CUSTOMER FUNDS AND INVESTMENTS

9 Months Ended

Sep. 30, 2024

CUSTOMER FUNDS AND INVESTMENTS

CUSTOMER FUNDS AND INVESTMENTS

NOTE 5 – CUSTOMER FUNDS AND INVESTMENTS

The Company has invested certain customer funds in available-for-sale debt securities and term deposits. The following table summarizes the assets underlying customer funds as of September 30, 2024 and December 31, 2023:

	September 30,		December 31,
	2024		2023
Cash and cash equivalents	$	4,424,553	$	6,390,526
Available-for-sale debt securities		1,061,214		—
Term deposits		75,000		—
Total current customer funds	$	5,560,767	$	6,390,526
Term deposits		525,000		—
Total non-current customer funds	$	525,000	$	—
Total customer funds	$	6,085,767	$	6,390,526

As of September 30, 2024, the estimated fair value of the available-for-sale debt securities included $10,311 in unrealized gains, net of tax.

During the period ended September 30, 2024, the Company did not sell any available-for-sale debt securities or incur any realized gains or losses.

As of September 30, 2024, $286,400 of the Company’s available-for-sale debt securities were due to mature within one year or less, and $774,814 were due to mature between one and five years.