| Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis |
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September 30, 2024 |
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Level 1 |
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Level 2 |
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Level 3 |
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Total Fair Value |
Cash equivalents: |
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Money market funds |
$ |
1,240,882 |
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$ |
— |
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$ |
— |
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$ |
1,240,882 |
Subtotal |
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1,240,882 |
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— |
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— |
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1,240,882 |
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Liabilities: |
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Contingent value rights |
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— |
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— |
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(1,212,263) |
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(1,212,263) |
Embedded derivative liability |
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— |
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— |
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(484,993) |
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(484,993) |
Earnout consideration |
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— |
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— |
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(2,700,000) |
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(2,700,000) |
Subtotal |
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— |
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— |
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(4,397,256) |
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(4,397,256) |
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Total |
$ |
1,240,882 |
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$ |
— |
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$ |
(4,397,256) |
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$ |
(3,156,374) |
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December 31, 2023 |
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Level 1 |
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Level 2 |
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Level 3 |
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Total Fair Value |
Cash equivalents: |
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Money market funds |
$ |
1,799,357 |
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$ |
— |
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$ |
— |
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$ |
1,799,357 |
Subtotal |
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1,799,357 |
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— |
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— |
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1,799,357 |
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Current Liabilities: |
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Contingent value rights |
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— |
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— |
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(1,691,072) |
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(1,691,072) |
Earnout consideration |
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— |
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— |
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(3,500,000) |
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(3,500,000) |
Subtotal |
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— |
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— |
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(5,191,072) |
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(5,191,072) |
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Total |
$ |
1,799,357 |
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$ |
— |
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$ |
(5,191,072) |
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$ |
(3,391,715) |
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| Schedule of Reconciliations of Recurring Fair Value Measurements |
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Three Months Ended September 30, 2024 |
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Contingent value rights |
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Warrant liability |
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Embedded derivative liability |
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Earnout consideration |
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Total |
June 30, 2024 |
$ |
(1,198,212) |
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$ |
(9,806,409) |
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$ |
(1,055,600) |
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$ |
(2,700,000) |
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$ |
(14,760,221) |
Additions |
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— |
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— |
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(16,664) |
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— |
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(16,664) |
Fair value adjustments |
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(14,051) |
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(1,435,845) |
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587,271 |
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— |
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(862,625) |
Reclassification to equity |
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— |
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11,242,254 |
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— |
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— |
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11,242,254 |
September 30, 2024 |
$ |
(1,212,263) |
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$ |
— |
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$ |
(484,993) |
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$ |
(2,700,000) |
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$ |
(4,397,256) |
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Three Months Ended September 30, 2023 |
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Contingent value rights |
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Earnout consideration |
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Total |
June 30, 2023 |
$ |
(6,010,520) |
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$ |
(3,080,000) |
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$ |
(9,090,520) |
Distribution |
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3,036,677 |
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— |
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3,036,677 |
Fair value adjustments |
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(239,922) |
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(230,000) |
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(469,922) |
September 30, 2023 |
$ |
(3,213,765) |
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$ |
(3,310,000) |
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$ |
(6,523,765) |
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Nine Months Ended September 30, 2024 |
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Contingent value rights |
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Warrant liability |
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Embedded derivative liability |
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Earnout consideration |
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Total |
December 31, 2023 |
$ |
(1,691,072) |
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$ |
— |
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$ |
— |
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$ |
(3,500,000) |
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$ |
(5,191,072) |
Reclassification from equity |
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— |
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(10,592,220) |
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— |
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— |
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(10,592,220) |
Additions |
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— |
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— |
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(16,664) |
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— |
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(16,664) |
Warrant exercise |
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— |
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324,789 |
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— |
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— |
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324,789 |
Fair value adjustments |
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478,809 |
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(974,823) |
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(468,329) |
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800,000 |
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(164,343) |
Reclassification to equity |
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— |
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11,242,254 |
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— |
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— |
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11,242,254 |
September 30, 2024 |
$ |
(1,212,263) |
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$ |
— |
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$ |
(484,993) |
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$ |
(2,700,000) |
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$ |
(4,397,256) |
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Nine Months Ended September 30, 2023 |
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Contingent value rights |
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Earnout consideration |
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Total |
December 31, 2022 |
$ |
(7,402,715) |
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$ |
(2,150,000) |
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$ |
(9,552,715) |
Distribution |
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3,036,677 |
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— |
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3,036,677 |
Fair value adjustments |
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1,152,273 |
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(1,160,000) |
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(7,727) |
September 30, 2023 |
$ |
(3,213,765) |
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$ |
(3,310,000) |
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$ |
(6,523,765) |
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