Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value of Financial Instruments

Schedule of fair value of financial instruments measured on a recurring basis

	As of December 31, 2022
Description	Total		Level 1		Level 2	Level 3
Assets:
Short-term investments	$	35,837,309	$	35,837,309	—		—

Schedule of change in fair value, as determined by Level 3 inputs, for all assets and liabilities using unobservable Level 3 inputs

	Pelican		Elusys
	Contingent		Contingent
	Consideration		Consideration
Balance at December 31, 2020	$	2,912,515	$	—
Change in fair value		430,000		—
Balance at December 31, 2021	$	3,342,515	$	—
Acquisition of Elusys		—		39,853,685
Payment of receivable consideration		—		(20,784,571)
Payment of inventory consideration		—		(4,735,000)
Payment of deferred cash consideration		—		(2,000,000)
Change in fair value		(3,342,515)		(109,500)
Reclassification to discontinued operations		—		(12,224,614)
Balance at December 31, 2022	$	—	$	—

Schedule of fair value inputs

	As of December 31, 2022
	Valuation	Significant		Weighted Average
	Methodology	Unobservable Input		(range, if applicable)
Elusys Revenue earn-out	Discounted cash flow analysis	Timing of expected payments		2025-2036
		Discount rate		24.5%
		Future revenue projections	$	325.9 million
Elusys Contract deferred consideration	Discounted cash flow analysis	Timing of expected payments		2023
		Discount rate		15.5%
		Future revenue projections	$	7.6 million

	As of December 31, 2021
	Valuation	Significant	Weighted Average
	Methodology	Unobservable Input	(range, if applicable)
Contingent Consideration	Probability weighted income approach	Milestone dates	2022-2031
		Discount rate	7.51%
		Probability of occurrence	4.9% to 75%

	December 31, 2022			December 31, 2021
Current stock price	$	0.81		$	3.04
Estimated volatility of future stock price		80.94	%		133.13	%
Risk free interest rate		4.75	%		0.55	%
Contractual term		0.90	years		1.90	years