Company: ANIX
Filing Date: 2025-05-28
Form Type: 10-Q
Source: 0001641172-25-012701
Chunk: 13

Company: Anixa Biosciences Inc
Filing Date: 2025-05-28
Form: 10-Q
Item: Part I, Item 8
Chunk 13
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. During the three months ended April 30, 2025, the Company cancelled the treasury shares resulting in a
reduction in shares outstanding and paid-in capital.

4. FAIR VALUE MEASUREMENTS

US GAAP defines fair value and
establishes a framework for measuring fair value. We have categorized our financial assets and liabilities, based on the priority of the
inputs to the valuation technique, into a three-level fair value hierarchy as set forth below. If the inputs used to measure the financial
instruments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to
the fair value measurement of the instrument.

Financial assets and liabilities
recorded in the accompanying condensed consolidated balance sheets are categorized based on the inputs to the valuation techniques as
follows:

Level 1 – Financial instruments
whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market which we have the ability to
access at the measurement date.

Level 2 – Financial instruments
whose values are based on quoted market prices in markets where trading occurs infrequently or whose values are based on quoted prices
of instruments with similar attributes in active markets.

Level 3 – Financial instruments
whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall
fair value measurement. These inputs reflect management’s own assumptions about the assumptions a market participant would use in
pricing the instrument.

The following table presents the
hierarchy for our financial assets measured at fair value on a recurring basis as of April 30, 2025 (in thousands):

 SCHEDULE OF FINANCIAL ASSETS MEASURED AT FAIR VALUE ON A RECURRING BASIS

    Level 1  
    Level 2  
    Level 3  
    Total 
  
    Money market funds: 

    Cash equivalents 
    $1,809  
    $-  
    $ -  
    $1,809 
  
    Bitcoin exchange traded funds: 

    Short-term investments 
     -  
     10  
     -  
     10 
  
    U.S. treasury bills: 

    Short-term investments 
     -  
     13,677  
     -  
     13,677 
  
    Total financial assets 
    $1,809  
    $13,687  
    $-  
    $15,