Total |  |  |  |  | $ | 29,110,506 |  |  | $ | 22,473 |  |  | $ | (6,463 | ) |  | $ | 29,094,496 |
_________________ Notes: (1) Definition of the three-level fair value hierarchy:
| • | Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities
| • | Level 2 - Other inputs that are directly or indirectly observable in the markets
| • | Level 3 - Inputs that are generally unobservable
(2) Short-term investment securities will mature within 12 months or less, from the applicable reporting date. (3) For the three months ended September 30, 2021 and 2020, there was no premiums paid to purchase held-to-maturity investment securities. The premiums paid to purchase held-to-maturity investment securities was $283,940 and $221,156 for the nine months ended September 30, 2021, and 2020, respectively. The premiums paid to purchase held-to-maturity investment securities was $282,946 for the year ended December 31, 2020. The Company considers the declines in market value of its investment portfolio to be temporary in nature. The Company’s investment policy requires investment securities to be investment grade and held to maturity with the primary objective to maintain a high degree of liquidity while maximizing yield. When evaluating an investment for other-than-temporary impairment, the Company reviews factors such as the length of time and extent to which fair value has been below its cost basis, the financial condition of the issuer and any changes thereto, changes in market interest rates, and whether it is more likely than not the Company will be required to sell the investment before recovery of the investment’s cost basis. As of September 30, 2021, the Company does not consider any of its investments to be other-than-temporarily impaired.

X
- Definition The entire disclosure of cash, cash equivalents, and debt and equity securities, including any unrealized or realized gain (loss). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 + Details
Name: | us-gaap_CashCashEquivalentsAndMarketableSecuritiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration