Cash, Cash Equivalents and Short-Term Investments

9 Months Ended

Sep. 30, 2019

Cash, Cash Equivalents, and Short-term Investments [Abstract]

Cash, Cash Equivalents and Short-Term investments

CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS

Cash equivalents include items almost as liquid as cash, such as certificates of deposit and time deposits with maturity periods of three months or less when purchased.

	September 30, 2019		December 31, 2018
	Unaudited		Audited
Cash	$	5,851	$	9,197
Money market funds	202,183		131,425
Total cash and cash equivalents	$	208,034	$	140,622

The Company invests in marketable U.S. Treasury Bills (“T-bills”) that are classified as held-to-maturity securities. The amortized cost and recorded basis of the T-bills are presented as short-term investments.

	September 30, 2019		December 31, 2018
	Unaudited		Audited
Short-term investments	$	104,565	$	105,256

Quoted market prices were applied to determine the fair value of cash equivalents and short-term investments, therefore they are categorized as Level 1 in accordance with ASC 820, “Fair Value Measurements and Disclosures.” The estimated fair value of the Company’s short-term investments as of September 30, 2019 and December 31, 2018 was $104,613 and $105,266, respectively.