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DE 7372 85-3118980 435 Ericksen Ave Suite 250 Bainbridge Island WA 98110 (206) 414-1777 Joseph Davy 435 Ericksen Ave Suite 250 Bainbridge Island WA 98110 (206) 414-1777 Non-accelerated Filer true true false 2253903 1087497 74108 24210 809482 936321 757513 643674 3820898 2667492 10703 3539 8635827 3883853 21991721 18972475 61101 72565 1000 63000 140644 13984 11154 34675878 25674078 3095393 7782746 4405626 3891018 8425943 8639701 215057 2676000 4661000 3575000 3000 15000 4600 2300 361000 2324365 14850 167118 167118 4095847 3934627 24250 22731 30244142 28260148 115725 117643 1120218 10115 37414 49974 31517499 28437880 0.0001 0.0001 275000000 275000000 250000000 250000000 25000000 25000000 2478587 2478587 2247473 2247473 231114 231114 819516 819516 588402 588402 231114 231114 245 80 0.0001 0.0001 75000000 75000000 1 1 1 1 92875082 75515831 -89716948 -78279713 3158379 -2763802 34675878 25674078 3262250 1068197 6641333 2147669 554515 330008 1160514 711388 2707735 738189 5480819 1436281 7112803 4109234 14545891 8208022 300546 1261 547237 2825 7413349 4110495 15093128 8210847 -4705614 -3372306 -9612309 -6774566 -200000 2 10 -396019 -847418 -536639 -385474 -895020 -962987 145221 4488627 527980 169200 443000 171000 -837000 -837000 -1769895 8000 154000 12000 562000 230000 -2300 345000 230000 -2300 345000 19000 62000 -19000 -62000 78900 34000 238000 578000 -149885 -315791 16282 37996 80760 80760 -362613 -747137 1335377 64145 1210846 60027 3319111 576398 1982364 1465202 -8024725 -3948704 -11594673 -8239768 -230969 6624 -157438 5691 -7793756 -3955328 -11437235 -8245459 -4.08 -4.08 -14.09 -14.09 -7.24 -7.24 -30.43 -30.43 1911276 1911276 280675 280675 1578814 1578814 270940 270940 819516 80 75515831 -78279713 -2763802 507564 51 7071555 7071606 15000 2 232498 232500 3000 49800 49800 33777 3 -3 89820 9 1661668 1661677 336568 336568 -3643479 -3643479 1468677 145 84867917 -81923192 2944870 1468677 145 84867917 -81923192 2944870 757117 76 6521071 6521147 40000 4 399996 400000 104882 10 -10 43674 4 -4 64237 6 329990 329996 756122 756122 -7793756 -7793756 2478587 245 92875082 -89716948 3158379 2478587 245 92875082 -89716948 3158379 258530 26 14890169 -46766324 -31876129 1781 2540091 2540091 4468 1667000 1667000 1420 500000 500000 350 278833 278833 279 100000 100000 307 194935 194935 -200 42827 42827 -4290132 -4290132 266935 26 20213855 -51056456 -30842575 266935 26 20213855 -51056456 -30842575 10456 1 1854817 1854818 17322 2 864 866 2018 335000 335000 1200 115800 115800 1811 300000 300000 640 139837 139837 202662 202662 -3955328 -3955328 300382 30 23162565 -55011784 -31849189 300382 30 23162565 -55011784 -31849189 -11437235 -8245459 547237 2825 49898 -2191 175334 632500 200000 578000 80760 596693 658172 175517 658172 175517 68459 -1740 787470 -1740 787470 11464 87579 1092690 245488 4488627 527980 443000 171000 837000 -1769895 12000 562000 -2300 345000 -2300 345000 -62000 -62000 238000 578000 -315791 37996 -76941 -81079 113839 180343 2830 -199431 2989940 -286746 108142 162104 -123399 -11041 -152335 448476 -22274 -1918 354791 -9022726 -3812695 2677480 -2677480 215057 1200000 3640000 750000 4250000 5932690 870190 35040 5302000 2250000 866 13592753 49800 329996 1854818 12866612 2190724 1166406 -1621971 1087497 2093718 2253903 471747 97178 158518 8256 5075 278833 400000 334772 632500 200000 115800 1661677 8393172 3986464 500000 1000000 2002000 2540091 <p id="xdx_80A_eus-gaap--OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_zh7iEiMYG1T4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1. <span id="xdx_828_zNNdX2hAiK25">Organization</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>The Business</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Banzai International, Inc. (the “Company” or “Banzai”) was incorporated in Delaware on <span id="xdx_903_edei--EntityIncorporationDateOfIncorporation_c20150930__20150930_za2hOBGom6H5" title="Entity incorporation date">September 30, 2015</span>. Banzai is a leading enterprise SaaS Video Engagement platform used by marketers to power webinars, trainings, virtual events, and on-demand video content.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Reverse Stock Splits</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90B_eus-gaap--StockholdersEquityReverseStockSplit_c20250101__20250630_zjCa1arI1drd" title="Reverse stock splits description">On August 29, 2024, the Company held a special meeting of securityholders (the “Special Meeting”). At the Special Meeting, the Company’s securityholders approved the proposal to amend the Second Amended and Restated Certificate of Incorporation to effect a reverse stock split with respect to the Company’s issued and outstanding Class A Common Stock, at a ratio of up to 1-for-50, with the final ratio and exact timing to be determined at the discretion of the Board of Directors (the “2024 Reverse Stock Split”). On September 10, 2024, the Board determined to effect a reverse stock split at a ratio of 1-for-50, effective as of September 19, 2024 and filed an amendment with the Secretary of State of the State of Delaware. The Class B Common Stock was not affected by the 2024 Reverse Stock Split.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 27, 2025, the stockholders of the Company collectively approved an amendment to the Company’s Certificate of Incorporation, as amended and restated, to effect a reverse stock split (the “2025 Reverse Stock Split”) of the Company’s outstanding Class A Common Stock and Class B Common Stock at a ratio of 1-for-10 effective on July 8, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">No cash or fractional shares were issued in connection with the 2024 Reverse Stock Split and 2025 Reverse Stock Split, and instead the Company rounded up to the next whole share in lieu of issuing factional shares that would have been issued in the reverse split. Proportional adjustments were made to the number of shares of Class A Common Stock issuable upon exercise or conversion of the Company’s outstanding stock options and warrants, the exercise price or conversion price (as applicable) of the Company’s outstanding stock options and warrants, and the number of shares reserved for issuance under the Company’s equity incentive plan. All Class A Common Stock share and per share information included in this Quarterly Report on Form 10-Q has been retroactively adjusted to reflect the impact of the Reverse Stock Split.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Emerging Growth Company</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon closure of the Merger, the Company became an “emerging growth company,” as defined in Section 2(a) of the Securities Act of 1933, as amended, (the “Securities Act”), as modified by the Jumpstart our Business Startups Act of 2012, (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to public companies that are not emerging growth companies.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 102(b) (1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies are required to comply. Private companies are those companies that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act of 1934, as amended (the “Exchange Act”). The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies. Any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period, which means that when a standard is issued or revised, it adopts the new or revised standard at the time private companies adopt the new or revised standard. Therefore, the Company’s financial statements may not be comparable to certain public companies.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 2015-09-30 On August 29, 2024, the Company held a special meeting of securityholders (the “Special Meeting”). At the Special Meeting, the Company’s securityholders approved the proposal to amend the Second Amended and Restated Certificate of Incorporation to effect a reverse stock split with respect to the Company’s issued and outstanding Class A Common Stock, at a ratio of up to 1-for-50, with the final ratio and exact timing to be determined at the discretion of the Board of Directors (the “2024 Reverse Stock Split”). On September 10, 2024, the Board determined to effect a reverse stock split at a ratio of 1-for-50, effective as of September 19, 2024 and filed an amendment with the Secretary of State of the State of Delaware. The Class B Common Stock was not affected by the 2024 Reverse Stock Split. <p id="xdx_803_eus-gaap--SubstantialDoubtAboutGoingConcernTextBlock_zJkxeENRGFjl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. <span id="xdx_825_zu2pV3U5pf28">Going Concern</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of June 30, 2025 the Company had cash of approximately $<span id="xdx_902_eus-gaap--Cash_iI_pn5n6_c20250630_z4wgNrih5Ri1" title="Cash">2.3</span> million. For the six months ended June 30, 2025, the Company used approximately $<span id="xdx_901_eus-gaap--NetCashProvidedByUsedInOperatingActivities_iN_pn5n6_di_c20250101__20250630_zwNm3bi9eXn2" title="Cash flows from operating activities">9.0</span> million in cash for operating activities. The Company has incurred recurring net losses from operations and negative cash flows from operating activities since inception. As of June 30, 2025, the Company had an accumulated deficit of approximately $<span id="xdx_905_eus-gaap--RetainedEarningsAccumulatedDeficit_iNI_pn5n6_di_c20250630_zmPsbyjaMJUl" title="Accumulated deficit">89.7 </span>million. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern within one year of the date these financial statements were issued.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The continuation of the Company as a going concern is dependent upon the continued financial support from its stockholders and debt holders. Specifically, continuation is contingent on the Company’s ability to obtain necessary equity or debt financing to continue operations, and ultimately the Company’s ability to generate profit from sales and positive operating cash flows, which is not assured.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s plans include obtaining future debt financings (see <i>Note 13</i>) and equity financings associated with the Yorkville SEPA (as defined in <i>Note 16</i>)<i>.</i> If the Company is unsuccessful in completing these planned transactions, it may be required to reduce its spending rate to align with expected revenue levels and cash reserves, although there can be no guarantee that it will be successful in doing so. Accordingly, the Company may be required to raise additional cash through debt or equity transactions. It may not be able to secure financing in a timely manner or on favorable terms, if at all. As a result, management’s plans cannot be considered probable and thus do not alleviate substantial doubt about the Company’s ability to continue as a going concern.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These accompanying condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern and do not include any adjustments that might result from the outcome of this uncertainty.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 2300000 -9000000.0 -89700000 <p id="xdx_802_eus-gaap--SignificantAccountingPoliciesTextBlock_zTJnoi57VtRa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>3. <span id="xdx_826_zLeA5CGkwgn4">Summary of Significant Accounting Policies</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_849_eus-gaap--BasisOfPresentationAndSignificantAccountingPoliciesTextBlock_z4H0v3LJXaYl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86D_zrmjXZYmsPqj">Basis of Presentation</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) as determined by the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and applicable regulations of the Securities and Exchange Commission (“SEC”) for interim financial information and with the instructions to Form 10-Q of Regulation S-X. Certain information and note disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been omitted pursuant to such rules and regulations of the SEC relating to interim financial statements. The December 31, 2024 balance sheet information was derived from the audited financial statements as of that date. Except as disclosed herein, there has been no material change in the information disclosed in the notes to the consolidated financial statements for the year ended December 31, 2024 included in the Company’s Annual Report on Form 10-K, as filed with the Securities and Exchange Commission on April 15, 2025. The interim unaudited condensed consolidated financial statements should be read in conjunction with those consolidated financial statements included in the Form 10-K. In the opinion of management, all adjustments considered necessary for a fair statement of the financial statements, consisting solely of normal recurring adjustments, have been made. Operating results for the period ended June 30, 2025 are not necessarily indicative of the results that may be expected for the year ending December 31, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_848_eus-gaap--IntangibleAssetsFiniteLivedPolicy_zkkvNis2KdD" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86F_zbned199TcSl">Intangible Assets</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p id="xdx_89F_eus-gaap--ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock_zokRB4OQkvC5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Intangible assets are presented at fair value, net of amortization. The fair value is determined based on the appraised value of the asset. Intangible assets are composed of developed technology, trade names and customer lists. Intangible assets subject to amortization consist of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B2_zxZQaLXLWYZ4">Schedule of Identifiable Intangible Assets Subject to Amortization </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center">Estimated Useful Life (years):</td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_495_20250630_zkWo2VwLjd74" style="font-weight: bold; text-align: center">June 30, 2025</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_z2ogSeRAOxf8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Customer relationships</td><td style="width: 2%"> </td> <td style="width: 16%; text-align: center"><span id="xdx_90A_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20250101__20250630__srt--RangeAxis__srt--MinimumMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_z9oIPzDOCA71" title="Estimated useful Life">6</span> - <span id="xdx_90E_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20250101__20250630__srt--RangeAxis__srt--MaximumMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_z7iTQVUZGRa4" title="Estimated useful Life">7</span></td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">1,139,710</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zgGjUcHdsve7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Trade name</td><td> </td> <td style="text-align: center"><span id="xdx_902_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20250101__20250630__srt--RangeAxis__srt--MinimumMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zW8VJuZhDPu8" title="Estimated useful Life">10</span> - <span id="xdx_903_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20250101__20250630__srt--RangeAxis__srt--MaximumMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zzZMNM3N3yXe" title="Estimated useful Life">15</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,635,600</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember_z73JADnV58a6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Technology</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"><span id="xdx_901_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20250101__20250630__srt--RangeAxis__srt--MinimumMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember_zvQmumQzmt33" title="Estimated useful Life">6</span> - <span id="xdx_908_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20250101__20250630__srt--RangeAxis__srt--MaximumMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember_z9bFSIveUSBb" title="Estimated useful Life">8</span></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,425,010</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_maFLIANz4Kp_z05qZtkLvJOl" style="vertical-align: bottom; background-color: White"> <td><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> Intangible assets, gross</span></td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,200,320</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_msFLIANz4Kp_zdIX6A0gSmjj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: Accumulated amortization</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(564,493</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_mtFLIANz4Kp_z0c9ILXaZtS6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Intangible assets, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">8,635,827</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AB_zVV43KsulqW1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_899_eus-gaap--ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_zHkHxEK6JzL6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total amortization expense related to intangible assets was $<span id="xdx_901_eus-gaap--AmortizationOfIntangibleAssets_c20250101__20250630_zCAhqI34I9C7" title="Amortization expense">545,026</span> for the six months ended June 30, 2025. Expected amortization expense is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B8_z0qXUroCCiqe" style="display: none">Schedule of Expected Amortization Expense</span> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_495_20250630_zC9lI6WCtYna" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear_iI_zy88b1euuMjl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Remainder of Year Ending December 31, 2025</span></td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">614,199</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_iI_z1ZlzpTatMga" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Year Ending December 31, 2026</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,214,920</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_iI_zccKxIXteol4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Year Ending December 31, 2027</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,214,920</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_iI_zvI9L8whpTwf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Year Ending December 31, 2028</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,214,920</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_iI_z7HL7f3xZEWl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Year Ending December 31, 2029</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,214,920</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour_iI_z3ztGZg1OBU4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Thereafter</span></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,161,948</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_zrQBH551x9J1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</span></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">8,635,827</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AE_zReaTBj1ILP5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company periodically evaluates its long-lived assets for potential impairment in accordance with ASC Topic 360, Property, Plant and Equipment <i>(</i>“<i>ASC 360</i>”). Potential impairment is assessed when there is evidence that events or changes in circumstances indicate that the carrying amount of an asset may not be recovered. The recoverability of these assets is assessed based on undiscounted expected future cash flows from the assets, considering a number of factors, including past operating results, budgets and economic projections, </span>market trends and product development cycles. If impairments are identified, assets are written down to their estimated fair value. The Company has not recognized any impairment charges through June 30, 2025.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p id="xdx_849_ecustom--WarrantLiabilitiesPolicyTextBlock_zM912GEqAxk1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_868_ziwYDYzGRda4">Warrant Liabilities</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company does not use derivative instruments to hedge exposures to cash flow, market, or foreign currency risks. The Company evaluates all of its financial instruments, including issued stock purchase warrants, to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is re-assessed at the end of each reporting period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Warrant Liability - related party</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The warrants originally issued in 7GC’s initial public offering (the “Public Warrants”) are recognized as derivative liabilities in accordance with ASC 815. Accordingly, the Company recognizes the warrant instruments as liabilities at fair value and adjusts the instruments to fair value at each reporting period. The liabilities are subject to re-measurement at each balance sheet date until exercise or expiration, and any change in fair value is recognized in the Company’s consolidated statements of operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Public Warrants were initially measured at fair value using a Monte Carlo simulation model and have subsequently been measured based on the listed market price of such warrants. Warrant liabilities are classified as current liabilities on the Company’s consolidated balance sheets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Warrant Liability</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The GEM Warrants were not considered indexed to the issuer’s stock pursuant to ASC 815, as the holder’s ability to receive in lieu of the Warrant one percent of the total consideration received by the Company’s stockholders in connection with a Change of Control, where the surviving corporation is not publicly traded, adjusts the settlement value based on items outside the Company’s control in violation of the fixed-for-fixed option pricing model. As such, the Company recorded the Warrants as liabilities initially measured at fair value with subsequent changes in fair value recognized in earnings each reporting period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The measurement of fair value was determined utilizing a Monte Carlo simulation considering all relevant assumptions current at the date of issuance (i.e., share price, exercise price, term, volatility, risk-free rate, probability of dilutive term of three years, and expected time to conversion).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84D_eus-gaap--EarningsPerSharePolicyTextBlock_z8NF92MRLsfg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_862_zGW4PIehjluh">Loss Per Share</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic loss per share of common stock is computed by dividing net loss attributable to common stockholders by the weighted average number of shares of common stock outstanding and pre-funded warrants outstanding during the period. Diluted net loss per share excludes, when applicable, the potential impact of stock options and convertible preferred stock because their effect would be anti-dilutive due to the net loss. Since the Company had a net loss in each of the periods presented, basic and diluted net loss per common share are the same.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89E_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zhvcnsmrDgb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The calculation of basic and diluted net loss per share attributable to common stock was as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B7_zrGSAtaetSLj"> Schedule of Basic and Diluted Net Loss Per Share</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Three Months Ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Six Months Ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Numerator:</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 44%; text-align: left">Net loss attributable to common shareholders—basic and diluted</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right"><span id="xdx_90C_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20250401__20250630_zmkRhNOUAjZ9" title="Net loss attributable to common shareholders basic"><span id="xdx_901_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20250401__20250630_zb9lWDpairP7" title="Net loss attributable to common shareholders diluted">(7,793,756</span></span></td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right"><span id="xdx_905_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20240401__20240630_zkMp9VHBNbyb" title="Net loss attributable to common shareholders basic"><span id="xdx_904_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20240401__20240630_zfR47a0v4ht2" title="Net loss attributable to common shareholders diluted">(3,955,328</span></span></td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right"><span id="xdx_907_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20250101__20250630_zB8L16oqTDMd" title="Net loss attributable to common shareholders basic"><span id="xdx_903_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20250101__20250630_zijA95HWGiJf" title="Net loss attributable to common shareholders diluted">(11,437,235</span></span></td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right"><span id="xdx_901_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20240101__20240630_zhU0xnUTqLye" title="Net loss attributable to common shareholders basic"><span id="xdx_908_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20240101__20240630_z5OP53d14sY" title="Net loss attributable to common shareholders diluted">(8,245,459</span></span></td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Weighted average shares—basic and diluted</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20250401__20250630_zKwoakHozyDe" title="Weighted average shares basic"><span id="xdx_900_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20250401__20250630_z4SWyehiCxr5" title="Weighted average shares diluted">1,911,276</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20240401__20240630_z3W4onyWqrO3" title="Weighted average shares basic"><span id="xdx_907_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20240401__20240630_zQpige4M0J1j" title="Weighted average shares diluted">280,675</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20250101__20250630_zJeClzyEUupg" title="Weighted average shares basic"><span id="xdx_901_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20250101__20250630_zgXm0rX4oA1c" title="Weighted average shares diluted">1,578,814</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20240101__20240630_z0XnPhaLfRSa" title="Weighted average shares basic"><span id="xdx_90D_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20240101__20240630_z5bhvuiUXWF8" title="Weighted average shares diluted">270,940</span></span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net loss per share attributable to common shareholders—basic and diluted</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_90D_eus-gaap--EarningsPerShareBasic_c20250401__20250630_zggiY03GPCPc" title="Net loss per share attributable to common shareholders basic"><span id="xdx_90B_eus-gaap--EarningsPerShareDiluted_c20250401__20250630_zsjo7e3vxAgf" title="Net loss per share attributable to common shareholders diluted">(4.08</span></span></td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_903_eus-gaap--EarningsPerShareBasic_c20240401__20240630_z3MgDnmdpin9" title="Net loss per share attributable to common shareholders basic"><span id="xdx_908_eus-gaap--EarningsPerShareDiluted_c20240401__20240630_zLScFlyhIqSe" title="Net loss per share attributable to common shareholders diluted">(14.09</span></span></td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_907_eus-gaap--EarningsPerShareBasic_c20250101__20250630_zJhXpkW7WXw4" title="Net loss per share attributable to common shareholders basic"><span id="xdx_905_eus-gaap--EarningsPerShareDiluted_c20250101__20250630_zcava3ZEdZg6" title="Net loss per share attributable to common shareholders diluted">(7.24</span></span></td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_90D_eus-gaap--EarningsPerShareBasic_c20240101__20240630_zxupqEje1jse" title="Net loss per share attributable to common shareholders basic"><span id="xdx_908_eus-gaap--EarningsPerShareDiluted_c20240101__20240630_zf8JNTKeUFeh" title="Net loss per share attributable to common shareholders diluted">(30.43</span></span></td><td style="text-align: left">)</td></tr> </table> <p id="xdx_8A9_zjOUfCKnY4gc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The above weighted average share numbers for the three and six months ended June 30, 2025, include <span id="xdx_90E_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20250401__20250630__us-gaap--StatementEquityComponentsAxis__custom--PreFundedWarrantsMember_zdj8BPEriJJa" title="Basic"><span id="xdx_90D_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20250101__20250630__us-gaap--StatementEquityComponentsAxis__custom--PreFundedWarrantsMember_z30Jwpu4EXod" title="Basic">23,302</span></span> prefunded warrants which were outstanding throughout the period. <span id="xdx_907_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_do_c20240101__20240630__us-gaap--StatementEquityComponentsAxis__custom--PreFundedWarrantsMember_zwmlMBBlO99k" title="Basic">No</span> such prefunded warrants were outstanding during the comparative six month period ended June 30, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_893_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_zVUYeLBRBN2b" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Securities that were excluded from loss per share as their effect would be anti-dilutive due to the net loss position that could potentially be dilutive in future periods are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BA_zaTWBm7iX8Gf" style="display: none"> Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20250101__20250630_zmohwCGPVNP7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20240101__20240630_zfevyDwl3CS1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zRaI2D5QYJR7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Options</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">12,542</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">3,365</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RestrictedStockUnitsRSUMember_ziqL0uFvh33" style="vertical-align: bottom; background-color: White"> <td>RSUs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">216,396</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,756</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--PublicWarrantSharesMember_zZ9XjhJ9pxI5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Public warrant shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">23,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">23,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--GEMWarrantSharesMember_zpnziCRhdlJl" style="vertical-align: bottom; background-color: White"> <td>GEM warrant shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,657</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,657</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--CommonWarrantSharesMember_z4Z0sPWui85j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Common warrant shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">560,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27,778</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--PlacementAgentWarrantSharesMember_zrX9nbXcei12" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Placement agent warrant shares</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">31,702</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,667</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_iT_zX1ByidWN2q8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">845,297</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">59,223</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A8_za40gg7gQPT7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> </p> <p id="xdx_840_eus-gaap--DerivativesPolicyTextBlock_zxtXwK4VDESi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_866_zeX8x9aRhMbl">Derivative Financial Instruments</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company evaluates all its financial instruments to determine if such instruments contain features that qualify as embedded derivatives. Embedded derivatives must be separately measured from the host contract if all the requirements for bifurcation are met. The assessment of the conditions surrounding the bifurcation of embedded derivatives depends on the nature of the host contract. Bifurcated embedded derivatives are recognized at fair value, with changes in fair value recognized in the statement of operations each period. Bifurcated embedded derivatives are classified with the related host contract in the Company’s balance sheet. Refer to <i>Note 7 - Fair Value Measurements</i> and <i>Note 13 - Debt</i> for further detail.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_845_ecustom--BridgeNotesAndPrivatePlacementConvertibleNotes_zq1z54OD5N5b" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_862_z1G7vmAdQPc7">Bridge Notes and Private Placement Convertible Notes - Fair Value Option Election</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company determined the Agile Notes and 1800 Diagonal Notes (The “Bridge Notes”) and the Private Placement Convertible Notes (as defined in <i>Note 13</i>) were eligible for the fair value option, in accordance with ASC 825-10-50-28, and made such election to account for the Bridge Notes and Private Placement Convertible Notes at fair value. The fair value option may be elected on an instrument-by-instrument basis and is irrevocable unless a new election date occurs. Additional term or other notes may be issued in subsequent periods where the Company would be able to make a fair value option election upon issuance provided eligibility criteria are met. The Company records the portion of the Bridge Notes and Private Placement Convertible Notes that are issued and outstanding for accounting purposes at fair value with changes in fair value recorded in other income (expense), net in the condensed consolidated statement of operations, except for the portion of the total change in fair value that results from a change in the instrument-specific credit risk of the Bridge Notes and Private Placement Convertible Notes, which is recorded in other comprehensive income (loss), if applicable. The fair value option election was made to align the accounting for the Bridge Notes and Private Placement Convertible Notes with the Company’s financial reporting objectives and reduce operational effort to account for embedded features that otherwise would require bifurcation as a separate unit of account.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to the fair value option election, direct and incremental debt issuance costs and consideration paid to the lender related to the Bridge Notes and Private Placement Convertible Notes were expensed as incurred and recorded in other income (expense), net in the condensed consolidated statements of operations. Measurement of the change in fair value of the Bridge Notes and Private Placement Convertible Notes includes accrued interest, whether paid-in-kind or cash.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_840_eus-gaap--FairValueOfFinancialInstrumentsPolicy_zWu6qchJKovi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_866_zkp0lJYqCP5g">Fair Value of Financial Instruments</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In accordance with FASB ASC 820 <i>Fair Value Measurements and Disclosures</i>, the Company uses a three-level hierarchy for fair value measurements of certain assets and liabilities for financial reporting purposes that distinguishes between market participant assumptions developed from market data obtained from outside sources (observable inputs) and the Company’s own assumptions about market participant assumptions developed from the best information available to us in the circumstances (unobservable inputs). The fair value hierarchy is divided into three levels based on the source of inputs as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 1: Quoted prices in active markets for identical assets or liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2: Inputs other than Level 1 prices for similar assets or liabilities that are directly or indirectly observable in the marketplace.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 3: Unobservable inputs which are supported by little or no market activity and values determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant judgment or estimation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The fair value measurements discussed herein are based upon certain market assumptions and pertinent information available to management during the three and six months ended June 30, 2025 and 2024. The carrying amount of cash, accounts receivable, prepaid expenses and other current assets, accounts payable, accrued expenses, deferred revenue, and other current liabilities approximated their fair values as of June 30, 2025 and December 31, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_846_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zKTZDn7b7hj9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86D_zdwLwsqliPAf">Recent Accounting Pronouncements</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Recent accounting pronouncements not yet effective</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In December 2023, the FASB issued ASU 2023-09, <i>Income Taxes (Topic 740), Improvements to income tax disclosures</i>, which enhances the disclosure requirements for the income tax rate reconciliation, domestic and foreign income taxes paid, requiring disclosure of disaggregated income taxes paid by jurisdiction, unrecognized tax benefits, and modifies other income tax-related disclosures. The amendments are effective for annual periods beginning after December 15, 2024. Early adoption is permitted and should be applied prospectively. The Company is currently evaluating the effect of adopting this guidance on its consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In November 2024, the FASB issued ASU No. 2024-03, <i>Disaggregation of Income Statement Expenses (Subtopic 220-40)</i>. The ASU requires the disaggregated disclosure of specific expense categories, including purchases of inventory, employee compensation, depreciation, and amortization included in each relevant expense caption presented on the statement of operations. The guidance also requires disclosure of a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively, as well as the total amount of selling expenses and an entity’s definition of selling expenses. This guidance is effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027. Early adoption of the amendment is permitted. The Company is currently evaluating the guidance and its impact to its consolidated financial statements and related disclosures.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In July 2025, The Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2025-05, “Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets”, which provides a practical expedient to measure credit losses on accounts receivable and contract assets. This guidance is effective for periods beginning after December 15, 2025 and will be adopted prospectively. Early adoption is permitted. The Company is currently evaluating the impact of this guidance on our consolidated financial statements and related disclosures.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Recently adopted accounting pronouncements</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In November 2023, the FASB issued ASU 2023-07, <i>Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures</i>. The amendments improve reportable segment disclosure requirements through enhanced disclosures over significant segment expenses regularly provided to the Chief Operating Decision Maker (“CODM”), extending certain annual disclosures to interim periods, and through permitting more than one measure of segment profit or loss to be reported under certain conditions. The Company adopted this guidance effective December 31, 2024, on a retrospective basis. Refer to <i>Note 19</i> for further information.</span></p> <p id="xdx_852_zqGQrLnCSEz5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_849_eus-gaap--BasisOfPresentationAndSignificantAccountingPoliciesTextBlock_z4H0v3LJXaYl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86D_zrmjXZYmsPqj">Basis of Presentation</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) as determined by the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and applicable regulations of the Securities and Exchange Commission (“SEC”) for interim financial information and with the instructions to Form 10-Q of Regulation S-X. Certain information and note disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been omitted pursuant to such rules and regulations of the SEC relating to interim financial statements. The December 31, 2024 balance sheet information was derived from the audited financial statements as of that date. Except as disclosed herein, there has been no material change in the information disclosed in the notes to the consolidated financial statements for the year ended December 31, 2024 included in the Company’s Annual Report on Form 10-K, as filed with the Securities and Exchange Commission on April 15, 2025. The interim unaudited condensed consolidated financial statements should be read in conjunction with those consolidated financial statements included in the Form 10-K. In the opinion of management, all adjustments considered necessary for a fair statement of the financial statements, consisting solely of normal recurring adjustments, have been made. Operating results for the period ended June 30, 2025 are not necessarily indicative of the results that may be expected for the year ending December 31, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_848_eus-gaap--IntangibleAssetsFiniteLivedPolicy_zkkvNis2KdD" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86F_zbned199TcSl">Intangible Assets</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p id="xdx_89F_eus-gaap--ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock_zokRB4OQkvC5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Intangible assets are presented at fair value, net of amortization. The fair value is determined based on the appraised value of the asset. Intangible assets are composed of developed technology, trade names and customer lists. Intangible assets subject to amortization consist of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B2_zxZQaLXLWYZ4">Schedule of Identifiable Intangible Assets Subject to Amortization </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center">Estimated Useful Life (years):</td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_495_20250630_zkWo2VwLjd74" style="font-weight: bold; text-align: center">June 30, 2025</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_z2ogSeRAOxf8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Customer relationships</td><td style="width: 2%"> </td> <td style="width: 16%; text-align: center"><span id="xdx_90A_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20250101__20250630__srt--RangeAxis__srt--MinimumMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_z9oIPzDOCA71" title="Estimated useful Life">6</span> - <span id="xdx_90E_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20250101__20250630__srt--RangeAxis__srt--MaximumMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_z7iTQVUZGRa4" title="Estimated useful Life">7</span></td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">1,139,710</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zgGjUcHdsve7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Trade name</td><td> </td> <td style="text-align: center"><span id="xdx_902_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20250101__20250630__srt--RangeAxis__srt--MinimumMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zW8VJuZhDPu8" title="Estimated useful Life">10</span> - <span id="xdx_903_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20250101__20250630__srt--RangeAxis__srt--MaximumMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zzZMNM3N3yXe" title="Estimated useful Life">15</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,635,600</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember_z73JADnV58a6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Technology</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"><span id="xdx_901_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20250101__20250630__srt--RangeAxis__srt--MinimumMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember_zvQmumQzmt33" title="Estimated useful Life">6</span> - <span id="xdx_908_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20250101__20250630__srt--RangeAxis__srt--MaximumMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember_z9bFSIveUSBb" title="Estimated useful Life">8</span></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,425,010</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_maFLIANz4Kp_z05qZtkLvJOl" style="vertical-align: bottom; background-color: White"> <td><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> Intangible assets, gross</span></td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,200,320</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_msFLIANz4Kp_zdIX6A0gSmjj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: Accumulated amortization</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(564,493</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_mtFLIANz4Kp_z0c9ILXaZtS6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Intangible assets, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">8,635,827</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AB_zVV43KsulqW1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_899_eus-gaap--ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_zHkHxEK6JzL6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total amortization expense related to intangible assets was $<span id="xdx_901_eus-gaap--AmortizationOfIntangibleAssets_c20250101__20250630_zCAhqI34I9C7" title="Amortization expense">545,026</span> for the six months ended June 30, 2025. Expected amortization expense is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B8_z0qXUroCCiqe" style="display: none">Schedule of Expected Amortization Expense</span> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_495_20250630_zC9lI6WCtYna" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear_iI_zy88b1euuMjl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Remainder of Year Ending December 31, 2025</span></td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">614,199</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_iI_z1ZlzpTatMga" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Year Ending December 31, 2026</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,214,920</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_iI_zccKxIXteol4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Year Ending December 31, 2027</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,214,920</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_iI_zvI9L8whpTwf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Year Ending December 31, 2028</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,214,920</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_iI_z7HL7f3xZEWl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Year Ending December 31, 2029</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,214,920</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour_iI_z3ztGZg1OBU4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Thereafter</span></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,161,948</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_zrQBH551x9J1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</span></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">8,635,827</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AE_zReaTBj1ILP5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company periodically evaluates its long-lived assets for potential impairment in accordance with ASC Topic 360, Property, Plant and Equipment <i>(</i>“<i>ASC 360</i>”). Potential impairment is assessed when there is evidence that events or changes in circumstances indicate that the carrying amount of an asset may not be recovered. The recoverability of these assets is assessed based on undiscounted expected future cash flows from the assets, considering a number of factors, including past operating results, budgets and economic projections, </span>market trends and product development cycles. If impairments are identified, assets are written down to their estimated fair value. The Company has not recognized any impairment charges through June 30, 2025.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p id="xdx_89F_eus-gaap--ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock_zokRB4OQkvC5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Intangible assets are presented at fair value, net of amortization. The fair value is determined based on the appraised value of the asset. Intangible assets are composed of developed technology, trade names and customer lists. Intangible assets subject to amortization consist of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B2_zxZQaLXLWYZ4">Schedule of Identifiable Intangible Assets Subject to Amortization </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center">Estimated Useful Life (years):</td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_495_20250630_zkWo2VwLjd74" style="font-weight: bold; text-align: center">June 30, 2025</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_z2ogSeRAOxf8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Customer relationships</td><td style="width: 2%"> </td> <td style="width: 16%; text-align: center"><span id="xdx_90A_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20250101__20250630__srt--RangeAxis__srt--MinimumMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_z9oIPzDOCA71" title="Estimated useful Life">6</span> - <span id="xdx_90E_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20250101__20250630__srt--RangeAxis__srt--MaximumMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_z7iTQVUZGRa4" title="Estimated useful Life">7</span></td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">1,139,710</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zgGjUcHdsve7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Trade name</td><td> </td> <td style="text-align: center"><span id="xdx_902_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20250101__20250630__srt--RangeAxis__srt--MinimumMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zW8VJuZhDPu8" title="Estimated useful Life">10</span> - <span id="xdx_903_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20250101__20250630__srt--RangeAxis__srt--MaximumMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zzZMNM3N3yXe" title="Estimated useful Life">15</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,635,600</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember_z73JADnV58a6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Technology</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"><span id="xdx_901_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20250101__20250630__srt--RangeAxis__srt--MinimumMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember_zvQmumQzmt33" title="Estimated useful Life">6</span> - <span id="xdx_908_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20250101__20250630__srt--RangeAxis__srt--MaximumMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember_z9bFSIveUSBb" title="Estimated useful Life">8</span></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,425,010</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_maFLIANz4Kp_z05qZtkLvJOl" style="vertical-align: bottom; background-color: White"> <td><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> Intangible assets, gross</span></td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,200,320</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_msFLIANz4Kp_zdIX6A0gSmjj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: Accumulated amortization</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(564,493</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_mtFLIANz4Kp_z0c9ILXaZtS6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Intangible assets, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">8,635,827</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> P6Y P7Y 1139710 P10Y P15Y 1635600 P6Y P8Y 6425010 9200320 -564493 8635827 <p id="xdx_899_eus-gaap--ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_zHkHxEK6JzL6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total amortization expense related to intangible assets was $<span id="xdx_901_eus-gaap--AmortizationOfIntangibleAssets_c20250101__20250630_zCAhqI34I9C7" title="Amortization expense">545,026</span> for the six months ended June 30, 2025. Expected amortization expense is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B8_z0qXUroCCiqe" style="display: none">Schedule of Expected Amortization Expense</span> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_495_20250630_zC9lI6WCtYna" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear_iI_zy88b1euuMjl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Remainder of Year Ending December 31, 2025</span></td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">614,199</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_iI_z1ZlzpTatMga" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Year Ending December 31, 2026</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,214,920</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_iI_zccKxIXteol4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Year Ending December 31, 2027</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,214,920</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_iI_zvI9L8whpTwf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Year Ending December 31, 2028</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,214,920</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_iI_z7HL7f3xZEWl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Year Ending December 31, 2029</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,214,920</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour_iI_z3ztGZg1OBU4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Thereafter</span></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,161,948</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_zrQBH551x9J1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</span></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">8,635,827</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 545026 614199 1214920 1214920 1214920 1214920 3161948 8635827 <p id="xdx_849_ecustom--WarrantLiabilitiesPolicyTextBlock_zM912GEqAxk1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_868_ziwYDYzGRda4">Warrant Liabilities</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company does not use derivative instruments to hedge exposures to cash flow, market, or foreign currency risks. The Company evaluates all of its financial instruments, including issued stock purchase warrants, to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is re-assessed at the end of each reporting period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Warrant Liability - related party</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The warrants originally issued in 7GC’s initial public offering (the “Public Warrants”) are recognized as derivative liabilities in accordance with ASC 815. Accordingly, the Company recognizes the warrant instruments as liabilities at fair value and adjusts the instruments to fair value at each reporting period. The liabilities are subject to re-measurement at each balance sheet date until exercise or expiration, and any change in fair value is recognized in the Company’s consolidated statements of operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Public Warrants were initially measured at fair value using a Monte Carlo simulation model and have subsequently been measured based on the listed market price of such warrants. Warrant liabilities are classified as current liabilities on the Company’s consolidated balance sheets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Warrant Liability</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The GEM Warrants were not considered indexed to the issuer’s stock pursuant to ASC 815, as the holder’s ability to receive in lieu of the Warrant one percent of the total consideration received by the Company’s stockholders in connection with a Change of Control, where the surviving corporation is not publicly traded, adjusts the settlement value based on items outside the Company’s control in violation of the fixed-for-fixed option pricing model. As such, the Company recorded the Warrants as liabilities initially measured at fair value with subsequent changes in fair value recognized in earnings each reporting period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The measurement of fair value was determined utilizing a Monte Carlo simulation considering all relevant assumptions current at the date of issuance (i.e., share price, exercise price, term, volatility, risk-free rate, probability of dilutive term of three years, and expected time to conversion).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84D_eus-gaap--EarningsPerSharePolicyTextBlock_z8NF92MRLsfg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_862_zGW4PIehjluh">Loss Per Share</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic loss per share of common stock is computed by dividing net loss attributable to common stockholders by the weighted average number of shares of common stock outstanding and pre-funded warrants outstanding during the period. Diluted net loss per share excludes, when applicable, the potential impact of stock options and convertible preferred stock because their effect would be anti-dilutive due to the net loss. Since the Company had a net loss in each of the periods presented, basic and diluted net loss per common share are the same.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89E_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zhvcnsmrDgb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The calculation of basic and diluted net loss per share attributable to common stock was as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B7_zrGSAtaetSLj"> Schedule of Basic and Diluted Net Loss Per Share</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Three Months Ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Six Months Ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Numerator:</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 44%; text-align: left">Net loss attributable to common shareholders—basic and diluted</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right"><span id="xdx_90C_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20250401__20250630_zmkRhNOUAjZ9" title="Net loss attributable to common shareholders basic"><span id="xdx_901_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20250401__20250630_zb9lWDpairP7" title="Net loss attributable to common shareholders diluted">(7,793,756</span></span></td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right"><span id="xdx_905_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20240401__20240630_zkMp9VHBNbyb" title="Net loss attributable to common shareholders basic"><span id="xdx_904_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20240401__20240630_zfR47a0v4ht2" title="Net loss attributable to common shareholders diluted">(3,955,328</span></span></td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right"><span id="xdx_907_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20250101__20250630_zB8L16oqTDMd" title="Net loss attributable to common shareholders basic"><span id="xdx_903_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20250101__20250630_zijA95HWGiJf" title="Net loss attributable to common shareholders diluted">(11,437,235</span></span></td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right"><span id="xdx_901_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20240101__20240630_zhU0xnUTqLye" title="Net loss attributable to common shareholders basic"><span id="xdx_908_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20240101__20240630_z5OP53d14sY" title="Net loss attributable to common shareholders diluted">(8,245,459</span></span></td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Weighted average shares—basic and diluted</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20250401__20250630_zKwoakHozyDe" title="Weighted average shares basic"><span id="xdx_900_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20250401__20250630_z4SWyehiCxr5" title="Weighted average shares diluted">1,911,276</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20240401__20240630_z3W4onyWqrO3" title="Weighted average shares basic"><span id="xdx_907_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20240401__20240630_zQpige4M0J1j" title="Weighted average shares diluted">280,675</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20250101__20250630_zJeClzyEUupg" title="Weighted average shares basic"><span id="xdx_901_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20250101__20250630_zgXm0rX4oA1c" title="Weighted average shares diluted">1,578,814</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20240101__20240630_z0XnPhaLfRSa" title="Weighted average shares basic"><span id="xdx_90D_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20240101__20240630_z5bhvuiUXWF8" title="Weighted average shares diluted">270,940</span></span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net loss per share attributable to common shareholders—basic and diluted</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_90D_eus-gaap--EarningsPerShareBasic_c20250401__20250630_zggiY03GPCPc" title="Net loss per share attributable to common shareholders basic"><span id="xdx_90B_eus-gaap--EarningsPerShareDiluted_c20250401__20250630_zsjo7e3vxAgf" title="Net loss per share attributable to common shareholders diluted">(4.08</span></span></td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_903_eus-gaap--EarningsPerShareBasic_c20240401__20240630_z3MgDnmdpin9" title="Net loss per share attributable to common shareholders basic"><span id="xdx_908_eus-gaap--EarningsPerShareDiluted_c20240401__20240630_zLScFlyhIqSe" title="Net loss per share attributable to common shareholders diluted">(14.09</span></span></td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_907_eus-gaap--EarningsPerShareBasic_c20250101__20250630_zJhXpkW7WXw4" title="Net loss per share attributable to common shareholders basic"><span id="xdx_905_eus-gaap--EarningsPerShareDiluted_c20250101__20250630_zcava3ZEdZg6" title="Net loss per share attributable to common shareholders diluted">(7.24</span></span></td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_90D_eus-gaap--EarningsPerShareBasic_c20240101__20240630_zxupqEje1jse" title="Net loss per share attributable to common shareholders basic"><span id="xdx_908_eus-gaap--EarningsPerShareDiluted_c20240101__20240630_zf8JNTKeUFeh" title="Net loss per share attributable to common shareholders diluted">(30.43</span></span></td><td style="text-align: left">)</td></tr> </table> <p id="xdx_8A9_zjOUfCKnY4gc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The above weighted average share numbers for the three and six months ended June 30, 2025, include <span id="xdx_90E_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20250401__20250630__us-gaap--StatementEquityComponentsAxis__custom--PreFundedWarrantsMember_zdj8BPEriJJa" title="Basic"><span id="xdx_90D_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20250101__20250630__us-gaap--StatementEquityComponentsAxis__custom--PreFundedWarrantsMember_z30Jwpu4EXod" title="Basic">23,302</span></span> prefunded warrants which were outstanding throughout the period. <span id="xdx_907_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_do_c20240101__20240630__us-gaap--StatementEquityComponentsAxis__custom--PreFundedWarrantsMember_zwmlMBBlO99k" title="Basic">No</span> such prefunded warrants were outstanding during the comparative six month period ended June 30, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_893_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_zVUYeLBRBN2b" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Securities that were excluded from loss per share as their effect would be anti-dilutive due to the net loss position that could potentially be dilutive in future periods are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BA_zaTWBm7iX8Gf" style="display: none"> Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20250101__20250630_zmohwCGPVNP7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20240101__20240630_zfevyDwl3CS1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zRaI2D5QYJR7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Options</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">12,542</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">3,365</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RestrictedStockUnitsRSUMember_ziqL0uFvh33" style="vertical-align: bottom; background-color: White"> <td>RSUs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">216,396</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,756</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--PublicWarrantSharesMember_zZ9XjhJ9pxI5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Public warrant shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">23,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">23,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--GEMWarrantSharesMember_zpnziCRhdlJl" style="vertical-align: bottom; background-color: White"> <td>GEM warrant shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,657</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,657</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--CommonWarrantSharesMember_z4Z0sPWui85j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Common warrant shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">560,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27,778</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--PlacementAgentWarrantSharesMember_zrX9nbXcei12" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Placement agent warrant shares</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">31,702</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,667</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_iT_zX1ByidWN2q8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">845,297</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">59,223</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A8_za40gg7gQPT7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> </p> <p id="xdx_89E_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zhvcnsmrDgb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The calculation of basic and diluted net loss per share attributable to common stock was as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B7_zrGSAtaetSLj"> Schedule of Basic and Diluted Net Loss Per Share</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Three Months Ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Six Months Ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Numerator:</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 44%; text-align: left">Net loss attributable to common shareholders—basic and diluted</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right"><span id="xdx_90C_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20250401__20250630_zmkRhNOUAjZ9" title="Net loss attributable to common shareholders basic"><span id="xdx_901_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20250401__20250630_zb9lWDpairP7" title="Net loss attributable to common shareholders diluted">(7,793,756</span></span></td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right"><span id="xdx_905_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20240401__20240630_zkMp9VHBNbyb" title="Net loss attributable to common shareholders basic"><span id="xdx_904_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20240401__20240630_zfR47a0v4ht2" title="Net loss attributable to common shareholders diluted">(3,955,328</span></span></td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right"><span id="xdx_907_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20250101__20250630_zB8L16oqTDMd" title="Net loss attributable to common shareholders basic"><span id="xdx_903_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20250101__20250630_zijA95HWGiJf" title="Net loss attributable to common shareholders diluted">(11,437,235</span></span></td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right"><span id="xdx_901_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20240101__20240630_zhU0xnUTqLye" title="Net loss attributable to common shareholders basic"><span id="xdx_908_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20240101__20240630_z5OP53d14sY" title="Net loss attributable to common shareholders diluted">(8,245,459</span></span></td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Weighted average shares—basic and diluted</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20250401__20250630_zKwoakHozyDe" title="Weighted average shares basic"><span id="xdx_900_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20250401__20250630_z4SWyehiCxr5" title="Weighted average shares diluted">1,911,276</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20240401__20240630_z3W4onyWqrO3" title="Weighted average shares basic"><span id="xdx_907_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20240401__20240630_zQpige4M0J1j" title="Weighted average shares diluted">280,675</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20250101__20250630_zJeClzyEUupg" title="Weighted average shares basic"><span id="xdx_901_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20250101__20250630_zgXm0rX4oA1c" title="Weighted average shares diluted">1,578,814</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20240101__20240630_z0XnPhaLfRSa" title="Weighted average shares basic"><span id="xdx_90D_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20240101__20240630_z5bhvuiUXWF8" title="Weighted average shares diluted">270,940</span></span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net loss per share attributable to common shareholders—basic and diluted</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_90D_eus-gaap--EarningsPerShareBasic_c20250401__20250630_zggiY03GPCPc" title="Net loss per share attributable to common shareholders basic"><span id="xdx_90B_eus-gaap--EarningsPerShareDiluted_c20250401__20250630_zsjo7e3vxAgf" title="Net loss per share attributable to common shareholders diluted">(4.08</span></span></td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_903_eus-gaap--EarningsPerShareBasic_c20240401__20240630_z3MgDnmdpin9" title="Net loss per share attributable to common shareholders basic"><span id="xdx_908_eus-gaap--EarningsPerShareDiluted_c20240401__20240630_zLScFlyhIqSe" title="Net loss per share attributable to common shareholders diluted">(14.09</span></span></td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_907_eus-gaap--EarningsPerShareBasic_c20250101__20250630_zJhXpkW7WXw4" title="Net loss per share attributable to common shareholders basic"><span id="xdx_905_eus-gaap--EarningsPerShareDiluted_c20250101__20250630_zcava3ZEdZg6" title="Net loss per share attributable to common shareholders diluted">(7.24</span></span></td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_90D_eus-gaap--EarningsPerShareBasic_c20240101__20240630_zxupqEje1jse" title="Net loss per share attributable to common shareholders basic"><span id="xdx_908_eus-gaap--EarningsPerShareDiluted_c20240101__20240630_zf8JNTKeUFeh" title="Net loss per share attributable to common shareholders diluted">(30.43</span></span></td><td style="text-align: left">)</td></tr> </table> -7793756 -7793756 -3955328 -3955328 -11437235 -11437235 -8245459 -8245459 1911276 1911276 280675 280675 1578814 1578814 270940 270940 -4.08 -4.08 -14.09 -14.09 -7.24 -7.24 -30.43 -30.43 23302 23302 0 <p id="xdx_893_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_zVUYeLBRBN2b" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Securities that were excluded from loss per share as their effect would be anti-dilutive due to the net loss position that could potentially be dilutive in future periods are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BA_zaTWBm7iX8Gf" style="display: none"> Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20250101__20250630_zmohwCGPVNP7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20240101__20240630_zfevyDwl3CS1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zRaI2D5QYJR7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Options</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">12,542</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">3,365</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RestrictedStockUnitsRSUMember_ziqL0uFvh33" style="vertical-align: bottom; background-color: White"> <td>RSUs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">216,396</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,756</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--PublicWarrantSharesMember_zZ9XjhJ9pxI5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Public warrant shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">23,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">23,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--GEMWarrantSharesMember_zpnziCRhdlJl" style="vertical-align: bottom; background-color: White"> <td>GEM warrant shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,657</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,657</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--CommonWarrantSharesMember_z4Z0sPWui85j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Common warrant shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">560,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27,778</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--PlacementAgentWarrantSharesMember_zrX9nbXcei12" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Placement agent warrant shares</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">31,702</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,667</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_iT_zX1ByidWN2q8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">845,297</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">59,223</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 12542 3365 216396 1756 23000 23000 1657 1657 560000 27778 31702 1667 845297 59223 <p id="xdx_840_eus-gaap--DerivativesPolicyTextBlock_zxtXwK4VDESi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_866_zeX8x9aRhMbl">Derivative Financial Instruments</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company evaluates all its financial instruments to determine if such instruments contain features that qualify as embedded derivatives. Embedded derivatives must be separately measured from the host contract if all the requirements for bifurcation are met. The assessment of the conditions surrounding the bifurcation of embedded derivatives depends on the nature of the host contract. Bifurcated embedded derivatives are recognized at fair value, with changes in fair value recognized in the statement of operations each period. Bifurcated embedded derivatives are classified with the related host contract in the Company’s balance sheet. Refer to <i>Note 7 - Fair Value Measurements</i> and <i>Note 13 - Debt</i> for further detail.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_845_ecustom--BridgeNotesAndPrivatePlacementConvertibleNotes_zq1z54OD5N5b" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_862_z1G7vmAdQPc7">Bridge Notes and Private Placement Convertible Notes - Fair Value Option Election</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company determined the Agile Notes and 1800 Diagonal Notes (The “Bridge Notes”) and the Private Placement Convertible Notes (as defined in <i>Note 13</i>) were eligible for the fair value option, in accordance with ASC 825-10-50-28, and made such election to account for the Bridge Notes and Private Placement Convertible Notes at fair value. The fair value option may be elected on an instrument-by-instrument basis and is irrevocable unless a new election date occurs. Additional term or other notes may be issued in subsequent periods where the Company would be able to make a fair value option election upon issuance provided eligibility criteria are met. The Company records the portion of the Bridge Notes and Private Placement Convertible Notes that are issued and outstanding for accounting purposes at fair value with changes in fair value recorded in other income (expense), net in the condensed consolidated statement of operations, except for the portion of the total change in fair value that results from a change in the instrument-specific credit risk of the Bridge Notes and Private Placement Convertible Notes, which is recorded in other comprehensive income (loss), if applicable. The fair value option election was made to align the accounting for the Bridge Notes and Private Placement Convertible Notes with the Company’s financial reporting objectives and reduce operational effort to account for embedded features that otherwise would require bifurcation as a separate unit of account.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to the fair value option election, direct and incremental debt issuance costs and consideration paid to the lender related to the Bridge Notes and Private Placement Convertible Notes were expensed as incurred and recorded in other income (expense), net in the condensed consolidated statements of operations. Measurement of the change in fair value of the Bridge Notes and Private Placement Convertible Notes includes accrued interest, whether paid-in-kind or cash.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_840_eus-gaap--FairValueOfFinancialInstrumentsPolicy_zWu6qchJKovi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_866_zkp0lJYqCP5g">Fair Value of Financial Instruments</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In accordance with FASB ASC 820 <i>Fair Value Measurements and Disclosures</i>, the Company uses a three-level hierarchy for fair value measurements of certain assets and liabilities for financial reporting purposes that distinguishes between market participant assumptions developed from market data obtained from outside sources (observable inputs) and the Company’s own assumptions about market participant assumptions developed from the best information available to us in the circumstances (unobservable inputs). The fair value hierarchy is divided into three levels based on the source of inputs as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 1: Quoted prices in active markets for identical assets or liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2: Inputs other than Level 1 prices for similar assets or liabilities that are directly or indirectly observable in the marketplace.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 3: Unobservable inputs which are supported by little or no market activity and values determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant judgment or estimation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The fair value measurements discussed herein are based upon certain market assumptions and pertinent information available to management during the three and six months ended June 30, 2025 and 2024. The carrying amount of cash, accounts receivable, prepaid expenses and other current assets, accounts payable, accrued expenses, deferred revenue, and other current liabilities approximated their fair values as of June 30, 2025 and December 31, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_846_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zKTZDn7b7hj9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86D_zdwLwsqliPAf">Recent Accounting Pronouncements</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Recent accounting pronouncements not yet effective</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In December 2023, the FASB issued ASU 2023-09, <i>Income Taxes (Topic 740), Improvements to income tax disclosures</i>, which enhances the disclosure requirements for the income tax rate reconciliation, domestic and foreign income taxes paid, requiring disclosure of disaggregated income taxes paid by jurisdiction, unrecognized tax benefits, and modifies other income tax-related disclosures. The amendments are effective for annual periods beginning after December 15, 2024. Early adoption is permitted and should be applied prospectively. The Company is currently evaluating the effect of adopting this guidance on its consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In November 2024, the FASB issued ASU No. 2024-03, <i>Disaggregation of Income Statement Expenses (Subtopic 220-40)</i>. The ASU requires the disaggregated disclosure of specific expense categories, including purchases of inventory, employee compensation, depreciation, and amortization included in each relevant expense caption presented on the statement of operations. The guidance also requires disclosure of a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively, as well as the total amount of selling expenses and an entity’s definition of selling expenses. This guidance is effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027. Early adoption of the amendment is permitted. The Company is currently evaluating the guidance and its impact to its consolidated financial statements and related disclosures.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In July 2025, The Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2025-05, “Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets”, which provides a practical expedient to measure credit losses on accounts receivable and contract assets. This guidance is effective for periods beginning after December 15, 2025 and will be adopted prospectively. Early adoption is permitted. The Company is currently evaluating the impact of this guidance on our consolidated financial statements and related disclosures.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Recently adopted accounting pronouncements</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In November 2023, the FASB issued ASU 2023-07, <i>Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures</i>. The amendments improve reportable segment disclosure requirements through enhanced disclosures over significant segment expenses regularly provided to the Chief Operating Decision Maker (“CODM”), extending certain annual disclosures to interim periods, and through permitting more than one measure of segment profit or loss to be reported under certain conditions. The Company adopted this guidance effective December 31, 2024, on a retrospective basis. Refer to <i>Note 19</i> for further information.</span></p> <p id="xdx_80D_eus-gaap--BusinessCombinationDisclosureTextBlock_zYbLKgH14z7c" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>4. <span id="xdx_82F_zgzEEiCZUfD5">Acquisition of Vidello</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 31, 2025, the Company closed a previously announced merger with Vidello Limited (“Vidello”), a private limited company registered in England and Wales (the “Vidello Merger”), pursuant to a Merger Agreement (the “Vidello Merger Agreement”), dated December 19, 2024, by and among Vidello, and certain shareholders of Vidello (the “Vidello Shareholders”). At the closing, Vidello Shareholders transferred all the outstanding shares of Vidello to the Company, and Vidello became a direct and wholly owned subsidiary of the Company. At the closing, the Company paid to the Vidello Shareholders, $<span id="xdx_90C_eus-gaap--PaymentsToAcquireBusinessesGross_c20250131__20250131__us-gaap--BusinessAcquisitionAxis__custom--VidelloLimitedMember_z2aU1hFyq3Fg" title="Cash consideration">2,745,031</span> in cash (the “Vidello Cash Consideration”), whereby $<span id="xdx_90B_ecustom--BusinessAcquisitionAmountWithheldForIndemnificationExpensesAndOtherHoldbackProvisions_c20250131__20250131__us-gaap--BusinessAcquisitionAxis__custom--VidelloLimitedMember_zU4gRJS269D9" title="Amount withheld for indemnification expenses and other holdback provisions">2,500,000</span> are withheld for indemnification expenses and other holdback provisions in accordance with the Vidello Merger Agreement, and issued <span id="xdx_90E_eus-gaap--BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued_c20250131__20250131__us-gaap--BusinessAcquisitionAxis__custom--VidelloLimitedMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zNl5eCJTlAg6" title="Shares warrants issued">89,820</span> shares of Class A Common Stock (the “Share Consideration”, together with the Cash Consideration, the “Vidello Closing Consideration”). The Company’s primary reason for acquiring Vidello was to enhance revenue growth and strengthen the Company’s competitive market position through cross selling opportunities. Vidello is a video hosting and marketing platform designed to help businesses manage, customize, and optimize their video content.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">With respect to the holdback amount, this consists of three distinct components, being (1) the withholding of $<span id="xdx_90E_ecustom--BusinessAcquisitionAmountWithheldAsSecurityForObligationsOfCompanyShareholders_c20250131__20250131__us-gaap--BusinessAcquisitionAxis__custom--VidelloLimitedMember_zziiBf2xxkX3" title="Amount withheld as security for obligations of company shareholders">1,000,000</span> as security for the obligations of Company Shareholders for a period of twelve months (the “Indemnification Holdback Amount”), (2) the withholding of $<span id="xdx_903_ecustom--BusinessAcquisitionAmountWithheldAsSecurityForObligationsOfCompanyShareholdersToCompleteTheTransitionIntegrationAndRelatedMatters_c20250131__20250131__us-gaap--BusinessAcquisitionAxis__custom--VidelloLimitedMember_zMFSw0EcnBGh" title="Amount withheld as security for obligations of company shareholders to complete the transition, integration and related matters">500,000</span> as security for the obligations of Company Shareholders to cooperate with best efforts and in good faith with to complete the transition, integration and related matters of Vidello’s business with Banzai, including, but not limited to (a) the transition of data of Vidello managed and/or held by Vidello to Banzai, (b) certain services relating to the continued operations of Vidello, and (c) the training of certain employees of Banzai regarding the operations of Vidello including any proprietary business processes and trade secrets following the Closing, during the six months following the Closing (the “Transition Holdback Period”), and (3) the withholding of $<span id="xdx_90F_ecustom--BusinessAcquisitionAmountWithheldSubjectToCertainRevenueRelatedConditions_c20250131__20250131__us-gaap--BusinessAcquisitionAxis__custom--VidelloLimitedMember_zauKybC7dvRc" title="Business Acquisition, Business acquisition, amount withheld subject to certain revenue related conditions.">1,000,000</span> subject to certain revenue related conditions being met during the <span id="xdx_90F_ecustom--BusinessAcquisitionRevenueHoldbackPeriod_dtD_c20250131__20250131__us-gaap--BusinessAcquisitionAxis__custom--VidelloLimitedMember_zad9HtaUi2X6" title="Business acquisition, revenue holdback period">180</span> day period following the Closing (the “Revenue Holdback Amount” and together with the Indemnification Holdback Amount and the Transition Holdback Amount, the “Holdback Amount”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In connection with and as a condition of closing pursuant to the Vidello Merger Agreement, the Company executed and delivered to each Vidello Shareholder a lock-up agreement (the “Vidello Lock-Up Agreement”), pursuant to which, the shareholders of Class A Common Stock and any other securities convertible or exercisable into the shares of Class A Common Stock beneficially owned by them, during the <span id="xdx_90D_ecustom--BusinessAcquisitionRevenueHoldbackPeriod_dtD_c20250131__20250131__us-gaap--BusinessAcquisitionAxis__custom--VidelloLimitedMember_z7kFXibGnYjd" title="Business acquisition, revenue holdback period">180</span>-day period following the closing of the Vidello Merger, cannot complete any Prohibited Transfer (as defined in the Vidello Merger Agreement).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Immediately prior to the closing of the Vidello Merger, the directors, and officers of Vidello tendered their resignation, effective at the closing. Pursuant to the Vidello Merger Agreement, the CEO of the Company shall be the sole member of the board of directors of Vidello effective upon the closing of the Vidello Merger.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company incurred transaction costs of approximately $<span id="xdx_904_eus-gaap--BusinessAcquisitionCostOfAcquiredEntityTransactionCosts_iI_dc_c20250131__us-gaap--BusinessAcquisitionAxis__custom--VidelloLimitedMember_zazXJnDs6Lch" title="Transaction costs">730,000</span> which are included in the Company’s condensed consolidated statement of operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Vidello Merger was accounted for as a business combination under the acquisition method pursuant to Accounting Standards Codification Topic 805, <i>Business Combinations</i> (“ASC 805”), with the Company as the accounting acquirer. Under the acquisition method, the total purchase price of the acquisition is allocated to the net identifiable tangible and intangible assets acquired and liabilities assumed based on the fair values as of the acquisition date. The preliminary fair value of the consideration transferred totaled $<span id="xdx_904_eus-gaap--BusinessCombinationConsiderationTransferred1_c20250131__20250131__us-gaap--BusinessAcquisitionAxis__custom--VidelloLimitedMember_zZcNm9TszVHl" title="Total consideration paid">6,267,747</span> summarized as follows:</span></p> <p id="xdx_895_eus-gaap--ScheduleOfBusinessAcquisitionsByAcquisitionEquityInterestIssuedOrIssuableTextBlock_zMscLTojmlY4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B9_zlcXSxKBHIki" style="display: none">Summary of Preliminary Fair Value of the Consideration Transferred</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250131__20250131_zYee3fHIOQQ4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40B_ecustom--BusinessCombinationCashPaidAtClosing_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember_znvyDrCMsK61" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">Cash paid at closing</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,745,031</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--BusinessCombinationConsiderationTransferred1_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zZZUSUQRJtZ1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Common stock issued to Vidello Stockholders</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,661,677</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--BusinessCombinationFairValueOfHoldbackAmount_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember_zPdZIeQSEWZ6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Fair value of Holdback Amount</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,861,039</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_ecustom--BusinessCombinationConsiderationTransferred_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zzZrkZJDYMv5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total consideration paid</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,267,747</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A3_zzgWw1TX22q1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_893_eus-gaap--ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_zUnLt09UwU49" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company made a provisional allocation of the purchase price of the Vidello Merger to the assets acquired and liabilities assumed as of the acquisition date. The following table summarizes the provisional purchase price allocation relating to the Vidello Merger:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B7_zSN7wRy2t5P7"> Summary of Provisional Purchase Price Allocation Relating to Vidello Merger</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Assets acquired:</td><td> </td> <td colspan="2" id="xdx_496_20250131_zJ2E69VSt1Of"> </td><td> </td></tr> <tr id="xdx_400_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents_iI_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember_ziq9YFlr6wG9" style="vertical-align: bottom; background-color: White"> <td style="width: 80%; text-align: left">Cash and cash equivalents</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">67,551</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_iI_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember_zSP5INDPa2u5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Property and equipment, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,375</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_iI_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zHsUSiRHiasg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Intangible Assets - Vidello - Customer relationships</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">551,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_iI_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zTbfkx37DtDg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Intangible Assets - Vidello - Trade name</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">736,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_iI_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--DevelopedTechnologyMember_z6Sn5aFFzd1d" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Intangible Assets - Vidello - Developed Technology</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,010,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_iI_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember_zWnkrqWdo2X5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Total assets</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,373,926</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Liabilities assumed:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable_iI_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember_zXSzyj4s0QZd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accounts payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">705</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAccruedExpensesAndOtherCurrentLiabilities_iI_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember_zRZYQeDHlZK4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued expenses and other current liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,377</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesDeferredRevenue_iI_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember_zmDBoVOKloI1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Unearned revenue, current</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">447,966</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxLiabilities_iI_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember_zMrP4cNTd7I7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Deferred tax liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,324,250</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedTaxesPayable_iI_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember_ze7f5fl0MpSj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Taxes payable</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">337,127</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_iI_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember_z6wazRzkpVva" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">2,125,425</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iTI_zkN3n8hcCJz7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Total identifiable net assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,248,501</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Goodwill recorded:</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--Goodwill_iI_z5yIPZnOPuse" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Goodwill</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,019,246</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet_iI_zuxIC5Omogue" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total consideration</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,267,747</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AC_z0CY3tcvbo3e" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Goodwill recognized is not expected to be deductible for tax purposes. We believe that in this acquisition goodwill represents the value of Vidello’s existing products, combined with the added business synergies of integrating with the existing Banzai products and customer base.