| Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis |
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June 30, 2025 |
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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 |
$ |
1,535,022 |
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$ |
— |
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$ |
— |
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$ |
1,535,022 |
Subtotal |
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1,535,022 |
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— |
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— |
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1,535,022 |
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Liabilities: |
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Contingent value rights |
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— |
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— |
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(286,630) |
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(286,630) |
Subtotal |
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— |
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— |
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(286,630) |
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(286,630) |
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Total |
$ |
1,535,022 |
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$ |
— |
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$ |
(286,630) |
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$ |
1,248,392 |
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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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Current 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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(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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| Schedule of Reconciliations of Recurring Fair Value Measurements |
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Three Months Ended June 30, 2025 |
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Contingent value rights |
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Warrant liability |
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Contingent forward contract |
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Total |
March 31, 2025 |
$ |
(292,901) |
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$ |
— |
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$ |
(5,406,033) |
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$ |
(5,698,934) |
Additions |
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— |
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(9,399,054) |
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— |
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(9,399,054) |
Warrant exercise |
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— |
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16,662,707 |
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— |
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16,662,707 |
Fair value adjustments |
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6,271 |
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(7,531,044) |
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789,588 |
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(6,735,185) |
Settlement |
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— |
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267,391 |
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4,616,445 |
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4,883,836 |
June 30, 2025 |
$ |
(286,630) |
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$ |
— |
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$ |
— |
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$ |
(286,630) |
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Three Months Ended June 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 |
March 31, 2024 |
$ |
(1,314,987) |
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$ |
(6,863,627) |
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$ |
— |
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$ |
(3,150,000) |
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$ |
(11,328,614) |
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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116,775 |
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(3,267,571) |
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(1,055,600) |
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450,000 |
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(3,756,396) |
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) |
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Six Months Ended June 30, 2025 |
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Contingent value rights |
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Warrant liability |
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Embedded derivative liability |
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Contingent forward contract |
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Total |
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) |
Additions |
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— |
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(9,399,054) |
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— |
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(5,515,525) |
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(14,914,579) |
Extinguishment of debt |
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— |
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— |
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82,281 |
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— |
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82,281 |
Warrant exercise |
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— |
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16,662,707 |
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— |
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— |
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16,662,707 |
Fair value adjustments |
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25,450 |
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(7,531,044) |
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— |
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899,080 |
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(6,606,514) |
Settlement |
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— |
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267,391 |
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— |
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4,616,445 |
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4,883,836 |
June 30, 2025 |
$ |
(286,630) |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
(286,630) |
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Six Months Ended June 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) |
Warrant exercise |
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— |
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324,789 |
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— |
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324,789 |
Fair value adjustments |
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492,860 |
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461,022 |
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(1,055,600) |
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800,000 |
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698,282 |
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) |
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