Note 4 - Investments

3 Months Ended

Mar. 31, 2024

Notes to Financial Statements

Investment [Text Block]

4. INVESTMENTS

We hold a 26.5 percent ownership interest in a privately held identity and professional services company with ties to the FinTech industry. The carrying value of our investment was $3,668,000 at March 31, 2024, included in investments on the Consolidated Balance Sheets. We account for our investment using the equity method of accounting which resulted in losses of $239,000 and $295,000 for the three months ended March 31, 2024 and 2023, respectively, included in investment income (loss) on the Consolidated Statement of Operations. We evaluate on a continuing basis whether any impairment indicators are present that would require additional analysis or write-downs of the investment. While we have not recorded an impairment related to this investment as of March 31, 2024, variations from current expectations could result in future impairment charges. At March 31, 2024, the carrying value of this investment exceeded our share of the investee’s net asset assets by approximately $2.8 million. Substantially all of this difference is comprised of goodwill and other intangible assets.