XML 40 R29.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Derivative Liabilities (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2024
Derivative Liabilities [Abstract] |
Schedule of Derivative Expense | Derivative expense recorded during the three and six months ended June 30, 2023 is summarized as follows:
Commitment Date |  | May 8, 2023 |
Fair value of derivative liabilities |  | $ | 954,725 |
Less: face amount of debt |  |  | (555,000 | )
Derivative expense |  | $ | 399,725 |
Schedule of Derivative Liabilities Measured at Fair Value on a Recurring Basis | A reconciliation of the beginning and ending balances for the derivative liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) is as follows for the three and six months ended June 30, 2024:
|  | Contingent Milestone Payment |  |  | Total |
Derivative liabilities - December 31, 2023 |  | $ | 2,306,796 |  |  | $ | 2,306,796 |
Fair value - mark to market adjustment |  |  | (1,740,847 | ) |  |  | (1,740,847 | )
Derivative liabilities - March 31, 2024 |  | $ | 565,949 |  |  | $ | 565,949 |
Fair value - mark to market adjustment |  |  | 1,101 |  |  |  | 1,101 |
Derivative liabilities - June 30, 2024 |  | $ | 567,050 |  |  | $ | 567,050 |
|  | Bridge Shares |  |  | Warrants |  |  | Convertible Notes Payable |  |  | Total |
Derivative liabilities - December 31, 2022 |  | $ | 834,352 |  |  | $ | 578,164 |  |  | $ | 81,684 |  |  | $ | 1,494,200 |
Fair value - mark to market adjustment |  |  | 4,902 |  |  |  | 1,689 |  |  |  | (1,457 | ) |  |  | 5,134 |
Derivative liabilities - March 31, 2023 |  | $ | 839,254 |  |  | $ | 579,853 |  |  | $ | 80,227 |  |  | $ | 1,499,334 |
Fair value - commitment date |  |  | 680,276 |  |  |  | 274,449 |  |  |  | - |  |  |  | 954,725 |
Fair value - mark to market adjustment |  |  | 8,896 |  |  |  | (17,009 | ) |  |  | 145 |  |  |  | (7,968 | )
Derivative liabilities - June 30, 2023 |  | $ | 1,528,426 |  |  | $ | 837,293 |  |  | $ | 80,372 |  |  | $ | 2,446,091 |

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 815 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1B Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-5 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative liabilities at fair value. + References No definition available. + Details
Name: | us-gaap_ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration