| FAIR VALUE MEASUREMENTS |
NOTE 2. FAIR VALUE MEASUREMENTS The Company accounts for its investments at fair value and classifies these assets within the fair value hierarchy (Level 1, Level 2, or Level 3). Assets and liabilities subject to fair value measurements are: | | | | | | | | | | | | | | | | | | | | | | | | | As of June 30, 2026 | | Level 1 | | Level 2 | | Level 3 | | Total | | Assets | | | | | | | | | Cash and cash equivalents | | | | | | | | | Money market | $ | 16,199,082 | | | $ | — | | | $ | — | | | $ | 16,199,082 | | | Total cash and cash equivalents | $ | 16,199,082 | | | $ | — | | | $ | — | | | $ | 16,199,082 | | | Investments | | | | | | | | | Equity securities | $ | 22,268,472 | | | $ | — | | | $ | — | | | $ | 22,268,472 | | | U.S. Treasury securities | — | | | 79,088,560 | | | — | | | 79,088,560 | | | Certificates of deposit | — | | | 750,230 | | | — | | | 750,230 | | | Crypto assets | 308,791 | | | — | | | — | | | 308,791 | | | Total investments | $ | 22,577,263 | | | $ | 79,838,790 | | | $ | — | | | $ | 102,416,053 | | | Total assets | $ | 38,776,344 | | | $ | 79,838,790 | | | $ | — | | | $ | 118,615,134 | |
| | | | | | | | | | | | | | | | | | | | | | | | | As of December 31, 2025 | | Level 1 | | Level 2 | | Level 3 | | Total | | Assets | | | | | | | | | Cash and cash equivalents | | | | | | | | | Money market | $ | 10,625,821 | | | $ | — | | | $ | — | | | $ | 10,625,821 | | | Total cash and cash equivalents | $ | 10,625,821 | | | $ | — | | | $ | — | | | $ | 10,625,821 | | | Investments | | | | | | | | | Equity securities | $ | 20,201,411 | | | $ | — | | | $ | — | | | $ | 20,201,411 | | | U.S. Treasury securities | — | | | 87,808,288 | | | — | | | 87,808,288 | | | Certificates of deposit | — | | | 2,506,845 | | | — | | | 2,506,845 | | | Crypto assets | 379,149 | | | — | | | — | | | 379,149 | | | Total investments | $ | 20,580,561 | | | $ | 90,315,133 | | | $ | — | | | $ | 110,895,693 | | | Total assets | $ | 31,206,382 | | | $ | 90,315,133 | | | $ | — | | | $ | 121,521,514 | |
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