v3.26.1
Fair Value of Financial Instruments (Tables)
6 Months Ended
Jun. 30, 2026
Fair Value of Financial Instruments [Abstract]  
Schedule of Fair Value of the Derivative Liability

The fair value of the derivative liability was determined using the Black-Scholes model. The model incorporates the following key inputs and assumptions:

 

    At
June 30,
2026
    At
December 31,
2025
 
Maturity date   October 1,
2030
    October 1,
2030
 
Debt price     95.70       89.65  
Volatility rate     81 %     55 %
Share price   $ 1.80     $ 1.89  
Dividend yield     0 %     0 %
Stock borrow cost     1 %     1 %
Credit Spread     10.00 %     10.00 %
Schedule of Roll Forward of the Aggregate Fair Values of the Derivative Liability

The following table provides a roll forward of the aggregate fair values of the derivative liability for the six months ended June 30, 2026:

 

    Embedded Derivative  
Balance as of January 1, 2026   $ 19,260  
Change in fair value     4,715  
Balance as of June 30, 2026   $ 23,975