XML 21 R10.htm IDEA: XBRL DOCUMENT

Note 4 - Cash, Cash Equivalents and Marketable Securities

9 Months Ended

Sep. 30, 2022

Cash, Cash Equivalents, and Marketable Securities [Text Block]

4.	Cash, cash equivalents and marketable securities

The following is a summary of the Company's cash and cash equivalents as of the dates indicated:

	September 30, 2022		December 31, 2021
Cash in banking institutions	$	1,276,935	$	30,308,075
Money market funds		4,317,557		7,005,483
Commercial paper		992,526		—
Total	$	6,587,018		37,313,558

The following is a summary of the Company's marketable securities as of September 30, 2022:

	Amortized cost		Unrealized gains		Unrealized losses			Fair Value
Commercial paper	$	15,357,565	$	—	$	(56,985	)	$	15,300,580
U.S. treasury bonds		4,000,330		—		(29,970	)		3,970,360
Total	$	19,357,895	$	—	$	(86,955	)	$	19,270,940

The Company did not have any marketable securities as of December 31, 2021. The Company's marketable securities generally have contractual maturity dates between 3 and 12 months. All of the Company’s marketable securities are in an unrealized loss position at September 30, 2022. Unrealized losses on marketable securities as of September 30, 2022 were not significant and were primarily due to changes in interest rates, and not due to increased credit risks associated with specific securities. Accordingly, no other-than-temporary impairment was recorded for the nine months ended September 30, 2022 and there were no realized gains or losses recorded during the nine months ended September 30, 2021.