0000315958 2025-01-01 2025-03-31 0000315958 2025-05-08 0000315958 2025-03-31 0000315958 2024-12-31 0000315958 2024-01-01 2024-03-31 0000315958 us-gaap:CommonStockMember 2023-12-31 0000315958 us-gaap:AdditionalPaidInCapitalMember 2023-12-31 0000315958 us-gaap:RetainedEarningsMember 2023-12-31 0000315958 2023-12-31 0000315958 us-gaap:CommonStockMember 2024-01-01 2024-03-31 0000315958 us-gaap:AdditionalPaidInCapitalMember 2024-01-01 2024-03-31 0000315958 us-gaap:RetainedEarningsMember 2024-01-01 2024-03-31 0000315958 us-gaap:CommonStockMember 2024-03-31 0000315958 us-gaap:AdditionalPaidInCapitalMember 2024-03-31 0000315958 us-gaap:RetainedEarningsMember 2024-03-31 0000315958 2024-03-31 0000315958 us-gaap:CommonStockMember 2024-12-31 0000315958 us-gaap:AdditionalPaidInCapitalMember 2024-12-31 0000315958 us-gaap:RetainedEarningsMember 2024-12-31 0000315958 us-gaap:CommonStockMember 2025-01-01 2025-03-31 0000315958 us-gaap:AdditionalPaidInCapitalMember 2025-01-01 2025-03-31 0000315958 us-gaap:RetainedEarningsMember 2025-01-01 2025-03-31 0000315958 us-gaap:CommonStockMember 2025-03-31 0000315958 us-gaap:AdditionalPaidInCapitalMember 2025-03-31 0000315958 us-gaap:RetainedEarningsMember 2025-03-31 0000315958 us-gaap:CostOfSalesMember 2025-01-01 2025-03-31 0000315958 us-gaap:CostOfSalesMember 2024-01-01 2024-03-31 0000315958 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2025-01-01 2025-03-31 0000315958 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2024-01-01 2024-03-31 0000315958 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2025-03-31 0000315958 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2025-03-31 0000315958 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2025-03-31 0000315958 us-gaap:FairValueMeasurementsRecurringMember 2025-03-31 0000315958 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2024-12-31 0000315958 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2024-12-31 0000315958 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2024-12-31 0000315958 us-gaap:FairValueMeasurementsRecurringMember 2024-12-31 0000315958 2024-01-01 2024-12-31 0000315958 us-gaap:EmployeeStockOptionMember 2025-01-01 2025-03-31 0000315958 us-gaap:EmployeeStockOptionMember 2024-01-01 2024-03-31 0000315958 us-gaap:OperatingSegmentsMember 2025-01-01 2025-03-31 0000315958 us-gaap:OperatingSegmentsMember 2024-01-01 2024-03-31 shares iso4217:USD iso4217:USD shares crmz:Segment pure 10-Q true 2025-03-31 2025 false 1-8601 CreditRiskMonitor.com, Inc. NV 36-2972588 704 Executive Boulevard Suite A Valley Cottage NY 10989 845 230-3000 Yes Yes Non-accelerated Filer true false false 10722401 5837195 6674473 1488665 2467475 30000 30000 3896950 3631018 1056602 929512 12279412 13702478 9784000 8758000 417840 497560 1954460 1954460 24435712 24912498 10991469 10886860 188455 319717 1161998 1931281 12341922 13137858 481420 481420 284277 151474 13107619 13770752 0.01 0.01 5000000 5000000 0 0 0 0 0.01 0.01 32500000 32500000 10722401 10722401 10722401 10722401 107224 107224 30134016 30106731 -18913147 -19072209 11328093 11141746 24435712 24912498 4871412 4808707 2283374 2197777 2476951 2553601 85720 93170 4846045 4844548 25367 -35841 180833 201759 206200 165918 47138 38511 159062 127407 0.01 0.01 0.01 0.01 10722401 10722401 10831979 10766909 10722401 107224 30007773 -20747111 9367886 0 0 127407 127407 0 24993 0 24993 10722401 107224 30032766 -20619704 9520286 10722401 107224 30106731 -19072209 11141746 0 0 159062 159062 0 27285 0 27285 10722401 107224 30134016 -18913147 11328093 159062 127407 -53499 -43704 85720 93170 0 1305 27285 24993 265932 -148454 127090 17975 237412 969166 -131262 96225 -769283 -790267 -837587 608774 985000 940000 978691 940329 6000 197264 309 -197593 -837278 411181 6674473 11004937 5837195 11416118 <div style="text-align: justify;"> <span>(1) Overview and Basis of Presentation</span> </div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span>CreditRiskMonitor.com, Inc. (the “Company” or “CreditRiskMonitor.com”) provides interactive business-to-business Software-as-a-Service (“SaaS”) subscription products designed specifically for credit and supply chain managers. These products are sold predominantly to corporations located in the United States.</span> </div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span>The accompanying unaudited condensed financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Certain information and footnote disclosures required by generally accepted accounting principles (“GAAP”) in the United States for complete financial statements have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). In the opinion of management, the accompanying unaudited condensed financial statements reflect all material adjustments, including normal recurring accruals, necessary to present fairly the Company’s financial position, results of operations and cash flows for the periods presented, and have been prepared in a manner consistent with the audited financial statements for the fiscal year ended December 31, 2024.</span> </div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span>The results of operations for the three months ended March 31, 2025 and 2024 are not necessarily indicative of the results for an entire fiscal year.</span> </div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span>The December 31, 2024 condensed balance sheet has been derived from the audited financial statements at that date, but does not include all disclosures required by GAAP for complete financial statements. These condensed financial statements should be read in conjunction with the audited financial statements and the footnotes for the fiscal year ended December 31, 2024 included in the Company’s Annual Report on Form 10-K.</span> </div> <div style="text-align: justify;"> <span style="color: #000000;">(2) Recently Issued Accounting Standards</span> </div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span>In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-07, </span><span style="font-style: italic;">Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures </span><span>(“ASU 2023-07”)</span><span style="font-style: italic;">. </span><span>ASU 2023-07 expands public entities’ segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”) and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable segment. All disclosure requirements under ASU 2023-07 are also required for public entities with a single reportable segment. The Company adopted ASU 2023-07 on January 1, 2024 (see Note 9).</span> </div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span>In December 2023, the FASB issued ASU 2023-09, </span><span style="font-style: italic;">Income Taxes (Topic 740): Improvements to Income Tax Disclosures </span><span>(“ASU 2023-09”), which provides for improvements to income tax disclosures primarily related to rate reconciliation and income taxes paid by jurisdiction. This guidance is effective for annual reporting periods beginning after December 15, 2024. The Company is currently evaluating the effects of this pronouncement on its financial statements.</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span>In November 2024, the FASB issued ASU 2024-03, </span><span style="font-style: italic;">Income Statement</span><span>–</span><span style="font-style: italic;">Reporting Comprehensive Income</span><span>–</span><span style="font-style: italic;">Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses</span><span> (“ASU 2024-03”), to improve disclosures about a public entity’s expenses by requiring disclosure of additional information about the types of expenses commonly presented in the financial statements on an annual and interim basis. The guidance will be effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact of adoption of this update on its financial statements.</span> </div> <div> <span>(3) Revenue Recognition</span> </div> <div style="text-align: justify;">  </div> <div style="text-align: justify; color: rgb(0, 0, 0);"> <span>The Company applies FASB Accounting Standards Codification (“ASC”) 606, </span><span style="font-style: italic;">Revenue from Contracts with Customers</span><span> (“ASC 606”), to recognize revenue. ASC 606 requires an entity to apply the following five-step approach: (1) identify the contract(s) with a customer; (2) identify each performance obligation in the contract; (3) determine the transaction price; (4) allocate the transaction price to each performance obligation; and (5) recognize revenue when or as each performance obligation is satisfied. The Company’s primary source of revenue is subscription income which is recognized ratably over the subscription term.</span> </div> <div style="text-align: justify;"> <span>(4) Stock-Based Compensation</span> </div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span>The Company applies ASC 718, </span><span style="font-style: italic;">Compensation-Stock Compensation (Topic 718)</span><span> (“ASC 718”), to account for stock-based compensation.