Cash, cash equivalents and restricted cash

3 Months Ended

Mar. 31, 2013

Cash and Cash Equivalents [Abstract]

Cash and Cash Equivalents Disclosure [Text Block]

Note 5: Cash, cash equivalents and restricted cash

MGT invests substantially all its cash in demand deposits and money market accounts with major U. S. banks. As of March 31, 2013, we held $4,717 of cash and cash equivalents, including Restricted cash.

Concentrations

As of March 31, 2013, our cash balance was $2,678. Of the total cash balance, $518 is covered by U.S. Federal Deposit Insurance Corporation, and $17 is uninsured in a foreign institution.

Restricted cash

Restricted cash totaled $2,039, representing $2,000 restricted under the Series A Convertible Preferred Stock Agreement (Note 7), plus $39 supporting a letter of credit for our Harrison, NY office lease.