Related Party Transactions |
3 Months Ended |
|---|---|
Mar. 31, 2025 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions | Note 7 – Related Party Transactions
As of March 31, 2025 and December 31, 2024, the Company was required to issue warrants to purchase an aggregate of 2,331,500 and 2,256,500, respectively, shares of common stock at an exercise price of $0.75 per share to former directors of the Company in connection with loans made to the Company in the aggregate amount of $459,000 which required certain penalties be paid in the form of warrants. As a result, the Company accrued $131,792 and $129,113 associated with the fair value of the obligations as of March 31, 2025 and December 31, 2024, respectively, which amount is included in warrant liabilities – related parties on the condensed consolidated balance sheets. The obligations to issue warrants are subject to changes in fair value at each reporting period. See Note 4, Fair Value for additional details.
See Note 5, Notes Payable – Notes Payable – Related Parties for details related to convertible notes held by directors of the Company.
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