Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2026

Fair Value of Financial Instruments [Abstract]

Assets and Liabilities Measured and Recorded at Fair Value on Recurring Basis

Level 3 assets and liabilities measured and recorded at fair value on a recurring basis at June 30, 2026 and December 31, 2025 were as follows:


		June 30, 2026		December 31, 2025
Derivative Liability – Contingent Interest April Note	$	2,669,000	$	1,680,000
Derivative Liability – Contingent Interest September Note	$	1,339,000	$	924,000
Derivative Liability – Contingent Interest December Note	$	2,127,000	$	1,358,000

April Note [Member]

Fair Value of Financial Instruments [Abstract]

Key Assumptions Used in Model at Inception

The April Note derivative liability – contingent interest was valued using a Monte Carlo Geometric Brownian Stock Path Model. The key assumptions used in the model at June 30, 2026 and December 31, 2025 are as follows:


		June 30, 2026			December 31, 2025
Stock Price	$	4.64		$	4.16
Conversion Price of conversion feature	$	5.00		$	5.00
Term		1.0 year			1.5 years
Risk Free Interest Rate		3.98	%		3.48	%
Credit Adjusted Discount Rate		13.44	%		12.03	%
Volatility		92.5	%		113	%
Dividend Rate		0	%		0	%

Roll Forward of Derivative Liability - Contingent Interest

The roll forward of the April Note derivative liability – contingent interest is as follows for the six months ended June 30, 2026 and 2025:


Balance – December 31, 2025	$	1,680,000
Fair Value Adjustment		989,000
Balance – June 30, 2026	$	2,669,000

Balance – December 31, 2024	$	47,000
Fair Value Adjustment		603,000
Balance – June 30, 2025	$	650,000

September Note [Member]

Fair Value of Financial Instruments [Abstract]

Key Assumptions Used in Model at Inception

The September Note derivative liability – contingent interest was valued using a Monte Carlo Geometric Brownian Stock Path Model. The key assumptions used in the model at June 30, 2026 and December 31, 2025 are as follows:


		June 30, 2026			December 31, 2025
Stock Price	$	4.64		$	4.16
Conversion Price of conversion feature	$	8.64		$	8.64
Term		1.0 year			1.5 years
Risk Free Interest Rate		3.98	%		3.48	%
Credit Adjusted Discount Rate		13.44	%		12.03	%
Volatility		92.5	%		113	%
Dividend Rate		0	%		0	%

Roll Forward of Derivative Liability - Contingent Interest

The roll forward of the September Note derivative liability – contingent interest is as follows:


Balance – December 31, 2025	$	924,000
Fair Value Adjustment		415,000
Balance – June 30, 2026	$	1,339,000

Balance – December 31, 2024	$	94,000
Fair Value Adjustment		204,000
Balance – June 30, 2025	$	298,000

December Note [Member]

Fair Value of Financial Instruments [Abstract]

Key Assumptions Used in Model at Inception

The December Note derivative liability – contingent interest was valued using a Monte Carlo Geometric Brownian Stock Path Model. The key assumptions used in the model at June 30, 2026 and December 31, 2025 are as follows:


		June 30, 2026			December 31, 2025
Stock Price	$	2.79		$	4.16
Conversion Price of conversion feature	$	5.43		$	5.43
Term		1.0 year			1.5 years
Risk Free Interest Rate		3.98	%		3.48	%
Credit Adjusted Discount Rate		13.44	%		12.03	%
Volatility		92.5	%		113	%
Dividend Rate		0	%		0	%

Roll Forward of Derivative Liability - Contingent Interest

The roll forward of the December Note derivative liability – contingent interest is as follows:


Balance – December 31, 2025	$	1,358,000
Fair Value Adjustment		769,000
Balance – June 30, 2026	$	2,127,000

Balance – December 31, 2024	$	275,000
Fair Value Adjustment		314,000
Balance – June 30, 2025	$	589,000