Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES (Tables)

v3.23.3
FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES (Tables)
 6 Months Ended
Jun. 30, 2023
Fair Value Disclosures [Abstract]  
SCHEDULE OF ASSETS AND LIABILITIES MEASURED AT FAIR VALUE ON RECURRING BASIS

The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values as of September 30, 2023:

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash Equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

5,227,911

 

 

$

—

 

 

$

—

 

 

$

5,227,911

 

Corporate debt securities

 

 

—

 

 

 

4,024,931

 

 

 

—

 

 

 

4,024,931

 

Investments:

 

 

 

 

 

 

 

 

 

 

 

 

Commercial paper

 

 

—

 

 

 

5,967,001

 

 

 

—

 

 

 

5,967,001

 

Corporate debt securities

 

 

—

 

 

 

11,517,436

 

 

 

—

 

 

 

11,517,436

 

 

$

5,227,911

 

 

$

21,509,368

 

 

$

—

 

 

$

26,737,279

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Derivative liabilities

 

$

—

 

 

$

—

 

 

$

36,868

 

 

$

36,868

 

 

 

The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values as of December 31, 2022:

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash Equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money Market funds

 

$

8,470,790

 

 

$

—

 

 

$

—

 

 

$

8,470,790

 

Commercial paper

 

 

—

 

 

 

1,494,538

 

 

 

—

 

 

 

1,494,538

 

Corporate debt securities

 

 

—

 

 

 

3,232,231

 

 

 

—

 

 

 

3,232,231

 

Investments:

 

 

 

 

 

 

 

 

 

 

 

 

Commercial paper

 

 

—

 

 

 

12,173,980

 

 

 

—

 

 

 

12,173,980

 

Corporate debt securities

 

 

—

 

 

 

30,020,316

 

 

 

—

 

 

 

30,020,316

 

 

$

8,470,790

 

 

$

46,921,065

 

 

$

—

 

 

$

55,391,855

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Derivative liabilities

 

$

—

 

 

$

—

 

 

$

36,868

 

 

$

36,868