XML 22 R12.htm IDEA: XBRL DOCUMENT v3.21.2

Restricted Cash

6 Months Ended

Jun. 30, 2021

Receivables [Abstract]

Restricted Cash

Note 5. Restricted Cash

As a condition of the $10 million loan facility with Silicon Valley Bank (“SVB”) entered into on June 18, 2021 as further discussed in Note 11, the Company is required at all times to maintain on deposit with SVB as cash collateral in a segregated money market bank account in the name of the Company, unrestricted and unencumbered cash in an amount of at least 100% of the aggregate outstanding amount of the SVB loan facility. SVB may restrict withdrawals or transfers by or on behalf of the Company that would violate this requirement. The required reserve totaled $6.0 million as of June 30, 2021. This amount is presented in part as restricted cash in other non-current assets on the accompanying condensed consolidated balance sheets.

The following table reconciles cash and cash equivalents and restricted cash per the balance sheet to the condensed statement of cash flows:

 Schedule of Cash and Cash Equivalents and Restricted Cash

		June 30,				June 30,
		2021				2020
Cash and cash equivalents		$	26,437,424			$	22,653,760
Money market investments, restricted			6,000,000				-
Total		$	32,437,424			$	22,653,760

X

- References

No definition available.

+ Details

Name:	us-gaap_ReceivablesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure for assets that are restricted in their use, generally by contractual agreements or regulatory requirements. This would include, but not limited to, a description of the restricted assets and the terms of the restriction.

+ References

No definition available.

+ Details

Name:	us-gaap_RestrictedAssetsDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration