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CASH AND CASH EQUIVALENTS AND MARKETABLE DEBT SECURITIES

9 Months Ended

Sep. 26, 2020

Cash and Cash Equivalents [Abstract]

CASH AND CASH EQUIVALENTS AND MARKETABLE DEBT SECURITIES

3. CASH AND CASH EQUIVALENTS AND MARKETABLE DEBT SECURITIES

The Company considers all highly liquid, short-term debt instruments with original maturities of three months or less to be cash equivalents.

Marketable debt securities consist primarily of commercial paper, medium-term corporate notes, and U.S. government and agency backed securities. The Company classifies these marketable debt securities as available-for-sale at fair value in “Marketable debt securities, at fair value.” The Company records the amortization of premium and accretion of discounts on marketable debt securities in the results of operations.

The Company uses the specific identification method as a basis for determining cost and calculating realized gains and losses with respect to marketable debt securities. The gross gains and losses realized related to sales and maturities of marketable debt securities were not material during the three and nine months ended September 26, 2020 and September 28, 2019.

Investments in available-for-sale marketable debt securities were as follows at September 26, 2020 and December 28, 2019:

SCHEDULE OF AVAILABLE-FOR-SALE MARKETABLE DEBT SECURITIES 

		Amortized Cost								Unrealized Gains								Unrealized Losses								Fair Value
		2020				2019				2020				2019				2020				2019				2020				2019
U.S. government and agency backed securities		$	1,004,880			$	8,304,229			$	23,990			$	-			$	-			$	(7,359	)		$	1,028,870			$	8,296,870
Corporate Debt			3,954,345				7,459,298				5,638				-				-				(3,171	)			3,959,983				7,456,127
Total		$	4,959,225			$	15,763,527			$	29,628			$	-			$	-			$	(10,530	)		$	4,988,853			$	15,752,997

The contractual maturity of the Company’s marketable debt securities was as follows at September 26, 2020

SCHEDULE OF MARKETABLE DEBT SECURITIES 

		Less than One year				One to Five Years				Total
U.S. government and agency backed securities		$	-			$	1,028,870			$	1,028,870
Corporate debt			1,550,508				2,409,475				3,959,983
Total		$	1,550,508			$	3,438,345			$	4,988,853

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- References

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- Definition

The entire disclosure of cash, cash equivalents, and debt and equity securities, including any unrealized or realized gain (loss).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-URI http://asc.fasb.org/topic&trid=2196928

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