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TERM LOAN (Tables)

6 Months Ended

Jun. 30, 2024

Class of Warrant or Right [Line Items]

SCHEDULE OF FAIR VALUE OF NON-TRANSFERABLE WARRANTS

 SCHEDULE OF FAIR VALUE OF WARRANTS

		June 14, 2024				June 21, 2024
Expected dividend yield			0	%			0	%
Stock price		$	0.81			$	0.84
Expected share price volatility			83.17	%			83.71	%
Risk free interest rate			3.23	%			3.30	%
Expected life of warrant			5 years				5 years

SCHEDULE OF CONTINUITY OF TERM LOAN

The following is a continuity of the Term Loan:

SCHEDULE OF CONTINUITY OF TERM LOAN 

		$
Principal amount of the Term Loan			15,000,000
Fair value of the attached warrants			(1,435,350	)
Term Loan at fair value on issuance, June 28, 2023			13,564,650
Transaction costs			(787,175	)
Accretion of warrant value and transaction costs			631,540
Fair value of Term Loan as of December 14, 2023			13,409,015
Additional principal amount of Term Loan on Dec 14, 2023			5,882,353
Term Loan issue discount			(882,353	)
Fair value of the attached warrants			(275,961	)
Transaction fee for modification			(219,212	)
Fair value of modified Term Loan as of December 14, 2023			17,913,842
Accretion of warrant value and transaction costs			42,581
Term Loan balance, December 31, 2023			17,956,423
Accrued interest			1,038,412
Accretion of warrant value and transaction costs			492,044
Interest paid			(1,038,412	)
Term Loan balance, June 30, 2024			18,448,467

Non Transferable Warrants [Member]

Class of Warrant or Right [Line Items]

SCHEDULE OF FAIR VALUE OF NON-TRANSFERABLE WARRANTS

The fair value of the Non-Transferable Warrants was calculated using the following assumptions:

SCHEDULE OF FAIR VALUE OF NON-TRANSFERABLE WARRANTS 

		June 28, 2023				December 14, 2023
Expected dividend yield			0	%			0	%
Stock price		$	1.35			$	1.14
Expected share price volatility			92.06	%			63.54	%
Risk free interest rate			4.13	%			3.73	%
Expected life of warrant			3 years				2.54 years

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Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

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Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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