Note 7 - Investments in Equity Securities

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

7.

 

INVESTMENTS IN EQUITY SECURITIES

Investments in equity securities as of

December 31, 2020

are summarized in the table below:

	2020
	Cost		Market
Stock	$	949,293	$	1,534,400
Less cost				949,293
Gross unrealized gains on equity securities				585,107
Deferred income taxes				146,736
Net unrealized gains on equity securities			$	438,371

There were

no

investments held by the Company as of

December 31, 2019.

Investments by fair value level in the hierarchy as of

December 31, 2020

are as follows:

	Quoted Market Prices in Attractive Markets (Level 1)		Models with Significant Observable Market Parameters (Level 2)		Unobservable Inputs that are not Corroborated by Market Data (Level 3)		Total Carrying Value in the Balance Sheet
Common stock	$	1,534,400	$	-	$	-	$	1,534,400