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Cash Equivalents And Investments | 9 Months Ended
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Sep. 30, 2013
Cash Equivalents And Investments [Abstract] |
Cash Equivalents And Investments | NOTE 2 – CASH EQUIVALENTS AND INVESTMENTS The following tables show the Company’s cash equivalents and available-for-sale securities’ adjusted cost, gross unrealized gains, gross unrealized losses and fair value by significant investment category recorded as cash and cash equivalents or short and long term investments as of September 30, 2013 and December 31, 2012:
September 30, 2013
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value |  | Cash Equivalents |  | Short-Term Investments |  | Long-Term Investments
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money Market funds | $ | 1,548,267 |  | $ | - |  | $ | - |  | $ | 1,548,267 |  | $ | 1,548,267 |  | $ |  |  | $ |
Subtotal |  | 1,548,267 |  |  | - |  |  | - |  |  | 1,548,267 |  |  | 1,548,267 |  |  | - |  |  | -
Investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Certificates of deposit |  | 2,101,926 |  |  | 785 |  |  | (2,213) |  |  | 2,100,498 |  |  | - |  |  | 1,861,509 |  |  | 238,989
Corporate Notes/Bonds |  | 8,966,889 |  |  | 25,977 |  |  | (2,935) |  |  | 8,989,931 |  |  | - |  |  | 6,252,178 |  |  | 2,737,753
Subtotal |  | 11,068,815 |  |  | 26,762 |  |  | (5,148) |  |  | 11,090,429 |  |  | - |  |  | 8,113,687 |  |  | 2,976,742
Total | $ | 12,617,082 |  | $ | 26,762 |  | $ | (5,148) |  | $ | 12,638,696 |  | $ | 1,548,267 |  | $ | 8,113,687 |  | $ | 2,976,742
December 31, 2012
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value |  | Cash Equivalents |  | Short-Term Investments |  | Long-Term Investments
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money Market funds | $ | 5,497,788 |  | $ | - |  | $ | - |  | $ | 5,497,788 |  | $ | 5,497,788 |  | $ |  |  | $ |
Subtotal |  | 5,497,788 |  |  | - |  |  | - |  |  | 5,497,788 |  |  | 5,497,788 |  |  | - |  |  | -
Investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Certificates of deposit |  | 8,157,749 |  |  | 3,727 |  |  | (1,945) |  |  | 8,159,531 |  |  | - |  |  | 7,258,768 |  |  | 900,763
Corporate Notes/Bonds |  | 8,241,327 |  |  | 35,364 |  |  | (914) |  |  | 8,275,777 |  |  | - |  |  | 3,800,143 |  |  | 4,475,634
Commercial Paper |  | 1,638,892 |  |  | 3,735 |  |  | - |  |  | 1,642,627 |  |  | - |  |  | 1,642,627 |  |  | -
Subtotal |  | 18,037,968 |  |  | 42,826 |  |  | (2,859) |  |  | 18,077,935 |  |  | - |  |  | 12,701,538 |  |  | 5,376,397
Total | $ | 23,535,756 |  | $ | 42,826 |  | $ | (2,859) |  | $ | 23,575,723 |  | $ | 5,497,788 |  | $ | 12,701,538 |  | $ | 5,376,397
The Company tests for other than temporary losses on a quarterly basis and has considered the unrealized losses indicated above to be temporary in nature. The Company intends to hold the investments until it can recover the full principal amount and has the ability to do so based on other sources of liquidity. The Company expects these recoveries to occur prior to the contractual maturities. All unrealized losses as of September 30, 2013 were in a continuous unrealized loss position for less than twelve months and are not deemed to be other than temporarily impaired as of September 30, 2013. The following table summarizes the estimated fair value of our investments, designated as available-for-sale and classified by the contractual maturity date of the securities as of September 30, 2013:
|  | Amortized Cost |  | Estimated Market Value
Due within one year |  | $ | 8,094,583 |  | $ | 8,113,687
Due after one year through five years |  |  | 2,974,232 |  |  | 2,976,742
|  | $ | 11,068,815 |  | $ | 11,090,429
The Company did not recognize any gross realized gains, and gross realized losses were immaterial, during the nine-month periods ending September 30, 2013 and 2012, respectively. If the Company had realized gains or losses, they would be included within investment and other income in the accompanying consolidated results of operations.

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