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FAIR VALUE MEASUREMENTS (Tables)

5 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

Schedule of recurring basis to determine the fair value of the liability

Schedule of recurring basis to determine the fair value of the liability
		Fair value measured as of June 30, 2023
		Fair value on June 30, 2023				Quoted prices in active markets (Level 1)				Significant other observable inputs (Level 2)				Significant unobservable inputs (Level 3)
Warrant liability		$	582,399			$	–			$	–			$	582,399
Derivative Liability			172,389				–				–				172,389
Total Fair value		$	754,788			$	–			$	–			$	754,788

Schedule of liabilities measures at fair value

Schedule of liabilities measures at fair value
		Warrant Liability				Derivative Liability				Total
Balance - January 1, 2023		$	–			$	–			$	–
Additional warrant and derivative liability			579,818				163,170				742,988
Change in fair value			2,581				9,219				11,800
Balance - June 30, 2023		$	582,399			$	172,389			$	754,788

Schedule of assumptions

Schedule of assumptions
		As of Issuance				As of June 30, 2023
		Warrant Liability				Warrant Liability
Strike Price		$	0.63			$	0.63
Contractual term (years)			5.0				5.0
Volatility (annual)			80.0%				80.0%
Risk-free rate			3.52%				4.15%
Floor Financing price		$	0.50			$	0.50

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- References

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- Definition

Tabular disclosure of liabilities measured at fair value measured on a recurring or nonrecurring basis. Includes, but is not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

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- Definition

Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

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- Definition

Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (k)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

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