Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Summary of Changes In Level 3 Liabilities (Assets) Measured At Fair Value On Recurring Basis

The table below presents the changes in Level 3 liabilities (assets) measured at fair value on a recurring basis during the three months ended June 30, 2024 and 2023:


	White Lion Derivative Liability			Key Company Stockholder Forward Liability (Asset)			Private Placement Warrants Liability			November 2022 Convertible Note Liability		April 2023 Conversion Feature Liability		April 2023 Convertible Notes Warrants Liability			December 2023 Conversion Feature Liability		May 2024 Conversion Feature Liability
Balance at January 1, 2023	$	1,000		$	(13,000	)	$	525,000		$	165,000	$	—	$	—		$	—	$	—
Change in fair value		(1,000	)		13,000			(525,000	)		—		—		—			—		—
Balance at March 31, 2023	$	—		$	—		$	—		$	165,000	$	—	$	—		$	—	$	—
Inception Date		—			—			—			—		849,146		2,402,161			—		—
Capital Contribution to Equity on Exercise of Warrants		—			—			—			—		—		(244,261	)		—		—
Change in fair value		—			—			—			—		548,233		712,857			—		—
Balance at June 30, 2023	$	—		$	—		$	—		$	165,000	$	1,397,379	$	2,870,757		$	—	$	—

Balance at January 1, 2024	$	—		$	—		$	—		$	—	$	—	$	—		$	361,704	$	—
Issuance of December 2023 Convertible Notes		—			—			—			—		—		—			211,842		—
Change in fair value		—			—			—			—		—		—			114,709		—
Balance at March 31, 2024	$	—		$	—		$	—		$	—	$	—	$	—		$	688,255	$	—
Issuance of May 2024 Convertible Notes		—			—			—			—		—		—			—		927,150
Change in fair value		—			—			—			—		—		—			172,064		66,225
Balance at June 30, 2024	$	—		$	—		$	—		$	—	$	—	$	—		$	860,319	$	993,375

The table below presents the changes in Level 3 liabilities (assets) measured at fair value on a recurring basis during the years ended December 31, 2023 and 2022:


	White Lion Derivative Liability			Key Company Stockholder Forward Liability (Asset)			Forward Share Purchase Liability			Private Placement Warrants Liability			November 2022 Convertible Note Liability			April 2023 Conversion Feature Liability			April 2023 Convertible Notes Warrants Liability			December 2023 Conversion Feature Liability
Balance at January 1, 2022	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Inception Date		1,900,000			—			—			—			165,000			—			—			—
Business Combination with Ignyte		—			12,000			68,110			450,000			—			—			—			—
Change in fair value		(1,899,000	)		(25,000	)		(68,110	)		75,000			—			—			—			—
Balance at December 31, 2022	$	1,000		$	(13,000	)	$	—		$	525,000		$	165,000		$	—		$	—		$	—
Inception Date		—			—			—			—			—			849,146			2,402,160			361,704
Extinguishment of Debt		—			—			—			—			(165,000	)		—			—			—
Capital Contribution from Exercise of Warrants		—			—			—			—			—			—			(761,568	)		—
Capital Contribution from Reclassification of Warrants		—			—			—			—		$	—			—			(65,469	)		—
Change in fair value		(1,000	)		13,000			—			(525,000	)		—			(849,146	)		(1,575,123	)		—
Balance at December 31, 2023	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	361,704

Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Schedule of Weighted Average Assumptions Used in Determining the Fair Value

The fair value of the April 2023 Convertible Note Warrants at the reclassification date was based on the following assumptions:




Stock price	$0.08
Expected volatility	74.9	%
Risk-free interest rate	4.65	%
Expected term (in years)	4.49
Expected dividend yield	0	%

The fair value of the April 2023 Convertible Note Warrants was determined using a Black Scholes Option Pricing Model based on the following assumptions at the reclassification date:




Stock price	$0.08
Expected volatility	74.9	%
Risk-free interest rate	4.65	%
Expected term (in years)	4.49
Expected dividend yield	0	%

Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Schedule of Weighted Average Assumptions Used in Determining the Fair Value

At December 31, 2023, the fair value of the April 2023 Conversion Feature Liability related to the 2023 April Convertible Notes was valued at $0 using a Black Scholes Option Pricing Model based on the following assumptions:


	December 31,
	2023
Stock Price	$	0.18
Expected volatility		73.7	%
Risk-free interest rate		4.68	%
Expected term (in years)		0.08
Expected dividend yield		—	%

Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]