XML 57 R42.htm IDEA: XBRL DOCUMENT
v3.20.2

Fair Value Measurements (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2020
Fair Value Disclosures [Abstract] |
Schedule of Liabilities Measured on Recurring Basis | The following table presents our assets at September 30, 2020 measured at fair value on a recurring basis:
|  |  | Fair Value Measurements at
|  |  | September 30, 2020
| Total |  | Quoted Prices in Active Markets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Assets: |  |  |  |  |  |  |
Convertible preferred shares of Tonogold (Note 3) | $ | 2,616,000 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,616,000 |
Common shares of Tonogold (Note 3) | 7,106,022 |  |  | 7,106,022 |  |  | — |  |  | — |
Tonogold note receivable (Note 3) | 6,397,497 |  |  | — |  |  | — |  |  | 6,397,497 |
Total Assets | $ | 16,119,519 |  |  | $ | 7,106,022 |  |  | $ | — |  |  | $ | 9,013,497 |
The following table presents our assets and liabilities at December 31, 2019 measured at fair value on a recurring basis:
|  |  | Fair Value Measurements at
|  |  | December 31, 2019
| Total |  | Quoted Prices in Active Markets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Assets: |  |  |  |  |  |  |
Convertible preferred shares of Tonogold (Note 3) | $ | 9,080,000 |  |  | $ | — |  |  | $ | — |  |  | $ | 9,080,000 |
Total Assets | $ | 9,080,000 |  |  | $ | — |  |  | $ | — |  |  | $ | 9,080,000 |
Liabilities: |  |  |  |  |  |  |
Accrued make-whole for Pelen LLC (Note 21) | $ | 222,602 |  |  | $ | — |  |  | $ | 222,602 |  |  | $ | — |
Accrued make-whole for Mercury Clean Up LLC (Note 22) | 452,740 |  |  | — |  |  | 452,740 |  |  | — |
Total Liabilities | $ | 675,342 |  |  | $ | — |  |  | $ | 675,342 |  |  | $ | — |
Schedule of Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation | The following tables provide reconciliation between the beginning and ending balance of investments measured at fair value on a recurring basis using significant unobservable inputs (Level 3).
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2020 |  | 2019 |  | 2020 |  | 2019
Beginning balance | $ | 10,581,334 |  |  | $ | 4,995,000 |  |  | $ | 9,080,000 |  |  | $ | — |
Total gains or losses recognized in earnings | (2,890,502) |  |  | (332,263) |  |  | (1,522,120) |  |  | (332,263) |
Additions |  |  |  |  |  |  | — |
Convertible preferred shares of Tonogold | — |  |  | 987,263 |  |  | — |  |  | 5,982,263 |
Contingent forward asset | — |  |  | — |  |  | 1,232,952 |  |  |
Tonogold note receivable | 6,141,497 |  |  | — |  |  | 6,141,497 |  |  | — |
Transfers |  |  |  |  |  |  |
Tonogold preferred shares converted to Tonogold common shares | (2,820,000) |  |  | — |  |  | (3,920,000) |  |  | — |
Contingent forward asset | (1,998,832) |  |  | — |  |  | (1,998,832) |  |  | — |
Ending balance | $ | 9,013,497 |  |  | $ | 5,650,000 |  |  | $ | 9,013,497 |  |  | $ | 5,650,000 |

X
- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=121572278&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration