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Balance Sheet Components | 3 Months Ended
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Mar. 31, 2024
Balance Sheet Components [Abstract] |
Balance Sheet Components | 4. Balance Sheet Components Financial Instruments The Company’s short-term investments consisted of U.S. government treasury bills, which are accounted for as held-to-maturity (“HTM”) securities. HTM securities are carried at amortized cost and, as a result, are not remeasured to fair value on a recurring basis. As of March 31, 2024 and December 31, 2023, the amortized cost of the Company’s U.S. government treasury bills totaled $2.6 million and $4.6 million, respectively, which approximated its fair value based on Level 1 inputs. All of the Company’s short-term investments will mature within one year of March 31, 2024. The Company does not expect a credit loss for its short-term investments. Prepaid expenses and other current assets Prepaid expenses and other current assets are comprised of the following:
|  | March 31, 2024 |  |  | December 31, 2023 |
Inventory, net |  | $ | 70,280 |  |  | $ | - |
Prepaid expenses |  |  | 437,906 |  |  |  | 385,474 |
Security deposits |  |  | 175,191 |  |  |  | 155,729 |
Tax receivables |  |  | 763,624 |  |  |  | 765,697 |
Receivables and current assets |  |  | 55,114 |  |  |  | 9,526 |
Total prepaid and expenses and other current assets |  | $ | 1,502,115 |  |  | $ | 1,316,426 |
Property and Equipment, Net Property and equipment is comprised of the following:
|  | March 31, |  |  | December 31, |
|  | 2024 |  |  | 2023 |
Automobiles |  | $ | 656,997 |  |  | $ | 616,947 |
Furniture and fixtures |  |  | 178,491 |  |  |  | 178,491 |
Computer and equipment |  |  | 529,541 |  |  |  | 517,181 |
Capitalized software |  |  | 444,115 |  |  |  | 342,136 |
Leasehold improvements |  |  | 208,848 |  |  |  | 458,406 |
Construction work in progress |  |  | 518,255 |  |  |  | 208,848 |
Property and equipment, gross |  |  | 2,536,247 |  |  |  | 2,322,009 |
Less: accumulated depreciation |  |  | (883,865 | ) |  |  | (835,337 | )
Total property and equipment, net |  | $ | 1,652,382 |  |  | $ | 1,486,672 |
Depreciation expense for the three months ended March 31, 2024 and 2023 was $48,528 and $81,464, respectively. Accounts Payable Accounts payable includes independent director fees payable of $42,500 and $41,250 as of March 31, 2024 and December 31, 2023, respectively. Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities are comprised of the following:
|  | March 31, 2024 |  |  | December 31, 2023 |
Credit card payable |  | $ | 4,699 |  |  | $ | 1,103 |
Accrued expenses |  |  | 355,910 |  |  |  | 214,286 |
Accrued payroll |  |  | 359,630 |  |  |  | 985,753 |
Total accrued expenses and other current liabilities |  | $ | 720,239 |  |  | $ | 1,201,142 |

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/210/tableOfContent + Details
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