Note 3 - Investments

12 Months Ended

Dec. 31, 2015

Notes to Financial Statements

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

3. Investments

As of December 31, 2015, investments totaled $656,000, which consisted of marketable securities. As of December 31, 2014, investments totaled $2,840,000, which consisted of marketable securities.

The following provides information regarding the Company’s marketable securities as of December 31, 2015 and 2014:

	December 31,
	2015			2014
Cost basis	$	502,000		$	327,000
Gain previously recognized on warrants		380,000			380,000
Gain (loss) included in accumulated other comprehensive income (loss)		(226,000	)		2,133,000
Fair value	$	656,000		$	2,840,000

No marketable securities were sold during the year ended December 31, 2015. The change in unrealized loss of $1,523,000 and unrealized gain of $995,000 in the statements of comprehensive income (loss) are presented net of tax for the years ended December 31, 2015 and 2014, respectively. The tax benefit on the unrealized loss was $835,000, and the tax expense on unrealized gain was $382,000, in 2015 and 2014, respectively.

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, 2015 and 2014:

	December 31,
	2015		2014
Beginning balance	$	-	$	350,000
Fair value change in common stock warrants (1)		-		30,000
Fair value of warrants exercised		-		(380,000	)
Ending balance	$	-	$	-

(1) Amounts are recognized in other income on the accompanying consolidated statement of income