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George Risk Industries (RSKIA)

Cover

Cover - shares6 Months Ended
Oct. 31, 2021Dec. 15, 2021
Document Type10-Q
Amendment Flagfalse
Document Quarterly Reporttrue
Document Transition Reportfalse
Document Period End DateOct. 31,
2021
Document Fiscal Period FocusQ2
Document Fiscal Year Focus2022
Current Fiscal Year End Date--04-30
Entity File Number000-05378
Entity Registrant NameGEORGE
RISK INDUSTRIES, INC.
Entity Central Index Key0000084112
Entity Tax Identification Number84-0524756
Entity Incorporation, State or Country CodeCO
Entity Address, Address Line One802
South Elm St.
Entity Address, City or TownKimball
Entity Address, State or ProvinceNE
Entity Address, Postal Zip Code69145
City Area Code(308)
Local Phone Number235-4645
Entity Current Reporting StatusYes
Entity Interactive Data CurrentYes
Entity Filer CategoryNon-accelerated Filer
Entity Small Businesstrue
Entity Emerging Growth Companyfalse
Entity Shell Companyfalse
Entity Common Stock, Shares Outstanding4,943,856
Class A Common Stock, $0.10 par Value [Member]
Title of 12(b) SecurityClass
A Common Stock, $0.10 par value
Trading SymbolRSKIA
Convertible Preferred Stock, $20 stated Value [Member]
Title of 12(b) SecurityConvertible
Preferred Stock, $20 stated value
Trading SymbolRSKIA

Condensed Balance Sheets

Condensed Balance Sheets - USD ($)Oct. 31, 2021Apr. 30, 2021
Current Assets:
Cash and cash equivalents $ 6,107,000 $ 7,326,000
Investments and securities34,409,000 33,337,000
Accounts receivable:
Trade, net of $20,343 and $9,947 doubtful account allowance3,617,000 3,812,000
Other18,000 16,000
Inventories, net7,077,000 5,622,000
Prepaid expenses561,000 405,000
Total Current Assets51,789,000 50,518,000
Property and Equipment, net, at cost1,593,000 1,704,000
Other Assets
Investment in Limited Land Partnership, at cost344,000 320,000
Projects in process341,000 200,000
Other40,000
Total Other Assets725,000 520,000
Intangible Assets, net1,332,000 1,394,000
TOTAL ASSETS55,439,000 54,136,000
Current Liabilities
Accounts payable, trade294,000 477,000
Dividends payable2,297,000 2,080,000
Accrued expenses:
Payroll and other expense355,000 359,000
Income tax payable220,000 81,000
Total Current Liabilities3,166,000 2,997,000
Long-Term Liabilities
Deferred income taxes2,969,000 2,735,000
Total Long-Term Liabilities2,969,000 2,735,000
Total Liabilities6,135,000 5,732,000
Commitments and Contingencies
Stockholders’ Equity
Convertible preferred stock, 1,000,000 shares authorized, Series 1—noncumulative, $20 stated value, 25,000 shares authorized, 4,100 issued and outstanding99,000 99,000
Common stock, Class A, $.10 par value, 10,000,000 shares authorized, 8,502,881 shares issued and outstanding850,000 850,000
Additional paid-in capital1,934,000 1,934,000
Accumulated other comprehensive income72,000 108,000
Retained earnings50,711,000 49,749,000
Less: treasury stock, 3,558,425 and 3,556,412 shares, at cost(4,362,000)(4,336,000)
Total Stockholders’ Equity49,304,000 48,404,000
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 55,439,000 $ 54,136,000

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - USD ($)Oct. 31, 2021Apr. 30, 2021
Accounts Receivable, Allowance for Credit Loss, Current $ 20,343 $ 9,947
Convertible preferred stock, shares authorized1,000,000 1,000,000
Class A Common stock, par value $ 0.10 $ 0.10
Class A Common stock, shares authorized10,000,000 10,000,000
Class A Common stock, shares issued8,502,881 8,502,881
Class A Common stock, shares outstanding8,502,881 8,502,881
Treasury stock, shares3,558,425 3,556,412
Noncumulative Preferred Stock [Member]
Convertible preferred stock, shares authorized25,000 25,000
Convertible preferred stock, stated value $ 20 $ 20
Convertible preferred stock, shares issued4,100 4,100
Convertible preferred stock, shares outstanding4,100 4,100

Condensed Income Statements (Un

Condensed Income Statements (Unaudited) - USD ($)3 Months Ended6 Months Ended
Oct. 31, 2021Oct. 31, 2020Oct. 31, 2021Oct. 31, 2020
Income Statement [Abstract]
Net Sales $ 5,244,000 $ 4,647,000 $ 10,199,000 $ 8,694,000
Less: Cost of Goods Sold(2,729,000)(2,294,000)(5,047,000)(4,245,000)
Gross Profit2,515,000 2,353,000 5,152,000 4,449,000
Operating Expenses
General and Administrative350,000 364,000 699,000 678,000
Sales720,000 604,000 1,460,000 1,171,000
Engineering21,000 21,000 39,000 50,000
Total Operating Expenses1,091,000 989,000 2,198,000 1,899,000
Income From Operations1,424,000 1,364,000 2,954,000 2,550,000
Other Income (Expense)
Other13,000 44,000 13,000 56,000
Dividend and Interest Income148,000 134,000 324,000 290,000
Unrealized Gain (Loss) on Equity Securities623,000 (115,000)1,043,000 1,999,000
Gain on Investments79,000 72,000 300,000 44,000
Gain on Sale of Assets 4,000 4,000
Total Other Income863,000 139,000 1,680,000 2,393,000
Income Before Provisions for Income Taxes2,287,000 1,503,000 4,634,000 4,943,000
Provisions for Income Taxes:
Current Expense454,000 682,000 952,000 1,032,000
Deferred Tax (Benefit) Expense145,000 (39,000)248,000 559,000
Total Income Tax Expense599,000 643,000 1,200,000 1,591,000
Net Income $ 1,688,000 $ 860,000 $ 3,434,000 $ 3,352,000
Income Per Share of Common Stock
Basic $ 0.34 $ 0.17 $ 0.69 $ 0.68
Diluted $ 0.34 $ 0.17 $ 0.69 $ 0.67
Weighted Average Number of Common Shares Outstanding
Basic4,945,130 4,949,902 4,945,795 4,949,914
Diluted4,965,630 4,970,402 4,966,295 4,970,414

Condensed Statements of Compreh

Condensed Statements of Comprehensive Income (Unaudited) - USD ($)3 Months Ended6 Months Ended
Oct. 31, 2021Oct. 31, 2020Oct. 31, 2021Oct. 31, 2020
Income Statement [Abstract]
Net Income $ 1,688,000 $ 860,000 $ 3,434,000 $ 3,352,000
Unrealized gain (loss) on debt securities:
Unrealized holding gains (losses) arising during period(61,000)(20,000)(50,000)130,000
Income tax benefit (expense) related to other comprehensive income18,000 6,000 14,000 (39,000)
Other Comprehensive Income (Loss)(43,000)(14,000)(36,000)91,000
Comprehensive Income $ 1,645,000 $ 846,000 $ 3,398,000 $ 3,443,000

Condensed Statements of Stockho

Condensed Statements of Stockholders' Equity (Unaudited) - USD ($)Preferred Stock [Member]Common Stock Class A [Member]Additional Paid-in Capital [Member]Treasury Stock [Member]AOCI Attributable to Parent [Member]Retained Earnings [Member]Total
Beginning balance at Apr. 30, 2020 $ 99,000 $ 850,000 $ 1,934,000 $ (4,301,000) $ (4,000) $ 41,006,000 $ 39,584,000
Beginning balance, shares at Apr. 30, 20204,100 8,502,881 3,552,954
Purchases of common stock $ (1,000) (1,000)
Purchases of common stock, shares 75
Dividend declared (2,079,000)(2,079,000)
Unrealized gain (loss), net of tax effect 91,000 91,000
Net Income 3,352,000 3,352,000
Ending balance at Oct. 31, 2020 $ 99,000 $ 850,000 1,934,000 $ (4,302,000)87,000 42,279,000 40,947,000
Ending balance, shares at Oct. 31, 20204,100 8,502,881 3,553,029
Beginning balance at Jul. 31, 2020 $ 99,000 $ 850,000 1,934,000 $ (4,301,000)101,000 43,498,000 42,181,000
Beginning balance, shares at Jul. 31, 20204,100 8,502,881 3,552,954
Purchases of common stock $ (1,000) (1,000)
Purchases of common stock, shares 75
Dividend declared (2,079,000)(2,079,000)
Unrealized gain (loss), net of tax effect (14,000) (14,000)
Net Income 860,000 860,000
Ending balance at Oct. 31, 2020 $ 99,000 $ 850,000 1,934,000 $ (4,302,000)87,000 42,279,000 40,947,000
Ending balance, shares at Oct. 31, 20204,100 8,502,881 3,553,029
Beginning balance at Apr. 30, 2021 $ 99,000 $ 850,000 1,934,000 $ (4,336,000)108,000 49,749,000 48,404,000
Beginning balance, shares at Apr. 30, 20214,100 8,502,881 3,556,412
Purchases of common stock $ (26,000) (26,000)
Purchases of common stock, shares 2,013
Dividend declared (2,472,000)(2,472,000)
Unrealized gain (loss), net of tax effect (36,000) (36,000)
Net Income 3,434,000 3,434,000
Ending balance at Oct. 31, 2021 $ 99,000 $ 850,000 1,934,000 $ (4,362,000)72,000 50,711,000 49,304,000
Ending balance, shares at Oct. 31, 20214,100 8,502,881 3,558,425
Beginning balance at Jul. 31, 2021 $ 99,000 $ 850,000 1,934,000 $ (4,336,000)115,000 51,495,000 50,157,000
Beginning balance, shares at Jul. 31, 20214,100 8,502,881 3,556,425
Purchases of common stock $ (26,000) (26,000)
Purchases of common stock, shares 2,000
Dividend declared (2,472,000)(2,472,000)
Unrealized gain (loss), net of tax effect (43,000) (43,000)
Net Income 1,688,000 1,688,000
Ending balance at Oct. 31, 2021 $ 99,000 $ 850,000 $ 1,934,000 $ (4,362,000) $ 72,000 $ 50,711,000 $ 49,304,000
Ending balance, shares at Oct. 31, 20214,100 8,502,881 3,558,425

