v3.26.1
Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2026
Fair Value Measurements [Abstract]  
Schedule of Company’s Liabilities that are Measured at Fair Value

The following table presents information about the Company’s liabilities that are measured at fair value as of March 31, 2026 and December 31, 2025 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:

 

      March 31,   December 31, 
Description:  Level  2026   2025 
Derivative Liabilities:           
Forward purchase agreement  3  $1,214,100   $1,388,700 
Warrants – Series A  3  $2,997,150   $3,383,900 
Schedule of Fair Value Measurement of the FPA

The fair value measurement of the FPA at March 31, 2026 and December 31, 2025 was calculated using the following range of weighted average assumptions: 

 

   March 31,   December 31, 
   2026   2025 
Risk-free interest rate  $3.69%   3.48%
Stock price  $6.31   $7.09 
Expected life   0.8 years    1.1 years 
Expected volatility of underlying stock   167.5%   175.0%
Dividends   0%   0%
Schedule of Determine the Fair Value

The Company utilized a Monte Carlo simulation analysis to determine the fair value of the Series A Warrants at March 31, 2026, which included the following assumptions:

 

   Series A Warrants 
Expected term   3.7 years 
Stock price  $6.31 
Risk free rate   3.8%
Expected volatility   170.0%
Expected dividend rate  $0.00 
Exercise Price  $3.10 
Schedule of Recurring Basis Using Significant Unobservable Inputs (Level 3)

The table below provides a summary of the changes in fair value, including net transfers in and/or out, of all financial assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the three months ended March 31, 2026.

 

   Fair Value 
   Measurement 
   Using Level 3 
Forward Purchase Agreement  Inputs Total 
Balance, December 31, 2025  $1,388,700 
Change in fair value   (174,600)
Balance, March 31, 2026   1,214,100 

 

   Fair Value 
   Measurement 
   Using Level 3 
Warrants – Series A  Inputs Total 
Balance, December 31, 2025  $3,383,900 
Change in fair value   (386,750)
Balance, March 31, 2026   2,997,150