Epsilon Energy Ltd
For the period ended Mar 31, 2024. Filed May 8, 2024.
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Mar 31, 2024 · Filed May 8, 2024
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4. Short Term Investments
Short term investments are highly liquid investments with original maturities between three and twelve months. The Company’s short term investments consist of US Treasury Bills. These investments are classified as available-for-sale. Available-for-sale short term investments are reported at fair value in the Consolidated Balance Sheets. Unrealized gains and losses are excluded from earnings and are reported in accumulated other comprehensive income in the Consolidated Statements of Operations and Comprehensive Income.
The following table summarizes the available-for-sale short term investments as of March 31, 2024 and December 31, 2023.
| · · · · · · · · · · · · · · · · · · | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | March 31, 2024 | December 31, 2023 | ||||||||||
| | | Amortized | | Unrealized | | Fair | | Amortized | | Unrealized | | Fair |
| · Cost · Losses · Value · Cost · Gains · Value | ||||||||||||
| U.S. Treasury Bills | | $12,241,187 | | $(3,010) | | $12,238,177 | | $18,773,508 | | $1,598 | | $18,775,106 |
During the three months ended March 31, 2024, the Company sold securities with a carrying amount of $7,003,123 for total proceeds of $7,159,285. The realized gains on these sales were $156,162. An additional $3,635,000 of securities reached maturity with total realized gains of $135,034. The realized gains are included in other income in the consolidated Statements of Operations and Comprehensive Income.
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