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Stockholders' Equity (Tables) | 6 Months Ended
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Jun. 30, 2024
Stockholders' Equity [Abstract] |
Schedule of Equity-Classified Warrants | There were no equity-classified warrants issued or outstanding during the three and six months ended June 30, 2023. The following table presents a summary of the activity for the Company’s equity-classified warrants during the three and six months ended June 30, 2024:
|  | Number of Warrants |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Life (Years) |
Total outstanding, December 31, 2023 |  |  | 263,659 |  |  | $ | 74.00 |  |  |  | 4.47 |
Granted |  |  | 704,414 |  |  |  | 4.50 |  |  |  | 5.00 |
Exercised |  |  | (41,630 | ) |  |  | 0.12 |  |  |  | Indefinite |
Forfeited |  |  | - |  |  |  | - |  |  |  | - |
Expired |  |  | - |  |  |  | - |  |  |  | - |
Total outstanding, March 31, 2024 |  |  | 926,443 |  |  | $ | 24.47 |  |  |  | 4.67 |
Granted |  |  | - |  |  |  | - |  |  |  | - |
Exercised |  |  | (41,629 | ) |  |  | 0.12 |  |  |  | Indefinite |
Forfeited |  |  | - |  |  |  | - |  |  |  | - |
Expired |  |  | - |  |  |  | - |  |  |  | - |
Total outstanding, June 30, 2024 |  |  | 884,814 |  |  | $ | 25.62 |  |  |  | 4.41 |
Total exercisable, June 30, 2024 |  |  | 884,814 |  |  | $ | 25.62 |  |  |  | 4.41 |
Schedule of Assumptions Used In Determining the Fair Value of Equity-Classified Warrants Granted | The following table summarizes the significant assumptions used in determining the fair value of equity-classified warrants granted during the six months ended June 30, 2024:
|  | January 31, 2024 |
Stock price |  | $ | 3.36 |
Exercise price |  | $ | 5.08 |
Risk-free interest rate |  |  | 3.91 | %
Expected volatility |  |  | 95.00 | %
Expected term (years) |  |  | 5.00 |
Expected dividend yield |  |  | 0.00 | %

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + 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://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-1 + Details
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