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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables) | 12 Months Ended
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Dec. 31, 2019
FAIR VALUE OF FINANCIAL INSTRUMENTS |
Summary of value of assets designated as investments in debt and equity securities |
|  | December 31, 2019
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Mutual funds and exchange traded funds |  | $ | 6,708,746 |  | $ | — |  | $ | — |  | $ | 6,708,746
Certificates of deposit |  |  | — |  |  | 1,062,914 |  |  | — |  |  | 1,062,914
|  | $ | 6,708,746 |  | $ | 1,062,914 |  | $ | — |  | $ | 7,771,660
|  | December 31, 2018
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
US Treasury Notes |  | $ | — |  | $ | 1,411,156 |  | $ | — |  | $ | 1,411,156
Certificates of deposit |  |  | — |  |  | 1,575,000 |  |  | — |  |  | 1,575,000
|  | $ | — |  | $ | 2,986,156 |  | $ | — |  | $ | 2,986,156
Schedule of unrealized gains (losses) on investments in equity securities |
|  | December 31, 2019
|  |  |  |  | Gross Unrealized |  | Aggregate
|  | Cost |  | Gains |  | Losses |  | Fair Value
Mutual funds and exchange traded funds |  | $ | 6,592,345 |  | $ | 116,401 |  | $ | — |  | $ | 6,708,746
Certificates of deposit |  |  | 1,050,000 |  |  | 12,914 |  |  | — |  |  | 1,062,914
|  | $ | 7,642,345 |  | $ | 129,315 |  |  | — |  | $ | 7,771,660
|  | December 31, 2018
|  |  |  |  | Gross Unrealized |  | Aggregate
|  | Cost |  | Gains |  | Losses |  | Fair Value
US Treasury Notes |  | $ | 1,411,156 |  | $ | — |  | $ | — |  | $ | 1,411,156
Certificates of deposit |  |  | 1,575,000 |  |  | — |  |  | — |  |  | 1,575,000
|  | $ | 2,986,156 |  | $ | — |  |  | — |  | $ | 2,986,156

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