Note 3 - Restricted Cash and Cash Equivalents and Restricted Investments Available for Sale

9 Months Ended

Sep. 30, 2012

Restricted Cash And Investments Current Item Description [Text Block]

3.             Restricted Cash and Cash Equivalents and Restricted Investments Available for Sale

At September 30, 2012, the Company collateralized certain operational bank accounts at Bank of America and at December 31, 2011, the Company collateralized its Bank of America line of credit with the following (in thousands):

	September 30, 2012		December 31, 2011
Restricted cash and cash equivalents	$	200	$	13,449
Restricted investments available for sale:
U.S. Treasury Notes		0		5,007
Corporate Notes and Bonds		0		4,062
Accrued interest income		0		84
Total restricted investments available for sale		0		9,153
Total restricted cash and cash equivalents and restricted investments available for sale	$	200	$	22,602

The restricted investments were classified as available for sale and were stated at fair value. The Company capitalized any premiums paid or discounts received and amortized the premiums or accreted the discounts on a straight-line basis over the remaining term of the security. Gross unrealized holding gains and losses were as follows (in thousands):

	September 30, 2011
Gross unrealized holding gains	$	18
Gross unrealized holding losses		5

The change in comprehensive income was as follows (in thousands):

	Nine Months Ended September 30,						Three Months Ended September 30,
	2012			2011			2012		2011
Decrease in comprehensive income	$	(3	)	$	(25	)	$	0	$	(12	)

The Company received proceeds from the sale of restricted investments available for sale and realized gain on sale as follows (in thousands):

	Nine Months Ended September 30, 2012
Proceeds from sale of restricted investments	$	2,015
Realized gain on sale of restricted investments		3

There were no sales of restricted investments available for sale during the three months ended September 30, 2012 and during the nine and three months ended September 30, 2011.  Realized gains and losses are recognized using the actual cost of the investment.