Quarterly report [Sections 13 or 15(d)]

Investments in Marketable Equity Securities

v3.25.3
Investments in Marketable Equity Securities
 9 Months Ended
Sep. 30, 2025
Investments In Equity Securities [Abstract]  
INVESTMENTS IN MARKETABLE EQUITY SECURITIES

NOTE 3 – INVESTMENTS IN MARKETABLE EQUITY SECURITIES

 

Investments in marketable equity securities consist of publicly traded common stock and warrants exercisable for publicly traded common stock. Our investments in marketable equity securities are concentrated in three publicly traded companies, representing 32%, 32%, and 36% of total investments in equity securities as of September 30, 2025. As of September 30, 2025, our beneficial ownership in each of the three publicly traded companies is less than 5%. The Company classifies its warrants within Level 3 in the fair value hierarchy because it uses unobservable inputs related to volatility to determine fair value. There were no transfers between Level 1 and Level 3 during the nine months ended September 30, 2025. The following table summarize the Company’s investments in marketable equity securities:

 

    As of September 30, 2025  
    Fair Value
Hierarchy		   Cost Basis     Gross
Unrealized
Gains		     Fair Value  
Publicly traded stock   Level 1   $ 10,294,137     $ 5,345,576     $ 15,639,713  
Warrants exercisable for publicly traded stock
  Level 3     705,862       1,547,701       2,253,563  
Total       $ 10,999,999     $ 6,893,277     $ 17,893,276  

 

The Company’s investment in warrants exercisable for publicly traded stock allow us to purchase up to 500,000 shares of publicly traded common stock at an exercise price of $6.00 per share. The warrants are exercisable in whole or in part until August 20, 2028.