Annual report pursuant to Section 13 and 15(d)

FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES

v3.24.0.1
FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES
12 Months Ended
Dec. 31, 2023
Fair Value Disclosures [Abstract]  
FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES

5. FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES

 

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, 2023:

 

 

 

Level 1

 

Level 2

 

Level 3

 

Total

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

Cash Equivalents:

 

 

 

 

 

 

 

 

Money market funds

 

$7,832,675

 

$

 

$

 

$7,832,675

Corporate debt securities

 

 

1,862,273

 

 

1,862,273

Investments:

 

 

 

 

 

 

 

 

Corporate debt securities

 

 

7,182,325

 

 

7,182,325

 

$7,832,675

 

$9,044,598

 

$

 

$16,877,273

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

Derivative liabilities

 

$

 

$

 

$39,450

 

$39,450

 

 

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