examples of forward-looking statements include any expectations , projections , or other characterizations of future events , or circumstances , and include statements regarding : the impact of covid-19 on our business , including as to revenue , and potential cost reduction measures , and the impact of covid-19 on our customers , suppliers , and on the economy in general ; our strategy and our ability to execute our business plan ; our competition and the market in which we operate ; our customers and suppliers ; our revenue and the recognition and components thereof ; our costs and expenses ; including capital expenditures ; seasonality and demand ; our investment in research and technology development ; changes to general and administrative expenses ; our foreign operations and the reinvestment of our earnings related thereto ; our investment in and protection of our ip ; our employees ; capital expenditures and the sufficiency of our capital resources ; unrecognized tax benefit and tax liabilities ; the impact of changes in interest rates and foreign exchange rates , as well as our plans with respect to foreign currency hedging in general ; changes in laws and regulations ; including with respect to taxes ; our plans related to and the impact of current and future litigation ; our sublease and the timing and income related thereto ; and our stock repurchase program . because forward-looking statements relate to the future , they are subject to inherent uncertainties , risks and changes in circumstances that are difficult to predict and many of which are outside of our control . actual results could differ materially from those projected in the forward-looking statements , therefore we caution you not to place undue reliance on these forward-looking statements . important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include , among others , the following : the effects of the covid-19 global pandemic on us and our business , and on the business of our suppliers and customers ; unanticipated changes in the markets in which we operate ; the effects of the current macroeconomic climate ( especially in light of the ongoing adverse effects of the covid-19 global pandemic ) ; delay in or failure to achieve adoption of or commercial demand for our products or third party products incorporating our technologies ; the inability of immersion to renew existing licensing arrangements , or enter into new licensing arrangements for our patents and other technologies on favorable terms ; the loss of a major customer ; the ability of immersion to protect and enforce our intellectual property rights ; unanticipated difficulties and challenges in developing or acquiring successful innovations and our ability to patent those innovations ; changes in patent law ; confusion as to our licensing model or agreement terms ; the ability of immersion to return to consistent profitability in the future ; the inability of immersion to retain or recruit necessary personnel ; the commencement , by others or by us , of legal or administrative action ; risks related to our international operations and other factors . any forward-looking statements made by us in this report speak only as of the date of this report , and we do not intend to update these forward-looking statements after the filing of this report , unless required to do so by applicable law . you are urged to review carefully and consider our various disclosures in this report and in our other reports publicly disclosed or filed with the sec that attempt to advise you of the risks and factors that may affect our business . critical accounting policies and estimates our discussion and analysis of our financial condition and results of operations are based upon our consolidated financial statements , which have been prepared in accordance with u.s. gaap . the preparation of these consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets , liabilities , revenues , expenses , and related disclosure of contingent assets and liabilities . on an ongoing basis , we evaluate our estimates and assumptions , including those related to revenue recognition , stock-based compensation , short-term investments , leases , income taxes and contingencies . we base our estimates and assumptions on historical experience and on various other factors that we believe to be reasonable under the circumstances , the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources . actual results may differ from these estimates and assumptions . we believe the following are our most critical accounting policies as they require our significant judgments and estimates in the preparation of our consolidated financial statements : 31 revenue recognition our revenue is primarily derived from fixed fee license agreements and per-unit royalty agreements , along with less significant revenue earned from development , services and other revenue . fixed fee license revenue in certain contracts , we grant a fixed fee license to our existing patent portfolio at the inception of the license agreement as well as rights to the portfolio as it evolves throughout the contract term . for such arrangements , we have two separate performance obligations : performance obligation a - transfer rights to our patent portfolio as it exists when the contract is executed ; performance obligation b - transfer rights to our patent portfolio as it evolves over the term of the contract , including access to new patent applications that the licensee can benefit from over the term of the contract . story_separator_special_tag the decrease in consulting and professional services fees was due to decreases in recruitment fees , accounting and audit fees and consulting and other professional fees in 2020 compared to 2019. we expect our general and administrative expenses to decrease in the future as we achieve targeted reductions in consulting and professional services , and other costs . 36 interest and other income , other expense a summary of interest and other income , other expense for the years ended december 31 , 2020 and 2019 are as follows ( in thousands ) : replace_table_token_3_th interest and other income - interest and other income consists primarily of interest income from cash and cash equivalents and short-term investments . interest and other income decreased $ 1.5 million during 2020 compared to 2019. this decrease was primarily driven by a $ 1.5 million decrease in investment income from cash equivalents and short-term investments due to lower cash equivalents and short-term investments and a decrease in interest rates in 2020 compared to 2019. other income ( expense ) , net - other income ( expense ) , net consists primarily of foreign currency translation gain ( loss ) due to exchange rate fluctuations . other income ( expense ) , net increased $ 0.6 million in 2020 compared to 2019 primarily due to a $ 0.4 million increase in net foreign currency translation gains . benefit from ( provision for ) income taxes a summary of benefit from ( provision for ) income taxes and effective tax rates for the years ended december 31 , 2020 and 2019 are as follows ( in thousands ) : replace_table_token_4_th in 2020 , we recorded a $ 2.2 million benefit from income taxes yielding an effective tax rate of ( 71.0 ) % . the 2020 income tax benefit reflects a one-time deferred tax benefit from the release of valuation allowance against the deferred tax assets of one of our foreign subsidiaries partially offset by estimated foreign income and foreign withholding taxes . based upon our assessment of the realizability of our deferred tax assets in the united states as of december 31 , 2020 , we continue to maintain a full valuation allowance against all of our federal and state deferred tax assets . as of december 31 , 2020 , we had deferred tax assets totaling $ 31.1 million and a valuation allowance of $ 28.5 million , resulting in a net deferred tax asset of $ 2.6 million . on march 27 , 2020 , the coronavirus aid , relief , and economic security act ( “ cares act ” ) was passed into law . the cares act includes several significant business tax provisions including modification to the taxable income limitation for utilization of net operating losses ( “ nols ” ) incurred in 2019 and 2020 and the ability to carry back nols from those years for a period of up to five years , an increase to the limitation on deductibility of certain business interest expense , bonus depreciation for purchases of qualified improvement property and special deductions on certain corporate charitable contributions . we analyzed the provisions of the cares act and determined there was no net effect on our provision for the year ended december 31 , 2020. on december 22 , 2017 , the tax act was passed into law . among other changes , the tax act reduced the us federal corporate income tax rate from 35 % to 21 % , required companies to pay a one-time transition tax on earnings of certain foreign subsidiaries that were previously tax deferred and created new taxes on certain foreign sourced earnings . in addition , the act introduced the base erosion and anti-abuse tax ( the “ beat ” ) , which creates a new tax on certain related-party payments . we concluded that we have not met the threshold requirements of the beat . on july 9 , 2020 , the internal revenue service issued final regulations regarding deductions for global intangible low-taxed income ( “ gilti ” ) and foreign-derived intangible income ( “ fdii ” ) . on july 9 , 2020 , the treasury department released final regulations ( `` td 9901 `` ) under irc section 250 , which allows an annual deduction to a domestic corporation for its foreign-derived intangible income ( `` fdii `` ) and global intangible low-taxed income ( `` gilti `` ) inclusion . the final guidance is not expected to have a material impact on our condensed consolidated financial statements . although the measurement period has closed , further technical guidance related to the tax 37 act , including final regulations on a broad range of topics , is expected to be issued . in accordance with asc 740 , we will recognize any effects of the guidance in the period that such guidance is issued . in 2019 , we recorded a provision for income taxes of $ 0.5 million yielding an effective tax rate of ( 2.4 ) % . the 2019 provision reflects estimated foreign taxes and foreign withholding tax expense . based upon our assessment of the realizability of our deferred tax assets as of december 31 , 2019 , we reported a full valuation allowance against all of our federal and state , and certain of our foreign net deferred tax assets . as of december 31 , 2019 , the aggregated balance of our deferred tax assets totaled $ 28.5 million with a valuation allowance of $ 28.1 million , resulting in a net deferred tax asset balance of $ 0.5 million . as described above , we continue to maintain a valuation allowance of $ 28.5 million against certain of our deferred tax assets , including all federal , state , and certain foreign deferred tax assets as a result of uncertainties regarding the realization of the asset balance due to historical losses , the variability of operating results

liquidity and capital resources our cash equivalents , and short-term investments consist primarily of money market funds and u.s. treasury bills . all of our short-term investments are classified as available-for-sale . the securities are stated at market value , with unrealized gains and losses reported as a component of accumulated other comprehensive income , within stockholders ' equity . as of december 31 , 2020 , our cash , cash equivalents , and short-term investments totaled $ 59.5 million , a decrease of $ 30.0 million from $ 89.5 million on december 31 , 2019. a summary of select cash flow information for the years ended december 31 , 2020 and 2019 ( in thousands ) : replace_table_token_5_th cash provided by ( used in ) operating activities - our operating activities primarily consists of net income ( loss ) , adjusted for certain non-cash items including depreciation and amortization ; stock-based compensation expense , deferred income taxes and the effect of changes in operating assets and liabilities . net cash provided by operating activities was $ 22,000 during 2020 compared to $ 34.1 million cash used in operating activities during 2019. the decrease in net cash used in operating activities was primarily attributable to a $ 25.4 million decrease in net loss and a $ 11.8 million change in net operating assets and liabilities partially offset by $ 4.0 million decrease in noncash items . cash provided by investing activities - our investing activities primarily consist of purchases of and proceeds from maturities of short-term investments and purchases of computer equipment , furniture and leasehold improvements related to facilities expansion .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources our cash equivalents , and short-term investments consist primarily of money market funds and u.s. treasury bills . all of our short-term investments are classified as available-for-sale . the securities are stated at market value , with unrealized gains and losses reported as a component of accumulated other comprehensive income , within stockholders ' equity . as of december 31 , 2020 , our cash , cash equivalents , and short-term investments totaled $ 59.5 million , a decrease of $ 30.0 million from $ 89.5 million on december 31 , 2019. a summary of select cash flow information for the years ended december 31 , 2020 and 2019 ( in thousands ) : replace_table_token_5_th cash provided by ( used in ) operating activities - our operating activities primarily consists of net income ( loss ) , adjusted for certain non-cash items including depreciation and amortization ; stock-based compensation expense , deferred income taxes and the effect of changes in operating assets and liabilities . net cash provided by operating activities was $ 22,000 during 2020 compared to $ 34.1 million cash used in operating activities during 2019. the decrease in net cash used in operating activities was primarily attributable to a $ 25.4 million decrease in net loss and a $ 11.8 million change in net operating assets and liabilities partially offset by $ 4.0 million decrease in noncash items . cash provided by investing activities - our investing activities primarily consist of purchases of and proceeds from maturities of short-term investments and purchases of computer equipment , furniture and leasehold improvements related to facilities expansion .
