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Warrants (Tables)
3 Months Ended
Mar. 31, 2024
Warrants [Abstract]  
Schedule of Warrants Issued The fair value of the outstanding warrants was calculated using Binomial Model based on backward induction with the following assumptions:
Appraisal Date  December 31,
2023
   December 31,
2023
 
Market price per share (USD/share)  $
n/a
   $1.05 
Exercise price (USD/price)   n/a    6.475 
Risk free rate   n/a    5.3%
Dividend yield   n/a    0.0%
Expected term/ Contractual life (years)   n/a    0.4 years 
Expected volatility   n/a    53.9%
Appraisal Date  March 31,
2024
   March 31,
2024
 
Market price per share (USD/share)  $
n/a
   $1.04 
Exercise price (USD/price)   n/a    6.475 
Risk free rate   n/a    5.4%
Dividend yield   n/a    0.0 
Expected term/ Contractual life (years)   n/a    0.2 years 
Expected volatility   n/a    54.8%

  

   Investor
Warrants
Series A1
   Placement
Agent
Warrants
 
Appraisal Date  December 31,
2023
   December 31,
2023
 
Market price per share (USD/share)   1.05    1.05 
Exercise price (USD/price)   7.67    9.204 
Risk free rate   5.1%   5.1%
Dividend yield   0.0%   0.0%
Expected term/ Contractual life (years)   0.6 year    0.6 year 
Expected volatility   63.0%   60.3%
   Investor
Warrants
Series A1
   Placement
Agent
Warrants
 
Appraisal Date  March 31,
2024
   March 31,
2024
 
Market price per share (USD/share)   1.04    1.04 
Exercise price (USD/price)   7.67    9.204 
Risk free rate   5.3%   5.3%
Dividend yield   0.0%   0.0%
Expected term/ Contractual life (years)   0.4 years    0.4 years 
Expected volatility   58.4%   58.4%
Schedule of the Warrants Liability Measured at Fair Value on a Recurring Basis The following is a reconciliation of the beginning and ending balances of warrants liability measured at fair value on a recurring basis using Level 3 inputs:
   December 31,
2023
   March 31,
2024
 
Balance at the beginning of the year/ period  $136,000   $
    -
 
Warrants issued to institution investors   
-
    
-
 
Warrants issued to placement agent   
-
    
-
 
Warrants redeemed   
-
    
-
 
Fair value change of the issued warrants included in earnings   (136,000)   
-
 
Balance at end of year/ period   
-
    
-
 

 

Schedule of Warrant Activity The following is a summary of the warrant activity:
   Number of
Warrants
   Average
Exercise Price
   Weighted Average
Remaining
Contractual
Term in Years
 
             
Outstanding at January 1, 2024   5,296,579   $7.71    0.60 
Exercisable at January 1, 2024   5,296,579   $7.71    0.60 
Granted    
-
    
-
    
-
 
Exercised / surrendered   
-
    
-
    
-
 
Expired    
-
    
-
    
-
 
Outstanding at March 31, 2024   5,296,579   $7.71    0.35 
Exercisable at March 31, 2024   5,296,579   $7.71    0.35