Note 3 - Investments

12 Months Ended

Dec. 31, 2014

Investments, Debt and Equity Securities [Abstract]

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

3.      Investments

As of December 31, 2014, investments totaled $2,840,000 which consisted of marketable securities. As of December 31, 2013, investments totaled $1,606,000 which consisted of marketable securities of $1,256,000 and common stock warrants of $350,000.

The following provides information regarding the Company’s marketable securities as of December 31, 2014 and 2013:

	December 31,
	2014		2013
Cost basis	$	327,000	$	255,000
Gains previously recognized on warrants		380,000		-
Gains included in accumulated other comprehensive income		2,133,000		1,001,000
Fair value	$	2,840,000	$	1,256,000

Marketable securities were sold during the year ended December 31, 2014, which resulted in $440,000 of proceeds and realized gains included in earnings of $379,000, $245,000 net of tax compared to no marketable securities being sold for the year ended December 31, 2013. The change in unrealized gains of $995,000 and $601,000 in the statements of comprehensive income are presented net of tax. Taxes on the unrealized gains were $536,000 and $361,000, respectively, in 2014 and 2013.

The Company held warrants to purchase common stock in an entity that were exercisable up to 167,500 shares of the entity. During 2014, all warrants were exercised. The following provides information regarding the Company’s investment in common stock warrants during the years ended December 31, 2014 and 2013:

	December 31,
	2014			2013
Beginning balance	$	350,000		$	-
Fair value change in common stock warrants		30,000			350,000
Fair value of warrants exercised		(380,000	)		-
Ending balance	$	-		$	350,000