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Cash, Cash Equivalents and Short-Term Investments
 9 Months Ended
Sep. 30, 2021
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 with maturity periods of three months or less when purchased. As of September 30, 2021 and December 31, 2020, the Company’s cash and cash equivalents were composed of:
September 30,
2021		December 31,
2020
UnauditedAudited
Cash$27,768 $20,339 
Money market funds422,082 214,335 
U.S. Treasury bills239,987 — 
Total cash and cash equivalents$689,837 $234,674 
As of September 30, 2021 and December 31, 2020, the Company’s short-term investments were:
September 30,
2021		December 31,
2020
 UnauditedAudited
U.S. Treasury bills$199,948 607,902 
Term deposits44,000 — 
Short-term investments$243,948 607,902 
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 cash and cash equivalents and short-term investments according their maturity periods.
Quoted market prices were applied to determine the fair value of cash equivalents and short-term investments, therefore they were 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, 2021 and December 31, 2020 was $243,964 and $607,905, respectively.