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Capital Structure (Tables)
 12 Months Ended
Dec. 31, 2025
Capital Structure [Abstract]  
Schedule of Securities Warrants are Convertible In addition, on March 31, 2025, the Company reclassified the Series A warrants from liability to equity upon determining that the warrants no longer required liability classification.
Securities into which warrants are convertible  Warrants
outstanding		   Exercise
Price		   Expiration
Date		  Fair
value		 
Common stock (Initial Public Offering)   9   $40,650   October 2026  $170,397 
Common stock (Private Placement)   426   $140,625   April 2027   6,071,114 
Common stock (Series A)   517,598   $48.30   January 2030   7,634,428 
Total   518,033           $13,875,939 

 

The following warrants were outstanding as of December 31, 2024, 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)     9     $ 40,650     October 2026   $ 170,397  
Common stock (Private Placement)     426     $ 140,625     April 2027     6,071,114  
Common stock (Series A)     277,778     $ 90     January 2030     6,581,789  
Common stock (Series B)     82,816     $ 301.875     July 2027     21,122,138  
Total     361,029                 $ 33,945,438  
Schedule of Fair Value of Warrants

The Company used the following assumptions for December 31, 2025 and 2024:

 

  

Initial
Public
Offering
Warrants

(Oct 2021)

  

Private
Placement Warrants

(Apr 2022)

 
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%
As such, the Series A warrants were reclassified to equity and remeasured utilizing the Black Scholes model with the following assumptions:
   Series A
Warrants		 
Fair value of underlying securities  $14.75 
Expected volatility   183.38%
Expected term (in years)   4.96 
Risk-free interest rate   4.30%

 

The fair value of the Series B warrants were re-measured prior to exercise using the Black-Scholes model, now that the exercise price has been fixed, based on the following assumptions:

 

    Series B
Warrants		  
Fair value of underlying securities   $ 6.01 – 32.19  
Expected volatility     162.99 – 190.53 %
Expected term (in years)     2.46 – 2.49  
Risk-free interest rate     4.18 – 4.30 %

The Company used the following assumptions:

 

   Series A
Warrants		   Series B
Warrants		 
Fair value of underlying securities  $0.85   $0.85 
Expected volatility   161.78%   161.78%
Expected term (in years)   5.0    5.0 
Risk-free interest rate   4.29%   4.29%