Note 6 - Fair Value (Tables)

12 Months Ended

Dec. 31, 2025

Notes Tables

Fair Value, by Balance Sheet Grouping [Table Text Block]

ASSETS		LEVEL 1 QUOTED PRICES				LEVEL 2 OTHER SIGNIFICANT OBSERVABLE INPUTS				LEVEL 3 SIGNIFICANT OBSERVABLE INPUTS
Common Stocks
Advanced Materials		$	—			$	—			$	167,642
Automotive			—				—				0
Total Common Stocks			—				—				167,642
Preferred Stocks
Automotive			—				—				0
Medical Devices			—				—				0
Semiconductor Equipment			—				—				0
Total Preferred Stocks			—				—				0
Convertible Notes and Non-Convertible Notes
Automotive			—				—				0
Medical Devices			—				—				1,523
Semiconductor Equipment			—				—				0
Total Convertible and Non-Convertible Notes			—				—				1,523
Investment Companies			56,271				—				—
Total		$	56,271			$	—			$	169,165

ASSETS		LEVEL 1 QUOTED PRICES				LEVEL 2 OTHER SIGNIFICANT OBSERVABLE INPUTS				LEVEL 3 SIGNIFICANT OBSERVABLE INPUTS
Common Stocks
Advanced Materials		$	-			$	-			$	260,497
Automotive			-				-				0
Equipment Leasing			-				-				0
Total Common Stocks			-				-				260,497
Preferred Stocks
Automotive			-				-				-
Equipment Leasing			-				-				29,466
Medical Equipment			-				-				0
Semiconductor Equipment			-				-				0
Total Preferred Stocks			-				-				29,466
Convertible and Non-Convertible Notes
Automotive			-				-				0
Medical Devices			-				-				25,287
Semiconductor Equipment			-				-				0
Total Convertible and Non-Convertible Notes			-				-				25,287
Investment Companies			745,224				-				-
Total		$	745,224			$	-			$	315,250

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

INVESTMENTS AT FAIR VALUE USING SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3)		BALANCE AS OF 12/31/24				NET PURCHASES/ CONVERSIONS				NET SALES/ CONVERSIONS				NET REALIZED GAINS/ (LOSSES)				NET UNREALIZED APPRECIATION (DEPRECIATION)⁽¹⁾				TRANSFERS IN (OUT) OF LEVEL 3				BALANCE AS OF 12/31/25
Common Stocks
Advanced Materials		$	260,497			$	—			$	—			$	—			$	(92,855	)		$	—			$	167,642
Equipment Leasing			—				—				—				(20,000	)			20,000				—				—
Total Common Stocks			260,497				—				—				(20,000	)			(72,855	)			—				167,642
Preferred Stocks
Equipment Leasing			29,466				—				(8,623	)			(1,921,377	)			1,900,534				—				—
Total Preferred Stocks			29,466				—				(8,623	)			(1,921,377	)			1,900,534				—				—
Convertible and Non-Convertible Notes
Automotive			—				—				—				(24,129,015	)			24,129,015				—				—
Medical Devices			25,287				—				—				—				(23,764	)			—				1,523
Total Convertible and Non-Convertible Notes			25,287				—				—				(24,129,015	)			24,105,251				—				1,523
Total		$	315,250			$	—			$	(8,623	)		$	(26,070,392	)		$	25,932,930			$	—			$	169,165

