v3.26.1
Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2025
Fair Value Measurements [Abstract]  
Schedule of Fair Value of Financial Instruments Measured on a Recurring Basis

The following table presents the fair value of financial instruments measured on a recurring basis as of December 31, 2025 and 2024:

 

   Fair Value Measurements as of December 31, 2025 
Description  Level 1   Level 2   Level 3   Total 
Derivative liabilities  $
   $
   $
   $
 
Warrant liabilities   
    
    8,424,500    8,424,500 
Total recurring fair value measurements   
    
   $8,424,500   $8,424,500 

 

   Fair Value Measurements as of December 31, 2024 
Description  Level 1   Level 2   Level 3   Total 
Derivative liabilities  $
   $
   $185,000   $185,000 
Warrant liabilities   
    
    85,779,788    85,779,788 
Total recurring fair value measurements   
    
   $85,964,788   $85,964,788 
Schedule of Rollforward of Changes for Financial Instruments Measured at Fair Value on a Recurring Basis

The following table presents a rollforward of changes for financial instruments measured at fair value on a recurring basis for the years ended December 31, 2025 and 2024:

 

Derivative Liabilities

  Amount 
Balance as of December 31, 2023  $1,389,203 
Initial fair value of derivative liabilities upon issuance (limited to proceeds)   1,699,727 
Gain on change in fair value of derivative liabilities   (1,401,373)
Extinguishment of derivative liabilities upon conversion   (1,502,557)
Balance as of December 31, 2024  $185,000 
Gain on change in fair value of derivative liabilities   (185,000)
Balance as of December 31, 2025  $
 

 

Warrant Liabilities  Amount 
Balance as of December 31, 2023  $
 
Fair value of warrant liabilities upon issuance (limited to proceeds)   24,667,526 
Loss on change in fair value of warrant liabilities   77,638,662 
Extinguishment of warrant liabilities upon exercise   (16,526,400)
Balance as of December 31, 2024  $85,779,788 
Gain on change in fair value of warrant liabilities   (76,904,488)
Extinguishment of warrant liabilities upon exercise   (254,700)
Extinguishment of warrant liabilities upon issuance of series F preferred shares   (196,100)
Balance as of December 31, 2025  $8,424,500