Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2021 | Jun. 24, 2021 | |
Document Information [Line Items] | ||
Entity Registrant Name | IRONSTONE GROUP INC | |
Entity Central Index Key | 0000723269 | |
Trading Symbol | irns | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Interactive Data Current | Yes | |
Entity Common Stock, Shares Outstanding (in shares) | 2,191,689 | |
Entity Shell Company | false | |
Document Type | 10-Q/A | |
Document Period End Date | Mar. 31, 2021 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | true | |
Amendment Description | The previous Company 10Q as of March 31, 2021 did not account for the two for one stock split within its common stock holdings in Arcimoto. The previous filing reported common stock holdings as 37,000 shares. Applying the two for one stock split results in 74,000 shares being held, which has been confirmed by the stock transfer agent of Arcimoto. All financial reports, schedules and notes have been updated to reflect the accurate number of Arcimoto shares held. | |
Title of 12(g) Security | Common Stock, $0.01 par value |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 |
ASSETS: | ||
Cash | $ 117,077 | $ (39) |
Investments: | ||
Marketable securities | 1,034,868 | 1,034,868 |
Non-marketable securities | 2,753,489 | 2,574,665 |
Total assets | 3,905,433 | 3,609,494 |
Accounts payable and accrued expenses | 159,903 | 151,121 |
Line of credit borrowings | 350,000 | 350,000 |
Note payable | 2,161,881 | 2,109,857 |
Note payable - related party | 624,313 | 317,625 |
Interest payable - related party | 147,134 | 139,292 |
Total liabilities | 3,443,232 | 3,067,895 |
Stockholders' equity | ||
Preferred stock, $0.01 par value, 5,000,000 shares authorized, no shares issued and outstanding | ||
Common stock, $0.01 par value, 25,000,000 shares authorized, of which 2,937,225 shares are issued and outstanding as of March 31, 2021 and December 31, 2020 | 29,372 | 29,372 |
Additional paid-in capital | 21,839,083 | 21,839,083 |
Accumulated deficit | (22,567,212) | (23,204,026) |
Accumulated other comprehensive Income | 1,683,532 | 2,399,744 |
Stockholders' Equity before Treasury Stock | 984,775 | 1,064,173 |
Less: Treasury Stock, 745,536 shares, at cost | (522,574) | (522,574) |
Total stockholders' equity | 462,201 | 541,599 |
Total liabilities and stockholders' equity | $ 3,905,433 | $ 3,609,494 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Mar. 31, 2021 | Dec. 31, 2020 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 25,000,000 | 25,000,000 |
Common stock, shares issued (in shares) | 2,937,225 | 2,937,225 |
Common stock, shares outstanding (in shares) | 2,937,225 | 2,937,225 |
Treasury stock, shares (in shares) | 745,536 | 745,536 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Operating expenses: | ||
Professional fees | $ 2,608 | $ 234 |
State and local taxes | 7,349 | 5,650 |
General and administrative expenses | (39) | |
Total operating expenses | 9,918 | 5,884 |
Loss from operations | (9,918) | (5,884) |
Other expense: | ||
Interest expense | (61,637) | (57,255) |
Interest expense to related party | (7,843) | (6,016) |
Net loss | (79,398) | (69,155) |
COMPREHENSIVE LOSS, NET OF TAX: | ||
Net loss | (79,398) | (69,155) |
Unrealized holding gain (loss) arising during the period | (34,040) | |
Comprehensive loss | $ (79,398) | $ (103,195) |
Basic and diluted loss per share | ||
Net loss per share (in dollars per share) | $ (0.04) | $ (0.03) |
Shares outstanding (in shares) | 2,191,689 | 2,191,689 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net loss | $ (79,398) | $ (69,155) |
Changes in operating assets and liabilities: | ||
Accounts payable and accrued expenses | 5,858 | 5,884 |
Interest payable | 54,949 | 50,567 |
Interest payable - related party | 7,842 | 6,016 |
Net cash used in operating activities | (10,749) | (6,688) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Proceeds from issuance of notes payable | 306,688 | 6,688 |
Net cash provided by financing activities | 306,688 | 6,688 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Investment in non-marketable securities | (178,824) | |
Net cash provided (used) by financing activities | (178,824) | |
Net increase in cash | 117,115 | 0 |
Cash at beginning of period | (39) | (39) |
Cash at end of period | 117,076 | (39) |
Supplemental disclosure of cash flow information: | ||
Cash paid during the period for interest |
Note 1 - Business and Summary o
Note 1 - Business and Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block] | 1. Business Activities Ironstone Group, Inc. and subsidiaries have no 1972. Principles of Consolidation The accompanying unaudited condensed consolidated financial statements include the accounts of Ironstone Group, Inc. and its subsidiaries, AcadiEnergy, Inc., Belt Perry Associates, Inc., DeMoss Corporation, and TaxNet, Inc. (collectively the “Company”). All significant intercompany accounts and transactions have been eliminated in consolidation. Basis of Presentation The unaudited condensed consolidated financial statements included herein have been prepared by the Company in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures, normally included in financial statements prepared in accordance with U.S. GAAP, have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, these unaudited condensed consolidated financial statements contain all adjustments (consisting only of normal recurring adjustments) necessary to present fairly the financial position of the Company as of March 31, 2021 December 31, 2020, three March 31, 2021 March 31, 2020 three March 31, 2021 March 31, 2020. not may not not 10 December 31, 2014. There have been no 10 December 31, 2014. Going Concern These financial statements contemplate the realization of assets and the satisfaction of liabilities in the normal course of business. Ironstone Group has incurred losses and negative cash flows from operations over the last ten not Marketable and Non-Marketable Securities Marketable and non-marketable securities have been classified by management as available for sale in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 320, March 31, 2021 December 31, 2020 not not Securities determined to be non-marketable by the Company do not Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates made in the financial statements relate to the valuation of the Company's non-marketable investments. Actual results could differ from those estimates. Income Taxes The Company and its wholly owned subsidiaries file a consolidated federal income tax return. Income taxes are provided for the tax effects of transactions reported in the financial statements and consist of taxes currently due plus deferred income taxes. Deferred income taxes are recognized for differences between the financial statement and tax bases of assets and liabilities that will result in taxable or deductible amounts in the future. Deferred income taxes are also recognized for net operating loss carryforwards that are available to offset future taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. As of March 31, 2021 December 31, 2020, not The Company follows the authoritative guidance on accounting for and disclosure of uncertainty in tax positions, which requires the Company to determine whether a tax position is more likely than not not 50% no The Company files tax returns as prescribed by the tax laws of the jurisdictions in which it operates. In the normal course of business, the Company is subject to examination by federal, state, local, and foreign jurisdictions, where applicable. As of March 31, 2021, 2017 2016 During the three March 31, 2021 2020, $2,925 $65,000 December 31, 2020. $38,025 March 31, 2021 $35,100 December 31, 2020. Stock-Based Compensation Ironstone recognizes the fair value of stock options granted on a straight-line basis over the requisite service period of the option grant, which is the standard vesting term of four The full impact of stock-based compensation in the future is dependent upon, among other things, the total number of stock options granted, the fair value of the stock options at the time of grant and the tax benefit that Ironstone may may not not Basic and Diluted Loss per Share Basic loss per share (“EPS”) excludes dilution and is computed by dividing net income (loss) applicable to common shareholders by the weighted average number of common shares actually outstanding during the period. Diluted EPS reflects the dilution from potentially dilutive securities, except where inclusion of such potentially dilutive securities would have an anti-dilutive effect, using the average stock price during the period in the computation and because of the net loss for the periods presented. Recent Accounting Pronouncements In August 2014, 2014 15, Disclosure of Uncertainties about an Entity s Ability to Continue as a Going Concern 2014 15” 2014 15 2014 15 December 15, 2016. 2014 15. In August 2018, 2018 13, 820 2018 13 2018 13 December 15, 2019. 3 January 1, 2020. not |
Note 2 - Fair Value Measurement
Note 2 - Fair Value Measurements | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 2. Fair value is defined under FASB ASC 820, Fair Value Measurement and Disclosures 820 820 820 820 three first two may Level 1 not 1 not Level 2 one not Level 3 In all cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls has been determined based on the lowest level of input that is significant to the fair value measurement. The Company's assets and liabilities that are measured at fair value on a non-recurring basis include cash, accounts payable, accrued expenses, and interest payable given their short-term nature. Furthermore, the fair value of the Company's notes payable are initially measured at fair value given that they are estimated based on current rates that would be available for debt of similar terms. The following tables provide information about the Company's financial instruments measured at fair value on a recurring basis as of March 31, 2021 December 31, 2020 Balance as of March 31, Level 1 Level 2 Level 3 2021 Investments: Publicly traded common stock $ 979,020 $ - $ - $ 979,020 Publicly traded options $ 55,848 Private company common stock - - 178,824 178,824 Private company preferred stock - - 2,574,665 2,574,665 Total $ 1,034,868 $ - $ 2,753,489 $ 3,788,357 Balance as of December 31, Level 1 Level 2 Level 3 2020 Investments: Publicly traded common stock $ 979,020 $ - $ - $ 979,020 Publicly traded options $ 55,848 Private company common stock - - - Private company preferred stock - - 2,574,665 2,574,665 Total $ 1,034,868 $ - $ 2,574,665 $ 3,609,533 The following tables presents the Company's investments measured at fair value using significant unobservable inputs (Level 3 Fair Value as of March 31, 2021 Valuation Technique Unobservable Inputs Private Company Common Stock $ 178,824 Purchase price 3-10-2021 Acquisition cost Private Company Preferred Stock $ 2,574,666 valuation average range $1.0bn to $1.5bn Big data technology "MESE" system, and SPAC inqueries Fair Value as of December 31, 2020 Valuation Technique Unobservable Inputs Private Company Preferred Stock $ 2,574,666 valuation average range $1.0bn to $1.5bn Big data technology "MESE" system, and SPAC inqueries The following table presents additional information about Level 3 three March 31, 2021 2020. may 3 3 may Three Months Ended March 31, 2021 Balance as of December 31, 2020 $ 2,574,665 Unrealized gain on investments - Balance as of March 31, 2021 $ 2,574,665 Three Months Ended March 31, 2020 Balance as of December 31, 2019 $ 2,574,665 Unrealized gain on investments - Purchase of investment 178,824 Balance as of March 31, 2020 $ 2,574,665 |
Note 3 - Investments
Note 3 - Investments | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Investment [Text Block] | 3. TangoMe, Inc. On March 30, 2012, 468,121 $2.14 $1,000,000. December 31, 2020 no $2,574,666. no March 31, 2021, $2,574,666. Salon Media Group, Inc. The Company owned 1,926,857 March 6, 2019 $0.01 no FlexiInternational Software, Inc. The Company owned 78,000 2015 $10,000 Truett-Hurst, Inc. The company owned 10,000 2015 $30,000 Arcimoto, Inc. During fiscal year 2014 37,000 1 $100,011. The A- 1 2017 2017, two one 74,000. October 2, 2015 2,500 $4.121 October 2, 2025. two one 5,000 $2.0605 September 17, 2017, December 31, 2020 $13.23 $979,020 $55,848. March 31, 2021 $13.23 $979,020 $55,848, no March 31, 2021. Buoy Health, Inc. On March 17, 2021 11,233 $15.92 $178,824 March 31, 2021. |
Note 4 - Related Party Transact
Note 4 - Related Party Transactions | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 4. On December 31, 2014 one $182,000 7.75% December 31, 2015 From the time period January 2016 March 2021, 7.75%. December 31, 2020 March 31, 2021 $135,625 $142,313 December 31, 2020 $30,437 March 31, 2021 $33,716. March 31, 2026. On March 10, 2021 $300,000 6% March 11, 2026 |
Note 5 - Notes Payable
Note 5 - Notes Payable | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Long-term Debt [Text Block] | 5. On March 31, 2012, $1,000,000 third 8% March 31, 2017. 10% 10% April 1, 2017. March 31, 2021 December 31, 2014 $2,161,881 $1,910,916 Furthermore, the Company has a note payable agreement with a related party, William R. Hambrecht. This note carries a 7.75% December 31, 2015. of $182,000 March 31, 2021 December 31, 2020 $112,333 $108,855 December 31, 2025. A loan was made to Ironstone Group by William R. Hambrecht resulting from William R. Hambrecht paying the interest on the Bank Letter of Credit. The loan from William R. Hambrecht interest rate is 7.75%. March 31, 2021 December 31, 2020 $142,313 $135,625 March 31, 2021 $33,716 December 31, 2020 $30,437. March 31, 2026. On March 10, 2021 $300,000 6.0% March 11, 2026 March 31, 2021 $1,085. The scheduled maturities of notes and LOC payable outstanding as of March 31, 2021 2025 2026 pending Total Notes payable $ - $ - $ 2,161,881 $ 2,161,881 Letter of Credit - - 350,000 350,000 Notes payable - related party 182,000 442,313 - 624,313 Total $ 182,000 $ 442,313 $ 2,511,881 $ 3,136,194 |
