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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Summary of Company's Assets and Liabilities Measured at Fair Value on a Recurring Basis

In accordance with the fair value hierarchy described above, the following table sets forth the Company’s assets and liabilities

measured at fair value on a recurring basis:

 

December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

Note
Reference

 

Input Level

 

Fair Value

 

 

Carrying
Value

 

Assets:

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents (money market funds)

 

 

 

Level 1

 

$

38,339,762

 

 

$

38,339,762

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2023

 

 

 

 

 

 

 

 

 

 

 

Note
Reference

 

Input Level

 

Fair Value

 

 

Carrying
Value

 

Assets:

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents (money market funds)

 

 

 

Level 1

 

$

32,626,768

 

 

$

32,626,768

 

Summary of Changes in the Fair Value of Level 3 Contingent Consideration In connection with the Company's IPO, the Company's convertible promissory notes converted into an aggregate of 2,736,488 shares of common stock. As a result, the remaining convertible promissory note balance, including accrued interest, was eliminated, increasing additional paid-in capital.

 

Balance January 1, 2023

 

$

12,965,480

 

Issuance of convertible promissory notes

 

 

(12,965,480

)

Balance at December 31, 2023

 

$

-