</span> </div> <div style="text-align: justify;">  </div> <div style="text-align: justify; color: rgb(0, 0, 0);"> <span>The following table summarizes the stock-based compensation expense for stock options that was recorded in the Company’s results of operations in accordance with ASC 718 for the three months ended March 31:</span> </div> <table cellpadding="0" style="font-size: 10pt; color: rgb(0, 0, 0); border-collapse: collapse; font-family: &quot;Times New Roman&quot;, Times, serif; width: 100%; border-spacing: 0px;"> <tr><td style="width: 77%;"></td><td></td><td></td><td></td><td style="width: 1%;"></td><td></td><td></td><td></td></tr><tr style="height: 0px; font-size: 0px;"> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td colspan="7" style="text-align: center;"> <span style="color: rgb(0, 0, 0); font-weight: bold;">3 Months Ended</span> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td colspan="7" style="text-align: center; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> <span style="color: rgb(0, 0, 0); font-weight: bold;">March 31,</span> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="text-align: center; width: 9%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> <span style="color: rgb(0, 0, 0); font-weight: bold;">2025</span> </td><td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="text-align: center; width: 9%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> <span style="color: rgb(0, 0, 0); font-weight: bold;">2024</span> </td><td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> <div> <span style="color: #000000;">Data and product costs</span> </div> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left;">$</td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right;">8,546</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td> <td> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left;">$</td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right;">7,594</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td> </tr> <tr style="vertical-align: top;"> <td> <div> <span style="color: #000000;">Selling, general and administrative expenses</span> </div> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;">18,739</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;">17,399</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">$</td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">27,285</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">$</td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">24,993</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;"> </td> </tr> </table> <div style="text-align: justify; color: rgb(0, 0, 0);"> <span>The following table summarizes the stock-based compensation expense for stock options that was recorded in the Company’s results of operations in accordance with ASC 718 for the three months ended March 31:</span> </div> <table cellpadding="0" style="font-size: 10pt; color: rgb(0, 0, 0); border-collapse: collapse; font-family: &quot;Times New Roman&quot;, Times, serif; width: 100%; border-spacing: 0px;"> <tr><td style="width: 77%;"></td><td></td><td></td><td></td><td style="width: 1%;"></td><td></td><td></td><td></td></tr><tr style="height: 0px; font-size: 0px;"> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td colspan="7" style="text-align: center;"> <span style="color: rgb(0, 0, 0); font-weight: bold;">3 Months Ended</span> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td colspan="7" style="text-align: center; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> <span style="color: rgb(0, 0, 0); font-weight: bold;">March 31,</span> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="text-align: center; width: 9%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> <span style="color: rgb(0, 0, 0); font-weight: bold;">2025</span> </td><td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="text-align: center; width: 9%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> <span style="color: rgb(0, 0, 0); font-weight: bold;">2024</span> </td><td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> <div> <span style="color: #000000;">Data and product costs</span> </div> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left;">$</td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right;">8,546</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td> <td> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left;">$</td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right;">7,594</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td> </tr> <tr style="vertical-align: top;"> <td> <div> <span style="color: #000000;">Selling, general and administrative expenses</span> </div> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;">18,739</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;">17,399</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">$</td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">27,285</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">$</td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">24,993</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;"> </td> </tr> </table> 8546 7594 18739 17399 27285 24993 <div style="text-align: justify;"> <span>(5) Fair Value Measurements </span> </div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="color: #000000;">The Company’s cash, cash equivalents and marketable securities are stated at fair value. The carrying value of accounts receivable, other current assets, accounts payable, and accrued expenses approximates fair market value because of the short maturity of these financial instruments.</span> </div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="color: #000000;">The Company’s cash equivalents are generally classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices.</span> </div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="color: #000000;">All held-to-maturity securities as of March 31, 2025 and December 31, 2024 were U.S. Treasury securities. Investments in these government securities are based on quoted market prices in active markets, and are included in the Level 1 fair value hierarchy.</span> </div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="color: #000000;">The tables below set forth the Company’s cash and cash equivalents, as well as marketable securities as of </span><span>March 31, 2025 and December 31, 2024</span><span style="color: #000000;">, respectively, which are measured at fair value on a recurring basis by level within the fair value hierarchy.</span></div> <div style="text-align: justify;"> </div><table cellpadding="0" style="font-size: 10pt; border-collapse: collapse; font-family: &quot;Times New Roman&quot;, Times, serif; width: 100%; border-spacing: 0px;"> <tr style="height: 0px; font-size: 0px;"> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td colspan="15" style="text-align: center; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> <span style="font-weight: bold;">March 31, 2025</span> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="text-align: center; width: 9%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> <span style="font-weight: bold;">Level 1</span> </td><td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="text-align: center; width: 9%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> <span style="font-weight: bold;">Level 2</span> </td><td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="text-align: center; width: 9%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> <span style="font-weight: bold;">Level 3</span> </td><td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="text-align: center; width: 9%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> <span style="font-weight: bold;">Total</span> </td><td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> <div> Cash and cash equivalents </div> </td> <td style="width: 1%; text-align: left;">$</td><td style="width: 9%; text-align: right;">5,837,195</td><td style="width: 1%; text-align: left;"> </td> <td> </td> <td style="width: 1%; text-align: left;">$</td><td style="width: 9%; text-align: right;">−</td><td style="width: 1%; text-align: left;"> </td> <td> </td> <td style="width: 1%; text-align: left;">$</td><td style="width: 9%; text-align: right;">−</td><td style="width: 1%; text-align: left;"> </td> <td> </td> <td style="width: 1%; text-align: left;">$</td><td style="width: 9%; text-align: right;">5,837,195</td><td style="width: 1%; text-align: left;"> </td> </tr> <tr style="vertical-align: top;"> <td> <div> Held-to-maturity securities </div> </td> <td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="width: 9%; text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;">11,272,665</td><td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="width: 9%; text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> − </td><td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="width: 9%; text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> − </td><td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="width: 9%; text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;">11,272,665</td><td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> </td> <td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">$</td><td style="width: 9%; text-align: right; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">17,109,860</td><td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">$</td><td style="width: 9%; text-align: right; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">−</td><td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">$</td><td style="width: 9%; text-align: right; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">−</td><td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">$</td><td style="width: 9%; text-align: right; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">17,109,860</td><td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;"> </td> </tr> </table><table cellpadding="0" style="font-size: 10pt; border-collapse: collapse; font-family: &quot;Times New Roman&quot;, Times, serif; width: 100%; border-spacing: 0px;"> <tr><td style="width: 53%;"></td><td></td><td></td><td></td><td style="width: 1%;"></td><td></td><td></td><td></td><td style="width: 1%;"></td><td></td><td></td><td></td><td style="width: 1%;"></td><td></td><td></td><td></td></tr><tr style="height: 0px; font-size: 0px;"> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td colspan="15" style="text-align: center; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> <span style="font-weight: bold;">December 31, 2024</span> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="text-align: center; width: 9%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> <span style="font-weight: bold;">Level 1</span> </td><td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="text-align: center; width: 9%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> <span style="font-weight: bold;">Level 2</span> </td><td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="text-align: center; width: 9%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> <span style="font-weight: bold;">Level 3</span> </td><td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="text-align: center; width: 9%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> <span style="font-weight: bold;">Total</span> </td><td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> <div> Cash and cash equivalents </div> </td> <td style="width: 1%; text-align: left;">$</td><td style="width: 9%; text-align: right;">6,674,473</td><td style="width: 1%; text-align: left;"> </td> <td> </td> <td style="width: 1%; text-align: left;">$</td><td style="width: 9%; text-align: right;">−</td><td style="width: 1%; text-align: left;"> </td> <td> </td> <td style="width: 1%; text-align: left;">$</td><td style="width: 9%; text-align: right;">−</td><td style="width: 1%; text-align: left;"> </td> <td> </td> <td style="width: 1%; text-align: left;">$</td><td style="width: 9%; text-align: right;">6,674,473</td><td style="width: 1%; text-align: left;"> </td> </tr> <tr style="vertical-align: top;"> <td> <div> Held-to-maturity securities </div> </td> <td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="width: 9%; text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;">11,225,475</td><td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="width: 9%; text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> − </td><td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="width: 9%; text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> − </td><td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="width: 9%; text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;">11,225,475</td><td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> </td> <td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">$</td><td style="width: 9%; text-align: right; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">17,899,948</td><td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">$</td><td style="width: 9%; text-align: right; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">−</td><td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">$</td><td style="width: 9%; text-align: right; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">−</td><td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">$</td><td style="width: 9%; text-align: right; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">17,899,948</td><td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;"> </td> </tr> </table><div>  </div> <div style="text-align: justify;"> <span style="color: #000000;">The Company did not hold financial assets and liabilities which were recorded at fair value in the Level 2 or 3 categories as of March 31, 2025.</span> </div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="color: #000000;">The preceding methods may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, although the Company believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.</span> </div> <div style="text-align: justify;"> <span style="color: #000000;">The tables below set forth the Company’s cash and cash equivalents, as well as marketable securities as of </span><span>March 31, 2025 and December 31, 2024</span><span style="color: #000000;">, respectively, which are measured at fair value on a recurring basis by level within the fair value hierarchy.</span></div> <div style="text-align: justify;"> </div><table cellpadding="0" style="font-size: 10pt; border-collapse: collapse; font-family: &quot;Times New Roman&quot;, Times, serif; width: 100%; border-spacing: 0px;"> <tr style="height: 0px; font-size: 0px;"> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td colspan="15" style="text-align: center; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> <span style="font-weight: bold;">March 31, 2025</span> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="text-align: center; width: 9%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> <span style="font-weight: bold;">Level 1</span> </td><td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="text-align: center; width: 9%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> <span style="font-weight: bold;">Level 2</span> </td><td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="text-align: center; width: 9%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> <span style="font-weight: bold;">Level 3</span> </td><td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="text-align: center; width: 9%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> <span style="font-weight: bold;">Total</span> </td><td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> <div> Cash and cash equivalents </div> </td> <td style="width: 1%; text-align: left;">$</td><td style="width: 9%; text-align: right;">5,837,195</td><td style="width: 1%; text-align: left;"> </td> <td> </td> <td style="width: 1%; text-align: left;">$</td><td style="width: 9%; text-align: right;">−</td><td style="width: 1%; text-align: left;"> </td> <td> </td> <td style="width: 1%; text-align: left;">$</td><td style="width: 9%; text-align: right;">−</td><td style="width: 1%; text-align: left;"> </td> <td> </td> <td style="width: 1%; text-align: left;">$</td><td style="width: 9%; text-align: right;">5,837,195</td><td style="width: 1%; text-align: left;"> </td> </tr> <tr style="vertical-align: top;"> <td> <div> Held-to-maturity securities </div> </td> <td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="width: 9%; text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;">11,272,665</td><td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="width: 9%; text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> − </td><td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="width: 9%; text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> − </td><td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="width: 9%; text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;">11,272,665</td><td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> </td> <td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">$</td><td style="width: 9%; text-align: right; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">17,109,860</td><td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">$</td><td style="width: 9%; text-align: right; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">−</td><td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">$</td><td style="width: 9%; text-align: right; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">−</td><td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">$</td><td style="width: 9%; text-align: right; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">17,109,860</td><td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;"> </td> </tr> </table><table cellpadding="0" style="font-size: 10pt; border-collapse: collapse; font-family: &quot;Times New Roman&quot;, Times, serif; width: 100%; border-spacing: 0px;"> <tr><td style="width: 53%;"></td><td></td><td></td><td></td><td style="width: 1%;"></td><td></td><td></td><td></td><td style="width: 1%;"></td><td></td><td></td><td></td><td style="width: 1%;"></td><td></td><td></td><td></td></tr><tr style="height: 0px; font-size: 0px;"> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td colspan="15" style="text-align: center; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> <span style="font-weight: bold;">December 31, 2024</span> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="text-align: center; width: 9%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> <span style="font-weight: bold;">Level 1</span> </td><td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="text-align: center; width: 9%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> <span style="font-weight: bold;">Level 2</span> </td><td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="text-align: center; width: 9%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> <span style="font-weight: bold;">Level 3</span> </td><td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="text-align: center; width: 9%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> <span style="font-weight: bold;">Total</span> </td><td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> <div> Cash and cash equivalents </div> </td> <td style="width: 1%; text-align: left;">$</td><td style="width: 9%; text-align: right;">6,674,473</td><td style="width: 1%; text-align: left;"> </td> <td> </td> <td style="width: 1%; text-align: left;">$</td><td style="width: 9%; text-align: right;">−</td><td style="width: 1%; text-align: left;"> </td> <td> </td> <td style="width: 1%; text-align: left;">$</td><td style="width: 9%; text-align: right;">−</td><td style="width: 1%; text-align: left;"> </td> <td> </td> <td style="width: 1%; text-align: left;">$</td><td style="width: 9%; text-align: right;">6,674,473</td><td style="width: 1%; text-align: left;"> </td> </tr> <tr style="vertical-align: top;"> <td> <div> Held-to-maturity securities </div> </td> <td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="width: 9%; text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;">11,225,475</td><td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="width: 