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Investment in Debt Securities-Available for Sale (Tables)

9 Months Ended

Sep. 30, 2021

Investments, Debt and Equity Securities [Abstract]

Schedule of Cost, Fair Value and Maturities of Short Term Investments

A summary of the cost, fair value and maturities of the Company’s short-term investments is as follows:

 Schedule of Cost, Fair Value and Maturities of Short Term Investments

		September 30, 2021								December 31, 2020
		Cost				Fair Value				Cost				Fair Value
Short-term investments
Commercial paper		$	7,784,165			$	7,784,894			$	-				-
Government backed debt securities			21,078,059				21,079,470				-				-
Total		$	28,862,224			$	28,864,364			$	-			$	-

		September 30, 2021								December 31, 2020
		Cost				Fair Value				Cost				Fair Value
Short-term investment maturities
Within 3 months		$	11,998,304			$	11,999,400			$	-			$	-
Between 3-12 months			16,863,920				16,864,964				-				-
Total		$	28,862,224			$	28,864,364			$	-			$	-

Summary of Investment Securities Gross Unrealized Gains (Losses)

The following table shows the Company’s investment in debt securities available for sale gross unrealized gains (losses) and fair value by investment category and length of time that individual securities have been in a continuous unrealized loss position at September 30, 2021 and December 31, 2020. The Company has reviewed individual securities to determine whether a decline in fair value below the amortizable cost basis is other than temporary.

 Summary of Investment Securities Gross Unrealized Gains (Losses)

		September 30, 2021								December 31, 2020
Available for sale securities (all unrealized holding gains and losses are less than 12 months at date of measurement)		Fair Value				Unrealized Holding Gains (Losses)				Fair Value				Unrealized Holding Gains (Losses)
Investments with unrealized gains		$	21,029,520			$	3,055			$	-			$	-
Investments with unrealized losses			7,834,844				(916	)			-				-
Total		$	28,864,364			$	2,139			$	-			$	-

Summary of Net Realized Losses on Sales of Available for Sale Securities and Investment Income Interest and Dividends

Investment (loss) income, which includes net realized losses on sales of available for sale securities and investment income interest and dividends, is summarized as follows:

 Summary of Net Realized Losses on Sales of Available for Sale Securities and Investment Income Interest and Dividends

		2021				2020
		Three Months Ended September 30,
		2021				2020
Interest and dividends accrued and paid		$	6,288			$	2,857
Realized (losses) gains			(2,736	)			7,257
Investment income, net		$	3,552			$	10,114

		2021				2020
		Nine Months Ended September 30,
		2021				2020
Interest and dividends accrued and paid		$	10,135			$	66,029
Realized (losses) gains			(4,521	)			53,354
Investment income, net		$	5,614			$	119,383

X

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-URI http://asc.fasb.org/topic&trid=2196928

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Tabular disclosure of investment income, including, but not limited to, interest and dividend income and amortization of discount (premium) derived from debt and equity securities. Excludes realized and unrealized gain (loss) on investments.

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-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
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For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value).

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-Topic 320
-SubTopic 10
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