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TERM LOAN (Tables)

9 Months Ended

Sep. 30, 2024

Class of Warrant or Right [Line Items]

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 Non-Transferrable Warrants			(1,435,350	)
Term Loan at fair value on issuance, June 28, 2023			13,564,650
Transaction costs			(787,175	)
Accrued interest			390,411
Accretion of warrant value and transaction costs			631,540
Interest paid			(390,411	)
Fair value of Term Loan as of December 14, 2023			13,409,015
Additional principal amount of Term Loan on December 14, 2023			5,882,353
Term Loan issue discount			(882,353	)
Fair value of the Additional Warrants			(275,961	)
Transaction fee for modification			(219,212	)
Fair value of modified Term Loan as of December 14, 2023			17,913,842
Accrued interest			402,981
Accretion of warrant value and transaction costs			42,581
Interest paid			(402,981	)
Term Loan balance, December 31, 2023			17,956,423
Accrued interest			1,563,324
Accretion of warrant value and transaction costs			753,854
Interest paid			(1,563,324	)
Term Loan balance, September 30, 2024			18,710,277

Non Transferable Warrants and Additional Warrants [Member]

Class of Warrant or Right [Line Items]

SCHEDULE OF FAIR VALUE OF NON-TRANSFERABLE AND ADDITIONAL WARRANTS

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

SCHEDULE OF FAIR VALUE OF NON-TRANSFERABLE AND ADDITIONAL WARRANTS

		Non-Transferable Warrants				Additional Warrants
Expected dividend yield			0	%			0	%
Share 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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