Short-Term Investments (Tables)

9 Months Ended

Sep. 30, 2023

Investments Debt And Equity Securities [Abstract]

Summary of Short-Term Investments by Significant Investment Category

The Company’s short-term investments by significant investment category as of September 30, 2023, were as follows:

Description	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Accrued Interest		Estimated Fair Value
Level 1: (1)
Cash alternatives	$	2,282,709	$	10,269	$	-		$	-	$	2,292,978
Certificates of deposit		7,070,000		-		(6,687	)		83,005		7,146,318
	$	9,352,709	$	10,269	$	(6,687	)	$	83,005	$	9,439,296

(1)Level 1 fair value estimates are based on quoted prices in active markets for identical assets or liabilities.

The Company’s short-term investments by significant investment category as of December 31, 2022, were as follows:

Description	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Accrued Interest		Estimated Fair Value
Level 1: (1)
Cash alternatives	$	5,139,940	$	22,646	$	-		$	3,506	$	5,166,092
Certificates of deposit		4,950,527		-		(7,691	)		14,607		4,957,443
	$	10,090,467	$	22,646	$	(7,691	)	$	18,113	$	10,123,535

(1)Level 1 fair value estimates are based on quoted prices in active markets for identical assets or liabilities.