Note 5 - Fair Value of Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2023

Notes Tables

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

	Level I		Level II		Level III
March 31, 2023	Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
Investments in securities, at fair value (cost $6,255,614)	$	6,408,355	$	-	$	-
W-1 Warrant and Class B Common Stock liability, at fair value		-		-		828,000
Total	$	6,408,355	$	-	$	828,000

	Level I		Level II		Level III
December 31, 2022	Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
Investments in securities, at fair value (cost $5,802,395)	$	5,860,688	$	-	$	-
W-1 Warrant and Class B Common Stock liability, at fair value		-		-		576,000
Total	$	5,860,688	$	-	$	576,000

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

W-1 Warrant and Class B Common Stock
Inputs below are as of March 31, 2023
ENDI Corp. closing stock price	$	4.35
Warrant exercise price	$	8.00
Estimated equity volatility over remaining term		40.30	%
ENDI Corp. annual rate of dividends		0.00	%
Bond equivalent yield		3.60	%
Remaining term of W-1 Warrant		4.37
Discount for lack of marketability		23.00	%
August 11, 2022	$	1,476,000
Less: Unrealized gains reported in other income		(900,000	)
December 31, 2022		576,000
Plus: Unrealized losses reported in other income		252,000
March 31, 2023	$	828,000