Cash, Cash Equivalents and Short-Term Investments

3 Months Ended

Mar. 31, 2020

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 March 31, 2020		As of December 31, 2019
Cash and cash equivalents	$	6,505,141	$	6,293,293
Short-term investments		493,821		2,480,753
Total	$	6,998,962	$	8,774,046

Held to maturity securities (certificates of deposit) are carried at amortized cost. As of March 31, 2020, we were required by a bank debt covenant to maintain at least $1,400,000 of otherwise unrestricted cash, cash equivalents and short-term investments in an escrow account in favor of the bank.