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of the date these condensed consolidated financial statements were issued, the purchase accounting related to this acquisition was incomplete as certain working capital balances were subject to potential change. The Company has reflected the provisional amounts in these condensed consolidated financial statements. As such, the above balances may be adjusted in a future period, not to exceed one (1) year from the acquisition date pursuant to ASC 805, as the Company finalizes and/or updates for any identified working capital adjustments, which may be material to the consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p id="xdx_89B_eus-gaap--ScheduleOfFiniteLivedIntangibleAssetsAcquiredAsPartOfBusinessCombinationTextBlock_zOsBa7cVbhSk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All intangible assets acquired are subject to amortization and their associated estimated acquisition date fair values are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8BA_z5ABrrryisQ3">Summary of Intangible Assets Acquired and their Associated Estimated Acquisition Date Fair Values</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Estimated</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_495_20250131__20250131__us-gaap--BusinessAcquisitionAxis__custom--VidelloMember_zqweyEUqI98g" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Acquisition Date</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Intangible Assets</span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Useful Life</span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair Value</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr id="xdx_40C_eus-gaap--FinitelivedIntangibleAssetsAcquired1_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zA7YlbDvsSR9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vidello - Customer Relationships</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90D_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20250131__20250131__us-gaap--BusinessAcquisitionAxis__custom--VidelloMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zdQck4413LT7" title="Estimated Useful Life">6</span> years</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">551,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr id="xdx_401_eus-gaap--FinitelivedIntangibleAssetsAcquired1_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zcH6juxEE1Aj" style="vertical-align: bottom; background-color: White"> <td style="width: 62%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vidello - Trade name</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 16%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_908_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20250131__20250131__us-gaap--BusinessAcquisitionAxis__custom--VidelloMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zBiG1jPtISA9" title="Estimated Useful Life">10</span> years</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">736,000</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr id="xdx_408_eus-gaap--FinitelivedIntangibleAssetsAcquired1_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember_zE57ywiCeBG4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vidello - Technology</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_906_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20250131__20250131__us-gaap--BusinessAcquisitionAxis__custom--VidelloMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember__srt--RangeAxis__srt--MinimumMember_zojzjvGDQtM7" title="Estimated Useful Life">7</span> - <span id="xdx_909_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20250131__20250131__us-gaap--BusinessAcquisitionAxis__custom--VidelloMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember__srt--RangeAxis__srt--MaximumMember_zheAlj6e768l" title="Estimated Useful Life">8</span> years</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,010,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p id="xdx_8AC_zEv03KYfsVc4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net income in the Condensed Consolidated Statement of Operations for the three and six months ended June 30, 2025 includes net income of approximately $<span id="xdx_909_eus-gaap--NetIncomeLoss_pn3n3_c20250401__20250630__us-gaap--BusinessAcquisitionAxis__custom--VidelloMember_zhPjXbZevu03" title="Net Income (Loss)">163</span> thousand and $<span id="xdx_905_eus-gaap--NetIncomeLoss_pn3n3_c20250101__20250630__us-gaap--BusinessAcquisitionAxis__custom--VidelloMember_zUcwWhNBuGI9" title="Net Income (Loss)">484</span> thousand, respectively, of Vidello from the date of acquisition to June 30, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Pro forma disclosure for the Vidello acquisition</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following unaudited pro forma financial information reflects the consolidated results of operations of the Company as if the Merger with Vidello had taken place on January 1, 2024. The pro forma results presented are the result of combining the revenues and earnings of the Company with the revenues and earnings of Vidello. The Company did not have any material, non-recurring pro forma adjustments directly attributable to the business combination included in the reported pro forma revenue.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_895_eus-gaap--BusinessAcquisitionProFormaInformationTextBlock_zy3OieKzIefe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The pro forma financial information is not necessarily indicative of the results of operations as they would have been had the transactions been effected on the assumed date:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B0_zxdoPOL5lc9j">Summary of Pro Forma Financial Information</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20250101__20250630_zAGOxEnelxbb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20240101__20240630_zinkuqWodYql" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six Months Ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--BusinessAcquisitionsProFormaRevenue_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember_zjLV84iGQQJl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">6,871,768</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">5,954,361</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--BusinessAcquisitionProFormaCostOfRevenue_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember_zUrBiQnZLF3l" style="vertical-align: bottom; background-color: White"> <td>Cost of revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,350,969</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,148,263</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--BusinessAcquisitionProFormaOperatingExpenses_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember_z6apmrt3EUJa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Operating expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,166,475</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,409,984</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--BusinessAcquisitionProFormaOtherExpensesIncomeNet_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember_z6ittyRZYvBj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total other expenses (income), net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,982,364</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,465,202</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--BusinessCombinationProFormaInformationEarningsOrLossOfAcquireeSinceAcquisitionDateActual_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember_zT1K7vFB9TT9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loss before income taxes attributable to common stockholders</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(11,628,040</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(7,069,088</td><td style="text-align: left">)</td></tr> </table> <p id="xdx_8A2_z49lXl4ZgW76" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 2745031 2500000 89820 1000000 500000 1000000 P180D P180D 730000 6267747 <p id="xdx_895_eus-gaap--ScheduleOfBusinessAcquisitionsByAcquisitionEquityInterestIssuedOrIssuableTextBlock_zMscLTojmlY4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B9_zlcXSxKBHIki" style="display: none">Summary of Preliminary Fair Value of the Consideration Transferred</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250131__20250131_zYee3fHIOQQ4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40B_ecustom--BusinessCombinationCashPaidAtClosing_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember_znvyDrCMsK61" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">Cash paid at closing</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,745,031</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--BusinessCombinationConsiderationTransferred1_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zZZUSUQRJtZ1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Common stock issued to Vidello Stockholders</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,661,677</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--BusinessCombinationFairValueOfHoldbackAmount_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember_zPdZIeQSEWZ6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Fair value of Holdback Amount</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,861,039</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_ecustom--BusinessCombinationConsiderationTransferred_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zzZrkZJDYMv5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total consideration paid</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,267,747</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 2745031 1661677 1861039 6267747 <p id="xdx_893_eus-gaap--ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_zUnLt09UwU49" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company made a provisional allocation of the purchase price of the Vidello Merger to the assets acquired and liabilities assumed as of the acquisition date. The following table summarizes the provisional purchase price allocation relating to the Vidello Merger:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B7_zSN7wRy2t5P7"> Summary of Provisional Purchase Price Allocation Relating to Vidello Merger</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Assets acquired:</td><td> </td> <td colspan="2" id="xdx_496_20250131_zJ2E69VSt1Of"> </td><td> </td></tr> <tr id="xdx_400_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents_iI_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember_ziq9YFlr6wG9" style="vertical-align: bottom; background-color: White"> <td style="width: 80%; text-align: left">Cash and cash equivalents</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">67,551</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_iI_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember_zSP5INDPa2u5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Property and equipment, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,375</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_iI_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zHsUSiRHiasg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Intangible Assets - Vidello - Customer relationships</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">551,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_iI_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zTbfkx37DtDg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Intangible Assets - Vidello - Trade name</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">736,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_iI_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--DevelopedTechnologyMember_z6Sn5aFFzd1d" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Intangible Assets - Vidello - Developed Technology</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,010,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_iI_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember_zWnkrqWdo2X5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Total assets</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,373,926</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Liabilities assumed:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable_iI_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember_zXSzyj4s0QZd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accounts payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">705</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAccruedExpensesAndOtherCurrentLiabilities_iI_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember_zRZYQeDHlZK4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued expenses and other current liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,377</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesDeferredRevenue_iI_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember_zmDBoVOKloI1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Unearned revenue, current</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">447,966</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxLiabilities_iI_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember_zMrP4cNTd7I7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Deferred tax liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,324,250</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedTaxesPayable_iI_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember_ze7f5fl0MpSj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Taxes payable</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">337,127</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_iI_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember_z6wazRzkpVva" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">2,125,425</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iTI_zkN3n8hcCJz7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Total identifiable net assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,248,501</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Goodwill recorded:</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--Goodwill_iI_z5yIPZnOPuse" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Goodwill</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,019,246</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet_iI_zuxIC5Omogue" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total consideration</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,267,747</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 67551 9375 551000 736000 4010000 5373926 705 15377 447966 1324250 337127 2125425 3248501 3019246 6267747 <p id="xdx_89B_eus-gaap--ScheduleOfFiniteLivedIntangibleAssetsAcquiredAsPartOfBusinessCombinationTextBlock_zOsBa7cVbhSk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All intangible assets acquired are subject to amortization and their associated estimated acquisition date fair values are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8BA_z5ABrrryisQ3">Summary of Intangible Assets Acquired and their Associated Estimated Acquisition Date Fair Values</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Estimated</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_495_20250131__20250131__us-gaap--BusinessAcquisitionAxis__custom--VidelloMember_zqweyEUqI98g" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Acquisition Date</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Intangible Assets</span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Useful Life</span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair Value</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr id="xdx_40C_eus-gaap--FinitelivedIntangibleAssetsAcquired1_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zA7YlbDvsSR9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vidello - Customer Relationships</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90D_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20250131__20250131__us-gaap--BusinessAcquisitionAxis__custom--VidelloMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zdQck4413LT7" title="Estimated Useful Life">6</span> years</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">551,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr id="xdx_401_eus-gaap--FinitelivedIntangibleAssetsAcquired1_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zcH6juxEE1Aj" style="vertical-align: bottom; background-color: White"> <td style="width: 62%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vidello - Trade name</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 16%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_908_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20250131__20250131__us-gaap--BusinessAcquisitionAxis__custom--VidelloMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zBiG1jPtISA9" title="Estimated Useful Life">10</span> years</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">736,000</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr id="xdx_408_eus-gaap--FinitelivedIntangibleAssetsAcquired1_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember_zE57ywiCeBG4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vidello - Technology</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_906_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20250131__20250131__us-gaap--BusinessAcquisitionAxis__custom--VidelloMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember__srt--RangeAxis__srt--MinimumMember_zojzjvGDQtM7" title="Estimated Useful Life">7</span> - <span id="xdx_909_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20250131__20250131__us-gaap--BusinessAcquisitionAxis__custom--VidelloMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember__srt--RangeAxis__srt--MaximumMember_zheAlj6e768l" title="Estimated Useful Life">8</span> years</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,010,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> P6Y 551000 P10Y 736000 P7Y P8Y 4010000 163000 484000 <p id="xdx_895_eus-gaap--BusinessAcquisitionProFormaInformationTextBlock_zy3OieKzIefe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The pro forma financial information is not necessarily indicative of the results of operations as they would have been had the transactions been effected on the assumed date:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B0_zxdoPOL5lc9j">Summary of Pro Forma Financial Information</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20250101__20250630_zAGOxEnelxbb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20240101__20240630_zinkuqWodYql" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six Months Ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--BusinessAcquisitionsProFormaRevenue_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember_zjLV84iGQQJl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">6,871,768</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">5,954,361</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--BusinessAcquisitionProFormaCostOfRevenue_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember_zUrBiQnZLF3l" style="vertical-align: bottom; background-color: White"> <td>Cost of revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,350,969</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,148,263</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--BusinessAcquisitionProFormaOperatingExpenses_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember_z6apmrt3EUJa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Operating expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,166,475</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,409,984</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--BusinessAcquisitionProFormaOtherExpensesIncomeNet_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember_z6ittyRZYvBj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total other expenses (income), net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,982,364</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,465,202</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--BusinessCombinationProFormaInformationEarningsOrLossOfAcquireeSinceAcquisitionDateActual_hus-gaap--BusinessAcquisitionAxis__custom--VidelloMember_zT1K7vFB9TT9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loss before income taxes attributable to common stockholders</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(11,628,040</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(7,069,088</td><td style="text-align: left">)</td></tr> </table> 6871768 5954361 1350969 1148263 15166475 10409984 1982364 1465202 -11628040 -7069088 <p id="xdx_80F_eus-gaap--RelatedPartyTransactionsDisclosureTextBlock_zVcOviaetvi7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>5. <span id="xdx_82C_zsBGCfUrBbMg">Related Party Transactions</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Due to Related Party of 7GC</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During 2023, the Sponsor paid certain expenses on behalf of 7GC. Upon Closing of the Merger, Banzai assumed the $<span id="xdx_908_eus-gaap--OtherLiabilitiesCurrent_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember__dei--LegalEntityAxis__custom--SevenGcCoHoldingsIncMember_zQ2L0QAQjB1c" title="Other current liabilities">67,118</span> liability. As of June 30, 2025, the entire balance remained outstanding and is included within due to related party under current liabilities on the accompanying condensed consolidated balance sheet.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Legacy Banzai Related Party Transactions</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During 2023, Legacy Banzai issued Promissory Notes and Convertible Notes to related parties. See <i>Note 13 - Debt </i>for further details related to these transactions and associated balances.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Debt Restructuring Agreement with CPBF</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 5, 2024, the Company and CP BF agreed to amend the outstanding balance of all debt previously in the form of one term note and two convertible notes into one new consolidated convertible note. The newly issued consolidated convertible note was issued on September 23, 2024. Additionally on <span id="xdx_907_eus-gaap--DebtInstrumentIssuanceDate1_dd_c20240905__20240905_zgPY880nsmec" title="Debt instrument issuance date">September 23, 2024</span>, the Company and CP BF entered into a share purchase agreement where the Company issued equity in the form of common stock, common stock warrants and pre-funded warrants to CP BF for the reduction of $<span id="xdx_903_ecustom--ReductionOfDebt_iI_pn6n6_c20240923_zsyr5wwOpzp3" title="Reduction of debt">2</span> million of debt under the newly issued consolidated convertible note. See <i>Note 13 - Debt</i>, for further details related to the transaction and associated balances.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Due to Related Party of Company CEO</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 12, 2024, the CEO of the Company loaned the Company an advance of $<span id="xdx_904_ecustom--ProceedsFromRelatedPartyAdvance_c20240912__20240912__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__srt--ChiefExecutiveOfficerMember_zkSycvLhSEl3" title="Proceeds from related party advance">100,000</span>. The advance is non-interest bearing, and matures one year from issuance. As of June 30, 2025, the entire balance remained outstanding and is included within due to related party under current liabilities on the accompanying condensed consolidated balance sheet.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 67118 2024-09-23 2000000 100000 <p id="xdx_807_eus-gaap--RevenueFromContractWithCustomerTextBlock_zPgUZPMflEqe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>6. <span id="xdx_82E_zh9wvGi6LI4g">Revenue</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under ASC 606, revenue is recognized throughout the life of the executed agreement. The Company measures revenue based on considerations specified in terms and conditions agreed to by a customer. Furthermore, the Company recognizes revenue when a </span>performance obligation is satisfied by transferring control of the service to the customer, which occurs over time. The Company considers this method a faithful depiction of the transfer of control as services are substantially the same and have the same pattern of transfer over the life of the contract.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s services include providing end-to-end video engagement solutions that provide a fast, intuitive and powerful platform of marketing tools that create more intent-driven videos, webinars, virtual events and other digital and in-person marketing campaigns.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As noted within the SOW’s and invoices, agreements range from monthly, to annual, to multi-year and Banzai generally provides for net <span id="xdx_906_ecustom--PaymentTerm_dtD_c20250101__20250630_zcX1WFvve08h" title="Payment term">30</span>-day payment terms with the payment made directly through check or electronic means.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Banzai’s Management believes its exposure to credit risk is sufficiently mitigated by collection through credit card sales or direct payment from established clients.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company follows the provisions of ASC 606, under which the Company recognizes revenue when the customer obtains control of promised goods or services, in an amount that reflects the consideration which is expected to be received in exchange for those goods or services. The Company recognize revenues following the five-step model prescribed under ASC 606: (i) identify contract(s) with a customer; (ii) identify the performance obligation(s) in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligation(s) in the contract; and (v) recognize revenues when (or as) the Company satisfies a performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. At contract inception, once the contract is determined to be within the scope of ASC 606, the Company assesses the goods or services promised within each contract and determines those that are performance obligations and assesses whether each promised good or service is distinct. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. Sales, value add, and other taxes collected on behalf of third parties are excluded from revenue.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Nature of Products and Services</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following is a description of the Company’s products and services from which the Company generates revenue, as well as the nature, timing of satisfaction of performance obligations, and significant payment terms for each, as applicable:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Demio</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Demio product is a full-stack technology that marketers can leverage live and automated for video marketing content such as webinars and virtual events. Software products are provided to Demio customers for a range of attendees and hosts within a specified time frame at a specified established price. <span id="xdx_90C_eus-gaap--RevenuePerformanceObligationDescriptionOfTiming_c20250101__20250630__srt--ProductOrServiceAxis__custom--DemioMember_zcdnS1v1FfSh" title="Performance obligations, timing">The performance obligations identified include access to the suite and platform, within the parameters established, and within the standards established in the agreement. Contracts include a standalone selling price for the number of webinars and hosts as a performance obligation. There are no financing components and payments are typically net 30 of date or receipt of invoice. It is nearly 100% certain that a significant revenue reversal will not occur. The Company recognizes revenue for its sale of Demio services over time which corresponds with the period of time that access to the service is provided.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Reach</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">While the Reach product is in the process of being phased out, the Company continues to generate revenues from the product. The Reach product provides a multi-channel targeted audience acquisition (via Reach) to bolster engagement and Return on Investment (ROI). Banzai enables marketing teams to create winning webinars and virtual and in-person events that increase marketing efficiency and drive additional revenue. Software products are provided to Reach customers for a range of simultaneous events and registrations within a specified time frame at a specified established price. <span id="xdx_901_eus-gaap--RevenuePerformanceObligationDescriptionOfTiming_c20250101__20250630__srt--ProductOrServiceAxis__custom--ReachMember_zOrjaUfyfJe6" title="Performance obligations, timing">The performance obligations identified include access to the suite and platform, within the parameters established, and within the standards established in the agreement. Contracts include a standalone selling price for the number of simultaneous published events as a performance obligation. There are no financing components and payments are typically net 30 of date or receipt of invoice. It is nearly 100% certain that a significant revenue reversal will not occur. The Company recognizes revenue for its sale of Reach services over time which corresponds with the timing the service is rendered.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>OpenReel</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The OpenReel product offers subscription-based software as a service (SaaS) offerings to enterprise, media, entertainment and agency teams to remotely control, direct, script, film, and collaborate on high definition video projects from a mobile device or webcam. <span id="xdx_909_eus-gaap--RevenuePerformanceObligationDescriptionOfTiming_c20250101__20250630__srt--ProductOrServiceAxis__custom--OpenReelMember_zyoy1bg6YEuh" title="Performance obligations, timing">The Company enters into fixed price subscription contracts with customers, which can be monthly, annual, or multi-year agreements which auto-renew without discount for additional periods of the same duration as the initial term, unless either party requests termination in writing at least thirty (30) days prior to the end of the initial service term. The subscription revenues are recognized ratably over the term of the service agreement, which is considered an output method, as the obligation of hosting the SaaS product is fulfilled over the course of the agreement. The Company does not charge for implementation or recognize any revenues upfront due to minimal effort required. There are no financing components and payments are typically net 30 of date of receipt of invoice, or typically net 90 date of receipt of invoice for customers on multi-year subscription agreement contracts. It is nearly 100% certain that a significant revenue reversal will not occur.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Vidello</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Vidello product is a video hosting and marketing platform designed to help businesses manage, customize, and optimize their video content. Revenue is generated through Vidello providing video hosting and marketing platform subscription software service for a set period of time. <span id="xdx_90A_eus-gaap--RevenuePerformanceObligationDescriptionOfTiming_c20250101__20250630__srt--ProductOrServiceAxis__custom--VidelloMember_znx1YQwPpw7c" title="Performance obligations, timing">Customer contracting is achieved via self service and invoicing is initiated automatically once the customer accepts the terms and conditions on the platform, based on their selection of the desired subscription product. When execution or completion of the contract occurs, the contract is valid and revenue is earned when the service is provided for each period of performance, daily. The amount is paid by the customer based on the contract terms monthly, annually or indefinite with the majority paid via credit card processing.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Service Trade Revenue</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has one customer for which the customer is also a vendor. For this one customer, the Company exchanged services for approximately $<span id="xdx_907_ecustom--ServicesRevenueFromVendorCustomer_c20250101__20250630_zlIeUbGqSAaa" title="Services revenue from vendor customer">177,000 </span>and $<span id="xdx_904_ecustom--ServicesRevenueFromVendorCustomer_c20240101__20240630_zyIZlGAe6l3d" title="Services revenue from vendor customer">302,055</span>, during the six months ended June 30, 2025 and 2024, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Disaggregation of Revenue</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p id="xdx_894_eus-gaap--DisaggregationOfRevenueTableTextBlock_zq96g53XDXd1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes revenue by region based on the billing address of customers for the three months ended June 30, 2025 and 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B1_zEYVPBzB6gN8"> Summary of Revenue by Region</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">Percentage</p> <p style="margin-top: 0; margin-bottom: 0">of</p> <p style="margin-top: 0; margin-bottom: 0">Revenue</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">Percentage</p> <p style="margin-top: 0; margin-bottom: 0">of</p> <p style="margin-top: 0; margin-bottom: 0">Revenue</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 44%">Americas</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20250401__20250630__srt--StatementGeographicalAxis__srt--AmericasMember_zJaJcJAcLDed" style="width: 10%; text-align: right" title="Revenue">2,525,013</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20250401__20250630__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__srt--StatementGeographicalAxis__srt--AmericasMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember_zXFLMJCEnEWd" style="width: 10%; text-align: right" title="Concentration risk, percentage">77</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20240401__20240630__srt--StatementGeographicalAxis__srt--AmericasMember_zhml5YetVTdj" style="width: 10%; text-align: right" title="Revenue">587,712</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240401__20240630__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__srt--StatementGeographicalAxis__srt--AmericasMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember_zgkJ7Nz2h0A5" style="width: 10%; text-align: right" title="Concentration risk, percentage">55</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Europe, Middle East and Africa (EMEA)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20250401__20250630__srt--StatementGeographicalAxis__us-gaap--EMEAMember_z4glUmwPdwSg" style="text-align: right" title="Revenue">555,651</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20250401__20250630__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__srt--StatementGeographicalAxis__us-gaap--EMEAMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember_zekvmb8PSJTc" style="text-align: right" title="Concentration risk, percentage">17</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20240401__20240630__srt--StatementGeographicalAxis__us-gaap--EMEAMember_zrBojeQqg0y6" style="text-align: right" title="Revenue">360,666</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240401__20240630__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__srt--StatementGeographicalAxis__us-gaap--EMEAMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember_zRak2H3J5xJk" style="text-align: right" title="Concentration risk, percentage">34</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Asia Pacific</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20250401__20250630__srt--StatementGeographicalAxis__srt--AsiaPacificMember_zXuxc5vuo3K2" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue">181,586</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20250401__20250630__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__srt--StatementGeographicalAxis__srt--AsiaPacificMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember_zXxX3ntvhUL4" style="border-bottom: Black 1pt solid; text-align: right" title="Concentration risk, percentage">6</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20240401__20240630__srt--StatementGeographicalAxis__srt--AsiaPacificMember_zZYI8j4VIBhg" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue">119,819</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240401__20240630__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__srt--StatementGeographicalAxis__srt--AsiaPacificMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember_ziBeWm2hukli" style="border-bottom: Black 1pt solid; text-align: right" title="Concentration risk, percentage">11</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20250401__20250630_z5oMKLvAGcva" style="border-bottom: Black 2.5pt double; text-align: right" title="Revenue">3,262,250</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_980_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20250401__20250630__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember_z4JKAWc0Kvtk" style="border-bottom: Black 2.5pt double; text-align: right" title="Concentration risk, percentage">100</td><td style="padding-bottom: 2.5pt; text-align: left">%</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20240401__20240630_z3qw7WyLm3E8" style="border-bottom: Black 2.5pt double; text-align: right" title="Revenue">1,068,197</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_988_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240401__20240630__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember_zs6ZKzQJzDh3" style="border-bottom: Black 2.5pt double; text-align: right" title="Concentration risk, percentage">100</td><td style="padding-bottom: 2.5pt; text-align: left">%</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes revenue by region based on the billing address of customers for the six months ended June 30, 2025 and 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six Months Ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Percentage of Revenue</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Percentage of Revenue</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 44%">Americas</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20250101__20250630__srt--StatementGeographicalAxis__srt--AmericasMember_ztrynAJ1QoEc" style="width: 10%; text-align: right" title="Revenue">5,137,057</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20250101__20250630__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__srt--StatementGeographicalAxis__srt--AmericasMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember_z7LLKH8Zk8Sd" style="width: 10%; text-align: right" title="Concentration risk, percentage">77</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20240101__20240630__srt--StatementGeographicalAxis__srt--AmericasMember_zFeeFr59Zjid" style="width: 10%; text-align: right" title="Revenue">1,170,539</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240630__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__srt--StatementGeographicalAxis__srt--AmericasMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember_zHtUnff0CmO9" style="width: 10%; text-align: right" title="Concentration risk, percentage">55</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Europe, Middle East and Africa (EMEA)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20250101__20250630__srt--StatementGeographicalAxis__us-gaap--EMEAMember_zq6chexxPOm8" style="text-align: right" title="Revenue">1,112,122</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20250101__20250630__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__srt--StatementGeographicalAxis__us-gaap--EMEAMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember_zJ3gK6SIQAb2" style="text-align: right" title="Concentration risk, percentage">17</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20240101__20240630__srt--StatementGeographicalAxis__us-gaap--EMEAMember_zEnvUh73x6F" style="text-align: right" title="Revenue">746,916</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240630__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__srt--StatementGeographicalAxis__us-gaap--EMEAMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember_zmL3hFVDoQm9" style="text-align: right" title="Concentration risk, percentage">34</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Asia Pacific</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20250101__20250630__srt--StatementGeographicalAxis__srt--AsiaPacificMember_zoaL7kLwfgi4" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue">392,154</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20250101__20250630__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__srt--StatementGeographicalAxis__srt--AsiaPacificMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember_zD4L1zGoVmNi" style="border-bottom: Black 1pt solid; text-align: right" title="Concentration risk, percentage">6</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20240101__20240630__srt--StatementGeographicalAxis__srt--AsiaPacificMember_zZAfy7gsSm7j" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue">230,214</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240630__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__srt--StatementGeographicalAxis__srt--AsiaPacificMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember_zPql5Pr4VMK5" style="border-bottom: Black 1pt solid; text-align: right" title="Concentration risk, percentage">11</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20250101__20250630_z6vWT1vlGQ24" style="border-bottom: Black 2.5pt double; text-align: right" title="Revenue">6,641,333</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_984_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20250101__20250630__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember_zM0Dm5IxBu05" style="border-bottom: Black 2.5pt double; text-align: right" title="Concentration risk, percentage">100</td><td style="padding-bottom: 2.5pt; text-align: left">%</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20240101__20240630_zPkFz1OKGyKh" style="border-bottom: Black 2.5pt double; text-align: right" title="Revenue">2,147,669</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_985_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240630__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember_zp5Vt2kUnal5" style="border-bottom: Black 2.5pt double; text-align: right" title="Concentration risk, percentage">100</td><td style="padding-bottom: 2.5pt; text-align: left">%</td></tr> </table> <p id="xdx_8AB_zbN60FA1GFE5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Contract Balances</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Accounts Receivable, Net</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A receivable is recorded when an unconditional right to invoice and receive payment exists, such that only the passage of time is required before payment of consideration is due. The Company receives payments from customers based upon agreed-upon contractual terms, typically within 30 days of invoicing the customer. The timing of revenue recognition may differ from the timing of invoicing to customers.</span></p> <p id="xdx_899_eus-gaap--ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock_zqsSqnV2nK0f" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BA_zAn4EXv2S204" style="display: none">Schedule of Accounts Receivable, Net</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center; vertical-align: bottom"> </td><td style="text-align: center; vertical-align: bottom"> </td> <td colspan="2" style="text-align: center; vertical-align: bottom"><span style="font-size: 10pt">  <b>Opening Balance</b>    </span></td><td style="text-align: center; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td> <td colspan="2" style="text-align: center; font-weight: bold; vertical-align: bottom">Closing Balance</td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td> <td colspan="2" style="text-align: center; font-weight: bold; vertical-align: bottom">Opening Balance</td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td> <td colspan="2" style="text-align: center; font-weight: bold; vertical-align: bottom">Closing Balance</td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center; vertical-align: bottom"> </td><td style="padding-bottom: 1pt; text-align: center; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom"><span style="font-size: 10pt">  <b>1/1/2025</b>    </span></td><td style="padding-bottom: 1pt; text-align: center; vertical-align: bottom"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold; vertical-align: bottom"> </td> <td colspan="2" style="padding-bottom: 1pt; text-align: center; font-weight: bold; vertical-align: bottom">6/30/2025</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold; vertical-align: bottom"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold; vertical-align: bottom">1/1/2024</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold; vertical-align: bottom"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold; vertical-align: bottom">6/30/2024</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%; text-align: left">Accounts receivable, net</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--AccountsReceivableNetCurrent_iS_c20250101__20250630_zP5hanxLhMc4" style="width: 10%; text-align: right" title="Opening Balance">936,321</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--AccountsReceivableNetCurrent_iE_c20250101__20250630_zEolxYXWdVvg" style="width: 10%; text-align: right" title="Closing Balance">809,482</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--AccountsReceivableNetCurrent_iS_c20240101__20240630_zVUoTZaRYc39" style="width: 10%; text-align: right" title="Opening Balance">105,049</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--AccountsReceivableNetCurrent_iE_c20240101__20240630_ze8PTyOcxVfc" style="width: 10%; text-align: right" title="Closing Balance">26,161</td><td style="width: 1%; text-align: left"> </td></tr> </table> <p id="xdx_8AE_zfRjptcg0Cyd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Costs to Obtain a Contract</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sales commissions, the principal costs incurred to obtain a contract, are earned when the contract is executed. Management has capitalized these costs and amortized the commission expense over time in accordance with the related contract’s term. For the six months ended June 30, 2025 and 2024, commission expenses were $<span id="xdx_909_eus-gaap--SalesCommissionsAndFees_c20250101__20250630_zM7PNPJDNtBd" title="Commission expenses">269,172</span> and $<span id="xdx_90B_eus-gaap--SalesCommissionsAndFees_c20240101__20240630_zUf1OZwjykch" title="Commission expenses">270,335</span>, respectively. Certain commission expenses are not capitalized and are instead directly expensed.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Capitalized commissions at June 30, 2025 and December 31, 2024 were $<span id="xdx_905_eus-gaap--CapitalizedContractCostNetCurrent_iI_c20250630_zZo9dKf7VRM7" title="Capitalized commissions">52,616</span> and $<span id="xdx_907_eus-gaap--CapitalizedContractCostNetCurrent_iI_c20241231_zX0Oaydhkiab" title="Capitalized commissions">31,504</span>, respectively, and are included within prepaid expenses and other current assets on the condensed consolidated balance sheets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89A_eus-gaap--CapitalizedContractCostTableTextBlock_zaIWi82HX2Me" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following summarizes the costs to obtain a contract activity during the three and six months ended June 30, 2025:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B0_zPuynDFPgTIb" style="display: none">Schedule of Costs to Obtain Contract Activity</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%">Balance - December 31, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--CapitalizedContractCostNetCurrent_iS_c20250101__20250331_zfnn3I5BBfy2" style="width: 16%; text-align: right" title="Beginning Balance">31,504</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Commissions Incurred</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecustom--CommissionsIncurred_c20250101__20250331_zXAsDoamGKwi" style="text-align: right" title="Commissions incurred">57,237</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Deferred Commissions Recognized</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_ecustom--DeferredCommissionsRecognized_iN_di_c20250101__20250331_zUZ7FomYrF8j" style="border-bottom: Black 1pt solid; text-align: right" title="Deferred Commissions Recognized">(50,195</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0pt">Balance - March 31, 2025</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--CapitalizedContractCostNetCurrent_iS_c20250401__20250630_zCUlbMHuvdp3" style="text-align: right" title="Beginning Balance">38,546</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Commissions Incurred</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_ecustom--CommissionsIncurred_c20250401__20250630_zc9MMqOyrb7h" style="text-align: right" title="Commissions incurred">39,664</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Deferred Commissions Recognized</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_ecustom--DeferredCommissionsRecognized_iN_di_c20250401__20250630_zqvlJrlJhKuj" style="border-bottom: Black 1pt solid; text-align: right" title="Deferred Commissions Recognized">(25,594</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Balance - June 30, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_eus-gaap--CapitalizedContractCostNetCurrent_iE_c20250401__20250630_zDHaJUjOJsY6" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending Balance">52,616</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following summarizes the costs to obtain a contract activity during the three and six months ended June 30, 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%">Balance - December 31, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--CapitalizedContractCostNetCurrent_iS_c20240101__20240331_zh1Yzw8cusYe" style="width: 16%; text-align: right" title="Beginning Balance">51,472</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Commissions Incurred</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecustom--CommissionsIncurred_c20240101__20240331_zv1VPb4g1UAl" style="text-align: right" title="Commissions incurred">31,610</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Deferred Commissions Recognized</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_ecustom--DeferredCommissionsRecognized_iN_di_c20240101__20240331_zWoM8kjO3ISl" style="border-bottom: Black 1pt solid; text-align: right" title="Deferred Commissions Recognized">(44,620</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Balance - March 31, 2024</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--CapitalizedContractCostNetCurrent_iS_c20240401__20240630_zmn0TnWxe6s5" style="text-align: right" title="Beginning Balance">38,462</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Commissions Incurred</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_ecustom--CommissionsIncurred_c20240401__20240630_zK6F9Sd40mVf" style="text-align: right" title="Commissions incurred">48,316</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Deferred Commissions Recognized</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_ecustom--DeferredCommissionsRecognized_iN_di_c20240401__20240630_zLqpAjZrkgUf" style="border-bottom: Black 1pt solid; text-align: right" title="Deferred Commissions Recognized">(47,634</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Balance - June 30, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--CapitalizedContractCostNetCurrent_iE_c20240401__20240630_zcwhD11o60ef" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending Balance">39,144</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A8_zPtCkfATi1O6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> P30D The performance obligations identified include access to the suite and platform, within the parameters established, and within the standards established in the agreement. Contracts include a standalone selling price for the number of webinars and hosts as a performance obligation. There are no financing components and payments are typically net 30 of date or receipt of invoice. It is nearly 100% certain that a significant revenue reversal will not occur. The Company recognizes revenue for its sale of Demio services over time which corresponds with the period of time that access to the service is provided. The performance obligations identified include access to the suite and platform, within the parameters established, and within the standards established in the agreement. Contracts include a standalone selling price for the number of simultaneous published events as a performance obligation. There are no financing components and payments are typically net 30 of date or receipt of invoice. It is nearly 100% certain that a significant revenue reversal will not occur. The Company recognizes revenue for its sale of Reach services over time which corresponds with the timing the service is rendered. The Company enters into fixed price subscription contracts with customers, which can be monthly, annual, or multi-year agreements which auto-renew without discount for additional periods of the same duration as the initial term, unless either party requests termination in writing at least thirty (30) days prior to the end of the initial service term. The subscription revenues are recognized ratably over the term of the service agreement, which is considered an output method, as the obligation of hosting the SaaS product is fulfilled over the course of the agreement. The Company does not charge for implementation or recognize any revenues upfront due to minimal effort required. There are no financing components and payments are typically net 30 of date of receipt of invoice, or typically net 90 date of receipt of invoice for customers on multi-year subscription agreement contracts. It is nearly 100% certain that a significant revenue reversal will not occur. Customer contracting is achieved via self service and invoicing is initiated automatically once the customer accepts the terms and conditions on the platform, based on their selection of the desired subscription product. When execution or completion of the contract occurs, the contract is valid and revenue is earned when the service is provided for each period of performance, daily. The amount is paid by the customer based on the contract terms monthly, annually or indefinite with the majority paid via credit card processing. 177000 302055 <p id="xdx_894_eus-gaap--DisaggregationOfRevenueTableTextBlock_zq96g53XDXd1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes revenue by region based on the billing address of customers for the three months ended June 30, 2025 and 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B1_zEYVPBzB6gN8"> Summary of Revenue by Region</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">Percentage</p> <p style="margin-top: 0; margin-bottom: 0">of</p> <p style="margin-top: 0; margin-bottom: 0">Revenue</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">Percentage</p> <p style="margin-top: 0; margin-bottom: 0">of</p> <p style="margin-top: 0; margin-bottom: 0">Revenue</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 44%">Americas</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20250401__20250630__srt--StatementGeographicalAxis__srt--AmericasMember_zJaJcJAcLDed" style="width: 10%; text-align: right" title="Revenue">2,525,013</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20250401__20250630__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__srt--StatementGeographicalAxis__srt--AmericasMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember_zXFLMJCEnEWd" style="width: 10%; text-align: right" title="Concentration risk, percentage">77</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20240401__20240630__srt--StatementGeographicalAxis__srt--AmericasMember_zhml5YetVTdj" style="width: 10%; text-align: right" title="Revenue">587,712</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240401__20240630__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__srt--StatementGeographicalAxis__srt--AmericasMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember_zgkJ7Nz2h0A5" style="width: 10%; text-align: right" title="Concentration risk, percentage">55</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Europe, Middle East and Africa (EMEA)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20250401__20250630__srt--StatementGeographicalAxis__us-gaap--EMEAMember_z4glUmwPdwSg" style="text-align: right" title="Revenue">555,651</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20250401__20250630__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__srt--StatementGeographicalAxis__us-gaap--EMEAMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember_zekvmb8PSJTc" style="text-align: right" title="Concentration risk, percentage">17</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20240401__20240630__srt--StatementGeographicalAxis__us-gaap--EMEAMember_zrBojeQqg0y6" style="text-align: right" title="Revenue">360,666</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240401__20240630__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__srt--StatementGeographicalAxis__us-gaap--EMEAMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember_zRak2H3J5xJk" style="text-align: right" title="Concentration risk, percentage">34</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Asia Pacific</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20250401__20250630__srt--StatementGeographicalAxis__srt--AsiaPacificMember_zXuxc5vuo3K2" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue">181,586</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20250401__20250630__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__srt--StatementGeographicalAxis__srt--AsiaPacificMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember_zXxX3ntvhUL4" style="border-bottom: Black 1pt solid; text-align: right" title="Concentration risk, percentage">6</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20240401__20240630__srt--StatementGeographicalAxis__srt--AsiaPacificMember_zZYI8j4VIBhg" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue">119,819</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240401__20240630__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__srt--StatementGeographicalAxis__srt--AsiaPacificMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember_ziBeWm2hukli" style="border-bottom: Black 1pt solid; text-align: right" title="Concentration risk, percentage">11</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20250401__20250630_z5oMKLvAGcva" style="border-bottom: Black 2.5pt double; text-align: right" title="Revenue">3,262,250</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_980_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20250401__20250630__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember_z4JKAWc0Kvtk" style="border-bottom: Black 2.5pt double; text-align: right" title="Concentration risk, percentage">100</td><td style="padding-bottom: 2.5pt; text-align: left">%</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20240401__20240630_z3qw7WyLm3E8" style="border-bottom: Black 2.5pt double; text-align: right" title="Revenue">1,068,197</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_988_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240401__20240630__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember_zs6ZKzQJzDh3" style="border-bottom: Black 2.5pt double; text-align: right" title="Concentration risk, percentage">100</td><td style="padding-bottom: 2.5pt; text-align: left">%</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes revenue by region based on the billing address of customers for the six months ended June 30, 2025 and 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six Months Ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Percentage of Revenue</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Percentage of Revenue</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 44%">Americas</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20250101__20250630__srt--StatementGeographicalAxis__srt--AmericasMember_ztrynAJ1QoEc" style="width: 10%; text-align: right" title="Revenue">5,137,057</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20250101__20250630__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__srt--StatementGeographicalAxis__srt--AmericasMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember_z7LLKH8Zk8Sd" style="width: 10%; text-align: right" title="Concentration risk, percentage">77</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20240101__20240630__srt--StatementGeographicalAxis__srt--AmericasMember_zFeeFr59Zjid" style="width: 10%; text-align: right" title="Revenue">1,170,539</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240630__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__srt--StatementGeographicalAxis__srt--AmericasMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember_zHtUnff0CmO9" style="width: 10%; text-align: right" title="Concentration risk, percentage">55</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Europe, Middle East and Africa (EMEA)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20250101__20250630__srt--StatementGeographicalAxis__us-gaap--EMEAMember_zq6chexxPOm8" style="text-align: right" title="Revenue">1,112,122</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20250101__20250630__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__srt--StatementGeographicalAxis__us-gaap--EMEAMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember_zJ3gK6SIQAb2" style="text-align: right" title="Concentration risk, percentage">17</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20240101__20240630__srt--StatementGeographicalAxis__us-gaap--EMEAMember_zEnvUh73x6F" style="text-align: right" title="Revenue">746,916</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240630__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__srt--StatementGeographicalAxis__us-gaap--EMEAMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember_zmL3hFVDoQm9" style="text-align: right" title="Concentration risk, percentage">34</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Asia Pacific</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20250101__20250630__srt--StatementGeographicalAxis__srt--AsiaPacificMember_zoaL7kLwfgi4" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue">392,154</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20250101__20250630__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__srt--StatementGeographicalAxis__srt--AsiaPacificMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember_zD4L1zGoVmNi" style="border-bottom: Black 1pt solid; text-align: right" title="Concentration risk, percentage">6</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20240101__20240630__srt--StatementGeographicalAxis__srt--AsiaPacificMember_zZAfy7gsSm7j" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue">230,214</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240630__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__srt--StatementGeographicalAxis__srt--AsiaPacificMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember_zPql5Pr4VMK5" style="border-bottom: Black 1pt solid; text-align: right" title="Concentration risk, percentage">11</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20250101__20250630_z6vWT1vlGQ24" style="border-bottom: Black 2.5pt double; text-align: right" title="Revenue">6,641,333</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_984_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20250101__20250630__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember_zM0Dm5IxBu05" style="border-bottom: Black 2.5pt double; text-align: right" title="Concentration risk, percentage">100</td><td style="padding-bottom: 2.5pt; text-align: left">%</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20240101__20240630_zPkFz1OKGyKh" style="border-bottom: Black 2.5pt double; text-align: right" title="Revenue">2,147,669</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_985_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240630__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember_zp5Vt2kUnal5" style="border-bottom: Black 2.5pt double; text-align: right" title="Concentration risk, percentage">100</td><td style="padding-bottom: 2.5pt; text-align: left">%</td></tr> </table> 2525013 0.77 587712 0.55 555651 0.17 360666 0.34 181586 0.06 119819 0.11 3262250 1 1068197 1 5137057 0.77 1170539 0.55 1112122 0.17 746916 0.34 392154 0.06 230214 0.11 6641333 1 2147669 1 <p id="xdx_899_eus-gaap--ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock_zqsSqnV2nK0f" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BA_zAn4EXv2S204" style="display: none">Schedule of Accounts Receivable, Net</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center; vertical-align: bottom"> </td><td style="text-align: center; vertical-align: bottom"> </td> <td colspan="2" style="text-align: center; vertical-align: bottom"><span style="font-size: 10pt">  <b>Opening Balance</b>    </span></td><td style="text-align: center; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td> <td colspan="2" style="text-align: center; font-weight: bold; vertical-align: bottom">Closing Balance</td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td> <td colspan="2" style="text-align: center; font-weight: bold; vertical-align: bottom">Opening Balance</td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td> <td colspan="2" style="text-align: center; font-weight: bold; vertical-align: bottom">Closing Balance</td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center; vertical-align: bottom"> </td><td style="padding-bottom: 1pt; text-align: center; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom"><span style="font-size: 10pt">  <b>1/1/2025</b>    </span></td><td style="padding-bottom: 1pt; text-align: center; vertical-align: bottom"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold; vertical-align: bottom"> </td> <td colspan="2" style="padding-bottom: 1pt; text-align: center; font-weight: bold; vertical-align: bottom">6/30/2025</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold; vertical-align: bottom"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold; vertical-align: bottom">1/1/2024</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold; vertical-align: bottom"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold; vertical-align: bottom">6/30/2024</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%; text-align: left">Accounts receivable, net</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--AccountsReceivableNetCurrent_iS_c20250101__20250630_zP5hanxLhMc4" style="width: 10%; text-align: right" title="Opening Balance">936,321</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--AccountsReceivableNetCurrent_iE_c20250101__20250630_zEolxYXWdVvg" style="width: 10%; text-align: right" title="Closing Balance">809,482</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--AccountsReceivableNetCurrent_iS_c20240101__20240630_zVUoTZaRYc39" style="width: 10%; text-align: right" title="Opening Balance">105,049</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--AccountsReceivableNetCurrent_iE_c20240101__20240630_ze8PTyOcxVfc" style="width: 10%; text-align: right" title="Closing Balance">26,161</td><td style="width: 1%; text-align: left"> </td></tr> </table> 936321 809482 105049 26161 269172 270335 52616 31504 <p id="xdx_89A_eus-gaap--CapitalizedContractCostTableTextBlock_zaIWi82HX2Me" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following summarizes the costs to obtain a contract activity during the three and six months ended June 30, 2025:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B0_zPuynDFPgTIb" style="display: none">Schedule of Costs to Obtain Contract Activity</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%">Balance - December 31, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--CapitalizedContractCostNetCurrent_iS_c20250101__20250331_zfnn3I5BBfy2" style="width: 16%; text-align: right" title="Beginning Balance">31,504</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Commissions Incurred</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecustom--CommissionsIncurred_c20250101__20250331_zXAsDoamGKwi" style="text-align: right" title="Commissions incurred">57,237</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Deferred Commissions Recognized</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_ecustom--DeferredCommissionsRecognized_iN_di_c20250101__20250331_zUZ7FomYrF8j" style="border-bottom: Black 1pt solid; text-align: right" title="Deferred Commissions Recognized">(50,195</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0pt">Balance - March 31, 2025</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--CapitalizedContractCostNetCurrent_iS_c20250401__20250630_zCUlbMHuvdp3" style="text-align: right" title="Beginning Balance">38,546</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Commissions Incurred</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_ecustom--CommissionsIncurred_c20250401__20250630_zc9MMqOyrb7h" style="text-align: right" title="Commissions incurred">39,664</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Deferred Commissions Recognized</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_ecustom--DeferredCommissionsRecognized_iN_di_c20250401__20250630_zqvlJrlJhKuj" style="border-bottom: Black 1pt solid; text-align: right" title="Deferred Commissions Recognized">(25,594</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Balance - June 30, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_eus-gaap--CapitalizedContractCostNetCurrent_iE_c20250401__20250630_zDHaJUjOJsY6" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending Balance">52,616</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following summarizes the costs to obtain a contract activity during the three and six months ended June 30, 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%">Balance - December 31, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--CapitalizedContractCostNetCurrent_iS_c20240101__20240331_zh1Yzw8cusYe" style="width: 16%; text-align: right" title="Beginning Balance">51,472</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Commissions Incurred</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecustom--CommissionsIncurred_c20240101__20240331_zv1VPb4g1UAl" style="text-align: right" title="Commissions incurred">31,610</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Deferred Commissions Recognized</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_ecustom--DeferredCommissionsRecognized_iN_di_c20240101__20240331_zWoM8kjO3ISl" style="border-bottom: Black 1pt solid; text-align: right" title="Deferred Commissions Recognized">(44,620</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Balance - March 31, 2024</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--CapitalizedContractCostNetCurrent_iS_c20240401__20240630_zmn0TnWxe6s5" style="text-align: right" title="Beginning Balance">38,462</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Commissions Incurred</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_ecustom--CommissionsIncurred_c20240401__20240630_zK6F9Sd40mVf" style="text-align: right" title="Commissions incurred">48,316</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Deferred Commissions Recognized</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_ecustom--DeferredCommissionsRecognized_iN_di_c20240401__20240630_zLqpAjZrkgUf" style="border-bottom: Black 1pt solid; text-align: right" title="Deferred Commissions Recognized">(47,634</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Balance - June 30, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--CapitalizedContractCostNetCurrent_iE_c20240401__20240630_zcwhD11o60ef" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending Balance">39,144</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 31504 57237 50195 38546 39664 25594 52616 51472 31610 44620 38462 48316 47634 39144 <p id="xdx_800_eus-gaap--FairValueDisclosuresTextBlock_zQQA92nFtFZ2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>7. <span id="xdx_82A_zWk2N8vINAKl">Fair Value Measurements</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The fair value measurements discussed herein are based upon certain market assumptions and pertinent information available to management as of and during the periods ended June 30, 2025 and the year ended December 31, 2024. The carrying amount of accounts payable approximated fair value as they are short term in nature.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Fair Value on a Recurring Basis</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company follows the guidance in ASC 820 <i>Fair Value Measurements and Disclosures</i> for its financial assets and liabilities that are re-measured and reported at fair value at each reporting period, and non-financial assets and liabilities that are re-measured and reported at fair value at least annually. The estimated fair value of the Public Warrants liabilities represent Level 1 measurements. The estimated fair value of the convertible notes bifurcated embedded derivative asset, GEM warrant liabilities, Yorkville convertible note, Agile term notes, 1800 Diagonal convertible notes and Goodwill and Definite-lived intangible assets recognized as part of acquisitions, represent Level 3 measurements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_891_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_zN1llhEnGw0f" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents information about the Company’s financial instruments that are measured at fair value on a recurring basis at June 30, 2025 and December 31, 2024, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8BD_zYctTD7pw36f">Schedule of Fair Value on Recurring Basis</span></span></span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Description</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Level</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250630_zCLe4YsUeny4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20241231_zr3iE4j5iSj2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Assets:</td><td> </td> <td style="vertical-align: bottom; text-align: center"> </td><td style="vertical-align: bottom; text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeAsset_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z5qvWpz3fE29" style="vertical-align: bottom; background-color: White"> <td style="width: 46%; text-align: left">Bifurcated embedded derivative asset - related party</td><td style="width: 2%"> </td> <td style="vertical-align: bottom; width: 1%; text-align: center"> </td><td style="vertical-align: bottom; width: 14%; text-align: center">3</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">63,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_ecustom--DefiniteLivedIntangiblesAtAcquisitionDate_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z1AEijXwRyXd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Definite-lived intangibles<span id="xdx_F42_zOJjdStmT0u8">*</span></td><td> </td> <td style="vertical-align: bottom; text-align: center"> </td><td style="vertical-align: bottom; text-align: center">3</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,903,320</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,903,320</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--DefiniteLivedIntangiblesMeasuredAtImpairmentTesting_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zts1o3UmDyNa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Definite-lived intangibles<span id="xdx_F49_zvOTtmrxCfMd">**</span></td><td> </td> <td style="vertical-align: bottom; text-align: center"> </td><td style="vertical-align: bottom; text-align: center">3</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">8,635,827</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,883,853</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--Goodwill_iI_hus-gaap--StatementBusinessSegmentsAxis__custom--VidelloMember_zdl9FLjwwFhk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Goodwill - Vidello (<i>Note 4</i>)<span id="xdx_F4F_zq11KRlfSKpg">*</span></span></td><td> </td> <td style="vertical-align: bottom; text-align: center"> </td><td style="vertical-align: bottom; text-align: center">3</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,019,246</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1501">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--Goodwill_iI_zi7DQKd9iald" style="vertical-align: bottom; background-color: White"> <td>Goodwill<span id="xdx_F41_zm5SQB0kmkLj">**</span></td><td> </td> <td style="vertical-align: bottom; text-align: center"> </td><td style="vertical-align: bottom; text-align: center">3</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">21,991,721</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">18,972,475</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Liabilities:</td><td> </td> <td style="vertical-align: bottom; text-align: center"> </td><td style="vertical-align: bottom; text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Warrant liabilities - public</td><td> </td> <td style="vertical-align: bottom; text-align: center"> </td><td style="vertical-align: bottom; text-align: center">1</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_982_ecustom--WarrantLiabilitiesPublic_iI_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zsYkqYo3bu8d" style="text-align: right" title="Warrant liabilities public">4,600</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_ecustom--WarrantLiabilitiesPublic_iI_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zVWTFjqtTecd" style="text-align: right" title="Warrant liabilities public">2,300</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--GEMWarrantLiabilities_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zCwhmcyO7Ide" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">GEM warrant liabilities</td><td> </td> <td style="vertical-align: bottom; text-align: center"> </td><td style="vertical-align: bottom; text-align: center">3</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">15,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--NotesPayable_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zklLdbPYTr1h" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Agile term notes</td><td> </td> <td style="vertical-align: bottom; text-align: center"> </td><td style="vertical-align: bottom; text-align: center">3</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">4,131,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,143,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--ConvertibleNotesPayable_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zLflR4toZUc4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">1800 Diagonal convertible notes</td><td> </td> <td style="vertical-align: bottom; text-align: center"> </td><td style="vertical-align: bottom; text-align: center">3</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">530,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">432,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--ConvertibleDebtFairValueDisclosures_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z0DEbMSwykO6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Private Placement Convertible Notes</td><td> </td> <td style="vertical-align: bottom; text-align: center"> </td><td style="vertical-align: bottom; text-align: center">3</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,676,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1520">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--PrivatePlacementWarrants_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zRUHqlyEtD7d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Private Placement Warrants</td><td> </td> <td style="vertical-align: bottom; text-align: center"> </td><td style="vertical-align: bottom; text-align: center">3</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">361,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1523">—</span></td><td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td id="xdx_F02_zoXGrJ8m7Kn5" style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td><td style="text-align: justify"><span id="xdx_F17_zdrt016C1x48" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain assets measured at the acquisition date.</span></td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span id="xdx_F07_z2jDlmOeSjBi" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">**</span></td><td style="text-align: justify"><span id="xdx_F13_zsSzaEKyjkZ2" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Measured at period-end.</span></td> </tr></table> <p id="xdx_8AF_ztghcOh8mHI6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Warrant Liability - Public Warrants</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company assumed Public Warrants in the Merger, exercisable into <span id="xdx_904_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20250630__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember_zvk3zt3A5upb" title="Warrants outstanding"><span id="xdx_90B_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember_zraCosyi2G9k" title="Warrants outstanding">23,000</span></span> shares of Common A Common Stock, which were outstanding as of June 30, 2025 and December 31, 2024. The fair values of the Public Warrants are measured based on the listed market price of such warrants through June 30, 2025. See <i>Note 14 - Warrant Liabilities </i>for further details.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the six months ended, June 30, 2025, the Company recognized a loss of approximately $<span id="xdx_903_eus-gaap--FairValueAdjustmentOfWarrants_c20250101__20250630__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember_zjidLvxOBx85" title="Gain (loss) resulting from a decrease/(increase) in fair value of derivative warrant liabilities">2,300</span> resulting from changes in the fair value of the derivative warrant liabilities, presented as change in fair value of warrant liabilities - related party in the accompanying condensed consolidated statements of operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_899_ecustom--SummaryOfChangesInTheFairValueOfTheWarrantsLiabilityTableTextBlock_hus-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsLiabilityMember_zDD9gM7aRLad" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following tables set forth a summary of the changes in the fair value of the Public Warrants liability which are Level 1 financial liabilities that are measured at fair value on a recurring basis:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BD_zXv4so7jcJjb">Summary of Changes in the Fair Value of the Warrants Liability</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_43B_c20250101__20250331__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsLiabilityMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_ecustom--PublicWarrantsLiability_iS_zXKcgnvkrWa1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%">Balance at December 31, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,300</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--ChangeInFairValueOfPublicWarrantsLiability_hus-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsLiabilityMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_ziA8Ed6tLGi9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,300</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_43B_c20250401__20250630__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsLiabilityMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_ecustom--PublicWarrantsLiability_iS_zd0z2jHKCCYf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance at March 31, 2025</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">4,600</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--ChangeInFairValueOfPublicWarrantsLiability_hus-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsLiabilityMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z9yc0AVnlJa6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_43C_c20250401__20250630__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsLiabilityMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_ecustom--PublicWarrantsLiability_iE_zwUiIPU0XCV1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Balance at June 30, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,600</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AB_zyPf3YNHi5ua" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Warrant Liability - GEM Warrants</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The measurement of fair value of the GEM Warrants were determined utilizing a Monte Carlo simulation considering all relevant assumptions current at the date of issuance (i.e., share price, exercise price, term, volatility, risk-free rate, probability of dilutive term of three years, and expected time to conversion). Refer to <i>Note 14 - Warrant Liabilities</i> for further details.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the six months ended, June 30, 2025, the Company recognized a gain of approximately $<span id="xdx_909_eus-gaap--FairValueAdjustmentOfWarrants_c20250101__20250630__us-gaap--ClassOfWarrantOrRightAxis__custom--GemWarrantsLiabilityMember_zqIBYnL4p4c8" title="Gain (loss) resulting from a decrease/(increase) in fair value of derivative warrant liabilities">12,000</span>, resulting from changes in the fair value of the derivative warrant liabilities, presented as change in fair value of warrant liabilities in the accompanying condensed consolidated statements of operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_898_ecustom--SummaryOfChangesInTheFairValueOfTheWarrantsLiabilityTableTextBlock_hus-gaap--ClassOfWarrantOrRightAxis__custom--GemWarrantsLiabilityMember_zfzo5hY61aVb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following tables set forth a summary of the changes in the fair value of the GEM Warrants liability which are Level 3 financial liabilities that are measured at fair value on a recurring basis:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B9_zcIFXtWg1xP3">Summary of Changes in the Fair Value of the Warrants Liability</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%">Balance at December 31, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_ecustom--GemWarrantsLiability_iS_c20250101__20250331__us-gaap--ClassOfWarrantOrRightAxis__custom--GemWarrantsLiabilityMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zYtAz7lP0KFd" style="width: 16%; text-align: right" title="Change in fair value, Beginning balance">15,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_ecustom--ChangeInFairValueOfGemWarrantsLiability_c20250101__20250331__us-gaap--ClassOfWarrantOrRightAxis__custom--GemWarrantsLiabilityMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zcgwus2optMl" style="border-bottom: Black 1pt solid; text-align: right" title="Change in fair value">(4,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance at March 31, 2025</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecustom--GemWarrantsLiability_iS_c20250401__20250630__us-gaap--ClassOfWarrantOrRightAxis__custom--GemWarrantsLiabilityMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zzGuOrdIX1uj" style="text-align: right" title="Change in fair value, Beginning balance">11,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_ecustom--ChangeInFairValueOfGemWarrantsLiability_c20250401__20250630__us-gaap--ClassOfWarrantOrRightAxis__custom--GemWarrantsLiabilityMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zlhmDwZbVW4e" style="border-bottom: Black 1pt solid; text-align: right" title="Change in fair value">(8,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Balance at June 30, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_ecustom--GemWarrantsLiability_iE_c20250401__20250630__us-gaap--ClassOfWarrantOrRightAxis__custom--GemWarrantsLiabilityMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zuSQ7jAq2k1h" style="border-bottom: Black 2.5pt double; text-align: right" title="Change in fair value, Ending balance">3,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AF_zAVB7RJ59LTf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Yorkville Convertible Notes</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The measurement of fair value of the Yorkville convertible notes were determined utilizing a Monte Carlo simulation considering all relevant assumptions current at the date of issuance (i.e., share price, term, volatility, risk-free rate, and probability of optional redemption). Refer to <i>Note 13 - Debt</i> for further details.