Annual report pursuant to Section 13 and 15(d)

FINANCIAL INSTRUMENTS AND INVESTMENTS (Tables)

v3.8.0.1
FINANCIAL INSTRUMENTS AND INVESTMENTS (Tables)
12 Months Ended
Dec. 31, 2017
Financial Instruments, Owned, at Fair Value [Abstract]  
Fair Value of Cash, Cash Equivalents, and Investments
The following tables show the adjusted cost, unrealized gains (losses) and fair value of the Company's cash and cash equivalents and investments held as of December 31, 2017 and 2016:
 
 
December 31, 2017
 
 
Adjusted
Cost
 
Pre-Tax
Unrealized Losses
 
Fair Value
 
Cash
and Cash
Equivalents
 
Short Term
 
Long Term
Level 1
 
 
 
 
 
 
 
 
 
 
 
 
Money Market Funds
 
$
888,942

 
$

 
$
888,942

 
$
888,942

 
$

 
$

Mutual Funds
 
1,626,236

 
(29,679
)
 
1,596,557

 

 

 
1,596,557

Subtotal
 
2,515,178

 
(29,679
)
 
2,485,499

 
888,942

 

 
1,596,557

 
 
 
 
 
 
 
 
 
 
 
 
 
Level 2
 
 
 
 
 
 
 
 
 
 
 
 
Certificates of Deposit
 
$
4,009,810

 
$

 
$
4,009,810

 
$

 
$
4,009,810

 
$

Corporate Bonds
 
2,228,855

 
(30,081
)
 
2,198,774

 

 
300,817

 
1,897,957

Municipal Bonds
 
5,084,573

 
(61,905
)
 
5,022,668

 

 

 
5,022,668

Subtotal
 
11,323,238

 
(91,986
)
 
11,231,252

 

 
4,310,627

 
6,920,625

 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
13,838,416

 
$
(121,665
)
 
$
13,716,751

 
$
888,942

 
$
4,310,627

 
$
8,517,182



 
 
December 31, 2016
 
 
Adjusted Cost
 
Pre-Tax
Unrealized Losses
 
Fair Value
 
Cash
and Cash
 Equivalents
 
Short Term
 
Long Term
Level 1
 
 
 
 
 
 
 
 
 
 
 
 
Money Market Funds
 
$
1,053,844

 
$

 
$
1,053,844

 
$
1,053,844

 
$

 
$

Mutual Funds
 
1,473,536

 
(90,495
)
 
1,383,041

 

 

 
1,383,041

Subtotal
 
2,527,380

 
(90,495
)
 
2,436,885

 
1,053,844

 

 
1,383,041

 
 
 
 
 
 
 
 
 
 
 
 
 
Level 2
 
 
 
 
 
 
 
 
 
 
 
 
Certificates of Deposit
 
$
3,886,415

 
$

 
$
3,886,415

 
$

 
$
2,993,825

 
$
892,590

Corporate Bonds
 
2,246,956

 
(29,419
)
 
2,217,537

 

 
400,053

 
1,817,484

Municipal Bonds
 
4,929,249

 
(59,294
)
 
4,869,955

 

 
2,565,483

 
2,304,472

Subtotal
 
11,062,620

 
(88,713
)
 
10,973,907

 

 
5,959,361

 
5,014,546

 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
13,590,000

 
$
(179,208
)
 
$
13,410,792

 
$
1,053,844

 
$
5,959,361

 
$
6,397,587

Unrealized Gain (Loss) on Investments
Pre-tax unrealized gains (losses) on investments incurred during the periods are presented below:
 
 
For the Year Ended December 31, 2017
 
For the Nine-Month Transition Period Ended December 31, 2016
Unrealized Holding Gains (Losses)
 
57,543
 
(179,208)

Maturities for Bonds
The maturities for bonds held by the Company as of December 31, 2017 are presented in the table below:
Maturity
Fair Value
Less Than One Year
302,189

1-2 years
1,685,858

2-5 years
4,983,823

5-10 years
250,944

Over 10 years

 
7,222,814