The Company’s short-term investments by significant investment category as of March 31, 2026, were as follows:


Description	Amortized Cost		Gross Unrealized Gains		Gross Unrealized (Losses)			Accrued Interest		Estimated Fair Value
Level 1: (1)
Cash alternatives	$	66,409	$	-	$	-		$	-	$	66,409
Certificates of deposit		9,934,645		-		(20,993	)		53,593		9,967,245
	$	10,001,054	$	-	$	(20,993	)	$	53,593	$	10,033,654

(1)

Level 1 fair value estimates are based on quoted prices in active markets for identical assets or liabilities.

The Company did not have any short term investments as of December 31, 2025.

Cash alternatives represent cash balances in savings accounts and U.S. Treasury Bills that are held temporarily and are immediately available for use in accordance with the Company’s investment policy.

The Company typically invests in low risk securities and its investment policy limits the amount of credit exposure to any one issuer. The policy requires investments in fixed income instruments denominated and payable in U.S. dollars only and requires investments to have an investment grade credit rating, with a primary objective of minimizing the potential risk of principal loss.