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Note 2 - Cash, Cash Equivalents, and Investments

3 Months Ended

Mar. 31, 2025

Cash, Cash Equivalent, and Marketable Security [Text Block]

Note 2: Cash, Cash Equivalents, and Investments

The Company’s investments in debt securities are classified as held-to-maturity and are recorded at amortized cost, net of allowance for credit losses, and its investments in money market funds are classified as available-for-sale securities and presented as cash equivalents on the consolidated balance sheets. The following table shows the Company’s cash, available-for-sale securities, and investment securities by major security type as of March 31, 2025, and December 31, 2024:

	*March 31, 2025 (Unaudited)*
					*Allowance*		*Gross*		*Gross*
	*Level*				*for*		*Unrealized*		*Unrealized*
	*(1)*		*Fair Value*		*Credit Losses*		*Holding Gains*		*Holding Losses*			*Adjusted Cost*
Cash and Cash Equivalents
Cash			$	1,542,566	$	—	$	—	$	—		$	1,542,566
Money Market Funds ⁽²⁾		1		3,522,375		—		—		—			3,522,375
Subtotal				5,064,941		—		—		—			5,064,941
Short-Term Investment Securities⁽³⁾
Corporate Bonds ⁽⁴⁾⁽⁵⁾		2		2,284,090		—		—		(382	)		2,284,472
Total			$	7,349,031	$	—	$	—	$	(382	)	$	7,349,413

	*December 31, 2024 (Audited)*
					*Allowance*		*Gross*		*Gross*
	*Level*				*for*		*Unrealized*		*Unrealized*
	*(1)*		*Fair Value*		*Credit Losses*		*Holding Gains*		*Holding Losses*			*Adjusted Cost*
Cash and Cash Equivalents
Cash			$	926,287	$	—	$	—	$	—		$	926,287
Money Market Funds ⁽²⁾		1		5,580,463		—		—		—			5,580,463
Subtotal				6,506,750		—		—		—			6,506,750
Short-Term Investment Securities⁽³⁾
Corporate Bonds ⁽⁴⁾⁽⁵⁾		2		2,756,428		—		—		(149	)		2,756,577
Total			$	9,263,178	$	—	$	—	$	(149	)	$	9,263,327

_________________

Notes:

(1) Definition of the three-level fair value hierarchy:

•

Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities

•

Level 2 - Other inputs that are directly or indirectly observable in the markets

•

Level 3 - Inputs that are generally unobservable

(2) All our money market funds were invested in U.S. Government money market funds.

(3) Short-term investment securities will mature within 12 months or less, from the applicable reporting date.

(4) For the three months ended March 31, 2025 and 2024, the Company received discounts of $6,104 and $1,547 to purchase held-to-maturity investment securities, respectively. For the year ended December 31, 2024, the Company received discounts of $78,770 to purchase held-to-maturity investment securities.

(5) The Company considers the decline in market value of its investment portfolio to be temporary in nature. As of March 31, 2025 and December 31, 2024, the Company did not consider any of its investments to be other-than-temporarily impaired and no allowance for credit losses was recorded.