Quarterly report pursuant to Section 13 or 15(d)

CASH AND CASH EQUIVALENTS, AND OTHER INVESTMENTS

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CASH AND CASH EQUIVALENTS, AND OTHER INVESTMENTS
 3 Months Ended
Mar. 31, 2018
Notes to Financial Statements  
NOTE F - CASH AND CASH EQUIVALENTS, AND OTHER INVESTMENTS

The Company places cash investments in high quality financial institutions insured by the Federal Deposit Insurance Corporation ("FDIC").  At March 31, 2018, the Company maintained a cash balance of $47,774,000 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, and other investments as of March 31, 2018 and December 31, 2017 were composed of: 

 

    March 31, 2018     December 31, 2017  
             
Cash and cash equivalents:            
Cash   $ 14,106,000     $ 7,514,000  
Money market funds     41,322,000       43,337,000  
Certificates of deposit (3 months or less maturity)     1,250,000       250,000  
Total Cash and cash equivalents:   $ 56,678,000     $ 51,101,000  
Other Investments                
Certificates of deposit (greater than 3 months up 12 months maturity)     7,748,000       2,000,000  
Short term bond funds     4,008,000       ―  
Corporate bonds     1,034,000       1,054,000  
Total other investments     12,790,000       3,054,000  
Total cash and cash equivalents and other investments   $ 69,468,000     $ 54,055,000  

 

Other investments are classified as available-for-sale and are recorded at fair market value.  Unrealized gains and losses are reported as other comprehensive income or loss.  Realized gains and losses are reclassified from other comprehensive income or loss to net income or loss in the period they are realized.