Quarterly report pursuant to Section 13 or 15(d)

Marketable Securities

Marketable Securities

3 Months Ended

Mar. 31, 2018

Investments, Debt and Equity Securities [Abstract]

3. Marketable Securities

Marketable securities at March 31, 2018 consist of the following:


Marketable Securities	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
Current:
Corporate debt	$	36,471,558	$	2,350	$	(93,970	)	$	36,379,938

Marketable securities at December 31, 2017 consisted of the following:


Marketable Securities	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
Current:
Corporate debt	$	39,933,685	$	—	$	(74,820	)	$	39,858,864

At March 31, 2018, the Company held only investments that have maturities of less than one year.

At March 31, 2018 and December 31, 2017, the Company held 27 and 32 debt securities, respectively, that individually and in total were in an immaterial unrealized loss position for less than one year. The aggregate fair value of debt securities in an unrealized loss position at March 31, 2018 and December 31, 2017 was $32,604,030 and $39,858,864, respectively. The Company evaluated its securities for other-than-temporary impairment and considered the decline in market value for the securities to be primarily attributable to current economic and market conditions. It is not more likely than not that the Company will be required to sell the securities prior to the recovery of the amortized cost basis. Based on this analysis, these marketable securities were not considered to be other-than-temporarily impaired as of March 31, 2018 and December 31, 2017.