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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2023
Accounting Policies [Abstract]  
Schedule of Revenue by Geographical Area

The distribution of revenue by geographical area was as follows:

 

Years Ended
December 31,

   

2023

 

2022

United States

 

$

 

$

Switzerland

 

 

58,465

 

 

Total

 

$

58,465

 

$

Schedule of Long-lived by Geographical Area

The distribution of long-lived assets by geographical area, which includes property and equipment and the Company’s right of use asset, was as follows:

 

Years Ended
December 31,

   

2023

 

2022

United States

 

$

10,956

 

$

14,089

Switzerland

 

 

198,240

 

 

Total

 

$

209,196

 

$

14,089

Schedule of Fair Value of Financial Instruments Measured on a Recurring Basis

The fair value of financial instruments measured on a recurring basis is as follows:

 

As of December 31, 2023

Description

 

Total

 

Level 1

 

Level 2

 

Level 3

Liabilities:

 

 

   

 

   

 

   

 

 

Contingent warrant liability

 

$

2,641

 

 

 

 

 

$

2,641

Subscription agreement liability

 

$

864,000

 

 

 

 

 

$

864,000

Total

 

$

866,641

 

$

 

$

 

$

866,641

 

As of December 31, 2022

Description

 

Total

 

Level 1

 

Level 2

 

Level 3

Liabilities:

 

 

           

 

 

Contingent warrant liability

 

$

14,021

 

 

 

$

14,021

Schedule of Activity for the Subscription Agreement Liability

The following table summarizes the activity for the subscription agreement liability, using unobservable Level 3 inputs, for the year ended December 31, 2023:

 

Subscription
Agreement
Liability

Balance at December 31, 2022

 

$

Fair value upon issuance

 

 

729,900

Change in fair value

 

 

134,100

Balance at December 31, 2023

 

$

864,000

Schedule of Activity for the Contingent Warrant Liability

The following table summarizes the activity for the contingent warrant liability, using unobservable Level 3 inputs, for the years ended December 31, 2023 and 2022:

 

Contingent
Warrant
Liability

Balance at December 31, 2021

 

$

 

Fair value at issuance

 

 

75,431

 

Change in fair value

 

 

(61,410

)

Balance at December 31, 2022

 

 

14,021

 

Fair value at issuance

 

 

25,837

 

Reclassification to equity

 

 

(129,184

)

Change in fair value

 

 

91,967

 

Balance at December 31, 2023

 

$

2,641

 

Schedule of Computation of Diluted Shares Outstanding

The following securities were excluded from the computation of diluted shares outstanding for the periods presented, as they would have had an anti-dilutive impact on the Company’s net loss:

 

Years Ended
December 31,

   

2023

 

2022

Stock options

 

1,904,830

 

1,392,654

Warrants

 

7,899,661

 

5,264,274

Unvested restricted stock

 

256,580

 

Common stock issuable upon conversion of Series A preferred stock

 

5,709,935

 

Total

 

15,771,006

 

6,656,928