Level 1

Level 2

Level 3

(In thousands)

Assets as of December 31, 2020:

Trading securities - equity

$

109,103

$

–

$

–

Investment at fair value - warrants (Note 6)

–

2,752

–

Total recurring fair value measurements as of December 31, 2020

$

109,103

$

2,752

$

–

Assets as of December 31, 2019:

Trading securities - debt

$

–

$

93,843

$

–

Trading securities - equity

17,140

–

Investment at fair value - warrants (Note 6)

–

757

–

Investment at fair value - common stock (Note 6)

743

–

Total recurring fair value measurements as of December 31, 2019

$

17,883

$

94,600

$

–

Liabilities as of December 31, 2020:

Series A warrants

$

–

$

6,640

$

–

Series B warrants

–

52,341

Embedded derivative liability

–

26,728

Total liabilities as of December 31, 2020

$

–

$

6,640

$

79,069

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