Fair Value of Financial Instruments

3 Months Ended

Mar. 31, 2025

Fair Value of Financial Instruments [Abstract]

Fair Value of Financial Instruments

Note 4 – Fair Value of Financial Instruments

There were no transfers between Levels 1, 2, or 3 during the three months ended March 31, 2025 or 2024.

	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 March 31, 2025: (unaudited)
Cash and cash equivalents	$	39,978,674	$	39,978,674	$	–	$	–
As of December 31, 2024
Cash and cash equivalents	$	41,689,591	$	41,689,591	$	–	$	–

The carrying value of the Loan and Security Agreement approximated its fair value as of March 31, 2025 due to its variable interest rate.