XML 44 R22.htm IDEA: XBRL DOCUMENT v3.20.1
2. Summary of Significant Accounting Policies (Tables)
3 Months Ended
Mar. 31, 2020
Accounting Policies [Abstract]  
Disaggregation of revenue
   Three Months Ended 
   March 31, 
   2020   2019 
   (In thousands) 
Paid-up Revenue Agreements  $3,300   $ 
Recurring Revenue Agreements   515    3,387 
Total Revenue  $3,815   $3,387 
Gain (loss) on trading securities
   Cost   Gross
Unrealized
Gain
   Gross
Unrealized
Loss
   Fair Value 
   (In thousands) 
Security Type                    
March 31, 2020:                    
Trading securities - debt  $89,322   $24   $(383)  $88,963 
Trading securities - equity   16,616    96    (6,242)   10,470 
   $105,938   $120   $(6,625)  $99,433 
                     
December 31, 2019:                    
Trading securities - debt  $93,712   $143   $(12)  $93,843 
Trading securities - equity   17,674    211    (745)   17,140 
   $111,386   $354   $(757)  $110,983 
Schedule of fair value of financial assets and liabilities on a recurring basis
             
   Level 1   Level 2   Level 3 
         (In thousands)      
Assets as of March 31, 2020:               
Trading securities - debt  $   $88,963   $ 
Trading securities - equity   10,470         
Investment at fair value - warrants (Note 5)       1,387     
Total recurring fair value measurements as of March 31, 2020  $10,470   $90,350   $ 
                
Assets as of December 31, 2019:               
Trading securities - debt  $   $93,843   $ 
Trading securities - equity   17,140         
Investment at fair value - warrants (Note 5)       757     
Investment at fair value - common stock (Note 5)   743         
Total recurring fair value measurements as of December 31, 2019  $17,883   $94,600   $ 
                
Liabilities as of March 31, 2020:               
Profits interest units  $   $591   $ 
Series A warrants       2,610     
Series B warrants           6,231 
Embedded derivative liability           21,682 
Total liabilities as of March 31, 2020  $   $3,201   $27,913 
                
Liabilities as of December 31, 2019:               
Profits interest units  $   $591   $ 
Series A warrants       3,568     
Embedded derivative liability           17,974 
Total liabilities as of December 31, 2019  $   $4,159   $17,974 
Summary of changes in finacial liability Level 3
    Series A Preferred Stock Embedded Derivative Liability    Series B Warrants Liability 
    (In thousands) 
           
Opening balance as of December 31, 2019  $17,974   $ 
Issuance of Series B warrants       4,600 
Remeasurement to fair value   3,708    1,631 
Balance as of March 31, 2020  $21,682   $6,231