9%; text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> − </td><td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="width: 9%; text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> − </td><td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="width: 9%; text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;">11,225,475</td><td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> </td> <td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">$</td><td style="width: 9%; text-align: right; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">17,899,948</td><td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">$</td><td style="width: 9%; text-align: right; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">−</td><td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">$</td><td style="width: 9%; text-align: right; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">−</td><td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">$</td><td style="width: 9%; text-align: right; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">17,899,948</td><td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;"> </td> </tr> </table> 5837195 0 0 5837195 11272665 0 0 11272665 17109860 0 0 17109860 6674473 0 0 6674473 11225475 0 0 11225475 17899948 0 0 17899948 <div style="text-align: justify;"> <span>(6) Marketable Securities </span> </div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="color: #000000;">Based upon the Company’s intent and ability to hold its U.S. Treasury securities to maturity, such securities have been classified as held-to-maturity and are carried at amortized cost, which approximates fair market value. Maturities on these U.S. Treasury security holdings range from 12 to 25 months from the date of purchase. Accrued bond interest receivable as of March 31, 2025 and December 31, 2024 is $65,279 and $79,497, respectively.</span> </div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="color: #000000;">The tables below summarize the Company’s cost and fair value of marketable securities as of </span><span>March 31, 2025 and December 31, 2024</span><span style="color: #000000;">:</span> </div> <table cellpadding="0" style="font-size: 10pt; border-collapse: collapse; font-family: &quot;Times New Roman&quot;, Times, serif; width: 100%; border-spacing: 0px;"> <tr><td style="width: 47%;"> </td><td> </td><td style="width: 15%;"> </td><td> </td><td style="width: 1%;"> </td><td> </td><td style="width: 15%;"> </td><td> </td><td style="width: 1%;"> </td><td> </td><td style="width: 15%;"> </td><td> </td></tr><tr style="height: 0px; font-size: 0px;"> <td> </td> <td style="width: 1%;"> </td><td> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td colspan="11" style="text-align: center; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> <span style="font-weight: bold;">March 31, 2025</span> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="text-align : center; border-bottom : 2px solid black; border-top : none; border-left : none; border-right : none; vertical-align : bottom; "> <span style="font-weight: bold;">Amortized Cost</span> </td><td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="text-align : center; border-bottom : 2px solid black; border-top : none; border-left : none; border-right : none; white-space : nowrap; "> <span style="font-weight: bold;">Gross Unrealized Gain</span> </td><td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="text-align : center; border-bottom : 2px solid black; border-top : none; border-left : none; border-right : none; vertical-align : bottom; "> <span style="font-weight: bold;">Fair Value</span> </td><td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> </tr> <tr style="vertical-align: top;"> <td> <div> Held-to-maturity securities </div> </td> <td style="width: 1%;"> </td><td> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> <div style="text-indent : 10px; "> U.S. Treasury securities </div> </td> <td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">$</td><td style="text-align: right; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">11,272,665</td><td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">$</td><td style="text-align: right; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">221,335</td><td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">$</td><td style="text-align: right; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">11,494,000</td><td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;"> </td> </tr> </table> <table cellpadding="0" style="font-size: 10pt; border-collapse: collapse; font-family: &quot;Times New Roman&quot;, Times, serif; width: 100%; border-spacing: 0px;"> <tr><td style="width: 47%;"> </td><td> </td><td style="width: 15%;"> </td><td> </td><td style="width: 1%;"> </td><td> </td><td style="width: 15%;"> </td><td> </td><td style="width: 1%;"> </td><td> </td><td style="width: 15%;"> </td><td> </td></tr><tr style="height: 0px; font-size: 0px;"> <td> </td> <td style="width: 1%;"> </td><td> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td colspan="11" style="text-align: center; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> <span style="font-weight: bold;">December 31, 2024</span> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="text-align : center; border-bottom : 2px solid black; border-top : none; border-left : none; border-right : none; vertical-align : bottom; "> <span style="font-weight: bold;">Amortized Cost</span> </td><td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="text-align : center; border-bottom : 2px solid black; border-top : none; border-left : none; border-right : none; white-space : nowrap; "> <span style="font-weight: bold;">Gross Unrealized Gain</span> </td><td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="text-align : center; border-bottom : 2px solid black; border-top : none; border-left : none; border-right : none; vertical-align : bottom; "> <span style="font-weight: bold;">Fair Value</span> </td><td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> </tr> <tr style="vertical-align: top;"> <td> <div> Held-to-maturity securities </div> </td> <td style="width: 1%;"> </td><td> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> <div style="text-indent : 10px; "> U.S. Treasury securities </div> </td> <td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">$</td><td style="text-align: right; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">11,225,475</td><td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">$</td><td style="text-align: right; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">227,525</td><td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">$</td><td style="text-align: right; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">11,453,000</td><td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;"> </td> </tr> </table><div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span>Maturities of marketable securities were as follows as of March 31, 2025 and December 31, 2024:</span> </div> <div>  </div> <table cellpadding="0" style="font-size: 10pt; color: rgb(0, 0, 0); border-collapse: collapse; font-family: &quot;Times New Roman&quot;, Times, serif; width: 100%; border-spacing: 0px;"> <tr><td style="width: 77%;"> </td><td> </td><td> </td><td> </td><td style="width: 1%;"> </td><td> </td><td> </td><td> </td></tr><tr style="vertical-align: top;"> <td> </td> <td style="text-align: center; width: 1%;"> </td><td style="text-align: center; width: 9%;"> <span style="color: rgb(0, 0, 0); font-weight: bold;">March 31,</span> </td><td style="text-align: center; width: 1%;"> </td> <td> </td> <td style="text-align: center; width: 1%;"> </td><td style="text-align : center; width : 9%; white-space : nowrap; "> <span style="color: rgb(0, 0, 0); font-weight: bold;">December 31,</span> </td><td style="text-align: center; width: 1%;"> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="text-align: center; width: 9%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> <span style="color: rgb(0, 0, 0); font-weight: bold;">2025</span> </td><td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="text-align: center; width: 9%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> <span style="color: rgb(0, 0, 0); font-weight: bold;">2024</span> </td><td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top;"> <td> <div> Held-to-maturity securities: </div> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> <div>  </div> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> <div>  </div> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> <div> Due in one year or less </div> </td> <td style="width: 1%; text-align: left;">$</td><td style="width: 9%; text-align: right;">1,488,665</td><td style="width: 1%; text-align: left;"> </td> <td> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left;">$</td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right;">2,467,475</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td> </tr> <tr style="vertical-align: top;"> <td> <div> Due in 12 – 25 months </div> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;">9,784,000</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;">8,758,000</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 4.0pt;"> <td> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">$</td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">11,272,665</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">$</td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">11,225,475</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;"> </td> </tr> </table><div>  </div> <div style="text-align: justify;"> <span style="color: #000000;">The Company’s investments in marketable securities consist of investments in U.S. Treasury securities. Market values were determined for each individual security in the investment portfolio.