Note 6 - Line of Credit Arrange
Note 6 - Line of Credit Arrangement | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Line of Credit Facility [Text Block] | 6. The Company has a line of credit arrangement with First Republic Bank (the “lender”) with a borrowing limit of $350,000 4.5% March 31, 2020 December 31, 2020, 7.75% March 31, 2021 December 31, 2020, $350,000 March 31, 2021 December 31, 2020 $6,688 $6,637 |
Note 7 - Stockholders' Equity
Note 7 - Stockholders' Equity | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 7. EQUITY Common Stock On January 2, 2014, 131,429 7% $230,000. On May 1, 2014, third 187,296 September 30, 2014, 187,296 third Treasury Stock On September 15, 2003, 745,536 $0.70 $521,875. 50.11% December 31, 2008, $699 March 31, 2021 December 31, 2020, Preferred Stock The Company is authorized to issue up to five million No March 31, 2021 December 31, 2020. Stock-Based Compensation For the quarters ended March 31, 2021 March 31, 2020, no Stock Option Plans The Company is currently revising its existing Equity Incentive Plan. As of March 31, 2021, 187,296 Earnings (Loss) Per Share Basic net income (loss) per share is computed by dividing the net income (loss) by the weighted number of shares of common stock outstanding during the period. Diluted net income (loss) per share is computed by dividing the net income (loss) for the period by the weighted average number of common and dilutive potential common shares outstanding during the period, if dilutive. Potentially dilutive common equivalent shares are composed of the incremental common shares issuable upon the exercise of stock options. The following is the computations of the basic and diluted net income per share and the anti-dilutive common stock equivalents excluded from the computations for the periods presented: Quarters Ended March 31, 2021 March 31, 2020 Numerator: Net Loss $ (79,398 ) $ (103,195 ) Denominator: Weighted average shares outstanding - basic 2,191,689 2,191,689 Effect of dilutive potential shares - - Shares outstanding - diluted 2,191,689 2,191,689 Net loss per share - basic $ (0.04 ) $ (0.05 ) Net loss per share - diluted $ (0.04 ) $ (0.05 ) |
Note 8 - Management's Plans
Note 8 - Management's Plans | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Substantial Doubt about Going Concern [Text Block] | 8. S PLANS As reflected in the accompanying financial statements, the Company has net losses and has a negative cash flow from operations. The attainment of profitable operations is dependent upon future events, including liquidity events in privately held investments in excess of purchase price, and or the profitable sale of publicly traded investments. If necessary, to provide liquidity, the Company may may may not |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2021 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The accompanying unaudited condensed consolidated financial statements include the accounts of Ironstone Group, Inc. and its subsidiaries, AcadiEnergy, Inc., Belt Perry Associates, Inc., DeMoss Corporation, and TaxNet, Inc. (collectively the “Company”). All significant intercompany accounts and transactions have been eliminated in consolidation. |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The unaudited condensed consolidated financial statements included herein have been prepared by the Company in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures, normally included in financial statements prepared in accordance with U.S. GAAP, have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, these unaudited condensed consolidated financial statements contain all adjustments (consisting only of normal recurring adjustments) necessary to present fairly the financial position of the Company as of March 31, 2021 December 31, 2020, three March 31, 2021 March 31, 2020 three March 31, 2021 March 31, 2020. not may not not 10 December 31, 2014. There have been no 10 December 31, 2014. |
