Marketable Securities and Fair Value Measurements

6 Months Ended

Jun. 30, 2026

Marketable Securities and Fair Value Measurements [Abstract]

Marketable Securities and Fair Value Measurements

4.	Marketable Securities and Fair Value Measurements

Marketable Securities

The following is a summary of the Company’s available for sale securities:

	As of June 30, 2026
	Adjusted Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Marketable Securities:
Equity securities:
Preferred Equity Securities	$	510	$	4	$	-		$	514
Mutual Funds		5,007		-		-			5,007
		5,517		4		-			5,521
Debt securities:
Corporate Bonds		746		-		(92	)		654
Total	$	6,263	$	4	$	(92	)	$	6,175

	As of December 31, 2025
	Adjusted Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Marketable Securities:
Equity securities:
Preferred Equity Securities	$	510	$	15	$	-		$	525
Mutual Funds		4,918		-		-			4,918
		5,428		15		-			5,443
Debt securities:
Corporate Bonds		746		-		(107	)		639
Total	$	6,174	$	15	$	(107	)	$	6,082

As of June 30, 2026, the Company has not recognized an allowance for expected credit losses related to its available-for-sale debt securities as the Company has not identified any unrealized losses for these investments attributable to credit factors. The Company’s unrealized loss on investments in corporate bonds was primarily caused by higher market interest rates. The Company does not intend to sell the investment and it is not more likely than not that the Company will be required to sell the investment before recovery of its amortized cost basis.

Fair Value Measurements

Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs.

The standard describes a fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value:

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Level 1 – Quoted prices in active markets for identical assets or liabilities.

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Level 2 – Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

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Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

The Company’s mutual funds were classified as Level 1 assets and the Company’s preferred equity securities and corporate bonds were classified as Level 2 assets.

The fair values of the Company’s investments in mutual funds are measured using quoted prices in active markets for identical assets and its preferred equity securities and corporate bonds are measured using readily available quoted prices for these securities; however, the markets for these securities are not active.

The following table summarizes the estimated fair value of our investments in marketable debt securities with stated contractual maturity dates, accounted for as available-for-sale securities and classified by the contractual maturity date of the securities:

	As of June 30, 2026
Due in 1 year	$	-
Due in 1 year through 5 years		-
Due in 5 year through 10 years		-
Due after 10 years		654
Total	$	654

The Company did not have any other significant financial assets or liabilities, which would require revised valuations that are recognized at fair value.