Quarterly report pursuant to Section 13 or 15(d)

CASH AND CASH EQUIVALENTS

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CASH AND CASH EQUIVALENTS
6 Months Ended
Jun. 30, 2017
Notes to Financial Statements  
NOTE F - CASH AND CASH EQUIVALENTS

The Company places cash investments in high quality financial institutions insured by the Federal Deposit Insurance Corporation ("FDIC").  At June 30, 2017, the Company maintained a cash balance of $51,096,000 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 June 30, 2017 and December 31, 2016 are composed of: 

 

    June 30, 2017     December 31, 2016  
             
Cash   $ 9,318,000     $ 9,452,000  
Money market fund     42,577,000       41,466,000  
Total   $ 51,895,000     $ 50,918,000