Going Concern [Policy Text Block] | Going Concern These financial statements contemplate the realization of assets and the satisfaction of liabilities in the normal course of business. Ironstone Group has incurred losses and negative cash flows from operations over the last ten not |
Investment, Policy [Policy Text Block] | Marketable and Non-Marketable Securities Marketable and non-marketable securities have been classified by management as available for sale in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 320, March 31, 2021 December 31, 2020 not not Securities determined to be non-marketable by the Company do not |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates made in the financial statements relate to the valuation of the Company's non-marketable investments. Actual results could differ from those estimates. |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company and its wholly owned subsidiaries file a consolidated federal income tax return. Income taxes are provided for the tax effects of transactions reported in the financial statements and consist of taxes currently due plus deferred income taxes. Deferred income taxes are recognized for differences between the financial statement and tax bases of assets and liabilities that will result in taxable or deductible amounts in the future. Deferred income taxes are also recognized for net operating loss carryforwards that are available to offset future taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. As of March 31, 2021 December 31, 2020, not The Company follows the authoritative guidance on accounting for and disclosure of uncertainty in tax positions, which requires the Company to determine whether a tax position is more likely than not not 50% no The Company files tax returns as prescribed by the tax laws of the jurisdictions in which it operates. In the normal course of business, the Company is subject to examination by federal, state, local, and foreign jurisdictions, where applicable. As of March 31, 2021, 2017 2016 During the three March 31, 2021 2020, $2,925 $65,000 December 31, 2020. $38,025 March 31, 2021 $35,100 December 31, 2020. |
Share-based Payment Arrangement [Policy Text Block] | Stock-Based Compensation Ironstone recognizes the fair value of stock options granted on a straight-line basis over the requisite service period of the option grant, which is the standard vesting term of four The full impact of stock-based compensation in the future is dependent upon, among other things, the total number of stock options granted, the fair value of the stock options at the time of grant and the tax benefit that Ironstone may may not not |
Earnings Per Share, Policy [Policy Text Block] | Basic and Diluted Loss per Share Basic loss per share (“EPS”) excludes dilution and is computed by dividing net income (loss) applicable to common shareholders by the weighted average number of common shares actually outstanding during the period. Diluted EPS reflects the dilution from potentially dilutive securities, except where inclusion of such potentially dilutive securities would have an anti-dilutive effect, using the average stock price during the period in the computation and because of the net loss for the periods presented. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements In August 2014, 2014 15, Disclosure of Uncertainties about an Entity s Ability to Continue as a Going Concern 2014 15” 2014 15 2014 15 December 15, 2016. 2014 15. In August 2018, 2018 13, 820 2018 13 2018 13 December 15, 2019. 3 January 1, 2020. not |
Note 2 - Fair Value Measureme_2
Note 2 - Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Balance as of March 31, Level 1 Level 2 Level 3 2021 Investments: Publicly traded common stock $ 979,020 $ - $ - $ 979,020 Publicly traded options $ 55,848 Private company common stock - - 178,824 178,824 Private company preferred stock - - 2,574,665 2,574,665 Total $ 1,034,868 $ - $ 2,753,489 $ 3,788,357 Balance as of December 31, Level 1 Level 2 Level 3 2020 Investments: Publicly traded common stock $ 979,020 $ - $ - $ 979,020 Publicly traded options $ 55,848 Private company common stock - - - Private company preferred stock - - 2,574,665 2,574,665 Total $ 1,034,868 $ - $ 2,574,665 $ 3,609,533 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | Fair Value as of March 31, 2021 Valuation Technique Unobservable Inputs Private Company Common Stock $ 178,824 Purchase price 3-10-2021 Acquisition cost Private Company Preferred Stock $ 2,574,666 valuation average range $1.0bn to $1.5bn Big data technology "MESE" system, and SPAC inqueries Fair Value as of December 31, 2020 Valuation Technique Unobservable Inputs Private Company Preferred Stock $ 2,574,666 valuation average range $1.0bn to $1.5bn Big data technology "MESE" system, and SPAC inqueries |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Three Months Ended March 31, 2021 Balance as of December 31, 2020 $ 2,574,665 Unrealized gain on investments - Balance as of March 31, 2021 $ 2,574,665 Three Months Ended March 31, 2020 Balance as of December 31, 2019 $ 2,574,665 Unrealized gain on investments - Purchase of investment 178,824 Balance as of March 31, 2020 $ 2,574,665 |
