v3.26.1
Fair Value (Tables)
3 Months Ended
Mar. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Changes in Fair Value of Liabilities Measured at Fair Value on a Recurring Basis

The following table provides a summary of the changes in fair value, including net transfers in and/or out, of all Level 3 liabilities measured at fair value on a recurring basis using unobservable inputs during the three months ended March 31, 2025 and 2024:

 

   Warrant   Accrued   Derivative     
   Liabilities   Compensation   Liabilities   Total 
                 
Balance - January 1, 2025  $216,085   $37,348   $581,503   $834,936 
                     
Issuance of warrants and conversion option   7,760    -    141,397    144,723 
Change in fair value   (2,935)   (34)   (27,675)   (28,889)
                     
Balance - March 31, 2025  $220,910   $37,314   $695,225   $950,770 

 

   Warrant   Accrued   Derivative     
   Liabilities   Compensation   Liabilities   Total 
                 
Balance - January 1, 2024  $356,510   $97,102   $33,000   $486,612 
                     
Accrual of warrant obligation   6,666    -    -    6,666 
Issuance of warrants and conversion option   11,377    -    5,100    16,477 
Common stock issued in satisfaction of accrued compensation   -    (45,000)   -    (45,000)
Change in fair value   (85,693)   (766)   (5,800)   (92,259)
                     
Balance - March 31, 2024  $288,860   $51,336   $32,300   $372,496 
Schedule of Assumptions Used for Valuation of Level 3 Liabilities

In applying the Black-Scholes option pricing model utilized in the valuation of Level 3 liabilities, the Company used the following approximate assumptions:

 

   For the Three Months Ended 
   March 31, 
   2025   2024 
         
Risk-free interest rate   3.89% - 4.35%   3.84% - 4.35%
Expected term (years)   2.62 - 10.00    3.58 - 5.00 
Expected volatility   70%   65%
Expected dividends   0.00%   0.00%