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Financial Instruments

6 Months Ended

Jun. 30, 2021

Investments, All Other Investments [Abstract]

Financial Instruments

4. Financial Instruments

Cash, Cash Equivalents and Marketable Securities

The following tables show the Company’s cash and cash equivalents and marketable securities and investments by significant investment category as of June 30, 2021, and December 31, 2020:

		2021
		Adjusted Cost				Unrealized Gain/(Loss)				Fair Value				Cash and Cash Equivalents				Marketable Securities				Investments
Cash and cash equivalents		$	6,497,000			$	-			$	6,497,000			$	6,497,000			$	-			$	-
Level 1							-
Money Market Funds			59,148,000				-				59,148,000				59,148,000				-				-
Marketable Securities			4,727,000				2,592,000				7,319,000				-				7,319,000				-
Level 2
Warrants			15,657,000				(6,117,000	)			9,540,000				-				-				9,540,000
Total		$	86,029,000			$	(3,525,000	)		$	82,504,000			$	65,645,000			$	7,319,000			$	9,540,000

		2020
		Adjusted Cost				Unrealized Gain/(Loss)				Fair Value				Cash and Cash Equivalents				Marketable Securities				Investment
Cash and cash equivalents		$	1,690,000			$	-			$	1,690,000			$	1,690,000			$	-			$	-
Level 1
Money Market Funds			3,493,000				-				3,493,000				3,493,000				-				-
Marketable Securities			5,641,000				3,495,000				9,136,000				-				9,136,000				-
Level 2
Warrants			700,000				356,000				1,056,000				-				-				1,056,000
Total		$	11,524,000			$	3,851,000			$	15,375,000			$	5,183,000			$	9,136,000			$	1,056,000

The Company typically invests in highly rated securities, with the primary objective of minimizing the potential risk of principal loss. The Company’s investment policy generally requires securities to be investment grade and limits the amount of credit exposure to any one issuer. Fair values were determined for each individual security in the investment portfolio.