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CONVERTIBLE DEBT AND NOTES PAYABLE (Tables)
3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
SCHEDULE OF THE ARENA DEBENTURES

SCHEDULE OF THE ARENA DEBENTURES 

   Arena Note 
Convertible debenture - Arena Principal  $3,333,333 
Original issuance discount   (333,333)
Other issuance costs   (360,000)
Fair value of shares issued   (420,200)
Derivative liability recognized as debt discount   (2,477,217)
Excess debt discount amortization at issuance date   257,417 
Amortization of debt discount   1,092,461 
Arena note, net of unamortized debt discount, at March 31, 2025  $1,092,461 
SCHEDULE OF DERIVATIVE LIABILITY

The Company valued the derivative liability using a Black-Scholes method using following assumptions:

 

SCHEDULE OF DERIVATIVE LIABILITY 

   March 31,   December 31, 
   2025   2024 
Risk-free interest rate   4.030%   4.290%
Expected term (in years)   1.15    1.40 
Expected volatility+A13   143.88%   171.46%
Expected dividend yield   0.00%   0.00%
SCHEDULE OF THE DERIVATIVE LIABILITY LIABILITY

The following is a summary of the derivative liability:

 

SCHEDULE OF THE DERIVATIVE LIABILITY LIABILITY 

   Derivative 
   Liability 
Outstanding as of December 31, 2024  $2,296,834 
Change in fair value   (603,322)
Outstanding as of March 31, 2025  $1,693,512 
SCHEDULE OF DEBT

The following is a summary of the Company’s debt as of March 31, 2025 and December 31, 2024:

 

SCHEDULE OF DEBT 

                
   As of March 31, 2025 
  

Principal

outstanding

  

Unamortized debt

discount

  

Debt, net of unamortized

debt discount

 
Convertible debenture - Arena  $3,333,333   $(2,240,872)  $1,092,461 
Scienture convertible debt   2,000,000    -    2,000,000 
Total debt   5,333,333    (2,240,872)   3,092,462 
Current maturity of debt   2,000,000    -    2,000,000 
Total long-term debt  $3,333,333   $(2,240,872)  $1,092,461 

 

                
   As of December 31, 2024 
  

Principal

outstanding

  

Unamortized debt

discount

  

Debt, net of unamortized

debt discount

 
Convertible debenture - Arena  $3,333,333   $(2,721,058)  $612,275 
August 2024 note   360,000    (74,577)   285,423 
Scienture convertible debt   2,000,000    -    2,000,000 
Total debt   5,693,333    (2,795,635)   2,897,698 
Current maturity of debt   2,360,000    (74,577)   2,285,423 
Total long-term debt  $3,333,333   $(2,721,058)  $612,275