Cash, Cash Equivalents and Short-Term Investments

6 Months Ended

Jun. 30, 2020

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.

	June 30, 2020		December 31, 2019
	Unaudited		Audited
Cash	$	17,589	$	18,377
Money market funds	179,195		158,944
Total cash and cash equivalents	$	196,784	$	177,321

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.

	June 30, 2020		December 31, 2019
	Unaudited		Audited
Short-term investments	$	149,930	$	148,769

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 Accounting Standards Codification (“ASC”) 820, “Fair Value Measurements and Disclosures.” The fair value of the Company’s short-term investments as of June 30, 2020 and December 31, 2019 was $149,992 and $148,738, respectively.