FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES (Tables)

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

SCHEDULE OF ASSETS AND LIABILITIES MEASURED AT FAIR VALUE ON RECURRING BASIS

The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values as of September 30, 2023:

	Level 1		Level 2		Level 3		Total
Assets:
Cash Equivalents:
Money market funds	$	5,227,911	$	—	$	—	$	5,227,911
Corporate debt securities		—		4,024,931		—		4,024,931
Investments:
Commercial paper		—		5,967,001		—		5,967,001
Corporate debt securities		—		11,517,436		—		11,517,436
	$	5,227,911	$	21,509,368	$	—	$	26,737,279
Liabilities:
Derivative liabilities	$	—	$	—	$	36,868	$	36,868

The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values as of December 31, 2022:

	Level 1		Level 2		Level 3		Total
Assets:
Cash Equivalents:
Money Market funds	$	8,470,790	$	—	$	—	$	8,470,790
Commercial paper		—		1,494,538		—		1,494,538
Corporate debt securities		—		3,232,231		—		3,232,231
Investments:
Commercial paper		—		12,173,980		—		12,173,980
Corporate debt securities		—		30,020,316		—		30,020,316
	$	8,470,790	$	46,921,065	$	—	$	55,391,855
Liabilities:
Derivative liabilities	$	—	$	—	$	36,868	$	36,868