| Schedule of Assets and Liabilities Subject to Fair Value Measurements |
Assets and liabilities subject to fair value measurements are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | As of June 30, 2026 | | Level 1 | | Level 2 | | Level 3 | | Total | | Assets | | | | | | | | | Cash and cash equivalents – Money market | $ | 1,212,856 | | | $ | — | | | $ | — | | | $ | 1,212,856 | | | | | | | | | | | | | | | | | | | Liabilities | | | | | | | | | Warrant liabilities – Public Warrants | $ | 230,000 | | | $ | — | | | $ | — | | | $ | 230,000 | | Warrant liabilities – Private placement warrants(1) | — | | | — | | | 285,000 | | | 285,000 | | Earn-out liabilities(2) | — | | | — | | | 21,000 | | | 21,000 | | | Total liabilities | $ | 230,000 | | | $ | — | | | $ | 306,000 | | | $ | 536,000 | |
| | | | | | | | | | | | | | | | | | | | | | | | | As of December 31, 2025 | | Level 1 | | Level 2 | | Level 3 | | Total | | Assets | | | | | | | | | Cash and cash equivalents – Money market | $ | 3,168,199 | | | $ | — | | | $ | — | | | $ | 3,168,199 | | | | | | | | | | | Liabilities | | | | | | | | | Warrant liabilities – Public Warrants | $ | 546,250 | | | $ | — | | | $ | — | | | $ | 546,250 | | Warrant liabilities – Private placement warrants(1) | — | | | — | | | 684,000 | | | 684,000 | | Earn-out liabilities(2) | — | | | — | | | 540,000 | | | 540,000 | | | Total liabilities | $ | 546,250 | | | $ | — | | | $ | 1,224,000 | | | $ | 1,770,250 | |
(1)Private placement warrants were estimated using a Black-Scholes option pricing model utilizing assumptions related to the contractual term of the instruments, estimated volatility of the price of the Class A Common Stock and current interest rates. (2)The fair value of the earn-out liabilities was estimated using the Monte Carlo simulation utilizing assumptions related to the contractual term of the instruments, estimated volatility of the price of the Class A Common Stock and current interest rates.
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| Schedule of Changes in Fair Value of the Public and Private Placements Warrants |
The following tables summarize the balances of and changes in Level 3 private placement warrants and earn-out liabilities measured at fair value on a recurring basis for the three and six months ended June 30, 2026 and 2025:
| | | | | | | | | | | | | Private Placement Warrants | | Earn-out Liabilities | | Balance at January 1, 2026 | $ | 684,000 | | | $ | 540,000 | | | Change in fair value during the period | (342,000) | | | (38,500) | | | Balance at March 31, 2026 | $ | 342,000 | | | $ | 501,500 | | | Change in fair value during the period | (57,000) | | | (480,500) | | | Balance at June 30, 2026 | $ | 285,000 | | | $ | 21,000 | | | | | | | Balance at January 1, 2025 | $ | 5,586,000 | | | $ | 620,000 | | | Change in fair value during the period | (4,104,000) | | | (450,000) | | | Balance at March 31, 2025 | $ | 1,482,000 | | | $ | 170,000 | | | Change in fair value during the period | — | | | 540,000 | | | Balance at June 30, 2025 | $ | 1,482,000 | | | $ | 710,000 | |
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