| Schedule of Outstanding Convertible Note |
The table below summarizes the outstanding Convertible Note as of March
31, 2025 and December 31, 2024:
| | |
March 31,
2025 | | |
December 31,
2024 | |
| Principal value of Convertible Notes (1) | |
$ | 20,555,820 | | |
$ | 17,836,864 | |
| Debt discount, net of amortization(2) | |
| (3,316,899
| ) | |
| (3,750,932 | ) |
| Convertible Note payable | |
$ | 17,238,921
| | |
$ | 14,085,932 | |
| (1) | Includes $17,497,739 and $16,644,699 of principal for the December 2023 Convertible Note as of March 31, 2025 and December 31, 2024, respectively and $1,253,475 and $1,192,165 of principal for the August 2024 Convertible Note as of March 31, 2025 and December 31, 2024, respectively and $1,804,606 and $0 of principal for the January 2025 Convertible Note. |
| (2) | Includes $2,966,525 and $3,419,065 of debt discount for the December 2023 Convertible Note as of March 31, 2025 and December 31, 2024, respectively and $187,836 and $331,867 of debt discount for the August 2024 Convertible Note as of March 31, 2025 and December 31, 2024, respectively and $162,538 and $0 of debt discount for the January 2025 Convertible Note as of March 31, 2025 and December 31, 2024, respectively. |
|
| Schedule of Disaggregation of Interest Expense |
The table below presents the disaggregation of interest expense for
the three months ended March 31, 2025:
| | |
Three months
ended
March 31,
2025 | |
| Contractual interest expense | |
$ | 1,136,606 | |
| Debt discount amortization | |
| 448,413 | |
| Debt issuance cost amortization | |
| 271,960 | |
| Total | |
$ | 1,856,979 | |
|