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Note 13 - Fair Value Measurements
 12 Months Ended
Dec. 31, 2024
Notes to Financial Statements  
Fair Value Disclosures [Text Block]

13.

Fair Value Measurements

 

The following tables present the fair value hierarchy for those assets or liabilities measured at fair value on a recurring basis:

 

   

Fair Value as of December 31, 2024

  

Assets (Liabilities) (in thousands)

  

Level 1

    

Level 2

    

Level 3

    

Total

  

Interest rate swap agreement

   $ -     $ (99 )   $ -     $ (99 )

 

   

Fair Value as of December 31, 2023

  
   

Level 1

    

Level 2

    

Level 3

    

Total

  

Equity securities - common stock

   $ 3,511     $ -     $ -     $ 3,511  

Interest rate swap agreement

   $ -     $ (199 )   $ -     $ (199 )

 

The Company uses the market approach technique to value its financial assets and liabilities. The Company’s financial assets and liabilities carried at fair value include, when applicable, investments in common stock and derivative instruments used to hedge the Company’s interest rate risks. The fair value of the Company’s interest rate swap agreement was based on SOFR-yield curves at the reporting date. The fair value of the Company’s investment in common stock of Harvard Apparatus Regenerative Technologies (“HRGN” formerly known as Biostage, Inc.) was based on the closing price as quoted on the OTCQB Marketplace at the reporting date.