Note 7 - Investments in Equity Securities

3 Months Ended

Mar. 31, 2024

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 valued based on quoted stock prices in active markets, thus Level 1 in the fair value hierarchy.

As of March 31, 2024, the Company held common stock of a single company, publicly traded on the New York Stock Exchange, with a fair value of $411,599. All changes in fair value are recognized in net income at the end of each reporting period. At December 31, 2023, the fair value was $665,301. The decrease during the first quarter of 2024 was a result of a decline in share price as well as the Company selling shares for proceeds of $135,625.

As of March 31, 2023, the fair value was $598,938. At December 31, 2022, the fair value was $657,971. The decrease during the first quarter of 2023 was exclusively a result of a decline in share price. No shares were purchased or sold in 2023.