Fair Value of Financial Instruments

6 Months Ended

Jun. 30, 2024

Fair Value of Financial Instruments [Abstract]

Fair Value of Financial Instruments

Note 4 – Fair Value of Financial Instruments

There were no transfers among Levels 1, 2, or 3 during the three and six months ended June 30, 2024 or 2023.

	Fair Value Measurements at Reporting Date Using
	Total		Quoted Prices in Active Markets (Level 1)		Quoted Prices in Inactive Markets (Level 2)		Significant Unobservable Inputs (Level 3)
As of June 30, 2024: (unaudited)
Cash and cash equivalents	$	57,733,724	$	57,733,724	$	–	$	–
As of December 31, 2023
Cash and cash equivalents	$	56,560,517	$	56,560,517	$	–	$	–

The carrying value of the Loan and Security Agreement approximated its fair value as of June 30, 2024 due to its variable rate.