FAIR VALUE OF FINANCIAL INSTRUMENTS

3 Months Ended

Mar. 31, 2019

Fair Value Disclosures [Abstract]

Fair Value Disclosures [Text Block]

5. FAIR VALUE OF FINANCIAL INSTRUMENTS

In accordance with ASC Topic 820, the Company measures cash and cash equivalents, marketable debt and equity securities at fair value on a recurring basis. Other investments are measured at fair value on a nonrecurring basis.

The following are the major categories of assets and liabilities measured at fair value on a recurring basis as of March 31, 2019 and December 31, 2018, using quoted prices in active markets for identical assets (Level 1) and significant other observable inputs (Level 2). For the periods presented, there were no major assets measured at fair value on a recurring basis which uses significant unobservable inputs (Level 3):

Assets and liabilities measured at fair value on a recurring basis are summarized below:

	Fair value measurement at reporting date using
Description	Total March 31, 2019		Quoted Prices   in Active Markets for   Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Cash equivalents:
Time deposits	$	50,000	$	-	$	50,000	$	-
Money market mutual funds		659,000		659,000		-		-
US T-bills		17,529,000		17,529,000
Marketable securities:
Corporate debt securities		562,000		-		562,000		-
Marketable equity securities		3,045,000		3,045,000		-		-
Total assets	$	21,845,000	$	21,233,000	$	612,000	$	-

	Fair value measurement at reporting date using
Description	Total December 31, 2018		Quoted Prices   in Active Markets for   Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Cash equivalents:
Time deposits	$	355,000	$	-	$	355,000	$	-
Money market mutual funds		1,594,000		1,594,000		-		-
US T-bills		17,429,000		17,429,000
Marketable securities:
Corporate debt securities		502,000		-		502,000		-
Marketable equity securities		2,574,000		2,574,000		-		-
Total assets	$	22,454,000	$	21,597,000	$	857,000	$	-

Carrying amount is the estimated fair value for corporate debt securities and time deposits based on a market-based approach using observable (Level 2) inputs such as prices of similar assets in active markets.