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($)6 Months Ended
Oct. 31, 2021Oct. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income $ 3,434,000 $ 3,352,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization213,000 189,000
(Gain) on sale of investments(300,000)(123,000)
Impairments on investments 79,000
Unrealized (gain) on equity securities(1,043,000)(1,999,000)
Reserve for bad debts10,000 (6,000)
Reserve for obsolete inventory73,000 10,000
Deferred income taxes248,000 559,000
(Gain) loss on sale of assets (4,000)
(Increase) decrease in:
Accounts receivable185,000 32,000
Inventories(1,528,000)(637,000)
Prepaid expenses and projects in process(337,000)73,000
Other receivables(2,000)(10,000)
Increase (decrease) in:
Accounts payable(183,000)28,000
Accrued expenses(4,000)(104,000)
Income tax payable140,000 376,000
Net cash from operating activities906,000 1,815,000
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from sale of assets 4,000
(Purchase) of property and equipment(40,000)(361,000)
Proceeds from sale of marketable securities428,000 16,000
(Purchase) of marketable securities(208,000)(186,000)
(Purchase) of long-term investment(24,000)
Net cash from investing activities156,000 (527,000)
CASH FLOWS FROM FINANCING ACTIVITIES:
(Purchase) of treasury stock(26,000)(1,000)
Dividends paid(2,255,000)(1,890,000)
Net cash from financing activities(2,281,000)(1,891,000)
NET CHANGE IN CASH AND CASH EQUIVALENTS(1,219,000)(603,000)
Cash and Cash Equivalents, beginning of period7,326,000 6,458,000
Cash and Cash Equivalents, end of period6,107,000 5,855,000
Supplemental Disclosure for Cash Flow Information:
Income taxes860,000 650,000
Interest paid
Cash receipts for:
Income taxes $ 43,000

Unaudited Interim Financial Sta

Unaudited Interim Financial Statements6 Months Ended
Oct. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Unaudited Interim Financial StatementsNote
1 Unaudited Interim Financial Statements The
accompanying financial statements have been prepared in accordance with the instructions for Form 10-Q and do not include all of the
information and footnotes required by generally accepted accounting principles for complete financial statements. It is suggested that
these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company’s
April 30, 2021 annual report on Form 10-K. In the opinion of management, all adjustments, consisting only of normal recurring adjustments
considered necessary for a fair presentation, have been included. Operating results for any quarter are not necessarily indicative of
the results for any other quarter or for the full year. Accounting
Estimates Recently
Issued Accounting Pronouncements — “Financial Instruments - Credit Losses
(Topic 326),” “Financial Instruments - Credit Losses
(Topic 326) and Leases (Topic 842).” In
January 2020, the FASB issued ASU 2020-01, “Investments - Equity Securities (Topic 321), Investments - Equity Method and Joint
Ventures (Topic 323), and Derivatives and Hedging (Topic 815) - Clarifying the Interactions between Topic 321, Topic 323, and Topic 815.”
The ASU is based on a consensus of the Emerging Issues Task Force and is expected to increase comparability in accounting for these transactions.
ASU 2016-01 made targeted improvements to accounting for financial instruments, including providing an entity the ability to measure
certain equity securities without a readily determinable fair value at cost, less any impairment, plus or minus changes resulting from
observable price changes in orderly transactions for the identical or a similar investment of the same issuer. Among other topics, the
amendments clarify that an entity should consider observable transactions that require it to either apply or discontinue the equity method
of accounting. ASU 2020-01 deals with changes in the significant influence of derivative and investments, of which the Company has
none and became effective for the Company in the first quarter of 2021. The adoption of this standard did not have any impact on
the Company’s condensed financial statements. There
are no other new accounting pronouncements that are expected to have a significant impact on our financial statements.

Investments

Investments6 Months Ended
Oct. 31, 2021
Investments, Debt and Equity Securities [Abstract]
InvestmentsNote
2 Investments The
Company has investments in publicly traded equity securities, state and municipal debt securities, real estate investment trusts, and
money markets. The investments in debt securities, which include municipal bonds and bond funds, mature between June 2022 and January
2044. As
of October 31, 2021 and April 30, 2021, investments consisted of the following: Schedule of Investments
Investments at Gross Gross
October 31, 2021 Cost Unrealized Unrealized Fair
Basis Gains Losses Value
Municipal bonds $ 5,790,000 $ 155,000 $ (51,000 ) $ 5,894,000
REITs 131,000 15,000 (6,000 ) 140,000
Equity securities 17,835,000 10,373,000 (114,000 ) 28,094,000
Money markets and CDs 281,000 — — 281,000
Total $ 24,037,000 $ 10,543,000 $ (171,000 ) $ 34,409,000
Investments at Gross Gross
April 30, 2021 Cost Unrealized Unrealized Fair
Basis Gains Losses Value
Municipal bonds $ 5,854,000 $ 198,000 $ (43,000 ) $ 6,009,000
REITs 131,000 11,000 (5,000 ) 137,000
Equity securities 17,199,000 9,294,000 (74,000 ) 26,419,000
Money markets and CDs 772,000 — — 772,000
Total $ 23,956,000 $ 9,503,000 $ (122,000 ) $ 33,337,000 Marketable
securities that are classified as equity securities are carried at fair value on the balance sheets with changes in fair value recorded
as an unrealized gain or (loss) in the statements of income in the period of the change. Upon the disposition of a marketable security,
the Company records a realized gain or (loss) on the Company’s statements of income. The
Company evaluates all marketable securities for other-than-temporary declines in fair value, which are defined as when the cost basis
exceeds the fair value for approximately one year. The Company also evaluates the nature of the investment, cause of impairment and number
of investments that are in an unrealized position. When an “other-than-temporary” decline is identified, the Company will
decrease the cost of the marketable security to the new fair value and recognize a real loss. The investments are periodically evaluated
to determine if impairment changes are required. As a result of this standard, there were no 52,000 79,000 The
Company’s investments are actively traded in the stock and bond markets. Therefore, either a realized gain or loss is recorded
when a sale happens. For the quarter ended October 31, 2021 the Company had sales of equity securities which yielded gross realized gains
of $ 106,000 26,000 no 343,000 33,000 no 10,000 184,000 110,000 no 2,000 286,000 236,000 no 6,000 The
following table shows the investments with unrealized losses that are not deemed to be “other-than-temporarily impaired”,
aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at
October 31, 2021 and April 30, 2021, respectively. Schedule of Unrealized Loss Breakdown by Investment Unrealized
Loss Breakdown by Investment Type at October 31, 2021
Description Less than 12 months, Fair Value Less than 12 months, Unrealized Loss 12 months or greater, Fair Value 12 months or greater, Unrealized Loss Total, Fair Value Total, Unrealized Loss
Less than 12 months 12 months or greater Total
Description Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss
Municipal bonds $ 699,000 $ (17,000 ) $ 305,000 $ (34,000 ) $ 1,004,000 $ (51,000 )
REITs — — 23,000 (6,000 ) 23,000 (6,000 )
Equity securities 739,000 (61,000 ) 316,000 (53,000 ) 1,055,000 (114,000 )
Total $ 1,438,000 $ (78,000 ) $ 644,000 $ (93,000 ) $ 2,082,000 $ (171,000 ) Unrealized
Loss Breakdown by Investment Type at April 30, 2021
Description Less than 12 months, Fair Value Less than 12 months, Unrealized Loss 12 months or greater, Fair Value 12 months or greater, Unrealized Loss Total, Fair Value Total, Unrealized Loss
Less than 12 months 12 months or greater Total
Description Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss
Municipal bonds $ 390,000 $ (6,000 ) $ 365,000 $ (37,000 ) $ 755,000 $ (43,000 )
REITs — — 23,000 (5,000 ) 23,000 (5,000 )
Equity securities 340,000 (35,000 ) 377,000 (39,000 ) 717,000 (74,000 )
Total $ 730,000 $ (41,000 ) $ 765,000 $ (81,000 ) $ 1,495,000 $ (122,000 ) Municipal
Bonds The
unrealized losses on the Company’s investments in municipal bonds were caused by interest rate increases. The contractual terms
of these investments do not permit the issuer to settle the securities at a price less than the amortized cost of the investment. Because
the Company has the ability to hold these investments until a recovery of fair value, which may be maturity, the Company does not consider
these investments to be other-than-temporarily impaired at October 31, 2021. Marketable
Equity Securities and REITs The
Company’s investments in marketable equity securities and REITs consist of a wide variety of companies. Investments in these companies
include growth, growth income, and foreign investment objectives. The individual holdings have been evaluated, and due to management’s
plan to hold on to these investments for an extended period, the Company does not consider these investments to be other-than-temporarily
impaired at October 31, 2021.

