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Investments
 3 Months Ended
Mar. 31, 2024
Investments, All Other Investments [Abstract]  
Investments

4. Investments

 

Debt securities for which the Company has the positive intent and ability to hold to maturity are classified as held-to-maturity and reported at historical cost adjusted for amortization of premiums and accretion of discounts. Expected credit losses, if any, are recorded through the establishment of an allowance for credit losses. All of the Company’s held-to-maturity investment securities are U.S. Treasury and agencies securities that are guaranteed or otherwise supported by the United States government and have no history of credit losses. Accordingly, the Company does not expect to incur any credit losses on held-to-maturity investment securities and has no allowance for credit losses recorded for these securities.

 

The following tables summarize the Company’s held-to-maturity investment securities at amortized cost as of March 31, 2024 and December 31, 2023:

 

                     
   March 31, 2024 
   Amortized Cost,
as Adjusted		   Gross
Unrealized
Holding Gains		   Gross
Unrealized
Holding Losses		   Estimated
Fair Value		 
                 
U.S. Treasury Bills  $146,447,843   $     -   $(2,059)  $146,445,784 
Total  $146,447,843   $-   $(2,059)  $146,445,784 

 

                     
   December 31, 2023 
   Amortized Cost,
as Adjusted		   Gross
Unrealized
Holding Gains		   Gross
Unrealized
Holding Losses		   Estimated
Fair Value		 
                 
U.S. Treasury Bills  $149,919,974   $30,995   $      -   $149,950,969 
Total  $149,919,974   $30,995   $-   $149,950,969 

 

The fair value of the Company’s held-to-maturity debt securities is determined based upon inputs, other than the quoted prices in active markets, that are observable either directly or indirectly and are classified as level 2 fair value instruments.