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OTHER ASSETS

3 Months Ended

Mar. 31, 2024

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

NOTE 9 – OTHER ASSETS

On April 9, 2020, pursuant to a licensing agreement entered into in March 2020, the Company received 10-year warrants to purchase 127,000 shares of Sanuwave Health, Inc. at a price of $0.19 per share. The fair value for warrants received was estimated at the date of grant and at each reporting period using a Black-Scholes-Merton pricing model with the following underlying assumptions:

SCHEDULE OF WARRANTS ASSUMPTIONS

	March 31, 2024			March 31, 2023
Price at valuation	$	0.02		$	0.04
Exercise price	$	0.19		$	0.19
Risk free interest		4.20	%		3.55	%
Expected term (in years)		6			7
Volatility		125.4	%		155.6	%

The Company considers this to be Level 3 inputs which are valued at each reporting period. For the three months March 31, 2024, changes in the fair value of these warrants amounted to $1,000, leaving a balance of $2,000 as of March 31, 2024. For the three months ended March 31, 2023, changes in the fair value of these warrants amounted to a gain of $2,000.

Financial Instruments Measured at Fair Value on a Recurring Basis

The fair value accounting standards define fair value as the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is determined based upon assumptions that market participants would use in pricing an asset or liability. Fair value measurements are rated on a three-tier hierarchy as follows:

●	Level 1 inputs: Quoted prices (unadjusted) for identical assets or liabilities in active markets;

●	Level 2 inputs: Inputs, other than quoted prices included in Level 1, that are observable either directly or indirectly; and

●	Level 3 inputs: Unobservable inputs for which there is little or no market data, which require the reporting entity to develop its own assumptions.

There were no transfers between Level 3 during the three months ended March 31, 2024, and 2023.

The following table presents changes in Level 3 asset and liability measured at fair value for the quarters ended September 30, 2023 and 2022:

	Asset
Balance – December 31, 2022	$	3,000
Fair value adjustments – Sanuwave warrants		2,000
Balance – March 31, 2023	$	5,000

Balance – December 31, 2023		1,000
Fair value adjustments – Sanuwave warrants		1,000
Balance – March 31, 2024	$	2,000

The following table sets forth the Company’s assets and liabilities which are measured at fair value on a recurring basis by level within the fair value hierarchy:

	Level I		Level II		Level III		Total
	Fair Value Measurements as of March 31, 2024
	Level I		Level II		Level III		Total
Asset:
Other assets	$	-	$	-	$	2,000	$	2,000

	Level I		Level II		Level III		Total
	Fair Value Measurements as of December 31, 2023
	Level I		Level II		Level III		Total
Asset:
Other assets	$	-	$	-	$	1,000	$	1,000