XML 81 R70.htm IDEA: XBRL DOCUMENT v3.25.2
Convertible Notes Payable (Details Narrative) - USD ($)
 1 Months Ended 3 Months Ended 6 Months Ended
Jun. 02, 2025
May 01, 2025
Apr. 15, 2025
Apr. 09, 2025
Feb. 28, 2025
Dec. 31, 2024
Nov. 30, 2024
Sep. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Proceeds received from convertible notes payable         $ 15,000,000     $ 8,000,000     $ 14,432,879
Convertible promissory note         $ 16,500,000     $ 9,600,000        
Warrant exercise price       $ 7.52 $ 15.00   $ 9.20 $ 6.50        
Exercisable of warrants duration         5 years   5 years 5 years        
Securities purchase agreement commitment fee expense         $ 525,000     $ 280,000        
Convertible notes payable monthly installment amount               $ 533,334        
Convertible notes payable term, description               At the Company’s option, monthly payments could have been increased up to $1,000,000 so long as the Company’s market capitalization was at least $50 million. In addition, if the Repayment Share Price (as defined below) was equal to or greater than $2.00, Lind could have at its option, increased the monthly payment amount up to $1,300,000 for up to two months. The monthly payments due under the September 2024 Note could have been made by the issuance of common stock valued at the Repayment Share Price, cash in an amount equal to 1.025 times the required payment amount, or a combination thereof. The Repayment Share Price was defined in the September 2024 Note as ninety percent of the average of the five consecutive lowest daily VWAPs for our common stock during the twenty trading days prior to the payment date, subject to a floor price of $0.75 per share. The fair value of the convertible note and related warrants were estimated using a Monte Carlo simulation model. No value was assigned to the warrant liability due to the fair market value of the convertible note payable being in excess of the proceeds received.        
Convertible notes payable           $ 9,600,000            
Conversion of common shares           1,476,923            
Conversion price per share           $ 6.50            
Debt Instrument, Description       (i) in the event of new issuances of the Company’s common stock at a price less than the Conversion Price then in effect, the Conversion Price will be adjusted to the price paid for the newly issued shares of common stock (the “Price Reset Provision”); (ii) in the event the Company issues new securities in exchange for gross proceeds of greater than $15 million, the Company is required to pay the lower of 20% of the proceeds of such offering, or 20% of the balance of the February 2025 Note, toward repayment of the February 2025 Note (the “Offering Proceeds Provision”); and (iii) in the event the Company undertakes a new offering of securities, Lind has the right to purchase up to 20% of the securities issued in the new offering (the “Participation Rights”).                
Maturity date                     May 10, 2026  
Extinguishment debt                 $ (4,623,335) $ (4,623,335)
Convertible notes payable               19,434,004   $ 19,434,004  
Securities Purchase Agreement [Member]                        
Warrant exercise price       $ 7.62                
Conversion price per share       $ 9.52                
Proceeds from Issuance of Common Stock       $ 15,000,000                
Conversion amount       $ 18,150,000                
Maturity date       May 10, 2026                
Extinguishment debt                 $ 4,623,335      
February 2025 Note [Member]                        
Debt Instrument, Description       (i) the balance of the February 2025 Note was due and payable on February 10, 2026; (ii) the amount due under the February 2025 Note was convertible by Lind from time to time at a price equal to the lower of “Conversion Price” of $16.15 per share, or the “Repayment Share Price,” which is defined as ninety percent (90%) of the average of the five (5) lowest daily VWAPs for the Company’s common stock during the twenty (20) trading days prior to the conversion date, subject to a floor price; (iii) conversions under the February 2025 Note are limited to a maximum of $1,650,000 in any calendar month, subject to increase upon our optional written consent; and (iv) upon receipt of a conversion notice under the February 2025 Note, the Company could, if the applicable Repayment Share Price is below the Conversion Price, elect to pay the conversion amount, plus a 2.5% premium, in cash and in lieu of issuing common stock.                
February 2025 Note [Member] | Securities Purchase Agreement [Member]                        
Conversion price per share $ 4.97 $ 4.43                    
Redemption of notes payable     $ 1,650,000                  
Cash payment     $ 1,691,250                  
First Amendment [Member]                        
Proceeds received from convertible notes payable             $ 6,000,000          
Convertible promissory note             7,200,000          
Securities purchase agreement commitment fee expense             210,000          
Convertible notes payable monthly installment amount             $ 400,000          
Convertible notes payable term, description             At our option, monthly payments could have been increased up to $750,000 so long as our market capitalization was at least $50 million. In addition, if the Repayment Share Price was equal to or greater than $2.00, Lind could have at its option, increased the monthly payment amount up to $975,000 for up to two months. The monthly payments due under the November 2024 Note could have been made by the issuance of common stock valued at the Repayment Share Price, cash in an amount equal to 1.025 times the required payment amount, or a combination thereof. The Repayment Share Price was defined in the November 2024 Note as ninety percent of the average of the five consecutive lowest daily VWAPs for our common stock during the twenty trading days prior to the payment date, subject to a floor price of $0.75 per share. The fair value of the convertible note and related warrants were estimated using a Monte Carlo simulation model. No value was assigned to the warrant liability due to the fair market value of the convertible note payable being in excess of the proceeds received.          
Convertible notes payable           $ 7,200,000            
Conversion of common shares           782,607            
Conversion price per share           $ 9.20            
Warrant [Member]                        
Common stock purchase warrant         1,000,000     750,000        
Warrant exercise price         $ 15.00     $ 6.50        
Exercisable of warrants duration         5 years     5 years        
Warrant [Member] | First Amendment [Member]                        
Common stock purchase warrant             326,000          
Warrant exercise price             $ 9.20          
Exercisable of warrants duration             5 years          
Common Stock [Member] | February 2025 Note [Member]                        
Conversion of notes payable $ 1,650,000 $ 1,650,000                    
Conversion of notes payable, shares 331,991 372,460