FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

SCHEDULE OF ASSETS AND LIABILITIES MEASURED AT FAIR VALUE ON RECURRING BASIS

The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values as of December 31, 2023:

	Level 1	Level 2	Level 3	Total
Assets:
Cash Equivalents:
Money market funds	$7,832,675	$—	$—	$7,832,675
Corporate debt securities	—	1,862,273	—	1,862,273
Investments:
Corporate debt securities	—	7,182,325	—	7,182,325
	$7,832,675	$9,044,598	$—	$16,877,273
Liabilities:
Derivative liabilities	$—	$—	$39,450	$39,450

The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values as of December 31, 2022:

	Level 1	Level 2	Level 3	Total
Assets:
Cash Equivalents:
Money Market funds	$8,470,790	$—	$—	$8,470,790
Commercial paper	—	1,494,538	—	1,494,538
Corporate debt securities	—	3,232,231	—	3,232,231
Investments:
Commercial paper	—	12,173,980	—	12,173,980
Corporate debt securities	—	30,020,316	—	30,020,316
	$8,470,790	$46,921,065	$—	$55,391,855
Liabilities:
Derivative liabilities	$—	$—	$36,868	$36,868