Long-Term Investments

9 Months Ended

Sep. 30, 2023

Long-Term Investments [Abstract]

Long-Term Investments

Note 7. Long-Term Investments

The Company holds interests in several privately held companies as long-term investments that the Company perceives as potential IPO candidates. The following table presents the Company’s long-term investments as of September 30, 2023, and December 31, 2022 ($ in thousands):

	Cost Basis		September 30, 2023		December 31, 2022
Investment in Kerna Health Inc	$	2,140	$	4,940	$	4,940
Investment in Kaya Now		1,500		-		-
Investment in Tevva Motors		1,972		2,794		2,794
Investment in ASP Isotopes		1,300		-		-
Investment in Unusual Machines		1,075		1,033		1,000
Investment in Qxpress		1,000		1,000		1,000
Investment in Masterclass		170		170		170
Investment in Kraken		597		597		597
Investment in Epic Games		3,500		3,500		3,500
Investment in Tesspay		1,240		2,500		2,500
Investment in SpaceX		3,500		3,674		3,674
Investment in Databricks		1,200		760		1,200
Investment in Discord		476		476		476
Investment in Thrasio		300		300		300
Investment in Automation Anywhere		476		476		476
Investment in Anduril		476		476		476
Total	$	20,922	$	22,696	$	23,103

Investment in Unusual Machines, Inc.

On November 22, 2021, the Company entered into an agreement (the “AerocarveUS Agreement”) with AerocarveUS Corporation, (“AerocarveUS”). Under the AerocarveUS Agreement, the Company agreed to purchase 250,000 shares of common stock of AerocarveUS for $1.0 million. AerocarveUS changed its name to “Unusual Machines, Inc.” on July 5, 2022. In March of 2023, the Company was issued an additional 64,377 shares at no cost. In June 2023, the Company purchased an additional 150,000 shares of common stock for approximately $0.08 million. On July 10, 2023, Unusual Machines, Inc. effected a reverse stock split pursuant to which each two shares of common stock of the Corporation issued and outstanding was combined and reclassified into one share of common stock of the Corporation. The investment in Unusual Machines, Inc. was valued at approximately $1.0 million as of September 30, 2023.