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Capital Structure (Tables) | 3 Months Ended
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Mar. 31, 2024
Capital Structure [Abstract] |
Schedule of Securities Warrants are Convertible | The following warrants were outstanding as of March 31, 2024 and December 31, 2023, all of which contain standard anti-dilution protections in the event of subsequent rights offerings, stock splits, stock dividends or other extraordinary dividends, or other similar changes in the Company’s common stock or capital structure, and none of which have any participating rights for any losses:
Securities into which warrants are convertible |  | Warrants outstanding |  |  | Exercise Price |  |  | Expiration Date |  | Fair value |
Common stock (Initial Public Offering) |  |  | 140,000 |  |  | $ | 9.375 |  |  | October 2026 |  | $ | 170,397 |
Common stock (Private Placement) |  |  | 7,096,776 |  |  | $ | 2.71 |  |  | April 2027 |  |  | 6,745,681 |
Total |  |  | 7,236,776 |  |  |  |  |  |  |  |  | $ | 6,916,078 |
Schedule of Fair Value of Warrants | The Company used the following assumptions:
|  | Initial Public Offering Warrants |  |  | Private Placement Warrants |
Fair value of underlying securities |  | $ | 2.88 |  |  | $ | 1.37 |
Expected volatility |  |  | 51.0 | % |  |  | 45.0 | %
Expected term (in years) |  |  | 5.0 |  |  |  | 5.0 |
Risk-free interest rate |  |  | 1.13 | % |  |  | 2.92 | %

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