| Note 4. Fair Value of Financial Instruments |
Note 4 - Fair Value of Financial Instruments
The estimated fair values of financial instruments outstanding were:
|
|
Sept. 30, 2021 |
|
|
|
|
|
|
Unrealized |
|
|
Unrealized |
|
|
Fair |
|
|
|
Cost |
|
|
Gains |
|
|
Losses |
|
|
Value |
|
Cash and cash equivalents |
|
$ |
9,682,000 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
9,682,000 |
|
Short-term investments |
|
|
26,064,000 |
|
|
|
— |
|
|
|
(33,000 |
) |
|
|
26,031,000 |
|
|
|
$ |
35,746,000 |
|
|
$ |
— |
|
|
$ |
(33,000 |
) |
|
$ |
35,713,000 |
|
|
|
December 31, 2020 |
|
|
|
|
|
|
Unrealized |
|
|
Unrealized |
|
|
Fair |
|
|
|
Cost |
|
|
Gains |
|
|
Losses |
|
|
Value |
|
Cash and cash equivalents |
|
$ |
5,297,000 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
5,297,000 |
|
The following table represents the Company’s fair value hierarchy for its financial assets (cash equivalents and investments):
|
|
Sept. 30, 2021 |
|
|
|
Fair Value |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
Money market funds |
|
$ |
3,936,000 |
|
|
$ |
3,936,000 |
|
|
$ |
— |
|
|
$ |
— |
|
Corporate notes and commercial paper |
|
|
26,031,000 |
|
|
|
— |
|
|
|
26,031,000 |
|
|
|
— |
|
|
|
$ |
29,967,000 |
|
|
$ |
3,936,000 |
|
|
$ |
26,031,000 |
|
|
$ |
— |
|
|