Inventories

Inventories6 Months Ended
Oct. 31, 2021
Inventory Disclosure [Abstract]
InventoriesNote
3 Inventories Inventories
at October 31, 2021 and April 30, 2021 consisted of the following: Schedule of Inventories
October 31, April 30,
2021 2021
Raw materials $ 5,703,000 $ 4,399,000
Work in process 657,000 457,000
Finished goods 965,000 768,000
Inventory in transit — 173,000
Inventory gross 7,325,000 5,797,000
Less: allowance for obsolete inventory (248,000 ) (175,000 )
Inventories, net $ 7,077,000 $ 5,622,000

Business Segments

Business Segments6 Months Ended
Oct. 31, 2021
Segment Reporting [Abstract]
Business SegmentsNote
4 Business Segments The
following is financial information relating to industry segments: Schedule of Financial Information Relating to Industry Segments
Three months Three months Six months Six months
ended ended ended ended
Oct 31, 2021 Oct 31, 2020 Oct 31, 2021 Oct 31, 2020
Net revenue:
Security alarm products $ 4,546,000 $ 3,632,000 $ 8,803,000 $ 6,962,000
Cable & wiring tools 518,000 620,000 1,056,000 1,019,000
Other products 180,000 395,000 340,000 713,000
Total net revenue $ 5,244,000 $ 4,647,000 $ 10,199,000 $ 8,694,000
Income from operations:
Security alarm products $ 1,229,000 $ 1,092,000 $ 2,550,000 $ 2,042,000
Cable & wiring tools 147,000 160,000 306,000 299,000
Other products 48,000 112,000 98,000 209,000
Total income from operations $ 1,424,000 $ 1,364,000 $ 2,954,000 $ 2,550,000
Depreciation and amortization:
Security alarm products $ 39,000 $ 39,000 $ 74,000 $ 61,000
Cable & wiring tools 31,000 31,000 62,000 61,000
Other products 19,000 14,000 42,000 27,000
Corporate general 16,000 19,000 35,000 40,000
Total depreciation and amortization $ 105,000 $ 103,000 $ 213,000 $ 189,000
Capital expenditures:
Security alarm products $ — $ 149,000 $ 40,000 $ 242,000
Cable & wiring tools — — — —
Other products — 111,000 — 113,000
Corporate general — 6,000 — 6,000
Total capital expenditures $ — $ 266,000 $ 40,000 $ 361,000
October 31, 2021 April 30, 2021
Identifiable assets:
Security alarm products $ 10,169,000 $ 8,955,000
Cable & wiring tools 2,439,000 2,534,000
Other products 666,000 667,000
Corporate general 42,165,000 41,980,000
Total assets $ 55,439,000 $ 54,136,000

