v3.26.1
Note 4 - Investments in Debt Securities
6 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Investment in Debt and Equity Securities and Other Trading Assets [Text Block]

4. INVESTMENTS IN DEBT SECURITIES

 

The following table sets forth amortized cost fair value, and unrealized gains (losses) of investments in debt securities (short-term and long-term):

 

   

Amortized Cost

  

Fair Value

 
   

June 30,

  

December 31,

  

June 30,

  

December 31,

 
 

Longest Maturity Date

 

2026

  

2025

  

2026

  

2025

 
                  

U.S. government and agency securities

2029

  7,743   9,254   7,822   9,402 

Corporate bonds

2031

  2,716   3,062   2,759   3,121 
    10,459   12,316   10,581   12,523 

 

Income from these investments totaled $35 and $45 during the three and six months ended  June 30, 2026, respectively, and $5 and $68 during the three and six months ended  June 30, 2025, respectively. Such amounts are included as a portion of interest and investment income on the Company’s consolidated statements of operations.

 

Based on the Company’s review of its debt securities that are individually in an unrealized loss position at  June 30, 2026, it was determined that the losses were primarily the result current economic factors, impacting all global debt and equity markets, that are the result of global macro events. The impact of the Company’s investment portfolio is considered to be temporary, rather than a deterioration of overall credit quality. As of  June 30, 2026, all investments are current on their scheduled interest and dividend payments. The Company does not intend to sell and it is not likely that the Company will be required to sell these securities prior to recovering their amortized cost. Accordingly, the Company concluded that no allowance for credit losses was required on its available-for-sale debt securities as of June 30, 2026.

 

Investment in debt securities activities consisted of the following:

 

  

Six Months Ended June 30,

 
  

2026

  

2025

 
         

Investment in debt securities – beginning balance

 $12,523  $16,330 

Purchases

  570   4,927 

Sales at cost

  (2,460)  (5,118)

Realized gain from sale of investment in debt securities

  45   68 

Interest and dividend income

  272   341 

Unrealized gain

  169   172 

Professional management fees and other fees

  (19)  (24)

Withdrawals from debt securities

  (519)  (484)

Investment in debt securities – ending balance

  10,581   16,212 

Less – current portion

  (6,511)  (7,945)

Investment in debt securities – non-current

 $4,070  $8,267