| Schedule of Fair Value of the Company’s Earnout Liability |
On March 31, 2025
and December 31, 2024, the fair value of the Company’s earnout liability (see Note 10 for details) was classified as follows:
| | |
March 31, 2025 | |
| | |
Level 1 | | |
Level 2 | | |
Level 3 | | |
Total | |
| Earnout liability | |
$ | - | | |
$ | - | | |
$ | 20,000 | | |
$ | 20,000 | |
| | |
December 31, 2024 | |
| | |
Level 1 | | |
Level 2 | | |
Level 3 | | |
Total | |
| Earnout liability | |
$ | - | | |
$ | - | | |
$ | 20,000 | | |
$ | 20,000 | |
|
At December 31, 2024 and 2023, the fair value of the Company’s earnout liability and
preferred stock warrant liability (see Note 10 for details) was classified as follows:
| | |
December 31, 2024 | |
| | |
Level 1 | | |
Level 2 | | |
Level 3 | | |
Total | |
| Earnout liability | |
$ | - | | |
$ | - | | |
$ | 20,000 | | |
$ | 20,000 | |
| | |
December 31, 2023 | |
| | |
Level 1 | | |
Level 2 | | |
Level 3 | | |
Total | |
| Preferred stock warrant liability | |
$ | - | | |
$ | - | | |
$ | 320,117 | | |
$ | 320,117 | |
|
| Schedule of Change in the Fair Value Measurement Using Significant Inputs |
The change in the fair value measurement using
significant inputs (Level 3) is summarized below:
| Preferred stock warrant liability (Predecessor): | |
| |
| Balance at December 31, 2023 | |
$ | 320,117 | |
| Gain on revaluation of warrant liability | |
| (320,117 | ) |
| Balance at February 14, 2024 | |
$ | - | |
| | |
| | |
| Earnout liability (Successor): | |
| | |
| Balance at February 14, 2024 | |
$ | 4,900,000 | |
| Gain on revaluation of earnout liability | |
| (1,800,000 | ) |
| Balance at March 31, 2024 | |
$ | 3,100,000 | |
| Earnout liability (Successor): | |
| |
| Balance at December 31, 2024 | |
$ | 20,000 | |
| Gain on revaluation of earnout liability | |
| - | |
| Balance at March 31, 2025 | |
$ | 20,000 | |
|
The change in the fair value measurement using
significant inputs (Level 3) is summarized below:
| Preferred stock warrant liability (Predecessor): | |
| |
| Balance at January 1, 2023 | |
$ | 610,381 | |
| Gain on revaluation of warrant liability | |
| (290,264 | ) |
| Balance at December 31, 2023 | |
| 320,117 | |
| Gain on revaluation of warrant liability | |
| (320,117 | ) |
| Balance at February 14, 2024 | |
$ | - | |
| | |
| | |
| Earnout liability (Successor): | |
| | |
| Balance at February 14, 2024 | |
$ | 4,900,000 | |
| Gain on revaluation of earnout liability | |
| (4,880,000 | ) |
| Balance at December 31, 2024 | |
$ | 20,000 | |
|