| Fair Value of Financial Instruments |
Note
3 – Fair Value of Financial Instruments
Financial
Assets
The
following table represents the estimated fair values of the Company’s financial instruments:
Schedule
of Estimated Fair Value of Financial Instrument
| |
|
December
31, 2023 |
|
| |
|
|
|
|
Unrealized |
|
|
Unrealized |
|
|
Fair |
|
| |
|
Cost |
|
|
Gains |
|
|
Losses |
|
|
Value |
|
| Short-term investments |
|
$ |
12,845,000 |
|
|
$ |
48,000 |
|
|
$ |
— |
|
|
$ |
12,893,000 |
|
| Total |
|
$ |
12,845,000 |
|
|
$ |
48,000 |
|
|
$ |
— |
|
|
$ |
12,893,000 |
|
The
following table represents the Company’s fair value hierarchy for its financial assets (cash equivalents and investments):
Schedule
of Fair Value Hierarchy Financial Assets
| |
|
Fair
Value |
|
|
Level
1 |
|
|
Level
2 |
|
|
Level
3 |
|
| |
|
December
31, 2024 |
|
| |
|
Fair
Value |
|
|
Level
1 |
|
|
Level
2 |
|
|
Level
3 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Cash equivalents: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Money market funds |
|
$ |
3,755,000 |
|
|
$ |
3,755,000 |
|
|
$ |
— |
|
|
$ |
— |
|
| US treasuries |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Short-term investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| US treasuries |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Total financial assets |
|
$ |
3,755,000 |
|
|
$ |
3,755,000 |
|
|
$ |
— |
|
|
$ |
— |
|
| |
|
Fair
Value |
|
|
Level
1 |
|
|
Level
2 |
|
|
Level
3 |
|
| |
|
December
31, 2023 |
|
| |
|
Fair
Value |
|
|
Level
1 |
|
|
Level
2 |
|
|
Level
3 |
|
| Cash equivalents: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Money market
funds |
|
$ |
443,000 |
|
|
$ |
443,000 |
|
|
$ |
— |
|
|
$ |
— |
|
| Short-term investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| US treasuries and US
gov’t. agencies |
|
|
12,893,000 |
|
|
|
— |
|
|
|
12,893,000 |
|
|
|
— |
|
| Total financial assets |
|
$ |
13,336,000 |
|
|
$ |
443,000 |
|
|
$ |
12,893,000 |
|
|
$ |
— |
|
Warrant
Liability
For
the details of warrant liability transactions see Note 5 – Warrant Liability.
|