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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of Fair Value Measurements for Assets and Liabilities

The following tables summarize the fair values and levels within the fair value hierarchy in which the fair value measurements fall for assets and liabilities measured on a recurring basis as of:

 Schedule of Fair Value Measurements for Assets and Liabilities

December 31, 2023

Description		Level 1				Level 2				Level 3				Total
Liabilities
Common stock warrants		$	—			$	—			$	35,453			$	35,453
Total		$	—			$	—			$	35,453			$	35,453

December 31, 2022

Description		Level 1				Level 2				Level 3				Total
Liabilities
Common stock warrants		$	—			$	—			$	70,283			$	70,283
2022 Convertible Notes			—				—				5,600,000				5,600,000
Total		$	—			$	—			$	5,670,283			$	5,567,283

Schedule of Changes in Level 3 Instruments Measured on a Recurring Basis

The following table presents the changes in Level 3 instruments measured on a recurring basis for the period ended December 31, 2023:

 Schedule of Changes in Level 3 Instruments Measured on a Recurring Basis

Balance at December 31, 2021		$	71,104
Change in fair value of warrants			(821	)
Issuance of 2022 Convertible Notes			4,350,000
Change in fair value of 2022 Convertible Notes			1,250,000
Balance at December 31, 2022			5,670,283
Changes in fair value of warrants			(34,830	)
Changes in fair value of 2022 Convertible Notes			3,630,100
Conversion of 2022 Convertible Notes			(9,230,100	)
Balance at December 31, 2023			35,453

Schedule of Fair Value of Warrants Using Black Scholes Option Pricing Model

At December 31, 2023 and 2022, the Company estimated the fair value of the warrants using the Black-Scholes option pricing model with the following assumptions:

 Schedule of Fair Value of Warrants Using Black Scholes Option Pricing Model

		December 31, 2023				December 31, 2022
Underlying common stock value		$	0.92			$	1.70
Expected term (years)			4.29				5.00
Expected volatility			99	%			86	%
Risk free interest rate			4	%			3	%
Dividend yield			—	%			—	%

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Tabular disclosure of share-based payment arrangement.

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-Name Accounting Standards Codification
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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.

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Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References

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