Fair Value Measurements

9 Months Ended

12 Months Ended

Sep. 30, 2024

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Fair Value Measurements

Note 14. Fair Value Measurements

The Company’s financial instruments include cash, accounts payable, and warrant liability. Cash and warrant liability are measured at fair value. Accounts payable is measured at amortized cost and approximates fair value due to its short duration.

As of September 30, 2024, the following financial assets and liabilities were measured at fair value on a recurring basis presented on the Company’s condensed consolidated balance sheet:

	Fair Value Measurements Using
	Level 1		Level 2		Level 3		Total
Assets
Cash	$	2,473,197		-		-	$	2,473,197
Total assets measured at fair value	$	2,473,197		-		-	$	2,473,197
Liabilities
Warrant liability	$	-	$	1,027,102		-	$	1,027,102
Total liabilities measured at fair value	$	-	$	1,027,102		-	$	1,027,102

SHARPS TECHNOLOGY, INC.

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2024 AND 2023

Note 14. Fair Value Measurements (continued)

As of December 31, 2023, the following financial assets and liabilities were measured at fair value on a recurring basis presented on the Company’s condensed consolidated balance sheet:

	Fair Value Measurements Using
	Level 1		Level 2		Level 3		Total
Assets
Cash	$	3,012,908		-		-	$	3,012,908
Total assets measured at fair value	$	3,012,908		-		-	$	3,012,908
Liabilities
Warrant liability	$	-	$	2,422,785		—	$	2,422,785
Total liabilities measured at fair value	$	-	$	2,422,785		-	$	2,422,785

Note 14. Fair Value Measurements

The Company’s financial instruments include cash, accounts payable, notes payable, contingent stock and warrant liability and warrant liability. Cash, contingent stock liability, contingent warrant liability and warrant liability are measured at fair value. Accounts payable and notes payable are measured at amortized cost and approximates fair value due to their short duration and market rate for similar instruments, respectively.

SHARPS TECHNOLOGY, INC.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022

Note 14. Fair Value Measurements (continued)

As of December 31, 2023, the following financial assets and liabilities were measured at fair value on a recurring basis presented on the Company’s consolidated balance sheet:

	Fair Value Measurements Using
	Level 1		Level 2		Level 3		Total
Assets
Cash	$	3,012,908		-		-	$	3,012,908
Total assets measured at fair value	$	3,012,908		-		-	$	3,012,908
Liabilities
Warrant liability	$	-		2,422,785		-	$	2,422,785
Total liabilities measured at fair value	$	-		2,422,785		-	$	2,422,785

As of December 31, 2022, the following financial assets and liabilities were measured at fair value on a recurring basis presented on the Company’s consolidated balance sheet:

	Fair Value Measurements Using
	Level 1		Level 2		Level 3		Total
Assets
Cash	$	4,170,897		-		-	$	4,170,897
		-		-		-
Total assets measured at fair value	$	4,170,897		-			$	4,170,897
Liabilities
Warrant liability	$	1,151,838		-		-	$	1,151,838
Total liabilities measured at fair value	$	1,151,838		-		-	$	1,151,838