Item 3. Quantitative and Qualitative Disclosures About Market Risk
ITEM
3: Quantitative and Qualitative Disclosures About Market Risk
We
had approximately $54,476,000 in cash, cash equivalents and marketable securities at September 30, 2020 as compared to $8,778,000
at December 31, 2019.
To
the extent that our cash and cash equivalents exceed our near-term funding needs, we intend to invest the excess cash in money
market accounts, high-grade corporate bonds or fixed-income type bond funds. We employ established conservative policies and procedures
to manage any risks with respect to investment exposure.
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