Company: ANIX
Filing Date: 2025-03-11
Form Type: 10-Q
Source: 0001493152-25-009854
Chunk: 13

Company: Anixa Biosciences Inc
Filing Date: 2025-03-11
Form: 10-Q
Item: Part I, Item 8
Chunk 13
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 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 January 31, 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 
    $912  
    $-  
    $-  
    $912 
  
    Bitcoin exchange traded funds: 

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

    Short-term investments 
     -  
     16,192  
     -  
     16,192 
  
    Total financial assets 
    $912  
    $16,202  
    $-  
    $17,114 

The following table presents the
hierarchy for our financial assets measured at fair value on a recurring basis as of October 31, 2024 (in thousands):

    Level 1  
    Level 2  
    Level 3  
    Total 
  
    Money market funds: 

    Cash equivalents 
    $1,170  
    $-  
    $-  
    $1,170 
  
    U.S. treasury bills: 

    Short-term investments 
     -  
     18,653  
     -  
     18,653 
  
    Total financial assets 
    $1,170  
    $18,653  
    $-  
    $19,823 

Our non-financial assets that
are measured at fair value on a non-recurring basis are property and equipment and other assets which are measured using fair value techniques
whenever events or changes in circumstances indicate a condition of impairment exists. The estimated fair value of prepaid expenses and
other current assets, accounts payable and accrued expenses approximates their individual carrying amounts due to the short-term nature
of these measurements. Cash equivalents are stated at carrying value which approximates fair value.

     12 

5. ACCRUED EXPENSES

Accrued expenses consist of the