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FAIR VALUE MEASUREMENTS (Tables)
 9 Months Ended
Sep. 30, 2023
Fair Value Disclosures [Abstract]  
SCHEDULE OF FAIR VALUE MEASUREMENTS OF FINANCIAL ASSETS

The following table details the fair value measurements of the Company’s financial assets:

   Total   Level 1   Level 2   Level 3 
       Fair Value Measurement at September 30, 2023 Using: 
   Total   Level 1   Level 2   Level 3 
Cash and cash equivalents and restricted cash  $10,099,675   $10,099,675   $—   $— 
U.S. government securities   4,438,315    —    4,438,315    — 
Certificates of deposit   7,172,170    7,172,170    —    — 
Equity investments   4,603,014    169,112    —    4,433,902 
Financial instruments, owned, at fair value  $26,313,174   $17,440,957   $4,438,315   $4,433,902 

 

   Total   Level 1   Level 2   Level 3 
       Fair Value Measurement at December 31, 2022 Using: 
   Total   Level 1   Level 2   Level 3 
Cash and cash equivalents  $8,258,878   $8,258,878   $—   $— 
U.S. government securities   2,397,730    —    2,397,730    — 
Corporate debt   1,500,445    —    1,500,445    — 
Certificates of deposit   490,603    490,603    —    — 
Equity investments   7,721,206    213,016    —    7,508,190 
Financial instruments, owned, at fair value  $20,368,862   $8,962,497   $3,898,175   $7,508,190 
SCHEDULE OF FAIR VALUE, LIABILITIES MEASURED ON RECURRING BASIS

Transfers between levels of the fair value hierarchy are reported at the beginning of the reporting period in which they occur. Changes in Level 3 investments were as follows:

   December 31, 2022   Net unrealized losses   Foreign
currency
losses		   Purchases, issuances
and settlements		   September 30,
2023		 
Equity investments  $7,508,190   $(3,327,347)  $(186,395)  $439,454   $4,433,902