Warrant Liability (Tables)

9 Months Ended

Sep. 30, 2024

Short-Term Debt [Line Items]

Schedule of Derivative Liability Transactions

The details of warrant liability transactions were as follows:

	Nine Months Ending
	September 30, 2024			September 30, 2023
	(Unaudited)			(Unaudited)
Beginning balance	$	1,052,000		$	18,000
Issuance of warrants at fair value		—			5,831,000
Change in fair value		(870,000	)		(4,796,000	)
Extinguishment		—			—
Ending balance	$	182,000		$	1,053,000

2023 Warrants [Member]

Short-Term Debt [Line Items]

Schedule of Derivative Liabilities Assumptions

The 2023 Warrant liability is valued using a Binomial pricing model with the following assumptions:

	2023 Warrants
	September 30, 2024			December 31, 2023
	(Unaudited)			(Unaudited)
Stock price	$	2.31		$	7.20
Risk-free interest rate 1		3.58	%		4.6	%
Expected volatility 2		114	%		119.7	%
Expected life (in years) 3		3.25 – 3.75			4.5
Expected dividend yield 4		—			—
Fair value of warrants	$	182,000		$	1,051,000

¹ Based on rates established by the Federal Reserve Bank

² Historical volatility of the Company’s common stock is used to estimate the future volatility of its common stock

³ Determined by the remaining contractual life of the derivative instrument

⁴ Based on no dividends paid or expected to be paid

2020 Warrants [Member]

Short-Term Debt [Line Items]

Schedule of Derivative Liabilities Assumptions

The 2020 Warrant liability is valued using a Binomial pricing model with the following assumptions:

	2020 Warrants
	September 30, 2024			September 30, 2023
	(Unaudited)
Stock price	$	2.31		$	7.20
Risk-free interest rate 1		3.98	%		5.0	%
Expected volatility 2		114	%		89.0	%
Expected life (in years) 3		0.8			1.8
Expected dividend yield 4		—			—
Fair value of warrants	$	—		$	2,000