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Subsequent Events | 9 Months Ended
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Sep. 30, 2024
Subsequent Events [Abstract] |
Subsequent Events | Note 11 – Subsequent Events Equity Financing On November 25, 2024, we entered into a Securities Purchase Agreement with Streeterville, upon the closing of which we will issue and sell to Streeterville (i) 6,300 shares of newly designated Series 1 Preferred for an aggregate purchase price of $6,300,000, and (ii) that number of shares of our Class A common stock, as calculated in accordance with the terms of the Securities Purchase Agreement (the “Pre-Delivery Shares”), for an aggregate purchase price of $0.0001 multiplied by the number of Pre-Delivery Shares issuable. The Series 1 Preferred will have a stated value of $1,111 per share, will accrue a 10% per annum rate of return, payable quarterly in additional shares of Class A common stock or cash at our election, and will be convertible into Class A common stock at a fixed conversion price of $9.00 per share, subject to adjustment upon the occurrence of certain trigger events as defined in the Securities Purchase Agreement. Equity Line On November 25, 2024, we also entered into an Equity Purchase Agreement with Atlas, which provides that, upon the terms and subject to the conditions and limitations set forth therein, Atlas will purchase up to an aggregate of $50,000,000 of our Class A common stock over the 24-month term of the Equity Line. Concurrently with the Equity Purchase Agreement, we also entered into a Registration Rights Agreement with Atlas, pursuant to the terms of which we have agreed to file one or more registration statements registering the sale of the shares of Class A common stock that may be issued to Atlas under the Equity Purchase Agreement.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
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