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NOTES PAYABLE (Tables)
12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Notes Payable
Notes payable consisted of the following:
December 31, 2024December 31, 2023
Convertible Notes, net of unamortized discount of $17,330 and $0
$32,670 $— 
Aggregate carrying value$32,670 $— 
*The fair value of the derivatives embedded within the 7.0% Convertible Note ($30,253 at December 31, 2024 and $0 at December 31, 2023 respectively), is separately classified as a derivative liability in the consolidated balance sheets.
Schedule of Debt Interest Expense
A summary of non-cash interest expense associated with the amortization of the debt discount created by the embedded derivative liability associated with the Company’s convertible debt is as follows:
Year ended
December 31,
20242023
Convertible Notes$983 $— 
Interest expense associated with embedded derivatives$983 $— 
A summary of non-cash changes in fair value of derivatives embedded within convertible debt is as follows:
Year ended
December 31,
20242023
Convertible Notes$14,978 $— 
(Gain) Loss on changes in fair value of derivatives embedded within convertible debt$14,978 $— 
Schedule of Fair Value of Notes Payable
The estimated fair value of the Company’s notes payable is as follows:
 December 31, 2024December 31, 2023
Carrying
Value
Fair
Value
Carrying
Value
Fair
Value
Notes payable$32,670 $41,002 $— $— 
Notes payable and other obligations$32,670 $41,002 $— $—