Subsequent Events

3 Months Ended

Mar. 31, 2025

Subsequent Events [Abstract]

Subsequent Events

Note 8 – Subsequent Events

Equity Financings

On April 11, 2025, we drew down an additional $3.0 million per the terms of the Series 2 Equity Financing. We issued and sold 3,000 shares of Series 2 Preferred to Streeterville for an aggregate purchase price of $3,000,000. This investment resulted in a reduction of Streeterville’s reinvestment right from $4,000,000 to $3,000,000.

Subsequent to March 31, 2025, Streeterville exercised its right to convert an additional 3,060 shares of Series 1 Preferred into 810,561 shares of Class A Common Stock.

On April 3, 2025, the Company issued Streeterville 75 shares of Series 1 Preferred in dividends and 7 shares of Series 2 Preferred in dividends.

Management’s Evaluation

Management has evaluated subsequent events to determine if events or transactions occurring after the balance sheet date through the date the financial statements were issued require potential adjustment to or disclosure in the financial statements and has concluded that all such events or transactions that would require recognition or disclosure have been recognized or disclosed.