v3.26.1
Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Hierarchy
Fair Value as of March 31, 2026Fair Value as of December 31, 2025
Carrying ValueLevel 1Level 2Level 3Carrying ValueLevel 1Level 2Level 3
Financial liabilities:
November 2024 Debentures$1,298,728 $$$1,298,728 $163,672 $$$163,672 
Derivative liability$515,827 $$$515,827 $$$$
Public Warrants$1,769 $1,769 $$$1,612 $1,612 $$
Private Warrants$647 $$$647 $589 $$$589 
 SPA Warrants$5,846 $$$5,846 $9,080 $$$9,080 
Total warrant liability$8,262 $1,769 $$6,493 $11,281 $1,612 $$9,669 
Non-recurring fair value instruments:
Series C Preferred Stock at March 27, 2026$3,659,502 $$$3,659,502 
Schedule of Changes in Fair Value
The following table sets forth a summary of the changes in fair value of the Company’s financial liabilities categorized within Level 3:
November 2024 DebenturesWarrant
Liability
Derivative Liability
Balance, December 31, 2024$2,583,832 $172,833 $
Change in fair value of November 2024 Debentures723,926 
Change in fair value of warrant liabilities(62,151)
Balance March 31, 2025$3,307,758 $110,682 $
Balance, December 31, 2025$163,672 $9,669 $
Issuance of November 2024 Debentures2,960,000 
Fair value conversion of November 2024 Debentures to Common Stock(283,790)
Exchange of November 2024 Debentures to Series C Preferred Stock(2,729,994)
Change in fair value of November 2024 Debentures1,188,840 
Change in fair value of warrant liabilities(3,176)
Change in fair value of derivative liability515,827 
Balance, March 31, 2026$1,298,728 $6,493 $515,827