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WARRANTS (Tables)

3 Months Ended

Mar. 31, 2025

Warrants

SUMMARY OF AGGREGATE FAIR VALUES FOR THE WARRANT DERIVATIVE LIABILITY

The following table summarizes the calculated aggregate fair values for the warrant derivative liability using the Black-Scholes method based on the following assumptions for the Offering:

SUMMARY OF AGGREGATE FAIR VALUES FOR THE WARRANT DERIVATIVE LIABILITY 

Exercise price per share of warrant		$	0.85
Fair market closing price per share of Common Stock		$	0.58
Volatility			83	%
Expected term (years)			5
Risk-free interest rate			4.12	%
Dividend yield			0	%

SCHEDULE OF CLASS OF WARRANT

SCHEDULE OF CLASS OF WARRANT 

		Number of warrants issued				Weighted- average exercise price				Number of warrants exercised				Number of warrants outstanding
Pre-IPO convertible notes			2,900,904			$	5.31				—				2,900,904
IPO tradeable			2,326,835				3.06				(725,580	)			1,601,255
IPO non-tradeable			3,015,464				3.06				(311,006	)			2,704,458
Direct offering March 8, 2024			1,600,000				1.64				(1,066,667	)			533,333
Placement agent direct offering March 8, 2024			32,000				1.64				—				32,000
Inducement/direct offering August 5, 2024			1,752,082				1.50				(1,302,082	)			450,000
Placement agent direct offering August 5, 2024			49,862				1.50				—				49,862
Direct offering October 21, 2024			2,662,782				1.50				(1,136,391	)			1,526,391
Placement agent direct offering October 21, 2024			61,448				1.50				—				61,448
Warrant inducement February 25, 2025			2,926,166				0.85				—				2.926.166
Placement agent warrant inducement February 25, 2025			87,785				0.85				—				87,785
Balance at March 31, 2025			17,415,328			$	2.74				(4,541,726	)			12,873,602

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- References

No definition available.

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- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 103
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-103

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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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

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