</span> </div><div style="text-align: justify;"> <span style="color: #000000;">Management evaluates securities for other-than-temporary impairment at least on an annual basis, and more frequently when economic or market concerns warrant such evaluation. Consideration is given to (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. Management has determined that no other-than-temporary impairment exists as of March 31, 2025.</span> </div> 65279 79497 <div style="text-align: justify;"> <span style="color: #000000;">The tables below summarize the Company’s cost and fair value of marketable securities as of </span><span>March 31, 2025 and December 31, 2024</span><span style="color: #000000;">:</span> </div> <table cellpadding="0" style="font-size: 10pt; border-collapse: collapse; font-family: &quot;Times New Roman&quot;, Times, serif; width: 100%; border-spacing: 0px;"> <tr><td style="width: 47%;"> </td><td> </td><td style="width: 15%;"> </td><td> </td><td style="width: 1%;"> </td><td> </td><td style="width: 15%;"> </td><td> </td><td style="width: 1%;"> </td><td> </td><td style="width: 15%;"> </td><td> </td></tr><tr style="height: 0px; font-size: 0px;"> <td> </td> <td style="width: 1%;"> </td><td> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td colspan="11" style="text-align: center; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> <span style="font-weight: bold;">March 31, 2025</span> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="text-align : center; border-bottom : 2px solid black; border-top : none; border-left : none; border-right : none; vertical-align : bottom; "> <span style="font-weight: bold;">Amortized Cost</span> </td><td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="text-align : center; border-bottom : 2px solid black; border-top : none; border-left : none; border-right : none; white-space : nowrap; "> <span style="font-weight: bold;">Gross Unrealized Gain</span> </td><td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="text-align : center; border-bottom : 2px solid black; border-top : none; border-left : none; border-right : none; vertical-align : bottom; "> <span style="font-weight: bold;">Fair Value</span> </td><td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> </tr> <tr style="vertical-align: top;"> <td> <div> Held-to-maturity securities </div> </td> <td style="width: 1%;"> </td><td> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> <div style="text-indent : 10px; "> U.S. Treasury securities </div> </td> <td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">$</td><td style="text-align: right; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">11,272,665</td><td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">$</td><td style="text-align: right; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">221,335</td><td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">$</td><td style="text-align: right; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">11,494,000</td><td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;"> </td> </tr> </table> <table cellpadding="0" style="font-size: 10pt; border-collapse: collapse; font-family: &quot;Times New Roman&quot;, Times, serif; width: 100%; border-spacing: 0px;"> <tr><td style="width: 47%;"> </td><td> </td><td style="width: 15%;"> </td><td> </td><td style="width: 1%;"> </td><td> </td><td style="width: 15%;"> </td><td> </td><td style="width: 1%;"> </td><td> </td><td style="width: 15%;"> </td><td> </td></tr><tr style="height: 0px; font-size: 0px;"> <td> </td> <td style="width: 1%;"> </td><td> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td colspan="11" style="text-align: center; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> <span style="font-weight: bold;">December 31, 2024</span> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="text-align : center; border-bottom : 2px solid black; border-top : none; border-left : none; border-right : none; vertical-align : bottom; "> <span style="font-weight: bold;">Amortized Cost</span> </td><td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="text-align : center; border-bottom : 2px solid black; border-top : none; border-left : none; border-right : none; white-space : nowrap; "> <span style="font-weight: bold;">Gross Unrealized Gain</span> </td><td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="text-align : center; border-bottom : 2px solid black; border-top : none; border-left : none; border-right : none; vertical-align : bottom; "> <span style="font-weight: bold;">Fair Value</span> </td><td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> </tr> <tr style="vertical-align: top;"> <td> <div> Held-to-maturity securities </div> </td> <td style="width: 1%;"> </td><td> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> <div style="text-indent : 10px; "> U.S. Treasury securities </div> </td> <td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">$</td><td style="text-align: right; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">11,225,475</td><td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">$</td><td style="text-align: right; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">227,525</td><td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">$</td><td style="text-align: right; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">11,453,000</td><td style="width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;"> </td> </tr> </table> 11272665 221335 11494000 11225475 227525 11453000 <div style="text-align: justify;"> <span>Maturities of marketable securities were as follows as of March 31, 2025 and December 31, 2024:</span> </div> <div>  </div> <table cellpadding="0" style="font-size: 10pt; color: rgb(0, 0, 0); border-collapse: collapse; font-family: &quot;Times New Roman&quot;, Times, serif; width: 100%; border-spacing: 0px;"> <tr><td style="width: 77%;"> </td><td> </td><td> </td><td> </td><td style="width: 1%;"> </td><td> </td><td> </td><td> </td></tr><tr style="vertical-align: top;"> <td> </td> <td style="text-align: center; width: 1%;"> </td><td style="text-align: center; width: 9%;"> <span style="color: rgb(0, 0, 0); font-weight: bold;">March 31,</span> </td><td style="text-align: center; width: 1%;"> </td> <td> </td> <td style="text-align: center; width: 1%;"> </td><td style="text-align : center; width : 9%; white-space : nowrap; "> <span style="color: rgb(0, 0, 0); font-weight: bold;">December 31,</span> </td><td style="text-align: center; width: 1%;"> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="text-align: center; width: 9%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> <span style="color: rgb(0, 0, 0); font-weight: bold;">2025</span> </td><td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="text-align: center; width: 9%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> <span style="color: rgb(0, 0, 0); font-weight: bold;">2024</span> </td><td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top;"> <td> <div> Held-to-maturity securities: </div> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> <div>  </div> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> <div>  </div> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> <div> Due in one year or less </div> </td> <td style="width: 1%; text-align: left;">$</td><td style="width: 9%; text-align: right;">1,488,665</td><td style="width: 1%; text-align: left;"> </td> <td> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left;">$</td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right;">2,467,475</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td> </tr> <tr style="vertical-align: top;"> <td> <div> Due in 12 – 25 months </div> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;">9,784,000</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;">8,758,000</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 4.0pt;"> <td> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">$</td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">11,272,665</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">$</td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">11,225,475</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;"> </td> </tr> </table> 1488665 2467475 9784000 8758000 11272665 11225475 0 <div style="text-align: justify; color: rgb(0, 0, 0);"> <span>(7) Net Income per Share</span> </div> <div style="text-align: justify; margin-left: 36pt; color: #000000;">  </div> <div style="text-align: justify;"> <span>Basic net income per share is based on the weighted average number of common shares outstanding. Diluted net income per share is based on the weighted average number of common shares outstanding and the dilutive effect of outstanding stock options.