Earnings per Share

Earnings per Share6 Months Ended
Oct. 31, 2021
Income Per Share of Common Stock
Earnings per ShareNote
5 Earnings per Share Basic
and diluted earnings per share, assuming convertible preferred stock was converted for each period presented, are: Schedule of Basic and Diluted Earnings per Share
For the three months ended October 31, 2021
Income Shares Per-Share
(Numerator) (Denominator) Amount
Net income $ 1,688,000
Basic EPS $ 1,688,000 4,945,130 $ .34
Effect of dilutive Convertible Preferred Stock – 20,500 —
Diluted EPS $ 1,688,000 4,965,630 $ .34
For the three months ended October 31, 2020
Income Shares Per-Share
(Numerator) (Denominator) Amount
Net income $ 860,000
Basic EPS $ 860,000 4,949,902 $ .17
Effect of dilutive Convertible Preferred Stock – 20,500 —
Diluted EPS $ 860,000 4,970,402 $ .17
For the six months ended October 31, 2021
Income Shares Per-Share
(Numerator) (Denominator) Amount
Net income $ 3,434,000
Basic EPS $ 3,434,000 4,945,795 $ .69
Effect of dilutive Convertible Preferred Stock – 20,500 —
Diluted EPS $ 3,434,000 4,966,295 $ .69
For the six months ended October 31, 2020
Income Shares Per-Share
(Numerator) (Denominator) Amount
Net income $ 3,352,000
Basic EPS $ 3,352,000 4,949,914 $ .68
Effect of dilutive Convertible Preferred Stock – 20,500 —
Diluted EPS $ 3,352,000 4,970,414 $ .67

Retirement Benefit Plan

Retirement Benefit Plan6 Months Ended
Oct. 31, 2021
Retirement Benefits [Abstract]
Retirement Benefit PlanNote
6 Retirement Benefit Plan On
January 1, 1998, the Company adopted the George Risk Industries, Inc. Retirement Savings Plan (the “Plan”). The Plan is a
defined contribution savings plan designed to provide retirement income to eligible employees of the Company. The Plan is intended to
be qualified under Section 401(k) of the Internal Revenue Code of 1986, as amended. It is funded by voluntary pre-tax and Roth (taxable)
contributions from eligible employees who may contribute a percentage of their eligible compensation, limited and subject to statutory
limits. Employees are eligible to participate in the Plan when they have attained the age of 21 and completed one thousand hours of service
in any plan year with the Company. 100 six-year 15,000 16,000 33,000 29,000

Fair Value Measurements

Fair Value Measurements6 Months Ended
Oct. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value MeasurementsNote
7 Fair Value Measurements The
carrying value of the Company’s cash and cash equivalents, accounts receivable and accounts payable approximate their fair value
due to their short-term nature. The fair value of our investments is determined utilizing market-based information. Fair value is the
price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants
at the measurement date. When determining the fair value measurements for assets and liabilities, which are required to be recorded at
fair value, we consider the principal or most advantageous market in which we would transact and the market-based risk measurements or
assumptions that market participants would use in pricing the asset or liability, such as inherent risk, transfer restrictions, and credit
risk. US
GAAP establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy
gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurement) and
the lowest priority to unobservable inputs (level 3 measurements). The levels of the fair value hierarchy under US GAAP are described
below:
Level
1 Valuation
is based upon quoted prices for identical instruments traded in active markets.
Level
2 Valuation
is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets
that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market.
Level
3 Valuation
is generated from model-based techniques that use significant assumptions not observable in the market. These unobservable assumptions
reflect our own estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques
include use of option pricing models, discounted cash flow models and similar techniques. Investments
and Marketable Securities As
of October 31, 2021, our investments consisted of money markets, publicly traded equity securities, real estate investment trusts (REITs)
as well as certain state and municipal debt securities. The marketable securities are valued using third-party broker statements. The
value of the majority of securities is derived from quoted market information. The inputs to the valuation are generally classified as
Level 1 given the active market for these securities, however, if an active market does not exist, which is the case for municipal bonds
and REITs, the inputs are recorded as Level 2. Fair
Value Hierarchy The
following table sets forth our assets and liabilities measured at fair value on a recurring basis and a non-recurring basis by level
within the fair value hierarchy. As required by US GAAP, assets and liabilities are classified in their entirety based on the lowest
level of input that is significant to the fair value measurement. Schedule of Assets Measured at Fair Value on Recurring Basis
Level 1 Level 2 Level 3 Total
Assets Measured at Fair Value on a Recurring Basis as of
Level 1 Level 2 Level 3 Total
Assets:
Municipal Bonds $ — $ 5,894,000 $ — $ 5,894,000
REITs — 140,000 — 140,000
Equity Securities 28,094,000 — — 28,094,000
Money Markets and CDs 281,000 — — 281,000
Total fair value of assets measured on a recurring basis $ 28,375,000 $ 6,034,000 $ — $ 34,409,000
Level 1 Level 2 Level 3 Total
Assets Measured at Fair Value on a Recurring Basis as of
Level 1 Level 2 Level 3 Total
Assets:
Municipal Bonds $ — $ 6,009,000 $ — $ 6,009,000
REITs — 137,000 — 137,000
Equity Securities 26,419,000 — — 26,419,000
Money Markets and CDs 772,000 — — 772,000
Total fair value of assets measured on a recurring basis $ 27,191,000 $ 6,146,000 $ — $ 33,337,000

Subsequent Events

Subsequent Events6 Months Ended
Oct. 31, 2021
Subsequent Events [Abstract]
Subsequent EventsNote
8 Subsequent Events None

Investments (Tables)

