XML 41 R34.htm IDEA: XBRL DOCUMENT v3.25.1
Convertible Notes And Warrants (Tables)
3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
Summary of the convertible notes for the Respective Periods

A summary of the Company’s convertible notes for the respective periods presented is as follows:

The December 2024 Initial Investor Note

 

 

March 31, 2025

 

 

December 31, 2024

 

December 2024 Initial Investor Note

 

$

20,000,000

 

 

$

20,000,000

 

Convertible debt, gross

 

 

20,000,000

 

 

 

20,000,000

 

Less:

 

 

 

 

 

 

Debt discount, net of amortization

 

 

6,213,572

 

 

 

6,636,805

 

Debt issuance costs, net of amortization

 

 

1,507,602

 

 

 

1,610,291

 

Convertible debt, net

 

 

12,278,826

 

 

 

11,752,904

 

Less: Current portion of long-term debt

 

 

-

 

 

 

11,752,904

 

December 2024 convertible note, net - long-term

 

$

12,278,826

 

 

$

-

 

 

 

March 31, 2025

 

 

December 31, 2024

 

March 2025 Investor Note

 

$

46,279,500

 

 

$

-

 

Fair value adjustment

 

 

6,534,143

 

 

 

-

 

March 2025 investor note - related party

 

$

52,813,643

 

 

$

-