INVESTMENT SECURITIES, AVAILABLE-FOR-SALE AND FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2024

Investments, All Other Investments [Abstract]

SCHEDULE OF FAIR VALUE HIERARCHY ASSETS AND LIABILITIES

The valuation inputs hierarchy classification for assets measured at fair value on a recurring basis are summarized below as of September 30, 2024 and December 31, 2023 (in thousands). These tables do not include cash held in money market savings accounts.

As of September 30, 2024	Level 1		Level 2		Level 3		Total
Investment securities, available for sale:
Corporate debt securities	$	-	$	15,045	$	-	$	15,045
U.S. Treasury securities		-		11,634		-		11,634
	$	-	$	26,679	$	-	$	26,679

As of December 31, 2023	Level 1		Level 2		Level 3		Total
Investment securities, available for sale:
Corporate debt securities	$	-	$	8,471	$	-	$	8,471
U.S. Treasury securities		-		20,140		-		20,140
	$	-	$	28,611	$	-	$	28,611

SCHEDULE OF UNREALIZED GAIN OR LOSS ON SHORT-TERM INVESTMENTS

Short-term investments are summarized below as of September 30, 2024 and December 31, 2023 (in thousands).

							Investment
	Cost/		Gross		Gross		Securities,
	Amortized		Unrealized		Unrealized		Available-
	Cost		Gains		Losses		For-Sale
As of September 30, 2024
Investment securities, available for sale:
Corporate debt securities	$	15,006		39		-	$	15,045
U.S. Treasury securities		11,614		20		-		11,634
	$	26,620	$	59	$	-	$	26,679

								Investment
	Cost/		Gross		Gross			Securities,
	Amortized		Unrealized		Unrealized			Available-
	Cost		Gains		Losses			For-Sale
As of December 31, 2023
Investment securities, available for sale:
Corporate debt securities	$	8,466	$	6	$	(1	)	$	8,471
U.S. Treasury securities		20,119		21		-			20,140
	$	28,585	$	27	$	(1	)	$	28,611

SCHEDULE OF MATURITY DATE OF AVAILABLE-FOR-SALE SECURITIES

The maturities of the investment securities, available-for-sale as of September 30, 2024 and December 31, 2023 are shown below (in thousands):

			Gross		Gross
	Amortized		Unrealized		Unrealized	Estimated
	Cost		Gains		Losses	Fair Value
As of September 30, 2024
Maturity date
Less than one year	$	26,620		59		$	26,679
	$	26,620				$	26,679

			Gross		Gross
	Amortized		Unrealized		Unrealized			Estimated
	Cost		Gains		Losses			Fair Value
As of December 31, 2023
Maturity date
Less than one year	$	28,585	$	27	$	(1	)	$	28,611
	$	28,585						$	28,611

SCHEDULE OF UNREALIZED LOSS ON INVESTMENTS SECURITIES

The following table summarizes investments that have been in a continuous unrealized loss position for less than 12 months and those that have been in a continuous unrealized loss position for more than 12 months as of September 30, 2024 and December 31, 2023 (in thousands):

	Less than Twelve Months				Twelve Months or Greater				Total
			Gross				Gross				Gross
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Losses		Value		Losses		Value		Losses
As of September 30, 2024
Corporate debt securities	$	599		-		-		-	$	599	$	-
U.S. Treasury securities		-		-		-		-		-		-
	$	599	$	-	$	-	$	-	$	599	$	-

	Less than Twelve Months					Twelve Months or Greater				Total
			Gross					Gross				Gross
	Fair		Unrealized			Fair		Unrealized		Fair		Unrealized
	Value		Losses			Value		Losses		Value		Losses
As of December 31, 2023
Corporate debt securities	$	1,488	$	(1	)	$	-	$	-	$	1,488	$	(1	)
U.S. Treasury securities		1,486		-			-		-		1,486		-
	$	2,974	$	(1	)	$	-	$	-	$	2,974	$	(1	)