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fair value of financial instruments (Tables)
 9 Months Ended
Sep. 30, 2021
Fair Value Disclosures [Abstract]  
The following table sets forth the Company’s financial instruments that were measured at fair value on a recurring basis by level within the fair value hierarchy:

The categorization of a financial instrument within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The following table sets forth the Company’s financial instruments that were measured at fair value on a recurring basis by level within the fair value hierarchy:

 

   Fair Value Measurement at September 30, 2021 
   Total   Level 1   Level 2   Level 3 

Investments in convertible promissory notes
of Avalanche International, Corp. (“AVLP”)
– a related party

  $

16,574,000

   $-   $-   $

16,574,000

 

Investment in term promissory note of Ault &
Company, Inc. (“Ault & Company”) – a
related party

   2,620,000    -    -    2,620,000 

Investments in common stock of AVLP – a
related party

   60,000    -    -    60,000 

Investment in common stock and warrants of
Alzamend Neuro, Inc. (“Alzamend”) – a
related party

   24,851,000    20,781,000    -    4,070,000 
Investments in marketable equity securities   49,931,000    49,931,000    -    - 
Investments in debt and equity securities   9,924,000    -    -    9,924,000 
Total Investments  $103,960,000   $70,712,000   $-   $33,248,000 

 

   Fair Value Measurement at December 31, 2020 
   Total   Level 1   Level 2   Level 3 
Investments in convertible promissory notes
and advances of AVLP and Alzamend –
related parties		  $10,668,000   $—   $—   $10,668,000 
Investments in common stock and warrants of
AVLP – a related party		   5,486,000    500,000    —    4,986,000 
Investment in common stock and warrants of
Alzamend – a related party		   653,000    —    —    653,000 
Investments in marketable equity securities   2,563,000    2,563,000    —    — 
Investments in debt and equity securities   262,000    —    —    262,000 
Total Investments  $19,632,000   $3,063,000   $—   $16,569,000 
The following table summarizes the changes in investments in debt and equity securities measured and carried at fair value on a recurring basis with the use of significant unobservable inputs (Level 3) for the nine months ended September 30, 2021:

The following table summarizes the changes in investments in debt and equity securities measured and carried at fair value on a recurring basis with the use of significant unobservable inputs (Level 3) for the nine months ended September 30, 2021:

 

   Investments in 
   debt and equity 
   securities 
Balance at January 1, 2021  $262,000 
Investment in convertible promissory notes   3,850,000 
Investment in convertible preferred stock   2,850,000 
Initial valuation of acquired warrants   2,673,000 
Change in fair value of warrants   995,000 
Conversion of loans to debt and equity securities   150,000 
Unrealized gains on debt and equity securities   1,800,000 
Conversion to marketable securities   (2,656,000)
Balance at September 30, 2021  $9,924,000