Note 7 - Investments in Equity Securities

9 Months Ended

Sep. 30, 2021

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 are summarized in the table below:

	September 30, 2021		December 31, 2020
Fair value of equity securities	$	1,145,390	$	1,534,400
Cost basis		826,224		949,293
Unrealized gain on equity securities	$	319,166	$	585,107

Unrealized gains were $0 in the first nine months of 2021 compared to $0 in the same period of last year. Unrealized losses were $265,941 in the first nine months of 2021 compared to $28,093 in the same period of last year. Realized gains were $152,748 in the first nine months of 2021 compared to $0 in the same period of last year. Realized losses were $0 in the first nine months of 2021 compared to $0 in the same period of last year.

Investments by fair value level in the hierarchy as of September 30, 2021 and 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 as of September 30, 2021	$	1,145,390	$	-	$	-	$	1,145,390
Common stock as of December 31, 2020	$	1,534,400	$	-	$	-	$	1,534,400