| Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis |
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December 31, 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 |
$ |
368,138 |
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$ |
— |
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$ |
— |
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$ |
368,138 |
Subtotal |
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368,138 |
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— |
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— |
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368,138 |
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Liabilities: |
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Contingent value rights |
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— |
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— |
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(312,080) |
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(312,080) |
Embedded derivative liability |
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— |
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— |
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(82,281) |
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(82,281) |
Earnout consideration |
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— |
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(2,500,000) |
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— |
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(2,500,000) |
Subtotal |
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— |
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(2,500,000) |
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(394,361) |
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(2,894,361) |
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Total |
$ |
368,138 |
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$ |
(2,500,000) |
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$ |
(394,361) |
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$ |
(2,526,223) |
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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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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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Year Ended December 31, 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 |
Distribution |
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856,735 |
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— |
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— |
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— |
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856,735 |
Fair value adjustments |
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522,257 |
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(974,823) |
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(65,617) |
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1,000,000 |
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481,817 |
Reclassification to Level 2 |
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2,500,000 |
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2,500,000 |
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 |
December 31, 2024 |
$ |
(312,080) |
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$ |
— |
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$ |
(82,281) |
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$ |
— |
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$ |
(394,361) |
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Year Ended December 31, 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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2,674,966 |
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(1,350,000) |
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1,324,966 |
December 31, 2023 |
$ |
(1,691,072) |
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$ |
(3,500,000) |
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$ |
(5,191,072) |
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