Cash, Cash Equivalents and Marketable Securities

6 Months Ended

Jun. 30, 2026

CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES

At June 30, 2026, cash and cash equivalents were comprised of:


	Carrying Amount		Estimated Fair Value		Cash and Cash Equivalents
Cash	$	3,902,546	$	3,902,546	$	3,902,546
Money market funds		41,187,240		41,187,240		41,187,240
Total cash and cash equivalents	$	45,089,786	$	45,089,786	$	45,089,786

The contractual maturities of all cash equivalents and available for sale securities were less than one year at June 30, 2026.

At December 31, 2025, cash and cash equivalents were comprised of:


	Carrying Amount		Estimated Fair Value		Cash and Cash Equivalents
Cash	$	29,566,736	$	29,566,736	$	29,566,736
Money market funds		40,474,518		40,474,518		40,474,518
Total cash and cash equivalents	$	70,041,254	$	70,041,254	$	70,041,254

There were no marketable securities held at June 30, 2026 and December 31, 2025.