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Cash, Cash Equivalents and Short-Term Investments
 12 Months Ended
Dec. 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
December 31,
2020		   As of
December 31,
2019		 
Cash and cash equivalents  $6,949,937   $6,293,293 
Short-term investments   996,495    2,480,753 
Total  $7,946,432   $8,774,046 

 

Held to maturity securities (certificates of deposit) are carried at amortized cost. As of December 31, 2019, we were required to maintain at least $2,000,000 of otherwise unrestricted cash, cash equivalents and short-term investments in compliance with a bank debt covenant. We were not subject to such a requirement as of December 31, 2020.