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the six months ended, June 30, 2025, the Company recognized a loss of approximately $<span id="xdx_904_ecustom--FairValueAdjustmentOfConvertibleNote_c20250101__20250630__us-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zpqiq3YQ7brf" title="Loss of changes in the fair value of the Yorkville convertible note">238,000</span> resulting from changes in the fair value of the Yorkville convertible notes, presented as change in fair value of convertible promissory notes in the accompanying condensed consolidated statements of operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p id="xdx_896_ecustom--SummaryOfChangesInFairValueOfConvertibleNoteTableTextBlock_zyCDj6CoonZk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following tables set forth a summary of the changes in the fair value of the Yorkville convertible notes which is a Level 3 financial liability measured at fair value on a recurring basis:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B8_zMWB0RaGZbzc">Summary of Changes In Fair Value Of Yorkville Convertible Note</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_491_20250101__20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleDebtMember_z9OJIPX02b4a"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Fair Value</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_400_eus-gaap--ConvertibleDebt_iS_z9X9WVIEvjud" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif">Balance at December 31, 2024</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl1558">-</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40D_ecustom--IssuanceOfYorkvilleConvertibleNote_zMNqGmKSBL4h" style="vertical-align: bottom; background-color: White"> <td style="width: 80%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Issuance of Yorkville convertible note</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,150,000</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_ecustom--GainsLossesOnDebtIssuance_zcxBfF8IH9ul" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Loss on debt issuance</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">252,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_404_eus-gaap--RepaymentsOfConvertibleDebt_iN_di_zEGYPXEOFcE7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Repayment in cash of Yorkville convertible notes</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(3,640,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_403_ecustom--ChangeInFairValueOfYorkvilleConvertibleNote_z7RTgwtVaCMl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Change in fair value</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">238,000</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_401_eus-gaap--ConvertibleDebt_iE_zQp5HmNbYjz8" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Balance at June 30, 2025</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl1568">—</span></span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p id="xdx_8A2_zhTnLU1mYQ4l" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Bifurcated Embedded Derivative Assets</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The fair value of the embedded put options, relating to the Convertible Note to CP BF issued on September 23, 2024<i>,</i> was determined using a Black Scholes option pricing model. Estimating fair values of embedded conversion features requires the development of significant and subjective estimates that may, and are likely to, change over the duration of the instrument with related changes in internal and external market factors. Because the embedded conversion features are initially and subsequently carried at fair values, the Company’s consolidated statements of operations will reflect the volatility in these estimate and assumption changes. The bifurcated embedded derivative net asset was $<span id="xdx_900_ecustom--BifurcatedEmbeddedDerivativeLiabilitiesCurrent_c20250101__20250630_zH2Te0HBIpOi" title="Bifurcated embedded derivative liabilities">1,000</span> as of June 30, 2025. Refer to <i>Note 13 - Debt</i> for further details.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p id="xdx_892_eus-gaap--ScheduleOfDerivativeAssetsAtFairValueTableTextBlock_zHiOhmo7YR62" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table sets forth a summary of the changes in the fair value of the bifurcated embedded derivative asset for the six months ended June 30, 2025, relating to the Convertible Note to CP BF issued on September 23, 2024, which are Level 3 financial liabilities that are measured at fair value on a recurring basis:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BF_zMg7FSQDGopg">Schedule of Derivate Assets</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fair Value</b></span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>CP BF Convertible</i></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 80%"><span style="font-family: Times New Roman, Times, Serif">Balance at December 31, 2024</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_984_eus-gaap--DerivativeAssetsLiabilitiesAtFairValueNet_iS_c20250101__20250331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--DebtInstrumentAxis__custom--CpBfConvertibleNotesMember_zW85E2iFF5w5" style="width: 16%; text-align: right" title="Change in fair value, Beginning balance"><span style="font-family: Times New Roman, Times, Serif">63,000</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Change in fair value</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_984_eus-gaap--EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet_c20250101__20250331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--DebtInstrumentAxis__custom--CpBfConvertibleNotesMember_zLAMTF3oxNz" style="text-align: right" title="Change in fair value"><span style="font-family: Times New Roman, Times, Serif">(43,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Balance at March 31, 2025</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98C_eus-gaap--DerivativeAssetsLiabilitiesAtFairValueNet_iS_c20250401__20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--DebtInstrumentAxis__custom--CpBfConvertibleNotesMember_zAiXCAq7iAe8" style="text-align: right" title="Change in fair value, Beginning balance"><span style="font-family: Times New Roman, Times, Serif">20,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Change in fair value</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_986_eus-gaap--EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet_c20250401__20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--DebtInstrumentAxis__custom--CpBfConvertibleNotesMember_zHRVpyCbJt94" style="text-align: right" title="Change in fair value"><span style="font-family: Times New Roman, Times, Serif">(19,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Balance at June 30, 2025</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_988_eus-gaap--DerivativeAssetsLiabilitiesAtFairValueNet_iE_c20250401__20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--DebtInstrumentAxis__custom--CpBfConvertibleNotesMember_zL5uKutuwKP1" style="text-align: right" title="Change in fair value, Ending balance"><span style="font-family: Times New Roman, Times, Serif">1,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p id="xdx_8AC_zN2c8J8ZMEC3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Term Notes (Agile)</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 22, 2024, September 13, 2024, December 12, 2024, March 31, 2025, and June 12, 2025, the Company entered into term loan promissory note agreements with Agile Lending, LLC, and Agile Capital Funding, LLC, as the collateral agent, as discussed further in <i>Note 13 - Debt</i> of the notes to the condensed consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair value measurements discussed herein are based upon certain market assumptions and pertinent information available to management as of June 30, 2025. The Company classified the Agile Term Notes as a Level 3 fair value measurement and used a discounted cash flow model to calculate the fair values as of June 30, 2025 and December 31, 2024, respectively. Key inputs for the valuation are summarized below. The discounted cash flow model uses inputs such as the contractual term of the note and a market participant interest rate.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p id="xdx_894_eus-gaap--FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_zyEZ8VMocJe8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The range of key inputs at issuance of the Agile term notes and for the period ended June 30, 2025 and December 31, 2024, were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B1_z91bh5TORVtk" style="display: none">Schedule of Range of key Inputs at Issuance</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">March 2025 Agile Note</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 2025 Agile Note</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Key Inputs</span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">March 31, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 12, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 38%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Contractual term (years)</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_90C_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_c20250630__us-gaap--FinancialInstrumentAxis__custom--MarchTwoThousandTwentyFiveAgileNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember_zdZjE4Sg1lD1" title="Debt instrument, measurement input">0.38</span></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 13%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_909_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_c20250331__us-gaap--FinancialInstrumentAxis__custom--MarchTwoThousandTwentyFiveAgileNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember_zpG9dXWOPtMf" title="Debt instrument, measurement input">0.62</span></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_909_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_c20250630__us-gaap--FinancialInstrumentAxis__custom--JuneTwoThousandTwentyFiveAgileNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember_zkoLP963Ht8f" title="Debt instrument, measurement input">0.47</span></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_90E_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_c20250612__us-gaap--FinancialInstrumentAxis__custom--JuneTwoThousandTwentyFiveAgileNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember_z0BotvvhEyPl" title="Debt instrument, measurement input">0.52</span></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Interest rate</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_905_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_c20250630__us-gaap--FinancialInstrumentAxis__custom--MarchTwoThousandTwentyFiveAgileNoteMember__us-gaap--MeasurementInputTypeAxis__custom--MeasurementInputInterestRateMember__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember_zF8cyBjwn3I4" title="Debt instrument, measurement input">14.59</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_909_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_c20250331__us-gaap--FinancialInstrumentAxis__custom--MarchTwoThousandTwentyFiveAgileNoteMember__us-gaap--MeasurementInputTypeAxis__custom--MeasurementInputInterestRateMember__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember_z1H0bZvjdCJc" title="Debt instrument, measurement input">13.12</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_909_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_c20250630__us-gaap--FinancialInstrumentAxis__custom--JuneTwoThousandTwentyFiveAgileNoteMember__us-gaap--MeasurementInputTypeAxis__custom--MeasurementInputInterestRateMember__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember_z0CLpyuFbEta" title="Debt instrument, measurement input">14.54</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_906_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_c20250612__us-gaap--FinancialInstrumentAxis__custom--JuneTwoThousandTwentyFiveAgileNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--ValuationTechniqueAxis__custom--MeasurementInputInterestRateMember_zNwOYgif7xo9" title="Debt instrument, measurement input">15.95</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> </table> <p id="xdx_8A7_ziSA0PljGDWj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Refer to <i>Note 13 - Debt</i>, for a summary of the changes in the fair value of the Agile term notes which are Level 3 financial liabilities measured at fair value on a recurring basis.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Convertible Notes (1800 Diagonal)</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On August 16, 2024, September 24, 2024, December 10, 2024, February 7, 2025, April 17, 2025 and May 9, 2025 the Company entered into convertible promissory notes with 1800 Diagonal Lending, LLC, as discussed further in <i>Note 13 - Debt</i> of the notes to the condensed consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair value measurements discussed herein are based upon certain market assumptions and pertinent information available to management as of June 30, 2025. The Company classified these notes as Level 3 financial liabilities and used the Black-Scholes option pricing model to calculate the fair values as of June 30, 2025, May 9, 2025, April 17, 2025, March 31, 2025, February 7, 2025 and December 10, 2024. Key inputs for the simulation are summarized below. The Black-Scholes simulation uses inputs such as the stock price, volatility, the contractual term of the note, risk free interest rates and dividend yields.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_890_eus-gaap--FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_hus-gaap--FinancialInstrumentAxis__custom--DiagonalConvertibleNotesMember_zWaar6jHVK72" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The range of key inputs for the Black-Scholes simulations at issuance of the 1800 Diagonal convertible notes and for the period ended June 30, 2025 and December 31, 2024, were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B8_z8YeffInyXH5" style="display: none">Schedule of Range of key Inputs at Issuance</span></span>  </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Key Inputs</span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_496_20250630__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueOptionPricingModelMember__us-gaap--FinancialInstrumentAxis__custom--September1800DiagonalNoteMember_zrOE08BreCZg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49D_20241231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueOptionPricingModelMember__us-gaap--FinancialInstrumentAxis__custom--September1800DiagonalNoteMember_zIP6yMu57pUj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">December 31, 2024</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49C_20250630__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueOptionPricingModelMember__us-gaap--FinancialInstrumentAxis__custom--December1800DiagonalNoteMember_zxSPy10vVQZ1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49E_20241231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueOptionPricingModelMember__us-gaap--FinancialInstrumentAxis__custom--December1800DiagonalNoteMember_zO4hkPRKjhlj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">December 31, 2024</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_490_20250630__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueOptionPricingModelMember__us-gaap--FinancialInstrumentAxis__custom--February1800DiagonalNoteMember_zcqedQFJxrs3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49F_20250207__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueOptionPricingModelMember__us-gaap--FinancialInstrumentAxis__custom--February1800DiagonalNoteMember_zG3bmvG8egJl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">February 7, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49F_20250630__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueOptionPricingModelMember__us-gaap--FinancialInstrumentAxis__custom--April1800DiagonalNoteMember_z06EM2iMRa13" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_490_20250417__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueOptionPricingModelMember__us-gaap--FinancialInstrumentAxis__custom--April1800DiagonalNoteMember_zgSiiuhyeah5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">April 17, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_494_20250630__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueOptionPricingModelMember__us-gaap--FinancialInstrumentAxis__custom--May1800DiagonalNoteMember_zh3iOnXrAu67" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_499_20250509__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueOptionPricingModelMember__us-gaap--FinancialInstrumentAxis__custom--May1800DiagonalNoteMember_zjmn6JLCb1cl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">May 9, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">September 1800<br/> Diagonal Note</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">December 1800<br/> Diagonal Note</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">February 1800<br/> Diagonal Note</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">April 1800<br/> Diagonal Note</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">May 1800<br/> Diagonal Note</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Key Inputs</span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">December 31, 2024</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">December 31, 2024</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">February 7, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">April 17, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">May 9, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40E_ecustom--DebtInstrumentMeasurement_iI_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember_zDC2zu72eyS4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 30%"><span style="font-family: Times New Roman, Times, Serif">Stock price</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 3%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">5.89</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 3%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1.53</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 3%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">5.89</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 3%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1.53</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 3%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">5.89</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 3%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1.51</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 3%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">5.89</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 3%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">10.56</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 3%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">5.89</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 3%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">9.98</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_400_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zGHQQ9LLfs66" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Contractual term (years)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.08</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.59</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.30</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.80</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.47</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.86</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.64</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.84</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.64</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.78</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_400_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zE3S5zGnUCBg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Risk-free rate</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">4.19</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">4.23</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">4.19</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">4.19</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">4.19</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">4.22</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">4.20</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">4.16</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">4.20</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">4.21</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr id="xdx_405_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zR3yMdmXX5Fb" style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Volatility<span id="xdx_F46_ziAvWGZG5swe">(1)</span></span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">141</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">264</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">100</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">232</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">96</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">237</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">123</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">160</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">123</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">143</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr id="xdx_409_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_hus-gaap--MeasurementInputTypeAxis__custom--MeasurementInputMaturityProbabilityMember_zr02aqcCPvR9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Maturity probability</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">98</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">80</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">90</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">75</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">90</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">75</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">85</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">80</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">85</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">80</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr id="xdx_403_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_hus-gaap--MeasurementInputTypeAxis__custom--MeasurementInputDefaultProbabilityMember_z49xZg3yJcY6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Default probability</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">2</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">20</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">10</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">25</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">10</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">25</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">15</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">20</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">15</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">20</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr id="xdx_400_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zIrwF069ji7d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Dividend yield</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.00</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.00</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.00</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.00</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.00</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.00</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.00</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.00</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.00</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.00</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr id="xdx_401_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zG1wwkrlaj24" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Debt Instrument, Measurement Input</td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.00</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.00</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.00</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.00</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.00</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.00</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.00</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.00</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.00</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.00</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td id="xdx_F03_znJoW4lBCoEi" style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">⁽¹⁾</span></td><td style="text-align: justify"><span id="xdx_F15_zQEXhPrKTazb" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company utilized historical equity volatility in measurement of the fair value of the notes.</span></td> </tr></table> <p id="xdx_8A0_zT5AFHL60ny8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Refer to <i>Note 13 - Debt</i>, for a summary of the changes in the fair value of the 1800 Diagonal convertible notes which are Level 3 financial liabilities measured at fair value on a recurring basis.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Private Placement Offering (3i, LP)</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 27, 2025, the Company entered into a securities purchase agreement (the “Purchase Agreement”) with an institutional investor, 3i, LP (the “Buyer”) for the issuance and sale in a private placement (the “Private Placement Offering”) of senior secured convertible notes of the Company, in the aggregate original principal amount of $<span id="xdx_90E_eus-gaap--DebtInstrumentFaceAmount_iI_c20250627__us-gaap--DebtInstrumentAxis__custom--PrivatePlacementNotesMember__us-gaap--LineOfCreditFacilityAxis__custom--ThreeILPMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember_zdwBZyQ4zqNg" title="Debt principal amount, total">11,000,000</span> (the “Private Placement Convertible Notes”) which Notes shall be convertible into shares of common stock, par value $<span id="xdx_906_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20250627__us-gaap--DebtInstrumentAxis__custom--PrivatePlacementNotesMember__us-gaap--LineOfCreditFacilityAxis__custom--ThreeILPMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember_zLQM4Afvl9r6" title="Common stock par value">0.0001</span>, of the Company (the “Common Stock”) (the shares of Common Stock issuable pursuant to the terms of the Notes, including, without limitation, upon conversion or otherwise, collectively, the “Conversion Shares”), in accordance with the terms of the Notes. The Buyer purchased (i) a Note in the aggregate original principal amount of $<span id="xdx_90E_eus-gaap--DebtInstrumentFaceAmount_iI_c20250627__us-gaap--DebtInstrumentAxis__custom--PrivatePlacementNotesMember__us-gaap--LineOfCreditFacilityAxis__custom--ThreeILPMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember_zGlk99Domibf" title="Debt principal amount, total">11,000,000 </span>and (ii) a warrant to initially acquire up to <span id="xdx_90F_ecustom--WarrantsIssued_c20250627__20250627__us-gaap--DebtInstrumentAxis__custom--PrivatePlacementNotesMember__us-gaap--LineOfCreditFacilityAxis__custom--ThreeILPMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember_zwFkaxBt81Ch" title="Warrants issued">67,124</span> shares of Common Stock (the “Buyer Warrants”) (as exercised, collectively, the “Warrant Shares”). In connection with the Private Placement Offering, the Company has also entered into a letter agreement dated April 30, 2025 (the “Letter Agreement”) with Rodman &amp; Renshaw LLC as the exclusive financial advisor (the “Financial Advisor”) pursuant to which the Company has agreed to issue financial advisor warrants to purchase up to an aggregate of <span id="xdx_909_ecustom--WarrantsIssued_c20250627__20250627__us-gaap--DebtInstrumentAxis__custom--PrivatePlacementWarrantsMember__us-gaap--LineOfCreditFacilityAxis__custom--ThreeILPMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember_zZpUzFZrhggj" title="Warrants issued">21,212</span> shares of Common Stock (the “Financial Advisor Warrants”, together with the Buyer Warrants, the “Private Placement Warrants”). Refer to <i>Note 13 - Debt</i>, for a summary of the changes in the fair value of the Private Placement Convertible Notes which are Level 3 financial liabilities measured at fair value on a recurring basis, and to <i>Note 16 - Equity</i> for a description of the warrants issued in connection with the Private Placement Offering, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Warrant Liability - Private Placement Warrants</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The measurement of fair value of the Private Placement Warrants were determined utilizing a Monte Carlo simulation considering all relevant assumptions current at the date of issuance (i.e., share price, exercise price, term, volatility, risk-free rate, probability of dilutive term of three years, and expected time to conversion). Refer to <i>Note 14 - Warrant Liabilities</i> for further details.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the six months ended, June 30, 2025, the Company recognized a loss on issuance of $<span id="xdx_901_ecustom--IssuanceOfPrivatePlacement_c20250101__20250630_zKpeJmcL9AP5" title="Issuance of private placement">361,000</span>, presented within loss on private placement issuance in the accompanying condensed consolidated statements of operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89B_eus-gaap--FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputReconciliationTableTextBlock_zkZsSjOaMtSe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following tables set forth a summary of the inputs to and the changes in the fair value of the Private Placement Warrant liability which are Level 3 financial liabilities that are measured at fair value on a recurring basis:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span id="xdx_8B2_zcONgFwHlF0d" style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Summary of Inputs in Fair Value of the Private Placement Warrant Liability</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Key Inputs</span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%"><span style="font-family: Times New Roman, Times, Serif">Stock price</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_90D_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uPure_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember_zB2l0xXdnz16" title="Measurement Input">5.89</span></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Contractual term (years)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_900_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uPure_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__srt--RangeAxis__srt--MinimumMember_zgiqvgLK1HH" title="Measurement Input">3.0</span> - <span id="xdx_906_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uPure_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__srt--RangeAxis__srt--MaximumMember_zwGsMRqpBRI7" title="Measurement Input">5.0</span>  </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Risk-free rate</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90A_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uPure_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__srt--RangeAxis__srt--MinimumMember_zJm9IGkAn7hf" title="Measurement Input">3.7</span> - <span id="xdx_90D_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uPure_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__srt--RangeAxis__srt--MaximumMember_z6ui1fyCrYoj" title="Measurement Input">3.8</span> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Volatility(1)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90A_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uPure_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__srt--RangeAxis__srt--MinimumMember_zkFD3jM9mgS" title="Measurement Input">94.0</span>% - <span id="xdx_906_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uPure_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__srt--RangeAxis__srt--MaximumMember_zHJAD208lEAc" title="Measurement Input">119.0</span> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif">Exercise Price</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_900_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uPure_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExercisePriceMember__srt--RangeAxis__srt--MinimumMember_zfm9dEWuSOU4" title="Measurement Input">6.60</span>-$<span id="xdx_908_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uPure_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExercisePriceMember__srt--RangeAxis__srt--MaximumMember_zT5WinurfVJi" title="Measurement Input">8.25</span>  </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Dividend yield</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_90F_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uPure_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember__srt--RangeAxis__srt--MinimumMember_znt9X1vPDeO2" title="Measurement Input">0.00</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none">Summary of Inputs in Fair Value of the Private Placement Warrant Liability </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Fair Value</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif">Balance at December 31, 2024</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Balance at March 31, 2025</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Loss on issuance</span></td><td style="width: 2%; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">361,000</span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Balance at June 30, 2025</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">361,000</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p id="xdx_8A4_zXUm6Zfhfglf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company determined that the Private Placement Convertible Note was eligible for the fair value option election in accordance with ASC 825-10-50-28, and made such election to account for the Private Placement Convertible Note at fair value. The Company estimated the fair value of the Private Placement Convertible Note at issuance using a Monte Carlo simulation, using the following key inputs: principal on the Private Placement Convertible Note of $<span id="xdx_90C_eus-gaap--DebtInstrumentFaceAmount_iI_c20250630__us-gaap--LongtermDebtTypeAxis__custom--PrivatePlacementOffering3ILPMember_zbyLYNX2Lbe8" title="Debt principal amount, Total">2,200,000</span>; remaining term of <span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20250101__20250630__us-gaap--LongtermDebtTypeAxis__custom--PrivatePlacementOffering3ILPMember_zJfXnI1lKfU1" title="Expected term (in years)">1.0 </span>years; a market interest rate of <span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsDiscountForPostvestingRestrictions_c20250101__20250630__us-gaap--LongtermDebtTypeAxis__custom--PrivatePlacementOffering3ILPMember_zECM4UQsaGrd" title="Discounted market interest rate">10</span>%; a risk-free rate of <span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_dp_uPure_c20250101__20250630__us-gaap--LongtermDebtTypeAxis__custom--PrivatePlacementOffering3ILPMember_zgI4V5Jvee44" title="Risk-free interest rate">3.88</span>%; equity volatility of <span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp_uPure_c20250101__20250630__us-gaap--LongtermDebtTypeAxis__custom--PrivatePlacementOffering3ILPMember_zQyMPpUILFzf" title="Expected volatility">180.0</span>%; and probability of default of <span id="xdx_90A_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsProbabilityOptionalRedemptionRate_dp_uPure_c20250101__20250630__us-gaap--LongtermDebtTypeAxis__custom--PrivatePlacementOffering3ILPMember_zz2He1l9rEvg" title="Probability of optional redemption rate">28.7</span>%. Refer to <i>Note 13 - Debt</i> for further details.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_891_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_zN1llhEnGw0f" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents information about the Company’s financial instruments that are measured at fair value on a recurring basis at June 30, 2025 and December 31, 2024, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8BD_zYctTD7pw36f">Schedule of Fair Value on Recurring Basis</span></span></span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Description</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Level</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250630_zCLe4YsUeny4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20241231_zr3iE4j5iSj2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Assets:</td><td> </td> <td style="vertical-align: bottom; text-align: center"> </td><td style="vertical-align: bottom; text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeAsset_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z5qvWpz3fE29" style="vertical-align: bottom; background-color: White"> <td style="width: 46%; text-align: left">Bifurcated embedded derivative asset - related party</td><td style="width: 2%"> </td> <td style="vertical-align: bottom; width: 1%; text-align: center"> </td><td style="vertical-align: bottom; width: 14%; text-align: center">3</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">63,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_ecustom--DefiniteLivedIntangiblesAtAcquisitionDate_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z1AEijXwRyXd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Definite-lived intangibles<span id="xdx_F42_zOJjdStmT0u8">*</span></td><td> </td> <td style="vertical-align: bottom; text-align: center"> </td><td style="vertical-align: bottom; text-align: center">3</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,903,320</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,903,320</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--DefiniteLivedIntangiblesMeasuredAtImpairmentTesting_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zts1o3UmDyNa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Definite-lived intangibles<span id="xdx_F49_zvOTtmrxCfMd">**</span></td><td> </td> <td style="vertical-align: bottom; text-align: center"> </td><td style="vertical-align: bottom; text-align: center">3</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">8,635,827</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,883,853</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--Goodwill_iI_hus-gaap--StatementBusinessSegmentsAxis__custom--VidelloMember_zdl9FLjwwFhk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Goodwill - Vidello (<i>Note 4</i>)<span id="xdx_F4F_zq11KRlfSKpg">*</span></span></td><td> </td> <td style="vertical-align: bottom; text-align: center"> </td><td style="vertical-align: bottom; text-align: center">3</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,019,246</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1501">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--Goodwill_iI_zi7DQKd9iald" style="vertical-align: bottom; background-color: White"> <td>Goodwill<span id="xdx_F41_zm5SQB0kmkLj">**</span></td><td> </td> <td style="vertical-align: bottom; text-align: center"> </td><td style="vertical-align: bottom; text-align: center">3</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">21,991,721</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">18,972,475</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Liabilities:</td><td> </td> <td style="vertical-align: bottom; text-align: center"> </td><td style="vertical-align: bottom; text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Warrant liabilities - public</td><td> </td> <td style="vertical-align: bottom; text-align: center"> </td><td style="vertical-align: bottom; text-align: center">1</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_982_ecustom--WarrantLiabilitiesPublic_iI_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zsYkqYo3bu8d" style="text-align: right" title="Warrant liabilities public">4,600</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_ecustom--WarrantLiabilitiesPublic_iI_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zVWTFjqtTecd" style="text-align: right" title="Warrant liabilities public">2,300</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--GEMWarrantLiabilities_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zCwhmcyO7Ide" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">GEM warrant liabilities</td><td> </td> <td style="vertical-align: bottom; text-align: center"> </td><td style="vertical-align: bottom; text-align: center">3</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">15,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--NotesPayable_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zklLdbPYTr1h" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Agile term notes</td><td> </td> <td style="vertical-align: bottom; text-align: center"> </td><td style="vertical-align: bottom; text-align: center">3</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">4,131,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,143,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--ConvertibleNotesPayable_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zLflR4toZUc4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">1800 Diagonal convertible notes</td><td> </td> <td style="vertical-align: bottom; text-align: center"> </td><td style="vertical-align: bottom; text-align: center">3</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">530,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">432,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--ConvertibleDebtFairValueDisclosures_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z0DEbMSwykO6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Private Placement Convertible Notes</td><td> </td> <td style="vertical-align: bottom; text-align: center"> </td><td style="vertical-align: bottom; text-align: center">3</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,676,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1520">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--PrivatePlacementWarrants_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zRUHqlyEtD7d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Private Placement Warrants</td><td> </td> <td style="vertical-align: bottom; text-align: center"> </td><td style="vertical-align: bottom; text-align: center">3</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">361,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1523">—</span></td><td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td id="xdx_F02_zoXGrJ8m7Kn5" style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td><td style="text-align: justify"><span id="xdx_F17_zdrt016C1x48" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain assets measured at the acquisition date.</span></td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span id="xdx_F07_z2jDlmOeSjBi" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">**</span></td><td style="text-align: justify"><span id="xdx_F13_zsSzaEKyjkZ2" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Measured at period-end.</span></td> </tr></table> 1000 63000 3903320 3903320 8635827 3883853 3019246 21991721 18972475 4600 2300 3000 15000 4131000 3143000 530000 432000 2676000 361000 23000 23000 2300 <p id="xdx_899_ecustom--SummaryOfChangesInTheFairValueOfTheWarrantsLiabilityTableTextBlock_hus-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsLiabilityMember_zDD9gM7aRLad" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following tables set forth a summary of the changes in the fair value of the Public Warrants liability which are Level 1 financial liabilities that are measured at fair value on a recurring basis:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BD_zXv4so7jcJjb">Summary of Changes in the Fair Value of the Warrants Liability</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_43B_c20250101__20250331__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsLiabilityMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_ecustom--PublicWarrantsLiability_iS_zXKcgnvkrWa1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%">Balance at December 31, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,300</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--ChangeInFairValueOfPublicWarrantsLiability_hus-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsLiabilityMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_ziA8Ed6tLGi9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,300</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_43B_c20250401__20250630__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsLiabilityMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_ecustom--PublicWarrantsLiability_iS_zd0z2jHKCCYf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance at March 31, 2025</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">4,600</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--ChangeInFairValueOfPublicWarrantsLiability_hus-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsLiabilityMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z9yc0AVnlJa6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_43C_c20250401__20250630__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsLiabilityMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_ecustom--PublicWarrantsLiability_iE_zwUiIPU0XCV1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Balance at June 30, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,600</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 12000 <p id="xdx_898_ecustom--SummaryOfChangesInTheFairValueOfTheWarrantsLiabilityTableTextBlock_hus-gaap--ClassOfWarrantOrRightAxis__custom--GemWarrantsLiabilityMember_zfzo5hY61aVb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following tables set forth a summary of the changes in the fair value of the GEM Warrants liability which are Level 3 financial liabilities that are measured at fair value on a recurring basis:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B9_zcIFXtWg1xP3">Summary of Changes in the Fair Value of the Warrants Liability</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%">Balance at December 31, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_ecustom--GemWarrantsLiability_iS_c20250101__20250331__us-gaap--ClassOfWarrantOrRightAxis__custom--GemWarrantsLiabilityMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zYtAz7lP0KFd" style="width: 16%; text-align: right" title="Change in fair value, Beginning balance">15,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_ecustom--ChangeInFairValueOfGemWarrantsLiability_c20250101__20250331__us-gaap--ClassOfWarrantOrRightAxis__custom--GemWarrantsLiabilityMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zcgwus2optMl" style="border-bottom: Black 1pt solid; text-align: right" title="Change in fair value">(4,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance at March 31, 2025</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecustom--GemWarrantsLiability_iS_c20250401__20250630__us-gaap--ClassOfWarrantOrRightAxis__custom--GemWarrantsLiabilityMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zzGuOrdIX1uj" style="text-align: right" title="Change in fair value, Beginning balance">11,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_ecustom--ChangeInFairValueOfGemWarrantsLiability_c20250401__20250630__us-gaap--ClassOfWarrantOrRightAxis__custom--GemWarrantsLiabilityMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zlhmDwZbVW4e" style="border-bottom: Black 1pt solid; text-align: right" title="Change in fair value">(8,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Balance at June 30, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_ecustom--GemWarrantsLiability_iE_c20250401__20250630__us-gaap--ClassOfWarrantOrRightAxis__custom--GemWarrantsLiabilityMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zuSQ7jAq2k1h" style="border-bottom: Black 2.5pt double; text-align: right" title="Change in fair value, Ending balance">3,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 15000 -4000 11000 -8000 3000 238000 <p id="xdx_896_ecustom--SummaryOfChangesInFairValueOfConvertibleNoteTableTextBlock_zyCDj6CoonZk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following tables set forth a summary of the changes in the fair value of the Yorkville convertible notes which is a Level 3 financial liability measured at fair value on a recurring basis:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B8_zMWB0RaGZbzc">Summary of Changes In Fair Value Of Yorkville Convertible Note</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_491_20250101__20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleDebtMember_z9OJIPX02b4a"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Fair Value</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_400_eus-gaap--ConvertibleDebt_iS_z9X9WVIEvjud" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif">Balance at December 31, 2024</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl1558">-</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40D_ecustom--IssuanceOfYorkvilleConvertibleNote_zMNqGmKSBL4h" style="vertical-align: bottom; background-color: White"> <td style="width: 80%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Issuance of Yorkville convertible note</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,150,000</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_ecustom--GainsLossesOnDebtIssuance_zcxBfF8IH9ul" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Loss on debt issuance</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">252,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_404_eus-gaap--RepaymentsOfConvertibleDebt_iN_di_zEGYPXEOFcE7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Repayment in cash of Yorkville convertible notes</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(3,640,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_403_ecustom--ChangeInFairValueOfYorkvilleConvertibleNote_z7RTgwtVaCMl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Change in fair value</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">238,000</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_401_eus-gaap--ConvertibleDebt_iE_zQp5HmNbYjz8" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Balance at June 30, 2025</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl1568">—</span></span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> 3150000 252000 3640000 238000 1000 <p id="xdx_892_eus-gaap--ScheduleOfDerivativeAssetsAtFairValueTableTextBlock_zHiOhmo7YR62" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table sets forth a summary of the changes in the fair value of the bifurcated embedded derivative asset for the six months ended June 30, 2025, relating to the Convertible Note to CP BF issued on September 23, 2024, which are Level 3 financial liabilities that are measured at fair value on a recurring basis:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BF_zMg7FSQDGopg">Schedule of Derivate Assets</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fair Value</b></span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>CP BF Convertible</i></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 80%"><span style="font-family: Times New Roman, Times, Serif">Balance at December 31, 2024</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_984_eus-gaap--DerivativeAssetsLiabilitiesAtFairValueNet_iS_c20250101__20250331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--DebtInstrumentAxis__custom--CpBfConvertibleNotesMember_zW85E2iFF5w5" style="width: 16%; text-align: right" title="Change in fair value, Beginning balance"><span style="font-family: Times New Roman, Times, Serif">63,000</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Change in fair value</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_984_eus-gaap--EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet_c20250101__20250331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--DebtInstrumentAxis__custom--CpBfConvertibleNotesMember_zLAMTF3oxNz" style="text-align: right" title="Change in fair value"><span style="font-family: Times New Roman, Times, Serif">(43,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Balance at March 31, 2025</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98C_eus-gaap--DerivativeAssetsLiabilitiesAtFairValueNet_iS_c20250401__20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--DebtInstrumentAxis__custom--CpBfConvertibleNotesMember_zAiXCAq7iAe8" style="text-align: right" title="Change in fair value, Beginning balance"><span style="font-family: Times New Roman, Times, Serif">20,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Change in fair value</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_986_eus-gaap--EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet_c20250401__20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--DebtInstrumentAxis__custom--CpBfConvertibleNotesMember_zHRVpyCbJt94" style="text-align: right" title="Change in fair value"><span style="font-family: Times New Roman, Times, Serif">(19,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Balance at June 30, 2025</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_988_eus-gaap--DerivativeAssetsLiabilitiesAtFairValueNet_iE_c20250401__20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--DebtInstrumentAxis__custom--CpBfConvertibleNotesMember_zL5uKutuwKP1" style="text-align: right" title="Change in fair value, Ending balance"><span style="font-family: Times New Roman, Times, Serif">1,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> 63000 -43000 20000 -19000 1000 <p id="xdx_894_eus-gaap--FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_zyEZ8VMocJe8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The range of key inputs at issuance of the Agile term notes and for the period ended June 30, 2025 and December 31, 2024, were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B1_z91bh5TORVtk" style="display: none">Schedule of Range of key Inputs at Issuance</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">March 2025 Agile Note</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 2025 Agile Note</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Key Inputs</span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">March 31, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 12, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 38%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Contractual term (years)</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_90C_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_c20250630__us-gaap--FinancialInstrumentAxis__custom--MarchTwoThousandTwentyFiveAgileNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember_zdZjE4Sg1lD1" title="Debt instrument, measurement input">0.38</span></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 13%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_909_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_c20250331__us-gaap--FinancialInstrumentAxis__custom--MarchTwoThousandTwentyFiveAgileNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember_zpG9dXWOPtMf" title="Debt instrument, measurement input">0.62</span></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_909_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_c20250630__us-gaap--FinancialInstrumentAxis__custom--JuneTwoThousandTwentyFiveAgileNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember_zkoLP963Ht8f" title="Debt instrument, measurement input">0.47</span></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_90E_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_c20250612__us-gaap--FinancialInstrumentAxis__custom--JuneTwoThousandTwentyFiveAgileNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember_z0BotvvhEyPl" title="Debt instrument, measurement input">0.52</span></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Interest rate</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_905_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_c20250630__us-gaap--FinancialInstrumentAxis__custom--MarchTwoThousandTwentyFiveAgileNoteMember__us-gaap--MeasurementInputTypeAxis__custom--MeasurementInputInterestRateMember__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember_zF8cyBjwn3I4" title="Debt instrument, measurement input">14.59</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_909_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_c20250331__us-gaap--FinancialInstrumentAxis__custom--MarchTwoThousandTwentyFiveAgileNoteMember__us-gaap--MeasurementInputTypeAxis__custom--MeasurementInputInterestRateMember__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember_z1H0bZvjdCJc" title="Debt instrument, measurement input">13.12</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_909_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_c20250630__us-gaap--FinancialInstrumentAxis__custom--JuneTwoThousandTwentyFiveAgileNoteMember__us-gaap--MeasurementInputTypeAxis__custom--MeasurementInputInterestRateMember__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember_z0CLpyuFbEta" title="Debt instrument, measurement input">14.54</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_906_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_c20250612__us-gaap--FinancialInstrumentAxis__custom--JuneTwoThousandTwentyFiveAgileNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--ValuationTechniqueAxis__custom--MeasurementInputInterestRateMember_zNwOYgif7xo9" title="Debt instrument, measurement input">15.95</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> </table> 0.38 0.62 0.47 0.52 14.59 13.12 14.54 15.95 <p id="xdx_890_eus-gaap--FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_hus-gaap--FinancialInstrumentAxis__custom--DiagonalConvertibleNotesMember_zWaar6jHVK72" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The range of key inputs for the Black-Scholes simulations at issuance of the 1800 Diagonal convertible notes and for the period ended June 30, 2025 and December 31, 2024, were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B8_z8YeffInyXH5" style="display: none">Schedule of Range of key Inputs at Issuance</span></span>  </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Key Inputs</span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_496_20250630__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueOptionPricingModelMember__us-gaap--FinancialInstrumentAxis__custom--September1800DiagonalNoteMember_zrOE08BreCZg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49D_20241231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueOptionPricingModelMember__us-gaap--FinancialInstrumentAxis__custom--September1800DiagonalNoteMember_zIP6yMu57pUj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">December 31, 2024</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49C_20250630__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueOptionPricingModelMember__us-gaap--FinancialInstrumentAxis__custom--December1800DiagonalNoteMember_zxSPy10vVQZ1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49E_20241231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueOptionPricingModelMember__us-gaap--FinancialInstrumentAxis__custom--December1800DiagonalNoteMember_zO4hkPRKjhlj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">December 31, 2024</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_490_20250630__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueOptionPricingModelMember__us-gaap--FinancialInstrumentAxis__custom--February1800DiagonalNoteMember_zcqedQFJxrs3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49F_20250207__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueOptionPricingModelMember__us-gaap--FinancialInstrumentAxis__custom--February1800DiagonalNoteMember_zG3bmvG8egJl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">February 7, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49F_20250630__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueOptionPricingModelMember__us-gaap--FinancialInstrumentAxis__custom--April1800DiagonalNoteMember_z06EM2iMRa13" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_490_20250417__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueOptionPricingModelMember__us-gaap--FinancialInstrumentAxis__custom--April1800DiagonalNoteMember_zgSiiuhyeah5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">April 17, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_494_20250630__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueOptionPricingModelMember__us-gaap--FinancialInstrumentAxis__custom--May1800DiagonalNoteMember_zh3iOnXrAu67" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_499_20250509__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueOptionPricingModelMember__us-gaap--FinancialInstrumentAxis__custom--May1800DiagonalNoteMember_zjmn6JLCb1cl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">May 9, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">September 1800<br/> Diagonal Note</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">December 1800<br/> Diagonal Note</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">February 1800<br/> Diagonal Note</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">April 1800<br/> Diagonal Note</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">May 1800<br/> Diagonal Note</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Key Inputs</span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">December 31, 2024</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">December 31, 2024</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">February 7, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">April 17, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">May 9, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40E_ecustom--DebtInstrumentMeasurement_iI_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember_zDC2zu72eyS4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 30%"><span style="font-family: Times New Roman, Times, Serif">Stock price</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 3%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">5.89</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 3%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1.53</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 3%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">5.89</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 3%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1.53</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 3%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">5.89</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 3%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1.51</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 3%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">5.89</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 3%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">10.56</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 3%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">5.89</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 3%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">9.98</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_400_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zGHQQ9LLfs66" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Contractual term (years)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.08</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.59</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.30</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.80</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.47</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.86</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.64</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.84</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.64</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.78</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_400_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zE3S5zGnUCBg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Risk-free rate</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">4.19</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">4.23</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">4.19</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">4.19</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">4.19</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">4.22</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">4.20</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">4.16</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">4.20</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">4.21</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr id="xdx_405_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zR3yMdmXX5Fb" style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Volatility<span id="xdx_F46_ziAvWGZG5swe">(1)</span></span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">141</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">264</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">100</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">232</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">96</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">237</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">123</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">160</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">123</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">143</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr id="xdx_409_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_hus-gaap--MeasurementInputTypeAxis__custom--MeasurementInputMaturityProbabilityMember_zr02aqcCPvR9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Maturity probability</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">98</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">80</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">90</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">75</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">90</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">75</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">85</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">80</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">85</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">80</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr id="xdx_403_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_hus-gaap--MeasurementInputTypeAxis__custom--MeasurementInputDefaultProbabilityMember_z49xZg3yJcY6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Default probability</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">2</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">20</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">10</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">25</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">10</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">25</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">15</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">20</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">15</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">20</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr id="xdx_400_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zIrwF069ji7d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Dividend yield</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.00</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.00</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.00</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.00</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.00</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.00</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.00</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.00</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.00</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.00</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr id="xdx_401_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zG1wwkrlaj24" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Debt Instrument, Measurement Input</td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.00</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.00</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.00</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.00</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.00</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.00</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.00</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.00</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.00</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.00</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td id="xdx_F03_znJoW4lBCoEi" style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">⁽¹⁾</span></td><td style="text-align: justify"><span id="xdx_F15_zQEXhPrKTazb" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company utilized historical equity volatility in measurement of the fair value of the notes.</span></td> </tr></table> 5.89 1.53 5.89 1.53 5.89 1.51 5.89 10.56 5.89 9.98 0.08 0.59 0.30 0.80 0.47 0.86 0.64 0.84 0.64 0.78 4.19 4.23 4.19 4.19 4.19 4.22 4.20 4.16 4.20 4.21 141 264 100 232 96 237 123 160 123 143 98 80 90 75 90 75 85 80 85 80 2 20 10 25 10 25 15 20 15 20 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 11000000 0.0001 11000000 67124 21212 361000 <p id="xdx_89B_eus-gaap--FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputReconciliationTableTextBlock_zkZsSjOaMtSe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following tables set forth a summary of the inputs to and the changes in the fair value of the Private Placement Warrant liability which are Level 3 financial liabilities that are measured at fair value on a recurring basis:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span id="xdx_8B2_zcONgFwHlF0d" style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Summary of Inputs in Fair Value of the Private Placement Warrant Liability</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Key Inputs</span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%"><span style="font-family: Times New Roman, Times, Serif">Stock price</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_90D_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uPure_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember_zB2l0xXdnz16" title="Measurement Input">5.89</span></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Contractual term (years)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_900_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uPure_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__srt--RangeAxis__srt--MinimumMember_zgiqvgLK1HH" title="Measurement Input">3.0</span> - <span id="xdx_906_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uPure_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__srt--RangeAxis__srt--MaximumMember_zwGsMRqpBRI7" title="Measurement Input">5.0</span>  </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Risk-free rate</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90A_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uPure_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__srt--RangeAxis__srt--MinimumMember_zJm9IGkAn7hf" title="Measurement Input">3.7</span> - <span id="xdx_90D_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uPure_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__srt--RangeAxis__srt--MaximumMember_z6ui1fyCrYoj" title="Measurement Input">3.8</span> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Volatility(1)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90A_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uPure_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__srt--RangeAxis__srt--MinimumMember_zkFD3jM9mgS" title="Measurement Input">94.0</span>% - <span id="xdx_906_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uPure_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__srt--RangeAxis__srt--MaximumMember_zHJAD208lEAc" title="Measurement Input">119.0</span> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif">Exercise Price</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_900_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uPure_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExercisePriceMember__srt--RangeAxis__srt--MinimumMember_zfm9dEWuSOU4" title="Measurement Input">6.60</span>-$<span id="xdx_908_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uPure_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExercisePriceMember__srt--RangeAxis__srt--MaximumMember_zT5WinurfVJi" title="Measurement Input">8.25</span>  </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Dividend yield</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_90F_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uPure_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember__srt--RangeAxis__srt--MinimumMember_znt9X1vPDeO2" title="Measurement Input">0.00</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none">Summary of Inputs in Fair Value of the Private Placement Warrant Liability </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Fair Value</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif">Balance at December 31, 2024</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Balance at March 31, 2025</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Loss on issuance</span></td><td style="width: 2%; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">361,000</span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Balance at June 30, 2025</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">361,000</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> 5.89 3.0 5.0 3.7 3.8 94.0 119.0 6.60 8.25 0.00 2200000 P1Y 10 0.0388 1.800 0.287 <p id="xdx_80D_eus-gaap--PropertyPlantAndEquipmentDisclosureTextBlock_zJuwH7g5jJ4h" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>8. <span id="xdx_825_zx9g50L0sjM8">Property and Equipment</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89A_eus-gaap--PropertyPlantAndEquipmentTextBlock_zWMBGi669Sza" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment, net consisted of the following at the dates indicated:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BE_zQmBCOxYEWB2" style="display: none">Schedule of Property and Equipment, Net</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_498_20250630_zCW3B72rpBrg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49C_20241231_zswqIRGZQue4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">December 31, 2024</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_zJ7LYgcd8VFc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Computers and equipment</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">43,848</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">34,474</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40A_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_zIlccwsO7FA9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Less: accumulated depreciation</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(33,145</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(30,935</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentNet_iTI_zl3mfnT9Kfl4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Property and equipment, net</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">10,703</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,539</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p id="xdx_8AD_ztzpjy61uiX2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Depreciation expense for the six months ended June 30, 2025 and 2024 was $<span id="xdx_90B_eus-gaap--Depreciation_c20250101__20250630_znCkHRj8lTSh" title="Depreciation expense">2,210</span> and $<span id="xdx_904_eus-gaap--Depreciation_c20240101__20240630_z6ZXZYnccgij" title="Depreciation expense">2,825</span> respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_89A_eus-gaap--PropertyPlantAndEquipmentTextBlock_zWMBGi669Sza" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment, net consisted of the following at the dates indicated:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BE_zQmBCOxYEWB2" style="display: none">Schedule of Property and Equipment, Net</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_498_20250630_zCW3B72rpBrg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49C_20241231_zswqIRGZQue4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">December 31, 2024</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_zJ7LYgcd8VFc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Computers and equipment</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">43,848</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">34,474</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40A_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_zIlccwsO7FA9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Less: accumulated depreciation</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(33,145</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(30,935</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentNet_iTI_zl3mfnT9Kfl4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Property and equipment, net</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">10,703</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,539</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> 43848 34474 33145 30935 10703 3539 2210 2825 <p id="xdx_801_ecustom--PrepaidExpensesAndOtherCurrentAssetsTextBlock_zjWJeIfWA70l" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>9. <span id="xdx_82F_zGsCnwiZSiv5">Prepaid Expenses and Other Current Assets</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_896_eus-gaap--DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock_zJC2r6LavOfe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prepaid expenses and other current assets consisted of the following at the dates indicated:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 35.7pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B8_zNJU0KHQ8As3" style="display: none">Summary of Prepaid Expenses and Other Current Assets</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_497_20250630_zPUGAiNOOwyc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_495_20241231_z9ORdjV28Xyc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">December 31, 2024</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Prepaid expenses and other current assets:</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_400_eus-gaap--PrepaidInsurance_iI_zWm3r0b5QGKe" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Prepaid insurance costs</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">235,451</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">130,345</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_408_ecustom--ServiceTrade_iI_zfxYE3JTlBmd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Service trade</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">177,055</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">239,041</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40A_ecustom--PrepaidConsultingCosts_iI_zlKBIpnUMLP6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Prepaid consulting costs</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl1766">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">76,767</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_ecustom--PrepaidSoftwareCosts_iI_zKBPO3n9blVi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Prepaid software costs</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">129,168</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">59,855</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_400_ecustom--PrepaidCommissions_iI_z4zfxudrinpe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Prepaid commissions</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">52,616</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">31,504</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_400_ecustom--PrepaidMerchantFees_iI_zqiVM3b4xf8g" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Prepaid merchant fees</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">26,385</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">26,690</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40A_eus-gaap--PrepaidAdvertising_iI_znL2m4QfR7c6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Prepaid advertising and marketing costs</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl1778">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">29,133</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_ecustom--PrepaidDataLicenseAndSubscriptionCosts_iI_zMmYYw14mkP3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Prepaid data license and subscription costs</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl1781">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,125</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_404_ecustom--EmployeeReceivable_iI_zmLKrGCEve68" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Employee receivable</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">113,567</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">800</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_408_eus-gaap--OtherAssetsCurrent_iI_z4YwOFtlOkv6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Other current assets</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">23,271</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">46,414</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_407_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iTI_zeq6pESrJbhe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Total prepaid expenses and other current assets</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">757,513</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">643,674</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p id="xdx_8A3_zOI9MN29SkTl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_896_eus-gaap--DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock_zJC2r6LavOfe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prepaid expenses and other current assets consisted of the following at the dates indicated:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 35.7pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B8_zNJU0KHQ8As3" style="display: none">Summary of Prepaid Expenses and Other Current Assets</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_497_20250630_zPUGAiNOOwyc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_495_20241231_z9ORdjV28Xyc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">December 31, 2024</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Prepaid expenses and other current assets:</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_400_eus-gaap--PrepaidInsurance_iI_zWm3r0b5QGKe" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Prepaid insurance costs</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">235,451</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">130,345</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_408_ecustom--ServiceTrade_iI_zfxYE3JTlBmd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Service trade</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">177,055</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">239,041</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40A_ecustom--PrepaidConsultingCosts_iI_zlKBIpnUMLP6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Prepaid consulting costs</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl1766">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">76,767</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_ecustom--PrepaidSoftwareCosts_iI_zKBPO3n9blVi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Prepaid software costs</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">129,168</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">59,855</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_400_ecustom--PrepaidCommissions_iI_z4zfxudrinpe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Prepaid commissions</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">52,616</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">31,504</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_400_ecustom--PrepaidMerchantFees_iI_zqiVM3b4xf8g" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Prepaid merchant fees</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">26,385</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">26,690</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40A_eus-gaap--PrepaidAdvertising_iI_znL2m4QfR7c6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Prepaid advertising and marketing costs</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl1778">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">29,133</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_ecustom--PrepaidDataLicenseAndSubscriptionCosts_iI_zMmYYw14mkP3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Prepaid data license and subscription costs</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl1781">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,125</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_404_ecustom--EmployeeReceivable_iI_zmLKrGCEve68" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Employee receivable</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">113,567</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">800</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_408_eus-gaap--OtherAssetsCurrent_iI_z4YwOFtlOkv6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Other current assets</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">23,271</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">46,414</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_407_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iTI_zeq6pESrJbhe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Total prepaid expenses and other current assets</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">757,513</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">643,674</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> 235451 130345 177055 239041 76767 129168 59855 52616 31504 26385 26690 29133 3125 113567 800 23271 46414 757513 643674 <p id="xdx_80D_eus-gaap--GoodwillDisclosureTextBlock_zHpf61s9ucIi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>10. <span id="xdx_82A_ztoziBviw8j3">Goodwill</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89D_eus-gaap--ScheduleOfGoodwillTextBlock_zusgbGQdtjok" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following is a summary of goodwill by reportable segment as of and for the three and six months ended June 30, 2025:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B2_zZGsBIkK0NVg" style="display: none"> Summary of Goodwill</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_4BE_us-gaap--StatementBusinessSegmentsAxis_custom--BanzaiOperatingMember_zdAwla9Pkc9f" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Banzai Operating <br/> Co.</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_4BB_us-gaap--StatementBusinessSegmentsAxis_custom--VidelloMember_z2EKjzKYNNW3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Vidello</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_4B4_us-gaap--StatementBusinessSegmentsAxis_custom--OpenReelMember_z1IjJSGTydQ5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">OpenReel</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_4B6_zr8BHTFK0rv2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Consolidated</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_43A_c20250101__20250630_eus-gaap--Goodwill_iS_z8IZVjyg820h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%"><span style="font-family: Times New Roman, Times, Serif">Goodwill - December 31, 2024</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,171,526</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl1798">-</span></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">16,800,949</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">18,972,475</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_43E_c20250101__20250630_eus-gaap--GoodwillAcquiredDuringPeriod_z9IQvEv4ojye" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additions to goodwill (<i>Note 4</i>)</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl1802">-</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,019,246</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl1804">-</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,019,246</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_439_c20250101__20250630_eus-gaap--Goodwill_iE_zqKrUKrUw4pg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Goodwill - June 30, 2025</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,171,526</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,019,246</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">16,800,949</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">21,991,721</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p id="xdx_8A9_zSM8jrf3cfAc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We identify our reporting units in accordance with the FASB ASC Subtopic 280 <i>Segment Reporting</i>. The carrying value and fair value for intangible assets and goodwill for a reporting unit are calculated based on key assumptions and valuation methodologies. The discounted cash flow methodology is a widely accepted valuation technique utilized by market participants in the transaction evaluation process and has been applied consistently. We also consider our market capitalization, as compared to the aggregate fair values of our reporting units, to assess the reasonableness of our estimates pursuant to the discounted cash flow methodology. Management further supports its conclusions by assessing a combination of an income valuation methodology, comprising a discounted cash flow analysis and market valuation methodologies, comprising the guideline public company and guideline transaction methods. The estimates and assumptions made in assessing the fair value of our reporting units and the valuation of the underlying assets and liabilities are inherently subject to significant uncertainties related to future sales, gross margins, and advertising and marketing expenses, which can be impacted by increases in competition, changing consumer preferences, technology development expenses, technical advances, and inflation. The discount rate assumption may be influenced by such factors as changes in interest rates and rates of inflation, which can have an impact on the determination of fair value. If these assumptions are adversely affected, we may be required to record additional impairment charges in the future.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At June 30, 2025, as the Company has <span id="xdx_906_eus-gaap--NumberOfOperatingSegments_dc_uInteger_c20250101__20250630_zYIBYkejpMtl" title="Number of operating segments">three</span> operating segments which were deemed to be its reporting units, goodwill is allocated to each reporting unit and the carrying value of each reporting unit is determined based on the present value of the reporting unit’s specific discounted cash flows for purposes of evaluating goodwill impairment. As of December 31, 2024, the date of the last goodwill impairment analysis, the Banzai Operating Co. reporting unit had a negative carrying value, and no impairment to goodwill was identified as of December 31, 2024. As of December 31, 2024, the OpenReel reporting unit had a carrying value that exceeded the fair value of the reporting unit. As such an impairment to goodwill $2.7 million was identified as of December 31, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_89D_eus-gaap--ScheduleOfGoodwillTextBlock_zusgbGQdtjok" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following is a summary of goodwill by reportable segment as of and for the three and six months ended June 30, 2025:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B2_zZGsBIkK0NVg" style="display: none"> Summary of Goodwill</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_4BE_us-gaap--StatementBusinessSegmentsAxis_custom--BanzaiOperatingMember_zdAwla9Pkc9f" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Banzai Operating <br/> Co.