v3.25.2
CONVERTIBLE NOTES (Tables)
6 Months Ended
Jun. 30, 2025
Debt Conversion [Line Items]  
Schedule of Convertible Debt

The following table provides a summary of the activity of the Company's Convertible Notes:

 

 

Principal
Balance
1/1/2024

 

Notes converted

 

Notes paid

 

Net Principal
Balance
6/30/2024

 

L1 Capital Global Opportunities Master Fund, Ltd

$

406,667

 

$

(400,000

)

$

(6,667

)

$

 

Schedule of Fair Value of Warrants The fair value of the Common Stocks or Pre-Funded Warrants was determined using the closing price of the stock at close of the Offering (Level 1 on the fair value hierarchy) and the fair

value of the Warrants was determined using the Black Scholes model using the following inputs (Level 2 on the fair value hierarchy):

 

Inputs

 

 

Expected stock price volatility

 

156.5

 

%

Dividend yield

0

 

%

Risk-free interest rate

3.7

 

%

Expected life of the options (in years)

2.5

 

 

Convertible Debt  
Debt Conversion [Line Items]  
Schedule of Fair Value of Warrants The expense represents the estimated fair value of the warrants at the issuance date and was determined using the Black Scholes model using the following inputs:

 

 

Inputs

Expected stock price volatility

154.5

%

Dividend yield

0

%

Risk-free interest rate

4.75

%

Expected life of the warrants (in years)

2.75