Investments (Tables)6 Months Ended
Oct. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Schedule of InvestmentsAs
of October 31, 2021 and April 30, 2021, investments consisted of the following: Schedule of Investments
Investments at Gross Gross
October 31, 2021 Cost Unrealized Unrealized Fair
Basis Gains Losses Value
Municipal bonds $ 5,790,000 $ 155,000 $ (51,000 ) $ 5,894,000
REITs 131,000 15,000 (6,000 ) 140,000
Equity securities 17,835,000 10,373,000 (114,000 ) 28,094,000
Money markets and CDs 281,000 — — 281,000
Total $ 24,037,000 $ 10,543,000 $ (171,000 ) $ 34,409,000
Investments at Gross Gross
April 30, 2021 Cost Unrealized Unrealized Fair
Basis Gains Losses Value
Municipal bonds $ 5,854,000 $ 198,000 $ (43,000 ) $ 6,009,000
REITs 131,000 11,000 (5,000 ) 137,000
Equity securities 17,199,000 9,294,000 (74,000 ) 26,419,000
Money markets and CDs 772,000 — — 772,000
Total $ 23,956,000 $ 9,503,000 $ (122,000 ) $ 33,337,000
Schedule of Unrealized Loss Breakdown by InvestmentThe
following table shows the investments with unrealized losses that are not deemed to be “other-than-temporarily impaired”,
aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at
October 31, 2021 and April 30, 2021, respectively. Schedule of Unrealized Loss Breakdown by Investment Unrealized
Loss Breakdown by Investment Type at October 31, 2021
Description Less than 12 months, Fair Value Less than 12 months, Unrealized Loss 12 months or greater, Fair Value 12 months or greater, Unrealized Loss Total, Fair Value Total, Unrealized Loss
Less than 12 months 12 months or greater Total
Description Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss
Municipal bonds $ 699,000 $ (17,000 ) $ 305,000 $ (34,000 ) $ 1,004,000 $ (51,000 )
REITs — — 23,000 (6,000 ) 23,000 (6,000 )
Equity securities 739,000 (61,000 ) 316,000 (53,000 ) 1,055,000 (114,000 )
Total $ 1,438,000 $ (78,000 ) $ 644,000 $ (93,000 ) $ 2,082,000 $ (171,000 ) Unrealized
Loss Breakdown by Investment Type at April 30, 2021
Description Less than 12 months, Fair Value Less than 12 months, Unrealized Loss 12 months or greater, Fair Value 12 months or greater, Unrealized Loss Total, Fair Value Total, Unrealized Loss
Less than 12 months 12 months or greater Total
Description Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss
Municipal bonds $ 390,000 $ (6,000 ) $ 365,000 $ (37,000 ) $ 755,000 $ (43,000 )
REITs — — 23,000 (5,000 ) 23,000 (5,000 )
Equity securities 340,000 (35,000 ) 377,000 (39,000 ) 717,000 (74,000 )
Total $ 730,000 $ (41,000 ) $ 765,000 $ (81,000 ) $ 1,495,000 $ (122,000 )

Inventories (Tables)

Inventories (Tables)6 Months Ended
Oct. 31, 2021
Inventory Disclosure [Abstract]
Schedule of InventoriesInventories
at October 31, 2021 and April 30, 2021 consisted of the following: Schedule of Inventories
October 31, April 30,
2021 2021
Raw materials $ 5,703,000 $ 4,399,000
Work in process 657,000 457,000
Finished goods 965,000 768,000
Inventory in transit — 173,000
Inventory gross 7,325,000 5,797,000
Less: allowance for obsolete inventory (248,000 ) (175,000 )
Inventories, net $ 7,077,000 $ 5,622,000

Business Segments (Tables)

Business Segments (Tables)6 Months Ended
Oct. 31, 2021
Segment Reporting [Abstract]
Schedule of Financial Information Relating to Industry SegmentsThe
following is financial information relating to industry segments: Schedule of Financial Information Relating to Industry Segments
Three months Three months Six months Six months
ended ended ended ended
Oct 31, 2021 Oct 31, 2020 Oct 31, 2021 Oct 31, 2020
Net revenue:
Security alarm products $ 4,546,000 $ 3,632,000 $ 8,803,000 $ 6,962,000
Cable & wiring tools 518,000 620,000 1,056,000 1,019,000
Other products 180,000 395,000 340,000 713,000
Total net revenue $ 5,244,000 $ 4,647,000 $ 10,199,000 $ 8,694,000
Income from operations:
Security alarm products $ 1,229,000 $ 1,092,000 $ 2,550,000 $ 2,042,000
Cable & wiring tools 147,000 160,000 306,000 299,000
Other products 48,000 112,000 98,000 209,000
Total income from operations $ 1,424,000 $ 1,364,000 $ 2,954,000 $ 2,550,000
Depreciation and amortization:
Security alarm products $ 39,000 $ 39,000 $ 74,000 $ 61,000
Cable & wiring tools 31,000 31,000 62,000 61,000
Other products 19,000 14,000 42,000 27,000
Corporate general 16,000 19,000 35,000 40,000
Total depreciation and amortization $ 105,000 $ 103,000 $ 213,000 $ 189,000
Capital expenditures:
Security alarm products $ — $ 149,000 $ 40,000 $ 242,000
Cable & wiring tools — — — —
Other products — 111,000 — 113,000
Corporate general — 6,000 — 6,000
Total capital expenditures $ — $ 266,000 $ 40,000 $ 361,000
October 31, 2021 April 30, 2021
Identifiable assets:
Security alarm products $ 10,169,000 $ 8,955,000
Cable & wiring tools 2,439,000 2,534,000
Other products 666,000 667,000
Corporate general 42,165,000 41,980,000
Total assets $ 55,439,000 $ 54,136,000

Earnings per Share (Tables)

