| Schedule of Company's Financial Assets and Liabilities |
The following table presents fair value
information as of June 30, 2025 and December 31, 2024, of the Company’s financial assets and liabilities that were accounted for
at fair value on a recurring basis and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine
such fair value.
| June 30, 2025 | |
Total | | |
Level 1 | | |
Level 2 | | |
Level 3 | |
| Private warrant liability | |
$ | 735,870 | | |
$ | - | | |
$ | 735,870 | | |
$ | - | |
| Convertible note option liability | |
| 270 | | |
| - | | |
| - | | |
| 270 | |
| Earn-out share liability | |
| 6,760,000 | | |
| - | | |
| - | | |
| 6,760,000 | |
| Total | |
$ | 7,496,140 | | |
| - | | |
| 735,870 | | |
| 6,760,270 | |
| December 31, 2024 | |
Total | | |
Level 1 | | |
Level 2 | | |
Level 3 | |
| Assets | |
| | |
| | |
| | |
| |
| Money Market Funds | |
$ | - | | |
$ | - | | |
$ | - | | |
$ | - | |
| Liabilities | |
| | | |
| | | |
| | | |
| | |
| Private warrant liability | |
| 840,994 | | |
| - | | |
| 840,994 | | |
| - | |
| Convertible note option liability | |
| 60,000 | | |
| - | | |
| - | | |
| 60,000 | |
| Earn-out Share Liability | |
| 15,560,000 | | |
| - | | |
| - | | |
| 15,560,000 | |
| Total | |
$ | 16,460,994 | | |
| - | | |
| 840,994 | | |
| 15,620,000 | |
|
| Schedule of Convertible Note Option Liability and Earn-out Share Liability |
The key inputs into the option pricing
model for the convertible note option liability were as follows:
| | |
June 30,
2025 | | |
December 31,
2024 | |
| Stock Price | |
$ | 1.83 | | |
$ | 3.81 | |
| Expected term (years) | |
| 0.70 | | |
| 1.2 | |
| Volatility | |
| 95 | % | |
| 75.0 | % |
| Risk-Free Rate | |
| 4.16 | % | |
| 4.18 | % |
| Interest rate | |
| 6.45 | % | |
| 6.49 | % |
The key inputs for the Earn-out Share
Liability were as follows:
| | |
June 30,
2025 | | |
December 31,
2024 | |
| Stock Price | |
$ | 1.83 | | |
$ | 6.5 | |
| Expected term (years) | |
| 9.2 | | |
| 10 | |
| Volatility | |
| 80 | % | |
| 75.0 | % |
| Risk-Free Rate | |
| 4.19 | % | |
| 3.81 | % |
|
| Schedule of Changes in Fair Value of Convertible Note Option Liability and Earn-out Share Liability |
| | |
Six months
ended
June 30,
2025 | |
| Balance, beginning of period | |
$ | 60,000 | |
| Change in fair value | |
| (59,730 | ) |
| Balance, end of period | |
$ | 270 | |
The following table presents the changes
in fair value of the earn-out liability:
| | |
Six months
ended
June 30,
2025 | |
| Balance, beginning of period | |
$ | 15,560,000 | |
| Change in fair value | |
| (8,800,000 | ) |
| Balance, end of period | |
$ | 6,760,000 | |
|