Cash, Cash Equivalents, and Investments

3 Months Ended

Mar. 31, 2026

Cash and Cash Equivalents [Abstract]

Note 2: Cash, Cash Equivalents, and Investments

The Company’s investments in debt securities are classified as held-to-maturity and are recorded at amortized cost, net of allowance for credit losses, and its investments in money market funds are classified as available-for-sale securities and presented as cash equivalents or restricted cash equivalents on the consolidated balance sheets. The following table shows the Company’s cash, available-for-sale securities, and investment securities by major security type as of March 31, 2026, and December 31, 2025:

	March 31, 2026 (Unaudited)
				Allowance		Gross		Gross
				for		Unrealized		Unrealized
	Level ⁽¹⁾	Fair Value		Credit Losses		Holding Gains		Holding Losses			Adjusted Cost
Assets:
Cash deposits	1	$	1,330,251	$	—	$	—	$	—		$	1,330,251
Money market funds ⁽²⁾	1		3,825,477		—		—		—			3,825,477
Short-term investment in corporate bonds ^(3)(5)(6)	2		1,360,393		—		—		(650	)		1,361,043
Long-term investment in corporate bonds ^(4)(5)(6)	2		74,470		—		—		(342	)		74,812
Total financial assets		$	6,590,591	$	—	$	—	$	(992	)	$	6,591,583
Reconciliation to cash, cash equivalents and investments on condensed consolidated balance sheet
Minus: Restricted cash												(908,459	)
Total cash, cash equivalents and investments											$	5,683,124

	December 31, 2025 (Audited)
				Allowance		Gross		Gross
				for		Unrealized		Unrealized
	Level ⁽¹⁾	Fair Value		Credit Losses		Holding Gains		Holding Losses			Adjusted Cost
Assets:
Cash deposits	1	$	143,752	$	—	$	—	$	—		$	143,752
Money market funds ⁽²⁾	1		5,709,747		—		—		—			5,709,747
Short-term investment in corporate bonds ^(3)(5)(6)	2		2,700,344		—		1,973		(290	)		2,698,661
Total financial assets		$	8,553,843	$	—	$	1,973	$	(290	)	$	8,552,160
Reconciliation to cash, cash equivalents and investments on condensed consolidated balance sheet
Minus: Restricted cash												(1,231,168	)
Total cash, cash equivalents and investments											$	7,320,992

Notes:

(1)	Definition of the three-level fair value hierarchy:

	●	Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities
	●	Level 2 - Other inputs that are directly or indirectly observable in the markets
	●	Level 3 - Inputs that are generally unobservable

(2)	All our money market funds were invested in U.S. Government money market funds.
(3)	Short-term investment securities will mature within 12 months or less, from the applicable reporting date.
(4)	Long-term investment securities will mature between 12 months and 18 months from the applicable reporting date.
(5)	For the three months ended March 31, 2026 and 2025, the Company received discounts of $4,454 and $6,104 to purchase held-to-maturity investment securities, respectively. For the year ended December 31, 2025, the Company received discounts of $63,096 to purchase held-to-maturity investment securities.
(6)	The Company considers the decline in the market value of its investment portfolio to be temporary in nature. As of March 31, 2026 and December 31, 2025, the Company did not consider any of its investments to be other-than-temporarily impaired and no allowance for credit losses was recorded.