Annual report pursuant to Section 13 and 15(d)

Cash Equivalents And Investments

v3.3.1.900
Cash Equivalents And Investments
 12 Months Ended
Dec. 31, 2015
Cash Equivalents And Investments [Abstract]  
Cash Equivalents And Investments

NOTE 2 –CASH EQUIVALENTS AND INVESTMENTS

 

The following tables show the Company’s cash equivalents and available-for-sale securities’ amortized cost, gross unrealized gains, gross unrealized losses and fair value by significant investment category recorded as cash equivalents or short and long term investments as of December 31, 2015 and December 31, 2014:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2015

 

Amortized Cost

 

Gross Unrealized Gains

 

Gross Unrealized Losses

 

Fair Value

 

Cash Equivalents

 

Short-Term Investments

 

Long-Term Investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money Market funds

$

 1,944,000 

 

$

 -

 

$

 -

 

$

 1,944,000 

 

$

 1,944,000 

 

$

 

 

$

 

Subtotal

 

 1,944,000 

 

 

 -

 

 

 -

 

 

 1,944,000 

 

 

 1,944,000 

 

 

 -

 

 

 -

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Certificates of deposit

 

 5,493,000 

 

 

 3,000 

 

 

 (8,000)

 

 

 5,488,000 

 

 

 -

 

 

 1,202,000 

 

 

 4,286,000 

Corporate Notes/Bonds

 

 6,056,000 

 

 

 -

 

 

 (22,000)

 

 

 6,034,000 

 

 

 -

 

 

 4,027,000 

 

 

 2,007,000 

Subtotal

 

 11,549,000 

 

 

 3,000 

 

 

 (30,000)

 

 

 11,522,000 

 

 

 -

 

 

 5,229,000 

 

 

 6,293,000 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

$

 13,493,000 

 

$

 3,000 

 

$

 (30,000)

 

$

 13,466,000 

 

$

 1,944,000 

 

$

 5,229,000 

 

$

 6,293,000 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2014

 

Amortized Cost

 

Gross Unrealized Gains

 

Gross Unrealized Losses

 

Fair Value

 

Cash Equivalents

 

Short-Term Investments

 

Long-Term Investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money Market funds

$

 1,073,000 

 

$

 -

 

$

 -

 

$

 1,073,000 

 

$

 1,073,000 

 

$

 

 

$

 

Subtotal

 

 1,073,000 

 

 

 -

 

 

 -

 

 

 1,073,000 

 

 

 1,073,000 

 

 

 -

 

 

 -

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Certificates of deposit

 

 7,414,000 

 

 

 1,000 

 

 

 (32,000)

 

 

 7,383,000 

 

 

 -

 

 

 1,920,000 

 

 

 5,463,000 

Corporate Notes/Bonds

 

 8,777,000 

 

 

 6,000 

 

 

 (23,000)

 

 

 8,760,000 

 

 

 -

 

 

 2,683,000 

 

 

 6,077,000 

Subtotal

 

 16,191,000 

 

 

 7,000 

 

 

 (55,000)

 

 

 16,143,000 

 

 

 -

 

 

 4,603,000 

 

 

 11,540,000 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

$

 17,264,000 

 

$

 7,000 

 

$

 (55,000)

 

$

 17,216,000 

 

$

 1,073,000 

 

$

 4,603,000 

 

$

 11,540,000 

 

 

The Company tests for other than temporary losses on a quarterly basis and has considered the unrealized losses indicated above to be temporary in nature. The Company intends to hold the investments until it can recover the full principal amount and has the ability to do so based on other sources of liquidity. The Company expects such recoveries to occur prior to the contractual maturities.  All unrealized losses as of December 31, 2015 were in a continuous unrealized loss position for less than twelve months and are not deemed to be other than temporarily impaired as of December 31, 2015.

The following table summarizes the estimated fair value of our investments, designated as available-for-sale and classified by the contractual maturity date of the securities as of December 31, 2015:  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortized Cost

 

Estimated Market Value

 

 

 

 

 

Due within one year

 

$  

 5,237,000 

 

$

 5,229,000 

Due after one year through five years

 

 

 6,312,000 

 

 

 6,293,000 

 

 

$ 

11,549,000 

 

$

 11,522,000 

 

The Company did not recognize any gross realized gains or gross realized losses during the years ending December 31, 2015 and 2014, respectively. If the Company had realized gains or losses, they would be included within investment and other income in the accompanying consolidated statements of income.