DERIVATIVE LIABILITIES

12 Months Ended

Dec. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVE LIABILITIES

NOTE 11 – DERIVATIVE LIABILITIES

On February 12, 2021, the Company granted 25,000 warrants (the “Platinum Point Warrants”) that have a term of three-years and an exercise price of $11.60 to Platinum Point Capital, LLC. The warrants granted contain certain price protections, that make the value of the warrants a derivative liability. On February 12, 2024, the Platinum Point Warrants expired and as a result, the related derivative liability decreased to $0.

The fair value of the Platinum Point Warrants derivative liability is estimated using a Black-Scholes valuation model with a stock price of $11.60. Changes to the inputs used in the model could produce a significantly higher or lower fair value. The following assumptions were used as of December 31, 2023:

	For the Years Ended
	December 31,		December 31,
	2024		2023
Expected term (years)		N/A		0.12
Expected volatility		N/A		1,288.16	%
Expected dividend yield		N/A		0.00	%
Risk-free interest rate		N/A		4.79	%

The derivative liabilities as of December 31, 2024 and December 31, 2023 were as follows:

	December 31, 2024		December 31, 2023
Fair value of the Platinum Point Warrants (25,000 warrants)	$	-	$	17,500
	$	-	$	17,500

Activity related to the derivative liabilities for the year ended December 31, 2024 is as follows:

Beginning balance as of December 31, 2023	$	17,500
Change in fair value of warrant - derivative liability		(17,500	)
Ending balance as of December 31, 2024	$	-