Quarterly report pursuant to Section 13 or 15(d)

MARKETABLE SECURITIES

MARKETABLE SECURITIES

9 Months Ended

Sep. 30, 2019

Marketable securities as of September 30, 2019 and December 31, 2018 were composed of:

	September 30, 2019
	Cost Basis		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Certificates of deposit	$	4,500,000	$	8,000	$	―		$	4,508,000
Fixed income mutual funds		15,810,000		9,000		―			15,819,000
Corporate bonds and notes		10,854,000		176,000		(74,000	)		10,956,000
Total marketable securities	$	31,164,000	$	193,000	$	(74,000	)	$	31,283,000

	December 31, 2018
	Cost Basis		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Certificates of deposit	$	13,151,000	$	―	$	―		$	13,151,000
Fixed income mutual funds		9,648,000		―		(8,000	)		9,640,000
Corporate bonds and notes		8,518,000		―		(81,000	)		8,437,000
Total marketable securities	$	31,317,000		―	$	(89,000	)	$	31,228,000

The Company's marketable securities are measured at fair value and are accounted for in accordance with ASU 2016-01. Unrealized holding gains and losses on certificates of deposit and bond mutual funds are recorded in net realized and unrealized loss from investments on the condensed consolidated statements of operations and comprehensive income (loss). Unrealized holding gains and losses, net of the related tax effect, on corporate bonds and notes are excluded from earnings and are reported as a separate component of stockholders' equity until realized. Dividend and interest income are recognized when earned. Realized gains and losses are included in earnings and are derived using the specific identification method for determining the cost of the marketable securities.