Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES

v3.23.1
FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES
3 Months Ended
Mar. 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 March 31, 2023:

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash Equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

4,427,280

 

 

$

 

 

$

 

 

$

4,427,280

 

Investments:

 

 

 

 

 

 

 

 

 

 

 

 

Commercial paper

 

 

 

 

 

11,367,511

 

 

 

 

 

 

11,367,511

 

Corporate debt securities

 

 

 

 

 

25,535,052

 

 

 

 

 

 

25,535,052

 

 

$

4,427,280

 

 

$

36,902,563

 

 

$

 

 

$

41,329,843

 

 

 

 

 

 

 

 

 

 

 

 

 

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