Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of Carrying Value and Fair Value

The carrying value and fair value of the Company’s financial instruments are as follows:

December 31, 2023	Level 1		Level 2		Level 3		Total
Liabilities
Warrant liabilities	$	—	$	—	$	1,766	$	1,766

As of December 31, 2022	Level 1		Level 2		Level 3		Total
Liabilities
Warrant liabilities	$	—	$	—	$	203,043	$	203,043

Schedule of Fair Value Assumptions

The fair value of the warrants outstanding was estimated using the Black-Scholes model. The application of the Black-Scholes model requires the use of a number of inputs and significant assumptions including volatility. The following reflects the inputs and assumptions used:

As of	December 31, 2023			December 31, 2022
Stock price	$	0.07		$	1.30
Exercise price	$	6.40		$	6.04
Remaining term (in years)		3.5			0.46
Volatility		171.8	%		159	%
Risk-free rate		3.84	%		3.99	%
Expected dividend yield		—	%		—

Schedule of Change in Fair Value of the Warrant Liabilities

The warrant liabilities will be remeasured at each reporting period with changes in fair value recorded in other income (expense), net on the consolidated statements of operations. The change in fair value of the warrant liabilities was as follows:

Warrant liabilities
Estimated fair value at December 31, 2022	$	203,043
Issuance of warrant liabilities		-
Change in fair value		(201,277	)
Estimated fair value at December 31, 2023	$	1,766