Note 6. Investments

Short-Term Investments:

Our short-term investments are carried at cost, which approximates fair value. Our investments include certificates of deposit with large U.S. and international banks and commercial paper with maturities, at purchase, ranging from 6 to 12 months.

Long-Term Investments:

Detail of long-term investments:



	July 26, 2013		April 26, 2013
ImThera Medical, Inc. - convertible preferred shares ⁽¹⁾	$	8,000,002	$	8,000,002
Cerbomed GmbH - convertible preferred shares ⁽²⁾		2,588,200		2,588,200
Carrying amount – long-term investments	$	10,588,202	$	10,588,202

(1)

ImThera Medical, Inc. (“ImThera”) is a privately-held company focused on developing a neurostimulation device system for the treatment of obstructive sleep apnea. See “Note 14. Fair Value Measurements” for further details regarding this investment. This investment provides us with less than 20% ownership without significant influence over the entity involved. We are contractually committed to purchase one additional tranche of convertible preferred stock of $4.0 million contingent on ImThera attaining certain performance goals.

(2)

Cerbomed GmbH (“Cerbomed”) is a privately-held German company focused on developing a transcutaneous vagus nerve stimulation device for the treatment of epilepsy. This investment provides us with less than 20% ownership and no significant influence over the entity involved. See “Note 14. Fair Value Measurements” for further details regarding this investment.