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 Suspicious Activity Report : examples of forward-looking statements include any expectations , projections , or other characterizations of future events , or circumstances , and include statements regarding : the impact of covid-19 on our business , including as to revenue , and potential cost reduction measures , and the impact of covid-19 on our customers , suppliers , and on the economy in general ; our strategy and our ability to execute our business plan ; our competition and the market in which we operate ; our customers and suppliers ; our revenue and the recognition and components thereof ; our costs and expenses ; including capital expenditures ; seasonality and demand ; our investment in research and technology development ; changes to general and administrative expenses ; our foreign operations and the reinvestment of our earnings related thereto ; our investment in and protection of our ip ; our employees ; capital expenditures and the sufficiency of our capital resources ; unrecognized tax benefit and tax liabilities ; the impact of changes in interest rates and foreign exchange rates , as well as our plans with respect to foreign currency hedging in general ; changes in laws and regulations ; including with respect to taxes ; our plans related to and the impact of current and future litigation ; our sublease and the timing and income related thereto ; and our stock repurchase program . because forward-looking statements relate to the future , they are subject to inherent uncertainties , risks and changes in circumstances that are difficult to predict and many of which are outside of our control . actual results could differ materially from those projected in the forward-looking statements , therefore we caution you not to place undue reliance on these forward-looking statements . important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include , among others , the following : the effects of the covid-19 global pandemic on us and our business , and on the business of our suppliers and customers ; unanticipated changes in the markets in which we operate ; the effects of the current macroeconomic climate ( especially in light of the ongoing adverse effects of the covid-19 global pandemic ) ; delay in or failure to achieve adoption of or commercial demand for our products or third party products incorporating our technologies ; the inability of immersion to renew existing licensing arrangements , or enter into new licensing arrangements for our patents and other technologies on favorable terms ; the loss of a major customer ; the ability of immersion to protect and enforce our intellectual property rights ; unanticipated difficulties and challenges in developing or acquiring successful innovations and our ability to patent those innovations ; changes in patent law ; confusion as to our licensing model or agreement terms ; the ability of immersion to return to consistent profitability in the future ; the inability of immersion to retain or recruit necessary personnel ; the commencement , by others or by us , of legal or administrative action ; risks related to our international operations and other factors . any forward-looking statements made by us in this report speak only as of the date of this report , and we do not intend to update these forward-looking statements after the filing of this report , unless required to do so by applicable law . you are urged to review carefully and consider our various disclosures in this report and in our other reports publicly disclosed or filed with the sec that attempt to advise you of the risks and factors that may affect our business . critical accounting policies and estimates our discussion and analysis of our financial condition and results of operations are based upon our consolidated financial statements , which have been prepared in accordance with u.s. gaap . the preparation of these consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets , liabilities , revenues , expenses , and related disclosure of contingent assets and liabilities . on an ongoing basis , we evaluate our estimates and assumptions , including those related to revenue recognition , stock-based compensation , short-term investments , leases , income taxes and contingencies . we base our estimates and assumptions on historical experience and on various other factors that we believe to be reasonable under the circumstances , the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources . actual results may differ from these estimates and assumptions . we believe the following are our most critical accounting policies as they require our significant judgments and estimates in the preparation of our consolidated financial statements : 31 revenue recognition our revenue is primarily derived from fixed fee license agreements and per-unit royalty agreements , along with less significant revenue earned from development , services and other revenue . fixed fee license revenue in certain contracts , we grant a fixed fee license to our existing patent portfolio at the inception of the license agreement as well as rights to the portfolio as it evolves throughout the contract term . for such arrangements , we have two separate performance obligations : performance obligation a - transfer rights to our patent portfolio as it exists when the contract is executed ; performance obligation b - transfer rights to our patent portfolio as it evolves over the term of the contract , including access to new patent applications that the licensee can benefit from over the term of the contract . story_separator_special_tag the decrease in consulting and professional services fees was due to decreases in recruitment fees , accounting and audit fees and consulting and other professional fees in 2020 compared to 2019. we expect our general and administrative expenses to decrease in the future as we achieve targeted reductions in consulting and professional services , and other costs . 36 interest and other income , other expense a summary of interest and other income , other expense for the years ended december 31 , 2020 and 2019 are as follows ( in thousands ) : replace_table_token_3_th interest and other income - interest and other income consists primarily of interest income from cash and cash equivalents and short-term investments . interest and other income decreased $ 1.5 million during 2020 compared to 2019. this decrease was primarily driven by a $ 1.5 million decrease in investment income from cash equivalents and short-term investments due to lower cash equivalents and short-term investments and a decrease in interest rates in 2020 compared to 2019. other income ( expense ) , net - other income ( expense ) , net consists primarily of foreign currency translation gain ( loss ) due to exchange rate fluctuations . other income ( expense ) , net increased $ 0.6 million in 2020 compared to 2019 primarily due to a $ 0.4 million increase in net foreign currency translation gains . benefit from ( provision for ) income taxes a summary of benefit from ( provision for ) income taxes and effective tax rates for the years ended december 31 , 2020 and 2019 are as follows ( in thousands ) : replace_table_token_4_th in 2020 , we recorded a $ 2.2 million benefit from income taxes yielding an effective tax rate of ( 71.0 ) % . the 2020 income tax benefit reflects a one-time deferred tax benefit from the release of valuation allowance against the deferred tax assets of one of our foreign subsidiaries partially offset by estimated foreign income and foreign withholding taxes . based upon our assessment of the realizability of our deferred tax assets in the united states as of december 31 , 2020 , we continue to maintain a full valuation allowance against all of our federal and state deferred tax assets . as of december 31 , 2020 , we had deferred tax assets totaling $ 31.1 million and a valuation allowance of $ 28.5 million , resulting in a net deferred tax asset of $ 2.6 million . on march 27 , 2020 , the coronavirus aid , relief , and economic security act ( “ cares act ” ) was passed into law . the cares act includes several significant business tax provisions including modification to the taxable income limitation for utilization of net operating losses ( “ nols ” ) incurred in 2019 and 2020 and the ability to carry back nols from those years for a period of up to five years , an increase to the limitation on deductibility of certain business interest expense , bonus depreciation for purchases of qualified improvement property and special deductions on certain corporate charitable contributions . we analyzed the provisions of the cares act and determined there was no net effect on our provision for the year ended december 31 , 2020. on december 22 , 2017 , the tax act was passed into law . among other changes , the tax act reduced the us federal corporate income tax rate from 35 % to 21 % , required companies to pay a one-time transition tax on earnings of certain foreign subsidiaries that were previously tax deferred and created new taxes on certain foreign sourced earnings . in addition , the act introduced the base erosion and anti-abuse tax ( the “ beat ” ) , which creates a new tax on certain related-party payments . we concluded that we have not met the threshold requirements of the beat . on july 9 , 2020 , the internal revenue service issued final regulations regarding deductions for global intangible low-taxed income ( “ gilti ” ) and foreign-derived intangible income ( “ fdii ” ) . on july 9 , 2020 , the treasury department released final regulations ( `` td 9901 `` ) under irc section 250 , which allows an annual deduction to a domestic corporation for its foreign-derived intangible income ( `` fdii `` ) and global intangible low-taxed income ( `` gilti `` ) inclusion . the final guidance is not expected to have a material impact on our condensed consolidated financial statements . although the measurement period has closed , further technical guidance related to the tax 37 act , including final regulations on a broad range of topics , is expected to be issued . in accordance with asc 740 , we will recognize any effects of the guidance in the period that such guidance is issued . in 2019 , we recorded a provision for income taxes of $ 0.5 million yielding an effective tax rate of ( 2.4 ) % . the 2019 provision reflects estimated foreign taxes and foreign withholding tax expense . based upon our assessment of the realizability of our deferred tax assets as of december 31 , 2019 , we reported a full valuation allowance against all of our federal and state , and certain of our foreign net deferred tax assets . as of december 31 , 2019 , the aggregated balance of our deferred tax assets totaled $ 28.5 million with a valuation allowance of $ 28.1 million , resulting in a net deferred tax asset balance of $ 0.5 million . as described above , we continue to maintain a valuation allowance of $ 28.5 million against certain of our deferred tax assets , including all federal , state , and certain foreign deferred tax assets as a result of uncertainties regarding the realization of the asset balance due to historical losses , the variability of operating results

