v3.25.1
Note 5 - Fair Value of Financial Instruments
 3 Months Ended
Mar. 31, 2025
Notes to Financial Statements  
Fair Value Disclosures [Text Block]

Note 5 - Fair Value of Financial Instruments

 

The carrying amounts of cash, accounts receivable, accounts payable, the line of credit and all other current assets and liabilities approximate fair values due to their short-term nature. The fair value of notes receivable approximates the amortized cost basis as adjusted by an allowance for credit losses as we believe the stated interest rates reflects the prevailing market rates given our unique collateral position and the scarce capital resources willing to finance a franchise. The fair value of the term loan payable approximates its carrying value because current rates for similar borrowings do not have a material impact. 

 

   

March 31, 2025

  

(in thousands)

     Total       Level 1       Level 2       Level 3  

Cash

   $ 2,087     $ 2,087     $ -     $ -  

Notes receivable

     7,488       -       7,488       -  

Accounts receivable

     42,218       -       42,218       -  

Total assets at fair value

   $ 51,793     $ 2,087     $ 49,706     $ -  
                                 

Line of credit

     5,456       -       5,456       -  

Total liabilities at fair value

   $ 5,456     $ -     $ 5,456     $ -  

 

   

December 31, 2024

  

(in thousands)

     Total       Level 1       Level 2       Level 3  

Cash

   $ 2,219     $ 2,219     $ -     $ -  

Notes receivable

     7,830       -       7,830       -  

Accounts receivable

     42,348       -       42,348       -  

Total assets at fair value

   $ 52,397     $ 2,219     $ 50,178     $ -  
                                 

Term loan payable

   $ 88     $ -     $ 88     $ -  

Line of credit

     6,829       -       6,829       -  

Total liabilities at fair value

   $ 6,917     $ -     $ 6,917     $ -