v3.25.2
FAIR VALUE MEASUREMENTS (Tables)
6 Months Ended
Jun. 30, 2025
Class of Warrant or Right [Line Items]  
SCHEDULE OF A RECONCILIATION OF THE FAIR VALUES

The following is a reconciliation of the fair values from December 31, 2024 to June 30, 2025.

 

(in thousands)  Fair Value of August 2022 Warrants   Fair Value of March 2025 Warrants   Total Fair Value of Warrant Liability 
August 2022 Warrant liability – December 31, 2024  $60   $-   $60 
Warrant liability– March 12, 2025        1,477    1,477 
Change in fair value (gain) reported in statement of operations   (50)   (247)   (297)
Warrant liability – June 30, 2025  $10   $1,230   $1,240 
SCHEDULE OF CARRYING AND FAIR VALUE OF LOAN PAYABLE

 

       June 30,   December 31, 
       2025   2024 
(in thousands)  Fair Value
Hierarchy
   Carrying
Value
   Fair Value   Carrying
Value
   Fair Value 
DECD loan   Level 3   $1,395   $1,105   $1,511   $1,169 
2022 Warrants [Member]  
Class of Warrant or Right [Line Items]  
SCHEDULE OF ASSUMPTIONS USED TO CALCULATE FAIR VALUE OF WARRANTS

 

   June 30, 2025   December 31, 2024 
  

2022
Unmodified
Warrants

  

2022
Modified
Warrants

  

2022
Unmodified
Warrants

  

2022
Modified
Warrants

 
Dividend yield   -%   -%   -%   -%
Volatility   151.5%   139.6%   111.3%   103.6%
Risk-free interest rate   3.68%   3.68%   4.22%   4.28%
Expected lives (years)   2.14    3.58    2.64    4.07 
Weighted average fair value  $0.016   $0.059   $0.101   $0.162 
March2025 Warrants [Member]  
Class of Warrant or Right [Line Items]  
SCHEDULE OF ASSUMPTIONS USED TO CALCULATE FAIR VALUE OF WARRANTS

 

   June 30, 2025   March 12, 2025 
Exercise price (first 24 months)  $0.25   $0.25 
Exercise price  $0.50   $0.50 
Volatility   126.9%   105.7%
Risk-free interest rate   3.77%   4.03%
Remaining term (years)   4.7    5.0 
Weighted average fair value  $0.10   $0.12