|12 Months Ended|
Dec. 31, 2016
NOTE 3 – RESTRICTED CASH
Restricted cash at December 31, 2016 and 2015 of approximately $89,000 and $132,000, respectively, collateralizes a letter of credit issued in connection with the lease of office space in New York City (see Note 10).
The entire disclosure for cash and cash equivalent footnotes, which may include the types of deposits and money market instruments, applicable carrying amounts, restricted amounts and compensating balance arrangements. Cash and equivalents include: (1) currency on hand (2) demand deposits with banks or financial institutions (3) other kinds of accounts that have the general characteristics of demand deposits (4) short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Generally, only investments maturing within three months from the date of acquisition qualify.
Reference 1: http://www.xbrl.org/2003/role/presentationRef