Quarterly report pursuant to Section 13 or 15(d)

CASH AND CASH EQUIVALENTS

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CASH AND CASH EQUIVALENTS
9 Months Ended
Sep. 30, 2016
Notes to Financial Statements  
NOTE G - CASH AND CASH EQUIVALENTS

The Company places cash investments in high quality financial institutions insured by the Federal Deposit Insurance Corporation ("FDIC").  At September 30, 2016, the Company maintained a cash balance of $57,109,000 in excess of FDIC limits.

 

The Company considers all highly liquid short-term investments purchased with an original maturity of three months or less to be cash equivalents.

 

Cash and cash equivalents as of September 30, 2016 and December 31, 2015 are composed of: 

 

    September 30, 2016     December 31, 2015  
             
Cash   $ 17,583,000     $ 6,283,000  
Money market fund     40,176,000       14,325,000  
Total   $ 57,759,000     $ 20,608,000