Related Party Transactions

9 Months Ended

Sep. 30, 2018

C.	Related Party Transactions

Certain balances held and invested in various mutual funds are managed by a related entity (the "Fund Manager"), which is related through a director who is also a 10% stockholder and currently serves as an executive officer of the Fund Manager. The brokerage and fund transactions in 2018 and 2017 were directed solely at the discretion of the Company’s management.

As of September 30, 2018, the balance with the Fund Manager totaled $16,251,000 which is classified within marketable securities on the accompanying consolidated balance sheet. Amounts invested generated $200,000 of realized and unrealized investment income during 2018 that is included within other income, net on the accompanying unaudited consolidated statement of operations. Fund management fees are anticipated to average less than 0.25% of the asset balances under management on an annual basis.

As of December 31, 2017, the balance with the Fund Manager totaled $14,842,000, including $11,050,000 which is classified within cash and cash equivalents on the accompanying unaudited consolidated balance sheet, and $3,792,000 which is classified as marketable securities on the accompanying unaudited consolidated balance sheet.