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

12 Months Ended

Dec. 31, 2012

Restricted Cash And Investments Current Item Description [Text Block]

NOTE B – RESTRICTED CASH AND CASH EQUIVALENTS AND RESTRICTED INVESTMENTS AVAILABLE FOR SALE

At December 31, 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 restricted cash and cash equivalents.  The Company’s restricted cash and cash equivalents and restricted investments available for sale at December 31 were as follows (in thousands):

	2012		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 are classified as available for sale and are 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.  At December 31 gross unrealized holding gains and losses were as follows (in thousands):

	2011
Gross unrealized holding gains	$	8
Gross unrealized holding losses		3

For the years ended December 31 the change in comprehensive income was as follows (in thousands):

	2012			2011			2010
(Decrease)/Increase in comprehensive income	$	(3	)	$	(30	)	$	34

The Company received proceeds from the sale of restricted investments available for sale and realized gain on sale for the year ended December 31 as follows (in thousands):

	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 years ended December 31, 2011 and 2010.  Realized gains are recognized using the actual cost of the investment.