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INVESTMENT IN AVAILABLE FOR SALE MARKETABLE SECURITIES
 9 Months Ended
Sep. 30, 2025
Investments, Debt and Equity Securities [Abstract]  
INVESTMENT IN AVAILABLE FOR SALE MARKETABLE SECURITIES

NOTE 4 - INVESTMENT IN AVAILABLE FOR SALE MARKETABLE SECURITIES

 

The Company’s investments in marketable equity securities, primarily shares of Futuris (FTRS), are held for an indefinite period. Under US GAAP, these equity securities are measured at fair value, with changes in fair value recognized in net income. Although FTRS is a publicly traded security, the Company cannot guarantee immediate liquidity or execution at quoted market prices. Factors such as limited trading volume, market volatility, and prevailing bid-ask spreads may affect the ability to sell shares promptly and at expected prices.

 

The cost basis of securities held as of September 30, 2025, and December 31, 2024, was $552,527, while accumulated unrealized losses were $483,545 and $410,252, respectively. The fair value of these equity securities was $30,907 and $142,275 as of September 30, 2025, and December 31, 2024, respectively.

 

The reconciliation of the investment in equity securities for the nine months ended September 30, 2025, and 2024, is as follows:

           
   

September 30,

2025

    

September 30,

2024

  
Beginning Balance – January 1   $ 142,275     $ 382,144  
Additions     –       –  
Recognized losses     (111,368 )     (246,532 )
Ending Balance – September 30   $ 30,907     $ 135,612  

 

Net losses on equity investments were as follows:

          
   Nine Months Ended 
   September 30, 
   2025   2024 
Net cumulative realized losses on investment sold or assigned  $–   $– 
Net cumulative unrealized losses on investments still held   111,368    246,532 
Total  $111,368   $246,532 

 

Net cumulative realized and unrealized gains or losses on these equity securities are recognized in net income. Realized losses on investments sold or assigned were $0 for both periods. Unrealized losses on investments still held were $111,368 and $246,532 for the nine months ended September 30, 2025, and 2024, respectively. These gains and losses are presented in the statements of operations.