INVESTMENTS IN DEBT SECURITIES AVAILABLE FOR SALE (Tables)

12 Months Ended

Dec. 31, 2023

Investments, Debt and Equity Securities [Abstract]

SCHEDULE OF COST, FAIR VALUE AND MATURITIES OF SHORT TERM INVESTMENTS

A summary of the cost, fair value and maturities of the Company’s short-term investments is as follows:

	December 31, 2023				December 31, 2022
	Cost		Fair Value		Cost		Fair Value
Short-term investments
U.S. Treasury securities	$	9,796,291	$	9,857,087	$	-	$	-
Corporate debt securities		-		-		21,227,991		21,254,485
Total	$	9,796,291	$	9,857,087	$	21,227,991	$	21,254,485

	December 31, 2023				December 31, 2022
	Cost		Fair Value		Cost		Fair Value
Short-term investment maturities
Within 3 months	$	2,467,518	$	2,490,775	$	4,005,559	$	3,994,590
Between 3-12 months		7,328,773		7,366,312		17,222,432		17,259,895
Total	$	9,796,291	$	9,857,087	$	21,227,991	$	21,254,485

SUMMARY OF INVESTMENT SECURITIES GROSS UNREALIZED GAINS (LOSSES)

The following table shows the Company’s investment in debt securities available for sale gross unrealized gains (losses) and fair value by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2023 and 2022. The Company has reviewed individual securities to determine whether a decline in fair value below the amortizable cost basis is other than temporary.

	December 31, 2023				December 31, 2022
Available for sale securities (all unrealized holding gains and losses are less than 12 months at date of measurement)	Fair Value		Unrealized Holding Gains (Losses)		Fair Value		Unrealized Holding Gains (Losses)
Investments in debt securities with unrealized gains	$	9,857,087	$	60,796	$	13,278,505	$	43,508
Investments in debt securities with unrealized losses		-	$	-		7,975,980		(17,014	)
Total	$	9,857,087	$	60,796	$	21,254,485	$	26,494

SUMMARY OF NET REALIZED LOSSES ON SALES OF AVAILABLE FOR SALE SECURITIES AND INVESTMENT INCOME INTEREST AND DIVIDENDS

Investment income, which includes net realized losses on sales of available for sale securities and investment income interest and dividends, is summarized as follows:

	2023		2022
Interest and dividends accrued and paid	$	725,824	$	502,578
Realized losses		431,801		(49,222	)
Investment income, net	$	1,157,625	$	453,356