Investments, Cost

3 Months Ended

Mar. 31, 2023

Investments, Cost [Abstract]

Investments, Cost

12. Investments, Cost

OpenHand

As of March 31, 2022, the Company maintained a 2% ownership interest in OpenHand Holdings, Inc. (“OpenHand”). The investment does not have a readily determinable fair value since OpenHand is a private company and its shares are not publicly traded.

As of March 31, 2023, management concluded that its investment in OpenHand was not impaired and that no additional events or changes in circumstances were identified that could have a significant effect on the original valuation of the investment. As of both March 31, 2023 and December 31, 2022, the carrying value of the Company’s investment in OpenHand was $850,000.

Refer to Note 12 – Investments, Cost in the Company’s 2022 Form 10-K for further information regarding this transaction and the corresponding accounting treatment.