Quarterly report pursuant to Section 13 or 15(d)

Note 3 - Cash, Cash Equivalents and Investments

Note 3 - Cash, Cash Equivalents and Investments
9 Months Ended
Jun. 30, 2020
Notes to Financial Statements  
Cash and Cash Equivalents Disclosure [Text Block]

Note 3. Cash, Cash Equivalents and Investments


The Company invests its excess cash in bank certificates of deposit (“CDs”) that are fully insured by the Federal Deposit Insurance Corporation (“FDIC”) and United States Treasury (“Treasuries”) securities with terms of not more than five years, as well as money market accounts. CDs and Treasuries with original maturities of more than three months are reported as held-to-maturity investments and are recorded at amortized cost, which approximates fair value due to the negligible risk of changes in value due to interest rates. The maturity dates of the Company’s investments as of June 30, 2020 and September 30, 2019 are as follows:



June 30, 2020


September 30, 2019


Less than one year

  $ 11,093,527     $ 13,524,270  

1-5 years

    28,072,000       23,902,000  


  $ 39,165,527     $ 37,426,270