Note 5 - Notes Payable (Tables)
Note 5 - Notes Payable (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Maturities of Long-term Debt [Table Text Block] | 2025 2026 pending Total Notes payable $ - $ - $ 2,161,881 $ 2,161,881 Letter of Credit - - 350,000 350,000 Notes payable - related party 182,000 442,313 - 624,313 Total $ 182,000 $ 442,313 $ 2,511,881 $ 3,136,194 |
Note 7 - Stockholders' Equity (
Note 7 - Stockholders' Equity (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Quarters Ended March 31, 2021 March 31, 2020 Numerator: Net Loss $ (79,398 ) $ (103,195 ) Denominator: Weighted average shares outstanding - basic 2,191,689 2,191,689 Effect of dilutive potential shares - - Shares outstanding - diluted 2,191,689 2,191,689 Net loss per share - basic $ (0.04 ) $ (0.05 ) Net loss per share - diluted $ (0.04 ) $ (0.05 ) |
Note 1 - Business and Summary_2
Note 1 - Business and Summary of Significant Accounting Policies (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Other than Temporary Impairment Losses, Investments, Total | $ 0 | $ 0 | |
Increase (Decrease) in Interest Payable, Net | $ 54,949 | $ 50,567 | |
Share-based Payment Arrangement, Option [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 4 years | ||
Delaware Division of Revenue [Member] | |||
Increase (Decrease) in Interest Payable, Net | $ 2,925 | 2,925 | |
Taxes Payable, Total | $ 65,000 | ||
Interest Payable | $ 38,025 | $ 35,100 | |
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | |||
Open Tax Year | 2017 2018 2019 2020 | ||
State and Local Jurisdiction [Member] | California Franchise Tax Board [Member] | |||
Open Tax Year | 2016 2017 2018 2019 2020 |
Note 2 - Fair Value Measureme_3
Note 2 - Fair Value Measurements - Financial Instruments Measured at Fair Value on a Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 |
Investments, fair value | $ 3,788,357 | $ 3,609,533 |
Publicly Traded Common Stock [Member] | ||
Investments, fair value | 979,020 | 979,020 |
Publicly Traded Options [Member] | ||
Investments, fair value | ||
Private Company Common Stock [Member] | ||
Investments, fair value | 178,824 | |
Private Company Preferred Stock [Member] | ||
Investments, fair value | 2,574,665 | 2,574,665 |
Fair Value, Inputs, Level 1 [Member] | ||
Investments, fair value | 1,034,868 | 1,034,868 |
Fair Value, Inputs, Level 1 [Member] | Publicly Traded Common Stock [Member] | ||
Investments, fair value | 979,020 | 979,020 |
Fair Value, Inputs, Level 1 [Member] | Publicly Traded Options [Member] | ||
Investments, fair value | 55,848 | 55,848 |
Fair Value, Inputs, Level 1 [Member] | Private Company Common Stock [Member] | ||
Investments, fair value | ||
Fair Value, Inputs, Level 1 [Member] | Private Company Preferred Stock [Member] | ||
Investments, fair value | ||
Fair Value, Inputs, Level 2 [Member] | ||
Investments, fair value | ||
Fair Value, Inputs, Level 2 [Member] | Publicly Traded Common Stock [Member] | ||
Investments, fair value | ||
Fair Value, Inputs, Level 2 [Member] | Publicly Traded Options [Member] | ||
Investments, fair value | ||
Fair Value, Inputs, Level 2 [Member] | Private Company Common Stock [Member] | ||
Investments, fair value | ||
Fair Value, Inputs, Level 2 [Member] | Private Company Preferred Stock [Member] | ||
Investments, fair value | ||
Fair Value, Inputs, Level 3 [Member] | ||
Investments, fair value | 2,753,489 | 2,574,665 |
Fair Value, Inputs, Level 3 [Member] | Publicly Traded Common Stock [Member] | ||
Investments, fair value | ||
Fair Value, Inputs, Level 3 [Member] | Publicly Traded Options [Member] | ||
Investments, fair value | ||
Fair Value, Inputs, Level 3 [Member] | Private Company Common Stock [Member] | ||
Investments, fair value | 178,824 | |
Fair Value, Inputs, Level 3 [Member] | Private Company Preferred Stock [Member] | ||
Investments, fair value | $ 2,574,665 | $ 2,574,665 |
