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INVESTMENTS – RELATED PARTIES

12 Months Ended

Dec. 31, 2023

13. INVESTMENTS – RELATED PARTIES

Investment in Promissory Note, Related Parties – Ault & Company, Inc. (“Ault & Company”)

Investments in Ault & Company, an affiliate, and Alzamend, a related party, at December 31, 2023 and 2022, were comprised of the following:

Schedule of investment
	Interest		Due		December 31,		December 31,
	Rate		Date		2023		2022
Investment in promissory note of Ault & Company		8%		Dec. 31, 2024	$	2,500,000	$	2,500,000
Accrued interest receivable Ault & Company						568,000		368,000
Other - Alzamend						900,000		-
Total investment in promissory notes and other, related parties					$	3,968,000	$	2,868,000

The Company recorded related party interest income of $0.2 million for each of the years ended December 31, 2023 and 2022 in interest income.

Investment in Common Stock, Related Parties – Alzamend

Schedule of investment of common stock
	Investments in common stock, related parties at December 31, 2023
	Cost		Gross unrealized losses			Fair value
Common shares	$	24,688,000	$	(24,009,000	)	$	679,000

	Investments in common stock, related parties at December 31, 2022
	Cost		Gross unrealized losses			Fair value
Common shares	$	24,673,000	$	(18,224,000	)	$	6,449,000

The following table summarizes the changes in the Company’s investments in Alzamend during the years ended December 31, 2023 and 2022:


	Investment in common stock of Alzamend			Investment in promissory notes and advances of Alzamend and Other
Balance at January 1, 2022	$	13,230,000		$	173,000
Investment in common stock of Alzamend		4,901,000			-
Alzamend stock received for marketing services		989,000			-
Unrealized loss in common stock of Alzamend		(12,671,000	)		-
Amortization of related party investment		-			(173,000	)
Balance at December 31, 2022		6,449,000			-
Investment in common stock of Alzamend		15,000			-
Unrealized loss in common stock of Alzamend		(5,785,000	)		-
Balance at December 31, 2023	$	679,000		$	-

Messrs. Ault, Horne and Nisser are each paid $50,000 annually by Alzamend.