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Investments (Tables) | 9 Months Ended
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Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract] |
Schedule of investments in short-term marketable debt securities | The fair value and amortized cost of investments in short-term marketable debt securities by major security type as of September 30, 2024 are as follows:
|  | Amortized cost |  | Gross unrealized gains |  | Gross unrealized losses |  | Fair value
Eurocommercial Papers |  | $ | 87,231,307 |  |  | $ | 1,840,793 |  |  | $ | — |  |  | $ | 89,072,100 |
Certificates of Deposit |  | 87,602,179 |  |  | 1,388,921 |  |  | — |  |  | 88,991,100 |
Total |  | $ | 174,833,486 |  | $ | 3,229,714 |  | $ | — |  | $ | 178,063,200
Of which classified within cash and cash equivalents |  | 59,212,123 |  |  | 582,677 |  |  | — |  |  | 59,794,800 |
Of which classified within short-term marketable debt securities |  | 115,621,363 |  |  | 2,647,037 |  |  | — |  |  | 118,268,400 |
Schedule of fair value changes of marketable securities | The following table presents the changes in fair values of the Company’s short-term marketable debt securities, classified as Level 2 financial assets, and recognized in accumulated other comprehensive income:
Beginning balance, January 1, 2024 | $ | 2,720,854 |
Other comprehensive income before reclassifications | 13,000,645 |
Amounts reclassified from accumulated other comprehensive income | (12,491,785) |
Ending balance, September 30, 2024 | $ | 3,229,714

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