Cash, Cash Equivalents and Short-Term Investments

12 Months Ended

Dec. 31, 2019

Cash and Cash Equivalents [Abstract]

CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS

3. CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS

Cash, cash equivalents and short-term investments (at amortized cost plus accrued interest) consisted of the following:

	As of December 31, 2019		As of December 31, 2018
Cash and cash equivalents	$	6,293,293	$	2,521,050
Short-term investments		2,480,753		—
Total	$	8,774,046	$	2,521,050

Held to maturity securities (certificates of deposit) are carried at amortized cost. We are required by a bank debt covenant to maintain at least $2,000,000 of otherwise unrestricted cash, cash equivalents and short-term investments.