XML 32 R22.htm IDEA: XBRL DOCUMENT v3.25.3

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2025

Fair Value Measurements

Schedule of carrying value and fair value of financial assets and liabilities measured at fair value on a recurring basis

The following table provides the carrying value and fair value of certain financial assets and liabilities of the Company measured at fair value on a recurring basis as of September 30, 2025 and December 31, 2024:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Fair Value Measurement at

​

​

​

​

​

September 30, 2025

​

​

Carrying Value

​

Level 1

​

Level 2

​

Level 3

Assets:

​

​

​

​

​

​

​

​

​

​

​

​

Cash equivalents

​

$

507,743

​

$

507,743

​

$

—

​

$

—

Total assets measured and recorded at fair value

​

$

507,743

​

$

507,743

​

$

—

​

$

—

Liabilities:

​

​

​

​

​

​

​

​

​

​

​

​

Warrant liability

​

$

299,000

​

$

—

​

$

—

​

$

299,000

Total liabilities measured and recorded at fair value

​

$

299,000

​

$

—

​

$

—

​

$

299,000

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Fair Value Measurement at

​

​

​

​

​

December 31, 2024

​

​

Carrying Value

​

Level 1

​

Level 2

​

Level 3

Assets:

​

​

​

​

​

​

​

​

​

​

​

​

Cash equivalents

​

$

491,006

​

$

491,006

​

$

—

​

$

—

Total assets measured and recorded at fair value

​

$

491,006

​

$

491,006

​

$

—

​

$

—

Liabilities:

​

​

​

​

​

​

​

​

​

​

​

​

Warrant liability

​

$

737,000

​

$

—

​

$

—

​

$

737,000

Total liabilities measured and recorded at fair value

​

$

737,000

​

$

—

​

$

—

​

$

737,000

Canaccord Warrants

Fair Value Measurements

Schedule of quantitative information regarding Level 3 fair value measurements inputs

The following tables provide quantitative information regarding the Level 3 classified Canaccord Warrants as of their respective measurement dates:

​

​	​	​	​	​	​	​	​	​	​	​
​		​	​	September 30, 2025			​	December 31, 2024		​
Exercise price	​	​	​	$	9.00	​	​	$	9.00	​
Closing stock price	​	​	​	$	2.07	​	​	$	5.03	​
Number of warrants	​	​	​		308,333	​	​		308,333	​
Volatility	​	​	​		118	%	​		80	%
Term (time to expiration in years)	​	​	​		3.09	​	​		3.84	​
Risk-free rate	​	​	​		3.7	%	​		4.3	%

​

X

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-3

+ Details

Name:	us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 103
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-103

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

+ Details

Name:	us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

+ Details

Name:	us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Details

Name:	us-gaap_FinancialInstrumentAxis=us-gaap_WarrantMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type: