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Note 5 - Fair Value Measurement
 6 Months Ended
Jun. 30, 2024
Notes to Financial Statements  
Fair Value Disclosures [Text Block]

Note 5 - Fair Value Measurement

 

The carrying amounts of cash, accounts receivable, accounts payable, the line of credit and all other current assets and liabilities approximate fair values due to their short-term nature. The fair value of notes receivable approximates the amortized cost basis as adjusted by an allowance for credit losses as we believe the stated interest rates reflects the prevailing market rates given our unique collateral position and the scarce capital resources willing to finance a franchise. The fair value of the term loan payable approximates its carrying value because current rates for similar borrowings do not have a material impact. 

 

  

June 30, 2024

 

(in thousands)

  Total   Level 1   Level 2   Level 3 

Cash

 $614  $614  $-  $- 

Notes receivable

  8,822   -   8,822   - 

Accounts receivable

  49,878   -   49,878   - 

Total assets at fair value

 $59,314  $614  $58,700  $- 
                 

Term loans payable

 $348  $-  $348  $- 

Line of credit

  15,700   -   15,700   - 

Total liabilities at fair value

 $16,048  $-  $16,048  $- 

 

  

December 31, 2023

 

(in thousands)

  Total   Level 1   Level 2   Level 3 

Cash

 $1,342  $1,342  $-  $- 

Notes receivable

  9,622   -   9,622   - 

Accounts receivable

  44,394   -   44,394   - 

Total assets at fair value

 $55,358  $1,342  $54,016  $- 
                 

Term loan payable

 $646  $-  $646  $- 

Line of credit

  14,119   -   14,119   - 

Total liabilities at fair value

 $14,765  $-  $14,765  $-