Earnings per Share (Tables)6 Months Ended
Oct. 31, 2021
Income Per Share of Common Stock
Schedule of Basic and Diluted Earnings per ShareBasic
and diluted earnings per share, assuming convertible preferred stock was converted for each period presented, are: Schedule of Basic and Diluted Earnings per Share
For the three months ended October 31, 2021
Income Shares Per-Share
(Numerator) (Denominator) Amount
Net income $ 1,688,000
Basic EPS $ 1,688,000 4,945,130 $ .34
Effect of dilutive Convertible Preferred Stock – 20,500 —
Diluted EPS $ 1,688,000 4,965,630 $ .34
For the three months ended October 31, 2020
Income Shares Per-Share
(Numerator) (Denominator) Amount
Net income $ 860,000
Basic EPS $ 860,000 4,949,902 $ .17
Effect of dilutive Convertible Preferred Stock – 20,500 —
Diluted EPS $ 860,000 4,970,402 $ .17
For the six months ended October 31, 2021
Income Shares Per-Share
(Numerator) (Denominator) Amount
Net income $ 3,434,000
Basic EPS $ 3,434,000 4,945,795 $ .69
Effect of dilutive Convertible Preferred Stock – 20,500 —
Diluted EPS $ 3,434,000 4,966,295 $ .69
For the six months ended October 31, 2020
Income Shares Per-Share
(Numerator) (Denominator) Amount
Net income $ 3,352,000
Basic EPS $ 3,352,000 4,949,914 $ .68
Effect of dilutive Convertible Preferred Stock – 20,500 —
Diluted EPS $ 3,352,000 4,970,414 $ .67

Fair Value Measurements (Tables

Fair Value Measurements (Tables)6 Months Ended
Oct. 31, 2021
Fair Value Disclosures [Abstract]
Schedule of Assets Measured at Fair Value on Recurring BasisThe
following table sets forth our assets and liabilities measured at fair value on a recurring basis and a non-recurring basis by level
within the fair value hierarchy. As required by US GAAP, assets and liabilities are classified in their entirety based on the lowest
level of input that is significant to the fair value measurement. Schedule of Assets Measured at Fair Value on Recurring Basis
Level 1 Level 2 Level 3 Total
Assets Measured at Fair Value on a Recurring Basis as of
Level 1 Level 2 Level 3 Total
Assets:
Municipal Bonds $ — $ 5,894,000 $ — $ 5,894,000
REITs — 140,000 — 140,000
Equity Securities 28,094,000 — — 28,094,000
Money Markets and CDs 281,000 — — 281,000
Total fair value of assets measured on a recurring basis $ 28,375,000 $ 6,034,000 $ — $ 34,409,000
Level 1 Level 2 Level 3 Total
Assets Measured at Fair Value on a Recurring Basis as of
Level 1 Level 2 Level 3 Total
Assets:
Municipal Bonds $ — $ 6,009,000 $ — $ 6,009,000
REITs — 137,000 — 137,000
Equity Securities 26,419,000 — — 26,419,000
Money Markets and CDs 772,000 — — 772,000
Total fair value of assets measured on a recurring basis $ 27,191,000 $ 6,146,000 $ — $ 33,337,000

Schedule of Investments (Detail

Schedule of Investments (Details) - USD ($)6 Months Ended12 Months Ended
Oct. 31, 2021Apr. 30, 2021
Net Investment Income [Line Items]
Cost Basis $ 24,037,000 $ 23,956,000
Gross Unrealized Gains10,543,000 9,503,000
Gross Unrealized Losses(171,000)(122,000)
Fair Value34,409,000 33,337,000
Municipal Bonds [Member]
Net Investment Income [Line Items]
Cost Basis5,790,000 5,854,000
Gross Unrealized Gains155,000 198,000
Gross Unrealized Losses(51,000)(43,000)
Fair Value5,894,000 6,009,000
Real Estate Investment [Member]
Net Investment Income [Line Items]
Cost Basis131,000 131,000
Gross Unrealized Gains15,000 11,000
Gross Unrealized Losses(6,000)(5,000)
Fair Value140,000 137,000
Equity Securities [Member]
Net Investment Income [Line Items]
Cost Basis17,835,000 17,199,000
Gross Unrealized Gains10,373,000 9,294,000
Gross Unrealized Losses(114,000)(74,000)
Fair Value28,094,000 26,419,000
Money Markets and CDs [Member]
Net Investment Income [Line Items]
Cost Basis281,000 772,000
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value $ 281,000 $ 772,000

Schedule of Unrealized Loss Bre

Schedule of Unrealized Loss Breakdown by Investment (Details) - USD ($)Oct. 31, 2021Apr. 30, 2021
Net Investment Income [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months $ 1,438,000 $ 730,000
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss(78,000)(41,000)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer644,000 765,000
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss(93,000)(81,000)
Debt Securities, Available-for-sale, Unrealized Loss Position2,082,000 1,495,000
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss(171,000)(122,000)
Municipal Bonds [Member]
Net Investment Income [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months699,000 390,000
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss(17,000)(6,000)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer305,000 365,000
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss(34,000)(37,000)
Debt Securities, Available-for-sale, Unrealized Loss Position1,004,000 755,000
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss(51,000)(43,000)
Real Estate Investment [Member]
Net Investment Income [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer23,000 23,000
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss(6,000)(5,000)
Debt Securities, Available-for-sale, Unrealized Loss Position23,000 23,000
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss(6,000)(5,000)
Equity Securities [Member]
Net Investment Income [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months739,000 340,000
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss(61,000)(35,000)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer316,000 377,000
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss(53,000)(39,000)
Debt Securities, Available-for-sale, Unrealized Loss Position1,055,000 717,000
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss $ (114,000) $ (74,000)

Investments (Details Narrative)

Investments (Details Narrative) - USD ($)3 Months Ended6 Months Ended
Oct. 31, 2021Oct. 31, 2020Oct. 31, 2021Oct. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Available-for-sale debt securities maturity year descriptionThe investments in debt securities, which include municipal bonds and bond funds, mature between June 2022 and January
2044.
Impairment loss $ 52,000 $ 79,000
Equity securities of gross realized gain106,000 184,000 343,000 286,000
Equity securities of gross realized losses26,000 110,000 33,000 236,000
Debt securities of gross realized gains0 0 0 0
Debt securities of gross realized losses $ 0 $ 2,000 $ 10,000 $ 6,000

