FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Jun. 30, 2019

Schedule of fair value measurements based on valuation technique

Financial assets and liabilities included in our financial statements and measured at fair value are classified based on the valuation technique level in the table below:

	As of June 30, 2019
Description:	Total		Level 1		Level 2		Level 3
Cash and cash equivalents (1)	$	24,322,594	$	24,322,594	$	—	$	—
Restricted cash (1)		500,000		500,000		—		—
Total at fair value	$	24,822,594	$	24,822,594	$	—	$	—

	As of March 31, 2019
Description:	Total		Level 1		Level 2		Level 3
Cash and cash equivalents (1)	$	117,991,200	$	117,991,200	$	—	$	—
Restricted cash (1)		500,000		500,000		—		—
Marketable securities (2)		1,850,000		—		—		1,850,000
Total at fair value	$	120,341,200	$	118,491,200	$	—	$	1,850,000

(1)

Cash, cash equivalents and restricted cash, totaling approximately $24.8 million and $118.5 million as of June 30, 2019 and March 31, 2019, respectively, consist primarily of a checking account and money market funds for which we determine fair value through quoted market prices.

(2)

At March 31, 2019, marketable securities included two municipal ARS issued by the District of Columbia having a fair value totaling approximately $1.9 million. Historically, the fair value of ARS investments approximated par value due to the frequent resets through the auction process. The ARS were sold at face value in June 2019.

Schedule of marketable securities measured at fair value using significant unobservable inputs (Level 3)

The following table provides a reconciliation of the beginning and ending balance for the Company’s marketable securities measured at fair value using significant unobservable inputs (Level 3):

		Marketable Securities
Balance March 31, 2019	$	1,850,000
Sale of ARS		(1,850,000	)
Balance June 30, 2019	$	—

THESTREET, INC. 10-Q