</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_4BB_us-gaap--StatementBusinessSegmentsAxis_custom--VidelloMember_z2EKjzKYNNW3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Vidello</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_4B4_us-gaap--StatementBusinessSegmentsAxis_custom--OpenReelMember_z1IjJSGTydQ5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">OpenReel</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_4B6_zr8BHTFK0rv2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Consolidated</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_43A_c20250101__20250630_eus-gaap--Goodwill_iS_z8IZVjyg820h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%"><span style="font-family: Times New Roman, Times, Serif">Goodwill - December 31, 2024</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,171,526</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl1798">-</span></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">16,800,949</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">18,972,475</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_43E_c20250101__20250630_eus-gaap--GoodwillAcquiredDuringPeriod_z9IQvEv4ojye" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additions to goodwill (<i>Note 4</i>)</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl1802">-</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,019,246</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl1804">-</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,019,246</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_439_c20250101__20250630_eus-gaap--Goodwill_iE_zqKrUKrUw4pg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Goodwill - June 30, 2025</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,171,526</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,019,246</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">16,800,949</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">21,991,721</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> 2171526 16800949 18972475 3019246 3019246 2171526 3019246 16800949 21991721 3 <p id="xdx_80B_eus-gaap--AccountsPayableAccruedLiabilitiesAndOtherLiabilitiesDisclosureCurrentTextBlock_zHuDQmLE7kAb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>11. <span id="xdx_82C_zOAt8CoeJWIi">Accrued Expenses and Other Current Liabilities</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p id="xdx_895_eus-gaap--ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock_zfatA9sveMd6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accrued expenses and other current liabilities consisted of the following at the dates indicated:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span id="xdx_8B8_zt2GZeleR1sc" style="display: none">Schedule of Accrued Expanses and Other Current Liabilities</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_498_20250630_zPM4SxMjddi7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_493_20241231_zw1iPzQ38rt9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">December 31, 2024</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Accrued expenses and other current liabilities:</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_405_ecustom--AccruedAccountingAndProfessionalServicesCosts_iI_maALAOLza96_zvfggQoY5OW5" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Accrued accounting and professional services costs</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,294,770</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,419,829</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_404_eus-gaap--AccruedIncomeTaxesCurrent_iI_maALAOLza96_zjPzwm6kWekd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Provision for tax payable</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">539,339</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl1822">-</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_400_ecustom--SalesTaxPayableCurrent_iI_maALAOLza96_zevt6qhR1Az8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Sales tax payable</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">532,350</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">452,508</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_403_ecustom--AccruedLegalCosts_iI_maALAOLza96_zOhNHLkAquJh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Accrued legal costs</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">154,150</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">315,764</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40F_ecustom--ExciseTaxPayableCurrent_iI_maALAOLza96_zzTz5MKJK1lk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Excise tax payable</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">223,717</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">223,717</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_408_ecustom--AccruedPayrollAndBenefitCosts_iI_maALAOLza96_ziZaFX24usre" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Accrued payroll and benefit costs</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">353,128</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">207,970</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_404_ecustom--AccruedStreamingServiceCosts_iI_maALAOLza96_z3TRy4l5bwC9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Accrued streaming service costs</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">44,983</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">51,308</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_407_ecustom--AccruedSubscriptionCosts_iI_maALAOLza96_zyNNfxHJ0NJ" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Accrued subscription costs</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">46,620</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">46,759</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_404_eus-gaap--OtherLiabilitiesCurrent_iI_maALAOLza96_zCbI1bQH2Xkh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Other current liabilities</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">216,569</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">173,163</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40F_eus-gaap--AccruedLiabilitiesAndOtherLiabilities_iTI_mtALAOLza96_z25iAdOEdjl3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Total accrued expenses and other current liabilities</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,405,626</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,891,018</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p id="xdx_8A5_zOL6oXGWfw0k" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_895_eus-gaap--ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock_zfatA9sveMd6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accrued expenses and other current liabilities consisted of the following at the dates indicated:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span id="xdx_8B8_zt2GZeleR1sc" style="display: none">Schedule of Accrued Expanses and Other Current Liabilities</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_498_20250630_zPM4SxMjddi7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_493_20241231_zw1iPzQ38rt9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">December 31, 2024</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Accrued expenses and other current liabilities:</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_405_ecustom--AccruedAccountingAndProfessionalServicesCosts_iI_maALAOLza96_zvfggQoY5OW5" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Accrued accounting and professional services costs</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,294,770</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,419,829</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_404_eus-gaap--AccruedIncomeTaxesCurrent_iI_maALAOLza96_zjPzwm6kWekd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Provision for tax payable</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">539,339</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl1822">-</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_400_ecustom--SalesTaxPayableCurrent_iI_maALAOLza96_zevt6qhR1Az8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Sales tax payable</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">532,350</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">452,508</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_403_ecustom--AccruedLegalCosts_iI_maALAOLza96_zOhNHLkAquJh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Accrued legal costs</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">154,150</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">315,764</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40F_ecustom--ExciseTaxPayableCurrent_iI_maALAOLza96_zzTz5MKJK1lk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Excise tax payable</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">223,717</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">223,717</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_408_ecustom--AccruedPayrollAndBenefitCosts_iI_maALAOLza96_ziZaFX24usre" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Accrued payroll and benefit costs</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">353,128</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">207,970</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_404_ecustom--AccruedStreamingServiceCosts_iI_maALAOLza96_z3TRy4l5bwC9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Accrued streaming service costs</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">44,983</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">51,308</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_407_ecustom--AccruedSubscriptionCosts_iI_maALAOLza96_zyNNfxHJ0NJ" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Accrued subscription costs</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">46,620</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">46,759</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_404_eus-gaap--OtherLiabilitiesCurrent_iI_maALAOLza96_zCbI1bQH2Xkh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Other current liabilities</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">216,569</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">173,163</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40F_eus-gaap--AccruedLiabilitiesAndOtherLiabilities_iTI_mtALAOLza96_z25iAdOEdjl3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Total accrued expenses and other current liabilities</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,405,626</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,891,018</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> 2294770 2419829 539339 532350 452508 154150 315764 223717 223717 353128 207970 44983 51308 46620 46759 216569 173163 4405626 3891018 <p id="xdx_80D_ecustom--DeferredRevenueTextBlock_zs5YMe6czXGd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>12. <span id="xdx_826_zk36m51irjn3">Deferred Revenue</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred revenue represents amounts that have been collected in advance of revenue recognition and is recognized as revenue when transfer of control to customers has occurred or services have been provided. The deferred revenue balance does not represent the total contract value of annual or multi-year, non-cancelable revenue agreements. Differences between the revenue recognized per the below schedule, and the revenue recognized per the condensed consolidated statement of operations, reflect amounts not recognized through the deferred revenue process, and which have been determined to be insignificant. For the six months ended June 30, 2025 and the year ended December 31, 2024, the Company recognized $<span id="xdx_900_eus-gaap--ContractWithCustomerLiabilityRevenueRecognized_c20250101__20250630_zyh75R0KSwzh" title="Recognition of deferred revenue">2,867,837</span> and $<span id="xdx_900_eus-gaap--ContractWithCustomerLiabilityRevenueRecognized_c20240101__20241231_zeeitqVi1Bjk" title="Recognition of deferred revenue">1,214,096</span> in revenue that was included in the prior year deferred revenue balance, respectively.</span></p> <p id="xdx_895_eus-gaap--ContractWithCustomerAssetAndLiabilityTableTextBlock_zEXEe7Frxyl9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The change in total deferred revenue was as follows for the periods indicated:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span id="xdx_8B9_zCQEz4X5s82l" style="display: none">Schedule of Changes in Total Deferred Revenue</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_497_20250101__20250630_zft8WJrKx3gb" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Six Months <br/> Ended</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_495_20240101__20241231_zKWbhMKbhM6j" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Year <br/> Ended</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">December 31, 2024</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_407_eus-gaap--ContractWithCustomerLiabilityCurrent_iS_zNrYn0SSy98i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%"><span style="font-family: Times New Roman, Times, Serif">Deferred revenue, beginning of period</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,934,627</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,214,096</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_407_ecustom--ContractWithCustomerLiabilityBillings_zHPfJioUWZRj" style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Billings</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,628,355</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,362,730</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_409_ecustom--ContractWithCustomerLiabilityRevenueRecognitionOfDeferredRevenuePriorYear_iN_di_zRytpihWwtX9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Revenue recognized (prior year deferred revenue)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(2,867,837</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(1,214,096</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_403_ecustom--ContractWithCustomerLiabilityRevenueRecognitionOfDeferredRevenueCurrentYear_iN_di_zEaewTYD1Wgd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Revenue recognized (current year deferred revenue)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(1,923,747</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(3,091,333</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_400_ecustom--ContractWithCustomerLiabilityOpenReelDeferredRevenueCurrent_zObeFQdBwkxd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">OpenReel deferred revenue - short-term - previously recognized at acquisition</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl1868">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,663,230</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_ecustom--ContractWithCustomerLiabilityVidelloDeferredRevenueCurrent_z9TkAzHHYoi8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Vidello deferred revenue - short-term</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">324,449</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl1872">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_408_eus-gaap--ContractWithCustomerLiabilityCurrent_iE_zOYg9XxOYe76" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Deferred revenue - short-term, end of period</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,095,847</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,934,627</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_404_ecustom--ContractWithCustomerLiabilityOpenReelDeferredRevenueNoncurrent_ze7xWLlbHYjh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">OpenReel deferred revenue - long-term</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">115,725</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl1878">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40F_eus-gaap--ContractWithCustomerLiability_iE_zo6HbYpVpnA1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Deferred revenue - short-term and long-term, end of period</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,211,572</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,934,627</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p id="xdx_8AA_zpX8gnZl9I6h" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 2867837 1214096 <p id="xdx_895_eus-gaap--ContractWithCustomerAssetAndLiabilityTableTextBlock_zEXEe7Frxyl9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The change in total deferred revenue was as follows for the periods indicated:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span id="xdx_8B9_zCQEz4X5s82l" style="display: none">Schedule of Changes in Total Deferred Revenue</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_497_20250101__20250630_zft8WJrKx3gb" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Six Months <br/> Ended</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_495_20240101__20241231_zKWbhMKbhM6j" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Year <br/> Ended</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">December 31, 2024</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_407_eus-gaap--ContractWithCustomerLiabilityCurrent_iS_zNrYn0SSy98i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%"><span style="font-family: Times New Roman, Times, Serif">Deferred revenue, beginning of period</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,934,627</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,214,096</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_407_ecustom--ContractWithCustomerLiabilityBillings_zHPfJioUWZRj" style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Billings</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,628,355</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,362,730</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_409_ecustom--ContractWithCustomerLiabilityRevenueRecognitionOfDeferredRevenuePriorYear_iN_di_zRytpihWwtX9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Revenue recognized (prior year deferred revenue)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(2,867,837</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(1,214,096</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_403_ecustom--ContractWithCustomerLiabilityRevenueRecognitionOfDeferredRevenueCurrentYear_iN_di_zEaewTYD1Wgd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Revenue recognized (current year deferred revenue)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(1,923,747</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(3,091,333</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_400_ecustom--ContractWithCustomerLiabilityOpenReelDeferredRevenueCurrent_zObeFQdBwkxd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">OpenReel deferred revenue - short-term - previously recognized at acquisition</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl1868">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,663,230</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_ecustom--ContractWithCustomerLiabilityVidelloDeferredRevenueCurrent_z9TkAzHHYoi8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Vidello deferred revenue - short-term</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">324,449</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl1872">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_408_eus-gaap--ContractWithCustomerLiabilityCurrent_iE_zOYg9XxOYe76" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Deferred revenue - short-term, end of period</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,095,847</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,934,627</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_404_ecustom--ContractWithCustomerLiabilityOpenReelDeferredRevenueNoncurrent_ze7xWLlbHYjh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">OpenReel deferred revenue - long-term</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">115,725</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl1878">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40F_eus-gaap--ContractWithCustomerLiability_iE_zo6HbYpVpnA1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Deferred revenue - short-term and long-term, end of period</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,211,572</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,934,627</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> 3934627 1214096 4628355 4362730 2867837 1214096 1923747 3091333 2663230 324449 4095847 3934627 115725 4211572 3934627 <p id="xdx_807_eus-gaap--DebtDisclosureTextBlock_z0s5cyMus4B1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>13. <span id="xdx_829_zqIGfuN54Syj">Debt</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Convertible notes</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Promissory Note - GEM</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 14, 2023, the Company and GEM Global Yield LLC SCS and GEM Yield Bahamas Limited (collectively, “GEM”) agreed to terminate in its entirety the GEM Agreement, pursuant to which GEM was to purchase from the Company shares of common stock having an aggregate value up to $<span id="xdx_900_eus-gaap--CommonStockValue_iI_c20231214__srt--RangeAxis__srt--MaximumMember__us-gaap--BusinessAcquisitionAxis__custom--GemAgreementMember__us-gaap--TypeOfArrangementAxis__custom--SharePurchaseAgreementMember_zWoqOkuYspn4" title="Common stock, value, issued">100,000,000</span> and the Company was required to make and execute a warrant (“GEM Warrant”). The Company’s obligation to issue the GEM Warrant remained, granting GEM the right to purchase Class A Common Stock in an amount equal to <span id="xdx_905_ecustom--PercentageOfRightToConvertWarrantToCommonShares_iI_pid_dp_uPure_c20231214__us-gaap--BusinessAcquisitionAxis__custom--GemAgreementMember__us-gaap--TypeOfArrangementAxis__custom--GemTermSheetMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--StatementEquityComponentsAxis__custom--GemWarrantMember_zeU2DPc3fvO8" title="Percentage of right to convert warrant to common shares">3</span>% of the total number of equity interests outstanding as of the Closing, calculated on a fully diluted basis, at an exercise price on the terms and conditions set forth therein, in exchange for issuance of a $<span id="xdx_90F_eus-gaap--ConvertibleDebt_iI_pn5n6_c20231214__us-gaap--BusinessAcquisitionAxis__custom--GemAgreementMember__us-gaap--TypeOfArrangementAxis__custom--GemTermSheetMember_z4zhQPQrlNV9" title="Convertible debenture">2.0</span> million convertible debenture with a <span id="xdx_904_eus-gaap--DebtInstrumentTerm_dtY_c20231214__20231214__us-gaap--BusinessAcquisitionAxis__custom--GemAgreementMember__us-gaap--TypeOfArrangementAxis__custom--GemTermSheetMember_zH6l4zpmhMNe" style="display: none" title="Debt instrument, term">5</span>five-year maturity and <span id="xdx_903_ecustom--CouponRate_iI_pid_dp_uPure_c20231214__us-gaap--BusinessAcquisitionAxis__custom--GemAgreementMember__us-gaap--TypeOfArrangementAxis__custom--GemTermSheetMember_zihfMW0QqLOk" title="Coupon rate">0</span>% coupon. Due to the determination of the final terms of the planned $<span id="xdx_90F_eus-gaap--ConvertibleDebt_iI_pn5n6_c20231214__us-gaap--BusinessAcquisitionAxis__custom--GemAgreementMember__us-gaap--TypeOfArrangementAxis__custom--GemTermSheetMember_z9EJi6RwNG53" title="Convertible debenture">2.0</span> million convertible debenture having not been finalized, nor the final agreement related to the convertible debenture having been executed, as of December 31, 2023, the Company recognized, concurrent with the close of the merger, a liability for the GEM commitment fee, along with a corresponding GEM commitment fee expense, in the amount of $<span id="xdx_900_eus-gaap--DebtInstrumentFeeAmount_iI_pn5n6_c20231214__us-gaap--BusinessAcquisitionAxis__custom--GemAgreementMember__us-gaap--TypeOfArrangementAxis__custom--GemTermSheetMember_zlrFuddILuh3" title="Commitment fee expense">2.0</span> million.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On February 5, 2024, the Company and GEM entered into a settlement agreement (the “GEM Settlement Agreement”), pursuant to which (a) the Company and GEM agreed to (i) settle the Company’s obligations under and terminate the binding term sheet entered into between Legacy Banzai and GEM, dated December 13, 2023, and (ii) terminate the share repurchase agreement, dated May 27, 2022, by and among the Company and GEM, and (b) the Company (i) agreed to pay GEM $<span id="xdx_90C_ecustom--DebtInstrumentCashAgreedToPay_pn5n6_c20240205__20240205__us-gaap--BusinessAcquisitionAxis__custom--GemAgreementMember_zHdQeBhVnFa6" title="Cash agreed to pay">1.2</span> million in cash within three business days of the GEM Settlement Agreement and (ii) issued to GEM, on February 5, 2024, an unsecured promissory zero coupon note in the amount of $<span id="xdx_902_eus-gaap--DebtInstrumentFaceAmount_iI_pn5n6_c20240205__us-gaap--BusinessAcquisitionAxis__custom--GemAgreementMember_zRavEnJxmsh2" title="Aggregate principal amount">1.0</span> million, payable in monthly installments of $<span id="xdx_90E_eus-gaap--DebtInstrumentPeriodicPayment_c20240205__20240205__us-gaap--BusinessAcquisitionAxis__custom--GemAgreementMember_zm3q6LHXKjH2" title="Monthly installments">100,000</span> beginning on March 1, 2024, with the final payment to be made on December 1, 2024 (the “GEM Promissory Note”). The Company paid GEM the $<span id="xdx_905_eus-gaap--RepaymentsOfLongTermDebt_pn5n6_c20240205__20240205__us-gaap--BusinessAcquisitionAxis__custom--GemAgreementMember_zsDld8xzO1ej" title="Payment of debt">1.2</span> million in cash in February 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The GEM Promissory   Note provides that, in the event the Company fails to make a required monthly payment when due, the Company shall issue to GEM a number of shares of Class A Common Stock equal to the monthly payment amount divided by the VWAP of the Class A Common Stock for the trading day immediately preceding the applicable payment due date. In addition, the Company agreed to register on a registration statement <span id="xdx_90A_ecustom--SharesIssuableUnderPromissoryNote_pid_uShares_c20240205__20240205__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--BusinessAcquisitionAxis__custom--GemAgreementMember_zRQidWhyVcLe" title="Shares issuable under the terms of promissory note">200,000</span> shares of Class A Common Stock that may be issuable under the terms of the GEM Promissory Note. The GEM Promissory Note contains customary events of default. If an event of default occurs, GEM may, at its option, demand from the Company immediate payment of any outstanding balance under the GEM Promissory Note. The GEM Promissory Note is recorded in the line Convertible notes on the Company’s condensed consolidated balance sheets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of June 30, 2025, the Company has issued an aggregate of <span id="xdx_90A_ecustom--SharesIssuableUnderPromissoryNote_pid_uShares_c20250101__20250630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--BusinessAcquisitionAxis__custom--GemAgreementMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z6fcKKBspqhe" title="Shares issuable under the terms of promissory note">19,000</span> shares of Class A Common Stock to GEM in lieu of monthly payment obligations and during the three and six months ended June 30, 2025, the Company paid an aggregate of $<span id="xdx_90E_eus-gaap--ConvertibleDebt_iI_c20250630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--BusinessAcquisitionAxis__custom--GemAgreementMember_zq1bCafi1Guf" title="Convertible debenture">215,057</span> to satisfy the remaining balance of the GEM Promissory Note.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Convertible Notes (Yorkville)</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 14, 2023, in connection with and pursuant to the terms of its Standby Equity Purchase Agreement (“SEPA”) with YA II PN, LTD, a Cayman Islands exempt limited partnership managed by Yorkville Advisors Global, LP (“Yorkville”), (refer to <i>Note 16 - Equity</i> for further details), Yorkville agreed to advance to the Company, in exchange for convertible promissory notes, an aggregate principal amount of up to $<span id="xdx_906_eus-gaap--DebtInstrumentFaceAmount_iI_c20231214__srt--RangeAxis__srt--MaximumMember__us-gaap--TypeOfArrangementAxis__custom--StandbyEquityPurchaseAgreementMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember_zw9cgLe4dxu5" title="Aggregate principal amount">3,500,000</span>, $<span id="xdx_903_eus-gaap--DebtInstrumentFaceAmount_iI_c20231214__srt--RangeAxis__srt--MinimumMember__us-gaap--TypeOfArrangementAxis__custom--StandbyEquityPurchaseAgreementMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember_zRSyaVd1F2cc" title="Aggregate principal amount">2,000,000</span> of which was funded at the Closing in exchange for the issuance by the Company of a Convertible Promissory Note (the “December Yorkville Convertible Note”). The Company received net proceeds of $<span id="xdx_902_eus-gaap--ProceedsFromIssuanceOfDebt_c20231214__20231214__us-gaap--TypeOfArrangementAxis__custom--StandbyEquityPurchaseAgreementMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember_zElfpPIbXa5k" title="Proceeds from issuance of debt">1,800,000</span> after a non-cash original issue discount of $<span id="xdx_904_eus-gaap--AmortizationOfDebtDiscountPremium_c20231214__20231214__us-gaap--TypeOfArrangementAxis__custom--StandbyEquityPurchaseAgreementMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember_zlWSOGuNPwD7" title="Debt discount upon issuance">200,000</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On February 5, 2024, the Company and Yorkville entered into a supplemental agreement (the “SEPA Supplemental Agreement”) to increase the amount of convertible promissory notes allowed to be issued under SEPA by $<span id="xdx_905_ecustom--IncreasedPrincipalAmountAgreedToAdvance_iI_c20240205__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_z6iyCJo3aop4" title="Increased principal amount agreed to advance">1,000,000</span> (the “Additional Pre-Paid Advance Amount”), for an aggregate principal amount of $<span id="xdx_900_ecustom--AggregatePrincipalAmount_iI_c20240205_zZAeNsNaTnu7" title="Aggregate principal amount">4,500,000</span> to be advanced by Yorkville to the Company in the form of convertible promissory notes. On February 5, 2024 in exchange for a promissory note in the principal amount of $<span id="xdx_909_eus-gaap--DebtInstrumentFaceAmount_iI_c20240205__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_zcySDmMSP8z8" title="Aggregate principal amount">1,000,000</span> (the “February Yorkville Promissory Note”), with the same terms as the December Yorkville Convertible Note, the Company received net proceeds of $<span id="xdx_909_eus-gaap--ProceedsFromIssuanceOfDebt_c20240205__20240205__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_zH24w6GIZGbk" title="Net proceeds from issuance of convertible promissory notes">900,000</span> after an original issue discount of $<span id="xdx_902_eus-gaap--AmortizationOfDebtDiscountPremium_c20240205__20240205__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_zIDvMhDyAjAi" title="Debt discount upon issuance">100,000</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 26, 2024, the Company, in exchange for a convertible promissory note with a principal amount of $<span id="xdx_905_eus-gaap--DebtInstrumentFaceAmount_iI_c20240326__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_z6CyQadpWIQj" title="Debt Instrument, Face Amount">1,500,000</span> (the “March Yorkville Promissory Note” and, together with the December Yorkville Convertible Note and February Yorkville Promissory Note the” Yorkville Promissory Notes”), received net proceeds of $<span id="xdx_90F_eus-gaap--ProceedsFromIssuanceOfDebt_c20240326__20240326__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_zNOk2dOr36We" title="Proceeds from issuance of debt">1,250,000</span> after an original issue discount of $<span id="xdx_909_eus-gaap--AmortizationOfDebtDiscountPremium_c20240326__20240326__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_zyHeJQXuDwjb" title="Debt discount upon issuance">250,000 </span>from Yorkville.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On May 3, 2024, the Company and Yorkville entered into a Debt Repayment Agreement (the “Original Debt Repayment Agreement”) with respect to the Yorkville Promissory Notes. Under the Original Debt Repayment Agreement, Yorkville agreed that, upon completion of a Company registered offering and repayment of an aggregate $<span id="xdx_903_eus-gaap--DebtInstrumentFaceAmount_iI_c20240503__us-gaap--TypeOfArrangementAxis__custom--OriginalDebtRepaymentAgreementMember_z89LNzWlDb27" title="Debt Instrument, Face Amount">2,000,000</span> outstanding under the Yorkville Promissory Notes (the “Original Repayment Amount”), Yorkville would not deliver to the Company any Investor Notice (as defined in the SEPA) and would not exercise its right to convert the remainder of the amount outstanding under the Promissory Notes for a period commencing on the date of the closing of the offering and ending on the date that is 90 days thereafter. Under the Original Debt Repayment Agreement, the Company and Yorkville also agreed to extend the maturity date of the Promissory Notes to the date that is 120 days after the closing of the offering and to satisfy the $<span id="xdx_909_eus-gaap--RepaymentsOfDebt_c20240503__20240503__us-gaap--TypeOfArrangementAxis__custom--OriginalDebtRepaymentAgreementMember_zbmUWaBu68Ag" title="Premium payment">200,000</span> payment premium due in connection with an early redemption through the issuance of an Advance Notice (as defined in the SEPA) for shares of the Company’s Class A common stock, par value $<span id="xdx_90D_eus-gaap--CommonStockParOrStatedValuePerShare_iI_pid_c20240503__us-gaap--TypeOfArrangementAxis__custom--OriginalDebtRepaymentAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zQuoxq3diEC4" title="Common stock, par value">0.0001</span> per share. The Debt Repayment Agreement was conditioned on the completion of the offering by June 2, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On May 22, 2024, the Company and Yorkville entered into an Amended and Restated Debt Repayment Agreement (the “Amended Debt Repayment Agreement”) with respect to the Yorkville Promissory Notes, which amends and restates the Original Debt Repayment Agreement. Under the Amended Debt Repayment Agreement, Yorkville has agreed that, upon completion of a registered offering and repayment of an aggregate $<span id="xdx_901_eus-gaap--DebtInstrumentFaceAmount_iI_c20240522__us-gaap--TypeOfArrangementAxis__custom--AmendedDebtRepaymentAgreementMember_z7uv2f4j8SP1" title="Debt Instrument, Face Amount">750,000</span> outstanding under the Yorkville Promissory Notes (the “Amended Repayment Amount”), Yorkville will not deliver to the Company any Investor Notice (as defined in the SEPA) and will not exercise its right to convert the remainder of the amount outstanding under the Promissory Notes for a period commencing on the date of the closing of the offering and ending on the date that is 90 days thereafter (the “Stand-still Period”); provided that the Company will seek any consents necessary to allow Yorkville to issue Investor Notices or exercise its right to convert the remainder of the amount outstanding under the Promissory Notes after a period of 60 days following the closing of the offering. Under the Amended Debt Repayment Agreement, the Company and</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yorkville also agreed to extend the maturity date of the Promissory Notes to the date that is 120 days after the closing of the offering and to satisfy the $<span id="xdx_906_eus-gaap--RepaymentsOfDebt_c20240522__20240522__us-gaap--TypeOfArrangementAxis__custom--AmendedDebtRepaymentAgreementMember_z75nTFTIbFAk" title="Premium payment">75,000</span> payment premium due in connection with an early redemption through the issuance of an Advance Notice for shares of Class A Common Stock (the “Q2 Prepayment Premium”). The Amended Debt Repayment Agreement was conditioned on the completion of the offering by May 29, 2024, which condition was satisfied upon the closing of the offering on May 28, 2024 (the “May 2024 Offering”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to the terms of the Amended Repayment Agreement, the Company made a cash principal payment of $<span id="xdx_90E_ecustom--AggregatePrincipalAmount_iI_c20240522__us-gaap--TypeOfArrangementAxis__custom--AmendedDebtRepaymentAgreementMember_zGwcaTBIpGrb" title="Aggregate principal amount">750,000</span> on May 31, 2024 (the “Repayment Date”), and issued an Advance Notice for the purchase of <span id="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_c20240522__20240522__us-gaap--TypeOfArrangementAxis__custom--AmendedDebtRepaymentAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zGRtqcpaVEh2" title="Share purchase">1,200</span> shares of Class A Common Stock (the “Premium Advance Shares”) (representing the number of shares the Company reasonably believed would be sufficient to result in net proceeds of $<span id="xdx_907_eus-gaap--ProceedsFromIssuanceOfDebt_c20240522__20240522__us-gaap--TypeOfArrangementAxis__custom--AmendedDebtRepaymentAgreementMember_zdppOMC5GWli" title="Proceeds from Issuance of Debt">75,000</span> as of the Repayment Date) (the “Premium Advance”). The total purchase price for the Premium Advance was $<span id="xdx_908_eus-gaap--DebtInstrumentUnamortizedPremium_iI_c20240522__us-gaap--TypeOfArrangementAxis__custom--AmendedDebtRepaymentAgreementMember_z1mxrB7ftboj" title="Premium advance">110,040</span>, of which $75,000 was applied in satisfaction of the Payment Premium, and the remaining $<span id="xdx_900_eus-gaap--ProceedsFromRepaymentsOfDebt_c20240522__20240522__us-gaap--TypeOfArrangementAxis__custom--AmendedDebtRepaymentAgreementMember_z3OWbGUKVzxf" title="Premium remaining payment">35,040</span> was paid by Yorkville to the Company in cash (the “Cash Surplus”). The Premium Advance Shares were recorded at fair value totaling $<span id="xdx_905_eus-gaap--DebtInstrumentFairValue_iI_c20240522__us-gaap--TypeOfArrangementAxis__custom--AmendedDebtRepaymentAgreementMember_zR9RogdS0bGj" title="Premium fair value">115,800</span> on the Repayment Date, and the excess of fair value over the Cash Surplus was recorded to the consolidated statement of operations in line Yorkville prepayment premium expense.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 20, 2024, the Company entered into a Floor Price Reduction Agreement (the “Floor Price Reduction Agreement”) with Yorkville. The Company and Yorkville, pursuant to the Floor Price Adjustment Agreement, agreed to amend and restate the prior repayment agreements such that the outstanding principal under the Amended Debt Repayment Agreement was reduced to $<span id="xdx_90D_eus-gaap--RepaymentsOfDebt_pn5n6_c20240920__20240920__us-gaap--TypeOfArrangementAxis__custom--FloorPriceReductionAgreementMember_zcf4E6TBbNc4" title="Debt repayment">0.7</span> million, with no remaining interest, the floor price, as described in the Outstanding Promissory Notes, was adjusted to $<span id="xdx_906_ecustom--FloorPrice_iI_pid_c20240920__us-gaap--TypeOfArrangementAxis__custom--FloorPriceReductionAgreementMember_zGjpEajgtNQ5" title="Floor price">20.00</span>, and the maturity date for the Outstanding Promissory Notes is extended by 120 days to January 17, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Yorkville Promissory Notes have a maturity date (as modified by the Floor Price Reduction Agreement) of <span id="xdx_908_eus-gaap--DebtInstrumentMaturityDate_c20240920__20240920__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember__us-gaap--TypeOfArrangementAxis__custom--FloorPriceReductionAgreementMember_zN05lnmgNUjd" title="Debt Instrument, Maturity Date">January 17, 2025</span>, and accrue interest at <span id="xdx_908_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20240920__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember__us-gaap--TypeOfArrangementAxis__custom--FloorPriceReductionAgreementMember_zu7gRb1DRXmg" title="Debt instrument, interest rate">0</span>% per annum, subject to an increase to <span id="xdx_90E_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20240920__us-gaap--TypeOfArrangementAxis__custom--AmendedDebtRepaymentAgreementMember__dei--LegalEntityAxis__custom--FloorPriceReductionAgreementMember_z3OjGJYrviii" title="Debt instrument, interest rate">18</span>% per annum upon events of default as defined in the agreement. As of June 30, 2025, no events of default have occurred.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yorkville has the   right to convert any portion of the outstanding principal into shares of Class A common stock at any time subsequent to the Stand-still Period through maturity. The number of shares issuable upon conversion is equal to the amount of principal to be converted (as specified by Yorkville) divided by the Conversion Price (as defined in the Standby Equity Purchase Agreement disclosure in <i>Note 16</i>). Yorkville will not have the right to convert any portion of the principal to the extent that after giving effect to such conversion, Yorkville would beneficially own in excess of <span id="xdx_907_eus-gaap--DebtConversionConvertedInstrumentRate_pid_dp_uPure_c20240920__20240920__us-gaap--TypeOfArrangementAxis__custom--StandbyEquityPurchaseAgreementMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zbOA3w8KQuvc" title="Conversion rate percentage of common stock outstanding">9.99</span>% of the total number of shares of Class A common stock outstanding after giving effect to such conversion.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additionally, the Company, at its option, shall have the right, but not the obligation, to redeem early a portion or all amounts outstanding under the Promissory Notes at a redemption amount equal to the outstanding principal balance being repaid or redeemed, plus a <span id="xdx_901_ecustom--PercentageOfPrepaymentPremium_iI_pid_dp_uPure_c20240920__us-gaap--TypeOfArrangementAxis__custom--StandbyEquityPurchaseAgreementMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember_zqyMy2gPhMJa" title="Prepayment premium">10</span>% prepayment premium, plus all accrued and unpaid interest; provided that (i) the Company provides Yorkville with no less than ten trading days’ prior written notice thereof and (ii) on the date such notice is issued, the VWAP of the Class A common stock is less than the Fixed Price.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon the occurrence of certain triggering events, as defined in the Yorkville Promissory Notes agreement (each an “Amortization Event”), the Company may be required to make monthly repayments of amounts outstanding under the Yorkville Promissory Notes, with each monthly repayment to be in an amount equal to the sum of (x) $<span id="xdx_90F_eus-gaap--RepaymentsOfConvertibleDebt_c20240522__20240522__us-gaap--TypeOfArrangementAxis__custom--StandbyEquityPurchaseAgreementMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember__us-gaap--DebtInstrumentAxis__custom--YorkvilleConvertibleNotesMember_z4MsUztVls3l" title="Prepayment premium">1,000,000</span>, plus (y) <span id="xdx_907_ecustom--PercentageOfRepaymentOfConvertibleDebtAmount_iI_pid_dp_uPure_c20240522__us-gaap--TypeOfArrangementAxis__custom--StandbyEquityPurchaseAgreementMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember__us-gaap--DebtInstrumentAxis__custom--YorkvilleConvertibleNotesMember_zm3X5Oerz5jh" title="Percentage of repayment of convertible debt, amount">10</span>% in respect of such amount, and (z) all outstanding accrued and unpaid interest as of each payment date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During January 2024, the Company’s stock price per share fell below the then in effect Floor Price (as defined in the Standby Equity Purchase Agreement disclosure in <i>Note 16</i>) of $<span id="xdx_901_ecustom--MaximumFloorPrice_iI_c20240131__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_z8v6B8x7yAg1" title="Maximum floor price">20.00</span> for five trading days during a period of seven consecutive trading days (an Amortization Event under the terms of the December Yorkville Convertible Note agreement), thus triggering amortization payments under the terms of the December Yorkville Convertible Note. On January 24, 2024, Yorkville agreed to waive the Amortization Event trigger, prior to the date upon which any amortization payment would have been required. As discussed in the definitions below, the Floor Price was reset on February 14, 2024, in conjunction with the effective date of the Company’s Registration Statement, at a price of $<span id="xdx_90D_ecustom--FloorPrice_iI_pid_c20240131__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_z3nv5ZUYnMy4" title="Floor price">2.94</span> per share of Common Stock, thus curing the Amortization Event condition.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2024, $<span id="xdx_90D_eus-gaap--ProceedsFromRepaymentsOfDebt_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--StandbyEquityPurchaseAgreementMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember_zAJ8UzC46fa3" title="Debt Instrument, Face Amount">2,000,000</span> of the full outstanding principal under the December Yorkville Convertible Note, respectively, was converted into <span id="xdx_90C_eus-gaap--ConversionOfStockSharesConverted1_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--StandbyEquityPurchaseAgreementMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zCVnHTuC8jF2" title="Conversion of Stock, Shares Converted">27,538</span> shares of Class A Common stock of the Company. During the year ended December 31, 2024, the full principal amount of $<span id="xdx_907_eus-gaap--DebtInstrumentFaceAmount_iI_c20241231__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--FebruaryYorkvillePromissoryNoteMember_zOyakZqO9CPl" title="Debt Instrument, Face Amount">1,000,000</span> under the February Yorkville Promissory Note was converted into <span id="xdx_90F_eus-gaap--ConversionOfStockSharesConverted1_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--FebruaryYorkvillePromissoryNoteMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zEWlu0clxv02" title="Conversion of stock shares converted">2,891</span> Class A Common stock of the Company. During the year ended December 31, 2024, the full outstanding principal amount of $<span id="xdx_909_eus-gaap--DebtInstrumentFaceAmount_iI_c20241231__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--MarchYorkvillePromissoryNoteMember_zVbw9vtFOw3f" title="Debt Instrument, Face Amount">750,000</span> under the March Yorkville Promissory Note was converted into <span id="xdx_90A_eus-gaap--ConversionOfStockSharesConverted1_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--MarchYorkvillePromissoryNoteMember_z9yEGtIVbqu9" title="Conversion of stock shares converted">14,986</span>, Class A Common stock of the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 30, 2025 (the “Issuance Date”), in connection with and pursuant to the terms of the SEPA (refer to <i>Note 16 – Equity</i> for further details), Yorkville agreed to advance to the Company, in exchange for a Convertible Promissory Note (the “Yorkville Note”), a total principal amount of $<span id="xdx_90D_eus-gaap--DebtInstrumentFaceAmount_iI_c20250130__us-gaap--StatementClassOfStockAxis__custom--StandbyEquityPurchaseAgreementMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember_zGQEBKujtxfa" title="Aggregate principal amount">3,500,000</span>. The Company received net proceeds of $<span id="xdx_90C_eus-gaap--ProceedsFromIssuanceOfDebt_c20250130__20250130__us-gaap--StatementClassOfStockAxis__custom--StandbyEquityPurchaseAgreementMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember_z55uL2eDD4Cd" title="Cash proceeds from issuance of convertible notes">3,140,000</span> after a non-cash original issue discount of $<span id="xdx_904_eus-gaap--AmortizationOfDebtDiscountPremium_c20250130__20250130__us-gaap--StatementClassOfStockAxis__custom--StandbyEquityPurchaseAgreementMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember_z4vklsLUel48" title="Debt discount upon issuance">350,000</span>, and $<span id="xdx_90C_eus-gaap--DeferredFinanceCostsNet_iI_c20250130__us-gaap--StatementClassOfStockAxis__custom--StandbyEquityPurchaseAgreementMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember_zO0t5l3Cnupb" title="Debt issuance costs">10,00</span> debt issuance costs paid to Yorkville.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Yorkville Note has a maturity date of <span id="xdx_903_eus-gaap--DebtInstrumentMaturityDate_dd_c20250130__20250130__us-gaap--DebtInstrumentAxis__custom--YorkvilleConvertibleNoteMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember_zRjEOGohrKx4" title="Debt instrument, maturity date">July 31, 2025</span>, but may be extended at the option of the Company. Beginning on the 30^th day from the Issuance Date, and continuing on the same day of each successive calendar month thereafter, (each, an “Installment Date”), the Company shall repay a portion of the outstanding balance of the Yorkville Note in an amount equal to the sum of (i) $<span id="xdx_904_eus-gaap--RepaymentsOfConvertibleDebt_c20250130__20250130__us-gaap--DebtInstrumentAxis__custom--YorkvilleConvertibleNoteMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember_zhJT1FG5fwqd" title="Repayment in cash of Yorkville convertible notes">1,000,000</span> of principal (or the outstanding Principal if less than such amount), plus (ii) a payment premium (in an amount equal to <span id="xdx_905_ecustom--ConvertiblePromissoryNotePaymentPremiumPercentage_pid_dp_uPure_c20250130__20250130__us-gaap--DebtInstrumentAxis__custom--YorkvilleConvertibleNoteMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember_zwOZqaGUFqjj" title="Convertible promissory note, payment premium percentage">4</span>% of the Principal amount being paid (the “Payment Premium”), and (iii) accrued and unpaid interest as of each Installment Date (collectively, the “Installment Amount”). The Company maintains the right to pay each Installment Amount in cash or via an Advance Notice pursuant to the SEPA or any combination thereof. The Note bears an interest rate of <span id="xdx_908_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20250130__us-gaap--DebtInstrumentAxis__custom--YorkvilleConvertibleNoteMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember__srt--RangeAxis__srt--MinimumMember_zfrqa1ALWGAf" title="Debt instrument, interest rate, stated percentage">0</span>% for the first 90 days following the Issuance Date, and 6% thereafter (the “Interest Rate”). The Interest Rate shall increase to an annual rate of <span id="xdx_908_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20250130__us-gaap--DebtInstrumentAxis__custom--YorkvilleConvertibleNoteMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember_zNQZbZH1XwB9" title="Debt instrument, interest rate, stated percentage">18</span>% upon the occurrence of an Event of Default (as defined by the Yorkville Note). The Yorkville Note is convertible into shares of the Company’s Class A common stock, par value $<span id="xdx_908_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20250130__us-gaap--DebtInstrumentAxis__custom--YorkvilleConvertibleNoteMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zCq0uG9jav2h" title="Common stock, par value">0.0001</span> per share (the “Class A Common Stock”), at a conversion price of $<span id="xdx_90C_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_c20250130__us-gaap--DebtInstrumentAxis__custom--YorkvilleConvertibleNoteMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zf5M2E1JSckf" title="Debt instrument conversion price per share">20.00</span> per share (the “Conversion Price”). The Investor may elect to convert part or all of the outstanding balance of the Note at any time or from time to time after the Issuance Date. The Company may prepay the outstanding amount at any time, in whole or in part, subject to a <span id="xdx_909_ecustom--ConvertiblePromissoryNotePaymentPremiumPercentage_pid_dp_uPure_c20250130__20250130__us-gaap--DebtInstrumentAxis__custom--YorkvilleConvertibleNoteMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember_zPNWsTh0ZtJe" title="Convertible promissory note, payment premium percentage">4</span>% premium, provided that (i) the Company provides the Investor with at least <span id="xdx_908_ecustom--MinimumRedemptionNoticePeriod_dtD_c20250130__20250130__us-gaap--DebtInstrumentAxis__custom--YorkvilleConvertibleNoteMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember_zmeUa6oJaXL2" title="Minimum redemption notice period">10</span> trading days’ prior written notice (each, a “Redemption Notice”) of its desire to prepay the outstanding amount (an “Optional Redemption”), and (ii) on the date the Redemption Notice is issued, the VWAP of the Class A Common Stock is less than the Conversion Price.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company determined that the Yorkville Note was eligible for the fair value option election in accordance with ASC 825-10-50-28, and made such election to account for the Yorkville Note at fair value. The Company estimated the fair value of the Yorkville Note at issuance using a Monte Carlo simulation, using the following key inputs: principal on the Yorkville Note of $<span id="xdx_901_eus-gaap--DebtInstrumentFaceAmount_iI_c20250130__us-gaap--DebtInstrumentAxis__custom--YorkvillePromissoryNotesMember_zTtvRGgPP7Mg" title="Aggregate principal amount">3,500,000</span>; remaining term of <span id="xdx_901_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20250130__20250130__us-gaap--DebtInstrumentAxis__custom--YorkvillePromissoryNotesMember_zkxJY2pgz7Fe" title="Time to maturity">.50</span> years; the fair value of the Company’s Class A common stock on the valuation date of $<span id="xdx_90B_eus-gaap--SharePrice_iI_c20250130__us-gaap--DebtInstrumentAxis__custom--YorkvillePromissoryNotesMember_zM9kUVA6q2rd" title="Stock price">22.40</span> per share; a market interest rate of <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsDiscountForPostvestingRestrictions_pid_dp_uPure_c20250130__20250130__us-gaap--DebtInstrumentAxis__custom--YorkvillePromissoryNotesMember_z0t8sPpDUbVg" title="Discounted market interest rate">8.7</span>%; a risk-free rate of <span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20250130__20250130__us-gaap--DebtInstrumentAxis__custom--YorkvillePromissoryNotesMember_zQULWhUg88b2" title="Risk-free interest rate">4.27</span>%; equity volatility of <span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20250130__20250130__us-gaap--DebtInstrumentAxis__custom--YorkvillePromissoryNotesMember_zodAs9EOTSnl" title="Estimated equity volatility">224.0</span>%; and the Payment Premium of <span id="xdx_905_ecustom--ConvertiblePromissoryNotePaymentPremiumPercentage_pid_dp_uPure_c20250130__20250130__us-gaap--DebtInstrumentAxis__custom--YorkvillePromissoryNotesMember_zFc9Uux3SYFk" title="Convertible promissory note, payment premium percentage">4</span>%.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to the Yorkville Note, the Company made payments totaling approximately $<span id="xdx_909_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20250130__us-gaap--DebtInstrumentAxis__custom--YorkvillePromissoryNotesMember_z4HrxdfIs4g4" title="Debt instrument, principal payment">3,640,000</span>, of which approximately $<span id="xdx_900_eus-gaap--DebtInstrumentIssuedPrincipal_c20250130__20250130__us-gaap--DebtInstrumentAxis__custom--YorkvillePromissoryNotesMember_zzK8mlkNZHA" title="Aggregate outstanding, principal amount">3,500,000</span> was applied against outstanding principal, and approximately $<span id="xdx_904_eus-gaap--RedemptionPremium_c20250130__20250130__us-gaap--DebtInstrumentAxis__custom--YorkvillePromissoryNotesMember_zngcjPGwHvUf" title="Redemption premium amount">140,000</span> was paid to Yorkville as Payment Premiums and expensed as incurred.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the three months and six months ended June 30, 2025, the Company recognized a loss of approximately $<span id="xdx_902_ecustom--FairValueAdjustmentOfConvertibleNote_c20250401__20250630_z03gxoJfBUE5" title="Fair value adjustment of convertible note">78,900</span> and $<span id="xdx_90D_ecustom--FairValueAdjustmentOfConvertibleNote_c20250101__20250630_zMdmyY55xbi6" title="Fair value adjustment of convertible note">238,000</span>, respectively, on the change in fair value of the Yorkville Note. The Company estimated the fair value of the Yorkville Note at March 31, 2025 using a Monte Carlo simulation, using the following key inputs: outstanding principal on the Yorkville Note of approximately $<span id="xdx_903_eus-gaap--DebtInstrumentFaceAmount_iI_c20250331__us-gaap--DebtInstrumentAxis__custom--YorkvillePromissoryNotesMember_zwbFGoYfBYRi" title="Aggregate principal amount">1,695,000</span>; remaining term of <span id="xdx_900_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20250101__20250331__us-gaap--DebtInstrumentAxis__custom--YorkvillePromissoryNotesMember_zGz1LepA84y2" title="Expected term">.33</span> years; the fair value   of the Company’s Class A common stock on the valuation date of $<span id="xdx_909_eus-gaap--SharePrice_iI_c20250331__us-gaap--DebtInstrumentAxis__custom--YorkvillePromissoryNotesMember_zRcqdKrNksPa" title="Stock price">11.20</span> per share; a market interest rate of <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsDiscountForPostvestingRestrictions_pid_dp_uPure_c20250101__20250331__us-gaap--DebtInstrumentAxis__custom--YorkvillePromissoryNotesMember_zR74ic781NF6" title="Discounted market interest rate">11.3</span>%; a risk-free rate of <span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20250101__20250331__us-gaap--DebtInstrumentAxis__custom--YorkvillePromissoryNotesMember_zikTD9vPmF8l" title="Risk-free interest rate">4.29</span>%; equity volatility of <span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20250101__20250331__us-gaap--DebtInstrumentAxis__custom--YorkvillePromissoryNotesMember_zZlxf8siKGo7" title="Estimated equity volatility">171.0</span>%; and the Payment Premium of <span id="xdx_900_ecustom--ConvertiblePromissoryNotePaymentPremiumPercentage_pid_dp_uPure_c20250101__20250331__us-gaap--DebtInstrumentAxis__custom--YorkvillePromissoryNotesMember_z41jGRhwjyf" title="Convertible promissory note, payment premium percentage">4</span>%. As of June 30, 2025 the note was fully repaid.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the three and six months ended June 30, 2024, the Company recorded a loss of $<span id="xdx_906_ecustom--FairValueAdjustmentOfPromissoryNote_c20250401__20250630_zEqKirCENWJ3" title="Fair Value adjustment of promissory note">34,000</span> and $<span id="xdx_90C_ecustom--FairValueAdjustmentOfPromissoryNote_c20250101__20250630_ziNeLWrlqsV8" title="Fair Value adjustment of promissory note">578,000</span>, respectively, related to the change in fair value of the Yorkville Promissory Notes liability, respectively. The Company used Monte Carlo simulation models in order to determine the Yorkville Promissory Note’s fair value at June 30, 2024, with the following inputs: the fair value of the Company’s common stock of $<span id="xdx_901_eus-gaap--SharePrice_iI_c20250630__us-gaap--DebtInstrumentAxis__custom--YorkvillePromissoryNotesMember_zljQvyGbuTV" title="Stock price">0.17</span> on June 30, 2024, estimated equity volatility of <span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20250101__20250630__us-gaap--DebtInstrumentAxis__custom--YorkvillePromissoryNotesMember_zqDh9YHN9s3j" title="Estimated equity volatility">125</span>%, the time to maturity of <span id="xdx_906_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20250101__20250630__us-gaap--DebtInstrumentAxis__custom--YorkvillePromissoryNotesMember_zTp0iOTDgr7h" title="Expected term">0.24</span> years, a discounted market interest rate of <span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsDiscountForPostvestingRestrictions_pid_dp_uPure_c20250101__20250630__us-gaap--DebtInstrumentAxis__custom--YorkvillePromissoryNotesMember_zVIWpGcr4hqd" title="Discounted market interest rate">20.6</span>%, a risk free rate of <span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20250101__20250630__us-gaap--DebtInstrumentAxis__custom--YorkvillePromissoryNotesMember_z7VUsfolWGu2" title="Risk-free interest rate">5.48</span>%, and probability of optional redemption <span id="xdx_90E_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsProbabilityOptionalRedemptionRate_pid_dp_uPure_c20250101__20250630__us-gaap--DebtInstrumentAxis__custom--YorkvillePromissoryNotesMember_zRArLIfhIcYb" title="Probability of optional redemption rate">75.0</span>%.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Convertible notes - related party </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Term and Convertible Notes - related party (CP BF)</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During 2021, the Company entered into a loan agreement with CP BF Lending, LLC (“CP BF”) comprised of a Term Note and a Convertible Note. The Term Note bears cash interest at a rate of <span id="xdx_908_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20211231__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember__us-gaap--LongtermDebtTypeAxis__custom--TermNoteMember_zCDzhOVUq2o6" title="Debt instrument, interest rate">14</span>% per annum paid monthly and accrued interest payable-in-kind (“PIK”) cumulatively at <span id="xdx_901_ecustom--PaidInKindInterestPercentage_iI_dp_uPure_c20211231__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember__us-gaap--LongtermDebtTypeAxis__custom--TermNoteMember_zvXwsOVjq9R9" title="Paid In Kind Interest percentage">1.5</span>% per annum. The outstanding principal balance of the Term Note together with accrued and unpaid interest thereon, unpaid fees and expenses and any other Obligations then due, shall be paid on February 19, 2025 (“Loan Maturity Date”). The Convertible Note accrues PIK interest cumulatively at a rate of <span id="xdx_900_ecustom--PaidInKindInterestPercentage_iI_dp_uPure_c20211231__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zoLeNQYinmG2" title="Paid in kind interest">15.5</span>% per annum, and is convertible into Class A Common Stock upon Qualified Financing (as defined in the agreement), upon a Change of Control (as defined in the agreement), upon Prepayment, or at Maturity at a fixed conversion price of $<span id="xdx_906_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_pid_c20211231__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--AwardTypeAxis__custom--ReverseStockSplitMember_zBwZwmAmUc3l" title="Conversion Price">1,336.40</span> per unit. If not sooner converted or prepaid, the Convertible Note principal together with accrued and unpaid interest thereon, unpaid fees and expenses and any other Obligations then due, shall be paid on the Loan Maturity Date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90F_eus-gaap--DebtInstrumentCovenantCompliance_c20250101__20250630__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember_z1zdW1bKcyNl" title="Debt Instrument, covenant compliance description">For all respective periods presented, the Company was not in compliance with the Minimum Gross Profit Margin covenant in section 7.14.1 of the Loan Agreement, the Minimum ARR Growth covenant in section 7.14.2 of the Loan Agreement, and the Fixed Charge Coverage Ratio covenant in section 7.14.3 of the Loan Agreement. As a result of the Company’s noncompliance with the financial covenants, the entire principal amount and all unpaid and accrued interest will be classified as current on the Company’s consolidated balance sheets.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On October 10, 2022 the Loan Agreement was amended, where CP BF waived payment by the Company of four months of cash interest with respect to the Term Note in replacement for a Convertible Note (“First Amendment Convertible Note”) in the principal amount of $321,345, which is not considered an Additional Loan as defined above. The First Amendment Convertible Note has the same features as the Convertible Note described above.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The effective interest rate for the Term Note was <span id="xdx_906_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_dp_uPure_c20240630__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember__us-gaap--LongtermDebtTypeAxis__us-gaap--MediumTermNotesMember_zZojQKw1L3L" title="Effective interest rate percentage">16</span>% for the three and six months ended June 30, 2024. For the three and six months ended June 30, 2024, interest expense on the Term Note totaled $<span id="xdx_900_eus-gaap--InterestExpense_c20240401__20240630__us-gaap--LongtermDebtTypeAxis__us-gaap--MediumTermNotesMember__us-gaap--DebtInstrumentAxis__custom--LoanAgreementWithCpbfLendingLlcMember_zzsL7DNj3ZMb" title="Interest expense">294,613</span> and $<span id="xdx_90E_eus-gaap--InterestExpense_c20240101__20240630__us-gaap--LongtermDebtTypeAxis__us-gaap--MediumTermNotesMember__us-gaap--DebtInstrumentAxis__custom--LoanAgreementWithCpbfLendingLlcMember_zKvvnVfUAELb" title="Interest expense">586,940</span>, respectively, comprised of $<span id="xdx_909_eus-gaap--InterestExpenseDebt_c20240401__20240630__us-gaap--LongtermDebtTypeAxis__custom--TermNoteMember__us-gaap--DebtInstrumentAxis__custom--LoanAgreementWithCpbfLendingLlcMember_zLbyHwJ2dJFk" title="Interest expense debt">267,359</span> and $<span id="xdx_902_eus-gaap--InterestExpenseDebt_c20240101__20240630__us-gaap--LongtermDebtTypeAxis__custom--TermNoteMember__us-gaap--DebtInstrumentAxis__custom--LoanAgreementWithCpbfLendingLlcMember_zf0N90Dh5XVf" title="Interest expense debt">533,707</span>, respectively, of contractual interest and $<span id="xdx_902_eus-gaap--DebtRelatedCommitmentFeesAndDebtIssuanceCosts_c20240401__20240630__us-gaap--LongtermDebtTypeAxis__us-gaap--MediumTermNotesMember__us-gaap--DebtInstrumentAxis__custom--LoanAgreementWithCpbfLendingLlcMember_z5b1pGt74Blj" title="Interest expense debt">27,254</span> and $<span id="xdx_902_eus-gaap--DebtRelatedCommitmentFeesAndDebtIssuanceCosts_c20240101__20240630__us-gaap--LongtermDebtTypeAxis__us-gaap--MediumTermNotesMember__us-gaap--DebtInstrumentAxis__custom--LoanAgreementWithCpbfLendingLlcMember_zoTigoybvqQc" title="Interest expense debt">53,233</span>, respectively, for the amortization of the discount. The effective interest rate for the CP BF Convertible Note and First Amendment Convertible Note was <span id="xdx_900_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_dp_uPure_c20240630__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zf5SUFMPKJV1" title="Effective interest rate percentage">16</span>% for the three and six months ended June 30, 2024. For the three and six months ended June 30, 2024, interest expense on the Convertible Notes totaled $<span id="xdx_903_eus-gaap--InterestExpense_c20240401__20240630__us-gaap--LongtermDebtTypeAxis__us-gaap--MediumTermNotesMember__us-gaap--DebtInstrumentAxis__us-gaap--ConvertibleDebtMember_zbgDYs2fsgI6" title="Interest expense">121,448</span> and $<span id="xdx_908_eus-gaap--InterestExpense_c20240101__20240630__us-gaap--LongtermDebtTypeAxis__us-gaap--MediumTermNotesMember__us-gaap--DebtInstrumentAxis__us-gaap--ConvertibleDebtMember_z3spmlxHotCg" title="Interest expense">237,859</span>, respectively, comprised of $<span id="xdx_909_eus-gaap--InterestExpenseDebt_c20240401__20240630__us-gaap--LongtermDebtTypeAxis__custom--TermNoteMember__us-gaap--DebtInstrumentAxis__us-gaap--ConvertibleDebtMember_zfs8hZhrMfZ1" title="Interest expense debt">112,908</span> and $<span id="xdx_901_eus-gaap--InterestExpenseDebt_c20240101__20240630__us-gaap--LongtermDebtTypeAxis__custom--TermNoteMember__us-gaap--DebtInstrumentAxis__us-gaap--ConvertibleDebtMember_zUJNrcFhatN5" title="Interest expense debt">221,504</span>, respectively, of contractual interest and $<span id="xdx_90B_eus-gaap--DebtRelatedCommitmentFeesAndDebtIssuanceCosts_c20240401__20240630__us-gaap--LongtermDebtTypeAxis__us-gaap--MediumTermNotesMember__us-gaap--DebtInstrumentAxis__us-gaap--ConvertibleDebtMember_zDpEoDFxFRek" title="Interest expense debt">8,540</span> and $<span id="xdx_908_eus-gaap--DebtRelatedCommitmentFeesAndDebtIssuanceCosts_c20240101__20240630__us-gaap--LongtermDebtTypeAxis__us-gaap--MediumTermNotesMember__us-gaap--DebtInstrumentAxis__us-gaap--ConvertibleDebtMember_zzp1KZui5j8a" title="Interest expense debt">16,355</span>, respectively, for the amortization of the discount.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company utilizes a combination of scenario-based methods and Black-Scholes option pricing models to determine the average share count outstanding at conversion and the simulated price per share for the Company as of the valuation date. Key inputs into these models included the timing and probability of the identified scenarios, and for Black-Scholes option pricing models used for notes that included a valuation cap, equity values, risk-free rate and volatility.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Convertible notes - related party (CP BF restructuring)</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 5, 2024, the Company entered into a side letter to the loan agreement with CP BF whereby the Company agreed to consolidate the Term Note, CP BF Convertible Note and First Amendment Convertible Note (combined the “Old CP BF Notes”) into a single convertible note (the “2024 CP BF Convertible Note”). In accordance with ASC 470 Debt, the Company treated the Old CP BF Notes as extinguished and recognized a loss on debt extinguishment of $<span id="xdx_90E_eus-gaap--GainsLossesOnExtinguishmentOfDebt_c20240905__20240905__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyFourCPBFConvertibleNoteMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z1FHqsj4JQJ7" title="Loss on extinguishment of debt">6,529,402</span>, determined by the sum of the fair value of the 2024 CP BF Convertible Note, plus the fair value of the additional equity consideration given as part of the side letter and share purchase agreement, as discussed below, in excess of the carrying value of the Old CP BF Notes. After consideration of the below transactions it was determined CP BF is a related party as they own approximately <span id="xdx_905_ecustom--CommonStockOutstandingPercentage_pid_dp_c20240905__20240905__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyFourCPBFConvertibleNoteMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z6spyW5yD97b" title="Common stock outstanding percentage">16</span>% of the outstanding Class A Common Stock.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In conjunction with the side letter, the Company agreed to issue to CP BF, <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20240923__20240923__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember_ziWncIZ3HOdj" title="Shares issued">7,000</span> shares of the Company’s Class A Common Stock. On September 23, 2024 the transaction was finalized and the Company issued the 2024 CP BF Convertible Note with a principal amount of $<span id="xdx_902_eus-gaap--DebtInstrumentFaceAmount_iI_c20240905__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyFourCPBFConvertibleNoteMember__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember_z71mrsFxcr85" title="Principal amount">10,758,775</span>. The outstanding principal balance of the 2024 CP BF Convertible Note together with accrued interest thereon, unpaid fees and expenses and any other Obligations then due, shall be paid on February 19, 2027 (“2024 Loan Maturity Date”). The 2024 CP BF Convertible Note accrues interest at a rate of <span id="xdx_906_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_pid_dp_c20240905__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyFourCPBFConvertibleNoteMember__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember_zWzc9alfD3sg" title="Interest rate">15.5</span>% which interest shall be paid in kind monthly and is convertible at the holder’s option at any time on or following the effectiveness of the first resale registration statement covering the applicable conversion shares at a fixed conversion price per share of $<span id="xdx_905_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_pid_c20240905__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyFourCPBFConvertibleNoteMember__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember_zJPB2Uf0guni" title="Conversion price">38.90</span>. Upon the occurrence, and during the continuance, of an Event of Default (as defined in the agreement), interest on the 2024 CP BF Convertible Note will bear PIK interest at a per annum rate of <span id="xdx_907_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20240905__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyFourCPBFConvertibleNoteMember__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember_zb84sKmGNCKd" title="Interest rate per annum">20</span>% (“2024 Default Rate”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company may voluntarily prepay the principal of the 2024 CP BF Convertible Note, in accordance with their terms, in whole or in part at any time. On the date of any such prepayment, the Company will owe to Lender: <span id="xdx_90B_eus-gaap--ShortTermDebtDescription_c20240905__20240905__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyFourCPBFConvertibleNoteMember__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember_zdfxHdBKfoPe" title="Prepayment description">(i) all accrued interest with respect to the principal amount so prepaid through the date the prepayment is made and (ii) the Exit Fee with respect to the principal amount so prepaid, calculated as 1.0% of the outstanding principal balance of the loans, with only the portion of the principal balance so converted counted for purposes of determining the applicable Exit Fee; and provided further, that, in the event of a partial prepayment of the loans, the Exit Fee shall be calculated on the principal amount so repaid and not on the entire outstanding principal balance thereof, and (iii) all other Obligations, if any, that shall have become due and payable hereunder with respect to the principal amount so prepaid. The 2024 CP BF Convertible Note obtain features that relate to the mandatory prepayment, either partially or in whole, upon certain contingent events.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The embedded redemption put feature upon a Prepayment and Default Interest triggering events that are unrelated to the creditworthiness of the Company are not clearly and closely related to the debt host instrument, were separated and bundled together, as a derivative and assigned probabilities of being affected and initially measured at fair value in the amount of $<span id="xdx_904_eus-gaap--DerivativeFairValueOfDerivativeNet_iI_c20240923__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember_zZX2UkahK007" title="Derivatives measured at fair value">12,000</span>. Subsequent changes in fair value of the feature will be recognized as a gain or loss in the Consolidated Statement of Operations. The fair value of the bifurcated derivative asset was estimated utilizing the with and without method which uses the probability weighted difference between the scenarios with the derivative and the plain vanilla maturity scenario without a derivative (See <i>Note 7</i> - <i>Fair Value Measurements</i>). As of June 30, 2025, the fair value of the bifurcated derivatives was $<span id="xdx_90E_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeAsset_iI_c20250630__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember_zO297URcsNPh" title="Bifurcated embedded derivative asset">1,000</span>. The Company recorded a loss related to the change in fair value of the bifurcated derivatives of $<span id="xdx_908_eus-gaap--EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet_c20250101__20250630__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember_z3OmSwKsqxSk" title="Change in fair value">62,000</span> for the six months ended June 30, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In October 2024, CP BF exercised its optional conversion option in which it received <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20241001__20241031__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zMFcHIFCx4Nh" title="Share issued">5,560</span> Class A Common Stock at the fixed conversion price per share of $<span id="xdx_907_eus-gaap--SharesIssuedPricePerShare_iI_c20241031__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zEWwCIAUmIN9" title="Common stock price per share">38.90</span> in satisfaction of $<span id="xdx_904_eus-gaap--ConversionOfStockAmountIssued1_c20241001__20241031__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zLoMciJwBaF9" title="Conversion of Stock, Amount Issued">216,284</span> of the Company’s obligations under the 2024 CP BF Convertible Note.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 23, 2024, the Company entered into a Securities Purchase Agreement (the “CP BF SPA”), a Registration Rights Agreement (the “CP BF RRA”), a Lock-Up Agreement (the “CP BF Lock Up”) and issued CP BF a Common Stock Purchase Warrant (the “CP BF Warrant”) and a Pre-Funded Warrant (the “CP BF Pre-Funded Warrant,” together with the CP BF SPA, CP BF RRA, CP BF Lock Up and CP BF Warrant, the “CP BF Transaction Documents”). Pursuant to the CP BF SPA, CP BF agreed to convert $<span id="xdx_908_eus-gaap--DebtConversionOriginalDebtAmount1_c20240923__20240923__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember_zEVr76yWIdoh" title="Debt conversion original amount">2,000,000</span> in debt into <span id="xdx_90A_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_c20240923__20240923__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zobUrul2gpki" title="Debt conversion, shares">26,085</span> shares of Class A Common Stock, CP BF Warrants to purchase up to <span id="xdx_907_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_c20240923__20240923__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zQmRHBDaqSDl" title="Debt conversion, shares">56,555</span> shares of Class A Common Stock and CP BF Pre-Funded Warrants to purchase up to <span id="xdx_902_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_c20240923__20240923__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember__us-gaap--StatementEquityComponentsAxis__custom--PreFundedWarrantsMember_zh1AjzlQojT3" title="Debt conversion, shares">30,470</span> shares of Class A Common Stock (all such securities and shares collectively referred to as the “CP BF Registrable Securities”). <span id="xdx_908_ecustom--ExercisePriceDescription_c20240923__20240923__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember_zvEDhpsRf9Xi" title="Exercise price description">The CP BF Warrant can be exercised at an initial exercise price of $<span id="xdx_907_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20240923__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember_zQxbN0v6AIj5" title="Excercise price">38.90</span> per share, subject to adjustment for a term of five years. The CP BF Pre-Funded Warrant will be exercisable at any time after the date of issuance at an exercise price of $0.0001. Neither warrant may be exercised if the holder, together with its affiliates, would beneficially own more than 19.99% of the number of shares of Common Stock outstanding immediately after giving effect to such exercise. Both warrants may be exercised via cash or cashless exercise.</span> Pursuant to the CP BF RRA, the Company agreed to file a registration statement to register the CP BF Registrable Securities and for the registration statement to become effective on or before December 9, 2024. Under the CP BF Lock-Up, the Company’s CEO, Joe Davy, agreed not to sell an aggregate of <span id="xdx_908_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20240923__20240923__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zf0tX3TtcuQ9" title="Shares issued">231,114</span> shares of Class B Common Stock that he owns until such time as CP BF no longer owns any of the CP BF Registrable Securities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 24, 2024, the Company entered into a securities purchase agreement with an institutional investor for the issuance and sale in a private placement with gross proceeds to the Company of approximately $<span id="xdx_903_eus-gaap--ProceedsFromIssuanceOfPrivatePlacement_pn5n6_c20240924__20240924__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember_zU9Xxtqtikp8" title="Proceeds from issuance of private placement">4.6</span> million. One of the contingent redemption features in the 2024 CP BF Convertible Note relates to the Company prepaying, either partially or in whole, the obligations in an aggregate amount upon the sale of the Company’s capital stock equal to <span id="xdx_90A_ecustom--PercentageOfCapitalStockIssued_iI_pid_dp_uPure_c20240924__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember__us-gaap--LongtermDebtTypeAxis__custom--TwentyTwentyFourCPBFConvertibleNoteMember_zNwgAqyMleD2" title="Percentage of capital stock issued">20</span>% of the cash proceeds in excess of $<span id="xdx_90E_eus-gaap--ProceedsFromIssuanceOfDebt_c20240924__20240924__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember__us-gaap--LongtermDebtTypeAxis__custom--TwentyTwentyFourCPBFConvertibleNoteMember_zdUJzthJiP4" title="Proceeds from issuance of debt">3,000,000</span>. For the six months ended June 30, 2025, the Company paid a total of $<span id="xdx_90C_eus-gaap--DebtInstrumentFaceAmount_iI_c20250630__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember__us-gaap--LongtermDebtTypeAxis__custom--TwentyTwentyFourCPBFConvertibleNoteMember_zgxT0C6EQ3h1" title="Aggregate principal amount">870,190</span> of which satisfied outstanding principal under the 2024 CP BF Convertible Note.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The effective interest rate for the 2024 CP BF Convertible Note was approximately <span id="xdx_90D_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_pid_dp_uPure_c20240630__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember__us-gaap--LongtermDebtTypeAxis__custom--TwentyTwentyFourCPBFConvertibleNoteMember_zcFboMyG3Qhc" title="Effective interest rate percentage">15.4</span>% for the three and six months ended June 30, 2025. For the three and six months ended June 30, 2025, interest expense on the 2024 CP BF Convertible Note totaled $<span id="xdx_901_eus-gaap--InterestExpense_c20250401__20250630__us-gaap--LineOfCreditFacilityAxis__custom--LendingMember__us-gaap--LongtermDebtTypeAxis__custom--TwentyTwentyFourCPBFConvertibleNoteMember_zEGFzjm2Irwh" title="Interest expense">318,718</span> and $<span id="xdx_90F_eus-gaap--InterestExpense_c20250101__20250630__us-gaap--LineOfCreditFacilityAxis__custom--LendingMember__us-gaap--LongtermDebtTypeAxis__custom--TwentyTwentyFourCPBFConvertibleNoteMember_zzGw0a3LVuFc" title="Interest expense">654,108</span>, respectively, consisting of $<span id="xdx_90B_eus-gaap--InterestExpenseDebt_c20250401__20250630__us-gaap--LineOfCreditFacilityAxis__custom--LendingMember__us-gaap--LongtermDebtTypeAxis__custom--TwentyTwentyFourCPBFConvertibleNoteMember_zmSnu1x1IoLk" title="Interest expense debt">319,574</span> and $<span id="xdx_903_eus-gaap--InterestExpenseDebt_c20250101__20250630__us-gaap--LineOfCreditFacilityAxis__custom--LendingMember__us-gaap--LongtermDebtTypeAxis__custom--TwentyTwentyFourCPBFConvertibleNoteMember_zatcDNZcCWI9" title="Interest expense debt">655,849</span>, respectively, of contractual interest offset by $<span id="xdx_903_eus-gaap--DebtRelatedCommitmentFeesAndDebtIssuanceCosts_c20250401__20250630__us-gaap--LineOfCreditFacilityAxis__custom--LendingMember__us-gaap--LongtermDebtTypeAxis__custom--TwentyTwentyFourCPBFConvertibleNoteMember_zMWSlFBmfvF9" title="Debt related commitement fees and debt issuance costs">855</span> and $<span id="xdx_90C_eus-gaap--DebtRelatedCommitmentFeesAndDebtIssuanceCosts_c20250101__20250630__us-gaap--LineOfCreditFacilityAxis__custom--LendingMember__us-gaap--LongtermDebtTypeAxis__custom--TwentyTwentyFourCPBFConvertibleNoteMember_z1OGhF0Ge2I8" title="Debt related commitement fees and debt issuance costs">1,740</span>, respectively, of amortization of the debt premium.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89C_eus-gaap--ConvertibleDebtTableTextBlock_zeORb4Lj6Gv8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents the 2024 CP BF Convertible Note as of June 30, 2025:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span id="xdx_8B9_zBv06BaXMcv" style="display: none">Schedule of 2024 CP BF Convertible Note</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_494_20250630__us-gaap--DebtInstrumentAxis__custom--TwentyTwentyFourCPBFConvertibleNoteMember_zISUCQHWg5ah" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--ConvertibleDebtFairValueDisclosures_iI_z8RlWGnL9W61" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Face value of the CP BF convertible notes</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">8,758,775</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_408_ecustom--UnamortizedDebtPremiumOnConvertibleNotesPayable_iI_zTEAVGmzwNh5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Debt premium, net</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">9,325</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_404_eus-gaap--ConvertibleNotesPayable_iI_zsejS1ZSKXg8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Carrying value of the CP BF convertible notes</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">8,768,100</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40A_ecustom--InterestPayableOnConvertibleDebt_iI_zCeja6hrFmGd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Accrued interest</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,027,631</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_402_ecustom--PrepaymentsMadeOnConvertibleNotes_iI_zTIZz5MiOXpb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Prepayments made</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(1,153,505</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_409_ecustom--ConversionsOnConvertibleNotes_iI_zfYu7TSsGr5i" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Conversions</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(216,284</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_400_ecustom--ConvertibleDebtIncludingAccruedInterest_iI_zVCpEe4pZeG9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Total CP BF convertible notes and accrued interest</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">8,425,943</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents the 2024 CP BF Convertible Note as of December 31, 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_493_20241231__us-gaap--DebtInstrumentAxis__custom--TwentyTwentyFourCPBFConvertibleNoteMember_zSKC1KEOlUw1" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--ConvertibleDebtFairValueDisclosures_iI_z0U6hIIKkPne" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Face value of the CP BF convertible notes</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">8,758,775</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_403_ecustom--UnamortizedDebtPremiumOnConvertibleNotesPayable_iI_zn47T5MK4a8i" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Debt premium, net</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">11,066</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_404_eus-gaap--ConvertibleNotesPayable_iI_z10Sveu18MI9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Carrying value of the CP BF convertible notes</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">8,769,841</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40A_ecustom--InterestPayableOnConvertibleDebt_iI_zz4D746A9K79" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Accrued interest</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">369,459</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_402_ecustom--PrepaymentsMadeOnConvertibleNotes_iI_zmHs6gMeMSs7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Prepayments made</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(283,315</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_409_ecustom--ConversionsOnConvertibleNotes_iI_zqOqkMoWoUik" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Conversions</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(216,284</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_400_ecustom--ConvertibleDebtIncludingAccruedInterest_iI_zqKJrJReXL3l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Total CP BF convertible notes and accrued interest</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">8,639,701</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p id="xdx_8A7_zOU9m20SWoxb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Notes payable, carried at fair value</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Term Notes (Agile)</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 22, 2024, the Company entered into a subordinated business loan and security agreement (the “July Subordinated Business Loan and Security Agreement”) with Agile Lending, LLC and Agile Capital Funding, LLC as the collateral agent. On July 22, 2024, the Company issued a subordinated secured promissory note (the “July Agile Note”) for an aggregate principal amount of $<span id="xdx_905_eus-gaap--DebtInstrumentFaceAmount_iI_c20240722__us-gaap--TypeOfArrangementAxis__custom--SubordinatedBusinessLoanAndSecurityAgreementMember_zc6008bRPVC5" title="Debt instrument face amount">787,500</span> and received $<span id="xdx_901_eus-gaap--ProceedsFromShortTermDebt_c20240722__20240722__us-gaap--TypeOfArrangementAxis__custom--SubordinatedBusinessLoanAndSecurityAgreementMember_zfppaj4Qlwul" title="Proceeds from debt">750,000</span> of proceeds, net of administrative agent fees $<span id="xdx_90E_ecustom--AgentFees_c20240722__20240722__us-gaap--TypeOfArrangementAxis__custom--SubordinatedBusinessLoanAndSecurityAgreementMember_zCxwL8L734Kb" title="Agent fees">37,500</span> to the collateral agent, with a maturity date of <span id="xdx_90D_eus-gaap--DebtInstrumentMaturityDate_dd_c20240722__20240722__us-gaap--TypeOfArrangementAxis__custom--SubordinatedBusinessLoanAndSecurityAgreementMember_zOyLqkq7TRck" title="Debt instrument, maturity date">February 5, 2025</span> under the subordinated business loan and security agreement. The loan under the agreement bears interest at a rate of <span id="xdx_909_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_dp_c20240722__us-gaap--TypeOfArrangementAxis__custom--SubordinatedBusinessLoanAndSecurityAgreementMember_zHqDEhUaQ6g1" title="Debt instrument, interest rate">42</span>% and will be calculated on a three hundred and sixty (360) day year based on the actual number of days lapsed, and interest shall accrue on the loan commencing on and including the effective date pursuant to the Agreement’s weekly repayment and amortization schedule.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 13, 2024, the Company entered into a subordinated business loan and security agreement (the “September Subordinated Business Loan and Security Agreement”) with Agile Lending, LLC and Agile Capital Funding, LLC as the collateral agent. On September 13, 2024, the Company issued a subordinated secured promissory note (the “September Agile Note”) for an aggregate principal amount of $<span id="xdx_906_eus-gaap--DebtInstrumentFaceAmount_iI_c20240913__us-gaap--LongtermDebtTypeAxis__custom--SubordinatedSecuredPromissoryNoteMember_zpnNzwbKkcy9" title="Principal amount">262,500</span> and received $<span id="xdx_903_eus-gaap--ProceedsFromIssuanceOfSecuredDebt_c20240913__20240913__us-gaap--LongtermDebtTypeAxis__custom--SubordinatedSecuredPromissoryNoteMember_zTzlodBzcPcj" title="Debt proceeds">250,000</span> of proceeds, net of administrative agent fees $<span id="xdx_901_eus-gaap--DebtInstrumentFeeAmount_iI_c20240913__us-gaap--LongtermDebtTypeAxis__custom--SubordinatedSecuredPromissoryNoteMember_zYtgnTISyMG" title="Administrative agent fees">12,500</span> to the collateral agent, with a maturity date of <span id="xdx_901_eus-gaap--DebtInstrumentMaturityDate_dd_c20240913__20240913__us-gaap--LongtermDebtTypeAxis__custom--SubordinatedSecuredPromissoryNoteMember_zyoLvTtC5Uxe" title="Maturity date">March 3, 2025</span> under the September Note. The September Note bears interest at a rate of <span id="xdx_906_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20240913__us-gaap--LongtermDebtTypeAxis__custom--SubordinatedSecuredPromissoryNoteMember_zHFOGMQSZVxg" title="Interest rate">48</span>%, and interest will be calculated on a three hundred and sixty (360) day year based on the actual number of days lapsed, and interest shall accrue on the September Note commencing on and including the effective date pursuant to the September Note Agreement’s weekly repayment and amortization schedule.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 12, 2024, the Company issued a subordinated secured promissory note (the “December Agile Note”) for an aggregate principal amount of $<span id="xdx_90C_eus-gaap--DebtInstrumentFaceAmount_iI_c20241212__us-gaap--LongtermDebtTypeAxis__custom--SubordinatedSecuredPromissoryNoteMember_zTHNZN3W5hCd" title="Aggregate principal amount">2,400,000</span> and received $<span id="xdx_907_eus-gaap--ProceedsFromIssuanceOfSecuredDebt_c20241212__20241212__us-gaap--LongtermDebtTypeAxis__custom--SubordinatedSecuredPromissoryNoteMember_zeSHHrWwFOhl" title="Proceeds from issuance of secured debt">1,782,438</span> of proceeds, net of administrative agent fees of $<span id="xdx_90C_eus-gaap--DebtInstrumentFeeAmount_iI_c20241212__us-gaap--LongtermDebtTypeAxis__custom--SubordinatedSecuredPromissoryNoteMember_zCyWULyjXxfj" title="Commitment fee expense">120,000</span> paid to the collateral agent, and net of payments to Agile Lending, LLC of $<span id="xdx_90C_eus-gaap--EarlyRepaymentOfSubordinatedDebt_c20241212__20241212__us-gaap--LongtermDebtTypeAxis__custom--JulyAgileNoteMember_zzGFLu3FEvRj" title="Early prepayment of remaining outstanding balances">319,500</span> and $<span id="xdx_906_eus-gaap--EarlyRepaymentOfSubordinatedDebt_c20241212__20241212__us-gaap--LongtermDebtTypeAxis__custom--SeptemberAgileNoteMember_ziCBzDfHirDk" title="Early prepayment of remaining outstanding balances">178,063</span> in respect to early prepayment of the remaining outstanding balances of the July Agile Note and September Agile Note, with a maturity date on the December Agile Note of <span id="xdx_900_eus-gaap--DebtInstrumentMaturityDate_dd_c20241212__20241212__us-gaap--LongtermDebtTypeAxis__custom--SubordinatedSecuredPromissoryNoteMember_zma3YaRWuxQ1" title="Debt instrument, maturity date">July 10, 2025</span>. The December Agile Note bears interest at a rate of <span id="xdx_901_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20241212__us-gaap--LongtermDebtTypeAxis__custom--SubordinatedSecuredPromissoryNoteMember_zEWzb3BE9YCi" title="Debt instrument, interest rate, stated percentage">44</span>%, and interest will be calculated on a three hundred and sixty (360) day year based on the actual number of days lapsed, and interest shall accrue on the December Agile Note commencing on and including the effective date pursuant to the December Agile Note Agreement’s weekly repayment and amortization schedule.