2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2020

Accounting Policies [Abstract]

Disaggregation of revenue

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2020		2019		2020		2019
	(In thousands)
Paid-up Revenue Agreements	$	1,792	$	4,864	$	5,092	$	4,864
Recurring Revenue Agreements		326		596		841		3,983
Total Revenue	$	2,118	$	5,460	$	5,933	$	8,847

Gain (loss) on trading securities

	Cost		Gross Unrealized Gain		Gross Unrealized Loss			Fair Value
	(In thousands)
Security Type
June 30, 2020:
Trading securities - equity		22,539		1,914		(4,756	)		19,697
	$	22,539	$	1,914	$	(4,756	)	$	19,697
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 June 30, 2020:
Trading securities - equity	$	19,697	$	–	$	–
Equity securities derivative		7,369		–		–
Investment at fair value - warrants (Note 5)		–		4,063		–
Total recurring fair value measurements as of June 30, 2020	$	27,066	$	4,063	$	–
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 June 30, 2020:
Series A warrants	$	–	$	6,952	$	–
Series B warrants		–		–		58,290
Embedded derivative liability		–		–		29,513
Total liabilities as of June 30, 2020	$	–	$	6,952	$	87,803
Liabilities as of December 31, 2019:
Series A warrants	$	–	$	3,568	$	–
Embedded derivative liability		–		–		17,974
Total liabilities as of December 31, 2019	$	–	$	3,568	$	17,974

Summary of changes in financial 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		11,539		53,690
Balance as of June 30, 2020	$	29,513	$	58,290