Schedule of Inventories (Detail

Schedule of Inventories (Details) - USD ($)Oct. 31, 2021Apr. 30, 2021
Inventory Disclosure [Abstract]
Raw materials $ 5,703,000 $ 4,399,000
Work in process657,000 457,000
Finished goods965,000 768,000
Inventory in transit 173,000
Inventory gross7,325,000 5,797,000
Less: allowance for obsolete inventory(248,000)(175,000)
Inventories, net $ 7,077,000 $ 5,622,000

Schedule of Financial Informati

Schedule of Financial Information Relating to Industry Segments (Details) - USD ($)3 Months Ended6 Months Ended
Oct. 31, 2021Oct. 31, 2020Oct. 31, 2021Oct. 31, 2020Apr. 30, 2021
Segment Reporting Information [Line Items]
Total net revenue $ 5,244,000 $ 4,647,000 $ 10,199,000 $ 8,694,000
Total income from operations1,424,000 1,364,000 2,954,000 2,550,000
Total depreciation and amortization105,000 103,000 213,000 189,000
Total capital expenditures 266,000 40,000 361,000
Total assets55,439,000 55,439,000 $ 54,136,000
Security Alarm Products [Member]
Segment Reporting Information [Line Items]
Total net revenue4,546,000 3,632,000 8,803,000 6,962,000
Total income from operations1,229,000 1,092,000 2,550,000 2,042,000
Total depreciation and amortization39,000 39,000 74,000 61,000
Total capital expenditures 149,000 40,000 242,000
Total assets10,169,000 10,169,000 8,955,000
Cable & Wiring Tools [Member]
Segment Reporting Information [Line Items]
Total net revenue518,000 620,000 1,056,000 1,019,000
Total income from operations147,000 160,000 306,000 299,000
Total depreciation and amortization31,000 31,000 62,000 61,000
Total capital expenditures
Total assets2,439,000 2,439,000 2,534,000
Other Products [Member]
Segment Reporting Information [Line Items]
Total net revenue180,000 395,000 340,000 713,000
Total income from operations48,000 112,000 98,000 209,000
Total depreciation and amortization19,000 14,000 42,000 27,000
Total capital expenditures 111,000 113,000
Total assets666,000 666,000 667,000
Corporate General [Member]
Segment Reporting Information [Line Items]
Total depreciation and amortization16,000 19,000 35,000 40,000
Total capital expenditures $ 6,000 $ 6,000
Total assets $ 42,165,000 $ 42,165,000 $ 41,980,000

Schedule of Basic and Diluted E

Schedule of Basic and Diluted Earnings per Share (Details) - USD ($)3 Months Ended6 Months Ended
Oct. 31, 2021Oct. 31, 2020Oct. 31, 2021Oct. 31, 2020
Income Per Share of Common Stock
Net income $ 1,688,000 $ 860,000 $ 3,434,000 $ 3,352,000
Basic EPS, Income $ 1,688,000 $ 860,000 $ 3,434,000 $ 3,352,000
Basic EPS, Shares4,945,130 4,949,902 4,945,795 4,949,914
Basic EPS, Per-share $ 0.34 $ 0.17 $ 0.69 $ 0.68
Effect of dilutive Convertible Preferred Stock, Income
Effect of dilutive Convertible Preferred Stock, Shares20,500 20,500 20,500 20,500
Effect of dilutive Convertible Preferred Stock, Per-share
Diluted EPS, Income $ 1,688,000 $ 860,000 $ 3,434,000 $ 3,352,000
Diluted EPS, Shares4,965,630 4,970,402 4,966,295 4,970,414
Diluted EPS, Per-share $ 0.34 $ 0.17 $ 0.69 $ 0.67

Retirement Benefit Plan (Detail

Retirement Benefit Plan (Details Narrative) - USD ($)Jan. 01, 1998Oct. 31, 2021Oct. 31, 2020Oct. 31, 2021Oct. 31, 2020
Retirement Benefits [Abstract]
Description of employees eligibilityEmployees are eligible to participate in the Plan when they have attained the age of 21 and completed one thousand hours of service
in any plan year with the Company.
Employees vesting percentage100.00%
Employer matching contribution vesting period6 years
Employees matching contributions $ 15,000 $ 16,000 $ 33,000 $ 29,000

Schedule of Assets Measured at

Schedule of Assets Measured at Fair Value on Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($)Oct. 31, 2021Apr. 30, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis $ 34,409,000 $ 33,337,000
Municipal Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis5,894,000 6,009,000
Real Estate Investment [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis140,000 137,000
Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis28,094,000 26,419,000
Money Markets and CDs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis281,000 772,000
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis28,375,000 27,191,000
Fair Value, Inputs, Level 1 [Member] | Municipal Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis
Fair Value, Inputs, Level 1 [Member] | Real Estate Investment [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis
Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis28,094,000 26,419,000
Fair Value, Inputs, Level 1 [Member] | Money Markets and CDs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis281,000 772,000
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis6,034,000 6,146,000
Fair Value, Inputs, Level 2 [Member] | Municipal Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis5,894,000 6,009,000
Fair Value, Inputs, Level 2 [Member] | Real Estate Investment [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis140,000 137,000
Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis
Fair Value, Inputs, Level 2 [Member] | Money Markets and CDs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis
Fair Value, Inputs, Level 3 [Member] | Municipal Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis
Fair Value, Inputs, Level 3 [Member] | Real Estate Investment [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis
Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis
Fair Value, Inputs, Level 3 [Member] | Money Markets and CDs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of assets measured on a recurring basis