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon the modification on December 12, 2024, the Company evaluated the debt modification guidance, determining that the modification is   an extinguishment of the existing July Agile Note and September Agile Note due to the terms of the December Agile Note being substantially different from the terms of the July and September Agile Notes. As a result, the Company recorded a loss on debt extinguishment of $<span id="xdx_905_eus-gaap--GainsLossesOnExtinguishmentOfDebt_c20241212__20241212__us-gaap--LongtermDebtTypeAxis__custom--DecemberAgileNoteMember_z31TjAIDeI24" title="Gain (loss) on extinguishment of liability">1,071,563</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 31, 2025, the Company issued a subordinated secured promissory note (the “March Agile Note”) for an aggregate principal amount of $<span id="xdx_909_eus-gaap--DebtInstrumentFaceAmount_iI_c20250331__us-gaap--DebtInstrumentAxis__custom--MarchAgileNoteMember__us-gaap--LongtermDebtTypeAxis__custom--SubordinatedSecuredPromissoryNoteMember_zC4sVRj87YIb" title="Aggregate principal amount">4,000,000</span> and received $<span id="xdx_908_eus-gaap--ProceedsFromIssuanceOfSecuredDebt_c20250101__20250331__us-gaap--DebtInstrumentAxis__custom--MarchAgileNoteMember__us-gaap--LongtermDebtTypeAxis__custom--SubordinatedSecuredPromissoryNoteMember_zgq6VwAmDTk3" title="Proceeds from issuance of secured debt">2,044,105</span> of proceeds, net of administrative agent fees of $<span id="xdx_90A_eus-gaap--DebtInstrumentFeeAmount_iI_c20250331__us-gaap--DebtInstrumentAxis__custom--JuneAgileNoteMember__us-gaap--LongtermDebtTypeAxis__custom--SubordinatedSecuredPromissoryNoteMember_zsnFNsPkdzPh" title="Outstanding fees">200,000</span> paid to the collateral agent, and net of payments to Agile Lending, LLC of $<span id="xdx_908_eus-gaap--RepaymentsOfDebt_c20250101__20250331__us-gaap--DebtInstrumentAxis__custom--MarchAgileNoteMember__us-gaap--LongtermDebtTypeAxis__custom--SubordinatedSecuredPromissoryNoteMember_zE8Pl60M8bF8" title="Repayment of debt">1,755,895</span> in respect to early prepayment of the remaining outstanding balances of the December Agile Note, with a maturity date on the March Agile Note of <span id="xdx_908_eus-gaap--DebtInstrumentMaturityDate_dd_c20250101__20250331__us-gaap--DebtInstrumentAxis__custom--MarchAgileNoteMember__us-gaap--LongtermDebtTypeAxis__custom--SubordinatedSecuredPromissoryNoteMember_zrKaVX1pSCVc" title="Debt instrument, maturity date">November 12, 2025</span>. The March Agile Note bears interest at a rate of <span id="xdx_904_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20250331__us-gaap--DebtInstrumentAxis__custom--MarchAgileNoteMember__us-gaap--LongtermDebtTypeAxis__custom--SubordinatedSecuredPromissoryNoteMember_zun6yR11wOjj" title="Debt instrument, interest rate">44</span>%, and interest will be calculated on a three hundred and sixty (360) day year based on the actual number of days lapsed, and interest shall accrue on the March Agile Note commencing on and including the effective date pursuant to the March Agile Note Agreement’s weekly repayment and amortization schedule.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon the   modification on March 31, 2025, the Company evaluated the debt modification guidance, determining that the modification is an extinguishment of the existing December Agile Note due to the terms of the March Agile Note being substantially different from the terms of the December Agile Notes. As a result, the Company recorded a loss on debt extinguishment of $<span id="xdx_90D_eus-gaap--GainsLossesOnExtinguishmentOfDebt_c20250101__20250331__us-gaap--DebtInstrumentAxis__custom--JuneAgileNoteMember__us-gaap--LongtermDebtTypeAxis__custom--SubordinatedSecuredPromissoryNoteMember_z28Y99UtO9u" title="Gain (loss) on extinguishment of liability">1,769,895</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 12, 2025, the Company issued a subordinated secured promissory note (the “June Agile Note”) for an aggregate principal amount of $<span id="xdx_900_eus-gaap--DebtInstrumentFaceAmount_iI_c20250612__us-gaap--DebtInstrumentAxis__custom--JuneAgileNoteMember__us-gaap--LongtermDebtTypeAxis__custom--SubordinatedSecuredPromissoryNoteMember_zR8gyqt1YI8e" title="Aggregate principal amount">262,500</span> and received $<span id="xdx_90F_eus-gaap--ProceedsFromIssuanceOfSecuredDebt_c20250612__20250612__us-gaap--DebtInstrumentAxis__custom--JuneAgileNoteMember__us-gaap--LongtermDebtTypeAxis__custom--SubordinatedSecuredPromissoryNoteMember_zOkVsSBo0i65" title="Proceeds from issuance of secured debt">250,000</span> of proceeds, net of administrative agent fees $<span id="xdx_905_eus-gaap--DebtInstrumentFeeAmount_iI_c20250612__us-gaap--DebtInstrumentAxis__custom--JuneAgileNoteMember__us-gaap--LongtermDebtTypeAxis__custom--SubordinatedSecuredPromissoryNoteMember_zXrzcsW9doPe" title="Outstanding fees">12,500</span> to the collateral agent, with a maturity date of <span id="xdx_90D_eus-gaap--DebtInstrumentMaturityDate_dd_c20250612__20250612__us-gaap--DebtInstrumentAxis__custom--JuneAgileNoteMember__us-gaap--LongtermDebtTypeAxis__custom--SubordinatedSecuredPromissoryNoteMember_zO8AdiTNfFCk" title="Debt instrument, maturity date">December 15, 2025</span> under the June Note. The June Note bears interest at a rate of <span id="xdx_906_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20250612__us-gaap--DebtInstrumentAxis__custom--JuneAgileNoteMember__us-gaap--LongtermDebtTypeAxis__custom--SubordinatedSecuredPromissoryNoteMember_zwcaSBHTWHlh" title="Debt instrument, interest rate">48</span>%, and interest will be calculated on a three hundred and sixty (360) day year based on the actual number of days lapsed, and interest shall accrue on the June Note commencing on and including the effective date pursuant to the June Note Agreement’s weekly repayment and amortization schedule.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The July Agile Note, the September Agile Note, the December Agile Note, the March Agile Note, and the June Agile Note are together referred to as the “Agile Notes”.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The collateral under the subordinated business loan and security agreements consist of all of the Company’s goods, accounts, equipment, inventory, contract rights or rights to payment of money, leases, license agreements, franchise agreements, general intangibles (including intellectual property), commercial tort claims, documents, instruments (including any promissory notes), chattel paper (whether tangible or electronic), cash, deposit accounts and other collateral accounts, all certificates of deposit, fixtures, letters of credit rights, securities, and all other investment property, supporting obligations, and financial assets. Upon any Changes in Business or Management, Ownership (as defined in the agreements) or upon an Event of Default (as defined in the agreements), each of the July Agile Note and or the September Agile Note then-outstanding will become accelerated and the Company shall immediately pay to Agile an amount equal to the sum of (i) all outstanding principal of the term loan plus accrued and unpaid interest thereon accrued through the prepayment date, (ii) a Prepayment Fee (as defined in the agreements), plus (iii) all other obligations that are due and payable, including, without limitation, incremental interest at the Default Rate of <span id="xdx_903_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20240930__us-gaap--LongtermDebtTypeAxis__custom--AgileTermNotesMember_zHyXuZNN0do2" title="Interest rate">5.0</span>% (as defined in the agreements). Additionally, the Company may voluntarily prepay the July Agile Note and or the September Agile Note, in accordance with their terms, in whole or in part at any time. On the date of such prepayment of any principal amounts, the Company will owe to Agile a Prepayment Fee comprising a make-whole premium payment on account of such principal amount prepaid, which shall be equal to the aggregate and actual amount of interest (at the contract rate of interest) that would be paid through the maturity date of the respective note, as described above.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Agile Notes include contingent redemption (put) rights which trigger mandatory prepayment and a make-whole premium upon certain events including an event of default, and defaulted contingent interest upon an event of default.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Due to the contingent redemption put feature and default interest embedded feature within the Agile Notes, the Company elected to account for the Agile Notes at fair value at their respective dates of issuance and in subsequent reporting periods, pursuant to ASC 825 <i>Financial Instruments</i> (“ASC 825”). The Company will record changes in the fair value of the notes that relate to changes in credit risk to other comprehensive income. The remaining changes in fair value, including the component related to accrued interest, will be recorded through the other (income) expense section of the Company’s condensed consolidated statements of operations and comprehensive loss statement in a single line item.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interest   expense on the Agile Notes totaled $<span id="xdx_90C_eus-gaap--InterestExpense_c20250101__20250630__us-gaap--LongtermDebtTypeAxis__custom--AgileTermNotesMember_zrqtQPVspNrd" title="Interest expense">681,928</span> for the three and six months ending June 30, 2025 and is included in the fair value of the notes.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_894_eus-gaap--ScheduleOfDebtInstrumentsTextBlock_hus-gaap--LongtermDebtTypeAxis__custom--AgileTermNotesMember_zHU9bk2mLyk6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following presents the Agile Notes as of June 30, 2025:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span id="xdx_8BC_zhh1GRBt0705" style="display: none">Schedule of Notes</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_4B6_us-gaap--LongtermDebtTypeAxis_custom--AgileTermNotesMember_z7bxDDi91803" style="border-bottom: Black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fair Value</b></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_43F_c20250101__20250331_eus-gaap--NotesPayable_iS_zKsddmtNj5qf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%"><span style="font-family: Times New Roman, Times, Serif">Balance at December 31, 2024</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,143,000</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40A_ecustom--IssuanceOfLongTermDebt_zvhRAY8e4opj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Issuance of Agile term notes</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,000,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40C_ecustom--GainsLossesOnRestructuring_z23OmmLuAQvj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Loss on restructuring</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,769,895</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_406_eus-gaap--RepaymentsOfLongTermDebt_iN_di_zu2rXX23ex56" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Repayments in cash</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(3,540,800</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_40D_ecustom--ChangeInFairValueOfLongTermDebt_zBy8hpsHEhxa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Change in fair value</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">165,905</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_436_c20250401__20250630_eus-gaap--NotesPayable_iS_zfgrb84KI7H4" style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Balance at March 31, 2025</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">5,538,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_43E_c20250401__20250630_eus-gaap--NotesPayable_iS_z3V7ugH7OWTe" style="display: none; vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Beginning balance</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">5,538,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40F_ecustom--IssuanceOfLongTermDebt_zmPbI22tJSZc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Issuance of Agile term notes</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">262,500</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_403_ecustom--GainsLossesOnDebtIssuance_zQdU5gupGIBd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Loss on issuance</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">110,500</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_400_eus-gaap--RepaymentsOfLongTermDebt_iN_di_zBYd4bj2FuKg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Repayments in cash</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(1,929,885</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_40A_ecustom--ChangeInFairValueOfLongTermDebt_zw9m6TwYjhca" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Change in fair value</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">149,885</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_430_c20250401__20250630_eus-gaap--NotesPayable_iE_znsX78Ww7nB2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Balance at June 30, 2025</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,131,000</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_432_c20250401__20250630_eus-gaap--NotesPayable_iE_zxYlnLGB2BGg" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Ending balance</td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,131,000</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_433_c20250401__20250630_eus-gaap--LongTermNotesPayable_iE_zz3nZIJ0aePl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif">Outstanding principal balance as of June 30, 2025</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,754,543</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_43D_c20250401__20250630_ecustom--InterestPayableOnLongTermDebt_iE_zDbeVT6sYCr6" style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Accrued interest as of June 30, 2025</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">681,928</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p id="xdx_8AF_zAYdHrZdJmKb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Convertible Notes (1800 Diagonal)</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On August 16, 2024, the Company entered into a securities purchase agreement and promissory note agreement (the “August Securities Purchase Agreement”) with 1800 Diagonal Lending LLC (“Lender”). On August 16, 2024 the Company issued a promissory note (the “August 1800 Diagonal Note”) for an aggregate principal amount of $<span id="xdx_902_eus-gaap--DebtInstrumentFaceAmount_iI_c20240816__us-gaap--LongtermDebtTypeAxis__custom--August1800DiagonalNoteMember_zNjzDMrjRgca" title="Principal amount">184,000</span> and received $<span id="xdx_90F_eus-gaap--ProceedsFromIssuanceOfSecuredDebt_c20240816__20240816__us-gaap--LongtermDebtTypeAxis__custom--August1800DiagonalNoteMember_zQIwQQih8WI2" title="Proceeds from debt">152,000</span> of proceeds, net of an original issue discount of $<span id="xdx_90A_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_c20240816__us-gaap--LongtermDebtTypeAxis__custom--August1800DiagonalNoteMember_zy5wnYPQ8pQ" title="Original issue discount">24,000</span> and issuance costs of $<span id="xdx_90D_ecustom--DebtInstrumentUnamortizedDebtIssuanceCostsIncurredDuringThePeriod_c20240816__20240816__us-gaap--LongtermDebtTypeAxis__custom--August1800DiagonalNoteMember_zi5bfYpMg2z8" title="Debt instrument unamortized debt issuance costs incurred during the period">8,000</span> for due diligence and legal fees, with a maturity date of <span id="xdx_908_eus-gaap--DebtInstrumentMaturityDate_dd_c20240816__20240816__us-gaap--LongtermDebtTypeAxis__custom--August1800DiagonalNoteMember_zHlx3Qu5xaue" title="Maturity date">June 15, 2025</span>. The August Securities Purchase Agreement stipulates that the Company and Lender may mutually agree to enter into additional tranches of promissory notes over the 12 month period commencing on August 16, 2024, up to an aggregate total of $<span id="xdx_902_eus-gaap--DebtInstrumentFaceAmount_iI_c20240816__us-gaap--AwardTypeAxis__custom--AdditionalTrancheMember__us-gaap--LongtermDebtTypeAxis__custom--August1800DiagonalNoteMember_z2w8QnB0ABw6" title="Principal amount">750,000</span>. The stated interest rate on the August Note is <span id="xdx_904_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20240816__us-gaap--LongtermDebtTypeAxis__custom--August1800DiagonalNoteMember_zwBVE80W8xK3" title="Interest rate">12</span>% per annum, and interest shall accrue on the August Note commencing on and including the issuance date pursuant to the August Agreement’s monthly repayment and amortization schedule.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 24, 2024, the Company issued a second promissory note (the “September 1800 Diagonal Note”) for an aggregate principal amount of $<span id="xdx_909_eus-gaap--DebtInstrumentFaceAmount_iI_c20240924__us-gaap--LongtermDebtTypeAxis__custom--September1800DiagonalNoteMember_z9RcEcL0TA6k" title="Principal amount">124,200</span> and received $<span id="xdx_90D_eus-gaap--ProceedsFromIssuanceOfSecuredDebt_c20240924__20240924__us-gaap--LongtermDebtTypeAxis__custom--September1800DiagonalNoteMember_z4rOntkF3mA4" title="Proceeds from debt">100,000</span> of proceeds, net of an original discount of $<span id="xdx_90F_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_c20240924__us-gaap--LongtermDebtTypeAxis__custom--September1800DiagonalNoteMember_zs0ThSwMAOli" title="Original issue discount">16,200</span> and issuance costs of $<span id="xdx_901_ecustom--DebtInstrumentUnamortizedDebtIssuanceCostsIncurredDuringThePeriod_c20240924__20240924__us-gaap--LongtermDebtTypeAxis__custom--September1800DiagonalNoteMember_zaL5WqCG1Wli" title="Debt instrument unamortized debt issuance costs incurred during the period">8,000</span> for due diligence and legal fees, with a maturity date of <span id="xdx_90C_eus-gaap--DebtInstrumentMaturityDate_dd_c20240924__20240924__us-gaap--LongtermDebtTypeAxis__custom--September1800DiagonalNoteMember_zCJI2lQUKg7" title="Maturity date">July 30, 2025</span>. The stated interest rate on the September Note is <span id="xdx_900_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20240924__us-gaap--LongtermDebtTypeAxis__custom--September1800DiagonalNoteMember_zXqaduRRdHA7" title="Interest rate">12</span>% per annum, and interest shall accrue on the September Note commencing on and including the issuance date pursuant to the September Note Agreement’s repayment and amortization schedule.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 10, 2024, the Company issued a third promissory note (the “December 1800 Diagonal Note”) for an aggregate principal amount of $<span id="xdx_903_eus-gaap--DebtInstrumentFaceAmount_iI_c20241210__us-gaap--LongtermDebtTypeAxis__custom--December1800DiagonalNoteMember_z2yBdJME1kbi" title="Principal amount">124,200</span> and received $<span id="xdx_902_eus-gaap--ProceedsFromIssuanceOfSecuredDebt_c20241210__20241210__us-gaap--LongtermDebtTypeAxis__custom--September1800DiagonalNoteMember_zKg8rLYBcQY5" title="Proceeds from debt">100,000</span> of proceeds, net of an original discount of $<span id="xdx_902_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_c20241210__us-gaap--LongtermDebtTypeAxis__custom--December1800DiagonalNoteMember_zINcIODZBrte" title="Original issue discount">16,200</span> and issuance costs of $<span id="xdx_904_ecustom--DebtInstrumentUnamortizedDebtIssuanceCostsIncurredDuringThePeriod_c20241210__20241210__us-gaap--LongtermDebtTypeAxis__custom--December1800DiagonalNoteMember_zUaMc0UTxIW" title="Debt instrument unamortized debt issuance costs incurred during the period">8,000</span> for due diligence and legal fees, with a maturity date of <span id="xdx_905_eus-gaap--DebtInstrumentMaturityDate_dd_c20241210__20241210__us-gaap--LongtermDebtTypeAxis__custom--December1800DiagonalNoteMember_zbSbqH9OOeol" title="Maturity date">October 15, 2025</span>. The stated interest rate on the December Note is <span id="xdx_901_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20241210__us-gaap--LongtermDebtTypeAxis__custom--December1800DiagonalNoteMember_zfAji5c2rdc6" title="Interest rate">12</span>% per annum, and interest shall accrue on the December Note commencing on and including the issuance date pursuant to the December Note Agreement’s repayment and amortization schedule.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On February 7, 2025, the Company issued a fourth promissory note (the “February 1800 Diagonal Note”) for an aggregate principal amount of $<span id="xdx_906_eus-gaap--DebtInstrumentFaceAmount_iI_c20250207__us-gaap--LongtermDebtTypeAxis__custom--February1800DiagonalNoteMember_zh1YrXVmx7le" title="Principal amount">124,200</span> and received $<span id="xdx_906_eus-gaap--ProceedsFromIssuanceOfSecuredDebt_c20250207__20250207__us-gaap--LongtermDebtTypeAxis__custom--February1800DiagonalNoteMember_zXHIL2tqBAv5" title="Proceeds from debt">100,000</span> of proceeds, net of an original discount of $<span id="xdx_90B_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_c20250207__us-gaap--LongtermDebtTypeAxis__custom--February1800DiagonalNoteMember_zevYM0pppNH" title="Original issue discount">16,200</span> and issuance costs of $<span id="xdx_90C_ecustom--DebtInstrumentUnamortizedDebtIssuanceCostsIncurredDuringThePeriod_c20250207__20250207__us-gaap--LongtermDebtTypeAxis__custom--February1800DiagonalNoteMember_zfoZYzQ6H9g8" title="Debt instrument unamortized debt issuance costs incurred during the period">8,000</span> for due diligence and legal fees, with a maturity date of <span id="xdx_906_eus-gaap--DebtInstrumentMaturityDate_dd_c20250207__20250207__us-gaap--LongtermDebtTypeAxis__custom--February1800DiagonalNoteMember_zyUHdmyZSyHk" title="Maturity date">December 15, 2025</span>. The stated interest rate on the February Note is <span id="xdx_904_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20250207__us-gaap--LongtermDebtTypeAxis__custom--February1800DiagonalNoteMember_zLiqyxchG8Z" title="Interest rate">12</span>% per annum, and interest shall accrue on the February Note commencing on and including the issuance date pursuant to the February Note Agreement’s repayment and amortization schedule.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 17, 2025, the Company issued a fifth promissory note (the “April 1800 Diagonal Note”) for an aggregate principal amount of $<span id="xdx_90C_eus-gaap--DebtInstrumentFaceAmount_iI_c20250417__us-gaap--LongtermDebtTypeAxis__custom--April1800DiagonalNoteMember_z2TS6SCb1ryd" title="Principal amount">230,000</span> and received $<span id="xdx_905_eus-gaap--ProceedsFromIssuanceOfSecuredDebt_c20250417__20250417__us-gaap--LongtermDebtTypeAxis__custom--April1800DiagonalNoteMember_zkt8xx99PN9l" title="Proceeds from debt">192,000</span> of proceeds, net of an original discount of $<span id="xdx_902_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_c20250417__us-gaap--LongtermDebtTypeAxis__custom--April1800DiagonalNoteMember_zokr62j8jBmc" title="Original issue discount">30,000</span> and issuance costs of $<span id="xdx_904_ecustom--DebtInstrumentUnamortizedDebtIssuanceCostsIncurredDuringThePeriod_c20250417__20250417__us-gaap--LongtermDebtTypeAxis__custom--April1800DiagonalNoteMember_zjPXYgRERsx6" title="Debt instrument unamortized debt issuance costs incurred during the period">8,000</span> for due diligence and legal fees, with a maturity date of <span id="xdx_906_eus-gaap--DebtInstrumentMaturityDate_dd_c20250417__20250417__us-gaap--LongtermDebtTypeAxis__custom--April1800DiagonalNoteMember_z1VX3WIMnCJa" title="Maturity date">February 15, 2026</span>. The stated interest rate on the April Note is <span id="xdx_90A_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20250417__us-gaap--LongtermDebtTypeAxis__custom--April1800DiagonalNoteMember_zfBNO1ixcsu8" title="Interest rate">12</span>% per annum, and interest shall accrue on the April Note commencing on and including the issuance date pursuant to the April Note Agreement’s repayment and amortization schedule.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On May 9, 2025, the Company issued a sixth promissory note (the “May 1800 Diagonal Note”) for an aggregate principal amount of $<span id="xdx_90C_eus-gaap--DebtInstrumentFaceAmount_iI_c20250509__us-gaap--LongtermDebtTypeAxis__custom--May1800DiagonalNoteMember_zJ78bJr7l7Kj" title="Principal amount">163,300</span> and received $<span id="xdx_904_eus-gaap--ProceedsFromIssuanceOfSecuredDebt_c20250509__20250509__us-gaap--LongtermDebtTypeAxis__custom--May1800DiagonalNoteMember_z1Ljc6tFTBck" title="Proceeds from debt">135,000</span> of proceeds, net of an original discount of $<span id="xdx_907_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_c20250509__us-gaap--LongtermDebtTypeAxis__custom--May1800DiagonalNoteMember_zWMKtRfmurwi" title="Original issue discount">21,300</span> and issuance costs of $<span id="xdx_905_ecustom--DebtInstrumentUnamortizedDebtIssuanceCostsIncurredDuringThePeriod_c20250509__20250509__us-gaap--LongtermDebtTypeAxis__custom--May1800DiagonalNoteMember_z841ppEJ4me" title="Debt instrument unamortized debt issuance costs incurred during the period">7,000</span> for due diligence and legal fees, with a maturity date of <span id="xdx_900_eus-gaap--DebtInstrumentMaturityDate_dd_c20250509__20250509__us-gaap--LongtermDebtTypeAxis__custom--May1800DiagonalNoteMember_zRpQRxhz8WCh" title="Maturity date">February 15, 2026</span>. The stated interest rate on the May Note is <span id="xdx_90C_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20250509__us-gaap--LongtermDebtTypeAxis__custom--May1800DiagonalNoteMember_zHRcWkW097ic" title="Interest rate">12</span>% per annum, and interest shall accrue on the May Note commencing on and including the issuance date pursuant to the May Note Agreement’s repayment and amortization schedule.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The August 1800 Diagonal Note, the September 1800 Diagonal Note, the December 1800 Diagonal Note, the February 1800 Diagonal Note, the April 1800 Diagonal Note, and the May 1800 Diagonal Note are together referred to as the “1800 Diagonal Notes”.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon an event of default, as defined in the agreements, all or any portion of the 1800 Diagonal Notes that are then-outstanding, may become convertible at the option of the Lender into fully paid and non-assessable shares of the Company’s Common Stock up to 4.99% of the Company’s outstanding shares of Common Stock. <span id="xdx_90B_eus-gaap--DebtInstrumentConvertibleTermsOfConversionFeature_c20250101__20250630__us-gaap--LongtermDebtTypeAxis__custom--ThousandEightHundredDiagonalNotesMember_zuIA76JyepH7" title="Debt instrument, convertible terms">The Notes become convertible at the lender’s option upon an event of default, at a conversion price equal to the quotient resulting from dividing the Conversion Amount, measured as the sum of (1) the principal amount of the Note or Notes being converted in such conversion, plus (2) at the lender’s option, accrued and unpaid interest, if any, on such principal amount at the interest rates to the respective note or notes being converted through the conversion date, plus (3) at the lender’s option, the default interest, divided by the “Conversion Price” then in effect on the date specified in the notice of conversion (the conversion date). The Conversion Price will be measured as seventy-five percent (75%) multiplied by the market price, which means the lowest trading price for the Company’s Common Stock during the ten (10) trading day period ending on the latest complete trading day prior to the conversion date.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The 1800 Diagonal Notes include optional conversion rights to the holder upon an event of default, contingent redemption (put) rights which trigger mandatory prepayment upon event of default, and defaulted contingent interest upon an event of default.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Due to these embedded features within the 1800 Diagonal Notes, the Company elected to account for the 1800 Diagonal Notes at fair value at their respective dates of issuance and in subsequent reporting periods, pursuant to ASC 825 <i>Financial Instruments</i> (“ASC 825”). The Company will record changes in the fair value of the notes that relate to changes in credit risk to other comprehensive income. The remaining changes in fair value, including the component related to accrued interest, will be recorded through the other (income) expense section of the Company’s condensed consolidated statements of operations and comprehensive loss statement in a single line item.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interest expense on the 1800 Diagonal Notes totaled approximately $<span id="xdx_902_eus-gaap--InterestExpense_c20250401__20250630__us-gaap--LongtermDebtTypeAxis__custom--ThousandEightHundredDiagonalNotesMember_zTc83rtXEkz7" title="Interest expense">60,241</span> and $97,176 for the three and six months ending June 30, 2025 and is included in the fair value of the notes.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_892_eus-gaap--ScheduleOfDebtInstrumentsTextBlock_hus-gaap--LongtermDebtTypeAxis__custom--DiagonalConvertibleNotesMember_zvBU1H2r8r06" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents the 1800 Diagonal Notes as of June 30, 2025:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B8_zjzubUIncbyg" style="display: none">Schedule of 1800 Diagonal Notes</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_4B1_us-gaap--LongtermDebtTypeAxis_custom--ThousandEightHundredDiagonalNotesMember_z6dYqU6I5xAb" style="border-bottom: Black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fair Value</b></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_438_c20250101__20250331_eus-gaap--NotesPayable_iS_zBBXj5PdqwT4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%"><span style="font-family: Times New Roman, Times, Serif">Balance at December 31, 2024</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">432,000</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_403_ecustom--IssuanceOfLongTermDebt_zrPhF3aDmJBh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Issuance of 1800 Diagonal convertible notes</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">124,200</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_409_ecustom--GainsLossesOnDebtIssuance_zCWLTQhc1zC7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Loss on debt issuance</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">21,800</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_409_eus-gaap--RepaymentsOfLongTermDebt_iN_di_z6E5SOTPv7pf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Repayments in cash</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(145,286</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_406_ecustom--ChangeInFairValueOfLongTermDebt_zftw85h5Bdg1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Change in fair value</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(21,714</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_431_c20250401__20250630_eus-gaap--NotesPayable_iS_zFItklkITBza" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Balance at March 31, 2025</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">411,000</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_409_ecustom--IssuanceOfLongTermDebt_zJ6xZRTnJEM8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Issuance of 1800 Diagonal convertible notes</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">393,300</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_ecustom--GainsLossesOnDebtIssuance_zGWtg2m3r4te" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Loss on debt issuance</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">58,700</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_401_eus-gaap--RepaymentsOfLongTermDebt_iN_di_z9UsgOpxzij9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Repayments in cash</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(316,719</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_401_ecustom--ChangeInFairValueOfLongTermDebt_z9oasPbWFdc9" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Change in fair value</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(16,281</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_43E_c20250401__20250630_eus-gaap--NotesPayable_iE_zgi4zxDgWBs5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Balance at June 30, 2025</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">530,000</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_434_c20250401__20250630_eus-gaap--LongTermNotesPayable_iE_zGZ6ss5aBxve" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif">Outstanding principal balance as of June 30, 2025</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">461,454</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_43C_c20250401__20250630_ecustom--InterestPayableOnLongTermDebt_iE_zPfi8x9A9mNd" style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Accrued interest as of June 30, 2025</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">97,176</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p id="xdx_8AD_z67Y1REfhmZd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Private Placement Offering (3i, LP)</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 27, 2025, the Company entered into a securities purchase agreement (the “Purchase Agreement”) with an institutional investor, 3i, LP (the “Buyer”) for the issuance and sale in a private placement (the “Private Placement Offering”) of senior secured convertible notes of the Company, in the aggregate original principal amount of $<span id="xdx_902_eus-gaap--DebtInstrumentFaceAmount_iI_c20250627__us-gaap--LongtermDebtTypeAxis__custom--PrivatePlacementOffering3ILPMember_zbaRCbyHZ7wk" title="Aggregate principal amount">11,000,000</span> (the “Private Placement Convertible Notes”) which Notes shall be convertible into shares of the Company’s Class A Common Stock, par value $<span id="xdx_900_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20250627__us-gaap--LongtermDebtTypeAxis__custom--PrivatePlacementOffering3ILPMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zFHZSe6IvRfk" title="Common stock par value">0.0001</span> (the shares of Common Stock issuable pursuant to the terms of the Notes, including, without limitation, upon conversion or otherwise, collectively, the “Conversion Shares”), in accordance with the terms of the Notes. The Buyer purchased (i) a Note in the aggregate original principal amount of $<span id="xdx_902_eus-gaap--DebtInstrumentFaceAmount_iI_c20250627__us-gaap--LongtermDebtTypeAxis__custom--PrivatePlacementOffering3ILPMember_zleN936KPA68" title="Aggregate principal amount">11,000,000</span> and (ii) a warrant to initially acquire up to <span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20250627__us-gaap--LongtermDebtTypeAxis__custom--PrivatePlacementOffering3ILPMember__srt--RangeAxis__srt--MaximumMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zUJ3yJohhDaf" title="Common stock issued by exercise of warrants">67,124</span> shares of Common Stock (the “Buyer Warrants”) (as exercised, collectively, the “Warrant Shares”). In connection with the Offering, the Company has also entered into a letter agreement dated April 30, 2025 (the “Letter Agreement”) with Rodman &amp; Renshaw LLC as the exclusive financial advisor (the “Financial Advisor”) pursuant to which the Company has agreed to issue financial advisor warrants to purchase up to an aggregate of <span id="xdx_90B_ecustom--WarrantsPurchased_c20250627__20250627__us-gaap--LongtermDebtTypeAxis__custom--PrivatePlacementOffering3ILPMember__srt--RangeAxis__srt--MaximumMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zoZcYoJLKda1" title="Warrants purchased">21,212</span> shares of Common Stock (the “Financial Advisor Warrants”, together with the Buyer Warrants, the “Private Placement Warrants”). The Private Placement Offering closed on June 30, 2025 (the “Closing Date”). Refer to <i>Note 16 - Equity</i>, for further description of the Warrants issued in the Private Placement Offering.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Notes were issued with an original issue discount of <span id="xdx_904_ecustom--DebtInstrumentInterestRateOriginalIssuePercentage_iI_pid_dp_uPure_c20250627__us-gaap--LongtermDebtTypeAxis__custom--PrivatePlacementOffering3ILPMember_zrV2r1tPRtfj" title="Debt instrument, interest rate">10.0</span>% and accrue interest at a rate of <span id="xdx_90E_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20250627__us-gaap--LongtermDebtTypeAxis__custom--PrivatePlacementOffering3ILPMember_zFImgeFtf1bk" title="Debt instrument, interest rate">10.0</span>% per annum. The Notes mature twelve (<span id="xdx_90A_ecustom--DebtInstrumentMaturityFromDateOfIssuance_dtM_c20250627__20250627__us-gaap--LongtermDebtTypeAxis__custom--PrivatePlacementOffering3ILPMember_z8XOjqX0XUci" title="Debt instrument, maturity term">12</span>) months from the date of issuance, June 30, 2026 (the “Maturity Date”), unless extended pursuant to the terms thereof. The Notes are convertible (in whole or in part) at any time prior to the Maturity Date into the number of shares of Common Stock equal to quotient of the Conversion Amount divided by (y) the Conversion Price (the “Conversion Rate”). At no time may the Buyer hold more than <span id="xdx_90F_ecustom--MinimumPercentageOfOutstandingCommonStockBuyerHold_iI_pid_dp_uPure_c20250627__us-gaap--LongtermDebtTypeAxis__custom--PrivatePlacementOffering3ILPMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_ztZtDXRBtmmc" title="Minimum percentage of outstanding common Stock, buyer hold">4.99</span>% (or up to <span id="xdx_90E_ecustom--MaximumPercentageOfOutstandingCommonStockBuyerHold_iI_pid_dp_uPure_c20250627__us-gaap--LongtermDebtTypeAxis__custom--PrivatePlacementOffering3ILPMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zLIgiIf3Ha8c" title="Maximum percentage of outstanding common Stock, buyer hold">9.99</span>% at the election of the Buyers pursuant to the Notes) of the outstanding Common Stock. The conversion price of the Note is subject to a floor price of $<span id="xdx_902_ecustom--FloorPrice_iI_c20250627__us-gaap--LongtermDebtTypeAxis__custom--PrivatePlacementOffering3ILPMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_ztDGeDhE2Xg6" title="Floor price">0.11</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 30, 2025, the Company drew $<span id="xdx_908_ecustom--DebtInstrumentDrewPrincipal_c20250101__20250630__us-gaap--LongtermDebtTypeAxis__custom--PrivatePlacementOffering3ILPMember_zr5ESnsXg77e" title="Debt instrument, drew, principal">2,200,000</span> of principal under the allowable aggregate of $<span id="xdx_901_eus-gaap--DebtInstrumentFaceAmount_iI_c20250627__us-gaap--LongtermDebtTypeAxis__custom--PrivatePlacementOffering3ILPMember_zhB4y3xK6PTi" title="Aggregate principal amount">11,000,000</span> pursuant to the Purchase Agreement and received proceeds of $<span id="xdx_902_eus-gaap--ProceedsFromIssuanceOfSecuredDebt_c20250101__20250630__us-gaap--LongtermDebtTypeAxis__custom--PrivatePlacementOffering3ILPMember_zqpVWzLUve9j" title="Proceeds from issuance of secured debt">1,725,000</span>, net of original issue discount and issuance fees and costs.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In addition, if an Event of Default (as defined in the Notes) has occurred under the Notes, the Buyer may elect convert (each, an “Alternate Conversion”, and the date of such Alternate Conversion, each, an “Alternate Conversion Date”) all, or any part of, the Conversion Amount (such portion of the Conversion Amount subject to such Alternate Conversion, the “Alternate Conversion Amount”) into shares of Common Stock at a conversion rate equal to the quotient of (x) the product of (A) the Redemption Premium and (B) the Alternate Conversion Amount, divided by (y) the Alternate Conversion Price (the “Alternate Conversion Rate”). Upon the occurrence of an Event of Default, the Company is required to deliver written notice to the Buyer within one (1) business day (an “Event of Default Notice”). At any time after the earlier of (a) the Buyer’s receipt of an Event of Default Notice, and (b) the Buyer becoming aware of an Event of Default, the Buyer may require the Company to redeem all or any portion of the Notes at a <span id="xdx_903_ecustom--PercentageOfPremiumBuyerRequireToRedeemEventOfDefault_iI_pid_dp_uPure_c20250627__us-gaap--LongtermDebtTypeAxis__custom--PrivatePlacementOffering3ILPMember_zFCaPQiURNCh" title="Percentage of premium buyer require to redeem, event of default">15</span>% premium. Beginning the earlier to occur of (x) the Effective Date (as defined in the Registration Rights Agreement) of the initial Registration Statement filed pursuant to the Registration Rights Agreement and (y) August 1, 2025, and thereafter, the first Trading Day of the calendar month immediately following (each an “Installment Date”) until the Maturity Date, the Company shall repay the Buyer approximately $<span id="xdx_901_eus-gaap--RepaymentsOfConvertibleDebt_c20250101__20250630__us-gaap--LongtermDebtTypeAxis__custom--PrivatePlacementOffering3ILPMember_zBtgPq8fJfu3" title="Repayment of convertible debt">183,333</span> towards the principal balance of the Notes and any accrued and unpaid interest in cash or, provided certain conditions are satisfied, shares of Common Stock, at the Company’s option (collectively, the “Installment Amount”). In connection with a “Change of Control”, the Buyer shall have the right to require the Company to redeem part or all of the Notes outstanding in cash, at the highest calculation of the Change of Control Redemption Price, each of which is outlined in their entirety within the Notes.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The initial net proceeds to the Company from the Offering were approximately $<span id="xdx_906_eus-gaap--ProceedsFromIssuanceOfSecuredDebt_pn3n6_c20250101__20250630__us-gaap--LongtermDebtTypeAxis__custom--PrivatePlacementOffering3ILPMember_zIRARVtGa9D7" title="Proceeds from issuance of secured debt">1.725</span> million, after the original issuance discount and deducting financial advisory fees and estimated offering expenses payable by the Company. The Company intends to use the net proceeds received from the Offering for general corporate purposes and working capital.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Private Placement Convertible Notes include optional conversion rights to the holder upon an event of default, contingent redemption (put) rights which trigger mandatory prepayment upon event of default, and defaulted contingent interest upon an event of default.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Due to these embedded features within the Private Placement Convertible Notes, the Company elected to account for the Private Placement Convertible Notes at fair value at their respective dates of issuance and in subsequent reporting periods, pursuant to ASC 825 <i>Financial Instruments</i> (“ASC 825”). The Company will record changes in the fair value of the notes that relate to changes in credit risk to other comprehensive income. The remaining changes in fair value, including the component related to accrued interest, will be recorded through the other (income) expense section of the Company’s condensed consolidated statements of operations and comprehensive loss statement in a single line item.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interest expense on the Private Placement Convertible Notes totaled approximately $<span id="xdx_90B_eus-gaap--InterestExpense_c20250101__20250630__us-gaap--LongtermDebtTypeAxis__custom--PrivatePlacementOffering3ILPMember_zkaVEDdX7Fe4" title="Interest expense">0</span> for the three and six months ending June 30, 2025 and is included in the fair value of the notes.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_896_eus-gaap--ScheduleOfDebtInstrumentsTextBlock_hus-gaap--LongtermDebtTypeAxis__custom--PrivatePlacementOffering3ILPMember_zmGPooLh5Vgf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents the Private Placement Convertible Notes as of June 30, 2025:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span id="xdx_8B8_znxiY2Fh7ftj" style="display: none">Schedule of Private Placement Convertible Note</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_4B4_us-gaap--LongtermDebtTypeAxis_custom--PrivatePlacementOffering3ILPMember_zarjhU1ufXWa" style="border-bottom: Black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fair Value</b></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_438_c20250101__20250331_eus-gaap--NotesPayable_iS_zWUf1vbWLCk8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Balance at December 31, 2024</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl2445">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_430_c20250401__20250630_eus-gaap--NotesPayable_iS_zzzKpc4Rqc1c" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Balance at March 31, 2025</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl2447">-</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40F_ecustom--IssuanceOfLongTermDebt_zyHGbsm05az2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Issuance of Private Placement Convertible Notes</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,200,000</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40D_ecustom--GainsLossesOnDebtIssuance_zn4a9L5JJivi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Loss on debt issuance</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">476,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_437_c20250401__20250630_eus-gaap--NotesPayable_iE_zOQKASOnj0X3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Balance at June 30, 2025</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,676,000</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_436_c20250401__20250630_eus-gaap--LongTermNotesPayable_iE_z4GeodqgPbb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif">Outstanding principal balance as of June 30, 2025</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,200,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_431_c20250401__20250630_ecustom--InterestPayableOnLongTermDebt_iE_zx0dWXjOr9I6" style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Accrued interest as of June 30, 2025</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl2457">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p id="xdx_8A8_ztJQxbRBdAXl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 100000000 0.03 2000000.0 P5Y 0 2000000.0 2000000.0 1200000 1000000.0 100000 1200000 200000 19000 215057 3500000 2000000 1800000 200000 1000000 4500000 1000000 900000 100000 1500000 1250000 250000 2000000 200000 0.0001 750000 75000 750000 1200 75000 110040 35040 115800 700000 20.00 2025-01-17 0 0.18 0.0999 0.10 1000000 0.10 20.00 2.94 2000000 27538 1000000 2891 750000 14986 3500000 3140000 350000 10.00 2025-07-31 1000000 0.04 0 0.18 0.0001 20.00 0.04 P10D 3500000 P0Y6M 22.40 0.087 0.0427 2.240 0.04 3640000 3500000 140000 78900 238000 1695000 P0Y3M29D 11.20 0.113 0.0429 1.710 0.04 34000 578000 0.17 1.25 P0Y2M26D 0.206 0.0548 0.750 0.14 0.015 0.155 1336.40 For all respective periods presented, the Company was not in compliance with the Minimum Gross Profit Margin covenant in section 7.14.1 of the Loan Agreement, the Minimum ARR Growth covenant in section 7.14.2 of the Loan Agreement, and the Fixed Charge Coverage Ratio covenant in section 7.14.3 of the Loan Agreement. As a result of the Company’s noncompliance with the financial covenants, the entire principal amount and all unpaid and accrued interest will be classified as current on the Company’s consolidated balance sheets. 0.16 294613 586940 267359 533707 27254 53233 0.16 121448 237859 112908 221504 8540 16355 6529402 0.16 7000 10758775 0.155 38.90 0.20 (i) all accrued interest with respect to the principal amount so prepaid through the date the prepayment is made and (ii) the Exit Fee with respect to the principal amount so prepaid, calculated as 1.0% of the outstanding principal balance of the loans, with only the portion of the principal balance so converted counted for purposes of determining the applicable Exit Fee; and provided further, that, in the event of a partial prepayment of the loans, the Exit Fee shall be calculated on the principal amount so repaid and not on the entire outstanding principal balance thereof, and (iii) all other Obligations, if any, that shall have become due and payable hereunder with respect to the principal amount so prepaid. The 2024 CP BF Convertible Note obtain features that relate to the mandatory prepayment, either partially or in whole, upon certain contingent events. 12000 1000 62000 5560 38.90 216284 2000000 26085 56555 30470 The CP BF Warrant can be exercised at an initial exercise price of $38.90 per share, subject to adjustment for a term of five years. The CP BF Pre-Funded Warrant will be exercisable at any time after the date of issuance at an exercise price of $0.0001. Neither warrant may be exercised if the holder, together with its affiliates, would beneficially own more than 19.99% of the number of shares of Common Stock outstanding immediately after giving effect to such exercise. Both warrants may be exercised via cash or cashless exercise. 38.90 231114 4600000 0.20 3000000 870190 0.154 318718 654108 319574 655849 855 1740 <p id="xdx_89C_eus-gaap--ConvertibleDebtTableTextBlock_zeORb4Lj6Gv8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents the 2024 CP BF Convertible Note as of June 30, 2025:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span id="xdx_8B9_zBv06BaXMcv" style="display: none">Schedule of 2024 CP BF Convertible Note</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_494_20250630__us-gaap--DebtInstrumentAxis__custom--TwentyTwentyFourCPBFConvertibleNoteMember_zISUCQHWg5ah" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--ConvertibleDebtFairValueDisclosures_iI_z8RlWGnL9W61" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Face value of the CP BF convertible notes</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">8,758,775</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_408_ecustom--UnamortizedDebtPremiumOnConvertibleNotesPayable_iI_zTEAVGmzwNh5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Debt premium, net</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">9,325</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_404_eus-gaap--ConvertibleNotesPayable_iI_zsejS1ZSKXg8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Carrying value of the CP BF convertible notes</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">8,768,100</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40A_ecustom--InterestPayableOnConvertibleDebt_iI_zCeja6hrFmGd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Accrued interest</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,027,631</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_402_ecustom--PrepaymentsMadeOnConvertibleNotes_iI_zTIZz5MiOXpb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Prepayments made</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(1,153,505</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_409_ecustom--ConversionsOnConvertibleNotes_iI_zfYu7TSsGr5i" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Conversions</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(216,284</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_400_ecustom--ConvertibleDebtIncludingAccruedInterest_iI_zVCpEe4pZeG9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Total CP BF convertible notes and accrued interest</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">8,425,943</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents the 2024 CP BF Convertible Note as of December 31, 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_493_20241231__us-gaap--DebtInstrumentAxis__custom--TwentyTwentyFourCPBFConvertibleNoteMember_zSKC1KEOlUw1" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--ConvertibleDebtFairValueDisclosures_iI_z0U6hIIKkPne" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Face value of the CP BF convertible notes</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">8,758,775</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_403_ecustom--UnamortizedDebtPremiumOnConvertibleNotesPayable_iI_zn47T5MK4a8i" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Debt premium, net</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">11,066</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_404_eus-gaap--ConvertibleNotesPayable_iI_z10Sveu18MI9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Carrying value of the CP BF convertible notes</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">8,769,841</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40A_ecustom--InterestPayableOnConvertibleDebt_iI_zz4D746A9K79" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Accrued interest</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">369,459</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_402_ecustom--PrepaymentsMadeOnConvertibleNotes_iI_zmHs6gMeMSs7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Prepayments made</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(283,315</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_409_ecustom--ConversionsOnConvertibleNotes_iI_zqOqkMoWoUik" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Conversions</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(216,284</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_400_ecustom--ConvertibleDebtIncludingAccruedInterest_iI_zqKJrJReXL3l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Total CP BF convertible notes and accrued interest</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">8,639,701</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> 8758775 9325 8768100 1027631 -1153505 -216284 8425943 8758775 11066 8769841 369459 -283315 -216284 8639701 787500 750000 37500 2025-02-05 0.42 262500 250000 12500 2025-03-03 0.48 2400000 1782438 120000 319500 178063 2025-07-10 0.44 1071563 4000000 2044105 200000 1755895 2025-11-12 0.44 1769895 262500 250000 12500 2025-12-15 0.48 0.050 681928 <p id="xdx_894_eus-gaap--ScheduleOfDebtInstrumentsTextBlock_hus-gaap--LongtermDebtTypeAxis__custom--AgileTermNotesMember_zHU9bk2mLyk6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following presents the Agile Notes as of June 30, 2025:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span id="xdx_8BC_zhh1GRBt0705" style="display: none">Schedule of Notes</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_4B6_us-gaap--LongtermDebtTypeAxis_custom--AgileTermNotesMember_z7bxDDi91803" style="border-bottom: Black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fair Value</b></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_43F_c20250101__20250331_eus-gaap--NotesPayable_iS_zKsddmtNj5qf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%"><span style="font-family: Times New Roman, Times, Serif">Balance at December 31, 2024</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,143,000</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40A_ecustom--IssuanceOfLongTermDebt_zvhRAY8e4opj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Issuance of Agile term notes</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,000,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40C_ecustom--GainsLossesOnRestructuring_z23OmmLuAQvj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Loss on restructuring</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,769,895</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_406_eus-gaap--RepaymentsOfLongTermDebt_iN_di_zu2rXX23ex56" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Repayments in cash</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(3,540,800</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_40D_ecustom--ChangeInFairValueOfLongTermDebt_zBy8hpsHEhxa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Change in fair value</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">165,905</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_436_c20250401__20250630_eus-gaap--NotesPayable_iS_zfgrb84KI7H4" style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Balance at March 31, 2025</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">5,538,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_43E_c20250401__20250630_eus-gaap--NotesPayable_iS_z3V7ugH7OWTe" style="display: none; vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Beginning balance</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">5,538,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40F_ecustom--IssuanceOfLongTermDebt_zmPbI22tJSZc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Issuance of Agile term notes</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">262,500</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_403_ecustom--GainsLossesOnDebtIssuance_zQdU5gupGIBd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Loss on issuance</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">110,500</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_400_eus-gaap--RepaymentsOfLongTermDebt_iN_di_zBYd4bj2FuKg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Repayments in cash</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(1,929,885</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_40A_ecustom--ChangeInFairValueOfLongTermDebt_zw9m6TwYjhca" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Change in fair value</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">149,885</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_430_c20250401__20250630_eus-gaap--NotesPayable_iE_znsX78Ww7nB2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Balance at June 30, 2025</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,131,000</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_432_c20250401__20250630_eus-gaap--NotesPayable_iE_zxYlnLGB2BGg" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Ending balance</td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,131,000</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_433_c20250401__20250630_eus-gaap--LongTermNotesPayable_iE_zz3nZIJ0aePl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif">Outstanding principal balance as of June 30, 2025</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,754,543</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_43D_c20250401__20250630_ecustom--InterestPayableOnLongTermDebt_iE_zDbeVT6sYCr6" style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Accrued interest as of June 30, 2025</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">681,928</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> 3143000 4000000 1769895 3540800 165905 5538000 5538000 262500 110500 1929885 149885 4131000 4131000 2754543 681928 184000 152000 24000 8000 2025-06-15 750000 0.12 124200 100000 16200 8000 2025-07-30 0.12 124200 100000 16200 8000 2025-10-15 0.12 124200 100000 16200 8000 2025-12-15 0.12 230000 192000 30000 8000 2026-02-15 0.12 163300 135000 21300 7000 2026-02-15 0.12 The Notes become convertible at the lender’s option upon an event of default, at a conversion price equal to the quotient resulting from dividing the Conversion Amount, measured as the sum of (1) the principal amount of the Note or Notes being converted in such conversion, plus (2) at the lender’s option, accrued and unpaid interest, if any, on such principal amount at the interest rates to the respective note or notes being converted through the conversion date, plus (3) at the lender’s option, the default interest, divided by the “Conversion Price” then in effect on the date specified in the notice of conversion (the conversion date). The Conversion Price will be measured as seventy-five percent (75%) multiplied by the market price, which means the lowest trading price for the Company’s Common Stock during the ten (10) trading day period ending on the latest complete trading day prior to the conversion date. 60241 <p id="xdx_892_eus-gaap--ScheduleOfDebtInstrumentsTextBlock_hus-gaap--LongtermDebtTypeAxis__custom--DiagonalConvertibleNotesMember_zvBU1H2r8r06" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents the 1800 Diagonal Notes as of June 30, 2025:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B8_zjzubUIncbyg" style="display: none">Schedule of 1800 Diagonal Notes</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_4B1_us-gaap--LongtermDebtTypeAxis_custom--ThousandEightHundredDiagonalNotesMember_z6dYqU6I5xAb" style="border-bottom: Black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fair Value</b></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_438_c20250101__20250331_eus-gaap--NotesPayable_iS_zBBXj5PdqwT4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%"><span style="font-family: Times New Roman, Times, Serif">Balance at December 31, 2024</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">432,000</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_403_ecustom--IssuanceOfLongTermDebt_zrPhF3aDmJBh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Issuance of 1800 Diagonal convertible notes</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">124,200</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_409_ecustom--GainsLossesOnDebtIssuance_zCWLTQhc1zC7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Loss on debt issuance</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">21,800</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_409_eus-gaap--RepaymentsOfLongTermDebt_iN_di_z6E5SOTPv7pf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Repayments in cash</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(145,286</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_406_ecustom--ChangeInFairValueOfLongTermDebt_zftw85h5Bdg1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Change in fair value</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(21,714</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_431_c20250401__20250630_eus-gaap--NotesPayable_iS_zFItklkITBza" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Balance at March 31, 2025</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">411,000</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_409_ecustom--IssuanceOfLongTermDebt_zJ6xZRTnJEM8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Issuance of 1800 Diagonal convertible notes</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">393,300</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_ecustom--GainsLossesOnDebtIssuance_zGWtg2m3r4te" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Loss on debt issuance</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">58,700</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_401_eus-gaap--RepaymentsOfLongTermDebt_iN_di_z9UsgOpxzij9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Repayments in cash</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(316,719</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_401_ecustom--ChangeInFairValueOfLongTermDebt_z9oasPbWFdc9" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Change in fair value</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(16,281</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_43E_c20250401__20250630_eus-gaap--NotesPayable_iE_zgi4zxDgWBs5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Balance at June 30, 2025</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">530,000</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_434_c20250401__20250630_eus-gaap--LongTermNotesPayable_iE_zGZ6ss5aBxve" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif">Outstanding principal balance as of June 30, 2025</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">461,454</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_43C_c20250401__20250630_ecustom--InterestPayableOnLongTermDebt_iE_zPfi8x9A9mNd" style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Accrued interest as of June 30, 2025</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">97,176</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> 432000 124200 21800 145286 -21714 411000 393300 58700 316719 -16281 530000 461454 97176 11000000 0.0001 11000000 67124 21212 0.100 0.100 P12M 0.0499 0.0999 0.11 2200000 11000000 1725000 0.15 183333 1725000 0 <p id="xdx_896_eus-gaap--ScheduleOfDebtInstrumentsTextBlock_hus-gaap--LongtermDebtTypeAxis__custom--PrivatePlacementOffering3ILPMember_zmGPooLh5Vgf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents the Private Placement Convertible Notes as of June 30, 2025:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span id="xdx_8B8_znxiY2Fh7ftj" style="display: none">Schedule of Private Placement Convertible Note</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_4B4_us-gaap--LongtermDebtTypeAxis_custom--PrivatePlacementOffering3ILPMember_zarjhU1ufXWa" style="border-bottom: Black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fair Value</b></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_438_c20250101__20250331_eus-gaap--NotesPayable_iS_zWUf1vbWLCk8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Balance at December 31, 2024</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl2445">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_430_c20250401__20250630_eus-gaap--NotesPayable_iS_zzzKpc4Rqc1c" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Balance at March 31, 2025</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl2447">-</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40F_ecustom--IssuanceOfLongTermDebt_zyHGbsm05az2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Issuance of Private Placement Convertible Notes</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,200,000</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40D_ecustom--GainsLossesOnDebtIssuance_zn4a9L5JJivi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Loss on debt issuance</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">476,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_437_c20250401__20250630_eus-gaap--NotesPayable_iE_zOQKASOnj0X3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Balance at June 30, 2025</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,676,000</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_436_c20250401__20250630_eus-gaap--LongTermNotesPayable_iE_z4GeodqgPbb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif">Outstanding principal balance as of June 30, 2025</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,200,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_431_c20250401__20250630_ecustom--InterestPayableOnLongTermDebt_iE_zx0dWXjOr9I6" style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Accrued interest as of June 30, 2025</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl2457">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> 2200000 476000 2676000 2200000 <p id="xdx_80E_eus-gaap--DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_zP8cODqLhF3k" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>14. <span id="xdx_828_zCt1W0a7JmZ6">Warrant Liabilities</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Public Warrants</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company assumed Public Warrants in the Merger, exercisable into 23,000 shares of Common Stock of the Company, and which remained outstanding as of June 30, 2025. <span id="xdx_90A_ecustom--WarrantsExercisePriceDescription_c20250101__20250630_zYBgKwDfzdo7" title="Warrants exercise price description.">The Public Warrants have an exercise price of $5,750 per share, subject to adjustments, and will expire five years from the Merger Closing Date. The exercise price and number of shares of Class A Common Stock issuable upon exercise of the warrants may be adjusted in certain circumstances including in the event of a share dividend, or recapitalization, reorganization, merger or consolidation.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company will not be obligated to deliver any shares of Class A Common Stock pursuant to the exercise of a Public Warrant and will have no obligation to settle such Public Warrant exercise unless a registration statement under the Securities Act with respect to the shares of Class A Common Stock underlying the Public Warrants is then effective and a prospectus relating thereto is current, subject to the Company’s satisfying its obligations described below with respect to registration, or a valid exemption from registration is available. <span id="xdx_904_ecustom--WarrantsExercisable_iI_do_c20250630__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zAD1DoMHUAOf" title="Warrants exercisable">No</span> Public Warrant will be exercisable and the Company will not be obligated to issue a share of Class A Common Stock upon exercise of a Public Warrant unless the shares of Class A Common Stock issuable upon such Public Warrant exercise has been registered, qualified, or deemed to be exempt under the securities laws of the state of of the registered holder of the Public Warrants. In the event that the conditions in the two immediately preceding sentences are not satisfied with respect to a Public Warrant, the holder of such Public Warrant will not be entitled to exercise such Public Warrant and such Public Warrant may have no value and expire worthless. In no event will the Company be required to net cash settle any Public Warrant. The Resale Registration statement went effective on February 14, 2024. As the Resale Registration Statement was declared effective within the contractual <span id="xdx_90A_ecustom--ContractualTerm_dtD_c20250101__20250630__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z4PXF2JZ3ycl" title="Contractual term">60</span>-day term upon closing of the Merger, no “cashless basis” exercises were triggered during the period ended June 30, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Redemption of Public Warrants When the price per Share of Class A Common Stock Equals or Exceeds $<span id="xdx_906_ecustom--ClassOfWarrantOrRightRedemptionOfWarrantsOrRightsStockPriceTrigger_c20250101__20250630__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember_ztyLcLIkwAO7" title="Redemption trigger price">9,000</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">● <span style="font-size: 10pt"><span id="xdx_903_ecustom--WarrantsExercisableDescription_c20250101__20250630_zr9Bn6mZmJUj" title="Warrants exercisable, description">Once the Public Warrants become exercisable, the Company may redeem the outstanding Public Warrants</span>:</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">● </span><span style="font-family: Times New Roman, Times, Serif">in whole and not in part;</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">● at a price of $5.00 per Warrant;</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">● upon a minimum of 30 days’ prior written notice of redemption (the “30-day redemption period”); and</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">if, and only if, the closing price per share of Class A Common Stock equals or exceeds $<span id="xdx_901_ecustom--ClassOfWarrantOrRightRedemptionOfWarrantsOrRightsStockPriceTrigger_c20250101__20250630__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember_z70ywsNEEK4i" title="Redemption trigger price">9,000</span> per share (as adjusted for adjustments to the number of shares issuable upon exercise or the exercise price of a Public Warrant as described under the heading “- Warrants—Public Stockholder Warrants—Anti-dilution Adjustments”) for any 20 trading days within a 30-trading day period ending three trading days before the Company sends the notice of redemption to the warrant holders.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company will not redeem the Public Warrants as described above unless a registration statement under the Securities Act covering the issuance of shares of Class A Common Stock issuable upon exercise of the Public Warrants is then effective and a current prospectus relating to those shares of Class A Common Stock is available throughout the 30-day redemption period. If and when the Public Warrants become redeemable by the Company, the Company may not exercise its redemption right if the Company is unable to register or qualify the underlying securities for sale under all applicable state securities laws.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has established the last of the redemption criterion discussed above to prevent a redemption call unless there is at the time of the call a significant premium to the Public Warrant exercise price. If the foregoing conditions are satisfied and the Company issues a notice of redemption of the Public Warrants, each warrant holder will be entitled to exercise his, her or its Public Warrant prior to the scheduled redemption date. However, the price per share of Class A Common Stock may fall below the $<span id="xdx_904_ecustom--ClassOfWarrantOrRightRedemptionOfWarrantsOrRightsStockPriceTrigger_c20250101__20250630__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember_zV3irkxI28Ed" title="Redemption trigger price">9,000</span> redemption trigger price (as adjusted for adjustments to the number of shares issuable upon exercise or the exercise price of a Public Warrant as described under the heading “-Warrants—Public Stockholder Warrants—Anti-dilution Adjustments”) as well as the $<span id="xdx_902_ecustom--ClassOfWarrantOrRightRedemptionOfWarrantsOrRightsStockPriceTriggers_c20250101__20250630__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember_zSQKvjPfJP95" title="Warrants exercise price">5,750</span> (for whole shares) Public Warrant exercise price after the redemption notice is issued.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">No fractional shares of Class A Common Stock will be issued upon exercise. If, upon exercise, a holder would be entitled to receive a fractional interest in a share, the Company will round down to the nearest whole number of the number of shares of Class A Common Stock to be issued to the holder.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>GEM Financing Arrangement</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In association with the GEM Letter, see <i>Note 13 - Debt</i> for further details, at Closing, the GEM Warrant automatically became an obligation of the Company, and on December 15, 2023, the Company issued the GEM Warrant granting GEM the right to purchase <span id="xdx_905_ecustom--WarrantsPurchased_c20250101__20250630__us-gaap--BusinessAcquisitionAxis__custom--GemAgreementMember__us-gaap--StatementEquityComponentsAxis__custom--GemWarrantMember_zx7NOwcLaLw5" title="Warrants purchased">1,657</span> shares at an exercise price of $<span id="xdx_904_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20231215__us-gaap--BusinessAcquisitionAxis__custom--GemAgreementMember__us-gaap--StatementEquityComponentsAxis__custom--GemWarrantMember_zkpbq7h2kFa4" title="Warrants exercise price">3,245</span> per share. <span id="xdx_90D_ecustom--WarrantsExercisePriceDescription_c20250101__20250630__us-gaap--BusinessAcquisitionAxis__custom--GemAgreementMember__us-gaap--StatementEquityComponentsAxis__custom--GemWarrantMember_zmmHguXCt0t1" title="Warrants exercise price description">GEM may exercise the GEM Warrant at any time and from time to time until December 14, 2026. The terms of the GEM Warrant provide that the exercise price of the GEM Warrant, and the number of shares of Class A Common Stock for which the GEM Warrant may be exercised, are subject to adjustment to account for increases or decreases in the number of outstanding shares of New Banzai Common Stock resulting from stock splits, reverse stock splits, consolidations, combinations and reclassifications. Additionally, the GEM Warrant contains weighted average anti-dilution provisions that provide that if the Company issues shares of Common Stock, or securities convertible into or exercisable or exchange for, shares of Common Stock at a price per share that is less than 90% of the exercise price then in effect or without consideration, then the exercise price of the GEM Warrant upon each such issuance will be adjusted to the price equal to 105% of the consideration per share paid for such Common Stock or other securities. In the event of a Change of Control, if the Surviving Corporation does not have registered class of equity securities and common shares listed on a U.S. national securities exchange, then the Holder is entitled to receive one percent of the total consideration received by the Company’s stockholders and the GEM Warrants will expire upon payment. Upon the closing of the OpenReel Merger, the exercise price of the GEM Warrants were adjusted to the price equal to 105% of the consideration per share paid which resulted in a strike price of $18.30. The effect of the change in strike price feature being triggered resulted in a change of value of approximately $<span id="xdx_90F_ecustom--ChangeInValueOfWarrants_c20231215__20231215__us-gaap--BusinessAcquisitionAxis__custom--GemAgreementMember__us-gaap--StatementEquityComponentsAxis__custom--GemWarrantMember_z9wV3LQnvek5" title="Change in value of warrants">15,000</span> which is recorded in the statement of operations line change in fair value of warrant liability.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Warrants were not considered indexed to the issuer’s stock pursuant to ASC 815, as the holder’s ability to receive in lieu of the Warrant one percent of the total consideration received by the Company’s stockholders in connection with a Change of Control, where the surviving corporation is not publicly traded, adjusts the settlement value based on items outside the Company’s control in violation of the fixed-for-fixed option pricing model. As such, the Company recorded the Warrants as liabilities initially measured at fair value with subsequent changes in fair value recognized in earnings each reporting period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The measurement of fair value was determined utilizing a Monte Carlo simulation considering all relevant assumptions current at the date of issuance (i.e., share price, exercise price, term, volatility, risk-free rate, probability of dilutive term of three years, and expected time to conversion). As of June 30, 2025 and December 31, 2024, the fair value of the Warrants, as determined by the Monte Carlo simulation option pricing model, were $<span id="xdx_903_ecustom--FairValueOfWarrants_iI_c20250630_zVgWpm0rjiGb" title="Fair value of warrants">3,000</span> and $<span id="xdx_90E_ecustom--FairValueOfWarrants_iI_c20241231_zpnXXbEfAOf2" title="Fair value of warrants">15,000</span>, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If the per share market value of one share of Class A Common Stock is greater than the then-current exercise price, then GEM will have the option to exercise the GEM Warrant on a cashless basis and receive a number of shares of Class A Common Stock equal to (x) the number of shares of Class A Common Stock purchasable upon exercise of all of the GEM Warrant or, if only a portion of the GEM Warrant is being exercised, the portion of the GEM Warrant being exercised, less (y) the product of the then-current exercise price and the number of shares of Class A Common Stock purchasable upon exercise of all of the GEM Warrant or, if only a portion of the GEM Warrant is being exercised, the portion of the GEM Warrant being exercised, divided by the per share market value of one share of Class A Common Stock.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The GEM Warrant may not be exercised if such exercise would result in the beneficial ownership of the holder and its affiliates in excess of <span id="xdx_90C_ecustom--ClassOfWarrantsOrRightsThresholdLimitForTheThenIssuedAndOutstandingSharesOfCommonStock_iI_pid_dp_uPure_c20231215__us-gaap--BusinessAcquisitionAxis__custom--GemAgreementMember__us-gaap--StatementEquityComponentsAxis__custom--GemWarrantMember_zAC4w2ZT3r6e" title="Change in value of warrants">9.99</span>% of the then-issued and outstanding shares of Common Stock.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Private Placement Offering Warrants</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 27, 2025, the Company entered into a securities purchase agreement (the “Purchase Agreement”) with an institutional investor, 3i, LP (the “Buyer”) for the issuance and sale in a private placement (the “Private Placement Offering”) of senior secured convertible notes of the Company, in the aggregate original principal amount of $<span id="xdx_907_eus-gaap--DebtInstrumentFaceAmount_iI_c20250627__us-gaap--LineOfCreditFacilityAxis__custom--ThreeILPMember__us-gaap--DebtInstrumentAxis__custom--PrivatePlacementNotesMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember_zvUrsNmFrY66" title="Aggregate principal amount">11,000,000</span> (the “Private Placement Convertible Notes”) which Notes shall be convertible into shares of the Company’s Class A Common Stock, par value $<span id="xdx_909_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20250627__us-gaap--LineOfCreditFacilityAxis__custom--ThreeILPMember__us-gaap--DebtInstrumentAxis__custom--PrivatePlacementNotesMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember_zVpZnAmAQr79" title="Common stock par value">0.0001</span> (the shares of Common Stock issuable pursuant to the terms of the Notes, including, without limitation, upon conversion or otherwise, collectively, the “Conversion Shares”), in accordance with the terms of the Notes. The Buyer purchased (i) a Note in the aggregate original principal amount of $<span id="xdx_90B_eus-gaap--DebtInstrumentFaceAmount_iI_c20250627__us-gaap--LineOfCreditFacilityAxis__custom--ThreeILPMember__us-gaap--DebtInstrumentAxis__custom--PrivatePlacementNotesMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember_zW1F6AwW1HDk" title="Aggregate principal amount">11,000,000</span> and (ii) a warrant to initially acquire up to <span id="xdx_904_ecustom--WarrantsIssued_c20250627__20250627__us-gaap--LineOfCreditFacilityAxis__custom--ThreeILPMember__us-gaap--DebtInstrumentAxis__custom--PrivatePlacementNotesMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__srt--RangeAxis__srt--MaximumMember_zhPejBEUdVXl" title="Aggregate principal amount">67,124</span> shares of Common Stock (the “Buyer Warrants”) (as exercised, collectively, the “Warrant Shares”). In connection with the Offering, the Company has also entered into a letter agreement dated April 30, 2025 (the “Letter Agreement”) with Rodman &amp; Renshaw LLC as the exclusive financial advisor (the “Financial Advisor”) pursuant to which the Company has agreed to issue financial advisor warrants to purchase up to an aggregate of <span id="xdx_905_ecustom--WarrantsIssued_c20250430__20250430__us-gaap--LineOfCreditFacilityAxis__custom--ThreeILPMember__us-gaap--DebtInstrumentAxis__custom--PrivatePlacementNotesMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__srt--RangeAxis__srt--MaximumMember_zX99Y7XRHk8g" title="Aggregate principal amount">21,212</span> shares of Common Stock (the “Financial Advisor Warrants”, together with the Buyer Warrants, the “Private Placement Warrants”). The Private Placement Offering closed on June 30, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Buyer Warrants are to purchase up to <span id="xdx_901_ecustom--WarrantsIssued_c20250627__20250627__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__srt--RangeAxis__srt--MaximumMember_zMPwcsCvadU6" title="Aggregate principal amount">67,124</span> shares of Common Stock, at an exercise price of $<span id="xdx_905_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20250627__us-gaap--LineOfCreditFacilityAxis__custom--ThreeILPMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--ClassOfWarrantOrRightAxis__custom--BuyerWarrantsMember_z7VUkXakIrfl" title="Warrants exercise price">6.60</span> per share. The Buyer Warrants are exercisable immediately upon issuance and have a term of exercise equal to three (<span id="xdx_906_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20250627__us-gaap--LineOfCreditFacilityAxis__custom--ThreeILPMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--ClassOfWarrantOrRightAxis__custom--BuyerWarrantsMember_z6cuEEH2ML5i" title="Warrants term">3</span>) years from the date of issuance.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rodman &amp; Renshaw LLC (“Rodman”) acted as the Company’s exclusive financial advisor in connection with the Offering, pursuant to that certain Letter Agreement, dated as of April 30, 2025, as amended, between the Company and Rodman. Pursuant to the Letter Agreement, the Company paid Rodman (i) a total cash fee equal to <span id="xdx_903_ecustom--PercentageOfTotalCashFeePayment_pid_dp_uPure_c20250430__20250430__us-gaap--LineOfCreditFacilityAxis__custom--RodmanRenshawLLCMember__us-gaap--TypeOfArrangementAxis__custom--LetterAgreementMember__us-gaap--ClassOfWarrantOrRightAxis__custom--FinancialAdvisorWarrantsMember_zPtHNTLDG33g" title="Percentage of total cash fee payment">7</span>% of the aggregate gross proceeds of the Offering (inclusive of the gross proceeds to be received from the exercise of any Buyer Warrants), (ii) a management fee of <span id="xdx_904_ecustom--PercentageOfManagementFeePayment_pid_dp_uPure_c20250430__20250430__us-gaap--LineOfCreditFacilityAxis__custom--RodmanRenshawLLCMember__us-gaap--TypeOfArrangementAxis__custom--LetterAgreementMember__us-gaap--ClassOfWarrantOrRightAxis__custom--FinancialAdvisorWarrantsMember_zWgo0KKZYRec" title="Percentage of total cash fee payment">1.0</span>% of the aggregate gross proceeds of the Offering (inclusive of the gross proceeds to be received from the exercise of any Buyer Warrants), and (iii) a non-accountable expense allowance of $<span id="xdx_906_ecustom--NonAccountableExpenseAllowancePaid_c20250430__20250430__us-gaap--LineOfCreditFacilityAxis__custom--RodmanRenshawLLCMember__us-gaap--TypeOfArrangementAxis__custom--LetterAgreementMember__us-gaap--ClassOfWarrantOrRightAxis__custom--FinancialAdvisorWarrantsMember_zadKoLvEI5lb" title="Non-accountable expense allowance paid">75,000</span>. In addition, the Company issued to Rodman or its designees the Financial Advisor Warrants to purchase up to an aggregate of <span id="xdx_90A_ecustom--WarrantsIssued_c20250430__20250430__us-gaap--LineOfCreditFacilityAxis__custom--RodmanRenshawLLCMember__us-gaap--ClassOfWarrantOrRightAxis__custom--FinancialAdvisorWarrantsMember__srt--RangeAxis__srt--MaximumMember_zRaVhG0Lmw98" title="Percentage of total cash fee payment">21,212</span> shares of Common Stock at an exercise price equal to $<span id="xdx_904_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20250430__us-gaap--LineOfCreditFacilityAxis__custom--RodmanRenshawLLCMember__us-gaap--TypeOfArrangementAxis__custom--LetterAgreementMember__us-gaap--ClassOfWarrantOrRightAxis__custom--FinancialAdvisorWarrantsMember_zDDwCDOZ92lj" title="Warrants exercise price">8.25</span> per share, which represents <span id="xdx_90A_ecustom--PercentageOfOfferingPrice_pid_dp_uPure_c20250430__20250430__us-gaap--LineOfCreditFacilityAxis__custom--RodmanRenshawLLCMember__us-gaap--TypeOfArrangementAxis__custom--LetterAgreementMember__us-gaap--ClassOfWarrantOrRightAxis__custom--FinancialAdvisorWarrantsMember_zoofLiKw4EA3" title="Percentage of offering price">125</span>% of the Offering price. The Financial Advisor Warrants have substantially the same terms as the Buyer Warrants, are exercisable immediately upon issuance and have a term of exercise equal to five (<span id="xdx_907_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20250430__us-gaap--LineOfCreditFacilityAxis__custom--RodmanRenshawLLCMember__us-gaap--TypeOfArrangementAxis__custom--LetterAgreementMember__us-gaap--ClassOfWarrantOrRightAxis__custom--FinancialAdvisorWarrantsMember_z2betnmcs9Ag" title="Warrants term">5</span>) years from the date of issuance.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A holder of the Warrants may not exercise any portion of such holder’s Warrants to the extent that the holder, together with its affiliates, would beneficially own more than <span id="xdx_905_ecustom--ClassOfWarrantsOrRightsThresholdLimitPercentageOfHolder_pid_dp_uPure_c20250430__20250430__us-gaap--ClassOfWarrantOrRightAxis__custom--PrivatePlacementWarrantsMember__srt--RangeAxis__srt--MinimumMember_zdnFSro5b8hd" title="Percentage of offering price">4.99</span>% (or, at the election of the holder, <span id="xdx_90A_ecustom--ClassOfWarrantsOrRightsThresholdLimitPercentageOfElectionOfHolder_iI_pid_dp_uPure_c20250430__us-gaap--ClassOfWarrantOrRightAxis__custom--PrivatePlacementWarrantsMember_zKOLy272Dvs5" title="Class of warrants or rights threshold limit percentage of election of holder">9.99</span>%) of the Company’s outstanding shares of Common Stock immediately after exercise, except that upon at least 61 days’ prior notice from the holder to the Company, the holder may increase the beneficial ownership limitation to up to <span id="xdx_903_ecustom--ClassOfWarrantsOrRightsThresholdLimitForOutstandingSharesOfCommonStock_iI_pid_dp_uPure_c20250630__us-gaap--ClassOfWarrantOrRightAxis__custom--PrivatePlacementWarrantsMember__srt--RangeAxis__srt--MaximumMember_zNyd4ODVsXd6" title="Class of warrants or rights threshold limit percentage of election of holder">9.99</span>% of the number of shares of Common Stock outstanding immediately after giving effect to the exercise. In the event of a Change of Control, holders of the Warrants will have the right to receive the Black Scholes Value of their Warrants calculated pursuant to a formula set forth in the Warrants, payable in cash.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In association with the Private Placement Convertible Notes, see <i>Note 13 - Debt</i> for further details, at Closing, the Private Placement Warrants automatically became an obligation of the Company. Holders of the Private Placement Warrants may exercise the Private Placement Warrants at any time and from time to time until June 30, 2028 and June 30, 2030, respectively. The terms of the Private Placement Warrants provide that the exercise price of the Private Placement Warrants, and the number of shares of Class A Common Stock for which the Private Placement Warrants may be exercised, are subject to adjustment to account for increases or decreases in the number of outstanding shares of Banzai Common Stock resulting from stock splits, reverse stock splits, consolidations, combinations, and reclassifications. Additionally, the Private Placement Warrants contain anti-dilution and change in option price or rate of conversion price (“Variable Price”) provisions that provide that if the Company issues shares of Common Stock, or securities convertible into or exercisable or exchange for, shares of Common Stock after the Private Placement Offering, at a price per share that varies or may vary with the market price of the shares of Common Stock, including by way of one or more reset(s) to a fixed price, then the Holders of Private Placement Warrants have the right, but not the obligation, at their sole discretion, to elect to substitute the Variable Price for the Exercise Price upon exercise of the Private Placement Warrants.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Warrants were not considered indexed to the issuer’s stock pursuant to ASC 815, as the holder’s ability to receive in lieu of the Warrant, cash in an amount equal to the Black Scholes Value (“Black Scholes Value”) in connection with a Change of Control, adjusts the settlement value based on items outside the Company’s control in violation of the fixed-for-fixed option pricing model. As such, the Company recorded the Warrants as liabilities initially measured at fair value with subsequent changes in fair value recognized in earnings each reporting period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The measurement of fair value at issuance on June 30, 2025 was determined utilizing a Monte Carlo simulation considering all relevant assumptions current at the date of issuance (i.e., share price, exercise price, term, volatility, risk-free rate, and term of three to five years). As of June 30, 2025 and December 31, 2024, the fair value of the Private Placement Warrants, as determined by the Monte Carlo simulation option pricing model, were $<span id="xdx_90B_ecustom--FairValueOfWarrants_iI_c20250630__us-gaap--ClassOfWarrantOrRightAxis__custom--PrivatePlacementWarrantsMember_zoZPVTlgtsEb" title="Fair value of warrants">361,000</span> and $<span id="xdx_907_ecustom--FairValueOfWarrants_iI_c20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--PrivatePlacementWarrantsMember_zEfHKsykZpik" title="Fair value of warrants">0</span>, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_896_ecustom--SummaryOfInputsToMonteCarloSimulationForPrivatePlacementWarrantLiabilityTableTextBlock_zwIWDEb0fsUe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table sets forth a summary of the inputs to the Monte Carlo Simulation for the Private Placement Warrant liability which are Level 3 financial liabilities that are measured at fair value on a recurring basis:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span id="xdx_8BB_ztetzYUquLq5" style="display: none">Schedule of Inputs to Monte Carlo Simulation for Private Placement Warrant Liability</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Key Inputs</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30, 2025</b></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%"><span style="font-family: Times New Roman, Times, Serif">Stock price</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_902_eus-gaap--DerivativeLiabilityMeasurementInput_iI_uPure_c20250630__us-gaap--FinancialInstrumentAxis__custom--PrivatePlacementWarrantLiabilityMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember__us-gaap--ValuationTechniqueAxis__custom--MonteCarloSimulationMember_zET8BO4X3pSk" title="Stock price">5.89</span></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Contractual term (years)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">  <span id="xdx_902_eus-gaap--DerivativeLiabilityMeasurementInput_iI_uPure_c20250630__us-gaap--FinancialInstrumentAxis__custom--PrivatePlacementWarrantLiabilityMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--ValuationTechniqueAxis__custom--MonteCarloSimulationMember__srt--RangeAxis__srt--MinimumMember_zna6E3k15KLh" title="Stock price">3.0</span> - <span id="xdx_90F_eus-gaap--DerivativeLiabilityMeasurementInput_iI_uPure_c20250630__us-gaap--FinancialInstrumentAxis__custom--PrivatePlacementWarrantLiabilityMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--ValuationTechniqueAxis__custom--MonteCarloSimulationMember__srt--RangeAxis__srt--MaximumMember_zu77nDSLOUJ5" title="Stock price">5.0</span>  </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Risk-free rate</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90F_eus-gaap--DerivativeLiabilityMeasurementInput_iI_uPure_c20250630__us-gaap--FinancialInstrumentAxis__custom--PrivatePlacementWarrantLiabilityMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__us-gaap--ValuationTechniqueAxis__custom--MonteCarloSimulationMember__srt--RangeAxis__srt--MinimumMember_zznqCTly5iB2" title="Stock price">3.7</span> - <span id="xdx_902_eus-gaap--DerivativeLiabilityMeasurementInput_iI_uPure_c20250630__us-gaap--FinancialInstrumentAxis__custom--PrivatePlacementWarrantLiabilityMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__us-gaap--ValuationTechniqueAxis__custom--MonteCarloSimulationMember__srt--RangeAxis__srt--MaximumMember_zWo5Q77YVElg" title="Stock price">3.8</span> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Volatility(1)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_906_eus-gaap--DerivativeLiabilityMeasurementInput_iI_uPure_c20250630__us-gaap--FinancialInstrumentAxis__custom--PrivatePlacementWarrantLiabilityMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__us-gaap--ValuationTechniqueAxis__custom--MonteCarloSimulationMember__srt--RangeAxis__srt--MinimumMember_zaYIZtSceBek" title="Stock price">94.0</span>% - <span id="xdx_909_eus-gaap--DerivativeLiabilityMeasurementInput_iI_uPure_c20250630__us-gaap--FinancialInstrumentAxis__custom--PrivatePlacementWarrantLiabilityMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__us-gaap--ValuationTechniqueAxis__custom--MonteCarloSimulationMember__srt--RangeAxis__srt--MaximumMember_zXnDwyGBL9ic" title="Stock price">119.0</span>% </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif">Exercise Price</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_900_eus-gaap--DerivativeLiabilityMeasurementInput_iI_uPure_c20250630__us-gaap--FinancialInstrumentAxis__custom--PrivatePlacementWarrantLiabilityMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExercisePriceMember__us-gaap--ValuationTechniqueAxis__custom--MonteCarloSimulationMember__srt--RangeAxis__srt--MinimumMember_z7pTc2aMXNZ9" title="Stock price">6.60</span>-$<span id="xdx_90A_eus-gaap--DerivativeLiabilityMeasurementInput_iI_uPure_c20250630__us-gaap--FinancialInstrumentAxis__custom--PrivatePlacementWarrantLiabilityMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExercisePriceMember__us-gaap--ValuationTechniqueAxis__custom--MonteCarloSimulationMember__srt--RangeAxis__srt--MaximumMember_zWgJJASS6LVj" title="Stock price">8.25</span>  </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Dividend yield</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_902_eus-gaap--DerivativeLiabilityMeasurementInput_iI_uPure_c20250630__us-gaap--FinancialInstrumentAxis__custom--PrivatePlacementWarrantLiabilityMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember__us-gaap--ValuationTechniqueAxis__custom--MonteCarloSimulationMember_zYRCF2iPupbi" title="Stock price">0.00</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> </table> <p id="xdx_8A9_zdsNtG2aCFsi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> The Public Warrants have an exercise price of $5,750 per share, subject to adjustments, and will expire five years from the Merger Closing Date. The exercise price and number of shares of Class A Common Stock issuable upon exercise of the warrants may be adjusted in certain circumstances including in the event of a share dividend, or recapitalization, reorganization, merger or consolidation. 0 P60D 9000 Once the Public Warrants become exercisable, the Company may redeem the outstanding Public Warrants 9000 9000 5750 1657 3245 GEM may exercise the GEM Warrant at any time and from time to time until December 14, 2026. The terms of the GEM Warrant provide that the exercise price of the GEM Warrant, and the number of shares of Class A Common Stock for which the GEM Warrant may be exercised, are subject to adjustment to account for increases or decreases in the number of outstanding shares of New Banzai Common Stock resulting from stock splits, reverse stock splits, consolidations, combinations and reclassifications. Additionally, the GEM Warrant contains weighted average anti-dilution provisions that provide that if the Company issues shares of Common Stock, or securities convertible into or exercisable or exchange for, shares of Common Stock at a price per share that is less than 90% of the exercise price then in effect or without consideration, then the exercise price of the GEM Warrant upon each such issuance will be adjusted to the price equal to 105% of the consideration per share paid for such Common Stock or other securities. In the event of a Change of Control, if the Surviving Corporation does not have registered class of equity securities and common shares listed on a U.S. national securities exchange, then the Holder is entitled to receive one percent of the total consideration received by the Company’s stockholders and the GEM Warrants will expire upon payment. Upon the closing of the OpenReel Merger, the exercise price of the GEM Warrants were adjusted to the price equal to 105% of the consideration per share paid which resulted in a strike price of $18.30. The effect of the change in strike price feature being triggered resulted in a change of value of approximately $15,000 which is recorded in the statement of operations line change in fair value of warrant liability. 15000 3000 15000 0.0999 11000000 0.0001 11000000 67124 21212 67124 6.60 P3Y 0.07 0.010 75000 21212 8.25 1.25 P5Y 0.0499 0.0999 0.0999 361000 0 <p id="xdx_896_ecustom--SummaryOfInputsToMonteCarloSimulationForPrivatePlacementWarrantLiabilityTableTextBlock_zwIWDEb0fsUe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table sets forth a summary of the inputs to the Monte Carlo Simulation for the Private Placement Warrant liability which are Level 3 financial liabilities that are measured at fair value on a recurring basis:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span id="xdx_8BB_ztetzYUquLq5" style="display: none">Schedule of Inputs to Monte Carlo Simulation for Private Placement Warrant Liability</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Key Inputs</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30, 2025</b></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%"><span style="font-family: Times New Roman, Times, Serif">Stock price</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_902_eus-gaap--DerivativeLiabilityMeasurementInput_iI_uPure_c20250630__us-gaap--FinancialInstrumentAxis__custom--PrivatePlacementWarrantLiabilityMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember__us-gaap--ValuationTechniqueAxis__custom--MonteCarloSimulationMember_zET8BO4X3pSk" title="Stock price">5.89</span></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Contractual term (years)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">  <span id="xdx_902_eus-gaap--DerivativeLiabilityMeasurementInput_iI_uPure_c20250630__us-gaap--FinancialInstrumentAxis__custom--PrivatePlacementWarrantLiabilityMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--ValuationTechniqueAxis__custom--MonteCarloSimulationMember__srt--RangeAxis__srt--MinimumMember_zna6E3k15KLh" title="Stock price">3.0</span> - <span id="xdx_90F_eus-gaap--DerivativeLiabilityMeasurementInput_iI_uPure_c20250630__us-gaap--FinancialInstrumentAxis__custom--PrivatePlacementWarrantLiabilityMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--ValuationTechniqueAxis__custom--MonteCarloSimulationMember__srt--RangeAxis__srt--MaximumMember_zu77nDSLOUJ5" title="Stock price">5.0</span>  </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Risk-free rate</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90F_eus-gaap--DerivativeLiabilityMeasurementInput_iI_uPure_c20250630__us-gaap--FinancialInstrumentAxis__custom--PrivatePlacementWarrantLiabilityMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__us-gaap--ValuationTechniqueAxis__custom--MonteCarloSimulationMember__srt--RangeAxis__srt--MinimumMember_zznqCTly5iB2" title="Stock price">3.7</span> - <span id="xdx_902_eus-gaap--DerivativeLiabilityMeasurementInput_iI_uPure_c20250630__us-gaap--FinancialInstrumentAxis__custom--PrivatePlacementWarrantLiabilityMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__us-gaap--ValuationTechniqueAxis__custom--MonteCarloSimulationMember__srt--RangeAxis__srt--MaximumMember_zWo5Q77YVElg" title="Stock price">3.8</span> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Volatility(1)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_906_eus-gaap--DerivativeLiabilityMeasurementInput_iI_uPure_c20250630__us-gaap--FinancialInstrumentAxis__custom--PrivatePlacementWarrantLiabilityMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__us-gaap--ValuationTechniqueAxis__custom--MonteCarloSimulationMember__srt--RangeAxis__srt--MinimumMember_zaYIZtSceBek" title="Stock price">94.0</span>% - <span id="xdx_909_eus-gaap--DerivativeLiabilityMeasurementInput_iI_uPure_c20250630__us-gaap--FinancialInstrumentAxis__custom--PrivatePlacementWarrantLiabilityMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__us-gaap--ValuationTechniqueAxis__custom--MonteCarloSimulationMember__srt--RangeAxis__srt--MaximumMember_zXnDwyGBL9ic" title="Stock price">119.0</span>% </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif">Exercise Price</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_900_eus-gaap--DerivativeLiabilityMeasurementInput_iI_uPure_c20250630__us-gaap--FinancialInstrumentAxis__custom--PrivatePlacementWarrantLiabilityMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExercisePriceMember__us-gaap--ValuationTechniqueAxis__custom--MonteCarloSimulationMember__srt--RangeAxis__srt--MinimumMember_z7pTc2aMXNZ9" title="Stock price">6.60</span>-$<span id="xdx_90A_eus-gaap--DerivativeLiabilityMeasurementInput_iI_uPure_c20250630__us-gaap--FinancialInstrumentAxis__custom--PrivatePlacementWarrantLiabilityMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExercisePriceMember__us-gaap--ValuationTechniqueAxis__custom--MonteCarloSimulationMember__srt--RangeAxis__srt--MaximumMember_zWgJJASS6LVj" title="Stock price">8.25</span>  </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Dividend yield</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_902_eus-gaap--DerivativeLiabilityMeasurementInput_iI_uPure_c20250630__us-gaap--FinancialInstrumentAxis__custom--PrivatePlacementWarrantLiabilityMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember__us-gaap--ValuationTechniqueAxis__custom--MonteCarloSimulationMember_zYRCF2iPupbi" title="Stock price">0.00</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> </table> 5.89 3.0 5.0 3.7 3.8 94.0 119.0 6.60 8.25 0.00 <p id="xdx_806_eus-gaap--CommitmentsAndContingenciesDisclosureTextBlock_z3BhBpQAFWz3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>15. <span id="xdx_826_z0znBnAdSUC5">Commitments and Contingencies</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Leases</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has operating leases for its real estate across multiple states. The operating leases have remaining lease terms of approximately <span id="xdx_900_eus-gaap--LesseeOperatingLeaseRemainingLeaseTerm_iI_dtY_c20250630_zznJ8I2QROQf" title="Operating leases have remaining lease terms">2.33</span> years as of June 30, 2025 and consist primarily of office space.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The lease agreements generally do not provide an implicit borrowing rate. Therefore, the Company used a benchmark approach to derive an appropriate incremental borrowing rate to discount remaining lease payments.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Leases with an initial term of twelve months or less are not recorded on the balance sheet. There are no material residual guarantees associated with any of the Company’s leases, and there are no significant restrictions or covenants included in the Company’s lease agreements. Certain leases include variable payments related to common area maintenance and property taxes, which are billed by the landlord, as is customary with these types of charges for office space. The Company has not entered into any lease arrangements with related parties.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s existing leases contain escalation clauses and renewal options. The Company is not reasonably certain that renewal options will be exercised upon expiration of the initial terms of its existing leases.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company entered into a sublease which it has identified as an operating lease prior to the adoption of ASC 842 <i>Leases</i>. The Company remains the primary obligor to the head lease lessor, making rental payments directly to the lessor and separately billing the sublessee. The sublease is subordinate to the master lease, and the sublessee must comply with all applicable terms of the master lease. The Company subleased the real estate to a third-party at a monthly rental payment amount that was less than the monthly cost that it pays on the headlease with the lessor. The sublease expired at the end of September 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89A_eus-gaap--LeaseCostTableTextBlock_zsyxBkFV2vAb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The components of lease expense for the three months ended June 30, 2025 and 2024 , are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B7_zCsX8ZxUlxN2" style="display: none">Schedule of Components of Lease Expense</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Components of lease expense:</span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_499_20250401__20250630_zNlFnIMj6IOg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_498_20240401__20240630_zteTpJ85OyTi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2024</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">For the Three Months Ended June 30,</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Components of lease expense:</span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2024</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_400_eus-gaap--OperatingLeaseCost_i01_zbREGtpfd6Y4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Operating lease cost</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">7,332</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">46,140</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40A_eus-gaap--SubleaseIncome_i01N_di_ztK4EX5yogK7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Sublease income</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl2562">-</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(52,542</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_40D_eus-gaap--LeaseCost_i01T_zUyXLm9ex2Bj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Total lease (income) cost</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">7,332</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(6,402</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The components of lease expense for the six months ended June 30, 2025 and 2024, are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Components of lease expense:</span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49F_20250101__20250630_z3XwV7DBKhwa" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_496_20240101__20240630_zwIjdi0nhl2l" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2024</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">For the Six Months Ended June 30,</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Components of lease expense:</span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2024</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_400_eus-gaap--OperatingLeaseCost_i01_zMAyyWffQLVg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Operating lease cost</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">14,664</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">93,384</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40A_eus-gaap--SubleaseIncome_i01N_di_zsbcuUMbZmX7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Sublease income</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl2571">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(105,084</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_40D_eus-gaap--LeaseCost_i01T_zQrnkQVDNzSf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Total lease (income) cost</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">14,664</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(11,700</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> </table> <p id="xdx_8A1_zPI7UGelEzL" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89A_ecustom--ScheduleOfSupplementalCashFlowInformationRelatedToLeasesTableTextBlock_zx5lXNZWh6Ql" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Supplemental cash flow information related to leases are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B6_zRY1sKItdHYe" style="display: none">Schedule of Supplemental Cash Flow Information Related to Leases</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Supplemental cash flow information:</span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_490_20250101__20250630_z6Oc7aEK980d" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49C_20240101__20240630_zT62pj1X576k" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2024</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">For the Six Months Ended June 30,</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Supplemental cash flow information:</span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2024</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40D_eus-gaap--CashFlowOperatingActivitiesLesseeAbstract_iB_zP1ZxUDjPeMf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif">Cash paid for amounts included in the measurement of lease liabilities:</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_401_eus-gaap--OperatingLeaseRightOfUseAssetAmortizationExpense_i01_zkFDrl2463oe" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Non-cash lease expense (operating cash flow)</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">11,464</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">87,579</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40F_eus-gaap--IncreaseDecreaseInOperatingLeaseLiability_i01_zJDuMKHaarS3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Change in lease liabilities (operating cash flow)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(11,041</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(152,335</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> </table> <p id="xdx_8A0_zyFGIoeEnHa2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_895_ecustom--ScheduleOfSupplementalBalanceSheetInformationRelatedToLeasesTableTextBlock_zrZkJy7wA0z3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Supplemental balance sheet information related to leases was as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BA_z0p7xTO5kVjh" style="display: none">Schedule of Supplemental Balance Sheet Information Related to Leases</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Operating leases:</span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_494_20250630_zoaCb4tJWBbe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_496_20241231_zh9skem8eYRk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">December 31, 2024</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_407_eus-gaap--OperatingLeaseRightOfUseAsset_i01I_zVBKI0aY1Pvd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Operating lease right-of-use assets</span></td><td style="width: 2%; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">61,101</span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">72,565</span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40E_eus-gaap--OperatingLeaseLiabilityCurrent_i01I_zyqaE3jNJL1g" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Operating lease liability, current</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">24,250</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">22,731</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40D_eus-gaap--OperatingLeaseLiabilityNoncurrent_i01I_zVPS9JoTuaKh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Operating lease liability, non-current</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">37,414</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">49,974</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_409_eus-gaap--OperatingLeaseLiability_i01I_zwTmaYnbzZVc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Total operating lease liabilities</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">61,664</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">72,705</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr id="xdx_401_ecustom--WeightedAverageRemainingLeaseTermAbstract_iB_zDxZVdP21CYl" style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Weighted-average remaining lease term:</span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">December 31, 2024</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Operating leases (in years)</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_902_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20250630_zqmnz3AUS31" title="Operating leases (in years)">2.33</span></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_90F_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20241231_zk43A7baDcB" title="Operating leases (in years)">2.83</span></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr id="xdx_404_ecustom--WeightedAverageDiscountRateAbstract_iB_zQNxI6Mt7cz4" style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Weighted-average discount rate:</span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">December 31, 2024</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Operating leases</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_988_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_i01I_pid_dp_uPure_c20250630_zHQMagarHY5g" style="width: 16%; text-align: right" title="Operating leases"><span style="font-family: Times New Roman, Times, Serif">9.40</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_980_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_i01I_pid_dp_uPure_c20241231_zHAgCcOiYYOj" style="width: 16%; text-align: right" title="Operating leases"><span style="font-family: Times New Roman, Times, Serif">9.40</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> </table> <p id="xdx_8A3_zgy4LORNK07g" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89D_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_zUh7KDWFXM1e" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Future minimum lease payments under non-cancellable lease as of June 30, 2025, are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BE_zUnPxnTOUKLc" style="display: none">Schedule of Future Minimum Lease Payments Under Non-Cancellable Lease</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr id="xdx_40D_eus-gaap--OperatingLeaseLiabilitiesPaymentsDueAbstract_iB_zoCWFwr0ZGle" style="vertical-align: bottom"> <td style="text-align: left; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Maturities of lease liabilities:</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_492_20250630_ziUiQeh3heTl" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Year Ending December 31,</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40F_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_i01I_maLOLLPzVN7_zU8jp0omKadf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; width: 80%"><span style="font-family: Times New Roman, Times, Serif">Remainder of 2025</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">14,375</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_i01I_maLOLLPzVN7_z6PnIkprIA3d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">2026</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">29,466</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40E_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_i01I_maLOLLPzVN7_zNVwoJddY1ze" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">2027</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">25,167</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_i01I_maLOLLPzVN7_zJi7T7UWH8n3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">2028</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl2625">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_409_ecustom--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearThree_i01I_maLOLLPzVN7_zpdEsTQfzCQk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">2029 and thereafter</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl2627">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_i01I_maLOLLPzVN7_zqDKWczuHZvg" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Year IV</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour_i01I_maLOLLPzVN7_zEIHWWhOp1qj" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Year IV and thereafter</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_i01TI_mtLOLLPzVN7_zcBkHCjfv0Uf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Total undiscounted cash flows</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">69,008</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_407_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_i01NI_di_zqxs6434T00d" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Less discounting</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(7,344</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_402_eus-gaap--OperatingLeaseLiability_i01I_zxhAXVH59fR8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Present value of lease liabilities</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">61,664</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p id="xdx_8A4_zXjyqkjo76g" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Investor Relations Consulting Agreement with MZHCI, LLC</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On August 26, 2024, the Company entered into an Investor Relations Consulting Agreement (the “Consulting Agreement”) with MZHCI, LLC, a MZ Group Company (“MZHCI”), pursuant to which the Company agreed to issue <span id="xdx_90C_eus-gaap--RestrictedStockSharesIssuedNetOfSharesForTaxWithholdings_c20240826__20240826__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MzhciLlcMember__us-gaap--TypeOfArrangementAxis__custom--InvestorRelationsConsultingAgreementMember_zmw4pscz7MOk" title="Restricted shares issued">2,400</span> restricted shares, partially in exchange for the various investor relations services outlined in the Consulting Agreement. The Company will also pay MZHCI $<span id="xdx_90B_ecustom--InvestorRelationsServicesAmount_iI_c20240826__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MzhciLlcMember__us-gaap--TypeOfArrangementAxis__custom--InvestorRelationsConsultingAgreementMember_zWqCPaC7Xumb" title="Investor relations services amount paid">12,500</span> per month for their investor relations services with an annual <span id="xdx_903_ecustom--CostOfLivingAdjustmentPercentage_iI_pid_dp_uPure_c20240826__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MzhciLlcMember__us-gaap--TypeOfArrangementAxis__custom--InvestorRelationsConsultingAgreementMember_z58prW4rZYM5" title="Annual cost of living adjustment, percentage">5</span>% cost of living adjustment. This agreement becomes effective upon the execution of the Consulting Agreement and shall remain effective for a period of six (<span id="xdx_90C_ecustom--EffectiveAgreementPeriod_dtD_c20240826__20240826__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MzhciLlcMember__us-gaap--TypeOfArrangementAxis__custom--InvestorRelationsConsultingAgreementMember_zTlrOlVA09S3" title="Effective agreement period">6</span>) months, unless terminated earlier. The Consulting Agreement shall automatically renew every six (<span id="xdx_90C_ecustom--AgreementRenewalPeriod_dtD_c20240826__20240826__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MzhciLlcMember__us-gaap--TypeOfArrangementAxis__custom--InvestorRelationsConsultingAgreementMember_z7Hm1bx6sRT" title="Agreement renew period">6</span>) months thereafter unless either party delivers to the other sixty (<span id="xdx_900_ecustom--ServicesAgreementPeriodOfWrittenNoticeForTerminationPriorToRenewalOfAgreement_dtD_c20240826__20240826__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MzhciLlcMember__us-gaap--TypeOfArrangementAxis__custom--InvestorRelationsConsultingAgreementMember_zBf7QW0ZaULl" title="Period of written notice for termination prior to renewal of agreement">60</span>) days written notice of termination prior to the end of the then-current term. On September 9, 2024, the Company issued <span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20240909__20240909__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MzhciLlcMember__us-gaap--TypeOfArrangementAxis__custom--InvestorRelationsConsultingAgreementMember_z2wYSVId51i4" title="Share issued">24,000</span> shares to MZHCI. The shares are exempt from registration pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended, and were issued as restricted stock with an appropriate restrictive legend.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Repayment Plans</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During 2024 the Company entered into various agreements (the “Settlement Agreements”) to reorganize outstanding debt from certain creditors (collectively, the “Creditors”) into shares of the Company’s Class A Common Stock (the “Shares”) (collectively, the “Debt Reorganization”). The Shares issued as part of the Debt Reorganization include Shares that are to be registered with the Securities and Exchange Commission (the “SEC”) in a registration statement on Form S-1 and Shares that are exempt from registration. The details of the various agreements are summarized below.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Repayment Agreement with Perkins Coie LLP</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 9, 2024, the Company entered into a Repayment Agreement (the “Perkins Repayment Agreement”) where the Company agreed to issue $<span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20240909__20240909__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--PerkinsCoieLlpMember__us-gaap--TypeOfArrangementAxis__custom--PerkinsRepaymentAgreementMember_z9VrDnjnvH7c" title="Grant date fair value of shares issued">1,385,000</span> worth of shares, which the Company shall register no fewer than <span id="xdx_901_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20240909__20240909__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--PerkinsCoieLlpMember__us-gaap--TypeOfArrangementAxis__custom--PerkinsRepaymentAgreementMember__srt--RangeAxis__srt--MinimumMember_zpLqLHxfaTKl" title="Shares issued">46,000</span> shares, subject to adjustment, in a registration statement on Form S-1 within <span id="xdx_90A_ecustom--RegistrationRightsAgreementRequiredFilingTerm_dtD_c20240909__20240909__us-gaap--TypeOfArrangementAxis__custom--PerkinsRepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--PerkinsCoieLlpMember_zfPIhylCKAL9" title="Registration rights agreement">60</span> days of entering into the Perkins Repayment Agreement, and will use reasonable best efforts to ensure the Registration Statement becomes effective promptly and remains effective until all shares issued under the Perkins Repayment Agreement are sold. The Company’s registration statement on Form S-1 was filed with the SEC on October 16, 2024 and became effective on November 6, 2024. As of December 31, 2024, the Company had issued <span id="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--PerkinsCoieLlpMember__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember_zF7M6FqfpLlc" title="Shares issued">60,000</span> shares to Perkins to settle part of the outstanding liability balance. The remaining unpaid fee balance of $<span id="xdx_901_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20250101__20250630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--PerkinsCoieLlpMember__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember_zzggy1qjiuY9" title="Grant date fair value of shares issued">465,393</span> to be paid with the issuance of additional shares has not yet been made as of the date of filing of these condensed consolidated financial statements and is included in Accounts Payable on the condensed consolidated balance sheet. Effective as of August 8, 2025, <span id="xdx_90B_eus-gaap--CommonStockSharesAuthorized_iI_c20250808__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zggSr3FB00Sk" title="Common stock, shares authorized">130,000</span> class A common shares were registered with the Securities and Exchange Commission to satisfy the remaining unpaid fee balance.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Repayment Agreement with Cooley LLP</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 19, 2024 the Company entered into a Repayment Agreement with Cooley LLP (“Cooley”) for previously provided legal services (the “Cooley Repayment Agreement”). Under the Cooley Repayment Agreement, the Company’s outstanding fees have been lowered from $<span id="xdx_907_eus-gaap--DebtInstrumentFeeAmount_iI_c20240919__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CooleyLlpMember__srt--RangeAxis__srt--MaximumMember_z3jeHa0gyO6a" title="Debt instrument fee amount">1,523,029</span> to $<span id="xdx_902_eus-gaap--DebtInstrumentFeeAmount_iI_c20240919__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CooleyLlpMember__srt--RangeAxis__srt--MinimumMember_zeGxHavO0aU5" title="Debt instrument fee amount">400,000</span> (the “Cooley Unpaid Fee”) in exchange for <span id="xdx_902_eus-gaap--DebtInstrumentFrequencyOfPeriodicPayment_c20240919__20240919__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CooleyLlpMember_zFlXZqHqP5bf" title="Periodic payment">11</span> monthly installments of $<span id="xdx_908_eus-gaap--DebtInstrumentPeriodicPayment_c20240919__20240919__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CooleyLlpMember_zuMEM8vubdWk" title="Debt instrument, periodic payment">36,300</span>, with the first payment to be made on <span id="xdx_905_eus-gaap--DebtInstrumentDateOfFirstRequiredPayment1_c20240919__20240919__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CooleyLlpMember_zt6vaV2GakF7" title="First payment">October 1, 2024</span>. If payments are not made in accordance with the Repayment Agreement, Cooley retains the right to seek to collect the entire original outstanding fee balance. As such, in accordance with ASC 470-60, <span id="xdx_903_eus-gaap--GainsLossesOnExtinguishmentOfDebt_do_c20240919__20240919__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CooleyLlpMember_zDNygggKAoc6" title="Loss on extinguishment">no</span> gain on settlement will be recorded until all payments have been made as required and the potential obligation to pay the amounts written off are eliminated. The Company made all required payments as of June 30, 2025 and accordingly recognized a gain on settlement of approximately $<span id="xdx_90D_eus-gaap--GainsLossesOnExtinguishmentOfDebt_pn5n6_c20250101__20250630__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CooleyLlpMember_ziLcImjPQ31c" title="Gain loss on extinguishment">1.1</span> million, recognized within Gain on extinguishment of liabilities on the condensed consolidated statement of operations, for the six months ended June 30, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Settlement Letter with CohnReznick LLP</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 19, 2024, the Company entered into a Settlement Letter with CohnReznick LLP (“CohnReznick”) regarding the Company’s unpaid balance totaling $<span id="xdx_90B_eus-gaap--DebtInstrumentFaceAmount_iI_c20240919__us-gaap--TypeOfArrangementAxis__custom--SettlementLetterMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohnReznickLlpMember_zigg1Y9bnXQb" title="Face amount">817,400</span> for services rendered in connection with the 7GC business combination with the Company (the “Settlement Letter”). Under the Settlement Letter, the Company and CohnReznick agreed to settle the total unpaid balance due, upon CohnReznick’s receipt of $<span id="xdx_908_eus-gaap--ObligationWithJointAndSeveralLiabilityArrangementAmountReceivable_iI_c20240919__us-gaap--TypeOfArrangementAxis__custom--SettlementLetterMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohnReznickLlpMember_zADKhNw7ZUa1" title="Amount receivable">450,000</span> (the “Settlement Amount”), which will be paid in <span id="xdx_90F_eus-gaap--DebtInstrumentFrequencyOfPeriodicPayment_c20240919__20240919__us-gaap--TypeOfArrangementAxis__custom--SettlementLetterMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohnReznickLlpMember_z4QSwexpZwX6" title="Periodic payment">15</span> equal monthly installments of $<span id="xdx_90B_eus-gaap--DebtInstrumentPeriodicPayment_c20240919__20240919__us-gaap--TypeOfArrangementAxis__custom--SettlementLetterMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohnReznickLlpMember_zEpbftybxKGl" title="Debt instrument, periodic payment">30,000</span>. In consideration of the Settlement Letter, CohnReznick has agreed to not to pursue collection efforts now or at any time in the future, except as otherwise provided in the Settlement Letter. If payments are not made in accordance with the Settlement Letter, the unpaid portion of the total unpaid balance will immediately become due and payable. As such, in accordance with ASC 470-60, <span id="xdx_90A_eus-gaap--GainsLossesOnExtinguishmentOfDebt_do_c20240919__20240919__us-gaap--TypeOfArrangementAxis__custom--SettlementLetterMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohnReznickLlpMember_zM1ZcucKRFO1" title="Loss on extinguishment">no</span> gain on settlement will be recorded until all payments have been made as required and the potential obligation to pay the amounts written off are eliminated. The remaining unpaid balance of $<span id="xdx_903_eus-gaap--DebtInstrumentFaceAmount_iI_c20250630__us-gaap--TypeOfArrangementAxis__custom--SettlementLetterMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohnReznickLlpMember__us-gaap--BalanceSheetLocationAxis__custom--AccruedExpensesAndOtherCurrentLiabilitiesMember_zBOFKyyOD9wi" title="Debt instrument, periodic payment">607,400</span> is included in Accrued expenses and other current liabilities on the condensed consolidated balance sheet as of June 30, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Repayment Agreement with Sidley Austin LLP</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 19, 2024, the Company entered into a Repayment Agreement with Sidley Austin LLP (“Sidley”) for previously provided legal services (the “Sidley Repayment Agreement”). Under the Sidley Repayment Agreement, the Company’s outstanding fees have been lowered from $<span id="xdx_903_eus-gaap--DebtInstrumentFeeAmount_iI_c20240919__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SidleyAustinLlpMember__srt--RangeAxis__srt--MaximumMember_zq1MzfoBMOJ1" title="Debt instrument fee amount">4,815,979</span> to $<span id="xdx_90A_eus-gaap--DebtInstrumentFeeAmount_iI_c20240919__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SidleyAustinLlpMember__srt--RangeAxis__srt--MinimumMember_zzOWpFncySC3" title="Debt instrument fee amount">1,605,326</span> (the “Sidley Unpaid Fee”). Under the Sidley Repayment Agreement, the Company agrees to <span id="xdx_901_eus-gaap--DebtInstrumentFrequencyOfPeriodicPayment_c20240919__20240919__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SidleyAustinLlpMember_z6iBH6ZGLaff" title="Frequency of periodic payment">12</span> monthly payments that Sidley applies to the balance of the Sidley <span id="xdx_904_ecustom--UnpaidFeeDescription_c20240919__20240919__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SidleyAustinLlpMember_zrZimLD7Fcc6" title="Unpaid fee description">Unpaid Fee on a 2 for 1 basis, such that for every one dollar ($1.00) paid by Company, Sidley shall reduce the Sidley Unpaid Fee Amount by an additional two dollars ($2.00).</span> If payments are not made in accordance with the Sidley Repayment Agreement, the shortfall shall accrue interest at a rate of <span id="xdx_905_ecustom--ShortfallAccrueInterestRate_dp_uPure_c20240919__20240919__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SidleyAustinLlpMember_z8ZXGI5XuYLa" title="Shortfall accrue interest rate">12</span>% per annum, compounded daily, until such payment is made. As such, in accordance with ASC 470-60, <span id="xdx_903_eus-gaap--GainsLossesOnExtinguishmentOfDebt_do_c20240919__20240919__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SidleyAustinLlpMember_z4pZ8tyZvEle" title="Loss on extinguishment">no</span> gain on settlement will be recorded until all payments have been made as required and the potential obligation to pay the amounts written off are eliminated. The Company made all required payments as of June 30, 2025 and accordingly recognized a gain on settlement of approximately $<span id="xdx_903_eus-gaap--GainsLossesOnExtinguishmentOfDebt_pn5n6_c20250101__20250630__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SidleyAustinLlpMember__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__custom--Asc47060Member_zCfupX7dqVC3" title="Gain loss on extinguishment">3.2</span> million, recognized within Gain on extinguishment of liabilities on the condensed consolidated statement of operations, for the six months ended June 30, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Repayment Agreement with Donnelley Financial LLC</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 13, 2024, the Company entered into a Repayment Agreement with Donnelley Financial LLC (“Donnelley”) for previously provided services (the “Donnelley Repayment Agreement”). Under the Donnelley Repayment Agreement, the Company’s outstanding fees have been lowered from $<span id="xdx_903_eus-gaap--DebtInstrumentFeeAmount_iI_c20240913__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DonnelleyFinancialLlcMember__srt--RangeAxis__srt--MaximumMember_zETiBrT0civ1" title="Debt instrument fee amount">1,072,148</span> to $<span id="xdx_903_eus-gaap--DebtInstrumentFeeAmount_iI_c20240913__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DonnelleyFinancialLlcMember__srt--RangeAxis__srt--MinimumMember_z3Vgq57yUHS7" title="Debt instrument fee amount">357,025</span> (the “Donnelley Unpaid Fee”). The Donnelley Unpaid Fee will be paid in <span id="xdx_906_eus-gaap--DebtInstrumentFrequencyOfPeriodicPayment_c20240913__20240913__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DonnelleyFinancialLlcMember_zkvdWErAUhGe" title="Frequency of periodic payment">12 monthly installments</span>, with the first monthly payment of $<span id="xdx_90E_eus-gaap--DebtInstrumentPeriodicPayment_c20240913__20240913__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DonnelleyFinancialLlcMember_zXVIyOVnPjN1" title="Periodic payment">45,000</span> due on October 1, 2024; the remaining 11 payments shall each be in the amount of $<span id="xdx_90F_ecustom--RemainingMonthlyInstallmentAmount_c20240913__20240913__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DonnelleyFinancialLlcMember_zDoikHZJZGg2" title="Remaining monthly installment">28,366</span>. Under the Donnelly Repayment Agreement, the original outstanding fee balance shall become immediately due and payable upon the occurrence of certain events, including failure to make a payment of the Donnelly Unpaid Fee when due and failure to pay for any additional services. As such, in accordance with ASC 470-60, <span id="xdx_90B_eus-gaap--GainsLossesOnExtinguishmentOfDebt_do_c20240913__20240913__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DonnelleyFinancialLlcMember_zFiporKvMuth" title="Gain loss on extinguishment">no</span> gain on settlement will be recorded until all payments have been made as required and the potential obligation to pay the amounts written off are eliminated. The remaining unpaid balance of $<span id="xdx_90B_eus-gaap--DebtInstrumentFeeAmount_iI_do_c20250630__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DonnelleyFinancialLlcMember__us-gaap--BalanceSheetLocationAxis__custom--AccruedExpensesAndOtherCurrentLiabilitiesMember_zN1biBwnEyy3" title="Administrative agent fees">141,829</span> is included in Accrued expenses and other current liabilities on the condensed consolidated balance sheet as of June 30, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Repayment Agreement with Verista Partners, Inc.</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On August 26, 2024, the Company entered into a Repayment Agreement with Verista Partners, Inc. aka Winterberry Group, (“Verista” or “Winterberry”) for previously provided services (the “Verista Repayment Agreement”). Under the Verista Repayment Agreement, the Company’s outstanding fees are $<span id="xdx_902_eus-gaap--DebtInstrumentFeeAmount_iI_pp2d_c20240826__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--VeristaPartnersIncMember_zbq0aSObGke5" title="Administrative agent fees">196,666</span> (the “Verista Unpaid Fee”). The Company and Verista have agreed that the Verista Unpaid Fee will be repaid with $<span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20240826__20240826__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--VeristaPartnersIncMember_z2krCneEAv6l" title="Grant date fair value of shares issued">66,666</span> worth of shares of the Company, and $<span id="xdx_902_ecustom--DebtInstrumentFeeRemainingAmount_iI_c20240826__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--VeristaPartnersIncMember_ze7h8cRbixJk" title="Remaining amount">130,000</span> in <span id="xdx_909_eus-gaap--DebtInstrumentFrequencyOfPeriodicPayment_c20240826__20240826__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--VeristaPartnersIncMember_zFoVNz4KPQi8" title="Frequency of periodic payment">16</span> equal cash installment payments of $<span id="xdx_90C_ecustom--RemainingMonthlyInstallmentAmount_c20240826__20240826__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--VeristaPartnersIncMember_z3eC4Jfn4aG4" title="Monthly installment amount">8,125</span>, beginning on <span id="xdx_907_eus-gaap--DebtInstrumentDateOfFirstRequiredPayment1_c20240826__20240826__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--VeristaPartnersIncMember_zaum6Hd3dlP3" title="Date of first payment">October 1, 2024</span>, and on the first day of each month thereafter through January 1, 2026. As of June 30, 2025, the Company had issued <span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250101__20250630__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--VeristaPartnersIncMember_zvmCSz104bod" title="Shares issued">3,000</span> shares and made aggregate installment payments of $<span id="xdx_909_eus-gaap--DebtInstrumentPeriodicPayment_c20250101__20250630__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--VeristaPartnersIncMember_zHF1AE4pFRIb">78,437</span> to Verista. The remaining unpaid balance of $<span id="xdx_906_eus-gaap--DebtInstrumentFeeAmount_iI_c20250630__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--VeristaPartnersIncMember__us-gaap--BalanceSheetLocationAxis__us-gaap--AccountsPayableMember_zw08OCi44Xji" title="Administrative agent fees">64,691</span> is included in Accounts Payable on the condensed consolidated balance sheet as of June 30, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Payment to Act-On</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company previously announced its entry into an Agreement and Plan of Merger, dated January 22, 2025, with Act-On Software, Inc., a Delaware corporation (“Act-On”), and Banzai Passage Inc., a Delaware corporation and wholly owned subsidiary of Banzai. Although the Company worked diligently to complete all closing conditions of the Plan of Merger, due to current market conditions, on</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">June 6, 2025, Act-On served Banzai with a notice of termination to terminate the Merger Agreement and any related agreements (collectively, the “Transaction Documents”). As per the Transaction Documents, within five calendar days, the Company was required to pay certain termination fees including $<span id="xdx_906_ecustom--LiquidatedDamagesToBePaid_iI_c20250606__us-gaap--TypeOfArrangementAxis__custom--PaymentToActOnMember_zNJPsdqbgwQi" title="Liquidated damages">500,000</span> in liquidated damages to cover certain transaction expenses that Act-On incurred in connection with the merger contemplated by the Merger Agreement and $<span id="xdx_90A_ecustom--AdditionalInterestAndExtensionFees_c20250606__20250606__us-gaap--TypeOfArrangementAxis__custom--PaymentToActOnMember_zSYMRqodD7d1" title="Additional interest and extension fees">882,030</span> in additional interest and extension fees associated with one of Act-On’s outstanding debts that the Company had intended to payoff in connection with the merger contemplated by the Merger Agreement. As of June 30, 2025, the Company had paid the total amount owed of approximately $<span id="xdx_901_ecustom--AmountOwed_iI_c20250630__us-gaap--TypeOfArrangementAxis__custom--PaymentToActOnMember_zMJWyveV8Jrd" title="Amount owed">1,382,030</span> to Act-On.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Legal Matters</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the regular course of business affairs and operations, the Company is subject to possible loss contingencies arising from third-party litigation and federal, state, and local environmental, labor, health and safety laws and regulations. The Company assesses the probability that they may incur a liability in connection with certain of these lawsuits. The Company’s assessments are made in accordance with generally accepted accounting principles, as codified in ASC 450-20, and is not an admission of any liability on the part of the Company or any of its subsidiaries. In certain cases that are in the early stages and in light of the uncertainties surrounding them, the Company does not currently possess sufficient information to determine a range of reasonably possible liability.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> P2Y3M29D <p id="xdx_89A_eus-gaap--LeaseCostTableTextBlock_zsyxBkFV2vAb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The components of lease expense for the three months ended June 30, 2025 and 2024 , are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B7_zCsX8ZxUlxN2" style="display: none">Schedule of Components of Lease Expense</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Components of lease expense:</span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_499_20250401__20250630_zNlFnIMj6IOg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_498_20240401__20240630_zteTpJ85OyTi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2024</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">For the Three Months Ended June 30,</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Components of lease expense:</span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2024</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_400_eus-gaap--OperatingLeaseCost_i01_zbREGtpfd6Y4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Operating lease cost</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">7,332</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">46,140</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40A_eus-gaap--SubleaseIncome_i01N_di_ztK4EX5yogK7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Sublease income</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl2562">-</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(52,542</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_40D_eus-gaap--LeaseCost_i01T_zUyXLm9ex2Bj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Total lease (income) cost</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">7,332</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(6,402</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The components of lease expense for the six months ended June 30, 2025 and 2024, are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Components of lease expense:</span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49F_20250101__20250630_z3XwV7DBKhwa" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_496_20240101__20240630_zwIjdi0nhl2l" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2024</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">For the Six Months Ended June 30,</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Components of lease expense:</span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2024</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_400_eus-gaap--OperatingLeaseCost_i01_zMAyyWffQLVg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Operating lease cost</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">14,664</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">93,384</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40A_eus-gaap--SubleaseIncome_i01N_di_zsbcuUMbZmX7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Sublease income</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl2571">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(105,084</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_40D_eus-gaap--LeaseCost_i01T_zQrnkQVDNzSf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Total lease (income) cost</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">14,664</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(11,700</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> </table> 7332 46140 52542 7332 -6402 14664 93384 105084 14664 -11700 <p id="xdx_89A_ecustom--ScheduleOfSupplementalCashFlowInformationRelatedToLeasesTableTextBlock_zx5lXNZWh6Ql" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Supplemental cash flow information related to leases are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B6_zRY1sKItdHYe" style="display: none">Schedule of Supplemental Cash Flow Information Related to Leases</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Supplemental cash flow information:</span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_490_20250101__20250630_z6Oc7aEK980d" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49C_20240101__20240630_zT62pj1X576k" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2024</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">For the Six Months Ended June 30,</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Supplemental cash flow information:</span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2024</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40D_eus-gaap--CashFlowOperatingActivitiesLesseeAbstract_iB_zP1ZxUDjPeMf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif">Cash paid for amounts included in the measurement of lease liabilities:</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_401_eus-gaap--OperatingLeaseRightOfUseAssetAmortizationExpense_i01_zkFDrl2463oe" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Non-cash lease expense (operating cash flow)</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">11,464</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">87,579</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40F_eus-gaap--IncreaseDecreaseInOperatingLeaseLiability_i01_zJDuMKHaarS3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Change in lease liabilities (operating cash flow)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(11,041</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(152,335</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> </table> 11464 87579 -11041 -152335 <p id="xdx_895_ecustom--ScheduleOfSupplementalBalanceSheetInformationRelatedToLeasesTableTextBlock_zrZkJy7wA0z3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Supplemental balance sheet information related to leases was as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BA_z0p7xTO5kVjh" style="display: none">Schedule of Supplemental Balance Sheet Information Related to Leases</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Operating leases:</span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_494_20250630_zoaCb4tJWBbe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_496_20241231_zh9skem8eYRk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">December 31, 2024</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_407_eus-gaap--OperatingLeaseRightOfUseAsset_i01I_zVBKI0aY1Pvd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Operating lease right-of-use assets</span></td><td style="width: 2%; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">61,101</span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">72,565</span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40E_eus-gaap--OperatingLeaseLiabilityCurrent_i01I_zyqaE3jNJL1g" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Operating lease liability, current</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">24,250</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">22,731</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40D_eus-gaap--OperatingLeaseLiabilityNoncurrent_i01I_zVPS9JoTuaKh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Operating lease liability, non-current</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">37,414</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">49,974</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_409_eus-gaap--OperatingLeaseLiability_i01I_zwTmaYnbzZVc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Total operating lease liabilities</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">61,664</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">72,705</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr id="xdx_401_ecustom--WeightedAverageRemainingLeaseTermAbstract_iB_zDxZVdP21CYl" style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Weighted-average remaining lease term:</span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">December 31, 2024</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Operating leases (in years)</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_902_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20250630_zqmnz3AUS31" title="Operating leases (in years)">2.33</span></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_90F_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20241231_zk43A7baDcB" title="Operating leases (in years)">2.83</span></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr id="xdx_404_ecustom--WeightedAverageDiscountRateAbstract_iB_zQNxI6Mt7cz4" style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Weighted-average discount rate:</span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">December 31, 2024</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Operating leases</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_988_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_i01I_pid_dp_uPure_c20250630_zHQMagarHY5g" style="width: 16%; text-align: right" title="Operating leases"><span style="font-family: Times New Roman, Times, Serif">9.40</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_980_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_i01I_pid_dp_uPure_c20241231_zHAgCcOiYYOj" style="width: 16%; text-align: right" title="Operating leases"><span style="font-family: Times New Roman, Times, Serif">9.40</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> </table> 61101 72565 24250 22731 37414 49974 61664 72705 P2Y3M29D P2Y9M29D 0.0940 0.0940 <p id="xdx_89D_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_zUh7KDWFXM1e" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Future minimum lease payments under non-cancellable lease as of June 30, 2025, are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BE_zUnPxnTOUKLc" style="display: none">Schedule of Future Minimum Lease Payments Under Non-Cancellable Lease</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr id="xdx_40D_eus-gaap--OperatingLeaseLiabilitiesPaymentsDueAbstract_iB_zoCWFwr0ZGle" style="vertical-align: bottom"> <td style="text-align: left; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Maturities of lease liabilities:</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_492_20250630_ziUiQeh3heTl" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Year Ending December 31,</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40F_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_i01I_maLOLLPzVN7_zU8jp0omKadf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; width: 80%"><span style="font-family: Times New Roman, Times, Serif">Remainder of 2025</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">14,375</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_i01I_maLOLLPzVN7_z6PnIkprIA3d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">2026</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">29,466</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40E_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_i01I_maLOLLPzVN7_zNVwoJddY1ze" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">2027</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">25,167</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_i01I_maLOLLPzVN7_zJi7T7UWH8n3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">2028</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl2625">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_409_ecustom--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearThree_i01I_maLOLLPzVN7_zpdEsTQfzCQk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">2029 and thereafter</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl2627">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_i01I_maLOLLPzVN7_zqDKWczuHZvg" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Year IV</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour_i01I_maLOLLPzVN7_zEIHWWhOp1qj" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Year IV and thereafter</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_i01TI_mtLOLLPzVN7_zcBkHCjfv0Uf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Total undiscounted cash flows</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">69,008</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_407_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_i01NI_di_zqxs6434T00d" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Less discounting</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(7,344</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_402_eus-gaap--OperatingLeaseLiability_i01I_zxhAXVH59fR8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Present value of lease liabilities</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">61,664</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> 14375 29466 25167 69008 7344 61664 2400 12500 0.05 P6D P6D P60D 24000 1385000 46000 P60D 60000 465393 130000 1523029 400000 11 36300 2024-10-01 0 1100000 817400 450000 15 30000 0 607400 4815979 1605326 12 Unpaid Fee on a 2 for 1 basis, such that for every one dollar ($1.00) paid by Company, Sidley shall reduce the Sidley Unpaid Fee Amount by an additional two dollars ($2.00). 0.12 0 3200000 1072148 357025 12 monthly installments 45000 28366 0 141829 196666 66666 130000 16 8125 2024-10-01 3000 78437 64691 500000 882030 1382030 <p id="xdx_803_eus-gaap--StockholdersEquityNoteDisclosureTextBlock_z7CW8Epx6lh6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>16. <span id="xdx_823_zG7dwo0HDka6">Equity</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Class A and B Common Stock</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is authorized to issue up to <span id="xdx_902_eus-gaap--CommonStockSharesAuthorized_iI_pid_c20250630__srt--RangeAxis__srt--MaximumMember_zGr0wWfXBhSd" title="Common stock, shares authorized">275,000,000</span> shares, consisting of <span id="xdx_903_eus-gaap--CommonStockSharesAuthorized_iI_pid_c20250630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zukCGyvQYhj4" title="Common stock, shares authorized">250,000,000</span> Class A Common Stock, and <span id="xdx_90C_eus-gaap--CommonStockSharesAuthorized_iI_pid_c20250630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zEaS0ekbYr6" title="Common stock, shares authorized">25,000,000</span> shares of Class B Common Stock par value $<span id="xdx_904_eus-gaap--CommonStockParOrStatedValuePerShare_iI_pid_c20250630_zqDwsGqQvxD3" title="Common stock par value">0.0001</span> per share.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90A_eus-gaap--CommonStockVotingRights_c20250101__20250630_zBk5zWROln5h" title="Common stock voting rights">The Class A Common Stock and Class B Common Stock entitle their holders to one vote per share and ten votes per share, respectively, on each matter properly submitted to the stockholders entitled to vote thereon.</span> The holders of shares of Common Stock shall be entitled to receive dividends declared by the Board of Directors, on a pro rata basis based on the number of shares of Common Stock held by each such holder, assuming conversion of all Class B Common Stock into Class A Common Stock at a one to one conversion ratio.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There were <span id="xdx_902_eus-gaap--CommonStockSharesIssued_iI_pid_c20250630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_z8u5ki75PlG3" title="Common stock, shares issued"><span id="xdx_90E_eus-gaap--CommonStockSharesOutstanding_iI_pid_c20250630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zeJKsVHNKC2b" title="Common stock, shares outstanding">2,478,587</span></span> shares (<span id="xdx_906_eus-gaap--CommonStockSharesIssued_iI_pid_c20250630__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zDLsvap2mkNf" title="Common stock shares issued"><span id="xdx_90B_eus-gaap--CommonStockSharesOutstanding_iI_pid_c20250630__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zj2E7RO9KAx2" title="Common stock, shares outstanding">2,247,473</span></span> Class A Common Stock and <span id="xdx_90F_eus-gaap--CommonStockSharesIssued_iI_pid_c20250630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zZdxSLndZlD4" title="Common stock, shares issued"><span id="xdx_909_eus-gaap--CommonStockSharesOutstanding_iI_pid_c20250630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zEvwovSQOuXc" title="Common stock, shares outstanding">231,114</span></span> Class B Common Stock) issued and outstanding at June 30, 2025 and <span id="xdx_90F_eus-gaap--CommonStockSharesIssued_iI_pid_c20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_z99EXelfxr6g" title="Common stock, shares issued"><span id="xdx_90D_eus-gaap--CommonStockSharesOutstanding_iI_pid_c20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zNU7CPCJIbK3" title="Common stock, shares outstanding">819,516</span></span> shares (<span id="xdx_900_eus-gaap--CommonStockSharesIssued_iI_pid_c20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zTvoa9jD1NN7" title="Common stock, shares issued"><span id="xdx_903_eus-gaap--CommonStockSharesOutstanding_iI_pid_c20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z1mGSkyU4A7d" title="Common stock, shares outstanding">588,402</span></span> Class A Common Stock and <span id="xdx_90C_eus-gaap--CommonStockSharesIssued_iI_pid_c20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zZ1evViee4pc" title="Common stock, shares issued"><span id="xdx_90E_eus-gaap--CommonStockSharesOutstanding_iI_pid_c20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zKT88TBjMLKh" title="Common stock, shares outstanding">231,114</span></span> Class B Common Stock) issued and outstanding at December 31, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Preferred Stock</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is authorized to issue <span id="xdx_906_eus-gaap--PreferredStockSharesAuthorized_iI_pid_c20250630_z1Wdi26e2H24" title="Preferred stock, shares authorized">75,000,000</span> shares of preferred stock with a par value of $<span id="xdx_900_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_pid_c20250630_zMrtImYMDMUg" title="Preferred stock, par value">0.0001</span> per share. The board of directors of the Company (the “Board”) has the authority to issue preferred stock and to determine the rights, privileges, preferences, restrictions, and voting rights of those shares. As of June 30, 2025 and 2024, <span id="xdx_90B_eus-gaap--PreferredStockSharesOutstanding_iI_dc_uShares_c20250630_zy2yqDdJh8se" title="Preferred stock, shares outstanding">one</span> and <span id="xdx_906_eus-gaap--PreferredStockSharesOutstanding_iI_pid_do_c20240630_zuraFu544FJf" title="Preferred stock, shares outstanding">no</span> shares of preferred stock were outstanding, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Yorkville Standby Equity Purchase Agreement (“SEPA”) </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 14, 2023, the Company entered into the SEPA with YA II PN, LTD, a Cayman Islands exempt limited partnership managed by Yorkville Advisors Global, LP (“Yorkville”) in connection with the Merger. Pursuant to the SEPA, subject to certain conditions, the Company shall have the option, but not the obligation, to sell to Yorkville, and Yorkville shall subscribe for, an aggregate amount of up to up to $<span id="xdx_90C_eus-gaap--AssetAcquisitionConsiderationTransferred_c20231214__20231214__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_zQ48SimAA3Af" title="Total consideration payable in shares of class A common stock">100,000,000</span> of the Company’s shares of Class A common stock, par value $<span id="xdx_905_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20231214__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_z8Odh8PMyx69" title="Common stock par value">0.0001</span> per share, at the Company’s request any time during the commitment period commencing on December 14, 2023 and terminating on the 36-month anniversary of the SEPA (the “SEPA Option”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each advance (each, an “Advance”) the Company requests under the SEPA (notice of such request, an “Advance Notice”) may be for a number of shares of Class A common stock up to the greater of (i) <span id="xdx_90E_eus-gaap--InvestmentCompanyExpenseLimitationAgreementDescription_c20250101__20250630__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_zNmEZzbMN8x7" title="Description of equity facility financing agreement">10,000 shares or (ii) such amount as is equal to 100% of the average daily volume traded of the Class A common stock during the five trading days immediately prior to the date the Company requests each Advance</span>; provided, in no event shall the number of shares of Class A common stock issued cause the aggregate shares of Class A common stock held by Yorkville and its affiliates as of any such date to exceed <span id="xdx_902_ecustom--PercentageOfSharesOutstandingAtTheDateOfAdvanceNotice_pid_dp_uPure_c20231214__20231214__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zDmulByp5p55" title="Description of equity facility financing agreement">9.99</span>% of the total number of shares of Class A common stock outstanding as of the date of the Advance Notice (less any such shares held by Yorkville and its affiliates as of such date) (the “Exchange Cap”). The shares would be purchased, at the Company’s election, at a purchase price equal to either:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i) </span><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_90D_ecustom--PercentageOfAverageDailyVolumeWeightedAveragePrice_pid_dp_uPure_c20231214__20231214__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zceDpZcIEhli" title="Percentage of average daily volume weighted average price">95</span>% of the average daily Volume Weighted Average Price (“VWAP”) of the Class A Common Stock on the Nasdaq Stock Market (“Nasdaq”), subject to certain conditions per the SEPA (the “Option 1 Pricing Period; or</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii) </span><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_904_ecustom--PercentageOfLowestDailyVolumeWeightedAveragePrice_pid_dp_uPure_c20231214__20231214__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zmOchpk19OTc" title="Percentage of lowest daily volume weighted average price">96</span>% of the lowest daily VWAP of the Class A Common Stock during the three trading days commencing on the Advance Notice date, subject to certain conditions per the SEPA (the “Option 2 Pricing Period”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any purchase under an Advance would be subject to certain limitations, including that Yorkville shall not purchase or acquire any shares that would result in it and its affiliates beneficially owning more than 9.99% of the then outstanding voting power or number of shares of Class A common stock or any shares that, aggregated with shares issued under all other earlier Advances, would exceed <span id="xdx_904_ecustom--PurchaseOfStockPercentageOfOutstandingSharesOwnershipLimitation_pid_dp_uPure_c20231214__20231214__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zEtGUG1E3sac" title="Percentage of outstanding shares"><span id="xdx_906_ecustom--PurchaseOfStockPercentageOfOutstandingSharesOwnershipLimitation_pid_dp_uPure_c20231214__20231214__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zkWOPzzsKsd8" title="Percentage of outstanding shares">19.99</span></span>% of all shares of Class A common stock and Class B common stock of the Company, par value $<span id="xdx_906_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20231214__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zdRWBDKIVxba" title="Common stock par value"><span id="xdx_902_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20231214__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zZ96dakOdGO" title="Common stock par value">0.0001</span></span> per share, outstanding on the date of the SEPA, unless Company shareholder approval was obtained allowing for issuances in excess of such amount.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The SEPA Option was determined to be a freestanding financial instrument which did not meet the criteria to be accounted for as a derivative instrument or to be recognized within equity. Pursuant to ASC 815 <i>Derivatives and Hedging </i>(“ASC 815”), the Company will therefore recognize the SEPA Option as an asset or liability, measured at fair value at the date of issuance, December 14, 2023, and in subsequent reporting periods, with changes in fair value recognized in earnings.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In connection with the execution of the SEPA, the Company agreed to pay a commitment fee of $<span id="xdx_909_ecustom--CommitmentFeePayable_iI_c20250630__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_zEmS4S4qufG6" title="Commitment fee payable">500,000</span> to Yorkville at the earlier of (i) March 14, 2024 or (ii) the termination of the SEPA, which will be payable, at the option of the Company, in cash or shares of Class A common stock through an Advance (the “Deferred Fee”). In March 2024 the Company issued <span id="xdx_90A_ecustom--SharesIssuedAsPaymentOfDeferredFee_c20240301__20240331__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zRwYkipSg9F6" title="Shares issued as payment of deferred fee">1,420</span> Class A common stock as payment for the Deferred Fee.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to the terms of the SEPA, at any time that there is a balance outstanding under the Yorkville Promissory Notes or Yorkville Note, Yorkville has the right to receive shares to pay down the principal balance, and may select the timing and delivery of such shares (via an “Investor Notice”), in an amount up to the outstanding principal balance on the Yorkville Promissory Notes at a purchase price equal to the lower of (i) $<span id="xdx_90B_eus-gaap--SharesIssuedPricePerShare_iI_pid_c20231214__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zYtTHsA73B7f" title="Common stock price per share">5,000</span> per share of Class A common stock (the “Fixed Price”), or (ii) <span id="xdx_907_ecustom--PercentageOfLowestDailyVolumeWeightedAveragePrice_pid_dp_uPure_c20231214__20231214__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_zBUFuNoLuRF3" title="Percentage of lowest daily volume weighted average price">90</span>% of the lowest daily Volume Weighted Average Price (“VWAP”) of the Class A common stock on Nasdaq during the 10 consecutive Trading Days immediately preceding the Investor Notice date or other date of determination (the “Variable Price”). The Variable Price shall not be lower than $<span id="xdx_908_ecustom--MaximumFloorPrice_iI_pid_c20231214__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember__srt--RangeAxis__srt--MaximumMember_zrsmxGe21Kol" title="Maximum floor price">1,000</span> per share (the “Floor Price”). <span id="xdx_907_ecustom--FloorPriceAdjustment_pid_c20231214__20231214__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_zyXBCmAsBFpe" title="Floor price adjustment">The Floor Price shall be adjusted (downwards only) to equal 20% of the average VWAP for the five trading days immediately prior to the date of effectiveness of the initial Registration Statement.</span> Notwithstanding the foregoing, the Company may reduce the Floor Price to any amount via written notice to Yorkville, provided that such amount is no more than <span id="xdx_90B_ecustom--MaximumPercentageOfClosingPriceOnTradingDay_pid_dp_uPure_c20231214__20231214__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_ze1ZRzDMWV47" title="Maximum percentage of closing price on trading day">75</span>% of the closing price on the Trading Day immediately prior to the time of such reduction and no greater than $<span id="xdx_903_eus-gaap--CommonStockConvertibleConversionPriceIncrease_pid_c20231214__20231214__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zbPhyH5nO795" title="Maximum conversion price">1,000</span> per share of Class A common stock (the “Conversion Price”). At any time that there is a balance outstanding under the Yorkville Promissory Notes, the Company is not permitted to issue Advance Notices under the SEPA unless an Amortization Event has occurred under the terms of the Yorkville Promissory Notes agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the three and six months ended June 30, 2025, the Company issued Advance Notices to Yorkville pursuant to the SEPA requesting the purchase of shares of the Company’s Class A common stock. The Company elected to issue Advance Notices subject to both the Option 1 Pricing Period (the “Option 1 Advances”) and the Option 2 Pricing Period (the “Option 2 Advances”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the six months ended June 30, 2025 the Company requested the purchase of a total of <span id="xdx_907_eus-gaap--CommonStockSharesAuthorized_iI_pid_c20250630__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--OptionIndexedToIssuersEquityTypeAxis__custom--OptionOneAdvanceMember_zP4MlLXYBQv6" title="Common stock, shares authorized">501,000</span> shares of the Company’s Class A common stock in connection with the Option 1 Advances, which Yorkville purchased for a total purchase price of approximately $<span id="xdx_90A_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_c20250101__20250630__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--OptionIndexedToIssuersEquityTypeAxis__custom--OptionOneAdvanceMember_z59YYlyNGNc8" title="Aggregate gross proceeds from offering">4,257,000</span>. The Company recognized a loss of approximately $<span id="xdx_908_eus-gaap--GainsLossesOnExtinguishmentOfDebt_c20250101__20250630__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--OptionIndexedToIssuersEquityTypeAxis__custom--OptionOneAdvanceMember_zuT9q8yKa4qk">221,000</span> on the sales, which represents the difference between the fair value of the shares issued and the proceeds received from the sales.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the six months ended June 30, 2025 the Company requested the purchase of a total of <span id="xdx_90E_eus-gaap--CommonStockSharesAuthorized_iI_pid_c20250630__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--OptionIndexedToIssuersEquityTypeAxis__custom--OptionTwoAdvanceMember_z91RrgyLFtKi" title="Common stock, shares authorized">763,680</span> shares of the Company’s Class A common stock in connection the Option 2 Advances. The issuance of the Advance Notices subject to the Option 2 Pricing Period represents the creation of forward share sales contracts, which were determined to meet the definition of a derivative pursuant to ASC Topic 815, <i>Derivatives and Hedging</i>. As such, upon issuance of the Advance Notices for the Option 2 Advances, the Company recognized derivative liabilities totaling approximately $<span id="xdx_902_eus-gaap--DerivativeInstrumentsInHedgesLiabilitiesAtFairValue_iI_pid_c20250630__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--OptionIndexedToIssuersEquityTypeAxis__custom--OptionTwoAdvanceMember_ziQsT7oykiM4" title="Derivative liabilities">415,000</span> in the aggregate, the fair values of which represented the intrinsic value of the requested number of shares of Class A common stock on the Advance Notice dates. The Company recognized a loss of approximately $<span id="xdx_900_eus-gaap--GainsLossesOnExtinguishmentOfDebt_c20250101__20250630__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--OptionIndexedToIssuersEquityTypeAxis__custom--OptionTwoAdvanceMember_z1Z8RnwxfYg7" title="Gain loss on debt extinguishment">169,000</span> during the six months ended June 30, 2025 representing the change in fair value of the derivative liabilities during the period from the Advance Notice dates and the settlement dates of the Option 2 Advances. Upon settlement of the Option 2 Advances, the Company sold an aggregate of <span id="xdx_90E_ecustom--SharesSold_iI_pid_c20250630__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--OptionIndexedToIssuersEquityTypeAxis__custom--OptionTwoAdvanceMember_z6sQhuor0RO1" title="Shares sold">738,630</span> shares of the Company’s Class A common stock to Yorkville for total proceeds of approximately $<span id="xdx_90B_ecustom--GrossProceeds_c20250101__20250630__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--OptionIndexedToIssuersEquityTypeAxis__custom--OptionTwoAdvanceMember_zlOlcNsNEdJk" title="Gross proceeds">8,608,000</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additionally, during the six months ended June 30, 2025, the Company settled one Advance Notice subject to the Option 2 Pricing Period issued on December 30, 2024, and accordingly sold <span id="xdx_903_ecustom--SharesSold_iI_pid_c20241230__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--OptionIndexedToIssuersEquityTypeAxis__custom--OptionTwoAdvanceMember_zIyZocvaFx73" title="Shares sold">30,489</span> of the Company’s Class A common stock to Yorkville for proceeds of approximately $<span id="xdx_909_ecustom--GrossProceeds_c20241230__20241230__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--OptionIndexedToIssuersEquityTypeAxis__custom--OptionTwoAdvanceMember_z70CNnmgEJp7" title="Gross proceeds">48,000</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Shares Issued to Hudson</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 3, 2025, the Company issued <span id="xdx_907_eus-gaap--CommonStockSharesIssued_iI_pid_c20250103__us-gaap--TypeOfArrangementAxis__custom--HudsonGlobalVenturesLLCMember_zTqUOgA9VWza" title="Common stock, shares issued">15,000</span> restricted shares of its Common Stock, with a determined fair value of $<span id="xdx_907_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20250103__20250103__us-gaap--TypeOfArrangementAxis__custom--HudsonGlobalVenturesLLCMember_zJLIgJFmmSKc" title="Grant date fair value of shares issued">232,500</span>, partially in exchange for the business advisory services outlined in the consulting agreement with Hudson Global Ventures, LLC, a Nevada limited liability company (“Hudson”). On April 25, 2025, the Company issued <span id="xdx_90A_eus-gaap--CommonStockSharesIssued_iI_pid_c20250425__us-gaap--TypeOfArrangementAxis__custom--HudsonGlobalVenturesLLCMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z8SpZqRwEgbj" title="Common stock, shares issued">40,000</span> restricted shares of its Class A Common Stock to Hudson, in exchange for certain business advisory services as outlined in a consulting agreement with Hudson, executed on April 1, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Shares Issued to Verista</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On August 26, 2024, the Company issued <span id="xdx_906_eus-gaap--CommonStockSharesIssued_iI_pid_c20240826__us-gaap--TypeOfArrangementAxis__custom--VeristaPartnersIncMember_zddTwORngbGg" title="Common stock, shares issued">3,000</span> shares of its Common Stock, with a determined fair value of $<span id="xdx_904_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20240826__20240826__us-gaap--TypeOfArrangementAxis__custom--VeristaPartnersIncMember_z9f2t3JjaoW2" title="Grant date fair value of shares issued">49,800</span>, in partial settlement of amounts owing to Verista. Refer to <i>Note 15</i> - <i>Commitments and Contingencies</i> for further detail.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Shares Issued for RSU</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 6, 2025, holders of <span id="xdx_905_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisedInPeriod_pid_c20250306__20250306__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zB8rQqYkJyPb" title="Shares excercised">33,777</span> Restricted Stock Units (RSU’s), previously granted during the 2024 financial year, exercised those RSU’s in exchange for <span id="xdx_904_eus-gaap--ConversionOfStockSharesConverted1_pid_c20250306__20250306__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zZjeAnlLuiRh" title="Conversion of stock, shares converted">33,777</span> shares of Class A Common Stock of the Company. During the three months ended June 30, 2025, holders of <span id="xdx_90C_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisedInPeriod_pid_c20250401__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_za1KwJnffRW5" title="Shares excercised">43,674</span> RSU’s exercised those RSU’s in exchange for <span id="xdx_905_eus-gaap--ConversionOfStockSharesConverted1_pid_c20250401__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z5pVTQvWjRc6" title="Conversion of Stock, Shares Converted">43,674</span> shares of Class A Common Stock of the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Shares Issued for Vidello Acquisition</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As disclosed above, on January 31, 2025, the Company closed a previously announced merger with Vidello. As part of the consideration paid to the Vidello Shareholders, the Company issued <span id="xdx_904_eus-gaap--BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued_pid_c20250131__20250131__us-gaap--BusinessAcquisitionAxis__custom--VidelloLimitedMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zsNKYT2mYD49" title="Number of shares issued">89,820</span> shares of Class A Common Stock, with a determined fair value of $<span id="xdx_909_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pid_c20250131__20250131__us-gaap--BusinessAcquisitionAxis__custom--VidelloLimitedMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zcpbzKIfHom4" title="Grant date fair value of shares issued">1,661,677</span>. Refer to <i>Note 4</i> - <i>Acquisition of Vidello</i> for further detail.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Shares Issued for prefunded warrant exercise</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 21, 2025, the Company issued <span id="xdx_90C_eus-gaap--CommonStockSharesIssued_iI_pid_c20250421__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlcoMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zxT3a0CVk987" title="Common stock, shares issued">104,882</span> shares of Class A Common Stock to Alco, resulting from the exercise by Alco of prefunded warrants purchased during September 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Shares Issued for private placement</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In May 2025, the Company entered into a private placement agreement with certain investors to sell <span id="xdx_900_eus-gaap--CommonStockSharesAuthorized_iI_pid_c20250531__us-gaap--SubsidiarySaleOfStockAxis__custom--SharesIssuedForPrivatePlacementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zZyR5FCBnqRi" title="Common stock, shares authorized">31,884</span> shares of Class A common stock at $<span id="xdx_905_eus-gaap--SaleOfStockPricePerShare_iI_pid_c20250531__us-gaap--SubsidiarySaleOfStockAxis__custom--SharesIssuedForPrivatePlacementMember_zS3GYYMCdAM4" title="Price per share">6.90</span> per share and <span id="xdx_90A_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20250531__us-gaap--SubsidiarySaleOfStockAxis__custom--SharesIssuedForPrivatePlacementMember__us-gaap--ClassOfWarrantOrRightAxis__custom--May2025PrefundedWarrantsMember_zWr3AbkSNim5" title="Warrants outstanding">32,352</span> prefunded warrants (the “May 2025 Prefunded Warrants”) at $<span id="xdx_901_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20250531__us-gaap--SubsidiarySaleOfStockAxis__custom--SharesIssuedForPrivatePlacementMember__us-gaap--ClassOfWarrantOrRightAxis__custom--May2025PrefundedWarrantsMember_zqqZtbSYslg3" title="Warrants price per share">3.40</span> per warrant. The May 2025 Prefunded Warrants were immediately exercised, resulting in the issuance of <span id="xdx_905_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20250531__us-gaap--ClassOfWarrantOrRightAxis__custom--May2025PrefundedWarrantsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SharesIssuedForPrivatePlacementMember_zTzQJymtlRI3" title="Common stock issued by exercise of warrants">32,352</span> shares of Class A common stock. The Company collected in aggregate $<span id="xdx_908_eus-gaap--ProceedsFromIssuanceOfPrivatePlacement_c20250501__20250531__us-gaap--SubsidiarySaleOfStockAxis__custom--SharesIssuedForPrivatePlacementMember_zQ9G41BRYF5e" title="Proceeds from issuance of private placement">330,000</span> of gross proceeds from this private placement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 275000000 250000000 25000000 0.0001 The Class A Common Stock and Class B Common Stock entitle their holders to one vote per share and ten votes per share, respectively, on each matter properly submitted to the stockholders entitled to vote thereon. 2478587 2478587 2247473 2247473 231114 231114 819516 819516 588402 588402 231114 231114 75000000 0.0001 1 0 100000000 0.0001 10,000 shares or (ii) such amount as is equal to 100% of the average daily volume traded of the Class A common stock during the five trading days immediately prior to the date the Company requests each Advance 0.0999 0.95 0.96 0.1999 0.1999 0.0001 0.0001 500000 1420 5000 0.90 1000 The Floor Price shall be adjusted (downwards only) to equal 20% of the average VWAP for the five trading days immediately prior to the date of effectiveness of the initial Registration Statement. 0.75 1000 501000 4257000 221000 763680 415000 169000 738630 8608000 30489 48000 15000 232500 40000 3000 49800 33777 33777 43674 43674 89820 1661677 104882 31884 6.90 32352 3.40 32352 330000 <p id="xdx_80E_eus-gaap--DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_zBzoGis9VRk2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>17. <span id="xdx_827_zQwTyqIeZU58">Stock-Based Compensation</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During 2023, the Company adopted the 2023 Employee Stock Purchase Plan (the “Purchase Plan”). The Purchase Plan permits eligible employees of the Company and certain designated companies as determined by the Board of Directors, to purchase shares of the Company’s Common Stock. <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationDescriptionAndTerms_c20230101__20231231__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyThreeEquityEmployeeStockPurchaseMember_zabeqeQskE2f" title="Equity incentive plan, description">The aggregate number of shares of common stock that may be purchased pursuant to the Purchase Plan is equal to 2% of the fully diluted common stock determined at the Close of the Merger Agreement, determined to be <span id="xdx_907_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_c20231231__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyThreeEquityEmployeeStockPurchaseMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zcE3y6zfHLh8" title="Common stock reserved for future issuance">1,144</span>. In addition, the aggregate number of shares of common stock that remain available to be awarded under the Purchase Plan, will automatically increase on January 1 of each year for a period of 10 years commencing on January 1, 2024 and ending on <span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardExpirationDate_dd_c20230101__20231231__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyThreeEquityEmployeeStockPurchaseMember_zV6WXsLJzwg3" title="Expiration date">January 1, 2033</span>, in an amount equal to the lesser of one percent (1%) of the total number of shares of the fully diluted common stock determined as of December 31 of the preceding year, or a number of shares of common stock equal to two hundred percent (200%) of the initial share reserve of <span id="xdx_90A_ecustom--InitialShareReserve_iI_c20231231__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyThreeEquityEmployeeStockPurchaseMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zGhdvuVZSlFh" title="Initial share reserve">1,144</span>.</span> As of June 30, 2025 and December 31, 2024, <span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_c20250630__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyThreeEquityEmployeeStockPurchaseMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zOgAClKRwFvc" title="Stock options awarded">26,039</span> and <span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_c20241231__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyThreeEquityEmployeeStockPurchaseMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zovhLbYduDF1" title="Stock options awarded">1,156</span> shares of common stock remain available to be purchased under the Purchase Plan, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During 2023, the Company adopted the 2023 Equity Incentive Plan (the “Plan”). The Plan permits the granting of incentive stock options, nonstatutory stock options, SARs, restricted stock awards, RSU awards, performance awards, and other awards. to employees, directors, and consultants. <span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationDescriptionAndTerms_c20230101__20231231__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyThreeEquityIncentivePlanMember_z8RWa14IZoSd" title="Equity incentive plan, description">The aggregate number of shares of common stock that may be issued will not exceed approximately 12.5% of the fully diluted common stock determined at the Close of the Merger, determined to be approximately <span id="xdx_90F_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_c20231231__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyThreeEquityIncentivePlanMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zDXkN8qRN3Te" title="Common stock reserved for future issuance">7,152</span>. In addition, the aggregate number of shares of common stock that remain available to be awarded under the Plan, will automatically increase on January 1 of each year for a period of <span id="xdx_904_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod_c20230101__20231231__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyThreeEquityIncentivePlanMember_zEqg6AUyi6vb" title="Expiration period">ten years</span> commencing on January 1, 2024 and ending on January 1, 2033, in an amount equal to 5% of the total number of shares of the fully diluted common stock determined as of the day prior to such increase.