At March 31, 2025, cash, cash equivalents, and marketable securities were comprised of:


	Carrying Amount		Unrecognized Gain		Unrecognized Loss			Estimated Fair Value		Cash and Cash Equivalents		Current Marketable Securities
Cash	$	26,371,961	$	—	$	—		$	26,371,961	$	26,371,961	$	—
Money market funds		23,978,656		—		—			23,978,656		23,978,656		—
Total cash and cash equivalents	$	50,350,617	$	—	$	—		$	50,350,617	$	50,350,617	$	—

U.S. government agency securities		39,705,862		2,426		(828	)		39,707,460		—		39,707,460
Available for sale marketable securities (1)		39,705,862		2,426		(828	)		39,707,460		—		39,707,460
Total cash, cash equivalents, and current marketable securities										$	50,350,617	$	39,707,460

(1)

Available for sale debt securities are reported at fair value with unrealized gains and losses reported net of taxes, if material, in other comprehensive income.

The contractual maturities of all cash equivalents and available for sale securities were less than one year at March 31, 2025.

At December 31, 2024, cash, cash equivalents, and marketable securities were comprised of:


	Carrying Amount		Unrecognized Gain		Estimated Fair Value		Cash and Cash Equivalents		Current Marketable Securities
Cash	$	23,734,013	$	—	$	23,734,013	$	23,734,013	$	—
Money market funds		30,793,079		—		30,793,079		30,793,079		—
Total cash and cash equivalents	$	54,527,092	$	—	$	54,527,092	$	54,527,092	$	—

U.S. government agency securities	$	46,586,738	$	37,442		46,624,180		—		46,624,180
Available for sale marketable securities (1)		46,586,738		—				—		46,624,180
Total cash, cash equivalents, and current marketable securities							$	54,527,092	$	46,624,180