Marketable Securities

9 Months Ended

Sep. 30, 2020

Marketable Securities [Abstract]

Marketable Securities

Note 5: Marketable Securities

Marketable securities consist of mutual funds and debt securities. As of September 30, 2020, and December 31, 2019, it was determined that none of the marketable securities had an other-than-temporary impairment. At September 30, 2020 and December 31, 2019, all securities were measured as Level 1 instruments of the fair value measurements standard (see Note 13: Fair Value). As of September 30, 2020, and December 31, 2019 the Company held $15,980,000 and $7,308,000 in debt and equity securities, respectively.

Debt securities classified as available for sale consisted of:

September 30, 2020
(in thousands)

Securities	Amortized Cost		Gross Unrealized Gains /(Losses)		Gross Unrealized Gains /(Losses)			Fair Value		Marketable Securities
U.S. Treasury notes	$	5,641	$	—	$	(23	)	$	5,618	$	5,618
U.S. Government mortgage backed securities		4,748		—		(27	)		4,721		4,721
Corporate bonds		5,603		—		38			5,641		5,641
Totals	$	15,992	$	—	$	(12	)	$	15,980	$	15,980

As of December 31, 2019 the Company held no debt securities.

The following presents available-for-sale securities’ gross unrealized losses and fair value aggregated by the short- and long-term maturity.

September 30, 2020
(in thousands)

	Less than 12 Months				12 Months or More					Total
Securities	Fair Value		Gross Unrealized Gains		Fair Value		Gross Unrealized Gains			Fair Value		Gross Unrealized Gains
U.S. Treasury notes	$	1,008	$	—	$	4,610	$	(23	)	$	5,618	$	(23	)
U.S. Government mortgage backed securities		—		—		4,721		(27	)		4,721		(27	)
Corporate bonds		136		—		5,505		38			5,641		38
Totals	$	1,144	$	—	$	14,836	$	12		$	15,980	$	(12	)