</span> As of June 30, 2025 and December 31, 2024, <span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_c20250630__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyThreeEquityIncentivePlanMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zIJblxHn9SQf" title="Stock options awarded">695,748</span> and <span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_c20241231__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyThreeEquityIncentivePlanMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zUVHIcD0wn14" title="Stock options awarded">232</span> stock options remain available to be awarded under the Plan, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company accounts for stock-based payments pursuant to ASC 718 <i>Stock Compensation</i> and, accordingly, the Company records compensation expense for stock-based awards based upon an assessment of the grant date fair value for options using the Black-Scholes option pricing model. The Company has concluded that its historical share option exercise experience does not provide a reasonable basis upon which to estimate expected term. Therefore, the expected term was determined according to the simplified method, which is the average of the vesting tranche dates and the contractual term. Due to the lack of company specific historical and implied volatility data, the estimate of expected volatility is primarily based on the historical volatility of a group of similar companies that are publicly traded. For these analyses, companies with comparable characteristics were selected, including enterprise value and position within the industry, and with historical share price information sufficient to meet the expected life of the share-based awards. The Company computes the historical volatility data using the daily closing prices for the selected companies’ shares during the equivalent periods of the calculated expected term of its share-based awards. The risk-free interest rate is determined by reference to the U.S. Treasury zero-coupon issues with remaining maturities similar to the expected term of the options. Expected dividend yield is zero based on the fact that the Company has never paid cash dividends and does not expect to pay any cash dividends in the foreseeable future.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p id="xdx_898_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zBvwSP58ctm7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes assumptions used to compute the fair value of options granted:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B2_zjFwmYtGoQWl" style="display: none">Summary of Assumptions Used to Compute Fair Value</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2024</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif">Stock price</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$<span id="xdx_90D_eus-gaap--SharePrice_iI_pid_c20250630__srt--RangeAxis__srt--MinimumMember_zM3kkKKMNpS5" title="Stock price">14</span>-<span id="xdx_905_eus-gaap--SharePrice_iI_pid_c20250630__srt--RangeAxis__srt--MaximumMember_zzw5jJ2O0lv3" title="Stock price">5,990</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$<span id="xdx_908_eus-gaap--SharePrice_iI_pid_c20240630__srt--RangeAxis__srt--MinimumMember_zp1MED3dmEu7" title="Stock price">145</span> - <span id="xdx_909_eus-gaap--SharePrice_iI_pid_c20240630__srt--RangeAxis__srt--MaximumMember_zAbiEH5k7zDa" title="Stock price">305</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Exercise price</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$<span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_pid_c20250630__srt--RangeAxis__srt--MinimumMember_z3xgd3hqEVk2" title="Exercise price">14</span>-<span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_pid_c20250630__srt--RangeAxis__srt--MaximumMember_zYovddoaH6Gb" title="Exercise price">5,990</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$<span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_pid_c20240630__srt--RangeAxis__srt--MinimumMember_zFgNYslI3skk" title="Exercise price">145</span> - <span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_pid_c20240630__srt--RangeAxis__srt--MaximumMember_zV6S42IC88e3" title="Exercise price">2,500</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Expected volatility</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20250101__20250630_zsUUanx4uWVd" title="Expected volatility">110.95</span></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20240101__20240630__srt--RangeAxis__srt--MinimumMember_zaWvSNzMudil" title="Expected volatility">75.00</span> - <span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20240101__20240630__srt--RangeAxis__srt--MaximumMember_zTUoEMDnWecg" title="Expected volatility">85.00</span>%</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Expected term (in years)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_pid_dtY_c20250101__20250630_zpeNehSWHHL8" title="Expected term (in years)">10</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_pid_dtY_c20240101__20240630__srt--RangeAxis__srt--MinimumMember_z19wQ5pX8pUk" title="Expected term (in years)">5.75</span> - <span id="xdx_90E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_pid_dtY_c20240101__20240630__srt--RangeAxis__srt--MaximumMember_z07A5EybNZLf" title="Expected term (in years)">10.00</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Risk-free interest rate</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20250101__20250630_zC6hKUxpB8db" title="Risk-free interest rate">4.45</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20240101__20240630__srt--RangeAxis__srt--MinimumMember_zoyXNmrr7rZi" title="Risk-free interest rate">4.20</span> - <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20240101__20240630__srt--RangeAxis__srt--MaximumMember_z8s4nR3WG4N3" title="Risk-free interest rate">4.50</span>%</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p id="xdx_8AC_zEBjdcPUF529" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_898_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_zscfjqRic2Fd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of stock option activity under the Plan is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B5_zRn4D2WFMmUh" style="display: none">Summary of Stock Option Activity</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Shares Underlying Options</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Weighted Average Exercise <br/> Price</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Weighted Average Remaining Contractual Term <br/> (in years)</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Intrinsic <br/> Value</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Outstanding at December 31, 2024</span></td><td style="width: 2%; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionOutstandingNumber_iS_c20250101__20250630_zAGs9zRLZEGd" style="border-bottom: Black 1pt solid; width: 11%; text-align: right" title="Shares Underlying Options, Beginning balanceShares Underlying Options, Beginning balance"><span style="font-family: Times New Roman, Times, Serif">2,566</span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_984_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionOutstandingWeightedAverageExercisePrice_iS_pid_c20250101__20250630_zO3jQqR87BVh" style="border-bottom: Black 1pt solid; width: 11%; text-align: right" title="Weighted Average Exercise Price, Beginning BalanceWeighted Average Exercise Price, Beginning Balance"><span style="font-family: Times New Roman, Times, Serif">1,618.30</span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_906_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240101__20241231_zOxnMrtF0ZK2" title="Weighted Average Remaining Contractual Term (in years), Outstanding">8.52</span></span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_c20250101__20250630_zXElXjCGKzf7" style="border-bottom: Black 1pt solid; width: 11%; text-align: right" title="Intrinsic Value, Outstanding, Beginning balance"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl2945">—</span></span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Granted</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20250101__20250630_zAFyoSIT66Q" style="text-align: right" title="Shares Underlying Options, Granted"><span style="font-family: Times New Roman, Times, Serif">10,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20250101__20250630_zdB8FkfOB4Qe" style="text-align: right" title="Weighted Average Exercise Price, Granted"><span style="font-family: Times New Roman, Times, Serif">210.45</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantedWeightedAverageRemainingContractualTerm_dtY_c20250101__20250630_z3NmZCJh1sD4" style="text-align: right" title="Weighted Average Remaining Contractual Term (in years), Granted"><span style="font-family: Times New Roman, Times, Serif">9.37</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">—</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Forfeited</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_di_c20250101__20250630_znp9KenYuTe9" style="border-bottom: Black 1pt solid; text-align: right" title="Shares Underlying Options, Forfeited"><span style="font-family: Times New Roman, Times, Serif">(24</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_c20250101__20250630_znrhlHyZ7e3a" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price, Forfeited"><span style="font-family: Times New Roman, Times, Serif">1,888.29</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">—</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">—</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Outstanding at June 30, 2025</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_987_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionOutstandingNumber_iE_c20250101__20250630_zaAIZvFXF3ya" style="border-bottom: Black 1pt solid; text-align: right" title="Shares Underlying Options, Ending balance"><span style="font-family: Times New Roman, Times, Serif">12,542</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_98B_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionOutstandingWeightedAverageExercisePrice_iE_pid_c20250101__20250630_zfxNWamggV13" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price, Ending Balance"><span style="font-family: Times New Roman, Times, Serif">341.57</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_982_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20250101__20250630_zkuUQ38JJuwg" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Remaining Contractual Term (in years), Outstanding"><span style="font-family: Times New Roman, Times, Serif">9.16</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_c20250101__20250630_zN6uqhBZ4I7k" style="border-bottom: Black 1pt solid; text-align: right" title="Intrinsic Value, Outstanding, Ending balance"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl2963">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Exercisable at June 30, 2025</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_c20250630_zaRmLS0Vj5dh" style="border-bottom: Black 2.5pt double; text-align: right" title="Shares Underlying Options, Exercisable"><span style="font-family: Times New Roman, Times, Serif">1,146</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_pid_c20250630_zJXXeg3Nu474" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Exercise Price, Exercisable"><span style="font-family: Times New Roman, Times, Serif">1,646.28</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_986_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20250101__20250630_zsIWlzhH3a4b" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Remaining Contractual Term (in years), Exercisable"><span style="font-family: Times New Roman, Times, Serif">7.01</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_98C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iE_c20250101__20250630_z9pRK6WxLyg5" style="border-bottom: Black 2.5pt double; text-align: right" title="Intrinsic Value, Exercisable"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl2971">—</span></span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p id="xdx_8A6_zQc9e56gYu1j" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In connection with issuances under the Plan, the Company recorded stock-based compensation expense related to stock options of $<span id="xdx_90C_eus-gaap--AllocatedShareBasedCompensationExpense_c20250101__20250630__us-gaap--IncomeStatementLocationAxis__us-gaap--GeneralAndAdministrativeExpenseMember_zP010M2kYE7e" title="Stock-based compensation expense">50,052</span> and $<span id="xdx_905_eus-gaap--AllocatedShareBasedCompensationExpense_c20240101__20240630__us-gaap--IncomeStatementLocationAxis__us-gaap--GeneralAndAdministrativeExpenseMember_z3vlZJhDTYLl" title="Stock-based compensation expense">37,311</span>, which is included in general and administrative expense for the six months ended June 30, 2025 and 2024, respectively. The weighted-average grant-date fair value per option granted during the six months ended June 30, 2025 and 2024 was $<span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20250101__20250630_zyNtNDFbKX66" title="Weighted average grant date fair value">12</span> and $<span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20240101__20240630_zBDkrPaErqol" title="Weighted average grant date fair value">85</span>, respectively. As of June 30, 2025 and 2024, $<span id="xdx_903_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions_iI_c20250630_zFTW8WD14RL1" title="Unrecognized compensation expense related to unvested options">270,624</span> and $<span id="xdx_900_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions_iI_c20240630_zchsPM0y0ag2" title="Unrecognized compensation expense related to unvested options">1,262,655</span> of unrecognized compensation expense related to non-vested awards is expected to be recognized over the weighted average period of <span id="xdx_902_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20250101__20250630_zTD4tga64WG9" title="Unrecognized compensation expense related to unvested options">9.37</span> and <span id="xdx_903_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20240101__20240630_zdCkKQNeBF4e" title="Unrecognized compensation expense related to unvested options">3.8</span> years, respectively. The aggregate intrinsic value is calculated as the difference between the fair value of the Company’s stock price and the exercise price of the options.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>RSUs</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2024, the Company began issuing RSUs to employees and to non-employee directors. Each RSU entitles the recipient to one share of Class A Common Stock upon vesting. The Company measures the fair value of RSUs using the stock price on the date of grant. Stock-based compensation expense for employee-granted RSUs is recorded ratably over their vesting period of (a) <span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_dc_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zSt0Q3VJwlij" title="Vesting period">four years</span> - <span id="xdx_900_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage_pid_dp_uPure_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zdhgxkqlWHI5" title="Percentage of vesting on each anniversary">25</span>% of the RSUs will vest on each anniversary, or (b) one year - will vest quarterly, of the vesting commencement date until the RSU is fully vested. Stock-based compensation expense for non-employee director-granted RSUs is recorded ratably over their vesting period which is the earlier to occur of the one (1) year anniversary of the respective grant date, or the next annual meeting of stockholders following the respective grant date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89B_eus-gaap--ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_zZFl79H4lbPk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of the activity with respect to, and status of, RSUs during the six months ended June 30, 2025 is presented below:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BF_zFaWbvKEZ3Yk" style="display: none">Summary of Activity with Respect Status of, RSUs</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Units</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Weighted <br/> Average Grant <br/> Date Fair <br/> Value</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%"><span style="font-family: Times New Roman, Times, Serif">Outstanding at December 31, 2024</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zY2LtVYwWXc6" style="width: 16%; text-align: right" title="Units, Outstanding Beginning Balance"><span style="font-family: Times New Roman, Times, Serif">34,078</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zeNUvF6RdE0f" style="width: 16%; text-align: right" title="Weighted Average Grant Date Fair Value, Beginning balance Outstanding"><span style="font-family: Times New Roman, Times, Serif">17.40</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Granted</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zl1HYMoXgY9h" style="text-align: right" title="Granted"><span style="font-family: Times New Roman, Times, Serif">260,475</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z2qU8jakYUua" style="text-align: right" title="Weighted Average Grant Date Fair Value, Granted"><span style="font-family: Times New Roman, Times, Serif">12.05</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif">Exercised</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98C_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisedInPeriod_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_za8hA17pETde" style="text-align: right" title="Exercised"><span style="font-family: Times New Roman, Times, Serif">(77,452</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98B_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisedWeightedAverageGrantDateFairValue_pid_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zem8iLHs0OEj" style="text-align: right" title="Weighted Average Grant Date Fair Value, Exercised"><span style="font-family: Times New Roman, Times, Serif">14.31</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Forfeited</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_di_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zycPcczNhuxd" style="border-bottom: Black 1pt solid; text-align: right" title="Forfeited"><span style="font-family: Times New Roman, Times, Serif">(706</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zehj0ouUnNbg" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Grant Date Fair Value, Forfeited"><span style="font-family: Times New Roman, Times, Serif">15.39</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Outstanding at June 30, 2025</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zXAWfWKRXBbl" style="border-bottom: Black 2.5pt double; text-align: right" title="Units, Outstanding Ending Balance"><span style="font-family: Times New Roman, Times, Serif">216,396</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zzaJbDShe9Q4" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Grant Date Fair Value, Ending Balance Outstanding"><span style="font-family: Times New Roman, Times, Serif">13.05</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p id="xdx_8AE_zSgZOZLnWn39" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the six months ended June 30, 2025 and June 30, 2024, the Company recorded stock-based compensation expense related to RSUs of $<span id="xdx_909_eus-gaap--AllocatedShareBasedCompensationExpense_c20250101__20250630__us-gaap--IncomeStatementLocationAxis__us-gaap--GeneralAndAdministrativeExpenseMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zrwSs6Lrl8r6" title="Stock-based compensation expense">1,042,639</span> and $<span id="xdx_901_eus-gaap--AllocatedShareBasedCompensationExpense_c20240101__20240630__us-gaap--IncomeStatementLocationAxis__us-gaap--GeneralAndAdministrativeExpenseMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zVGpUU93o1Ic" title="Stock-based compensation expense">208,178</span>, respectively, which is included in general and administrative expense. As of June 30, 2025 and 2024, unrecognized compensation cost related to the grant of RSUs was $<span id="xdx_905_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions_iI_c20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zgnvWqEYx26f" title="Unrecognized compensation cost">2,335,545</span> and $<span id="xdx_907_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions_iI_c20240630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zULjEd3gf2f5" title="Unrecognized compensation cost">263,144</span>, respectively. Unvested outstanding RSUs as of June 30, 2025 and 2024 had a weighted average remaining vesting period of <span id="xdx_90B_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zhselUiqLLrb" title="Period for unrecognized compensation expense related to unvested options yet has not been recognized">1.96</span> and <span id="xdx_902_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20240101__20240630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zpGago1GPjtf" title="Period for unrecognized compensation expense related to unvested options yet has not been recognized">1.3</span> years, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> The aggregate number of shares of common stock that may be purchased pursuant to the Purchase Plan is equal to 2% of the fully diluted common stock determined at the Close of the Merger Agreement, determined to be 1,144. In addition, the aggregate number of shares of common stock that remain available to be awarded under the Purchase Plan, will automatically increase on January 1 of each year for a period of 10 years commencing on January 1, 2024 and ending on January 1, 2033, in an amount equal to the lesser of one percent (1%) of the total number of shares of the fully diluted common stock determined as of December 31 of the preceding year, or a number of shares of common stock equal to two hundred percent (200%) of the initial share reserve of 1,144. 1144 2033-01-01 1144 26039 1156 The aggregate number of shares of common stock that may be issued will not exceed approximately 12.5% of the fully diluted common stock determined at the Close of the Merger, determined to be approximately 7,152. In addition, the aggregate number of shares of common stock that remain available to be awarded under the Plan, will automatically increase on January 1 of each year for a period of ten years commencing on January 1, 2024 and ending on January 1, 2033, in an amount equal to 5% of the total number of shares of the fully diluted common stock determined as of the day prior to such increase. 7152 P10Y 695748 232 <p id="xdx_898_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zBvwSP58ctm7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes assumptions used to compute the fair value of options granted:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B2_zjFwmYtGoQWl" style="display: none">Summary of Assumptions Used to Compute Fair Value</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2024</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif">Stock price</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$<span id="xdx_90D_eus-gaap--SharePrice_iI_pid_c20250630__srt--RangeAxis__srt--MinimumMember_zM3kkKKMNpS5" title="Stock price">14</span>-<span id="xdx_905_eus-gaap--SharePrice_iI_pid_c20250630__srt--RangeAxis__srt--MaximumMember_zzw5jJ2O0lv3" title="Stock price">5,990</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$<span id="xdx_908_eus-gaap--SharePrice_iI_pid_c20240630__srt--RangeAxis__srt--MinimumMember_zp1MED3dmEu7" title="Stock price">145</span> - <span id="xdx_909_eus-gaap--SharePrice_iI_pid_c20240630__srt--RangeAxis__srt--MaximumMember_zAbiEH5k7zDa" title="Stock price">305</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Exercise price</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$<span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_pid_c20250630__srt--RangeAxis__srt--MinimumMember_z3xgd3hqEVk2" title="Exercise price">14</span>-<span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_pid_c20250630__srt--RangeAxis__srt--MaximumMember_zYovddoaH6Gb" title="Exercise price">5,990</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$<span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_pid_c20240630__srt--RangeAxis__srt--MinimumMember_zFgNYslI3skk" title="Exercise price">145</span> - <span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_pid_c20240630__srt--RangeAxis__srt--MaximumMember_zV6S42IC88e3" title="Exercise price">2,500</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Expected volatility</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20250101__20250630_zsUUanx4uWVd" title="Expected volatility">110.95</span></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20240101__20240630__srt--RangeAxis__srt--MinimumMember_zaWvSNzMudil" title="Expected volatility">75.00</span> - <span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20240101__20240630__srt--RangeAxis__srt--MaximumMember_zTUoEMDnWecg" title="Expected volatility">85.00</span>%</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Expected term (in years)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_pid_dtY_c20250101__20250630_zpeNehSWHHL8" title="Expected term (in years)">10</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_pid_dtY_c20240101__20240630__srt--RangeAxis__srt--MinimumMember_z19wQ5pX8pUk" title="Expected term (in years)">5.75</span> - <span id="xdx_90E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_pid_dtY_c20240101__20240630__srt--RangeAxis__srt--MaximumMember_z07A5EybNZLf" title="Expected term (in years)">10.00</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Risk-free interest rate</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20250101__20250630_zC6hKUxpB8db" title="Risk-free interest rate">4.45</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20240101__20240630__srt--RangeAxis__srt--MinimumMember_zoyXNmrr7rZi" title="Risk-free interest rate">4.20</span> - <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20240101__20240630__srt--RangeAxis__srt--MaximumMember_z8s4nR3WG4N3" title="Risk-free interest rate">4.50</span>%</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> 14 5990 145 305 14 5990 145 2500 1.1095 0.7500 0.8500 P10Y P5Y9M P10Y 0.0445 0.0420 0.0450 <p id="xdx_898_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_zscfjqRic2Fd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of stock option activity under the Plan is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B5_zRn4D2WFMmUh" style="display: none">Summary of Stock Option Activity</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Shares Underlying Options</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Weighted Average Exercise <br/> Price</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Weighted Average Remaining Contractual Term <br/> (in years)</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Intrinsic <br/> Value</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Outstanding at December 31, 2024</span></td><td style="width: 2%; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionOutstandingNumber_iS_c20250101__20250630_zAGs9zRLZEGd" style="border-bottom: Black 1pt solid; width: 11%; text-align: right" title="Shares Underlying Options, Beginning balanceShares Underlying Options, Beginning balance"><span style="font-family: Times New Roman, Times, Serif">2,566</span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_984_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionOutstandingWeightedAverageExercisePrice_iS_pid_c20250101__20250630_zO3jQqR87BVh" style="border-bottom: Black 1pt solid; width: 11%; text-align: right" title="Weighted Average Exercise Price, Beginning BalanceWeighted Average Exercise Price, Beginning Balance"><span style="font-family: Times New Roman, Times, Serif">1,618.30</span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_906_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240101__20241231_zOxnMrtF0ZK2" title="Weighted Average Remaining Contractual Term (in years), Outstanding">8.52</span></span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_c20250101__20250630_zXElXjCGKzf7" style="border-bottom: Black 1pt solid; width: 11%; text-align: right" title="Intrinsic Value, Outstanding, Beginning balance"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl2945">—</span></span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Granted</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20250101__20250630_zAFyoSIT66Q" style="text-align: right" title="Shares Underlying Options, Granted"><span style="font-family: Times New Roman, Times, Serif">10,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20250101__20250630_zdB8FkfOB4Qe" style="text-align: right" title="Weighted Average Exercise Price, Granted"><span style="font-family: Times New Roman, Times, Serif">210.45</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantedWeightedAverageRemainingContractualTerm_dtY_c20250101__20250630_z3NmZCJh1sD4" style="text-align: right" title="Weighted Average Remaining Contractual Term (in years), Granted"><span style="font-family: Times New Roman, Times, Serif">9.37</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">—</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Forfeited</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_di_c20250101__20250630_znp9KenYuTe9" style="border-bottom: Black 1pt solid; text-align: right" title="Shares Underlying Options, Forfeited"><span style="font-family: Times New Roman, Times, Serif">(24</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_c20250101__20250630_znrhlHyZ7e3a" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price, Forfeited"><span style="font-family: Times New Roman, Times, Serif">1,888.29</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">—</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">—</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Outstanding at June 30, 2025</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_987_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionOutstandingNumber_iE_c20250101__20250630_zaAIZvFXF3ya" style="border-bottom: Black 1pt solid; text-align: right" title="Shares Underlying Options, Ending balance"><span style="font-family: Times New Roman, Times, Serif">12,542</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_98B_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionOutstandingWeightedAverageExercisePrice_iE_pid_c20250101__20250630_zfxNWamggV13" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price, Ending Balance"><span style="font-family: Times New Roman, Times, Serif">341.57</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_982_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20250101__20250630_zkuUQ38JJuwg" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Remaining Contractual Term (in years), Outstanding"><span style="font-family: Times New Roman, Times, Serif">9.16</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_c20250101__20250630_zN6uqhBZ4I7k" style="border-bottom: Black 1pt solid; text-align: right" title="Intrinsic Value, Outstanding, Ending balance"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl2963">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Exercisable at June 30, 2025</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_c20250630_zaRmLS0Vj5dh" style="border-bottom: Black 2.5pt double; text-align: right" title="Shares Underlying Options, Exercisable"><span style="font-family: Times New Roman, Times, Serif">1,146</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_pid_c20250630_zJXXeg3Nu474" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Exercise Price, Exercisable"><span style="font-family: Times New Roman, Times, Serif">1,646.28</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_986_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20250101__20250630_zsIWlzhH3a4b" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Remaining Contractual Term (in years), Exercisable"><span style="font-family: Times New Roman, Times, Serif">7.01</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_98C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iE_c20250101__20250630_z9pRK6WxLyg5" style="border-bottom: Black 2.5pt double; text-align: right" title="Intrinsic Value, Exercisable"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl2971">—</span></span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> 2566 1618.30 P8Y6M7D 10000 210.45 P9Y4M13D 24 1888.29 12542 341.57 P9Y1M28D 1146 1646.28 P7Y3D 50052 37311 12 85 270624 1262655 P9Y4M13D P3Y9M18D P4Y 0.25 <p id="xdx_89B_eus-gaap--ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_zZFl79H4lbPk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of the activity with respect to, and status of, RSUs during the six months ended June 30, 2025 is presented below:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BF_zFaWbvKEZ3Yk" style="display: none">Summary of Activity with Respect Status of, RSUs</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Units</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Weighted <br/> Average Grant <br/> Date Fair <br/> Value</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%"><span style="font-family: Times New Roman, Times, Serif">Outstanding at December 31, 2024</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zY2LtVYwWXc6" style="width: 16%; text-align: right" title="Units, Outstanding Beginning Balance"><span style="font-family: Times New Roman, Times, Serif">34,078</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zeNUvF6RdE0f" style="width: 16%; text-align: right" title="Weighted Average Grant Date Fair Value, Beginning balance Outstanding"><span style="font-family: Times New Roman, Times, Serif">17.40</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Granted</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zl1HYMoXgY9h" style="text-align: right" title="Granted"><span style="font-family: Times New Roman, Times, Serif">260,475</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z2qU8jakYUua" style="text-align: right" title="Weighted Average Grant Date Fair Value, Granted"><span style="font-family: Times New Roman, Times, Serif">12.05</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif">Exercised</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98C_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisedInPeriod_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_za8hA17pETde" style="text-align: right" title="Exercised"><span style="font-family: Times New Roman, Times, Serif">(77,452</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98B_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisedWeightedAverageGrantDateFairValue_pid_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zem8iLHs0OEj" style="text-align: right" title="Weighted Average Grant Date Fair Value, Exercised"><span style="font-family: Times New Roman, Times, Serif">14.31</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Forfeited</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_di_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zycPcczNhuxd" style="border-bottom: Black 1pt solid; text-align: right" title="Forfeited"><span style="font-family: Times New Roman, Times, Serif">(706</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zehj0ouUnNbg" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Grant Date Fair Value, Forfeited"><span style="font-family: Times New Roman, Times, Serif">15.39</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Outstanding at June 30, 2025</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zXAWfWKRXBbl" style="border-bottom: Black 2.5pt double; text-align: right" title="Units, Outstanding Ending Balance"><span style="font-family: Times New Roman, Times, Serif">216,396</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zzaJbDShe9Q4" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Grant Date Fair Value, Ending Balance Outstanding"><span style="font-family: Times New Roman, Times, Serif">13.05</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> 34078 17.40 260475 12.05 -77452 14.31 706 15.39 216396 13.05 1042639 208178 2335545 263144 P1Y11M15D P1Y3M18D <p id="xdx_802_eus-gaap--IncomeTaxDisclosureTextBlock_z9OqcZjlriKh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">18. <span id="xdx_82A_zVLnyZ1cgSR8">Income Taxes</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company estimates an annual effective tax rate of <span id="xdx_901_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_pid_dp_uPure_c20250101__20251231__srt--StatementGeographicalAxis__country--US_z3XftU2XEOL5" title="Effective tax rate, percentage">0</span>% in relation to its US operations for the year ended December 31, 2025. The worldwide effective tax rate for the three months ended June 30, 2025 is <span id="xdx_909_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_pid_dp_uPure_c20250401__20250630__srt--StatementGeographicalAxis__custom--WorldwideMember_zchxNprYisU2" title="Effective tax rate, percentage">2.88</span>%. The effective tax rate is due to the Company’s operations in England and Wales derived by the Vidello Merger. The Vidello operations in England and Wales are subject to a statutory corporate tax rate of <span id="xdx_902_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_c20250101__20250630__us-gaap--BusinessAcquisitionAxis__custom--VidelloLimitedMember_zvIVcnXNL5Jd" title="Statutory federal income tax benefit, percentage">25</span>%. For the three months ended June 30, 2025, the Company is not using an estimated annual effective tax rate methodology in relation to the Vidello operations. Due to the Company’s history of net losses from historical operations in the US, there is no income tax benefit being recorded in relation to the Company’s pre-tax book loss in the US taxing jurisdiction. Therefore, no US federal or state income taxes are expected, and none have been recorded at this time. Income taxes have been accounted for using the liability method in accordance with FASB ASC 740.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Due to the Company’s history of losses since inception, there is not enough evidence at this time to support that the Company will generate future income of a sufficient amount and nature to utilize the benefits of its net deferred tax assets in the US taxing jurisdiction. Accordingly, the deferred tax assets in the US taxing jurisdiction have been reduced by a full valuation allowance, since the Company cannot currently support that realization of its deferred tax assets is more likely than not.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At June 30, 2025, the Company had <span id="xdx_90F_eus-gaap--UnrecognizedTaxBenefits_iI_do_c20250630_zZSqc6ID4GJe" title="Uncertain tax benefits">no</span> unrecognized tax benefits that would reduce the Company’s effective tax rate if recognized.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 0 0.0288 0.25 0 <p id="xdx_809_eus-gaap--SegmentReportingDisclosureTextBlock_zFaqSTNLevQ5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>19. <span id="xdx_82B_zxUr6dLldG94">Segment Reporting</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has <span id="xdx_907_eus-gaap--NumberOfReportableSegments_dc_uInteger_c20250101__20250630_zhflzJVBoNY" title="Number of reportable segments"><span id="xdx_906_eus-gaap--NumberOfOperatingSegments_dc_uInteger_c20250101__20250630_z9f9D9vFamza" title="Number of operating segments">three</span></span> reportable operating segments, Banzai Operating Co, Inc., Banzai Reel Acquisition Inc. (OpenReel), and Vidello Limited (Vidello). The Company’s segments deliver SaaS tools that leverage data, analytics, and AI to provide marketing and sales solutions, including video production and editing, for businesses of all sizes.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our Chief Executive Officer, who serves as the Company’s chief operating decision maker (“CODM”), primarily uses segment revenue, gross profit, and adjusted EBITDA to allocate resources and assess performance. <span id="xdx_908_eus-gaap--SegmentReportingCodmProfitLossMeasureHowUsedDescription_c20250101__20250630_znyXQlCudFEd" title="Segment reporting, codm, profit (loss) measure, how used, description">Segment revenue and gross profit are determined on the same basis as consolidated revenue and consolidated gross profit as shown in the Company’s consolidated statements of operations. Segment adjusted EBITDA is defined as revenue less the following expenses associated with each segment: cost of revenue, people, marketing and advertising, technology, and other segment expenses. Segment adjusted EBITDA excludes certain non-cash items or items that management does not consider reflective of ongoing core operations.</span> Currently, the CODM does not review assets in evaluating the results of the operating segments, and therefore, such information is not presented.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_894_eus-gaap--ScheduleOfSegmentReportingInformationBySegmentTextBlock_zngp0NcCZ907" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The tables below present information about reported segments for the three and six months ending June 30, 2025:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BA_ztvhBiDc6oCj" style="display: none">Summary of Information About Reported Segments</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Three months ended June 30, 2025</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_494_20250401__20250630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--BanzaiOperatingMember_zFDrcBTMKyG5"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49E_20250401__20250630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--OpenReelMember_zAlMzoDcBKvi"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_491_20250401__20250630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--VidelloLimitedMember_zj0zMkLWQqZj"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_492_20250401__20250630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zxXDgPMLdP1g"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Banzai Operating</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">OpenReel</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Vidello</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Total Consolidated</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_402_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_maGPzwrB_znLvRVomYtL2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%"><span style="font-family: Times New Roman, Times, Serif">Revenue</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,146,546</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,386,938</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">728,766</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,262,250</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_400_eus-gaap--CostOfRevenue_msGPzwrB_zXaDHxuoC9j" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Cost of revenue</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">368,473</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">77,694</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">108,348</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">554,515</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_404_eus-gaap--GrossProfit_iT_mtGPzwrB_zcp7gE7AptL6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Gross profit</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">778,073</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,309,244</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">620,418</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,707,735</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_407_eus-gaap--OperatingExpensesAbstract_iB_z4S4IXKdOlVe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif">Expenses</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_405_eus-gaap--LaborAndRelatedExpense_i01_maOEz7gr_z5Zlz5KQHSih" style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">People</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,666,047</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">40</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3069">-</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,666,087</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_eus-gaap--MarketingAndAdvertisingExpense_i01_maOEz7gr_z4yl3iVNbWC" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Marketing and advertising</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">454,754</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">18,377</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">103,059</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">576,190</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40E_eus-gaap--CommunicationsAndInformationTechnology_i01_maOEz7gr_z4j9Bmurxzb5" style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Technology</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">254,213</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">551,381</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">27,377</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">832,971</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_405_eus-gaap--OtherExpenses_i01_maOEz7gr_zkNhANLKc4Je" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Other segment expenses<span id="xdx_F46_zY37nNlBnV44">1</span></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,027,031</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">26,906</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">73,022</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,126,959</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_408_eus-gaap--OperatingExpenses_i01T_mtOEz7gr_z6hLDlJUU2Y8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Total expenses</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,402,045</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">596,704</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">203,458</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,202,207</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40A_ecustom--AdjustedEBITDAFromContinuingOperations_maEBITDz6SM_zscLyCIgQgAf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Adjusted EBITDA</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(2,623,972</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">712,540</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">416,960</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(1,494,472</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_400_ecustom--OperatingCostsExpensesAndStockBasedCompensation_msEBITDz6SM_zbYpYigwwO9e" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Transaction, PubCo. Expenses and Stock-based compensation</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,891,939</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">18,657</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3099">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,910,596</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40F_ecustom--EarningsBeforeInterestTaxesDepreciationAndAmortisation_iT_mtEBITDz6SM_zGgrN1HVbxIh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">EBITDA</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(5,515,911</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">693,883</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">416,960</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(4,405,068</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Six months ended June 30, 2025</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49D_20250101__20250630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--BanzaiOperatingMember_zTUx8AiSi8tf"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_493_20250101__20250630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--OpenReelMember_zcksuseWtzQ7"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49A_20250101__20250630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--VidelloLimitedMember_z8B43Q0jPY2"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_490_20250101__20250630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zY67JET61umh"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Banzai<br/> Operating</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">OpenReel</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Vidello</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Total<br/> Consolidated</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_402_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_maGPzwrB_zl2mUiMyJdLl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%"><span style="font-family: Times New Roman, Times, Serif">Revenue</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,306,292</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,828,481</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,506,560</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">6,641,333</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_400_eus-gaap--CostOfRevenue_msGPzwrB_znftpn2eziQi" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Cost of revenue</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">745,071</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">152,502</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">262,941</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,160,514</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_404_eus-gaap--GrossProfit_iT_mtGPzwrB_zZQjO1pShVl1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Gross profit</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,561,221</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,675,979</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,243,619</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">5,480,819</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_407_eus-gaap--OperatingExpensesAbstract_iB_zfJ6qbRlhV38" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif">Expenses</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_405_eus-gaap--LaborAndRelatedExpense_i01_maOEz7gr_zbRt000A112f" style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">People</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,869,793</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">89,888</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3129">-</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,959,681</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_eus-gaap--MarketingAndAdvertisingExpense_i01_maOEz7gr_zXXVAp6obp7h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Marketing and advertising</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,249,850</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">57,494</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">278,351</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,585,695</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40E_eus-gaap--CommunicationsAndInformationTechnology_i01_maOEz7gr_zqCC5dF1HxB8" style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Technology</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">530,621</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,070,261</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">51,573</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,652,455</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_405_eus-gaap--OtherExpenses_i01_maOEz7gr_zjPNagqUyZMb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Other segment expenses<span id="xdx_F41_zuE23KLycsTe">1</span></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,696,159</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">47,034</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">262,536</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,005,729</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_408_eus-gaap--OperatingExpenses_i01T_mtOEz7gr_zDT1aAbIaV38" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Total expenses</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">7,346,423</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,264,677</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">592,460</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">9,203,560</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40A_ecustom--AdjustedEBITDAFromContinuingOperations_maEBITDz6SM_zSwsWB7TOyFc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Adjusted EBITDA</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(5,785,202</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,411,302</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">651,159</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(3,722,741</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_400_ecustom--OperatingCostsExpensesAndStockBasedCompensation_msEBITDz6SM_zMTmXhzecVEg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Transaction, PubCo. Expenses and Stock-based compensation</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">5,021,849</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">320,482</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3159">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">5,342,331</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40F_ecustom--EarningsBeforeInterestTaxesDepreciationAndAmortisation_iT_mtEBITDz6SM_zpN2Fctazfk4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">EBITDA</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(10,807,051</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,090,820</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">651,159</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(9,065,072</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td id="xdx_F01_zj02KpfUU2lb" style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">¹</span></td><td style="width: 5pt"></td><td style="text-align: justify"><span id="xdx_F1A_zmFk8CPmyp6b" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other segment expenses for each reportable segment includes travel and entertainment expenses, professional expenses other than those included in transaction and PubCo. expenses, insurance expenses, and expenses related to licenses.</span></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The tables below present information about reported segments for the three and six months ending June 30, 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_499_20240401__20240630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--BanzaiOperatingMember_zoms4VlAsckk" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Banzai Operating</span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49B_20240401__20240630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--OpenReelMember_zPdUPyegDdb" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">OpenReel1</span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_495_20240401__20240630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--VidelloLimitedMember_z8NybccRskse" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Vidello<sup id="xdx_F5C_zzft7PsHCaSj">1</sup></span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_490_20240401__20240630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zmp7NtqfJnhi" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Total Consolidated</span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td colspan="17" style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Three months ended June 30, 2024</span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Banzai Operating</span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">OpenReel1</span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Vidello1</span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Total Consolidated</span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_402_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_maGPzwrB_z1CZrQwedq36" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%"><span style="font-family: Times New Roman, Times, Serif">Revenue</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,068,197</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3169">—</span></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3170">—</span></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,068,197</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_400_eus-gaap--CostOfRevenue_msGPzwrB_zocuKjpYWP2c" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Cost of revenue</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">330,008</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3174">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3175">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">330,008</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_404_eus-gaap--GrossProfit_iT_mtGPzwrB_zoxTerUXKape" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Gross profit</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">738,189</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3179">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3180">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">738,189</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-size: 12pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-size: 12pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-size: 12pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_407_eus-gaap--OperatingExpensesAbstract_iB_zHo5w0axbcOe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif">Expenses</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-size: 12pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-size: 12pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-size: 12pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_405_eus-gaap--LaborAndRelatedExpense_i01_maOEz7gr_zg3y1LT2YPq6" style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">People</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,323,758</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3189">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3190">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,323,758</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_eus-gaap--MarketingAndAdvertisingExpense_i01_maOEz7gr_zI1aBu39EFTd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Marketing and advertising</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">561,008</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3194">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3195">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">561,008</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40E_eus-gaap--CommunicationsAndInformationTechnology_i01_maOEz7gr_zwGpDyCznlJb" style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Technology</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">221,638</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3199">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3200">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">221,638</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_405_eus-gaap--OtherExpenses_i01_maOEz7gr_zkQ35lOrJm9k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Other segment expenses<span id="xdx_F46_zxJHopAbVVdi">2</span></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">114,003</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3204">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3205">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">114,003</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_408_eus-gaap--OperatingExpenses_i01T_mtOEz7gr_zwKRaBVFOsM6" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Total expenses</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,220,407</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3209">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3210">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,220,407</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40A_ecustom--AdjustedEBITDAFromContinuingOperations_maEBITDz6SM_zgrLUOjifxOa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Adjusted EBITDA</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(1,482,218</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3214">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3215">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(1,482,218</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_400_ecustom--OperatingCostsExpensesAndStockBasedCompensation_msEBITDz6SM_z8fvrzQf3OQi" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Transaction, PubCo. Expenses and Stock-based compensation</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,888,827</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3219">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3220">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,888,827</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40F_ecustom--EarningsBeforeInterestTaxesDepreciationAndAmortisation_iT_mtEBITDz6SM_zC5hzRSmiild" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">EBITDA</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(3,371,045</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3224">—</span></span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3225">—</span></span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(3,371,045</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_497_20240101__20240630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--BanzaiOperatingMember_zKPDxCsOCpRl" style="border-bottom: Black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Banzai Operating</b></span></td><td style="padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49A_20240101__20240630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--OpenReelMember_zjhaIBOniwYe" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">OpenReel1</span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49A_20240101__20240630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--VidelloLimitedMember_zDM39Tr7pCS1" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Vidello<sup id="xdx_F58_zcaLWo2LgHs2">1</sup></span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49E_20240101__20240630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zdGTDdYVYCl" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Total Consolidated</span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td colspan="17" style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Six months ended June 30, 2024</span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Banzai Operating</b></span></td><td style="padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">OpenReel1</span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Vidello1</span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Total Consolidated</span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_402_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_maGPzwrB_zlKKIaVmAwX6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%"><span style="font-family: Times New Roman, Times, Serif">Revenue</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,147,669</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3229">—</span></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3230">—</span></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,147,669</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_400_eus-gaap--CostOfRevenue_msGPzwrB_zI5gHJ94bNFe" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Cost of revenue</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">711,388</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3234">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3235">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">711,388</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_404_eus-gaap--GrossProfit_iT_mtGPzwrB_zIzGV81KJH8j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Gross profit</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,436,281</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3239">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3240">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,436,281</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-size: 12pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-size: 12pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-size: 12pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_407_eus-gaap--OperatingExpensesAbstract_iB_zrgQggZo5SPi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif">Expenses</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-size: 12pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-size: 12pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-size: 12pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_405_eus-gaap--LaborAndRelatedExpense_i01_maOEz7gr_zh7WAYxUiBoj" style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">People</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,576,425</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3249">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3250">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,576,425</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_eus-gaap--MarketingAndAdvertisingExpense_i01_maOEz7gr_ziY8rry4xkZg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Marketing and advertising</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">929,746</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3254">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3255">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">929,746</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40E_eus-gaap--CommunicationsAndInformationTechnology_i01_maOEz7gr_zrYJlOBClU39" style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Technology</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">430,425</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3259">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3260">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">430,425</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_405_eus-gaap--OtherExpenses_i01_maOEz7gr_zyADK4iwKsWj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Other segment expenses<span id="xdx_F46_z941ryQxHMsg">2</span></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">991,631</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3264">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3265">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">991,631</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_408_eus-gaap--OperatingExpenses_i01T_mtOEz7gr_z1oKviqLWoxc" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Total expenses</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,928,227</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3269">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3270">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,928,227</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40A_ecustom--AdjustedEBITDAFromContinuingOperations_maEBITDz6SM_zB2zYIesUau6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Adjusted EBITDA</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(3,491,946</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3274">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3275">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(3,491,946</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_400_ecustom--OperatingCostsExpensesAndStockBasedCompensation_msEBITDz6SM_zkTcpHMIEsrl" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Transaction, PubCo. Expenses and Stock-based compensation</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,279,795</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3279">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3280">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,279,795</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40F_ecustom--EarningsBeforeInterestTaxesDepreciationAndAmortisation_iT_mtEBITDz6SM_zHOz5Zb1ScIl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">EBITDA</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(6,771,741</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3284">—</span></span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3285">—</span></span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(6,771,741</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span id="xdx_F06_zNfUbjjgbrhk" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">¹</span></td><td style="width: 5pt"></td><td style="text-align: justify"><span id="xdx_F15_zoCszSqT0OJc" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The OpenReel acquisition occurred on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFN1bW1hcnkgb2YgSW5mb3JtYXRpb24gQWJvdXQgUmVwb3J0ZWQgU2VnbWVudHMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_eus-gaap--BusinessAcquisitionEffectiveDateOfAcquisition1_dd_c20240101__20240630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember_zGfvUPdpWPFa" title="Acquisition date">December 18, 2024</span> and therefore is presented at $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFN1bW1hcnkgb2YgSW5mb3JtYXRpb24gQWJvdXQgUmVwb3J0ZWQgU2VnbWVudHMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_908_eus-gaap--OperatingIncomeLoss_c20240101__20240630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember_zmLuMsnNBHa" title="Operating loss">0</span> for comparative purposes. The Vidello acquisition occurred on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFN1bW1hcnkgb2YgSW5mb3JtYXRpb24gQWJvdXQgUmVwb3J0ZWQgU2VnbWVudHMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_902_eus-gaap--BusinessAcquisitionEffectiveDateOfAcquisition1_dd_c20240101__20240630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--BusinessAcquisitionAxis__custom--VidelloLimitedMember_z9qloDw7gqg" title="Acquisition date">January 31, 2025</span> (refer to <i>Note 4</i>) and therefore is presented at $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFN1bW1hcnkgb2YgSW5mb3JtYXRpb24gQWJvdXQgUmVwb3J0ZWQgU2VnbWVudHMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_900_eus-gaap--OperatingIncomeLoss_c20240101__20240630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--BusinessAcquisitionAxis__custom--VidelloLimitedMember_z4MvTPTKnDWk" title="Operating loss">0</span> for comparative purposes.</span></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><sup id="xdx_F07_zp21FH3gGUrf">2</sup></span></td><td style="width: 5pt"></td><td style="text-align: justify"><span id="xdx_F19_zDeBQKtkhjm5" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other segment expenses for each reportable segment includes travel and entertainment expenses, professional expenses other than those included in transaction and PubCo. expenses, the SEPA commitment fee expense and deferred fee expense, the GEM warrant expense, and the GEM commitment fee expense.</span></td> </tr></table> <p id="xdx_8A0_z0HnWH54DT8k" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89F_eus-gaap--ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock_zFrVxmtTLHOl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A reconciliation between EBITDA by reportable segment to consolidated net loss before income taxes for the three months ended June 30, 2025, and 2024, is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B9_z1T3BeJ7a4X6" style="display: none">Summary of Reconciliation Between EBITDA by Reportable Segment to Consolidated Net Loss Before Income Taxes</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_495_20250401__20250630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zGrZC3IWAQA6" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_490_20240401__20240630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_z8mlE0XfyZDd" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">June 30, 2024</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">EBITDA by segment</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_eus-gaap--OperatingIncomeLoss_hus-gaap--StatementBusinessSegmentsAxis__custom--BanzaiOperatingMember_zuNWcpVrtDVf" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Banzai Operating Co.</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(5,515,911</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(3,371,045</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_401_eus-gaap--OperatingIncomeLoss_hus-gaap--StatementBusinessSegmentsAxis__custom--OpenReelMember_zHx0N0x1s4e6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt"><span style="font-family: Times New Roman, Times, Serif">OpenReel</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">693,883</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3304">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_404_eus-gaap--OperatingIncomeLoss_hus-gaap--StatementBusinessSegmentsAxis__custom--VidelloLimitedMember_zDg81qOkd2Mb" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Vidello</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">416,960</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3307">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_408_eus-gaap--OperatingIncomeLoss_z9jZg5ocVJo9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif">Total</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(4,405,068</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(3,371,045</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_407_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterestAbstract_iB_zlZfVemGS6Y8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-style: italic; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Reconciliation to loss before income taxes:</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40F_ecustom--ChangesInFairValueOfFinancialInstruments_i01_zo8i7kg6l2qh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Changes in fair value of financial instruments</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">223,503</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(350,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_404_eus-gaap--InvestmentIncomeInterest_i01_zpRiJ4M43Kk7" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Interest income</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--InterestExpenseNonoperating_i01_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_zWpyh944Iev6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Interest expense</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3321">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">396,019</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_409_eus-gaap--InterestExpenseNonoperating_i01_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zCxCNOaphuB1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Interest expense – related party</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">536,639</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">385,474</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40C_eus-gaap--GainsLossesOnExtinguishmentOfDebt_i01_zB14f9xsCfT1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Gain (loss) on extinguishment of liabilities, net</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(145,221</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3328">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_404_ecustom--GainsLossesOnDebtIssuance_i01_zQuWfHQ0zwtd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Loss on debt issuance</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">169,200</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3331">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_ecustom--LossOnPrivatePlacementIssuance_i01_zIFUUoN3ifHe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Loss on Private Placement Issuance</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,190,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3334">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_408_ecustom--GemSettlementFeeExpense_i01_zNU10aR0kwY8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">GEM settlement fee expense</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3336">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3337">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_404_ecustom--LossOnYorkvilleSepaAdvances_i01_zGv11GYFs14k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Loss on Yorkville SEPA advances</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">362,613</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3340">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40F_ecustom--YorkvillePrepaymentPremiumExpense_i01_zyKDHD1jLn6d" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Yorkville prepayment premium expense</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3342">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">80,760</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40A_ecustom--LossOnYorkvilleSepaAdvance_i01_zEnmTZ4nghnj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Loss on Yorkville SEPA advances</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3345">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3346">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_406_eus-gaap--DepreciationDepletionAndAmortization_i01_zyWb76SKyr7e" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Depreciation and amortization</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">300,546</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,261</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_401_eus-gaap--SegmentReportingOtherItemAmount_i01_zpREjrhnrGPa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Other income, net</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,335,377</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">64,145</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_i01T_zm3RQVfoO3f8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Loss before income taxes</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(8,377,725</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(3,948,704</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A reconciliation between EBITDA by reportable segment to consolidated net loss before income taxes for the six months ended June 30, 2025, and 2024, is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49A_20250101__20250630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zs0qc9G0r2Rh" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_494_20240101__20240630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zCpNO8QmJq99" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">June 30, 2024</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">EBITDA by segment</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_eus-gaap--OperatingIncomeLoss_hus-gaap--StatementBusinessSegmentsAxis__custom--BanzaiOperatingMember_zPtKTT9VPvEl" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Banzai Operating Co.</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(10,807,051</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(6,771,741</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_401_eus-gaap--OperatingIncomeLoss_hus-gaap--StatementBusinessSegmentsAxis__custom--OpenReelMember_zy49busZkcC4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt"><span style="font-family: Times New Roman, Times, Serif">OpenReel</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,090,820</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3361">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_404_eus-gaap--OperatingIncomeLoss_hus-gaap--StatementBusinessSegmentsAxis__custom--VidelloLimitedMember_zxVIWotQCWqe" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Vidello</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">651,159</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3364">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_408_eus-gaap--OperatingIncomeLoss_zEi2cKmbTpE3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif">Total</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(9,065,072</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(6,771,741</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_407_eus-gaap--OperatingIncomeLoss_zID4qw9AU9d2" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">Adjusted EBIDTA by segment, Total</span></span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(9,065,072</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(6,771,741</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_407_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterestAbstract_iB_zZQM67Oa2Efg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-style: italic; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Reconciliation to loss before income taxes:</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40F_ecustom--ChangesInFairValueOfFinancialInstruments_i01_zL7zUyTv5nrg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Changes in fair value of financial instruments</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">568,095</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(329,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_402_eus-gaap--InvestmentIncomeInterest_i01N_di_z94vhzKVczA" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Interest income</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(2</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(10</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_40E_eus-gaap--InterestExpenseNonoperating_i01_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_zbeQ71YZ1V4j" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Interest expense</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3381">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">847,418</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_409_eus-gaap--InterestExpenseNonoperating_i01_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zaLeBRjTAJmb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Interest expense – related party</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">895,020</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">962,987</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_406_eus-gaap--InterestExpenseNonoperating_i01_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_ziMHCtDzPTH3" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Interest expense</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">895,020</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">962,987</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40C_eus-gaap--GainsLossesOnExtinguishmentOfDebt_i01_zG4ZesMPlkxa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Gain (loss) on extinguishment of liabilities, net</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(2,718,732</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(527,980</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_404_ecustom--GainsLossesOnDebtIssuance_i01_zLH8pBrG96s9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Loss on debt issuance</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">443,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">171,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_ecustom--LossOnPrivatePlacementIssuance_i01_zo0WHdIbkAu" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Loss on Private Placement Issuance</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,190,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3397">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_408_ecustom--GemSettlementFeeExpense_i01_zmXfpxyfWw18" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">GEM settlement fee expense</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3399">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">200,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_404_ecustom--LossOnYorkvilleSepaAdvances_i01_zQOGRqMeoJT6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Loss on Yorkville SEPA advances</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">747,137</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3403">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40F_ecustom--YorkvillePrepaymentPremiumExpense_i01_zYBLMi06dkIl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Yorkville prepayment premium expense</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3405">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">80,760</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_406_eus-gaap--DepreciationDepletionAndAmortization_i01_ziWZRwFMhdUl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Depreciation and amortization</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">547,237</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,825</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_401_eus-gaap--SegmentReportingOtherItemAmount_i01_zjWJzpKHXjp2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Other income, net</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,210,846</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">60,027</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_i01T_z7wcAhkYnkJ3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Loss before income taxes</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(11,947,673</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(8,239,768</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> </table> <p id="xdx_8A8_z9uvsByEHEJi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Disaggregation of Revenue</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_895_eus-gaap--ScheduleOfEntityWideInformationRevenueFromExternalCustomersByProductsAndServicesTextBlock_z9oiHIXyGSb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents the Company’s percentage of revenue generated by SaaS product for the three months ended June 30, 2025, and 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BE_zzeCutPVPMYe" style="display: none">Summary of Company's Percentage of Revenue Generated by Saas Product</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; font-style: italic"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49D_20250401__20250630_zVwXB3NJxcrl" style="font-weight: bold; font-style: italic; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Three <br/> Months Ended<br/> June 30,</span></td><td style="font-weight: bold; font-style: italic"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; font-style: italic"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_499_20240401__20240630_zZBHTqpW26Vf" style="font-weight: bold; font-style: italic; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Three <br/> Months Ended<br/> June 30,</span></td><td style="font-weight: bold; font-style: italic"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; font-style: italic"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_494_20250101__20250630_zna5gn14r6Jj" style="font-weight: bold; font-style: italic; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Six <br/> Months Ended<br/> June 30,</span></td><td style="font-weight: bold; font-style: italic"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; font-style: italic"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_499_20240101__20240630_zQdjgDSvEVdg" style="font-weight: bold; font-style: italic; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Six <br/> Months Ended<br/> June 30,</span></td><td style="font-weight: bold; font-style: italic"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-style: italic"><span style="font-family: Times New Roman, Times, Serif">Revenue %</span></td><td style="font-weight: bold; font-style: italic; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; font-style: italic; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2025</span></td><td style="padding-bottom: 1pt; font-weight: bold; font-style: italic"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; font-style: italic; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; font-style: italic; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2024</span></td><td style="padding-bottom: 1pt; font-weight: bold; font-style: italic"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; font-style: italic; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; font-style: italic; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2025</span></td><td style="padding-bottom: 1pt; font-weight: bold; font-style: italic"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; font-style: italic; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; font-style: italic; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2024</span></td><td style="padding-bottom: 1pt; font-weight: bold; font-style: italic"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40E_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_hsrt--ProductOrServiceAxis__custom--ReachMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_ziCjV6XcR4o3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%"><span style="font-family: Times New Roman, Times, Serif">Reach</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2.7</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3.4</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1.7</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2.0</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr id="xdx_402_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_hsrt--ProductOrServiceAxis__custom--DemioMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_zhny23D3hGH2" style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Demio</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">32.4</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">96.1</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">27.0</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">97.4</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr id="xdx_40F_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_hsrt--ProductOrServiceAxis__custom--OpenReelMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_ze0zvuLZCAOe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif">OpenReel</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">42.5</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.0</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">35.8</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.0</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr id="xdx_408_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_hsrt--ProductOrServiceAxis__custom--VidelloLimitedMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_zk2vy5fbQvjl" style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Vidello</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">22.4</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.0</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">35.5</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.0</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr id="xdx_406_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_hsrt--ProductOrServiceAxis__us-gaap--ProductAndServiceOtherMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_zzJ93wwp0pOh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Other</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.0</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.5</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.0</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.6</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr id="xdx_408_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_hus-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_z314fG9PWTuj" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Total</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">100.0</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">100.0</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">100.0</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">100.0</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> </table> <p id="xdx_8AB_z3sXrJOrryz2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For disaggregation of revenue by geographic area, refer to <i>Note 6</i>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 3 3 Segment revenue and gross profit are determined on the same basis as consolidated revenue and consolidated gross profit as shown in the Company’s consolidated statements of operations. Segment adjusted EBITDA is defined as revenue less the following expenses associated with each segment: cost of revenue, people, marketing and advertising, technology, and other segment expenses. Segment adjusted EBITDA excludes certain non-cash items or items that management does not consider reflective of ongoing core operations. <p id="xdx_894_eus-gaap--ScheduleOfSegmentReportingInformationBySegmentTextBlock_zngp0NcCZ907" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The tables below present information about reported segments for the three and six months ending June 30, 2025:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BA_ztvhBiDc6oCj" style="display: none">Summary of Information About Reported Segments</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Three months ended June 30, 2025</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_494_20250401__20250630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--BanzaiOperatingMember_zFDrcBTMKyG5"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49E_20250401__20250630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--OpenReelMember_zAlMzoDcBKvi"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_491_20250401__20250630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--VidelloLimitedMember_zj0zMkLWQqZj"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_492_20250401__20250630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zxXDgPMLdP1g"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Banzai Operating</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">OpenReel</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Vidello</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Total Consolidated</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_402_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_maGPzwrB_znLvRVomYtL2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%"><span style="font-family: Times New Roman, Times, Serif">Revenue</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,146,546</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,386,938</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">728,766</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,262,250</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_400_eus-gaap--CostOfRevenue_msGPzwrB_zXaDHxuoC9j" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Cost of revenue</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">368,473</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">77,694</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">108,348</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">554,515</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_404_eus-gaap--GrossProfit_iT_mtGPzwrB_zcp7gE7AptL6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Gross profit</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">778,073</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,309,244</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">620,418</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,707,735</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_407_eus-gaap--OperatingExpensesAbstract_iB_z4S4IXKdOlVe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif">Expenses</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_405_eus-gaap--LaborAndRelatedExpense_i01_maOEz7gr_z5Zlz5KQHSih" style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">People</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,666,047</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">40</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3069">-</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,666,087</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_eus-gaap--MarketingAndAdvertisingExpense_i01_maOEz7gr_z4yl3iVNbWC" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Marketing and advertising</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">454,754</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">18,377</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">103,059</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">576,190</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40E_eus-gaap--CommunicationsAndInformationTechnology_i01_maOEz7gr_z4j9Bmurxzb5" style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Technology</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">254,213</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">551,381</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">27,377</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">832,971</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_405_eus-gaap--OtherExpenses_i01_maOEz7gr_zkNhANLKc4Je" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Other segment expenses<span id="xdx_F46_zY37nNlBnV44">1</span></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,027,031</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">26,906</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">73,022</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,126,959</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_408_eus-gaap--OperatingExpenses_i01T_mtOEz7gr_z6hLDlJUU2Y8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Total expenses</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,402,045</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">596,704</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">203,458</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,202,207</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40A_ecustom--AdjustedEBITDAFromContinuingOperations_maEBITDz6SM_zscLyCIgQgAf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Adjusted EBITDA</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(2,623,972</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">712,540</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">416,960</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(1,494,472</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_400_ecustom--OperatingCostsExpensesAndStockBasedCompensation_msEBITDz6SM_zbYpYigwwO9e" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Transaction, PubCo. Expenses and Stock-based compensation</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,891,939</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">18,657</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3099">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,910,596</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40F_ecustom--EarningsBeforeInterestTaxesDepreciationAndAmortisation_iT_mtEBITDz6SM_zGgrN1HVbxIh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">EBITDA</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(5,515,911</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">693,883</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">416,960</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(4,405,068</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Six months ended June 30, 2025</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49D_20250101__20250630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--BanzaiOperatingMember_zTUx8AiSi8tf"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_493_20250101__20250630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--OpenReelMember_zcksuseWtzQ7"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49A_20250101__20250630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--VidelloLimitedMember_z8B43Q0jPY2"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_490_20250101__20250630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zY67JET61umh"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Banzai<br/> Operating</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">OpenReel</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Vidello</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Total<br/> Consolidated</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_402_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_maGPzwrB_zl2mUiMyJdLl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%"><span style="font-family: Times New Roman, Times, Serif">Revenue</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,306,292</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,828,481</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,506,560</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">6,641,333</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_400_eus-gaap--CostOfRevenue_msGPzwrB_znftpn2eziQi" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Cost of revenue</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">745,071</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">152,502</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">262,941</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,160,514</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_404_eus-gaap--GrossProfit_iT_mtGPzwrB_zZQjO1pShVl1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Gross profit</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,561,221</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,675,979</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,243,619</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">5,480,819</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_407_eus-gaap--OperatingExpensesAbstract_iB_zfJ6qbRlhV38" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif">Expenses</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_405_eus-gaap--LaborAndRelatedExpense_i01_maOEz7gr_zbRt000A112f" style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">People</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,869,793</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">89,888</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3129">-</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,959,681</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_eus-gaap--MarketingAndAdvertisingExpense_i01_maOEz7gr_zXXVAp6obp7h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Marketing and advertising</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,249,850</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">57,494</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">278,351</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,585,695</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40E_eus-gaap--CommunicationsAndInformationTechnology_i01_maOEz7gr_zqCC5dF1HxB8" style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Technology</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">530,621</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,070,261</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">51,573</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,652,455</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_405_eus-gaap--OtherExpenses_i01_maOEz7gr_zjPNagqUyZMb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Other segment expenses<span id="xdx_F41_zuE23KLycsTe">1</span></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,696,159</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">47,034</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">262,536</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,005,729</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_408_eus-gaap--OperatingExpenses_i01T_mtOEz7gr_zDT1aAbIaV38" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Total expenses</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">7,346,423</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,264,677</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">592,460</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">9,203,560</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40A_ecustom--AdjustedEBITDAFromContinuingOperations_maEBITDz6SM_zSwsWB7TOyFc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Adjusted EBITDA</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(5,785,202</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,411,302</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">651,159</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(3,722,741</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_400_ecustom--OperatingCostsExpensesAndStockBasedCompensation_msEBITDz6SM_zMTmXhzecVEg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Transaction, PubCo. Expenses and Stock-based compensation</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">5,021,849</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">320,482</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3159">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">5,342,331</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40F_ecustom--EarningsBeforeInterestTaxesDepreciationAndAmortisation_iT_mtEBITDz6SM_zpN2Fctazfk4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">EBITDA</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(10,807,051</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,090,820</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">651,159</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(9,065,072</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td id="xdx_F01_zj02KpfUU2lb" style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">¹</span></td><td style="width: 5pt"></td><td style="text-align: justify"><span id="xdx_F1A_zmFk8CPmyp6b" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other segment expenses for each reportable segment includes travel and entertainment expenses, professional expenses other than those included in transaction and PubCo. expenses, insurance expenses, and expenses related to licenses.