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INVESTMENTS IN DEBT SECURITIES AVAILABLE FOR SALE (Tables)

12 Months Ended

Dec. 31, 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

		December 31, 2021								December 31, 2020
		Cost				Fair Value				Cost				Fair Value
Short-term investments
U.S. Treasury securities		$	14,786,982			$	14,778,705			$	-			$	-
Corporate debt securities			15,024,087				15,024,390				-				-
Total		$	29,811,069			$	29,803,095			$	-			$	-

		December 31, 2021								December 31, 2020
		Cost				Fair Value				Cost				Fair Value
Short-term investment maturities
Within 3 months		$	19,798,177			$	19,799,835			$	-			$	-
Between 3-12 months			10,012,892				10,003,260				-				-
Total		$	29,811,069			$	29,803,095			$	-			$	-

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 December 31, 2021 and 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)

		December 31, 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 in debt securities with unrealized gains		$	8,999,580			$	3,499			$	-			$	-
Investments in debt securities with unrealized losses			20,803,515			$	(11,473	)			-				-
Total		$	29,803,095			$	(7,974	)		$	-			$	-

SUMMARY OF NET REALIZED LOSSES ON SALES OF AVAILABLE FOR SALE SECURITIES AND INVESTMENT INCOME INTEREST AND DIVIDENDS

Investment 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
Interest and dividends accrued and paid		$	18,145			$	66,553
Realized (losses) gains			(7,149	)			53,354
Investment income net		$	10,996			$	119,907

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

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-Publisher FASB
-Name Accounting Standards Codification
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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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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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