Liquidmetal Technologies Inc (LQMT)

[Eicheljager]

For context (italics from the 10Q)...

Debt securities are carried at fair value and consist primarily of investments in obligations of the United States Treasury, various U.S. and foreign corporations, and certificates of deposits.

Sometime in the 3rd quarter, LQMT moved $4 million out of US Treasuries and CDs and into "various U.S. and foreign corporations" (process of elimination).

They also added $12 million to long-term debt securities with the latest expiration date occurring in 2025. The full amount of these new investments is considered a "Level 2" instrument when determining fair value. In other words, they aren't publicly traded bonds that have an easily discernable price, but there is a way to accurately value the asset.

Level 2 —

Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities;