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NOTE 5 – CUSTOMER FUNDS AND INVESTMENTS

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The Company has invested certain customer funds in available-for-sale debt securities and term deposits. The following table summarizes the assets underlying customer funds as of June 30, 2025 and December 31, 2024:

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As of June 30, 2025, the estimated fair value of the available-for-sale debt securities included $7,362 in unrealized gains and $54 in unrealized losses, net of tax. The gross unrealized losses of $69 related to assets with a fair value of $176,174, which had been in a continuous unrealized loss position for less than 12 months.

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Unrealized losses have not been recognized into income as the Company neither intends to sell, nor anticipates that it is more likely than not that it will be required to sell, the securities before recovery of their amortized cost basis. The decline in fair value is due to changes in market interest rates, rather than credit losses. The Company will continue to monitor the performance of the investment portfolio and assess whether impairment due to expected credit losses has occurred.

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During the period ended June 30, 2025, the Company did not sell any available-for-sale debt securities or incur any realized gains or losses.

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As of June 30, 2025, $346,405 of the Company’s available-for-sale debt securities were due to mature within one year or less, and $933,369 were due to mature between one and five years.