CASH AND CASH EQUIVALENTS

6 Months Ended

Jun. 30, 2013

CASH AND CASH EQUIVALENTS

CASH AND CASH EQUIVALENTS

NOTE 4 — CASH AND CASH EQUIVALENTS

Cash and cash equivalents typically comprise cash balances and readily marketable investments with original maturities of three months or less, such as money market funds, short-term government bonds, Treasury bills, marketable securities and commercial paper. The Company’s treasury policy is to invest excess cash in money market funds or other investments, which are generally of a short-term duration based upon operating requirements. Income earned on these investments is recorded to interest income in the Company’s condensed consolidated statements of operations. As of June 30, 2013 and December 31, 2012, cash and cash equivalents totaled $17,261 and $516, respectively, and existed all in the form of cash balances.