Quarterly report pursuant to Section 13 or 15(d)

Cash, Cash Equivalents and Short-Term Investments (Tables)

v3.10.0.1
Cash, Cash Equivalents and Short-Term Investments (Tables)
9 Months Ended
Sep. 30, 2018
Cash And Cash Equivalents [Abstract]  
Schedule of Cash and Cash Equivalents and Short-Term Investments by Significant Investment Category

The following tables show the Company’s cash and cash equivalents and short-term investments by significant investment category as of September 30, 2018 and December 31, 2017:

 

 

September 30, 2018

 

 

 

Amortized Cost

 

 

Gross Unrealized Gain (Loss)

 

 

Estimated Fair Value

 

 

Cash and Cash Equivalents

 

 

Short-Term Investments

 

Cash

 

$

2,215,116

 

 

$

 

 

$

2,215,116

 

 

$

2,215,116

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Level 1 (1):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

 

7,848,998

 

 

 

 

 

 

7,848,998

 

 

 

7,848,998

 

 

 

 

U.S. treasury securities

 

 

989,051

 

 

 

89

 

 

 

989,140

 

 

 

 

 

 

989,140

 

Subtotal

 

 

8,838,049

 

 

 

89

 

 

 

8,838,138

 

 

 

7,848,998

 

 

 

989,140

 

Level 2 (2):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial paper

 

 

8,531,479

 

 

 

 

 

 

8,531,479

 

 

 

 

 

 

8,531,479

 

Corporate debt obligations

 

 

5,936,106

 

 

 

(2,008

)

 

 

5,934,098

 

 

 

 

 

 

5,934,098

 

Repurchase agreements

 

 

3,000,542

 

 

 

 

 

 

3,000,542

 

 

 

3,000,542

 

 

 

 

Asset-backed securities

 

 

3,312,145

 

 

 

(1,626

)

 

 

3,310,519

 

 

 

 

 

 

3,310,519

 

Subtotal

 

 

20,780,272

 

 

 

(3,634

)

 

 

20,776,638

 

 

 

3,000,542

 

 

 

17,776,096

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

31,833,437

 

 

$

(3,545

)

 

$

31,829,892

 

 

$

13,064,656

 

 

$

18,765,236

 

 

 

 

 

December 31, 2017

 

 

 

Amortized Cost

 

 

Gross Unrealized Losses

 

 

Estimated Fair Value

 

 

Cash and Cash Equivalents

 

 

Short-Term Investments

 

Cash

 

$

3,040,696

 

 

$

 

 

$

3,040,696

 

 

$

3,040,696

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Level 1 (1):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

 

8,234,751

 

 

 

 

 

 

8,234,751

 

 

 

8,234,751

 

 

 

 

U.S. treasury securities

 

 

2,490,799

 

 

 

(5,540

)

 

 

2,485,259

 

 

 

 

 

 

2,485,259

 

Subtotal

 

 

10,725,550

 

 

 

(5,540

)

 

 

10,720,010

 

 

 

8,234,751

 

 

 

2,485,259

 

Level 2 (2):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial paper

 

 

9,716,093

 

 

 

 

 

 

9,716,093

 

 

 

 

 

 

9,716,093

 

Corporate debt obligations

 

 

6,829,191

 

 

 

(9,414

)

 

 

6,819,777

 

 

 

 

 

 

6,819,777

 

Repurchase agreements

 

 

3,000,233

 

 

 

 

 

 

3,000,233

 

 

 

3,000,233

 

 

 

 

Asset-backed securities

 

 

3,018,276

 

 

 

(1,953

)

 

 

3,016,323

 

 

 

750,388

 

 

 

2,265,935

 

Subtotal

 

 

22,563,793

 

 

 

(11,367

)

 

 

22,552,426

 

 

 

3,750,621

 

 

 

18,801,805

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

36,330,039

 

 

$

(16,907

)

 

$

36,313,132

 

 

$

15,026,068

 

 

$

21,287,064

 

 

 

(1)

Level 1 fair value estimates are based on quoted prices in active markets for identical assets or liabilities.

 

(2)

Level 2 fair value estimates are based on observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.  

Summary of Short-term Investments with Unrealized Losses

 

The following table presents the Company’s short-term investments with unrealized losses by investment category and length of time that individual securities have been in a continuous unrealized loss position as of September 30, 2018:

 

 

Less Than 12 Months

 

Description of Securities

 

Estimated Fair Value

 

 

Unrealized Losses

 

September 30, 2018

 

 

 

 

 

 

 

 

Corporate debt obligations

 

$

4,482,979

 

 

$

(2,091

)

Asset-backed securities

 

 

3,310,519

 

 

 

(1,626

)

Total

 

$

7,793,498

 

 

$

(3,717

)

 

Schedule of Contractual Maturities of Short-term Investments

 

Contractual maturities of short-term investments as of September 30, 2018 are as follows:

 

 

 

Estimated Fair Value

 

Due within one year

 

$

18,765,236

 

Total

 

$

18,765,236