Fair Value Disclosures

3 Months Ended

Mar. 31, 2024

Fair Value Disclosures

Fair Value Disclosures

Note 4 - Fair Value Disclosures

Fair value is the price that would be received from the sale of an asset or paid to transfer a liability assuming an orderly transaction in the most advantageous market at the measurement date. U.S. GAAP establishes a hierarchical disclosure framework that prioritizes and ranks the level of observability of inputs used in measuring fair value.

The fair value of the Company’s financial instruments are as follows:

			Fair Value Measured at Reporting Date
			Using
	Carrying
	Amount		Level 1		Level 2		Level 3		Fair Value
March 31, 2024 (unaudited):
Money market funds	$	12,244	$	12,244	$	—	$	—	$	12,244
Note payable		386,769		—		386,769		—		386,769
December 31, 2023:
Money market funds		12,131		12,131		—		—		12,131
Note payable	$	612,784	$	—	$	612,784	$	—	$	612,784

At March 31, 2024 and December 31, 2023, the Company had no other assets or liabilities that are subject to fair value methodology and estimation in accordance with U.S. GAAP.