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Warrants (Tables) | 3 Months Ended
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Mar. 31, 2024
Guarantees and Product Warranties [Abstract] |
Summary of Activity Related to Warrants | A summary of activity related to warrants for the periods presented is as follows: Summary of Activity Related to Warrants
|  | Shares |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term |
Outstanding as of December 31, 2022 |  |  | 1,056,452 |  |  |  | 0.60 | * |  |  | — |
Issued – March 2023 |  |  | 357,136 |  |  | $ | 0.60 | * |  |  | — |
Issued – June 2023 |  |  | 1,254,000 |  |  |  | 7.60 |  |  |  | — |
Issued – November 2023 |  |  | 815,958 |  |  |  | 2.49 |  |  |  | — |
Exercised |  |  | (250,000 | ) |  |  | — |  |  |  | — |
Outstanding as of December 31, 2023 |  |  | 3,233,546 |  |  | $ | 5.38 |  |  |  | — |
Exercised |  |  | (829,500 | ) |  |  | 0.60 | * |  |  | — |
Issued – March 6, 2024 |  |  | 829,394 |  |  |  | 0.60 |  |  |  | — |
Issued – March 7, 2024 |  |  | 136,861 |  |  |  | 1.51 |  |  |  | — |
Outstanding as of March 31, 2024 |  |  | 3,370,301 |  |  |  | 2.13 |  |  |  | 4.06 |
Exercisable as of March 31, 2024 |  |  | 3,370,301 |  |  |  | 2.13 |  |  |  | 4.06 |
* |  | Reflects the exercise price after the March 2024 Down Round Trigger events on March 6, 2024 as described above.

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- Definition Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-1 + Details
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