| Schedule of financial instruments measured at fair value on a recurring basis |
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Balance |
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Level 1 |
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Level 2 |
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Level 3 |
December 31, 2024 |
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Cash and cash equivalents |
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$ |
23,288,607 |
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$ |
23,288,607 |
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$ |
— |
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$ |
— |
Total assets |
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$ |
23,288,607 |
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$ |
23,288,607 |
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$ |
— |
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$ |
— |
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Warrant liability |
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$ |
1,718,000 |
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$ |
— |
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$ |
— |
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$ |
1,718,000 |
Total liabilities |
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$ |
1,718,000 |
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$ |
— |
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$ |
— |
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$ |
1,718,000 |
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December 31, 2023 |
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Cash and cash equivalents |
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$ |
9,564,988 |
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$ |
9,564,988 |
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$ |
— |
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$ |
— |
Total assets |
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$ |
9,564,988 |
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$ |
9,564,988 |
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$ |
— |
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$ |
— |
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Warrant liability |
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$ |
16,120,898 |
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$ |
— |
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$ |
2,989,207 |
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$ |
13,131,691 |
Total liabilities |
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$ |
16,120,898 |
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$ |
— |
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$ |
2,989,207 |
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$ |
13,131,691 |
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| Schedule of changes in the fair market value of the warrants |
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Level 3 |
Fair value of Level 3 liabilities as of December 31, 2023 |
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$ |
13,131,691 |
Change in warrant fair value |
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(14,778,015) |
Issuance of July 2024 Inducement Warrants |
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12,000,000 |
Settlement of 2023 Tranche A Warrants to equity |
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(4,800,000) |
Settlement of 2023 Tranche B Warrants to equity |
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(2,610,000) |
Exercise of October 2022 Warrants |
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(1,225,676) |
December 31, 2024, fair value of Level 3 liabilities |
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$ |
1,718,000 |
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