CUSTOMER FUNDS AND INVESTMENTS

9 Months Ended

Sep. 30, 2025

CUSTOMER FUNDS AND INVESTMENTS

CUSTOMER FUNDS AND INVESTMENTS

NOTE 5 – CUSTOMER FUNDS AND INVESTMENTS

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 September 30, 2025 and December 31, 2024:

	September 30,		December 31,
	2025		2024
Cash and cash equivalents	$	5,310,087	$	5,189,216
Available-for-sale debt securities		1,287,825		1,174,937
Term deposits		175,000		75,000
Total current customer funds	$	6,772,912	$	6,439,153
Term deposits		350,000		525,000
Total non-current customer funds	$	350,000	$	525,000
Total customer funds	$	7,122,912	$	6,964,153

As of September 30, 2025, the estimated fair value of the available-for-sale debt securities included $8,126 in unrealized gains and $126 in unrealized losses, net of tax. The gross unrealized losses of $161 related to assets with a fair value of $70,543 which had been in a continuous unrealized loss position for less than 12 months.

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.

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

As of September 30, 2025, $349,942 of the Company’s available-for-sale debt securities were due to mature within one year or less, and $937,883 were due to mature between one and five years.