| 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:
Schedule of Changes in Fair Value of Liabilities Measured at Fair Value on a Recurring Basis
| | |
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:
Schedule of Assumptions Used for Valuation of Level 3 Liabilities
| | |
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 | % |
|