XML 23 R12.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Long-Term Equity Investments
 3 Months Ended
Mar. 31, 2024
Long-Term Equity Investments [Abstract]  
Long-Term Equity Investments

Note 5. Long-Term Equity Investments

 

The Company holds interests in several privately held and publicly traded companies as long-term investments. The following table presents the Company’s long-term investments as of March 31, 2024, and December 31, 2023 ($ in thousands):

 

   Cost Basis
as of
March 31,
2024
and December 31,
2023		   March 31,
2024		   December 31,
2023		 
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    813    1,033 
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    2,626    3,500 
Investment in Tesspay**   1,240    2,981    2,679 
Investment in SpaceX*   3,500    3,500    4,867 
Investment in Databricks*   1,200    842    842 
Investment in Discord*   476    476    476 
Investment in Thrasio*   300    -    300 
Investment in Automation Anywhere*   476    476    476 
Investment in Anduril*   476    476    476 
Total  $20,922   $21,691   $24,150 

   

*Investments made in these companies are through a Special Purpose Vehicle (“SPV”). The SPV is the holder of the actual stock. The Company does not hold these stock certificates directly.

 

**Investments made in these companies are through both an SPV and direct investments.

 

Investment in SpaceX

 

The Company redeemed its entire investment in the portfolio company during April 2024 in exchange for return of cost basis of $3.5 million.

 

Investment in Unusual Machines

 

Unusual Machines, Inc, an emerging leader in first-person view (FPV) drone technology, closed its initial public offering of common stock on February 14, 2024 at a public offering price of $4 per share and the shares began trading on the NYSE American under the ticker symbol “UMAC”. As of March 31, 2024 the Company valued its investment in Unusual Machines based on UMAC’s market price.