Financial Instruments

12 Months Ended

Dec. 31, 2023

Investments, All Other Investments [Abstract]

Financial Instruments

6. FINANCIAL INSTRUMENTS

Cash, Cash Equivalents and Marketable Securities

The following tables show the Company’s cash and marketable securities by significant investment category as of December 31:

	2023
	Cost		Unrealized Gain/Loss			Fair Value		Cash And Cash Equivalents		Marketable Securities
Cash	$	6,545,000	$	-		$	6,545,000	$	6,545,000	$	-
Level 1
Money Market Funds		70,000		-			70,000		70,000		-
Marketable Securities		27,304,000		(17,325,000	)		9,979,000		-		9,979,000
Total	$	33,919,000	$	(17,325,000	)	$	16,594,000	$	6,615,000	$	9,979,000

	2022
	Cost		Unrealized Gain/(Loss)			Fair Value		Cash and Cash Equivalents		Marketable Securities		Investment
Cash	$	19,226,000	$	-		$	19,226,000	$	19,226,000	$	-	$	-
Level 1
Money Market Funds		64,000		-			64,000		64,000		-		-
Marketable Securities		45,283,000		(17,976,000	)		27,307,000		-		27,307,000		-
Level 2
Warrants		3,318,000		-			3,318,000		-		-		3,318,000
Convertible securities		1,023,000		-			1,023,000		-		-		1,023,000
Total	$	68,914,000	$	(17,976,000	)	$	50,938,000	$	19,290,000	$	27,307,000	$	4,341,000

The following tables shows the Company’s net unrealized (loss) gain recognized during the year on marketable securities still held as of December 31:

	2023			2022
Net gains (losses) recognized during the year on marketable securities	$	(5,521,000	)	$	(2,757,000	)
Less: Net gains (losses) realized during the year on marketable securities sold during the period		(1,973,000	)		1,077,000
Net unrealized gain (loss) recognized during the reporting year on marketable securities still held at the reporting date	$	(3,548,000	)	$	(3,834,000	)

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.