DERIVATIVE FINANCIAL INSTRUMENTS AND WARRANT LIABILITIES (Tables)
|
9 Months Ended |
Sep. 30, 2024 |
|---|
| Derivative Instruments and Hedging Activities Disclosure [Abstract] |
|
| Schedule of assumptions and methodologies |
| Schedule of assumptions and methodologies |
|
|
|
|
|
|
| |
|
May 24, 2023 |
|
|
August 3, 2023 |
|
| Conversion Feature Liabilities |
|
|
|
|
|
|
|
|
| Company stock price on valuation date |
|
$ |
126,000.00 |
|
|
$ |
99,180.00 |
|
| Volatility (closing prices of guideline comparable public companies) |
|
|
86.3% |
|
|
|
84.1% |
|
| Conversion price per share |
|
$ |
135,000.00 |
|
|
$ |
135,000.00 |
|
| Note term (years) |
|
|
0.76 |
|
|
|
0.56 |
|
| Risk free interest rate |
|
|
5.1% |
|
|
|
5.4% |
|
| |
|
|
|
|
|
|
|
|
| Warrant Liabilities |
|
|
|
|
|
|
|
|
| Company stock price on valuation date |
|
$ |
126,000.00 |
|
|
$ |
99,180.00 |
|
| Volatility (closing prices of guideline comparable public companies) |
|
|
119.2% |
|
|
|
115.0% |
|
| Conversion price per share |
|
$ |
135,000.00 |
|
|
$ |
135,000.00 |
|
| Warrant term (years) |
|
|
4.25 |
|
|
|
4.06 |
|
| Risk free interest rate |
|
|
3.8% |
|
|
|
4.3% |
|
|
| Schedule of derivative liabilities carried at fair value |
| Schedule of derivative liabilities carried at fair value |
|
|
|
|
|
|
| |
|
May 24, 2023 |
|
|
August 3, 2023 |
|
| Conversion Feature - New Notes |
|
$ |
663,096 |
|
|
$ |
557,168 |
|
| Conversion Feature - Series A Exchange Notes |
|
|
970,805 |
|
|
|
416,672 |
|
| Conversion Feature - Series B Exchange Notes |
|
|
4,324,792 |
|
|
|
2,651,436 |
|
| New Warrants |
|
|
3,123,682 |
|
|
|
2,445,244 |
|
| Exchange Warrants |
|
|
9,287,474 |
|
|
|
7,191,535 |
|
| Total |
|
$ |
18,369,849 |
|
|
$ |
13,262,055 |
|
|
| Schedule of assumptions |
| Schedule of assumptions |
|
|
|
| |
|
December 31, 2023 |
|
| |
|
|
|
| Company stock price on valuation date |
|
$ |
35.68 |
|
| Volatility |
|
|
141.4% |
|
| Risk free interest rate |
|
|
3.78% |
|
| Dividend yield |
|
|
0.00% |
|
| Warrant term (years) |
|
|
4.9 |
|
| Time to future transaction (years) |
|
|
0.63 |
|
| Future transaction probability |
|
|
75% |
|
|
| Schedule of estimated fair value of the Series A and Series B Warrant liabilities |
| Schedule of estimated fair
value of the Series A and Series B Warrant liabilities |
|
|
|
| |
|
December 31, 2023 |
|
| Series A Warrant |
|
$ |
0.2970 |
|
| Series B Warrant |
|
$ |
0.0799 |
|
|
| Schedule of derivative liability |
| Schedule of derivative liability |
|
|
|
|
|
|
|
|
|
| |
|
Series A |
|
|
Series B |
|
|
Total |
|
| Fair value on December 31, 2023 |
|
$ |
4,705,245 |
|
|
$ |
1,265,822 |
|
|
$ |
5,971,067 |
|
| Loss on changes in fair value |
|
|
12,664,653 |
|
|
|
2,174,673 |
|
|
|
14,839,326 |
|
| Exercise of warrants |
|
|
(17,352,653 |
) |
|
|
(34,833 |
) |
|
|
(17,387,486 |
) |
| Reclassification to equity |
|
|
– |
|
|
|
(3,405,662 |
) |
|
|
(3,405,662 |
) |
| Balance at September 30, 2024 |
|
$ |
17,245 |
|
|
$ |
– |
|
|
$ |
17,245 |
|
|