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Investment in Debt Securities-Available for Sale (Tables)

3 Months Ended

Mar. 31, 2022

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

		March 31, 2022								December 31, 2021
		Cost				Fair Value				Cost				Fair Value
Short-term investments
U.S. Treasury securities		$	10,005,175			$	9,946,424			$	14,786,982			$	14,778,705
Corporate debt securities			2,997,617				2,997,390				15,024,087				15,024,390
Total		$	13,002,792			$	12,943,814			$	29,811,069			$	29,803,095

		March 31, 2022								December 31, 2021
		Cost				Fair Value				Cost				Fair Value
Short-term investment maturities
Within 3 months		$	2,997,617			$	2,997,390			$	19,798,177			$	19,799,835
Between 3-12 months			10,005,175				9,946,424				10,012,892				10,003,260
Total		$	13,002,792			$	12,943,814			$	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 March 31, 2022 and December 31, 2021. 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)

		March 31, 2022								December 31, 2021
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			12,943,814				(58,978	)			20,803,515				(11,473	)
Total		$	12,943,814			$	(58,978	)		$	29,803,095			$	(7,974	)

Summary of Investment Income

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 Investment Income

		2022				2021
		Three Months Ended March 31,
		2022				2021
Interest and dividends accrued and paid		$	14,442			$	2,411
Realized losses			(2,338	)			–
Investment income net		$	12,104			$	2,411

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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