Note 2 - Fair Value Measureme_4
Note 2 - Fair Value Measurements - Investments Measured at Fair Value Using Significant Unobservable Inputs (Details) - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 |
Private Company Common Stock [Member] | Valuation, Cost Approach [Member] | Purchase Price [Member] | ||
Investments, fair value | $ 178,824 | |
Private Company Preferred Stock [Member] | Valuation, Market Approach [Member] | Measurement Input, Quoted Price [Member] | ||
Investments, fair value | $ 2,574,666 | $ 2,574,666 |
Note 2 - Fair Value Measureme_5
Note 2 - Fair Value Measurements - Additional Information about Level 3 Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Balance as of December 31, 2020 | $ 2,574,665 | $ 2,574,665 |
Unrealized gain on investments | ||
Purchase of investment | 178,824 | |
Balance as of March 31, 2021 | $ 2,574,665 | $ 2,574,665 |
Note 3 - Investments (Details T
Note 3 - Investments (Details Textual) | Mar. 17, 2021USD ($)$ / sharesshares | Mar. 06, 2019$ / sharesshares | Oct. 02, 2015$ / sharesshares | Mar. 30, 2012USD ($)$ / sharesshares | Mar. 31, 2021USD ($)$ / shares | Dec. 31, 2020USD ($)$ / shares | Dec. 31, 2018$ / sharesshares | Dec. 31, 2017shares | Dec. 31, 2015USD ($)shares | Dec. 31, 2014USD ($)shares | Mar. 05, 2019shares |
Salon Media Group, Inc [Member] | |||||||||||
Disposal Group, Including Discontinued Operation, Consideration, Per Share (in dollars per share) | $ / shares | $ 0.01 | ||||||||||
Arcimoto, Inc. [Member] | |||||||||||
Share Price (in dollars per share) | $ / shares | $ 13.23 | $ 13.23 | |||||||||
Arcimoto, Inc. [Member] | Reverse Stock Split [Member] | |||||||||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 2 | ||||||||||
TangoMe, Inc, Series A Preferred Stock [Member] | |||||||||||
Gain (Loss) on Investments, Total | $ | $ 0 | $ 0 | |||||||||
Investment Owned, at Fair Value | $ | 2,574,666 | 2,574,666 | |||||||||
TangoMe, Inc, Series A Preferred Stock [Member] | Chief Executive Officer [Member] | |||||||||||
Investment Purchased, Shares (in shares) | shares | 468,121 | ||||||||||
Investment Purchased, Price Per Share (in dollars per share) | $ / shares | $ 2.14 | ||||||||||
Investment Purchased, Value | $ | $ 1,000,000 | ||||||||||
Salon Media Group, Inc, Common Stock [Member] | |||||||||||
Investment Owned, Balance, Shares (in shares) | shares | 1,926,857 | ||||||||||
Investment Owned, Shares, Write-Off (in shares) | shares | 1,926,857 | ||||||||||
Flexi International Software Stock [Member] | |||||||||||
Investment Owned, Balance, Shares (in shares) | shares | 78,000 | ||||||||||
Proceeds from Sale, Maturity and Collection of Investments, Total | $ | $ 10,000 | ||||||||||
Investment Sold, Shares (in shares) | shares | 78,000 | ||||||||||
Truett-Hurst Common Stock [Member] | |||||||||||
Investment Owned, Balance, Shares (in shares) | shares | 10,000 | ||||||||||
Proceeds from Sale, Maturity and Collection of Investments, Total | $ | $ 30,000 | ||||||||||
Investment Sold, Shares (in shares) | shares | 10,000 | ||||||||||
Arcimoto, Inc. Series A-1 Preferred Stock [Member] | |||||||||||
Investment Purchased, Shares (in shares) | shares | 37,000 | ||||||||||
Payments to Acquire Investments, Total | $ | $ 100,011 | ||||||||||
Options in Arcimoto, Inc [Member] | |||||||||||
Investment Owned, at Fair Value | $ | 55,848 | 55,848 | |||||||||
Investment Owned, Balance, Shares (in shares) | shares | 2,500 | 5,000 | 74,000 | ||||||||
Option Indexed to Issuer's Equity, Strike Price (in dollars per share) | $ / shares | $ 4.121 | $ 2.0605 | |||||||||
Common Stock in Arcimoto, Inc [Member] | |||||||||||
Investment Owned, at Fair Value | $ | 979,020 | $ 979,020 | |||||||||
Arcimoto, Inc. [Member] | |||||||||||
Gain (Loss) on Investments, Total | $ | $ 0 | ||||||||||
Common Shares of Buoy Health, Inc [Member] | |||||||||||
Investment Purchased, Shares (in shares) | shares | 11,233 | ||||||||||
Investment Purchased, Price Per Share (in dollars per share) | $ / shares | $ 15.92 | ||||||||||
Investment Purchased, Value | $ | $ 178,824 |
Note 4 - Related Party Transa_2
Note 4 - Related Party Transactions (Details Textual) - Chief Executive Officer [Member] - USD ($) | Mar. 31, 2021 | Mar. 10, 2021 | Dec. 31, 2020 | Dec. 31, 2014 |
Notes Payable, Related Party [Member] | ||||
Debt Instrument, Face Amount | $ 182,000 | |||
Debt Instrument, Interest Rate, Stated Percentage | 7.75% | 7.75% | ||
Long-term Debt, Gross | $ 182,000 | |||
Interest Payable | $ 112,333 | $ 108,855 | ||
Loan Payable for Interest on Letter of Credit [Member] | ||||
