Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.23.2
Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2023
Fair Value Measurements [Abstract]  
Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

June 30, 2023

Level 1

Level 2

Level 3

Total Fair Value

Cash equivalents:

Money market funds

$

2,379,538

$

—

$

—

$

2,379,538

Subtotal

2,379,538

—

—

2,379,538

Short-term investments:

Corporate notes/bonds

—

1,352,878

—

1,352,878

Subtotal

—

1,352,878

—

1,352,878

Liabilities:

Contingent value rights

—

—

(6,010,520)

(6,010,520)

Earnout consideration

—

—

(3,080,000)

(3,080,000)

Subtotal

—

—

(9,090,520)

(9,090,520)

Total

$

2,379,538

$

1,352,878

$

(9,090,520)

$

(5,358,104)

December 31, 2022

Level 1

Level 2

Level 3

Total Fair Value

Cash equivalents:

Money market funds

$

978,462

$

—

$

—

$

978,462

Subtotal

978,462

—

—

978,462

Short-term investments:

Corporate notes/bonds

—

2,666,766

—

2,666,766

Subtotal

—

2,666,766

—

2,666,766

Current Liabilities:

Contingent value rights

—

—

(7,402,714)

(7,402,714)

Earnout consideration

—

—

(2,150,000)

(2,150,000)

Subtotal

—

—

(9,552,714)

(9,552,714)

Total

$

978,462

$

2,666,766

$

(9,552,714)

$

(5,907,486)