v3.25.2
Fair Value Measurements (Tables)
 3 Months Ended 12 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Fair Value Measurements [Line Items]    
Schedule of Earnout Liability at Estimated Fair Value Using a Monte Carlo Analysis  

Predecessor estimated the fair value of the Predecessor Series A Preferred Stock Warrants at December 31, 2023, using Black-Scholes with the following assumptions:

 

   December 31, 
   2023 
   (Predecessor) 
Risk-free interest rate   5.40%
Expected life (in years)   0.25 
Expected dividend yield   -%
Expected volatility   65.90%
Schedule of Change in the Fair Value Measurement Using Significant Inputs

The classification of the fair value of the earnout liability and derivative liabilities and the change in the fair value measurement using significant inputs (Level 3) for the three months ended March 31, 2025 and for the period from January 1, 2024 through February 14, 2024 for the Predecessor and February 14, 2024 through December 31, 2024 for the Company is presented below:

 

   Level 1   Level 2   Level 3   Total 
Preferred stock warrant liability (Predecessor):                    
Balance at December 31, 2023  $
     -
   $
     -
   $320,117    320,117 
Reclassification of warrant liability to equity   
-
    
-
    (320,117)   (320,117)
Balance at February 13, 2024  $
-
   $
-
   $
-
   $
-
 
                     
Earnout liability (Successor):                    
Balance at February 14, 2024   
-
    
-
    4,900,000    4,900,000 
Gain on revaluation of earnout liability   
-
    
-
    (1,800,000)   (1,800,000)
Balance at March 31, 2024  $
-
   $
-
   $3,100,000   $3,100,000 
Earnout liability (Successor):                    
Balance at December 31, 2024   
-
    
-
    20,000    20,000 
Gain on revaluation of earnout liability   
-
    
-
    
-
    
-
 
Balance at March 31, 2025  $
-
   $
-
   $20,000   $20,000 

The classification of the fair value of the earnout liability and derivative liabilities and the change in the fair value measurement using significant inputs (Level 3) for the year ended December 31, 2023 and for the period from January 1, 2024 through February 14, 2024 for Predecessor and February 14, 2024 through December 31, 2024 for the Company is presented below:

 

   Level 1   Level 2   Level 3   Total 
Preferred stock warrant liability (Predecessor):                
Balance at January 1, 2023  $
     -
   $
     -
   $610,381   $610,381 
Gain on revaluation of warrant liability   
-
    
-
    (290,264)   (290,264)
Balance at December 31, 2023   
-
    
-
    320,117    320,117 
Reclassification of warrant liability to equity   
-
    
-
    (320,117)   (320,117)
Balance at February 13, 2024  $
-
   $
-
   $
-
   $
-
 
                     
Earnout liability (Successor):                    
Balance at February 14, 2024   
-
    
-
    4,900,000    4,900,000 
Gain on revaluation of earnout liability   
-
    
-
    (4,880,000)   (4,880,000)
Balance at December 31, 2024  $
-
   $
-
   $20,000   $20,000 
Earnout Liability [Member]    
Fair Value Measurements [Line Items]    
Schedule of Earnout Liability at Estimated Fair Value Using a Monte Carlo Analysis

The Company initially recorded the earnout liability at estimated fair value using a Monte Carlo analysis and has revalued the Earnout liability at each subsequent period. The Monte Carlo analysis used the following assumptions:

 

       February 14 
   March 31,
2025		   2024 to
March 31,
2024		 
   (Successor)   (Successor) 
Starting share price  $14.60    $6,140.00 to $9,800.00 
Tranche 1 trigger price  $2,500.00    $64.00 to $78.20 
Tranche 2 trigger price  $3,000.00    $77.00 to $94.00 
Contractual term (in years)   2.9    3.9 to 4.0 
Volatility   100%   90%
Risk-free interest rate   3.82%   4.20% to 4.21% 

The Company initially recorded the earnout liability at estimated fair value using a Monte Carlo analysis and has revalued the Earnout liability at each subsequent period. The Monte Carlo analysis used the following assumptions:

 

   December 31,   February 14 
   2024   2024 
   (Successor)   (Successor) 
Starting share price  $120.00   $9,800.00 
Tranche 1 trigger price  $25.00   $64.00 
Tranche 2 trigger price  $25.00   $77.00 
Contractual term   3.1    4.0 
Volatility   100%   90%
Risk-free interest rate   4.23%   4.20%