Short Term Investments

6 Months Ended

Jun. 30, 2018

Investments Schedule [Abstract]

Short Term Investments

SHORT TERM INVESTMENTS

Short-term investments at June 30, 2018 consisted of U.S Treasury Bills totaling $11.0 million that matured on July 5, 2018.  Short-term investments at December 31, 2017 consisted of U.S. Treasury Bills totaling $11.0 million that matured on January 11, 2018. The interest rate on the U.S. Treasury Bills held on June 30, 2018 was 1.45% and was less than one percent for the U.S. Treasury Bills held as of December 31, 2017. The investments are classified as held-to-maturity and recorded at cost plus accrued interest, which approximates fair value. The fair value of the U.S. Treasury Bills at June 30, 2018 and December 31, 2017 were classed as Level 1, as they are traded with sufficient frequency and volume to enable us to obtain pricing information on an ongoing basis. For further discussion of fair value, refer to Note 13 – Fair Value of Financial Instruments.