Fair Value Measurements (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Fair Value Disclosures [Abstract] |
|
| Schedule of Assets and Liabilities That are Measured at Fair Value On a Recurring Basis |
The
following table presents the Company’s fair value hierarchy assets and liabilities that are measured at fair value on a recurring
basis at June 30, 2026 and December 31, 2025 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine
such fair value.
Schedule
of Assets and Liabilities That are Measured at Fair Value On a Recurring Basis
| June 30, 2026 | |
Balance Sheet Classification | |
Quoted Prices in Active Markets | | |
Significant Other Observable Inputs | | |
Significant Other Unobservable Inputs | |
| | |
| |
(Level 1) | | |
(Level 2) | | |
(Level 3) | |
| Assets: | |
| |
| | | |
| | | |
| | |
| Money market funds | |
Cash and cash equivalents | |
$ | 11,652,779 | | |
$ | — | | |
$ | — | |
| | |
| |
| | | |
| | | |
| | |
| Liabilities: | |
| |
| | | |
| | | |
| | |
| Forward purchase agreement liability | |
| |
$ | — | | |
$ | — | | |
$ | 96,252 | |
| December 31, 2025 | |
Balance Sheet Classification | | |
Quoted Prices in Active Markets | | |
Significant Other Observable Inputs | | |
Significant Other Unobservable Inputs | |
| | |
| | | |
| (Level 1) | | |
| (Level 2) | | |
| (Level 3) | |
| Liabilities: | |
| | | |
| | | |
| | | |
| | |
| Convertible notes | |
| | | |
$ | — | | |
$ | — | | |
$ | 1,146,236 | |
| Forward purchase agreement liabilities | |
| | | |
$ | — | | |
$ | — | | |
$ | 95,662 | |
| Derivative liability | |
| | | |
$ | — | | |
$ | — | | |
$ | 40,954 | |
| Total liabilities | |
| | | |
$ | — | | |
$ | — | | |
$ | 1,282,852 | |
|
| Schedule of Convertible Notes |
The
significant inputs of the models used to value the Company’s February 2025 Convertible Debentures as of December 31, 2025 were:
Schedule
of Convertible Notes
| Inputs | |
December 31, 2025 | |
| Term Remaining - Years | |
| 0.13 | |
| Share Price | |
$ | 0.13 | |
| Debt Rate | |
| 12.49 | % |
|
| Schedule of Fair Value of the Convertible Notes |
The
change in the fair value of the February 2025 Convertible Notes measured using Level 3 inputs is summarized as follow:
Schedule
of Fair Value of the Convertible Notes
| | |
| | |
| Balance at, December 31, 2025 | |
$ | 1,146,236 | |
| Convertible notes, beginning balance | |
$ | 1,146,236 | |
| Paid in kind interest | |
| 9,008 | |
| Change in fair value | |
| (211,443 | ) |
| Repayment of Convertible notes | |
| (943,801 | ) |
| Balance at June 30, 2026 | |
$ | - | |
| Convertible notes, ending balance | |
$ | - | |
|
| Schedule of Models Used in Forward Purchase Agreements Liabilities |
The
significant inputs of the models used to value the forward purchase agreement liabilities as of June 30, 2026 and December 31, 2025 were:
Schedule
of Models Used in Forward Purchase Agreements Liabilities
| Inputs | |
June 30, 2026 | | |
December 31, 2025 | |
| Share Price | |
$ | 5.34 | | |
$ | 5.28 | |
| Risk Free Rate | |
| 3.87% - 4.18% | | |
| 3.48% - 3.59% | |
| Likelihood of a call | |
| 10% -20% | | |
| 10% -20% | |
|
| Schedule of Fair Value Forward Purchase Agreement Liabilities |
The
change in the fair value of the forward purchase agreement liabilities measured using Level 3 inputs is summarized as follows:
Schedule
of Fair Value Forward Purchase Agreement Liabilities
| | |
| | |
| Balance at December 31, 2025 | |
$ | 95,662 | |
| Change in fair value | |
| 590 | |
| Balance at March 31, 2026 | |
| 96,252 | |
| Balance | |
| 96,252 | |
| Change in fair value | |
| 275 | |
| Balance at June 30, 2026 | |
$ | 96,527 | |
| Balance | |
$ | 96,527 | |
|
| Summary of Change in Fair Value of Derivative Liability |
The
change in the fair value of the derivative liability measured using Level 3 inputs is summarized as follows:
Summary
of Change in Fair Value of Derivative Liability
| | |
| | |
| Balance at December 31, 2025 | |
$ | 40,954 | |
| Change in fair value | |
| (40,954 | ) |
| Balance at March 31, 2026 | |
| - | |
| Derivative
liability, beginning balance | |
| - | |
| Change in fair value | |
| - | |
| Balance at June 30, 2026 | |
$ | - | |
| Derivative
liability, ending balance | |
$ | - | |
|
| Schedule of Key Inputs of Models Used to Value Derivative Liability |
The
significant inputs of the models used to value the Company’s derivative liability as of December 31, 2025, were:
Schedule
of Key Inputs of Models Used to Value Derivative Liability
| Inputs | |
December 31, 2025 |
| Term Remaining - Years | |
0.14 - 0.39 |
| Share Price | |
$0.10- $0.42 |
| Risk Free Rate | |
3.52% - 3.92% |
|