|12 Months Ended|
Dec. 31, 2015
|Marketable Securities [Abstract]|
3. Marketable Securities
The following table shows the Company’s marketable securities’ adjusted cost, gross unrealized gains and losses, and fair value by significant investment category as of December 31, 2015 and 2014:
The Company typically invests in highly-rated securities, with the primary objective of minimizing the potential risk of principal loss. As of December 31, 2015, the Company had 15 certificates of deposit with a fair value of $3,594,425 and unrealized losses of $5,575, three commercial papers with a fair value of $2,977,570 and unrealized losses of $3,737, and three corporate bonds with a fair value of $3,025,320 and unrealized losses of $7,625, all of which have been unrealized losses for less than 12 months. The Company has one corporate bond with a fair value of $1,002,200 and unrealized losses of $1,675 which has been an unrealized loss for greater than 12 months. The Company does not intend to sell its marketable securities in an unrealized loss position. Based upon the Company’s securities’ fair value relative to the cost, high ratings, and volatility of fair value, the Company considers the declines in market value of its marketable securities to be temporary in nature and does not consider any of its investments other-than-temporarily impaired, and anticipates that it will recover the entire amortized cost basis.
As of December 31, 2015, all of the Company’s marketable securities are expected to mature in less than one year.
The entire disclosure for investments in certain debt and equity securities.
Reference 1: http://www.xbrl.org/2003/role/presentationRef