| Note 13 - Investments and Fair Value |
Note 13 - Investments and fair value We account for our financial assets in accordance with ASC 820, Fair Value Measurement. This standard defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. The fair value measurement disclosures are grouped into three levels based on valuation factors: Level 1 represents assets valued at quoted prices in active markets using identical assets; Level 2 represents assets valued using significant other observable inputs, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other observable inputs; and, Level 3 represents assets valued using significant unobservable inputs. The hierarchy of Level 1, Level 2 and Level 3 Assets are listed as following: | | | | | Fair Value Measurement Using | | | | Unadjusted Quoted Market Prices | | Quoted Prices for Identical or Similar Assets in Active Markets | | Significant Unobservable Inputs | | Significant Unobservable Inputs | | Significant Unobservable Inputs | | | | (Level 1) | | (Level 2) | | (Level 3) | | (Level 3) | | (Level 3) | | | | Investment in Securities | | | | Contractual interest Legal Recovery | | Investment in Common Stock Warrants | | Other Equity Investments | | Balance at December 31, 2017 | $ | 188,635 | $ | - | $ | 600,002 | $ | - | $ | 163,714 | | Total gains or losses | | | | | | | | | | | | Included in earnings (or changes in net assets) | | (62,322) | | - | | - | | - | | 86,306 | | Purchases, issuances, sales, and settlements | | | | | | | | | | | | Purchases | | 236,272 | | - | | 200,000 | | 5,669 | | 96,256 | | Issuances | | - | | - | | - | | - | | 8,351 | | Sales | | - | | - | | - | | - | | (108,999) | | Settlements | | - | | - | | - | | - | | - | | Balance at December 31, 2018 | | 362,585 | | - | | 800,002 | | 5,669 | | 245,628 | | Total gains or losses | | | | | | | | | | | | Included in earnings (or changes in net assets) | | (56,528) | | - | | (600,002) | | - | | (41,600) | | Purchases, issuances, sales, and settlements | | | | | | | | | | | | Purchases | | - | | - | | 110,500 | | - | | - | | Issuances | | - | | - | | - | | - | | - | | Sales | | (249,222) | | - | | - | | - | | - | | Settlements | | - | | - | | - | | - | | - | | Balance at September 30, 2019 | $ | 56,835 | $ | - | $ | 310,500 | $ | 5,669 | $ | 204,028 | | | | | | | | | | | | | The amortized costs, gross unrealized holding gains and losses, and fair values of the Companys investment securities classified as equity securities, at fair value, at September 30, 2019 consists of the following: | Type | | Amortized Costs | | Gross Unrealized Gains | | Gross Unrealized Losses | | Fair Values | | NASDAQ listed company stock | $ | 13,100 | $ | - | $ | (1,597) | $ | 11,503 | | OTCQB listed company stock | | 197,166 | | - | | (151,834) | | 45,332 | | | $ | 210,266 | $ | - | $ | (153,431) | $ | 56,835 | The portion of unrealized gains and losses for the period related to equity securities still held at the reporting date is calculated as follows: | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | | | 2019 | | 2018 | | 2019 | | 2018 | | Net gains and losses recognized during the period on equity securities | $ | (45,638) | $ | 204,408 | $ | (56,528) | $ | 269,548 | | | | | | | | | | | | Less: Net gains (losses) recognized during the period on equity securities sold during the period | | - | | - | | 50,521 | | - | | | | | | | | | | | | Unrealized gains and losses recognized during the reporting period on equity securities still held at the reporting date | $ | (45,638) | $ | 204,408 | $ | (107,049) | $ | 269,548 |
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