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Note 5 - Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2024

Notes Tables

Fair Value, Assets Measured on Recurring Basis [Table Text Block]

		September 30, 2024
		(Level 1)				(Level 2)				(Level 3)
Assets
Cash equivalents (money market accounts)		$	6,171,726			$	—			$	—
Marketable securities:
Commercial paper		$	—			$	23,616,596			$	—
U.S. treasury bonds			—				9,410,740				—
U.S. government agency bonds			—				5,885,900				—
Total assets measured at fair value		$	6,171,726			$	38,913,236			$	—

		December 31, 2023
Assets
Cash equivalents (money market accounts)		$	7,792,846			$	—			$	—
Total assets measured at fair value		$	7,792,846			$	—			$	—

Marketable Securities [Table Text Block]

		Amortized Cost				Unrealized gains				Unrealized losses				Fair Value
Commercial paper		$	23,575,451			$	41,667			$	(522	)		$	23,616,596
U.S. treasury bonds			9,354,027				56,713				—				9,410,740
U.S. government agency bonds			5,860,596				25,304				—				5,885,900
Total		$	38,790,074			$	123,684			$	(522	)		$	38,913,236

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

		Nine Months Ended September 30,
		2023
Balance as of January 1, 2023		$	12,414,000
Fair value adjustment			(646,000	)
Balance as of June 30, 2023			11,768,000
Fair value adjustment			(4,778,251	)
Reclassification to additional paid in capital upon conversion			(6,989,749	)
Balance as of September 30, 2023		$	—

X

- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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X

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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Tabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets.

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No definition available.

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