INVESTMENTS

6 Months Ended

Jun. 30, 2022

INVESTMENTS

11 - INVESTMENTS

NOTE 11 – INVESTMENTS

In April 2022, the Company opened an investment account composed of U.S. Treasury bonds which are measured using Level 1 fair value inputs that are based on quoted prices in active markets.

For the three and six months ended June 30, 2022, the Company recognized $93,458 in the change in fair value of investments on the condensed consolidated statement of operations. As of June 30, 2022, the cost and fair value of the investment portion of the account was $13,492,655 and $13,431,774, respectively.

As of June 30, 2022, the cash and cash equivalent portion of the account was $132,380, which is included in cash and cash equivalents on the condensed consolidated balance sheet.