3. Fair Value of Financial Instruments

3 Months Ended

Mar. 31, 2015

Fair Value Disclosures [Abstract]

3. Fair Value of Financial Instruments

The following table presents a summary of the Company’s financial instruments measured at fair value on a recurring basis for the periods indicated (in thousands):

	As of March 31, 2015								As of December 31, 2014
	(Level 1)		(Level 2)		(Level 3)		Total		(Level 1)		(Level 2)		(Level 3)		Total
Assets:
Cash and cash equivalents	$	9,909	$	–	$	–	$	9,909	$	32,175	$	–	$	–	$	32,175
Restricted cash		10,041		–		–		10,041		509		–		–		509
Short term investments		8,190		–		–		8,190		8,189		–		–		8,189
Notes receivable		–		651		–		651		–		980		–		980
Total assets	$	28,140	$	651	$	–	$	28,791	$	40,873	$	980	$	–	$	41,853
Liabilities:
Bank acceptance payable		–		1,445		–		1,445		–		1,271		–		1,271
Total liabilities	$	–	$	1,445	$	–	$	1,445	$	–	$	1,271	$	–	$	1,271

The carrying value amounts of accounts receivable, prepaid expenses and other current assets, borrowings from our credit facility, accounts payable, accrued expenses and other current liabilities approximate fair value because of the short-term maturity of these instruments.