XML 20 R9.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Fair Value Measurements | 9 Months Ended
--- | ---
Sep. 30, 2022
Fair Value Disclosures [Abstract] |
Fair Value Measurements | Fair Value Measurements The carrying amounts reported in the balance sheet for cash and cash equivalents, accounts receivable, accounts payable and accrued expenses approximate fair value based on the short-term nature of these items. In accordance with accounting principles generally accepted in the United States, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three-level hierarchy prioritizes the inputs used to measure fair value as follows: Level 1 – Valuation is based on quoted prices in active markets for identical assets or liabilities. Level 1 assets and liabilities generally include debt and equity securities that are traded in an active exchange market. Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities. Level 2 – Valuation is based on observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 – Valuation is based on unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. The following table summarizes our cash equivalents and marketable securities measured at fair value. Certain marketable securities consist of investments in debt and equity securities. We classify our cash equivalents and marketable securities within Level 1 because we use observable inputs that reflect quoted market prices for identical assets in active markets to determine their fair value. We have classified debt securities as available for sale securities with unrealized gains and losses recorded as other comprehensive income. We have classified equity securities as trading and are marked to market with changes recorded as other income on the income statement. Any interest income or dividends are recorded within financing expense, net on the income statement.
| Investment Assets at Fair Value |  | Investment Assets at Fair Value
| As of September 30, 2022 |  | As of December 31, 2021
| Level 1 |  | Total |  | Level 1 |  | Total
Debt securities | $ | 888,928 |  |  | $ | 888,928 |  |  | $ | 959,207 |  |  | $ | 959,207 |
Equity securities | $ | 1,601,669 |  |  | $ | 1,601,669 |  |  | $ | 1,828,284 |  |  | $ | 1,828,284 |
Cash equivalents | $ | 1,756,382 |  |  | $ | 1,756,382 |  |  | $ | 5,222,759 |  |  | $ | 5,222,759 |
Total Investments at Fair Value | $ | 4,246,979 |  |  | $ | 4,246,979 |  |  | $ | 8,010,250 |  |  | $ | 8,010,250 |
The cost, gross unrealized gains (losses) and fair value of marketable securities by major security type were as follows:
| As of September 30, 2022 |  | As of December 31, 2022
| Cost |  | Unrealized Gain (Loss) |  | Fair Value |  | Cost |  | Unrealized Gain (Loss) |  | Fair Value
Marketable securities |  |  |  |  |  |  |  |  |  |  |
Debt securities | $ | 1,021,430 |  |  | $ | (132,502) |  |  | $ | 888,928 |  |  | $ | 905,470 |  |  | $ | 53,737 |  |  | $ | 959,207 |
Equity securities | 2,216,621 |  |  | (614,952) |  |  | 1,601,669 |  |  | 2,100,305 |  |  | (272,021) |  |  | 1,828,284 |
Total marketable securities |  |  |  |  | $ | 2,490,597 |  |  |  |  |  |  | $ | 2,787,491 |

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

X
- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration