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WARRANTS (Tables) | 6 Months Ended
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Jun. 30, 2025
Warrants And Rights [Abstract] |
Schedule of Private Warrants Outstanding | The following table represents the Private Warrants outstanding at June 30, 2025 and December 31, 2024:
| Issued Date |  | Exercise Price |  | Number of shares |  | Expiration Date
Series A | January 2013 |  | $ | 63.36 |  |  | 631 |  | January 2028
Series B | June 2015 |  | 229.99 |  |  | 434 |  | June 2030
Series E | July 2022 |  | 1,284.95 |  |  | 778 |  | July 2029
Total |  |  |  |  | 1,843 |  |
Schedule of Fair Value of the Convertible Notes | The key inputs for the Monte Carlo simulation model to value the Public Placement Warrants at June 30, 2025 and December 31, 2024 were as follows:
| June 30, 2025 |  | December 31, 2024
Stock price | $ | 2.82 |  |  | $ | 9.60 |
Exercise price | $ | 230.00 |  |  | $ | 230.00 |
Redemption Threshold | $ | 360.00 |  |  | $ | 360.00 |
Effective expiration date | August 13, 2029 |  | August 13, 2029
Term (years) | 4.1 |  | 4.6
Volatility | 75 % |  | 80 %
Risk-free rate | 3.67 % |  | 4.27 %
The fair value of the Private Placement Warrants at February 14, 2025 and December 31, 2024 was determined using the Monte Carlo simulation model. The key inputs for the Monte Carlo simulation model to value the Private Placement Warrants at February 14, 2025 and December 31, 2024 were as follows:
| February 14, 2025 |  | December 31, 2024
Stock price | $ | 13.20 |  |  | $ | 9.60 |
Exercise price | $ | 230.00 |  |  | $ | 230.00 |
Redemption Threshold | $ | 360.00 |  |  | $ | 360.00 |
Effective expiration date | August 13, 2029 |  | August 13, 2029
Term (years) | 4.5 |  | 4.6
Volatility | 80 % |  | 80 %
Risk-free rate | 4.22 % |  | 4.27 %
The fair value of the Sponsor Warrants at June 30, 2025 and February 14, 2025 was determined using the Monte Carlo simulation model. The key inputs for the Monte Carlo simulation model to value the Sponsor Warrants at June 30, 2025 and February 14, 2025 were as follows:
| June 30, 2025 |  | February 14, 2025
Stock price | $ | 2.82 |  |  | $ | 13.20 |
Exercise price | $ | 10.00 |  |  | $ | 10.00 |
Effective expiration date | February 14, 2030 |  | February 14, 2030
Term (years) | 4.6 |  | 5.0
Volatility | 79 | % |  | 84 | %
Risk-free rate | 3.7 | % |  | 4.2 | %
The following assumptions were used to calculate the fair value of the Triton Warrants upon issuance as of February 13, 2025 using the Black-Scholes pricing model:
| February 13, 2025
Stock price | $ | 24.60 |
Exercise price | $ | 10.00 |
Effective expiration date | 8/13/2030
Term (years) | 5.5
Volatility | 84 | %
Risk-free rate | 4.4 | %

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- Definition Warrants And Rights + References No definition available. + Details
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- 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
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- Definition 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. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-3 + Details
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