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INVESTMENTS – RELATED PARTIES | 3 Months Ended
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Mar. 31, 2023
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Abstract] |
INVESTMENTS – RELATED PARTIES | 12. INVESTMENTS – RELATED PARTIES Investments in Alzamend and Ault & Company, Inc. (“Ault & Company”) at March 31, 2023 and December 31, 2022, were comprised of the following: Investment in Promissory Notes, Related Parties
Schedule of investment |  |  |  |  |  |  |  |  |  |  |  |
|  | Interest |  |  |  | March 31, |  |  | December 31, |
|  | rate |  | Due Date |  | 2023 |  |  | 2022 |
Investment in promissory note of Ault & Company |  | 8% |  | December 31, 2023 |  | $ | 2,500,000 |  |  | $ | 2,500,000 |
Accrued interest receivable, Ault & Company |  |  |  |  |  |  | 418,000 |  |  |  | 368,000 |
Total investment in promissory note, related party |  |  |  |  |  | $ | 2,918,000 |  |  | $ | 2,868,000 |
Summary of interest income, related party, recorded within interest and other income on the condensed consolidated statement of operations:
|  | For the Three Months Ended |
|  | March 31, |
|  | 2023 |  |  | 2022 |
Interest income, related party |  | $ | 50,000 |  |  | $ | 50,000 |
Investment in Common Stock and Options, Related Parties
|  | March 31, |  |  | December 31, |
|  | 2023 |  |  | 2022 |
Investment in common stock of Alzamend |  | $ | 4,856,000 |  |  | $ | 6,449,000 |
The following table summarizes the changes in the Company’s investments in Alzamend during the three months ended March 31, 2023:
Schedule of investment in warrants and common stock |  |  |  |
|  | Investment in common stock of Alzamend |
Balance at January 1, 2023 |  | $ | 6,449,000 |
Investment in common stock of Alzamend |  |  | 5,000 |
Unrealized loss in common stock of Alzamend |  |  | (1,598,000 | )
Balance at March 31, 2023 |  | $ | 4,856,000 |
Unrealized loss in common stock of Alzamend is recorded within revenue from lending and trading activities on the condensed consolidated statements of operations. Investments in Alzamend Common Stock The following table summarizes the changes in the Company’s investments in Alzamend common stock during the three months ended March 31, 2023:
Schedule of investment of common stock |  |  |  |  |  |  |  |  |  |  |  |
|  | Shares of |  |  | Per Share |  |  | Investment in |
|  | Common Stock |  |  | Price |  |  | Common Stock |
Balance at January 1, 2023 |  |  | 11,415,000 |  |  | $ | 0.56 |  |  | $ | 6,449,000 |
Open market purchases after initial public offering |  |  | 10,000 |  |  | $ | 0.50 |  |  |  | 5,000 |
Unrealized loss in common stock of Alzamend |  |  | - |  |  | $ | - |  |  |  | (1,598,000 | )
Balance at March 31, 2023 |  |  | 11,425,000 |  |  | $ | 0.43 |  |  | $ | 4,856,000 |

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- Definition The entire disclosure of information about investment held by insurance company, excluding investment in related party. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 15 -Publisher SEC Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 320 -Name Accounting Standards Codification -Section S99 -Paragraph 7 -Subparagraph (SX 210.12-15) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480032/946-320-S99-7 + Details
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