Quarterly report [Sections 13 or 15(d)]

Fair Value Measurements (Tables)

v3.26.1
Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Hierarchy
Fair Value as of March 31, 2026 Fair Value as of December 31, 2025
Carrying Value Level 1 Level 2 Level 3 Carrying Value Level 1 Level 2 Level 3
Financial liabilities:
November 2024 Debentures $ 1,298,728  $ -  $ -  $ 1,298,728  $ 163,672  $ -  $ -  $ 163,672 
Derivative liability $ 515,827  $ -  $ -  $ 515,827  $ -  $ -  $ -  $ - 
Public Warrants $ 1,769  $ 1,769  $ -  $ -  $ 1,612  $ 1,612  $ -  $ - 
Private Warrants $ 647  $ -  $ -  $ 647  $ 589  $ -  $ -  $ 589 
 SPA Warrants $ 5,846  $ -  $ -  $ 5,846  $ 9,080  $ -  $ -  $ 9,080 
Total warrant liability $ 8,262  $ 1,769  $ -  $ 6,493  $ 11,281  $ 1,612  $ -  $ 9,669 
Non-recurring fair value instruments:
Series C Preferred Stock at March 27, 2026 $ 3,659,502  $ -  $ -  $ 3,659,502 
Schedule of Changes in Fair Value
The following table sets forth a summary of the changes in fair value of the Company’s financial liabilities categorized within Level 3:
November 2024 Debentures Warrant
Liability
Derivative Liability
Balance, December 31, 2024 $ 2,583,832  $ 172,833  $ - 
Change in fair value of November 2024 Debentures 723,926  -  - 
Change in fair value of warrant liabilities -  (62,151) - 
Balance March 31, 2025 $ 3,307,758  $ 110,682  $ - 
Balance, December 31, 2025 $ 163,672  $ 9,669  $ - 
Issuance of November 2024 Debentures 2,960,000  -  - 
Fair value conversion of November 2024 Debentures to Common Stock (283,790) -  - 
Exchange of November 2024 Debentures to Series C Preferred Stock (2,729,994) -  - 
Change in fair value of November 2024 Debentures 1,188,840  -  - 
Change in fair value of warrant liabilities -  (3,176) - 
Change in fair value of derivative liability -  -  515,827 
Balance, March 31, 2026 $ 1,298,728  $ 6,493  $ 515,827