Note

Cash, Cash Equivalents and Marketable Investments

The Company invests its cash primarily in money market funds and in highly liquid debt instruments of U.S. federal and municipal governments and their agencies, commercial paper and corporate debt securities. All highly liquid investments with stated maturities of

three

months or less from date of purchase are classified as cash equivalents; all highly liquid investments with stated maturities of greater than

three

months are classified as marketable investments. The majority of the Company’s cash and investments are held in U.S. banks and the Company's foreign subsidiaries maintain a limited amount of cash in their local banks to cover their short term operating expenses.

The Company determines the appropriate classification of its investments in marketable securities at the time of purchase and re-evaluates such designation at each balance sheet date. The Company’s marketable securities have been classified and accounted for as available-for-sale securities. Investments with remaining maturities of more than

one

year are viewed by the Company as available to support current operations and are classified as current assets under the caption marketable investments in the accompanying condensed consolidated balance sheets. Investments in available-for-sale debt securities are measured at fair value under the guidance in ASC

320.

Credit losses on impaired available-for-sale debt securities are recognized through an allowance for credit losses. Under ASC

326,

credit losses recognized on an available-for-sale debt security should

not

reduce the net carrying amount of the available-for-sale debt security below its fair value. Any changes in fair value unrelated to credit are recognized as an unrealized gain or loss in other comprehensive income.

The following tables summarize the components, and the unrealized gains and losses position, related to the Company’s cash, cash equivalents and marketable investments (in thousands):

March 31, 20 20	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Market Value
Cash and cash equivalents	$	14,774	$	-	$	-		$	14,774

Marketable investments:
U.S. government notes		804		1		-			805
Commercial paper		3,941		1		(1	)		3,941
Total marketable investments		4,745		2		(1	)		4,746

Total cash, cash equivalents and marketable investments	$	19,519	$	2	$	(1	)	$	19,520

December 31, 2019	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Market Value
Cash and cash equivalents	$	26,316	$	-	$	-	$	26,316

Marketable investments
U.S. government notes		4,114		-		-		4,114
Commercial paper		3,491		-		-		3,491
Total marketable securities		7,605		-		-		7,605

Total cash, cash equivalents and marketable securities	$	33,921	$	-	$	-	$	33,921

As of

March 31, 2020

and

December 31, 2019,

the net unrealized gains (losses) were

$1,000

and

Nil,

respectively, and were related to interest rate changes on available-for-sale marketable investments. The Company has concluded that it is more-likely-than-

not

that the securities will be held until maturity or the recovery of their cost basis.

securities were in an unrealized loss position for more than

months.

The following table summarizes the contractual maturities of the Company’s available-for-sale securities, classified as marketable investments as of

March 31, 2020 (

in thousands):

	Amount
Due in less than one year	$	4,746
Due in 1 to 3 years		-
Total marketable investments	$	4,746