(i) exchange rates in effect at period end for assets and liabilities, and (ii) average exchange rates during the period for results of
operations. Adjustments resulting from translation of such financial statements are reflected in accumulated other comprehensive income
as aseparate component of consolidated stockholders’ equity.
The financial statements of foreign subsidiaries where the functional currency is the U.S. dollar are r e m e a s u red using historical
exchangerates for nonmonetary items while current exchange rates are used for monetary items. Foreign exchange gains and losses
arising from the re m e a s u rement are re p o rted in the consolidated statement of operations and comprehensive loss. 
(c)  Cash equivalents 
For the purposes of the consolidated statements of cash flows, the Company considers all highly liquid debt instruments purchased with
an original maturity of three months or less to be cash equivalents. 
(d)  Investment securities 
The Company has classified its investment securities as held-to-maturity or available-for-sale. Held-to-maturity securities are those
securities in which the Company has the ability and intent to hold the security to maturity. All securities not included in held-to-maturity 
a re classified as available-for sale. 
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