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Investment in Debt Securities-Available for Sale (Tables)

3 Months Ended

Mar. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Schedule of Cost, Fair Value and Maturities of Short Term Investments

A summary of the cost, fair value and maturities of the Company’s short-term investments is as follows:

 Schedule of Cost, Fair Value and Maturities of Short Term Investments

		March 31, 2024								December 31, 2023
		Cost				Fair Value				Cost				Fair Value
Short-term investments
U.S. Treasury securities		$	7,328,774			$	7,461,875			$	9,796,291			$	9,857,087

		March 31, 2024								December 31, 2023
		Cost				Fair Value				Cost				Fair Value
Short-term investment maturities
Within 3 months		$	7,328,773			$	7,461,875			$	2,467,518			$	2,490,775
Between 3-12 months			-				-				7,328,773				7,366,312
Total		$	7,328,774			$	7,461,875			$	9,796,291			$	9,857,087

Summary of Investment Securities Gross Unrealized Gains (Losses)

The following table shows the Company’s investment in debt securities available for sale gross unrealized gains (losses) and fair value by investment category and length of time that individual securities have been in a continuous unrealized loss position at March 31, 2024 and December 31, 2023. The Company has reviewed individual securities to determine whether a decline in fair value below the amortizable cost basis is other than temporary.

 Summary of Investment Securities Gross Unrealized Gains (Losses)

		March 31, 2024								December 31, 2023
Available for sale securities (all unrealized holding gains are less than 12 months at date of measurement)		Fair Value				Unrealized Holding Gains				Fair Value				Unrealized Holding Gains
Investments in debt securities with unrealized gains		$	7,461,875			$	133,101			$	9,857,087			$	60,796

Summary of Net Realized Losses on Sales of Available for Sale Securities and Investment Income Interest and Dividends

Investment (loss) income, which includes net realized losses on sales of available for sale securities and investment income interest and dividends, is summarized as follows:

 Summary of Net Realized Losses on Sales of Available for Sale Securities and Investment Income Interest and Dividends

		2024				2023
		For the Three Months Ended March 31,
		2024				2023
Interest and dividends accrued and paid		$	155,387			$	356,154
Realized losses on Investment in debt securities			(73,466	)			(103,084	)
Investment income, net		$	81,921			$	253,070

X

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

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Tabular disclosure of investment income, including, but not limited to, interest and dividend income and amortization of discount (premium) derived from debt and equity securities. Excludes realized and unrealized gain (loss) on investments.

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