Financial Instruments

3 Months Ended

Mar. 31, 2022

Investments, All Other Investments [Abstract]

Financial Instruments

4. Financial Instruments

Cash, Cash Equivalents, Restricted Cash and Marketable Securities

The following tables show the Company’s cash, cash equivalents, restricted cash, and marketable securities by significant investment category as of March 31, 2022, and December 31, 2021:

	2022
	Adjusted Cost		Unrealized Gain/(Loss)		Fair Value		Cash and Cash Equivalents		Marketable Securities		Investments
Cash	$	48,799,000	$	-	$	48,799,000	$	48,799,000	$	-	$	-
Level 1
Money Market Funds		5,012,000		-		5,012,000		5,012,000		-		-
Marketable Securities		15,865,000		2,570,000		18,435,000		-		18,435,000		-
Level 2
Warrants		3,318,000		-		3,318,000		-		-		3,318,000
Convertible securities		1,023,000		357,000		1,380,000		-		-		1,380,000
Total	$	74,017,000	$	2,927,000	$	76,944,000	$	53,811,000	$	18,435,000	$	4,698,000

	2021
	Adjusted Cost		Unrealized Gain/(Loss)		Fair Value		Cash and Cash Equivalents		Marketable Securities		Investments
Cash	$	50,286,000	$	-	$	50,286,000	$	50,286,000	$	-	$	-
Level 1
Money Market Funds	$	6,309,000		-		6,309,000		6,309,000		-		-
Marketable Securities	$	12,993,000		1,544,000		14,537,000		-		14,537,000		-
Level 2
Warrants	$	3,318,000		-		3,318,000		-		-		3,318,000
Convertible securities	$	1,023,000		-		1,023,000		-		-		1,023,000
Total	$	73,929,000	$	1,544,000	$	75,473,000	$	56,595,000	$	14,537,000	$	4,341,000

The Company typically invests with the primary objective of minimizing the potential risk of principal loss. The Company’s investment policy generally requires securities to be investment grade and limits the amount of credit exposure to any one issuer. Fair values were determined for each individual security in the investment portfolio.