Fair Value of Financial Instruments

6 Months Ended

Jun. 30, 2024

Fair Value of Financial Instruments [Abstract]

FAIR VALUE OF FINANCIAL INSTRUMENTS

NOTE 10 – FAIR VALUE OF FINANCIAL INSTRUMENTS

The carrying amounts of certain financial instruments, including cash and cash equivalents and accounts payable and accrued expenses, approximate their respective fair values due to the short-term nature of such instruments.

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The Company evaluates its financial assets and liabilities subject to fair value measurements on a recurring basis to determine the appropriate level at which to classify them for each reporting period. This determination requires significant judgments to be made. The Company had the following financial assets and liabilities as of the dates presented below:

	Balance as of June 30, 2024		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Marketable securities	$	131,000	$	131,000	$	-	$	-
Digital assets	$	974,000	$	974,000	$	-	$	-
Liabilities:
BTC Note	$	19,073,000	$	19,073,000	$	-	$	-

	Balance as of December 31, 2023		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Digital assets held for other parties	$	908,000	$	908,000	$	-	$	-
Marketable securities	$	403,000	$	403,000	$	-	$	-
Liabilities:
Liability related to digital assets held for other parties	$	916,000	$	916,000	$	-	$	-
BTC Note	$	14,868,000	$	14,868,000	$	-	$	-