| Schedule of Cash and Cash Equivalents and Investments |
Schedule of Cash and Cash Equivalents and Investments
| | |
June
30, 2026 (Unaudited) |
| | |
Level
(1) | |
Fair
Value | | |
Allowance
for
Credit
Losses | | |
Gross
Unrealized
Holding Gains | | |
Gross
Unrealized Holding Losses | | |
Adjusted
Cost | |
| Assets: | |
| |
| | | |
| | | |
| | | |
| | | |
| | |
| Cash
deposit | |
1 | |
$ | 846,081 | | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | 846,081 | |
| Money
market funds (2) | |
1 | |
| 2,134,932 | | |
| — | | |
| — | | |
| — | | |
| 2,134,932 | |
| Short-term
investment in corporate bonds (3)(5)(6) | |
2 | |
| 1,687,453 | | |
| — | | |
| — | | |
| (902 | ) | |
| 1,688,355 | |
| Long-term
investment in corporate bonds (4)(5)(6) | |
2 | |
| 109,071 | | |
| — | | |
| — | | |
| (345 | ) | |
| 109,416 | |
| Total
financial assets | |
| |
$ | 4,777,537 | | |
$ | — | | |
$ | — | | |
$ | (1,247 | ) | |
$ | 4,778,784 | |
| Reconciliation
to cash, cash equivalents and investments on condensed consolidated balance sheet | | |
| | |
| Minus:
Restricted cash | | |
| (1,555,649 | ) |
| Total
cash, cash equivalents and investments | | |
$ | 3,223,135 | |
| | |
December
31, 2025 (Audited) |
| | |
Level
(1) | |
Fair
Value | | |
Allowance
for
Credit
Losses | | |
Gross
Unrealized Holding Gains | | |
Gross
Unrealized
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 June 30, 2026 and 2025, the Company received discounts of $4,117 and $9,618 to purchase held-to-maturity
investment securities, respectively. For the six months ended June 30, 2026 and 2025, the Company received discounts of $8,570 and
$15,722 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’s held-to-maturity corporate bonds are
evaluated quarterly for expected credit losses using a model based on credit ratings and historical risk of default. As of June 30, 2026
and December 31, 2025, based on the high credit quality of the issuers and macroeconomic conditions, the calculated allowance for expected
credit losses was immaterial. Accordingly, no allowance for credit losses was recorded against the amortized cost basis of the investments.
|
|