v3.25.1
Summary of Significant Accounting Policies (Tables)
3 Months Ended
Mar. 31, 2025
Summary of Significant Accounting Policies [Abstract]  
Schedule of Fair Value of Financial Instruments Measured on a Recurring Basis

The fair value of financial instruments measured on a recurring basis is as follows as of March 31, 2025 and December 31, 2024:

 

   As of March 31, 2025 
Description  Total   Level 1   Level 2   Level 3 
Liabilities:                
Contingent warrant liability  $52,884    
        —
    
        —
   $52,884 
Subscription agreement liability – related party  $804,000    
    
   $804,000 
Total  $856,884   $
   $
   $856,884 

 

   As of December 31, 2024 
Description  Total   Level 1   Level 2   Level 3 
Liabilities:                
Contingent warrant liability  $43,089    
       —
    
      —
   $43,089 
Subscription agreement liability – related party  $4,123,000    
    
   $4,123,000 
Total  $4,166,089   $
   $
   $4,166,089 
Schedule of Activity Fair Value Liabilities

The following table summarizes the activity for the related party subscription agreement liability, using unobservable Level 3 inputs, for the three months ended March 31, 2025:

 

   Subscription Agreement
Liability
 
Balance at December 31, 2024  $4,123,000 
Change in fair value   (3,319,000)
Balance at March 31, 2025  $804,000 

 

The following table summarizes the activity for the contingent warrant liability, using unobservable Level 3 inputs, for the three months ended March 31, 2025:

 

   Contingent Warrant Liability 
Balance at December 31, 2024  $43,089 
Change in fair value   9,795 
Balance at March 31, 2025  $52,884 
Schedule of Revenue was Generated from the Following Geographic Regions

The Company’s revenue was generated from the following geographic regions during the three months ended March 31, 2025: 

 

   European
Union
   Non-European
Union (UK)
   United
States
 
Development services   100%   
   —
%   
        —
%
Product sales   93%   7%   
%

 

   European
Union
   Non-European
Union (UK)
   United
States
   Total
Revenue
 
Development services  $1,514   $
   $
   $1,514 
Product sales   92,870    7,246   $
    100,116 
Total  $94,384   $7,246   $
   $101,630 

 

The Company’s revenue was generated from the following geographic regions during the three months ended March 31, 2024:

 

   European
Union
   Non-European
Union (UK)
   United
States
 
Development services   100%   
%   
%
Product sales   
%   14%   86%

 

   European
Union
   Non-European
Union (UK)
   United
States
   Total
Revenue
 
Development services  $622,985   $
   $
   $622,985 
Product sales   
    13,945   $63,503    77,448 
Total  $622,985   $13,945   $63,503   $700,433 
Schedule of Customer Concentrations for Revenue

The Company had the following customer concentrations for its revenue during the three months ended March 31, 2025 and 2024:

 

   For the Three Months Ended
March 31, 2025
   For the Three Months Ended
March 31, 2024
 
   Development Services   Product Sales   Development Services   Product Sales 
Customer A   100%   93%   100%   
%
Customer B   
%   
%   
%   86%
Customer C   
%   2%   
%   
%
Customer D   
%   5%   
%   
%