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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Schedule of Information About Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables present information about financial assets and liabilities measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values:

 

 

 

December 31, 2023

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Derivative Liability

 

$

-

 

 

$

-

 

 

$

137,000

 

 

$

137,000

 

Total Liabilities

 

$

-

 

 

$

-

 

 

$

137,000

 

 

$

137,000

 

Schedule of Derivative Liability Measured at Fair Value Using Significant Unobservable Level 3 Inputs

The following table presents activity for the Derivative Liability that were measured at fair value using significant unobservable Level 3 inputs during the years ended December 31, 2024 and, 2023:

 

 

 

Derivative
Liability

 

 Balance as of January 1, 2023

 

$

-

 

Additions (make-whole provision in convertible notes agreement)

 

 

137,000

 

Change in fair value

 

 

-

 

Balance as of December 31, 2023

 

$

137,000

 

Additions (make-whole provision in convertible notes agreement)

 

 

2,402,228

 

Change in fair value

 

 

313,772

 

Reclassification to additional paid-in capital

 

 

(2,853,000

)

Balance as of December 31, 2024

 

$

-