XML 36 R26.htm IDEA: XBRL DOCUMENT
v3.24.3

Fair Value of Financial Assets and Liabilities (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2024
Fair Value Disclosures [Abstract] |
Schedule of Fair Value of Assets and Liabilities Valued on Recurring Basis | The following tables present the Company’s assets and liabilities that are measured at fair value on a recurring basis and the Company’s estimated level within the fair value hierarchy of those assets and liabilities as of September 30, 2024 and December 31, 2023: Schedule of Fair Value of Assets and Liabilities Valued on Recurring Basis
|  | Fair Value Measured at September 30, 2024 |  |  |  |
|  | Total at September 30, |  |  | Quoted prices in active markets |  |  | Significant other observable inputs |  |  | Significant unobservable inputs |
|  | 2024 |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Crypto Assets |  | $ | 25,747,522 |  |  | $ | 25,747,522 |  |  | $ | - |  |  | $ | - |
Investments |  |  | 100,000 |  |  |  | - |  |  |  | - |  |  |  | 100,000 |
Total Assets |  | $ | 25,847,522 |  |  | $ | 25,747,522 |  |  | $ | - |  |  | $ | 100,000 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Warrant Liabilities |  | $ | 17,813 |  |  | $ | - |  |  | $ | - |  |  | $ | 17,813 |
|  | Fair Value Measured at December 31, 2023 |  |  |  |
|  | Total at December 31, |  |  | Quoted prices in active markets |  |  | Significant other observable inputs |  |  | Significant unobservable inputs |
|  | 2023 |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Crypto Assets |  | $ | 25,202,929 |  |  | $ | 25,202,929 |  |  | $ | - |  |  | $ | - |
Investments |  |  | 100,000 |  |  |  | - |  |  |  | - |  |  |  | 100,000 |
Total Assets |  | $ | 25,302,929 |  |  | $ | 25,202,929 |  |  | $ | - |  |  | $ | 100,000 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Warrant Liabilities |  | $ | 213,750 |  |  | $ | - |  |  | $ | - |  |  | $ | 213,750 |
Summary of Valuation Methodology and Significant Unobservable Inputs Warrant Liabilities | A summary of quantitative information with respect to the valuation methodology and significant unobservable inputs used for the Company’s warrant liabilities that are categorized within Level 3 of the fair value hierarchy at the date of issuance and, as of September 30, 2024 and December 31, 2023, is as follows: Summary of Valuation Methodology and Significant Unobservable Inputs Warrant Liabilities
|  | September 30, 2024 |  |  | December 31, 2023 |
Risk-free rate of interest |  |  | 3.98 | % |  |  | 4.23 | %
Expected volatility |  |  | 91.05 | % |  |  | 108.19 | %
Expected life (in years) |  |  | 1.42 |  |  |  | 2.18 |
Expected dividend yield |  |  | - |  |  |  | - |
Schedule of Changes in Fair Value and Other Adjustments of Warrants | The following table sets forth a summary of the changes in the fair value of the Company’s Level 3 financial assets and liabilities for the nine months ended September 30, 2024 and 2023, that are measured at fair value on a recurring basis: Schedule of Changes in Fair Value and Other Adjustments of Warrants
|  | Fair Value of Level 3 Financial Assets |
|  | September 30, |  |  | September 30, |
|  | 2024 |  |  | 2023 |
Beginning balance |  | $ | 100,000 |  |  |  | 100,000 |
Purchases |  |  | - |  |  |  | - |
Unrealized appreciation (depreciation) |  |  | - |  |  |  | - |
Ending balance |  | $ | 100,000 |  |  | $ | 100,000 |
|  | Fair Value of Level 3 Financial Liabilities |
|  | September 30, |  |  | September 30, |
|  | 2024 |  |  | 2023 |
Beginning balance |  | $ | 213,750 |  |  | $ | 213,750 |
Fair value adjustment of warrant liabilities |  |  | (195,937 | ) |  |  | (142,500 | )
Ending balance |  | $ | 17,813 |  |  | $ | 71,250 |

X
- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique used to measure similar asset in prior period by class of asset or liability on non-recurring basis. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisValuationTechniquesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of financial instrument classified as a derivative asset (liability) after deduction of derivative liability (asset) using recurring unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration