Quarterly report pursuant to Section 13 or 15(d)

2. Significant Accounting Policies (Tables)

v3.8.0.1
2. Significant Accounting Policies (Tables)
 3 Months Ended
Mar. 31, 2018
Accounting Policies [Abstract]  
Assets and liabilities measured at fair value on a recurring basis

 

March 31, 2018   Level 1     Level 2     Total  
Assets                  
Cash equivalents(1)   $ 8,151,365     $ -     $ 8,151,365  
Restricted cash(2)     31       800,000       800,031  
Total   $ 8,151,396     $ 800,000     $ 8,951,396  

 

(1) Cash equivalents represent the fair value of the Company’s investments in a money market account at March 31, 2018.

 

(2) Restricted cash represents the fair value of the Company’s investments in an $800,000 certificate of deposit and $31 in a money market account at March 31, 2018.

 

 

December 31, 2017   Level 1     Level 2     Total  
Assets                  
Cash equivalents(1)   $ 8,872,982     $ -     $ 8,872,982  
Restricted cash(2)     31       800,000       800,031  
Total   $ 8,873,013     $ 800,000     $ 9,673,013  

 

(1) Cash equivalents represent the fair value of the Company’s investments in two money market accounts at December 31, 2017.

 

(2) Restricted cash represents the fair value of the Company’s investments in an $800,000 certificate of deposit and $31 in a money market account at December 31, 2017.