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Pension Obligations
 3 Months Ended
Mar. 31, 2024
Pension Obligations  
Pension Obligations

10. Pension Obligations

Net pension obligation related to the Company’s defined benefit pension plan refers only to Swiss employees and as of March 31, 2024 and December 31, 2023, can be summarized as follows:

​

​

​

​

​

​

​

​

​

​

March 31, 

​

December 31, 

​

    

2024

    

2023

Reconciliation of funded status:

​

​

​

​

​

​

Funded status beginning of period

​

$

(307,454)

​

$

(157,580)

Expense

​

​

(37,976)

​

​

(149,309)

Employer contribution

​

​

30,118

​

​

143,599

Translation differences

​

​

21,740

​

​

(16,563)

Change in accumulated other comprehensive income

​

​

1,086

​

​

(127,601)

Funded status at end of period

​

$

(292,486)

​

$

(307,454)

​

​

​

​

​

​

​

Component of net periodic pension costs:

​

​

​

​

​

​

Service cost

​

$

35,923

​

$

144,565

Interest cost

​

​

3,734

​

​

19,264

Expected return on plan assets

​

​

(2,802)

​

​

(11,786)

Amortization of (gain)/losses

​

​

2,077

​

​

—

Amortization of prior service cost

​

​

(956)

​

​

(2,734)

Total

​

$

37,976

​

$

149,309

​

Service cost is reported in general and administrative expenses. All other components of net period costs are reported in interest income, net in the consolidated statement of operations.