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Segment Reporting | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Segment Reporting | NOTE 17 – SEGMENT REPORTING Operating segments are defined as components of an entity for which separate financial information is available and regularly reviewed by the chief operating decision maker (“CODM”). The Company manages its operations as a single segment for purposes of assessing performance and making decisions. The accounting policies of the segment are those included in Note 2 - Summary of Significant Accounting Policies. The Company’s CODM is its President and Chief Operating Officer. The Company has determined that it operates in one operating segment and one reportable segment, as the CODM reviews financial information presented on a consolidated basis, using the operating expenses and interest expense, as presented on the face of the income statement, for purposes of making operating decisions, allocating resources, and evaluating financial performance. The measure of segment assets is reported on the balance sheet as total consolidated assets. Significant expenses regularly reviewed by the CODM are Professional fees, Operations and research, excluding compensation which is reviewed separately and employee compensation. The following table presents the details of the significant segment expenses, segment net revenues, and the segment performance measure, net loss, in the periods indicated:
| For the Year Ended December 31, |
| 2024 |  |  | 2023 |
Total revenue | $ | 768,677 |  |  | $ | 803,799 |
Less significant expenses: |  |  |  |  |
Professional fees |  | 2,871,333 |  |  |  | 2,271,794 |
Operations and research (excluding compensation) |  | 3,949,669 |  |  |  | 3,506,860 |
Compensation: |  |  |  |  |
Salaries and Wages |  | 3,120,544 |  |  |  | 3,679,063 |
Share-based compensation |  | 2,011,605 |  |  |  | 585,654 |
Total Compensation |  | 5,132,149 |  |  |  | 4,264,717 |
Total Significant Expenses |  | 11,953,151 |  |  |  | 10,043,371 |
Other segment items (gain)/loss (1) |  | (17,431,603 | ) |  |  | (5,354,970 | )
Total Significant Expenses and Other Segment Items | $ | (5,478,452 | ) |  | $ | 4,688,401 |
Net Income/(Loss) | $ | 6,247,129 |  |  | $ | (3,884,602 | )
(1) Includes other expenses within Marketing, General and Administrative and Operations and Research which are not significant individually or in the aggregate and not included within Significant Expenses above; as well as, Interest income, Interest Expense, Loss on equity method investment, Change in derivative liabilities fair value, Gain on debt extinguishment, Residual economic interest in shipwreck, Loss on Termination Agreement, and Other, as reported in our consolidated statements of operations.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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