United States government securities are issues of the United States Treasury and various government agencies used to finance the activities of the federal government.
Due to the low risk of loss of capital and certainty of income, United States government securities are readily accepted by lenders as security for loans.
United States government securities are virtually free of the risk of default.
United States government securities provide a rate of return that is generally lower than other fixed income securities.
Interest from United States government securities is entirely exempt from all state and local taxes.
The amendment also allows the use of government money market funds for IOTA funds; however, only money market funds that are registered with the Securities and Exchange Commission, and are comprised solely of United States Government securities
, are permitted for use in the IOTA program.
According to Amada's complaint, the Princeton Notes were marketed with the assurance that the proceeds of the sale of these notes would be deposited in segregated accounts at Republic Securities and invested in United States Government securities
as a means of securing repayment of the Princeton Notes.
David Goldblatt's career of over 29 years is in trading, selling, and financing United States Government Securities
and money market funds.
Following this offering, the Company will have cash and United States Government securities totaling approximately $23 million, putting DUSA in position to continue its active program of clinical trials on ALA PDT and PD.
At March 31, 1996, the company had cash and United States Government securities totaling $19,717,719 and shareholders' equity of $19,296,234, compared to $9,856,777, and $9,661,714 respectively, at March 31, 1995.