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Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2024

Accounting Policies [Abstract]

Schedule of Investment Securities

Investment securities are as follows:

Schedule of Investment Securities

		March 31, 2024				December 31, 2023
Investment securities, at amortized cost:
U.S Treasury Bills		$	21,381,362			$	24,658,611
Investment securities, at amortized cost		$	21,381,362			$	24,658,611

Schedule of Investment Securities Broker Dealer

Broker/Dealer Securities

Schedule of Investment Securities Broker Dealer

		March 31, 2024				December 31, 2023
Investment securities, at fair value:
Common stock of publicly traded companies		$	2,389,011			$	2,603,579
Warrants of publicly traded companies			2,610,226				3,168,055
Investment securities, at fair value		$	4,999,237			$	5,771,634

Schedule of Investment Securities Non Broker Dealer

Non-Broker/Dealer Securities

Schedule of Investment Securities Non Broker Dealer

		March 31, 2024				December 31, 2023
Investment securities, at cost less impairment
Simple agreement on future equities (not market listed)		$	200,000			$	200,000
Investment securities, at cost less impairment		$	200,000			$	200,000

Schedule of Amortized Cost, Unrealized Holding Loss and Fair Value of Held to Maturity Securities

The amortized cost, excluding gross unrealized holding loss and fair value of held to maturity securities on March 31, 2024 and December 31, 2023 are as follows:

Schedule of Amortized Cost, Unrealized Holding Loss and Fair Value of Held to Maturity Securities

		Amortized Cost as of March 31, 2024				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value (Level 1) as of March 31, 2024
U.S Treasury Bills maturing 04/04/24, 04/18/24, 04/23/24 and 6/11/24		$	21,381,362			$	1,035			$	-			$	21,382,397
Total assets		$	21,381,362			$	1,035			$	-			$	21,382,397

		Amortized Cost as of December 31, 2023				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value (Level 1) as of December 31, 2023
U.S Treasury Bills maturing 02/13/24, 04/04/24, 04/18/24 and 04/23/24		$	24,658,611			$	6,031			$	-			$	24,664,642
Total assets		$	24,658,611			$	6,031			$	-			$	24,664,642

Schedule of Fair Value of Financial Assets and Liabilities Measured at Fair Value On a Recurring Basis

The following table sets forth the fair value of the Company’s financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2024 except for the Level 3 investment that is recorded at cost:

Schedule of Fair Value of Financial Assets and Liabilities Measured at Fair Value On a Recurring Basis

Assets		Classification		Level 1				Level 2				Level 3				Total
Investment Securities (held by our licensed broker dealer)		Equity securities–- common stock		$	2,389,011			$	-			$	-			$	2,389,011
Investment Securities (held by our licensed broker dealer)		Warrants			-				17,680				2,592,546				2,610,226
Total assets measured at fair value (held by our licensed broker dealer)				$	2,389,011			$	17,680			$	2,592,546			$	4,999,237

The following table sets forth the fair value of the Company’s financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2023, except for the Level 3 investment that is recorded at cost:

Assets		Classification		Level 1				Level 2				Level 3				Total
Investment Securities (held by our licensed broker dealer)		Equity securities - common stock		$	2,603,579			$	-			$	-			$	2,603,579
Investment Securities (held by our licensed broker dealer)		Warrants			-				34,597				3,133,458				3,168,055
Total assets measured at fair value (held by our licensed broker dealer)				$	2,603,579			$	34,597			$	3,133,458			$	5,771,634

 

Schedule of Reconciliation of Fair Value Measurements Within Level 3 of Fair Value Hierarchy

Reconciliation of fair value measurements categorized within Level 3 of the fair value hierarchy:

Schedule of Reconciliation of Fair Value Measurements Within Level 3 of Fair Value Hierarchy

December 31, 2023		$	3,133,458
Receipt from investment banking fees			-
Realized gains			-
Unrealized losses			(540,912	)
Sales or distribution
Purchases			-
March 31, 2024		$	2,592,546
Ending Balance		$	2,592,546

Reconciliation of fair value measurements categorized within Level 3 of the fair value hierarchy:

December 31, 2022		$	-
Beginning Balance		$	-
Receipt from investment banking fees			2,645,620
Realized gains			-
Unrealized gains			652,925
Sales or distribution			(165,087	)
Purchases			-
December 31, 2023		$	3,133,458
Ending Balance		$	3,133,458

 

Schedule of Significant Unobservable Inputs Related to Material Components of Level 3 Warrants

The following table presents information about significant unobservable inputs related to material components of Level 3 warrants as of March 31, 2024.

Schedule of Significant Unobservable Inputs Related to Material Components of Level 3 Warrants

Assets		Fair Value				Valuation Techniques		Significant Unobservable Inputs		Range of Inputs				Weighted-Average
Warrants		$	2,592,546			Black Scholes		Volatility			96.26 -106.28	%			99.60	%

Schedule of Estimated Useful Lives of Property and Equipment

Schedule of Estimated Useful Lives of Property and Equipment

Laboratory equipment		5 years
Furniture and fixtures		7 years
Leasehold improvements		Lesser of the lease duration or the life of the improvements

Schedule of Property And Equipment

Property and equipment consist of the following as of March 31, 2024 and December 31, 2023, respectively:

Schedule of Property And Equipment

		March 31, 2024				December 31, 2023
Laboratory equipment		$	1,030,004			$	885,696
Furniture and fixtures			54,338				49,838
Developed software			107,458				113,114
Leasehold improvements			279,161				279,161
Total property and equipment			1,470,961				1,327,809
Less: Accumulated depreciation			(524,111	)			(461,319	)
Property and equipment, net		$	946,850			$	866,490

Schedule of Changes in Deferred Revenue

Schedule of Changes in Deferred Revenue

Balance as of December 31, 2022		$	-
Amounts billed but not recognized			-
Revenue recognized			-
Balance as of March 31, 2023			-
Amounts billed but not recognized			100,000
Revenue recognized			80,000
Balance as of December 31, 2023			20,000
Amounts billed but not recognized			-
Revenue recognized			-
Balance as of March 31, 2024		$	20,000

Summary of Grants Receivable Activity

Summary of grants receivable activity for the three-months ended March 31, 2024 and 2023, is presented below:

Summary of Grants Receivable Activity

		2024				2023
Balance at beginning of period		$	882,319			$	809,532
Grant costs expensed			674,158				766,867
Grants for equipment purchased			6,379				-
Grant fees			28,163				26,673
Grant funds received			(479,408	)			(590,418	)
Balance at end of period		$	1,111,611			$	1,012,654

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