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Warrant Liability (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2024

Dec. 31, 2023

Schedule of Fair Value of Warrant

The fair value of stock option awards accounted for under ASC 718 was estimated at the date of grant using a Black-Scholes option-pricing model with the following assumptions:

Schedule of Fair Value of Stock Option Awards

		Year Ended December 31, 2023				Year Ended December 31, 2022
Expected term (years)			2.88 to 3.25				2.50 to 3.00
Expected volatility			75.40% to 89.93	%			100.81% to 110.74	%
Risk-free interest rate			3.71% to 4.27	%			2.90% to 3.47	%
Dividend rate			0	%			0	%

Schedule of Warrant Liability

The Warrant liability at September 30, 2024 and December 31, 2023 was as follows:

Schedule of Warrant Liability 

		September 30, 2024				December 31, 2023
Trading and Overallotment Warrants		$	431,250			$	1,121,250
Note Warrants			11,765				30,588
Offering Warrants – February 2023			20,053				234,072
Offering Warrants – September 2023			216,911				1,036,875
Inducement Warrants – May 2024			347,123				-
Total Warrant Liability		$	1,027,102			$	2,422,785

The Warrant liability at December 31, 2023 and 2022 was as follows:

 Schedule of Warrant Liability

		2023				2022
Trading and Overallotment Warrants		$	1,121,250				1,121,250
Note Warrants			30,588				30,588
Offering Warrants – February 2023			234,072				-
Offering Warrants – September 2023			1,036,875				-
Total Warrant Liability		$	2,422,785				1,151,838

Schedule of Warrant Outstanding

The Warrants outstanding at September 30, 2024 and December 31, 2023 were as follows:

Schedule of Warrant Outstanding 

		September 30, 2024				December 31,2023
Trading, Overallotment and Underwriter Warrants			400,568				400,568
Note Warrants			10,695				10,695
Offering Warrants – February 2023			8,607				102,206
Offering Warrants – September 2023			95,078				397,727
Inducement Warrants – May 2024			260,799				-
Warrants issued for services arrangement			28,636				22,500
Total Warrants Outstanding			804,383				1,194,495

The Warrants outstanding at December 31, 2023 and 2022 were as follows:

 Schedule of Warrant Outstanding

		December 31, 2023				December 31, 2022
Trading and Overallotment Warrants			8,812,500				8,812,500
Note Warrants			235,294				235,294
Offering Warrants – February 2023			2,248,521				-
Offering Warrants – September 2023			8,750,003				-
Warrants issued for services arrangement			495,000				-
Total Warrants Outstanding			20,541,318				9,047,794

Schedule of Fair Value of Warrant

The fair value of stock option awards accounted for under ASC 718 was estimated at the date of grant using a Black-Scholes option-pricing model with the following assumptions for the options granted during the nine months ended September 30, 2024 and 2023.

Schedule of Fair Value of Stock Option Awards 

		September 30, 2024				September 30, 2023
Expected term (years)			2.66 to 3.06				2.88 to 3.25
Expected volatility			81.15 % to 83.04	%			75.40% to 89.93	%
Risk-free interest rate			4.71 % to 4.76	%			3.71% to 4.27	%
Dividend rate			0				0

Warrant [Member]

Schedule of Fair Value of Warrant

Schedule of Fair Value of Warrant

		Year Ended December 31, 2023
Expected term (years)			4.10 to 5.50
Expected volatility			45.30% to 70.44	%
Risk-free interest rate			3.53% to 4.54	%
Dividend rate			0	%

Schedule of Fair Value of Warrant

Schedule of Fair Value of Warrant 

		September 30, 2024				September 30, 2023
Expected term (years)			3.37 to 5.99				4.36 to 5.5
Expected volatility			58.78% to 121.32	%			45.31% to 59.93	%
Risk-free interest rate			3.41% to 4.56	%			3.53 to 4.54	%
Dividend rate			0				0

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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.

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-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147482078/820-10-55-103

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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