Summary of Significant Accounting Policies (Tables)
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12 Months Ended |
Dec. 31, 2024 |
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| Summary of Significant Accounting Policies |
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| Schedule of potentially dilutive shares |
| | | | | | | | | | | | | | Year Ended | | Year Ended | | | December 31, | | December 31, | | | 2024 | | 2023 | | | | | | (Restated) | Net loss | | $ | (57,702,015) | | $ | (3,762,930) | Weighted average shares outstanding – basic and diluted | | | 10,213,036 | | | 9,998,446 | Net loss per share – basic and diluted | | $ | (5.65) | | $ | (0.38) | Excluded securities (1): | | | | | | | Public Warrants | | | 11,500,000 | | | — | Private Warrants | | | 557,000 | | | — | Bridge Warrants | | | 173,913 | | | — | Extension Warrants | | | 26,086 | | | — | September 2024 Warrants | | | 740,741 | | | — | Quantum Convertible Note, related party (2) | | | 1,862,466 | | | — | Exchange Note (2) | | | 827,330 | | | — | September 2024 Convertible Note (3) | | | 1,258,733 | | | — | Series A Preferred Stock (4) | | | 3,079,000 | | | — | Stock options, issued and outstanding | | | 803,646 | | | — | Common stock issuance obligation | | | 51,192 | | | — |
| 1. | The Company’s dilutive shares have not been included in the computation of diluted net loss per share for the years ended December 31, 2024 and 2023, as the result would be anti-dilutive. |
| 2. | Includes the interest amount thereon and assumes the floor conversion price of $2.00. |
| 3. | Includes the principal and interest amount thereon and calculated based on the initial fixed conversion price of $2.00. |
| 4. | Assumes the maximum conversion thereon and at the floor conversion price of $2.00 |
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| Schedule of allowance for credit losses |
| | | | | | | | | December 31, | | December 31, | | | 2024 | | 2023 | Beginning allowance for credit losses | | $ | 32,457 | | $ | — | Allowance for credit losses, due to acquisition | | | 1,696,553 | | | — | Provision for credit losses | | | 514,282 | | | 32,457 | Less: Accounts receivable write-off included in allowance for credit losses above | | | 149,741 | | | — | Ending allowance for credit losses | | $ | 2,393,033 | | $ | 32,457 |
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| Schedule of Identifiable intangible assets subject to amortization |
| | | | | | | | | | | December 31, 2024 | | Estimated Useful Life | | Gross Carrying Amount | | Additions | | Accumulated Amortization | | Net Book Value | Customer relationships | 10 years | | $- | | $2,100,000 | | ($105,000) | | $1,995,000 | Developed technology | 5 years | | — | | 10,000,000 | | (1,000,000) | | 9,000,000 | | | | $- | | $12,100,000 | | ($1,105,000) | | $10,995,000 |
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| Schedule of expected amortization expense |
| | | | Year ending December 31, 2025 | | $ | 2,210,000 | Year ending December 31, 2026 | | | 2,210,000 | Year ending December 31, 2027 | | | 2,210,000 | Year ending December 31, 2028 | | | 2,210,000 | Year ending December 31, 2029 | | | 2,155,000 | Total | | $ | 10,995,000 |
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