(4) Marketable Securities
The Company’s investments in marketable
securities consist of money market funds and U.S. treasury bills, which are stated at fair value with realized and unrealized gains and
losses recognized in other income (expense). Realized and unrealized gains and losses are determined using the specific identification
method.
Marketable securities as of March 31, 2026 consisted
of the following:
Schedule of Marketable Securities
| | |
Adjusted Cost | | |
Unrealized Gains | | |
Unrealized Losses | | |
Fair Value | |
| | |
March 31, 2026 | |
| | |
Adjusted Cost | | |
Unrealized Gains | | |
Unrealized Losses | | |
Fair Value | |
| Level 1 (1) | |
| | | |
| | | |
| | | |
| | |
| Money market funds (1) | |
$ | 3,644 | | |
$ | – | | |
$ | – | | |
$ | 3,644 | (2) |
| U.S. treasury bills (1) | |
| 10,603,329 | | |
| 37,964 | | |
| – | | |
| 10,641,293 | (2) |
| Total (1) | |
$ | 10,606,973 | | |
$ | 37,964 | | |
$ | – | | |
$ | 10,644,937 | |
| (1) |
Level 1 fair value estimates are based on quoted prices in active markets for identical assets or liabilities. |
| |
|
| (2) |
The money market funds
of $3,644 and $4,023,201 of U.S. treasury bills (with original maturities of less than three months) are included in cash and cash
equivalents. The remaining $6,618,092 of U.S. treasury bills (with original maturities greater than three months) is classified as
marketable securities. |
|