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CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS | 9 Months Ended
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Oct. 31, 2019
CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS |
CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS | NOTE 3 – CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS At October 31 and January 31, 2019, a significant amount of cash and cash equivalents was invested in a mutual fund with net assets invested in high-quality money market instruments. Such investments include U.S. Treasury obligations; obligations of U.S. Government agencies, authorities, instrumentalities or sponsored enterprises; and repurchase agreements secured by U.S. Government obligations. The Company considers all liquid investments with original maturities of three months or less at the time of purchase to be cash equivalents. Short-term investments as of October 31 and January 31, 2019 consisted solely of certificates of deposit purchased from Bank of America (the “Bank”) with weighted average initial maturities of 147 days and 250 days, respectively (the “CDs"). The Company has the intent and ability to hold the CDs until they mature, and they are carried at cost plus accrued interest which approximates fair value. The total carrying value amounts as of October 31 and January 31, 2019 included accrued interest of $0.1 million and $1.2 million, respectively. Interest income is recorded when earned and is included in other income. At October 31 and January 31, 2019, the weighted average annual interest rates of the CDs were 1.9% and 2.6%, respectively. In addition, the Company has a substantial portion of its cash on deposit at the Bank in excess of federally insured limits. Management does not believe that the combined amount of the CD investments and the cash deposited with the Bank represents a material risk.

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- Definition The entire disclosure of the components of cash, cash equivalents, and short-term investments. Short-term investments may include current marketable securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 305 -URI http://asc.fasb.org/topic&trid=2122426 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 + Details
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