</span> </div> <div style="text-align: justify; color: #000000;">  </div> <table cellpadding="0" style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; width: 100%; border-spacing: 0px;"> <tr><td> </td><td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td><td> </td><td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td></tr><tr style="height: 0px; font-size: 0px;"> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td colspan="7" style="text-align: center;"> <span style="font-weight: bold;">3 Months Ended</span> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td colspan="7" style="text-align: center; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> <span style="font-weight: bold;">March 31,</span> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td style="text-align: center; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none; width: 1%;"> </td><td style="text-align: center; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none; width: 9%;"> <span style="font-weight: bold;">2025</span> </td><td style="text-align: center; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none; width: 1%;"> </td> <td> </td> <td style="text-align: center; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none; width: 1%;"> </td><td style="text-align: center; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none; width: 9%;"> <span style="font-weight: bold;">2024</span> </td><td style="text-align: center; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none; width: 1%;"> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> <div> Weighted average common shares outstanding – basic </div> </td> <td style="text-align: left; width: 1%;"> </td><td style="text-align: right; width: 9%;">10,722,401</td><td style="text-align: left; width: 1%;"> </td> <td> </td> <td style="text-align: left; width: 1%;"> </td><td style="text-align: right; width: 9%;">10,722,401</td><td style="text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top;"> <td> <div> Potential shares exercisable under stock option plans </div> </td> <td style="text-align: left; width: 1%;"> </td><td style="text-align: right; width: 9%;">341,950</td><td style="text-align: left; width: 1%;"> </td> <td> </td> <td style="text-align: left; width: 1%;"> </td><td style="text-align: right; width: 9%;">258,000</td><td style="text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> <div> Less: Shares which could be repurchased under treasury stock method </div> </td> <td style="text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none; width: 1%;"> </td><td style="text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none; width: 9%;">(232,372</td><td style="text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none; width: 1%;">) </td> <td> </td> <td style="text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none; width: 1%;"> </td><td style="text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none; width: 9%;">(213,492</td><td style="text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none; width: 1%;">) </td> </tr> <tr style="vertical-align: top;"> <td> <div>  </div> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td>Weighted average common shares outstanding – diluted</td> <td style="text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none; width: 1%;"> </td><td style="text-align: right; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none; width: 9%;">10,831,979</td><td style="text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none; width: 1%;"> </td> <td> </td> <td style="text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none; width: 1%;"> </td><td style="text-align: right; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none; width: 9%;">10,766,909</td><td style="text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none; width: 1%;"> </td> </tr> </table><div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="color: #000000;">For the three months ended March 31, 2025, the computation of diluted net income per share excludes the effects of the assumed exercise of 611,850 stock options, since their inclusion would be anti-dilutive as their exercise prices were above average market value.</span> </div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="color: #000000;">For the three months ended March 31, 2024, the computation of diluted net income per share excludes the effects of the assumed exercise of 529,900 stock options, since their inclusion would be anti-dilutive as their exercise prices were above average market value.</span> </div> <div style="text-align: justify;"> <span>Basic net income per share is based on the weighted average number of common shares outstanding. Diluted net income per share is based on the weighted average number of common shares outstanding and the dilutive effect of outstanding stock options.</span> </div> <div style="text-align: justify; color: #000000;">  </div> <table cellpadding="0" style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; width: 100%; border-spacing: 0px;"> <tr><td> </td><td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td><td> </td><td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td></tr><tr style="height: 0px; font-size: 0px;"> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td colspan="7" style="text-align: center;"> <span style="font-weight: bold;">3 Months Ended</span> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td colspan="7" style="text-align: center; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> <span style="font-weight: bold;">March 31,</span> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td style="text-align: center; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none; width: 1%;"> </td><td style="text-align: center; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none; width: 9%;"> <span style="font-weight: bold;">2025</span> </td><td style="text-align: center; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none; width: 1%;"> </td> <td> </td> <td style="text-align: center; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none; width: 1%;"> </td><td style="text-align: center; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none; width: 9%;"> <span style="font-weight: bold;">2024</span> </td><td style="text-align: center; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none; width: 1%;"> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> <div> Weighted average common shares outstanding – basic </div> </td> <td style="text-align: left; width: 1%;"> </td><td style="text-align: right; width: 9%;">10,722,401</td><td style="text-align: left; width: 1%;"> </td> <td> </td> <td style="text-align: left; width: 1%;"> </td><td style="text-align: right; width: 9%;">10,722,401</td><td style="text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top;"> <td> <div> Potential shares exercisable under stock option plans </div> </td> <td style="text-align: left; width: 1%;"> </td><td style="text-align: right; width: 9%;">341,950</td><td style="text-align: left; width: 1%;"> </td> <td> </td> <td style="text-align: left; width: 1%;"> </td><td style="text-align: right; width: 9%;">258,000</td><td style="text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> <div> Less: Shares which could be repurchased under treasury stock method </div> </td> <td style="text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none; width: 1%;"> </td><td style="text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none; width: 9%;">(232,372</td><td style="text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none; width: 1%;">) </td> <td> </td> <td style="text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none; width: 1%;"> </td><td style="text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none; width: 9%;">(213,492</td><td style="text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none; width: 1%;">) </td> </tr> <tr style="vertical-align: top;"> <td> <div>  </div> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td>Weighted average common shares outstanding – diluted</td> <td style="text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none; width: 1%;"> </td><td style="text-align: right; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none; width: 9%;">10,831,979</td><td style="text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none; width: 1%;"> </td> <td> </td> <td style="text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none; width: 1%;"> </td><td style="text-align: right; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none; width: 9%;">10,766,909</td><td style="text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none; width: 1%;"> </td> </tr> </table> 10722401 10722401 341950 258000 232372 213492 10831979 10766909 611850 529900 <div style="text-align: justify;"> <span>(8) Commitments and Contingencies</span> </div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span>From time to time, the Company is involved in various legal proceedings arising in the ordinary course of business. The Company records a liability when it believes that a loss will be incurred and the amount of loss or range of loss can be reasonably estimated. Based on the currently available information, the Company does not believe that there are claims or legal proceedings that would have a material adverse effect on the business, or the condensed financial statements of the Company.</span> </div> <div style="text-align: justify;"> <span>(9) Segment Reporting</span> </div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span>The Company has a <span style="-sec-ix-hidden: hidden-fact-0"><span style="-sec-ix-hidden: hidden-fact-1">single</span></span> operating and reportable segment: SaaS subscription products. This segment includes add-ons and enhancements that can only be accessed with an active base subscription to its SaaS subscription products. The products are used mainly by subscribers to analyze commercial financial risk for the purpose of extending trade credit and managing the counterparty risk associated with these relationships.</span> </div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span>The Company’s CODM is its Chief Executive Officer and President. The CODM makes operating decisions, assesses performance and allocates resources using the entity-wide revenue and expense information reported on the Condensed Statements of Operations and the more detailed significant expense categories disclosed in the table below. The primary measure of segment profit is net income as reported on the Condensed Statements of Operations.