INVESTMENTS AT FAIR VALUE USING SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3)		BALANCE AS OF 12/31/23				NET PURCHASES/ CONVERSIONS				NET SALES/ CONVERSIONS				NET REALIZED GAINS/ (LOSSES)				NET UNREALIZED APPRECIATION (DEPRECIATION)(1)				TRANSFERS IN (OUT) OF LEVEL 3				BALANCE AS OF 12/31/24
Common Stocks
Advanced Materials		$	299,932			$	-			$	-			$	-			$	(39,435	)		$	-			$	260,497
Equipment Leasing			55				-				-				-				(55	)			-				-
Semiconductor Equipment			-				-				-				-				(3,862,405	)			3,862,405				-
Total Common Stocks			299,987				-				-				-				(3,901,895	)			3,862,405				260,497
Preferred Stocks
Aerospace			-				2,441				(156,405	)			(11,083,138	)			11,237,102				-				-
Equipment Leasing			110,172				-				(20,000	)			-				(60,706	)			-				29,466
Total Preferred Stocks			110,172				2,441				(176,405	)			(11,083,138	)			11,176,396				-				29,466
Convertible and Non-Convertible Notes
Advanced Materials			100,000				-				(100,000	)			-				-				-				-
Aerospace			4,200,000				-				(5,956,261	)			(603,530	)			2,359,791				-				-
Automotive			-				-				(40,000	)			-				40,000				-				-
Medical Devices			87,713				-				-				-				(62,426	)			-				25,287
Total Convertible and Non-Convertible Notes			4,387,713				-				(6,096,261	)			(603,530	)			2,337,365				-				25,287
Total		$	4,797,872			$	2,441			$	(6,272,666	)		$	(11,686,668	)		$	9,611,866			$	3,862,405			$	315,250

Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]

	FAIR VALUE AT 12/31/25	VALUATION TECHNIQUES⁽¹⁾	UNOBSERVABLE INPUTS	RANGE (WEIGHTED AVG.)(2)
Direct venture capital investments: Advanced Materials	$0.2M	Market Comparable Companies Option Pricing Model	Revenue Multiple⁽³⁾ Years to Maturity⁽³⁾ Volatility⁽³⁾ Risk-Free Rate⁽³⁾ Discount for Lack of Marketability⁽⁴⁾	0.8x – 0.9x (0.9x) 5 years (5 years) 50.0% (50%) 3.73% (3.73%) 22.8% (22.8%)

Direct venture capital investments: Automotive	$0.0M	Liquidation Value	Market Value of Invested Capital⁽³⁾	$0 ($0)
Direct venture capital investments: Medical Devices	$0.0M	Market Comparable Companies Market Comparable Transactions	Revenue Multiple⁽³⁾ Risk Free Rate⁽³⁾ Going Concern Probability⁽²⁾ Volatility⁽³⁾	0.4x – 0.5x (0.5x) 3.55% (3.55%) 5% (5%) 55% (55%)
Direct venture capital investments: Semiconductor Equipment	$0.0M	Recent Transactions	Equity Proceeds from Private Transactions⁽³⁾	$0 ($0)

	FAIR VALUE AT 12/31/24	VALUATION TECHNIQUES⁽¹⁾	UNOBSERVABLE INPUTS	RANGE (WEIGHTED AVG.)(2)
Direct venture capital investments: Advanced Materials	$0.3M	Market Comparable Companies Option Pricing Model	Revenue Multiple⁽³⁾ Years to Maturity⁽³⁾ Volatility⁽³⁾ Risk-Free Rate⁽³⁾ Discount for Lack of Marketability⁽⁴⁾	0.8x – 1.0x (1.0x) 5 years (5 years) 50.0% (50%) 4.38% (4.38%) 22.8% (22.8%)

Direct venture capital investments: Automotive	$0.0M	Liquidation Value	Market Value of Invested Capital⁽³⁾	$0 ($0)
Direct venture capital investments: Equipment Leasing	$0.0M	Cash Value Option Pricing Model	Years to Maturity⁽³⁾ Volatility⁽³⁾ Risk-Free Rate⁽³⁾	5 years (5 years) 50.0% (50.0%) 4.38% (4.38%)
Direct venture capital investments: Medical Devices	$0.0M	Market Comparable Companies Market Comparable Transactions	Revenue Multiple⁽³⁾ Risk Free Rate⁽³⁾ Going Concern Probability⁽²⁾ Volatility⁽³⁾	0.7x – 1.1x (0.9x) 4.27% (4.27%) 10% (10%) 55% (55%)
Direct venture capital investments: Semiconductor Equipment	$0.0M	Recent Transactions	Equity Proceeds from Private Transactions⁽³⁾	$0 ($0)

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References + Details