Debt Instrument, Interest Rate, Stated Percentage | 7.75% | |||
Long-term Debt, Gross | $ 142,313 | 135,625 | ||
Interest Payable | 33,716 | $ 30,437 | ||
Loans Payable [Member] | ||||
Debt Instrument, Face Amount | $ 300,000 | |||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | |||
Interest Payable | $ 1,085 |
Note 5 - Notes Payable (Details
Note 5 - Notes Payable (Details Textual) - USD ($) | Mar. 31, 2012 | Mar. 31, 2021 | Mar. 31, 2020 | Mar. 10, 2021 | Dec. 31, 2020 | Apr. 01, 2017 | Dec. 31, 2014 |
Proceeds from Notes Payable, Total | $ 306,688 | $ 6,688 | |||||
Notes Payable, Other Payables [Member] | |||||||
Proceeds from Notes Payable, Total | $ 1,000,000 | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | 10.00% | |||||
Debt Instrument, Interest Rate, Default Percentage | 10.00% | ||||||
Long-term Debt, Gross | $ 2,161,881 | $ 1,910,916 | |||||
Notes Payable, Related Party [Member] | Chief Executive Officer [Member] | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 7.75% | 7.75% | |||||
Long-term Debt, Gross | $ 182,000 | ||||||
Interest Payable | $ 112,333 | $ 108,855 | |||||
Debt Instrument, Face Amount | $ 182,000 | ||||||
Loan Payable for Interest on Letter of Credit [Member] | Chief Executive Officer [Member] | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 7.75% | ||||||
Long-term Debt, Gross | $ 142,313 | 135,625 | |||||
Interest Payable | 33,716 | $ 30,437 | |||||
Loans Payable [Member] | Chief Executive Officer [Member] | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | ||||||
Interest Payable | $ 1,085 | ||||||
Debt Instrument, Face Amount | $ 300,000 |
Note 5 - Note Payable - Schedul
Note 5 - Note Payable - Scheduled Maturities (Details) | Mar. 31, 2021USD ($) |
2025 | $ 182,000 |
2026 | 442,313 |
pending | 2,511,881 |
Total | 3,136,194 |
Letter of Credit [Member] | |
2025 | |
2026 | |
pending | 350,000 |
Total | 350,000 |
Notes Payable, Other Payables [Member] | |
2025 | |
2026 | |
pending | 2,161,881 |
Total | 2,161,881 |
Notes Payable, Related Party [Member] | |
2025 | 182,000 |
2026 | 442,313 |
pending | |
Total | $ 624,313 |
Note 6 - Line of Credit Arran_2
Note 6 - Line of Credit Arrangement (Details Textual) - USD ($) | 3 Months Ended | ||
Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | |
Long-term Line of Credit, Total | $ 350,000 | $ 350,000 | |
Interest Expense, Debt, Total | 61,637 | $ 57,255 | |
First Republic Bank [Member] | Line of Credit [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | 350,000 | ||
Debt Instrument, Interest Rate, Effective Percentage | 7.75% | 7.75% | |
Long-term Line of Credit, Total | 350,000 | $ 350,000 | |
Interest Expense, Debt, Total | $ 6,688 | $ 6,637 | |
First Republic Bank [Member] | Line of Credit [Member] | Prime Rate [Member] | |||
Debt Instrument, Basis Spread on Variable Rate | 4.50% |
Note 7 - Stockholders' Equity_2
Note 7 - Stockholders' Equity (Details Textual) - USD ($) | Sep. 30, 2014 | May 01, 2014 | Jan. 02, 2014 | Sep. 15, 2003 | Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2008 | Dec. 31, 2020 |
Stock Issued During Period, Shares, Warrant Exercises (in shares) | 187,296 | 187,296 | ||||||
Treasury Stock, Shares, Acquired (in shares) | 745,536 | |||||||
Treasury Stock Acquired, Average Cost Per Share (in dollars per share) | $ 0.70 | |||||||
Treasury Stock, Value, Acquired, Cost Method | $ 521,875 | $ 699 | ||||||
Treasury Stock, Acquired, Percentage Outstanding Shares | 50.11% | |||||||
Preferred Stock, Shares Authorized (in shares) | 5,000,000 | 5,000,000 | ||||||
Preferred Stock, Shares Issued, Total (in shares) | 0 | 0 | ||||||
Share-based Payment Arrangement, Expense | $ 0 | $ 0 | ||||||
Equity Incentive Plan [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 187,296 | |||||||
Purchase Agreement [Member] | ||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 131,429 | |||||||
Stock Issued During Period, Percentage Outstanding | 7.00% | |||||||
Stock Issued During Period, Value, New Issues | $ 230,000 |
Note 7 - Stockholders' Equity -
Note 7 - Stockholders' Equity - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Net Loss | $ (79,398) | $ (103,195) |
Weighted average shares outstanding - basic (in shares) | 2,191,689 | 2,191,689 |
Effect of dilutive potential shares (in shares) | ||
Shares outstanding - diluted (in shares) | 2,191,689 | 2,191,689 |
Net loss per share - basic (in dollars per share) | $ (0.04) | $ (0.05) |
Net loss per share - diluted (in dollars per share) | $ (0.04) | $ (0.05) |