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INVESTMENTS – RELATED PARTIES (Tables) | 12 Months Ended
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Dec. 31, 2022
Investments Related Parties |
Schedule of investment |
Schedule of investment |  |  |  |  |  |  |  |  |  |  |  |
|  | Interest |  | Due |  | December 31, |  |  | December 31, |
|  | Rate |  | Date |  | 2022 |  |  | 2021 |
Promissory note, related party |  | 8% |  | Dec. 31, 2023 |  | $ | 2,500,000 |  |  | $ | 2,500,000 |
Accrued interest receivable, related party |  |  |  |  |  |  | 368,000 |  |  |  | 170,000 |
Other |  |  |  |  |  |  | - |  |  |  | 172,000 |
Total investment in promissory notes and other, related parties – gross |  |  |  |  |  | $ | 2,868,000 |  |  | $ | 2,842,000 |
The Company recorded related party interest income of $0.2 million for each of the years ended December 31, 2022 and 2021 in interest income. Investment in Common Stock, Related Parties
|  | December 31, |  |  | December 31, |
|  | 2022 |  |  | 2021 |
Total investment in common stock of Alzamend |  | $ | 6,449,000 |  |  | $ | 13,230,000 |
Schedule of investment in warrants and common stock |
Schedule of investment in warrants and common stock |  |  |  |  |  |  |  |
|  | Investment in common stock of Alzamend |  |  | Investment in promissory notes and advances of Alzamend |
Balance at January 1, 2021 |  | $ | 653,000 |  |  | $ | 796,000 |
Alzamend note and advances converted into common stock |  |  | - |  |  |  | (800,000 | )
Investment in common stock of Alzamend |  |  | 18,181,000 |  |  |  | - |
Unrealized loss in common stock of Alzamend |  |  | (5,604,000 | ) |  |  | - |
Accretion of discount |  |  | - |  |  |  | 4,000 |
Balance at December 31, 2021 |  |  | 13,230,000 |  |  |  | - |
Investment in common stock of Alzamend |  |  | 4,901,000 |  |  |  | - |
Alzamend stock received for marketing services |  |  | 989,000 |  |  |  | - |
Unrealized loss in common stock of Alzamend |  |  | (12,671,000 | ) |  |  | - |
Balance at December 31, 2022 |  | $ | 6,449,000 |  |  | $ | - |
Schedule of investment of common stock |
Schedule of investment of common stock |  |  |  |  |  |  |  |  |  |  |  |
|  | Shares of |  |  | Per Share |  |  | Investment in |
|  | Common Stock |  |  | Price |  |  | Common Stock |
Balance at January 1, 2021 |  |  | 428,000 |  |  | $ | 1.50 |  |  | $ | 642,000 |
Purchase of shares from an Alzamend shareholder |  |  | 62,000 |  |  | $ | 0.81 |  |  |  | 50,000 |
March 9, 2021 securities purchase agreement* |  |  | 4,000,000 |  |  | $ | 1.50 |  |  |  | 6,000,000 |
Investment in Alzamend initial public offering |  |  | 2,000,000 |  |  | $ | 5.00 |  |  |  | 10,000,000 |
Open market purchases after initial public offering |  |  | 457,000 |  |  | $ | 4.67 |  |  |  | 2,132,000 |
Unrealized loss in common stock of Alzamend |  |  |  |  |  |  |  |  |  |  | (5,625,000 | )
Investment in Alzamend common stock |  |  | 6,947,000 |  |  | $ | 1.90 |  |  |  | 13,199,000 |
Investment in Alzamend options |  |  |  |  |  |  |  |  |  |  | 31,000 |
Balance at December 31, 2021 |  |  |  |  |  |  |  |  |  | $ | 13,230,000 |
The following table summarizes the changes in the Company’s investments in Alzamend common stock during the year ended December 31, 2022:
|  | Shares of |  |  | Per Share |  |  | Investment in |
|  | Common Stock |  |  | Price |  |  | Common Stock |
Balance at January 1, 2022 |  |  | 6,947,000 |  |  | $ | 1.90 |  |  | $ | 13,230,000 |
March 9, 2021 securities purchase agreement* |  |  | 2,667,000 |  |  | $ | 1.50 |  |  |  | 4,000,000 |
Alzamend stock received for marketing services |  |  | 933,000 |  |  | $ | 1.06 |  |  |  | 989,000 |
Open market purchases after initial public offering |  |  | 868,000 |  |  | $ | 1.04 |  |  |  | 901,000 |
Unrealized loss in common stock of Alzamend |  |  |  |  |  |  |  |  |  |  | (12,671,000 | )
Investment in Alzamend common stock |  |  | 11,415,000 |  |  | $ | 0.56 |  |  | $ | 6,449,000 |
| * | Pursuant to the March 9, 2021 securities purchase agreement, in aggregate, Alzamend agreed to sell up to 6,666,667 shares of its common stock to Ault Lending for $10.0 million, or $1.50 per share, and issue to Ault Lending warrants to acquire 3,333,334 shares of Alzamend common stock with an exercise price of $3.00 per share. As of December 31, 2022, Ault Lending had funded the full $10.0 million.

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