Company: AIRTP
Filing Date: 2025-08-12
Form Type: 10-K/A
Source: 0000353184-25-000069
Chunk: 101

Company: AIR T INC
Filing Date: 2025-08-12
Form: 10-K/A
Chunk 101
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 Marketable equity securities are carried at fair value, with changes in fair market value included in the determination of net income (loss). The fair market value of marketable equity securities is determined based on quoted market prices in active markets and are therefore, considered Level 1 fair value measurements.

The Company's gross unrealized gains and losses on equity securities for the twelve months ended March 31, 2025 and 2024 are as follows (in thousands):

|                   |     | Year Ended March 31, |  2025 |     |   |  2024 |
|:------------------|:----|:---------------------|------:|:----|:--|------:|
| Unrealized Gains  |     | $                    |   615 |     | $ | 1,602 |
| Unrealized Losses |     | $                    | 1,049 |     | $ | 2,055 |

These unrealized gains and losses are included within Other income (loss) in the consolidated statement of income (loss). As of March 31, 2025 and 2024, the fair value of these marketable equity securities was an asset of $ 1.1million and $ 1.9million, respectively, which is included within restricted investments and other current assets in the condensed consolidated balance sheets.

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9. EQUITY METHOD INVESTMENTS

Lendway, Inc. investment

The Company’s investment in Lendway (NASDAQ: LDWY), formerly Insignia Systems, Inc., is accounted for under the equity method of accounting. The Company has elected a three-month lag upon adoption of the equity method. On August 2, 2023, Insignia reincorporated in the state of Delaware as Lendway, Inc. Subsequent to reincorporation, Lendway sold its legacy business on August 4, 2023 to pivot the business towards specialty agricultural finance. On February 26, 2024, Lendway acquired Bloomia B.V. ("Bloomia"), marking its first investment in specialty agriculture and underscoring its strategy of targeting high-quality agricultural assets and enterprises. As of March 31, 2025, the number of Lendway's shares owned by the Company was 0.5million, representing approximately 28% of the outstanding shares. As of March 31, 2025, the Company's net investment basis in Lendway is