</span> </div><table cellpadding="0" style="font-size: 10pt; color: rgb(0, 0, 0); border-collapse: collapse; font-family: &quot;Times New Roman&quot;, Times, serif; width: 100%; border-spacing: 0px;"> <tr><td style="width: 77%;"></td><td></td><td></td><td></td><td style="width: 1%;"></td><td></td><td></td><td></td></tr><tr style="height: 0px; font-size: 0px;"> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td colspan="7" style="text-align: center;"> <span style="color: rgb(0, 0, 0); font-weight: bold;">3 Months Ended</span> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td colspan="7" style="text-align: center; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> <span style="color: rgb(0, 0, 0); font-weight: bold;">March 31,</span> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="text-align: center; width: 9%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> <span style="color: rgb(0, 0, 0); font-weight: bold;">2025</span> </td><td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="text-align: center; width: 9%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> <span style="color: rgb(0, 0, 0); font-weight: bold;">2024</span> </td><td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> <div> <span style="color: #000000;">Segment operating revenues</span> </div> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-width: initial; border-style: none; border-color: initial;">$</td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right; border-width: initial; border-style: none; border-color: initial;">4,871,412</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-width: initial; border-style: none; border-color: initial;"> </td> <td> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-width: initial; border-style: none; border-color: initial;">$</td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right; border-width: initial; border-style: none; border-color: initial;">4,808,707</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-width: initial; border-style: none; border-color: initial;"> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> <div> <span style="color: #000000;">Less: </span> </div> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top;"> <td> <div style="text-indent : 10px; "> <span style="color: #000000;">Significant segment expenses</span> </div> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> <div style="text-indent : 20px; "> <span style="color: #000000;">Data and product costs</span> </div> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top;"> <td> <div style="text-indent : 30px; "> <span style="color: #000000;">Employee expenses</span> </div> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right;">1,498,114</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td> <td> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right;">1,460,862</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> <div style="text-indent : 30px; "> <span style="color: #000000;">Data feed expenses</span> </div> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right;">534,901</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td> <td> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right;">483,100</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td> </tr> <tr style="vertical-align: top;"> <td> <div style="text-indent : 30px; "> Hosting and computer services expenses </div> </td> <td style="width: 1%; text-align: left;"> </td><td style="width: 9%; text-align: right;">58,714</td><td style="width: 1%; text-align: left;"> </td> <td> </td> <td style="width: 1%; text-align: left;"> </td><td style="width: 9%; text-align: right;">39,814</td><td style="width: 1%; text-align: left;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> <div style="text-indent : 30px; "> Other data and product costs </div> </td> <td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="width: 9%; text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;">191,645</td><td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="width: 9%; text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;">214,001</td><td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> </tr> <tr style="vertical-align: top;"> <td> <div style="text-indent : 20px; "> Data and product costs subtotal </div> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;">2,283,374</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="width: 9%; text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;">2,197,777</td><td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top;"> <td> <div style="text-indent : 20px; "> Selling, general and administrative expenses </div> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> <div style="text-indent : 30px; "> <span style="color: #000000;">Employee expenses</span> </div> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right;">1,914,112</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td> <td> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right;">2,009,324</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td> </tr> <tr style="vertical-align: top;"> <td> <div style="text-indent : 30px; "> <span style="color: #000000;">Professional fee expenses</span> </div> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right;">103,106</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td> <td> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right;">146,834</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> <div style="text-indent : 30px; "> <span style="color: #000000;">Marketing expenses <span style="font-size: .83em; vertical-align: super;">(1)</span></span> </div> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right;">208,791</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td> <td> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right;">217,548</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td> </tr> <tr style="vertical-align: top;"> <td> <div style="text-indent : 30px; "> <span style="color: #000000;">Occupancy expenses <span style="font-size: .83em; vertical-align: super;">(2)</span></span> </div> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right;">110,344</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td> <td> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right;">109,939</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> <div style="text-indent : 30px; "> <span style="color: #000000;">Other general and administrative expenses</span> </div> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;">140,598</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;">69,956</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> </tr> <tr style="vertical-align: top;"> <td> <div style="text-indent : 20px; "> Selling, general and administrative expenses subtotal </div> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;">2,476,951</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="width: 9%; text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;">2,553,601</td><td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top;"> <td> <div style="text-indent : 10px; "> <span style="color: #000000;">Other significant segment items</span> </div> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> <div style="text-indent : 20px; "> <span style="color: #000000;">Depreciation and amortization</span> </div> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right;">85,720</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td> <td> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right;">93,170</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td> </tr> <tr style="vertical-align: top;"> <td> <div style="text-indent : 20px; "> <span style="color: #000000;">Other (income), net</span> </div> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right;">(180,833</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left;">) </td> <td> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right;">(201,759</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left;">) </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> <div style="text-indent : 20px; "> <span style="color: #000000;">Provision for income taxes</span> </div> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;">47,138</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;">38,511</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> <div> <span style="color: #000000;">Segment net income</span> </div> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">$</td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">159,062</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">$</td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">127,407</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;"> </td> </tr> </table><div>  </div> <div> <span style="color: #000000;"><span style="font-size: 8pt;">⁽¹⁾</span> Marketing expenses include vendors, trade show conferences, and promotional materials.</span> </div> <div> <span style="color: #000000;"><span style="font-size: 8pt;">⁽²⁾</span>Occupancy expenses include rent, utilities, repairs, and office supplies.</span> </div> The CODM makes operating decisions, assesses performance and allocates resources using the entity-wide revenue and expense information reported on the Condensed Statements of Operations and the more detailed significant expense categories disclosed in the table below. The primary measure of segment profit is net income as reported on the Condensed Statements of Operations.<table cellpadding="0" style="font-size: 10pt; color: rgb(0, 0, 0); border-collapse: collapse; font-family: &quot;Times New Roman&quot;, Times, serif; width: 100%; border-spacing: 0px;"> <tr><td style="width: 77%;"></td><td></td><td></td><td></td><td style="width: 1%;"></td><td></td><td></td><td></td></tr><tr style="height: 0px; font-size: 0px;"> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td colspan="7" style="text-align: center;"> <span style="color: rgb(0, 0, 0); font-weight: bold;">3 Months Ended</span> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td colspan="7" style="text-align: center; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> <span style="color: rgb(0, 0, 0); font-weight: bold;">March 31,</span> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="text-align: center; width: 9%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> <span style="color: rgb(0, 0, 0); font-weight: bold;">2025</span> </td><td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="text-align: center; width: 9%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> <span style="color: rgb(0, 0, 0); font-weight: bold;">2024</span> </td><td style="text-align: center; width: 1%; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> <div> <span style="color: #000000;">Segment operating revenues</span> </div> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-width: initial; border-style: none; border-color: initial;">$</td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right; border-width: initial; border-style: none; border-color: initial;">4,871,412</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-width: initial; border-style: none; border-color: initial;"> </td> <td> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-width: initial; border-style: none; border-color: initial;">$</td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right; border-width: initial; border-style: none; border-color: initial;">4,808,707</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-width: initial; border-style: none; border-color: initial;"> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> <div> <span style="color: #000000;">Less: </span> </div> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top;"> <td> <div style="text-indent : 10px; "> <span style="color: #000000;">Significant segment expenses</span> </div> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> <div style="text-indent : 20px; "> <span style="color: #000000;">Data and product costs</span> </div> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top;"> <td> <div style="text-indent : 30px; "> <span style="color: #000000;">Employee expenses</span> </div> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right;">1,498,114</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td> <td> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right;">1,460,862</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> <div style="text-indent : 30px; "> <span style="color: #000000;">Data feed expenses</span> </div> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right;">534,901</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td> <td> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right;">483,100</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td> </tr> <tr style="vertical-align: top;"> <td> <div style="text-indent : 30px; "> Hosting and computer services expenses </div> </td> <td style="width: 1%; text-align: left;"> </td><td style="width: 9%; text-align: right;">58,714</td><td style="width: 1%; text-align: left;"> </td> <td> </td> <td style="width: 1%; text-align: left;"> </td><td style="width: 9%; text-align: right;">39,814</td><td style="width: 1%; text-align: left;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> <div style="text-indent : 30px; "> Other data and product costs </div> </td> <td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="width: 9%; text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;">191,645</td><td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="width: 9%; text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;">214,001</td><td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> </tr> <tr style="vertical-align: top;"> <td> <div style="text-indent : 20px; "> Data and product costs subtotal </div> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;">2,283,374</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="width: 9%; text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;">2,197,777</td><td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top;"> <td> <div style="text-indent : 20px; "> Selling, general and administrative expenses </div> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> <div style="text-indent : 30px; "> <span style="color: #000000;">Employee expenses</span> </div> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right;">1,914,112</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td> <td> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right;">2,009,324</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td> </tr> <tr style="vertical-align: top;"> <td> <div style="text-indent : 30px; "> <span style="color: #000000;">Professional fee expenses</span> </div> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right;">103,106</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td> <td> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right;">146,834</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> <div style="text-indent : 30px; "> <span style="color: #000000;">Marketing expenses <span style="font-size: .83em; vertical-align: super;">(1)</span></span> </div> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right;">208,791</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td> <td> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right;">217,548</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td> </tr> <tr style="vertical-align: top;"> <td> <div style="text-indent : 30px; "> <span style="color: #000000;">Occupancy expenses <span style="font-size: .83em; vertical-align: super;">(2)</span></span> </div> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right;">110,344</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td> <td> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right;">109,939</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> <div style="text-indent : 30px; "> <span style="color: #000000;">Other general and administrative expenses</span> </div> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;">140,598</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;">69,956</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> </tr> <tr style="vertical-align: top;"> <td> <div style="text-indent : 20px; "> Selling, general and administrative expenses subtotal </div> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;">2,476,951</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="width: 9%; text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;">2,553,601</td><td style="width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top;"> <td> <div style="text-indent : 10px; "> <span style="color: #000000;">Other significant segment items</span> </div> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> <div style="text-indent : 20px; "> <span style="color: #000000;">Depreciation and amortization</span> </div> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right;">85,720</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td> <td> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right;">93,170</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td> </tr> <tr style="vertical-align: top;"> <td> <div style="text-indent : 20px; "> <span style="color: #000000;">Other (income), net</span> </div> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right;">(180,833</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left;">) </td> <td> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right;">(201,759</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left;">) </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> <div style="text-indent : 20px; "> <span style="color: #000000;">Provision for income taxes</span> </div> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;">47,138</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;">38,511</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 2px solid black; border-top: none; border-left: none; border-right: none;"> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td> </td> <td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; background-color: rgb(204, 238, 255);"> <td> <div> <span style="color: #000000;">Segment net income</span> </div> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">$</td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">159,062</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;"> </td> <td> </td> <td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">$</td><td style="color: rgb(0, 0, 0); width: 9%; text-align: right; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;">127,407</td><td style="color: rgb(0, 0, 0); width: 1%; text-align: left; border-bottom: 4px double black; border-top: none; border-left: none; border-right: none;"> </td> </tr> </table><div>  </div> <div> <span style="color: #000000;"><span style="font-size: 8pt;">⁽¹⁾</span> Marketing expenses include vendors, trade show conferences, and promotional materials.</span> </div> <div> <span style="color: #000000;"><span style="font-size: 8pt;">⁽²⁾</span>Occupancy expenses include rent, utilities, repairs, and office supplies.</span> </div> 4871412 4808707 1498114 1460862 534901 483100 58714 39814 191645 214001 2283374 2197777 1914112 2009324 103106 146834 208791 217548 110344 109939 140598 69956 2476951 2553601 85720 93170 180833 201759 47138 38511 159062 127407 1 1 0000315958 false Q1 --12-31 Marketing expenses include vendors, trade show conferences, and promotional materials. Occupancy expenses include rent, utilities, repairs, and office supplies.