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Marketable Securities
 9 Months Ended
Sep. 30, 2024
Cash and Cash Equivalents [Abstract]  
Marketable Securities

Note 7. Marketable Securities

 

At September 30, 2024, marketable securities consisted of the following:

 

   Amortized   Unrealized   Unrealized   Aggregate 
   Cost   Gains   Losses   Fair Value 
Government & Agency Securities  $10,271,625   $7,999   $(8,025)  $10,271,599 
Corporate Bonds   3,884,331    4,750    (3,307)   3,885,774 
Marketable Securities – Debt   14,155,956    12,749    (11,332)   14,157,373 
                     
Mutual Funds – Fixed Income   4,002,704    -    (194,354)   3,808,350 
Mutual Funds – Alternative Investments   2,015,467    -    (133,717)   1,881,750 
Common Stock (a)   -    103,473    -    103,473 
Marketable Securities – Equity   6,018,171    103,473    (328,071)   5,793,573 
   $20,174,127   $116,222   $(339,403)  $19,950,946 

 

(a)In May 2021, the Company received shares of common stock in Actuate as discussed in Note 4. The shares did not have a readily determinable value until Actuate’s IPO on August 13, 2024.

 

The contractual maturities of the investments classified as Government & Agency Securities and Corporate Bonds are as follows:

 

   As of 
   September 30,
2024		 
Due within one year  $14,157,373 

 

 

The following table presents gross unrealized losses and fair values for those marketable securities that were in an unrealized loss position as of September 30, 2024, aggregated by investment category and the length of time that individual securities have been in a continuous loss position:

 

   Fair
Value		   Unrealized
Loss		   Fair
Value		   Unrealized
Loss		 
   As of September 30, 2024 
   Less than 12 months   More than 12 months 
   Fair
Value		   Unrealized
Loss		   Fair
Value		   Unrealized
Loss		 
Government & Agency Securities  $492,980   $(45)  $1,288,299   $(7,980)
Corporate Bonds   299,154    (277)   544,354    (3,030)
Mutual Funds – Fixed Income   -    -    3,808,350    (194,354)
Mutual Funds – Alternative Investments   -    -    1,881,750    (133,717)
   $792,134   $(322)  $7,522,753   $(339,081)

 

We do not believe the unrealized losses represent credit losses based on our evaluation of available evidence as of September 30, 2024, which includes an assessment of whether it is more likely than not we will be required to sell the investment before recovery of the investment’s amortized cost basis.