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Warrant Liability (Tables)

12 Months Ended

Dec. 31, 2024

Short-Term Debt [Line Items]

Schedule of Derivative Liability Transactions

The details of warrant liability transactions were as follows:


		Year Ending
		December 31, 2024				December 31, 2023
Beginning balance		$	1,052,000			$	18,000
Issuance of warrants at fair value			—				5,831,000
Change in fair value			(800,000	)			(4,797,000	)
Extinguishment			—				—
Ending balance		$	252,000			$	1,052,000

2023 Warrants [Member]

Short-Term Debt [Line Items]

Schedule of Derivative Liabilities Assumptions

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

		2023 Warrants
		December 31, 2024				December 31, 2023
Stock price		$	3.05			$	7.80
Risk-free interest rate ¹			4.27	%			4.2	%
Expected volatility ²			114	%			115.2	%
Expected life (in years) ³			3.00 – 3.50				4.00 – 4.50
Expected dividend yield ⁴			—				—
Fair value of warrants		$	252,000			$	1,050,000

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
		December 31, 2024				December 31, 2023
Stock price		$	3.05			$	7.80
Risk-free interest rate ¹			4.28	%			4.5	%
Expected volatility ²			114	%			89.0	%
Expected life (in years) ³			0.6				1.6
Expected dividend yield ⁴			—				—
Fair value of warrants		$	—			$	2,000

At December 31, 2024, the estimated fair value of these 2020 Warrants was de minimis, as such, none was recorded.