Quarterly report pursuant to Section 13 or 15(d)

2. Significant Accounting Policies (Tables)

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2. Significant Accounting Policies (Tables)
6 Months Ended
Jun. 30, 2018
Accounting Policies [Abstract]  
Assets and liabilities measured at fair value on a recurring basis

 

June 30, 2018   Level 1     Level 2     Total  
Assets                  
Cash equivalents(1)   $ 7,373,758     $ -     $ 7,373,758  
Restricted cash(2)     31       800,000       800,031  
Total   $ 7,373,789     $ 800,000     $ 8,173,789  

 

(1) Cash equivalents represent the fair value of the Company’s investments in a money market account at June 30, 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 June 30, 2018.

 

 

December 31, 2017   Level 1     Level 2     Total  
Assets                  
Cash equivalents(1)   $ 8,864,288     $ -     $ 8,864,288  
Restricted cash(2)     31       800,000       800,031  
Total   $ 8,864,319     $ 800,000     $ 9,664,319  

 

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