</span></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The tables below present information about reported segments for the three and six months ending June 30, 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_499_20240401__20240630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--BanzaiOperatingMember_zoms4VlAsckk" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Banzai Operating</span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49B_20240401__20240630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--OpenReelMember_zPdUPyegDdb" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">OpenReel1</span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_495_20240401__20240630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--VidelloLimitedMember_z8NybccRskse" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Vidello<sup id="xdx_F5C_zzft7PsHCaSj">1</sup></span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_490_20240401__20240630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zmp7NtqfJnhi" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Total Consolidated</span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td colspan="17" style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Three months ended June 30, 2024</span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Banzai Operating</span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">OpenReel1</span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Vidello1</span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Total Consolidated</span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_402_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_maGPzwrB_z1CZrQwedq36" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%"><span style="font-family: Times New Roman, Times, Serif">Revenue</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,068,197</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3169">—</span></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3170">—</span></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,068,197</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_400_eus-gaap--CostOfRevenue_msGPzwrB_zocuKjpYWP2c" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Cost of revenue</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">330,008</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3174">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3175">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">330,008</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_404_eus-gaap--GrossProfit_iT_mtGPzwrB_zoxTerUXKape" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Gross profit</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">738,189</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3179">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3180">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">738,189</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-size: 12pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-size: 12pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-size: 12pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_407_eus-gaap--OperatingExpensesAbstract_iB_zHo5w0axbcOe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif">Expenses</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-size: 12pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-size: 12pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-size: 12pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_405_eus-gaap--LaborAndRelatedExpense_i01_maOEz7gr_zg3y1LT2YPq6" style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">People</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,323,758</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3189">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3190">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,323,758</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_eus-gaap--MarketingAndAdvertisingExpense_i01_maOEz7gr_zI1aBu39EFTd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Marketing and advertising</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">561,008</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3194">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3195">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">561,008</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40E_eus-gaap--CommunicationsAndInformationTechnology_i01_maOEz7gr_zwGpDyCznlJb" style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Technology</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">221,638</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3199">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3200">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">221,638</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_405_eus-gaap--OtherExpenses_i01_maOEz7gr_zkQ35lOrJm9k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Other segment expenses<span id="xdx_F46_zxJHopAbVVdi">2</span></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">114,003</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3204">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3205">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">114,003</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_408_eus-gaap--OperatingExpenses_i01T_mtOEz7gr_zwKRaBVFOsM6" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Total expenses</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,220,407</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3209">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3210">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,220,407</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40A_ecustom--AdjustedEBITDAFromContinuingOperations_maEBITDz6SM_zgrLUOjifxOa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Adjusted EBITDA</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(1,482,218</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3214">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3215">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(1,482,218</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_400_ecustom--OperatingCostsExpensesAndStockBasedCompensation_msEBITDz6SM_z8fvrzQf3OQi" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Transaction, PubCo. Expenses and Stock-based compensation</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,888,827</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3219">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3220">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,888,827</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40F_ecustom--EarningsBeforeInterestTaxesDepreciationAndAmortisation_iT_mtEBITDz6SM_zC5hzRSmiild" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">EBITDA</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(3,371,045</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3224">—</span></span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3225">—</span></span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(3,371,045</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_497_20240101__20240630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--BanzaiOperatingMember_zKPDxCsOCpRl" style="border-bottom: Black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Banzai Operating</b></span></td><td style="padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49A_20240101__20240630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--OpenReelMember_zjhaIBOniwYe" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">OpenReel1</span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49A_20240101__20240630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--VidelloLimitedMember_zDM39Tr7pCS1" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Vidello<sup id="xdx_F58_zcaLWo2LgHs2">1</sup></span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49E_20240101__20240630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zdGTDdYVYCl" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Total Consolidated</span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td colspan="17" style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Six months ended June 30, 2024</span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Banzai Operating</b></span></td><td style="padding-bottom: 1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">OpenReel1</span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Vidello1</span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Total Consolidated</span></td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_402_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_maGPzwrB_zlKKIaVmAwX6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%"><span style="font-family: Times New Roman, Times, Serif">Revenue</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,147,669</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3229">—</span></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3230">—</span></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,147,669</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_400_eus-gaap--CostOfRevenue_msGPzwrB_zI5gHJ94bNFe" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Cost of revenue</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">711,388</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3234">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3235">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">711,388</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_404_eus-gaap--GrossProfit_iT_mtGPzwrB_zIzGV81KJH8j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Gross profit</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,436,281</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3239">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3240">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,436,281</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-size: 12pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-size: 12pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-size: 12pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_407_eus-gaap--OperatingExpensesAbstract_iB_zrgQggZo5SPi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif">Expenses</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-size: 12pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-size: 12pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-size: 12pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_405_eus-gaap--LaborAndRelatedExpense_i01_maOEz7gr_zh7WAYxUiBoj" style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">People</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,576,425</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3249">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3250">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,576,425</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_eus-gaap--MarketingAndAdvertisingExpense_i01_maOEz7gr_ziY8rry4xkZg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Marketing and advertising</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">929,746</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3254">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3255">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">929,746</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40E_eus-gaap--CommunicationsAndInformationTechnology_i01_maOEz7gr_zrYJlOBClU39" style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Technology</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">430,425</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3259">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3260">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">430,425</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_405_eus-gaap--OtherExpenses_i01_maOEz7gr_zyADK4iwKsWj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Other segment expenses<span id="xdx_F46_z941ryQxHMsg">2</span></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">991,631</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3264">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3265">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">991,631</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_408_eus-gaap--OperatingExpenses_i01T_mtOEz7gr_z1oKviqLWoxc" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Total expenses</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,928,227</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3269">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3270">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,928,227</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40A_ecustom--AdjustedEBITDAFromContinuingOperations_maEBITDz6SM_zB2zYIesUau6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Adjusted EBITDA</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(3,491,946</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3274">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3275">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(3,491,946</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_400_ecustom--OperatingCostsExpensesAndStockBasedCompensation_msEBITDz6SM_zkTcpHMIEsrl" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Transaction, PubCo. Expenses and Stock-based compensation</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,279,795</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3279">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3280">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,279,795</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40F_ecustom--EarningsBeforeInterestTaxesDepreciationAndAmortisation_iT_mtEBITDz6SM_zHOz5Zb1ScIl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">EBITDA</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(6,771,741</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3284">—</span></span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3285">—</span></span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(6,771,741</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span id="xdx_F06_zNfUbjjgbrhk" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">¹</span></td><td style="width: 5pt"></td><td style="text-align: justify"><span id="xdx_F15_zoCszSqT0OJc" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The OpenReel acquisition occurred on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFN1bW1hcnkgb2YgSW5mb3JtYXRpb24gQWJvdXQgUmVwb3J0ZWQgU2VnbWVudHMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_eus-gaap--BusinessAcquisitionEffectiveDateOfAcquisition1_dd_c20240101__20240630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember_zGfvUPdpWPFa" title="Acquisition date">December 18, 2024</span> and therefore is presented at $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFN1bW1hcnkgb2YgSW5mb3JtYXRpb24gQWJvdXQgUmVwb3J0ZWQgU2VnbWVudHMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_908_eus-gaap--OperatingIncomeLoss_c20240101__20240630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember_zmLuMsnNBHa" title="Operating loss">0</span> for comparative purposes. The Vidello acquisition occurred on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFN1bW1hcnkgb2YgSW5mb3JtYXRpb24gQWJvdXQgUmVwb3J0ZWQgU2VnbWVudHMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_902_eus-gaap--BusinessAcquisitionEffectiveDateOfAcquisition1_dd_c20240101__20240630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--BusinessAcquisitionAxis__custom--VidelloLimitedMember_z9qloDw7gqg" title="Acquisition date">January 31, 2025</span> (refer to <i>Note 4</i>) and therefore is presented at $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFN1bW1hcnkgb2YgSW5mb3JtYXRpb24gQWJvdXQgUmVwb3J0ZWQgU2VnbWVudHMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_900_eus-gaap--OperatingIncomeLoss_c20240101__20240630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--BusinessAcquisitionAxis__custom--VidelloLimitedMember_z4MvTPTKnDWk" title="Operating loss">0</span> for comparative purposes.</span></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><sup id="xdx_F07_zp21FH3gGUrf">2</sup></span></td><td style="width: 5pt"></td><td style="text-align: justify"><span id="xdx_F19_zDeBQKtkhjm5" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other segment expenses for each reportable segment includes travel and entertainment expenses, professional expenses other than those included in transaction and PubCo. expenses, the SEPA commitment fee expense and deferred fee expense, the GEM warrant expense, and the GEM commitment fee expense.</span></td> </tr></table> 1146546 1386938 728766 3262250 368473 77694 108348 554515 778073 1309244 620418 2707735 1666047 40 1666087 454754 18377 103059 576190 254213 551381 27377 832971 1027031 26906 73022 1126959 3402045 596704 203458 4202207 -2623972 712540 416960 -1494472 2891939 18657 2910596 -5515911 693883 416960 -4405068 2306292 2828481 1506560 6641333 745071 152502 262941 1160514 1561221 2675979 1243619 5480819 3869793 89888 3959681 1249850 57494 278351 1585695 530621 1070261 51573 1652455 1696159 47034 262536 2005729 7346423 1264677 592460 9203560 -5785202 1411302 651159 -3722741 5021849 320482 5342331 -10807051 1090820 651159 -9065072 1068197 1068197 330008 330008 738189 738189 1323758 1323758 561008 561008 221638 221638 114003 114003 2220407 2220407 -1482218 -1482218 1888827 1888827 -3371045 -3371045 2147669 2147669 711388 711388 1436281 1436281 2576425 2576425 929746 929746 430425 430425 991631 991631 4928227 4928227 -3491946 -3491946 3279795 3279795 -6771741 -6771741 2024-12-18 0 2025-01-31 0 <p id="xdx_89F_eus-gaap--ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock_zFrVxmtTLHOl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A reconciliation between EBITDA by reportable segment to consolidated net loss before income taxes for the three months ended June 30, 2025, and 2024, is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B9_z1T3BeJ7a4X6" style="display: none">Summary of Reconciliation Between EBITDA by Reportable Segment to Consolidated Net Loss Before Income Taxes</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_495_20250401__20250630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zGrZC3IWAQA6" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_490_20240401__20240630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_z8mlE0XfyZDd" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">June 30, 2024</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">EBITDA by segment</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_eus-gaap--OperatingIncomeLoss_hus-gaap--StatementBusinessSegmentsAxis__custom--BanzaiOperatingMember_zuNWcpVrtDVf" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Banzai Operating Co.</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(5,515,911</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(3,371,045</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_401_eus-gaap--OperatingIncomeLoss_hus-gaap--StatementBusinessSegmentsAxis__custom--OpenReelMember_zHx0N0x1s4e6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt"><span style="font-family: Times New Roman, Times, Serif">OpenReel</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">693,883</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3304">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_404_eus-gaap--OperatingIncomeLoss_hus-gaap--StatementBusinessSegmentsAxis__custom--VidelloLimitedMember_zDg81qOkd2Mb" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Vidello</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">416,960</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3307">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_408_eus-gaap--OperatingIncomeLoss_z9jZg5ocVJo9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif">Total</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(4,405,068</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(3,371,045</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_407_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterestAbstract_iB_zlZfVemGS6Y8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-style: italic; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Reconciliation to loss before income taxes:</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40F_ecustom--ChangesInFairValueOfFinancialInstruments_i01_zo8i7kg6l2qh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Changes in fair value of financial instruments</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">223,503</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(350,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_404_eus-gaap--InvestmentIncomeInterest_i01_zpRiJ4M43Kk7" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Interest income</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--InterestExpenseNonoperating_i01_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_zWpyh944Iev6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Interest expense</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3321">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">396,019</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_409_eus-gaap--InterestExpenseNonoperating_i01_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zCxCNOaphuB1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Interest expense – related party</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">536,639</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">385,474</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40C_eus-gaap--GainsLossesOnExtinguishmentOfDebt_i01_zB14f9xsCfT1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Gain (loss) on extinguishment of liabilities, net</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(145,221</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3328">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_404_ecustom--GainsLossesOnDebtIssuance_i01_zQuWfHQ0zwtd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Loss on debt issuance</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">169,200</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3331">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_ecustom--LossOnPrivatePlacementIssuance_i01_zIFUUoN3ifHe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Loss on Private Placement Issuance</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,190,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3334">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_408_ecustom--GemSettlementFeeExpense_i01_zNU10aR0kwY8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">GEM settlement fee expense</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3336">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3337">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_404_ecustom--LossOnYorkvilleSepaAdvances_i01_zGv11GYFs14k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Loss on Yorkville SEPA advances</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">362,613</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3340">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40F_ecustom--YorkvillePrepaymentPremiumExpense_i01_zyKDHD1jLn6d" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Yorkville prepayment premium expense</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3342">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">80,760</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40A_ecustom--LossOnYorkvilleSepaAdvance_i01_zEnmTZ4nghnj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Loss on Yorkville SEPA advances</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3345">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3346">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_406_eus-gaap--DepreciationDepletionAndAmortization_i01_zyWb76SKyr7e" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Depreciation and amortization</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">300,546</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,261</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_401_eus-gaap--SegmentReportingOtherItemAmount_i01_zpREjrhnrGPa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Other income, net</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,335,377</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">64,145</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_i01T_zm3RQVfoO3f8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Loss before income taxes</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(8,377,725</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(3,948,704</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A reconciliation between EBITDA by reportable segment to consolidated net loss before income taxes for the six months ended June 30, 2025, and 2024, is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49A_20250101__20250630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zs0qc9G0r2Rh" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">June 30, 2025</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_494_20240101__20240630__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zCpNO8QmJq99" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">June 30, 2024</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">EBITDA by segment</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_eus-gaap--OperatingIncomeLoss_hus-gaap--StatementBusinessSegmentsAxis__custom--BanzaiOperatingMember_zPtKTT9VPvEl" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Banzai Operating Co.</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(10,807,051</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(6,771,741</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_401_eus-gaap--OperatingIncomeLoss_hus-gaap--StatementBusinessSegmentsAxis__custom--OpenReelMember_zy49busZkcC4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt"><span style="font-family: Times New Roman, Times, Serif">OpenReel</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,090,820</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3361">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_404_eus-gaap--OperatingIncomeLoss_hus-gaap--StatementBusinessSegmentsAxis__custom--VidelloLimitedMember_zxVIWotQCWqe" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Vidello</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">651,159</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3364">—</span></span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_408_eus-gaap--OperatingIncomeLoss_zEi2cKmbTpE3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif">Total</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(9,065,072</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(6,771,741</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_407_eus-gaap--OperatingIncomeLoss_zID4qw9AU9d2" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">Adjusted EBIDTA by segment, Total</span></span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(9,065,072</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(6,771,741</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_407_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterestAbstract_iB_zZQM67Oa2Efg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-style: italic; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Reconciliation to loss before income taxes:</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40F_ecustom--ChangesInFairValueOfFinancialInstruments_i01_zL7zUyTv5nrg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Changes in fair value of financial instruments</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">568,095</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(329,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_402_eus-gaap--InvestmentIncomeInterest_i01N_di_z94vhzKVczA" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Interest income</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(2</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(10</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_40E_eus-gaap--InterestExpenseNonoperating_i01_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_zbeQ71YZ1V4j" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Interest expense</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3381">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">847,418</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_409_eus-gaap--InterestExpenseNonoperating_i01_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zaLeBRjTAJmb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Interest expense – related party</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">895,020</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">962,987</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_406_eus-gaap--InterestExpenseNonoperating_i01_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_ziMHCtDzPTH3" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Interest expense</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">895,020</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">962,987</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40C_eus-gaap--GainsLossesOnExtinguishmentOfDebt_i01_zG4ZesMPlkxa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Gain (loss) on extinguishment of liabilities, net</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(2,718,732</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(527,980</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_404_ecustom--GainsLossesOnDebtIssuance_i01_zLH8pBrG96s9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Loss on debt issuance</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">443,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">171,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_ecustom--LossOnPrivatePlacementIssuance_i01_zo0WHdIbkAu" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Loss on Private Placement Issuance</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,190,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3397">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_408_ecustom--GemSettlementFeeExpense_i01_zmXfpxyfWw18" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">GEM settlement fee expense</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3399">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">200,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_404_ecustom--LossOnYorkvilleSepaAdvances_i01_zQOGRqMeoJT6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Loss on Yorkville SEPA advances</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">747,137</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3403">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40F_ecustom--YorkvillePrepaymentPremiumExpense_i01_zYBLMi06dkIl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Yorkville prepayment premium expense</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3405">—</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">80,760</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_406_eus-gaap--DepreciationDepletionAndAmortization_i01_ziWZRwFMhdUl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Depreciation and amortization</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">547,237</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,825</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_401_eus-gaap--SegmentReportingOtherItemAmount_i01_zjWJzpKHXjp2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Other income, net</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,210,846</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">60,027</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_i01T_z7wcAhkYnkJ3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Loss before income taxes</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(11,947,673</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(8,239,768</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> </table> -5515911 -3371045 693883 416960 -4405068 -3371045 223503 -350000 396019 536639 385474 -145221 169200 1190000 362613 80760 300546 1261 1335377 64145 -8377725 -3948704 -10807051 -6771741 1090820 651159 -9065072 -6771741 -9065072 -6771741 568095 -329000 2 10 847418 895020 962987 895020 962987 -2718732 -527980 443000 171000 1190000 200000 747137 80760 547237 2825 1210846 60027 -11947673 -8239768 <p id="xdx_895_eus-gaap--ScheduleOfEntityWideInformationRevenueFromExternalCustomersByProductsAndServicesTextBlock_z9oiHIXyGSb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents the Company’s percentage of revenue generated by SaaS product for the three months ended June 30, 2025, and 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BE_zzeCutPVPMYe" style="display: none">Summary of Company's Percentage of Revenue Generated by Saas Product</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; font-style: italic"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49D_20250401__20250630_zVwXB3NJxcrl" style="font-weight: bold; font-style: italic; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Three <br/> Months Ended<br/> June 30,</span></td><td style="font-weight: bold; font-style: italic"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; font-style: italic"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_499_20240401__20240630_zZBHTqpW26Vf" style="font-weight: bold; font-style: italic; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Three <br/> Months Ended<br/> June 30,</span></td><td style="font-weight: bold; font-style: italic"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; font-style: italic"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_494_20250101__20250630_zna5gn14r6Jj" style="font-weight: bold; font-style: italic; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Six <br/> Months Ended<br/> June 30,</span></td><td style="font-weight: bold; font-style: italic"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; font-style: italic"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_499_20240101__20240630_zQdjgDSvEVdg" style="font-weight: bold; font-style: italic; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Six <br/> Months Ended<br/> June 30,</span></td><td style="font-weight: bold; font-style: italic"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-style: italic"><span style="font-family: Times New Roman, Times, Serif">Revenue %</span></td><td style="font-weight: bold; font-style: italic; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; font-style: italic; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2025</span></td><td style="padding-bottom: 1pt; font-weight: bold; font-style: italic"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; font-style: italic; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; font-style: italic; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2024</span></td><td style="padding-bottom: 1pt; font-weight: bold; font-style: italic"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; font-style: italic; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; font-style: italic; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2025</span></td><td style="padding-bottom: 1pt; font-weight: bold; font-style: italic"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; font-style: italic; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; font-style: italic; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2024</span></td><td style="padding-bottom: 1pt; font-weight: bold; font-style: italic"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40E_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_hsrt--ProductOrServiceAxis__custom--ReachMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_ziCjV6XcR4o3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%"><span style="font-family: Times New Roman, Times, Serif">Reach</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2.7</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3.4</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1.7</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2.0</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr id="xdx_402_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_hsrt--ProductOrServiceAxis__custom--DemioMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_zhny23D3hGH2" style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Demio</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">32.4</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">96.1</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">27.0</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">97.4</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr id="xdx_40F_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_hsrt--ProductOrServiceAxis__custom--OpenReelMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_ze0zvuLZCAOe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif">OpenReel</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">42.5</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.0</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">35.8</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.0</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr id="xdx_408_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_hsrt--ProductOrServiceAxis__custom--VidelloLimitedMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_zk2vy5fbQvjl" style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Vidello</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">22.4</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.0</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">35.5</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.0</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr id="xdx_406_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_hsrt--ProductOrServiceAxis__us-gaap--ProductAndServiceOtherMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_zzJ93wwp0pOh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif">Other</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.0</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.5</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.0</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.6</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr id="xdx_408_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_hus-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_z314fG9PWTuj" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Total</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">100.0</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">100.0</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">100.0</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">100.0</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> </table> 0.027 0.034 0.017 0.020 0.324 0.961 0.270 0.974 0.425 0.000 0.358 0.000 0.224 0.000 0.355 0.000 0.000 0.005 0.000 0.006 1.000 1.000 1.000 1.000 <p id="xdx_806_eus-gaap--SubsequentEventsTextBlock_zWnHlWhZOZ5d" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>20. <span id="xdx_825_zsuSjNBWdQ9i">Subsequent Events</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>CFO Appointment</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 2, 2025, Mr. Dean Ditto was appointed to serve as Banzai International, Inc.’s (the “Company”) Chief Financial Officer, effective immediately. Mr. Ditto replaces Interim Chief Financial Officer, Alvin Yip. There are no family relationships between Mr. Ditto and any of the Company’s directors or other executive officers. There is no arrangement or understanding between Mr. Ditto and any other person pursuant to which Mr. Ditto was selected as Chief Financial Officer. There have been no transactions involving Mr. Ditto that would be required to be disclosed by Item 404(a) of Regulation S-K.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>1800 Diagonal Note Conversions</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 22, 2025, the Company received a notice of conversion from 1800 Diagonal electing to convert $<span id="xdx_902_ecustom--ConvertibleCommonStockValueOutstanding_iI_c20250722__us-gaap--LongtermDebtTypeAxis__custom--EighteenHundredDiagonalConversionsMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zC60LSU4B4ve" title="Common stock outstanding convertible">53,664</span> outstanding of the December 1800 Diagonal Note pursuant to the terms of the December 1800 Diagonal Note, issuing <span id="xdx_900_eus-gaap--CommonStockSharesIssued_iI_c20250722__us-gaap--LongtermDebtTypeAxis__custom--EighteenHundredDiagonalConversionsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zvpjs2QjZQme" title="Common stock, shares issued">19,986</span> shares of Class A Common Stock at a conversion price of $<span id="xdx_90E_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_c20250722__us-gaap--LongtermDebtTypeAxis__custom--EighteenHundredDiagonalConversionsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zh5PVFzfQ97h" title="Debt instrument conversion price per share">2.685</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 23, 2025, the Company received a notice of conversion from 1800 Diagonal electing to convert $<span id="xdx_902_ecustom--ConvertibleCommonStockValueOutstanding_iI_c20250723__us-gaap--LongtermDebtTypeAxis__custom--EighteenHundredDiagonalConversionsMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zWKiourwsNb6" title="Common stock outstanding convertible">18,888</span> outstanding of the September 1800 Diagonal Note pursuant to the terms of the September 1800 Diagonal Note, issuing <span id="xdx_909_eus-gaap--CommonStockSharesIssued_iI_c20250723__us-gaap--LongtermDebtTypeAxis__custom--EighteenHundredDiagonalConversionsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zh0cV1Wzhmdl" title="Common stock, shares issued">7,034</span> shares of Class A Common Stock at a conversion price of $<span id="xdx_90A_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_c20250723__us-gaap--LongtermDebtTypeAxis__custom--EighteenHundredDiagonalConversionsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zIYEBqwdpXze" title="Debt instrument conversion price per share">2.685</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On August 11, 2025, the Company received a notice of conversion from 1800 Diagonal electing to convert $<span id="xdx_906_ecustom--ConvertibleCommonStockValueOutstanding_iI_c20250811__us-gaap--LongtermDebtTypeAxis__custom--EighteenHundredDiagonalConversionsMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z04k2TY0HCM2" title="Common stock outstanding convertible">71,052</span> outstanding of the February 1800 Diagonal Note pursuant to the terms of the February 1800 Diagonal Note, issuing <span id="xdx_90D_eus-gaap--CommonStockSharesIssued_iI_c20250811__us-gaap--LongtermDebtTypeAxis__custom--EighteenHundredDiagonalConversionsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zW2IEvn93wEb" title="Common stock, shares issued">32,780</span> shares of Class A Common Stock at a conversion price of $<span id="xdx_90C_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_c20250811__us-gaap--LongtermDebtTypeAxis__custom--EighteenHundredDiagonalConversionsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zun7rD2dBLZ4" title="Debt instrument conversion price per share">2.167</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>July 1800 Diagonal Note</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 23, 2025, the Company entered into a Securities Purchase Agreement with 1800 Diagonal, in connection with the issuance of a convertible promissory note, in the aggregate principal amount of $<span id="xdx_901_eus-gaap--DebtInstrumentFaceAmount_iI_c20250723__us-gaap--LongtermDebtTypeAxis__custom--JulyEighteenHundredDiagonalPromissoryNoteMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zHlDNClZpX1b" title="Aggregate principal amount">295,550</span>. The maturity date of the note is <span id="xdx_90D_eus-gaap--DebtInstrumentMaturityDate_dd_c20250723__20250723__us-gaap--LongtermDebtTypeAxis__custom--JulyEighteenHundredDiagonalPromissoryNoteMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zaJ0tTMjIJxb" title="Debt instrument, maturity date">May 30, 2026</span>. The note was issued with an approximately thirteen percent (<span id="xdx_904_ecustom--DebtInstrumentInterestRateOriginalIssuePercentage_iI_pid_dp_uPure_c20250723__us-gaap--LongtermDebtTypeAxis__custom--JulyEighteenHundredDiagonalPromissoryNoteMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zTJatshszgid" title="Debt instrument, interest rate, original issue percentage">13</span>%) original issue discount and bears interest at an annual rate of twelve percent (<span id="xdx_902_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20250723__us-gaap--LongtermDebtTypeAxis__custom--JulyEighteenHundredDiagonalPromissoryNoteMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zhmYd6oHEBNe" title="Debt instrument, interest rate, stated percentage">12</span>%).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company shall repay the note in installments, beginning on January 30, 2026, and continuing monthly through May 30, 2026 (each, an “Installment Date”) in an amount equal to the sum of (i) $<span id="xdx_90F_eus-gaap--DebtInstrumentPeriodicPayment_c20250723__20250723__us-gaap--LongtermDebtTypeAxis__custom--JulyEighteenHundredDiagonalPromissoryNoteMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zpGyqSPhSNSg" title="Debt instrument, periodic payment">165,508</span> of principal in respect to the first Installment Date, and $<span id="xdx_908_eus-gaap--DebtInstrumentPeriodicPayment_c20260530__20260530__us-gaap--LongtermDebtTypeAxis__custom--JulyEighteenHundredDiagonalPromissoryNoteMember_zcRUSPPfskzb" title="Debt instrument, periodic payment">41,377</span> in respect of each following monthly Installment Date, respectively (or the outstanding principal if less than such amount).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Note is convertible into shares of the Company’s Class A Common Stock, par value $<span id="xdx_90C_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20250723__us-gaap--LongtermDebtTypeAxis__custom--JulyEighteenHundredDiagonalPromissoryNoteMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zAg33UGGQiw7" title="Common stock par value">0.0001</span> per share (the “Class A Common Stock”) at a conversion price equal to <span id="xdx_90D_eus-gaap--DebtInstrumentConvertibleConversionRatio1_c20250723__20250723__us-gaap--LongtermDebtTypeAxis__custom--JulyEighteenHundredDiagonalPromissoryNoteMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zejPUKfrdig8" title="Debt instrument conversion ratio">75</span>% of the Market Price (as defined within the agreement), but only on an event of default.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Yorkville Advanced Notice Settlements</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Between July 1, 2025 and August 7, 2025, the Company settled Advance Notices received subsequent to June 30, 2025, by selling an aggregate of <span id="xdx_904_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20250701__20250807__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_zmgjPDQaxoch" title="Purchase of common shares">880,000</span> shares of Class A Common Stock to Yorkville for an aggregate total purchase price of approximately $<span id="xdx_908_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_c20250701__20250807__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_zcuDqh1cjq8" title="Consideration received on transaction">3,102,000</span>.</span></p> 53664 19986 2.685 18888 7034 2.685 71052 32780 2.167 295550 2026-05-30 0.13 0.12 165508 41377 0.0001 75 880000 3102000 1087497 2093718 24210 5748 936321 105049 643674 741155 2667492 2939922 3539 4644 3883853 18972475 2171526 72565 134013 63000 11154 38381 25674078 5288486 7782746 6439863 3891018 5194240 1766000 8639701 5233932 215057 215057 9164924 3575000 4000000 500000 15000 641000 2300 575000 2300 575000 14850 59399 167118 67118 2000000 3934627 1214096 22731 234043 28260148 37089615 117643 10115 49974 75000 28437880 37164615 0.0001 0.0001 275000000 275000000 250000000 250000000 25000000 25000000 819516 819516 588403 588403 231113 231113 258529 258529 27416 27416 231113 231113 82 26 0.0001 0.0001 75000000 75000000 1 1 0 0 75515829 14890169 -78279713 -46766324 -2763802 -31876129 25674078 5288486 4527879 4561300 1422542 1444618 3105337 3116682 16548902 12905073 24179 7160 16573081 12912233 -13467744 -9795551 -3826176 -2448000 -2000000 -200000 88329 -62985 10 813 -1068447 -3047101 -4486027 -3047101 -4486027 680762 653208 -1071563 -4808882 -6529402 626000 1807000 572700 -115000 572700 -115000 -207570 -2752430 -2752430 1404863 51000 3063278 51000 3063278 693000 -34000 -88588 10176 80760 2725460 18045645 4610711 -31513389 -14406262 -31513389 -14406262 -418360 -31095029 -14406262 -69.75 -69.75 -59.98 -59.98 445817 445817 240199 240199 239382 24 8245980 -32360062 -24114058 11744 2 -17858561 -17858559 83 456234 456234 1104 6049766 6049766 1060 3346232 3346232 2293 7271368 7271368 9909 9909 600 3288000 3288000 2498965 2498965 2228 35 30761 30761 1245796 1245796 305719 305719 -14406262 -14406262 258529 26 14890169 -46766324 -31876129 26 14890169 -46766324 -31876129 18959 2 -2 1781 2540091 2540091 45416 5 4129995 4130000 1420 500000 500000 1200 115800 115800 3879 578833 578833 19000 2 784941 784943 947 334772 334772 -200 10456 1 6257367 6257368 418360 418360 -418360 -418360 17322 2 864 866 33085 3 1287000 1287003 4079225 4079225 2763161 2763161 2400 94800 94800 2908 115000 115000 28242 3 8866617 8866620 4000000 4000000 93056 9 1526106 1526115 19300805 19300805 1 7939 1 -1 4500 166501 166501 5560 1 216283 216284 60000 6 919694 919700 55000 6 880937 880943 117647 12 1164 1176 30470 3 27 30 1165680 1165680 -31513389 -31513389 1 819516 82 75515829 -78279713 -2763802 82 75515829 -78279713 -2763802 -31513389 -14406262 24179 7160 18462 -102112 3288000 -2448000 245252 200000 2000000 80760 747962 686016 1532475 513977 958822 1393785 2410735 1393785 2410735 137717 173245 1165680 1245796 680762 -4808882 -6529402 653208 -1071563 2725460 305719 626000 1807000 572700 -115000 572700 -115000 -207570 -2752430 -2752430 -1404863 51000 3063278 51000 3063278 693000 -34000 -88588 10176 -15828 -65479 -551645 407648 -27227 1708163 1012281 5339614 67118 -6315 283660 498051 4448867 -237607 -284963 -44549 -229700 -500000 10573 -10115 -75000 -9575403 -1550781 -82219 82219 -7615462 1200000 750000 2782438 1939583 283315 35040 100000 4387701 2602000 3235000 2583000 2583000 2072 880943 6257368 30761 8486963 2621000 -1006221 1070219 2093718 1023499 1087497 2093718 338393 955848 5113 9862 578833 784943 334772 94800 115000 166501 919700 200000 115800 2072 418360 1000000 1287003 2763161 4079225 1098614 7768006 4000000 12000 20826920 76269 111 24484460 3657540 9909 500000 3288000 2498965 2448000 2000000 3233097 456234 6049766 6049766 3346232 4130000 2540091 7271368 216284 216284 <p id="xdx_80D_eus-gaap--OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_zMONvMeP6zgc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>1. <span id="xdx_823_zcQFeyz2ccr2">Organization</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>The Business</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Banzai International, Inc. (the “Company” or “Banzai”) was incorporated in Delaware on <span id="xdx_90C_edei--EntityIncorporationDateOfIncorporation_c20250101__20250331_zszQaUoYWOV8">September 30, 2015</span>. Banzai is a leading enterprise SaaS Video Engagement platform used by marketers to power webinars, trainings, virtual events, and on-demand video content.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Reverse Stock Split</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On August 29, 2024, the Company held a special meeting of securityholders (the “Special Meeting”). At the Special Meeting, the Company’s securityholders approved the proposal to amend the Second Amended and Restated Certificate of Incorporation to effect a reverse stock split with respect to the Company’s issued and outstanding Class A Common Stock, at a ratio of up to 1-for-50, with the final ratio and exact timing to be determined at the discretion of the Board of Directors (the “Reverse Stock Split”). On September 10, 2024, the Board determined to effect a reverse stock split at a ratio of 1-for-50, effective as of September 19, 2024 and filed an amendment with the Secretary of State of the State of Delaware. The Class B Common Stock was not affected by the Reverse Stock Split.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">No cash or fractional shares were issued in connection with the Reverse Stock Split, and instead the Company rounded up to the next whole share in lieu of issuing factional shares that would have been issued in the reverse split. Proportional adjustments were made to the number of shares of Class A Common Stock issuable upon exercise or conversion of the Company’s outstanding stock options and warrants, the exercise price or conversion price (as applicable) of the Company’s outstanding stock options and warrants, and the number of shares reserved for issuance under the Company’s equity incentive plan. All Class A Common Stock share and per share information included herein has been retroactively adjusted to reflect the impact of the Reverse Stock Split.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Close of the Merger</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 14, 2023 (the “Closing Date”), 7GC &amp; Co. Holdings Inc. (“7GC”), our predecessor company, consummated the business combination pursuant to the Agreement and Plan of Merger and Reorganization, dated as of December 8, 2022 (the “Original Merger Agreement”), by and among 7GC, Banzai International, Inc. (“Legacy Banzai”), 7GC Merger Sub I, Inc., an indirect wholly owned subsidiary of 7GC (“First Merger Sub”), and 7GC Merger Sub II, LLC, a direct wholly owned subsidiary of 7GC (“Second Merger Sub”), as amended by the Amendment to Agreement and Plan of Merger, dated as of August 4, 2023 (the “Merger Agreement Amendment” and, together with the Original Merger Agreement, the “Merger Agreement”), by and between 7GC and Legacy Banzai.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the terms of the Merger Agreement, a business combination between 7GC and Legacy Banzai was effected through (a) the merger of First Merger Sub with and into Legacy Banzai, with Legacy Banzai surviving as a wholly-owned subsidiary of 7GC (Legacy Banzai, in its capacity as the surviving corporation of the merger, the “Surviving Corporation”) (the “First Merger”) and (b) the subsequent merger of the Surviving Corporation with and into Second Merger Sub, with Second Merger Sub being the surviving entity of the Second Merger, which ultimately resulted in Legacy Banzai becoming a wholly-owned direct subsidiary of 7GC (the “Second Merger” and, together with the First Merger, the “Mergers” and, collectively with the other transactions described in the Merger Agreement, the “Merger”). On the Closing Date, and in connection with the closing of the Merger (the “Closing”), 7GC changed its name to Banzai International, Inc.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Although 7GC was the legal acquirer of Legacy Banzai in the merger, Legacy Banzai is deemed to be the accounting acquirer, and the historical financial statements of Legacy Banzai became the basis for the historical financial statements of the Company upon the closing of the merger.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As a result, the financial statements included here reflect (i) the historical operating results of Legacy Banzai prior to the merger; (ii) the combined results of 7GC and Legacy Banzai following the close of the merger; (iii) the assets and liabilities of Legacy Banzai at their historical cost and (iv) the Legacy Banzai’s equity structure for all periods presented, as affected by the recapitalization presentation after completion of the merger.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The aggregate consideration payable to securityholders of Legacy Banzai at the Closing consisted of a number of shares of Class A Common Stock or shares of Class B Common Stock, and cash in lieu of any fractional shares of Class A Common Stock or shares of Class B Common Stock that would otherwise have been payable to any Legacy Banzai securityholders, equal to $<span id="xdx_905_eus-gaap--AssetAcquisitionConsiderationTransferred_c20250101__20250331__dei--LegalEntityAxis__custom--BanzaiInternationalIncMember_zqvWigHUAfs8" title="Asset acquisition, consideration transferred">100,000,000</span>. See <i>Note 4 - Reverse Merger Capitalization with 7GC &amp; Co. Holdings Inc. </i>for further details of the merger.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <b><i> </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Emerging Growth Company</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Upon closure of the Merger, the Company became an “emerging growth company,” as defined in Section 2(a) of the Securities Act of 1933, as amended, (the “Securities Act”), as modified by the Jumpstart our Business Startups Act of 2012, (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to public companies that are not emerging growth companies.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Section 102(b) (1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies are required to comply. Private companies are those companies that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act of 1934, as amended (the “Exchange Act”). The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies. Any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period, which means that when a standard is issued or revised, it adopts the new or revised standard at the time private companies adopt the new or revised standard. Therefore, the Company’s financial statements may not be comparable to certain public companies.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Reclassifications</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Certain amounts in the prior year’s consolidated financial statements, as of December 31, 2023 have been reclassified to conform to the current period’s presentation. This involved reclassifying the debt outstanding and associated interest expense on the debt outstanding with counterparty CP BF which were previously disclosed as Convertible Notes and Notes payable, and Interest expense, respectively, to Convertible notes - related party and Notes payable - related party, net of discount, and Interest expense - related party, respectively. This reclassification had no effect on the Company’s loss from operations, net loss, or net loss per share.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> 2015-09-30 100000000 <p id="xdx_807_eus-gaap--SubstantialDoubtAboutGoingConcernTextBlock_zIjYKR43HD1i" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>2. <span id="xdx_82C_zH3Bor9fpji5">Going Concern</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of December 31, 2024 the Company had cash of approximately $<span id="xdx_906_eus-gaap--Cash_iI_pn5n6_c20241231_zh95uHTsIpC1" title="Cash">1.1</span> million. For the year ended December 31, 2024, the Company used approximately $<span id="xdx_90C_eus-gaap--NetCashProvidedByUsedInOperatingActivities_iN_pn5n6_di_c20240101__20241231_zmN6yPPVMNGg" title="Net cash used in operating activities">9.6</span> million in cash for operating activities. The Company has incurred recurring net losses from operations and negative cash flows from operating activities since inception. As of December 31, 2024, the Company had an accumulated deficit of approximately $<span id="xdx_90B_eus-gaap--RetainedEarningsAccumulatedDeficit_iNI_pn5n6_di_c20241231_zA5CzJ4oq2f7" title="Accumulated deficit">78.3</span> million. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern within one year of the date these financial statements were issued.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The continuation of the Company as a going concern is dependent upon the continued financial support from its stockholders and debt holders. Specifically, continuation is contingent on the Company’s ability to obtain necessary equity or debt financing to continue operations, and ultimately the Company’s ability to generate profit from sales and positive operating cash flows, which is not assured.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company’s plans include obtaining future debt financings (see <i>Note 14</i>) and equity financings associated with the Yorkville SEPA (as defined in <i>Note 18</i>)<i>.</i> If the Company is unsuccessful in completing these planned transactions, it may be required to reduce its spending rate to align with expected revenue levels and cash reserves, although there can be no guarantee that it will be successful in doing so. Accordingly, the Company may be required to raise additional cash through debt or equity transactions. It may not be able to secure financing in a timely manner or on favorable terms, if at all. As a result, management’s plans cannot be considered probable and thus do not alleviate substantial doubt about the Company’s ability to continue as a going concern.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On <span id="xdx_905_eus-gaap--RestructuringAndRelatedActivitiesInitiationDate_c20240916__20240916_zJaiDCiJ8iv9" title="Reduction committed date">September 16, 2024</span>, the Company committed to a reduction in force (the “Reduction”) intended to decrease expenses and maintain a streamlined organization to support key programs and customers, and that is expected to conserve cash. As part of the Reduction, the Company reduced its headcount by <span id="xdx_905_eus-gaap--RestructuringAndRelatedCostNumberOfPositionsEliminated_uInteger_c20240916__20240916_zZ2KrAikCX36" title="Number of employees reduced as part of reduction">24</span> employees, which represented approximately <span id="xdx_902_eus-gaap--RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent_dp_uPure_c20240916__20240916_zTcr90jnmUe4" title="Percentage of employees reduced">34</span>% of the Company’s full-time employees as of September 15, 2024. The cost-saving measures from the Reduction reduced annual operating expenses by approximately $<span id="xdx_90D_ecustom--ActualDecreaseInAnnualOperatingExpensesDueToReduction_pn5n6_c20240916__20240916_zjNQ1eBf7Fze" title="Actual decrease in annual operating expenses due to reduction">0.8</span> million beginning in the fourth quarter of 2024. The Company incurred total restructuring charges of approximately $<span id="xdx_908_eus-gaap--RestructuringCharges_pn5n6_c20240916__20240916_zG3fWsKsbke" title="Restructuring Charges">0.1</span> million, including severance payments in connection with the Reduction. The Company completed the reduction in October, 2024.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">These accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern and do not include any adjustments that might result from the outcome of this uncertainty.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> 1100000 -9600000 -78300000 2024-09-16 24 0.34 800000 100000 <p id="xdx_806_eus-gaap--SignificantAccountingPoliciesTextBlock_z4hrn0NytiM4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>3. <span id="xdx_826_zo8dbJEYhYBf">Summary of Significant Accounting Policies</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p id="xdx_84F_eus-gaap--BasisOfPresentationAndSignificantAccountingPoliciesTextBlock_zexq1p0JwaPa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_860_zr7spZgW4hi1">Basis of Presentation</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company’s audited consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) as determined by the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and applicable regulations of the Securities and Exchange Commission (“SEC”) regarding annual financial reporting.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="-sec-ix-redline: true"><b><i>Reverse Stock Split</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="-sec-ix-redline: true"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 27, 2025, the stockholders of the Company collectively approved an amendment to the Company’s Certificate of Incorporation, as amended and restated, to effect a reverse stock split (the “2025 Reverse Stock Split”) of the Company’s outstanding Class A Common Stock and Class B Common Stock at a ratio of 1-for-10 without reduction in the total number of authorized shares of our Class A and Class B Common Stock. The “Reverse Stock Split” went effective on July 8, 2025. All references to shares of the Company’s Class A and Class B Common Stock in these financial statements refer to the number of shares of Class A and Class B Common Stock after giving effect to the Reverse Stock Split and are presented as if the Reverse Stock Split had occurred at the beginning of the earliest period presented.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_84B_eus-gaap--ConsolidationPolicyTextBlock_zR30OLDx2SY2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_86A_ztWozbHr8KX5">Principles of Consolidation</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The accompanying audited consolidated financial statements include the accounts of Banzai and its subsidiaries. The Company consolidates all entities over which the Company has the power to govern the financial and operating policies and therefore exercises control, and upon which the Company has a controlling financial interest. The existence and effect of both current voting rights and potential voting rights that are currently exercisable or convertible are considered when assessing whether control of an entity is exercised. The subsidiary is consolidated from the date at which the Company obtains control and is de-consolidated from the date at which control ceases. All intercompany balances and transactions have been eliminated. The accounting policies of the subsidiary has been changed where necessary to ensure consistency with the policies adopted by the Company.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the opinion of management, all necessary adjustments (consisting of normal recurring adjustments, intercompany adjustments, reclassifications and non-recurring adjustments) have been recorded to present fairly our financial position as of December 31, 2024 and 2023, respectively, and the results of operations and cash flows for the years ended December 31, 2024 and 2023, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_840_eus-gaap--UseOfEstimates_zU81bvVRpVMe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_863_zoU7gucSKye4">Use of Estimates</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosure of contingent assets and liabilities at the date of the audited consolidated financial statements and the reported amounts of revenues and expenses during the reporting period.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Making estimates requires management to exercise significant judgment. It is at least reasonably possible that estimates made as of the date of the financial statements could change in the near term due to one or more future events. Actual results could differ significantly from these estimates. Significant accounting estimates reflected in the Company’s consolidated financial statements include estimates of impairment of goodwill, recognition and measurement of convertible and Simple Agreement for Future Equity (SAFE) notes, including the associated embedded derivatives, determination of the fair value of the warrant liabilities and debt instruments reported at fair value, determination of the consideration transferred and purchase price allocated to assets acquired and liabilities assumed for acquisitions which are based on their estimated fair values at the date of acquisition, estimated useful lives of finite-lived intangible assets, and recognition and measurement of stock compensation.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p id="xdx_84E_ecustom--CertainRisksAndUncertaintiesPolicyTextBlock_zp523d3QS6J" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_86C_zW5vF2LQEpM5">Certain Risks and Uncertainties</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company’s business and operations are sensitive to general business and economic conditions. These conditions include short-term and long-term interest rates, inflation, fluctuations in debt and equity capital markets and the general condition of the world economy. A host of factors beyond the Company’s control could cause fluctuations in these conditions. Adverse developments in these general business and economic conditions could have a material adverse effect on the Company’s financial condition and the results of its operations. In addition, the Company will compete with many companies that currently have extensive and well-funded products, marketing and sales operations. The Company may be unable to compete successfully against these companies. The Company’s industry is characterized by rapid changes in technology and market demands. As a result, the Company’s products, services, or expertise may become obsolete or unmarketable. The Company’s future success will depend on its ability to adapt to technological advances, anticipate customer and market demands, and enhance its current technology. The Company is also subject to risks which include, but are not limited to, dependence on key personnel, reliance on third parties, successful integration of business acquisitions, protection of proprietary technology, and compliance with regulatory requirements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p id="xdx_847_eus-gaap--CashAndCashEquivalentsPolicyTextBlock_zp69KcMJrMk7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_865_z9tRQbRIi6Na">Cash</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company considers all highly liquid investments purchased with original maturities of 90 days or less to be cash equivalents. As of December 31, 2024 and 2023, respectively, the Company does <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFN1bW1hcnkgb2YgU2lnbmlmaWNhbnQgQWNjb3VudGluZyBQb2xpY2llcyAoRGV0YWlscyBOYXJyYXRpdmUpAA__" id="xdx_90A_eus-gaap--CashEquivalentsAtCarryingValue_iI_do_c20241231_zaaXRGUyNkWg" title="Cash equivalents"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFN1bW1hcnkgb2YgU2lnbmlmaWNhbnQgQWNjb3VudGluZyBQb2xpY2llcyAoRGV0YWlscyBOYXJyYXRpdmUpAA__" id="xdx_902_eus-gaap--CashEquivalentsAtCarryingValue_iI_do_c20231231_zCU5GxEQDXt6" title="Cash equivalents">no</span></span>t have any cash equivalents.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has no significant off-balance-sheet concentration of credit risk such as foreign exchange contracts, option contracts or other hedging arrangements. The Company holds cash in banks in excess of federally insured limits. However, the Company believes risk of loss is minimal as the cash is held by large highly rated financial institutions. To reduce its risk associated with the failure of such financial institutions, the Company evaluates at least annually the rating of the financial institutions in which it holds cash. Any material loss that the Company may experience in the future could have an adverse effect on its ability to pay its operational expenses or make other payments and may require the Company to move its cash to other high quality financial institutions. Currently, the Company is reviewing its bank relationships in order to mitigate its risk to ensure that its exposure is limited or reduced to the FDIC protection limits.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p id="xdx_846_eus-gaap--CreditLossFinancialInstrumentPolicyTextBlock_zhLfpOpopM5d" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_865_zozn7JuLGnMb">Accounts Receivable and Allowance for Credit Losses</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Accounts receivable consist of balances due from customers as well as from payment service providers. Payment terms range from due upon receipt, to net 30 days. Accounts receivable are stated net of an allowance for credit losses.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The allowance for expected credit losses is based on the probability of future collection under the current expected credited loss (“CECL”) impairment model which was adopted by the Company on January 1, 2023, as discussed below within Recent Accounting Pronouncements. The adoption of ASU No. 2016-13, Financial Instruments: Credit Losses (Topic 326) (“ASU 2016-13”) did not have a material impact on these consolidated financial statements. Account balances are written off after all means of collection are exhausted and the balance is deemed uncollectible. Subsequent recoveries are credited to the allowance. Changes in the allowance are recorded as adjustments to credit losses in the period incurred.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of December 31, 2024 and 2023, the Company determined an allowance for credit losses of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFN1bW1hcnkgb2YgU2lnbmlmaWNhbnQgQWNjb3VudGluZyBQb2xpY2llcyAoRGV0YWlscyBOYXJyYXRpdmUpAA__" id="xdx_90D_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iI_c20241231_zCOKkeeNrS7d" title="Allowance for credit losses">24,210</span> and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFN1bW1hcnkgb2YgU2lnbmlmaWNhbnQgQWNjb3VudGluZyBQb2xpY2llcyAoRGV0YWlscyBOYXJyYXRpdmUpAA__" id="xdx_905_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iI_c20231231_zSidrndIQlb9" title="Allowance for credit losses">5,748</span> was required, respectively. Further, for the years ended December 31, 2024 and 2023, the Company recognized bad debt expenses for accounts receivable balances of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFN1bW1hcnkgb2YgU2lnbmlmaWNhbnQgQWNjb3VudGluZyBQb2xpY2llcyAoRGV0YWlscyBOYXJyYXRpdmUpAA__" id="xdx_902_ecustom--BadDebtExpensesForAccountsReceivable_c20240101__20241231_zXEQ5nYBRNX7" title="Bad debt expenses for accounts receivable">18,462</span> and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFN1bW1hcnkgb2YgU2lnbmlmaWNhbnQgQWNjb3VudGluZyBQb2xpY2llcyAoRGV0YWlscyBOYXJyYXRpdmUpAA__" id="xdx_909_ecustom--BadDebtExpensesForAccountsReceivable_c20230101__20231231_zY1Aelz772z3" title="Bad debt expenses for accounts receivable">65,013</span>, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_89D_eus-gaap--AccountsReceivableAllowanceForCreditLossTableTextBlock_zUQKxowIOSbf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table presents changes in the allowance for credit losses for the year ended December 31, 2024:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span id="xdx_8B3_zYW7q9z67yVl" style="display: none">Summary of Changes in Allowance for Credit Losses</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_4B9_zNUBgG8Gbuql" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_431_c20240101__20241231_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iS_zh6qFcuRXP45" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 82%">Balance - December 31, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">5,748</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease_z1XehUaxEQNe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in provision for credit losses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">18,462</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_439_c20240101__20241231_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iE_ziKVS24qx4k9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Balance - December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">24,210</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A9_zYBAcwxOOHQ7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p id="xdx_84C_eus-gaap--CommissionsPolicy_zNeUbZMb1hsh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_861_zBwwSJjEqlSj">Deferred Sales Commissions</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Sales commissions earned by the Company’s sales force are considered incremental and recoverable costs of obtaining a contract with a customer. Sales commissions for initial contracts are deferred and then amortized on a straight-line basis over a period of benefit the Company has determined to be three (3) years. The Company determined the period of benefit by taking into consideration the average contractual customer term, technology obsolescence and other factors.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p id="xdx_844_eus-gaap--PropertyPlantAndEquipmentPolicyTextBlock_zvsJnXdYqrw4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_864_zJFdwqyOMvUf">Property and Equipment</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Property and equipment are recorded at cost and presented net of accumulated depreciation. Major additions and betterments are capitalized while maintenance and repairs, which do not improve or extend the life of the respective assets, are expensed. Property and equipment are depreciated on the straight-line basis over their estimated useful lives (<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFN1bW1hcnkgb2YgU2lnbmlmaWNhbnQgQWNjb3VudGluZyBQb2xpY2llcyAoRGV0YWlscyBOYXJyYXRpdmUpAA__" id="xdx_903_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dc_c20250331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_zd8jGu8bNfK2" title="Property and equipment estimated useful lives">3 years</span> for computer equipment).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p id="xdx_842_eus-gaap--ImpairmentOrDisposalOfLongLivedAssetsIncludingIntangibleAssetsPolicyPolicyTextBlock_zms4KBMqIpUk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_864_zdLmOxsLNSje">Intangible Assets and Impairment of Long-Lived Assets</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_89F_eus-gaap--ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock_zbPcDVWauMA3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Intangible assets are presented at fair value, net of amortization. The fair value is determined based on the appraised value of the asset. Intangible assets are composed of developed technology, trade names and customer lists (see <i>Note 5</i>), video material licenses, a web domain, and patents. Intangible assets subject to amortization consist of the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8B6_z1ScRrt72sM3" style="display: none">Schedule of Identifiable Intangible Assets Subject to Amortization</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Estimated <br/> Useful Life <br/> (years):</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49B_20241231_zI1eKyoip1Ek" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zDTJhXsvBzrl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 66%; text-align: left">Customer relationships</td><td style="width: 2%"> </td> <td style="width: 14%; text-align: center"><span id="xdx_904_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20240101__20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zXO0asR1xthh" title="Estimated Useful Life">7</span></td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">588,710</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zNCvB51s2uDc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Trade name</td><td> </td> <td style="text-align: center"><span id="xdx_905_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20240101__20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zY5ykjB34eVi" title="Estimated Useful Life">15</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">899,600</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember_zyCPg9S8qjye" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Technology</td><td> </td> <td style="text-align: center"><span id="xdx_903_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20240101__20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember_z1gKPtiOvrza" title="Estimated Useful Life">6</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,415,010</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_zjIjh9N1fbqj" style="vertical-align: bottom; background-color: White"> <td><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Intangible assets, gross</span></td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,903,320</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_zaoQK2aQrgSi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Less: Accumulated amortization</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(19,467</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_znelv6LfAoQ9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Intangible assets, net</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,883,853</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8A5_z6cWkBX7ADt6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">  </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Total amortization expense related to intangible assets was $<span id="xdx_90C_eus-gaap--AmortizationOfIntangibleAssets_c20240101__20241231_z516wPdGvrz1" title="Amortization expense">19,467</span> for the year ended December 31, 2024. Expected amortization expense is as follows:</p> <p id="xdx_895_eus-gaap--ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_zxATW1L88dl3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8BE_z2iJvURFmpjk" style="display: none">Schedule of Expected Amortization Expense</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_497_20241231_zhbNOp5lxs8h" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear_iI_zamYfAQk73ch" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Remainder </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4713">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_iI_zVq5Nf5nxIh3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 82%">Year Ending December 31, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">546,576</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_iI_zyKncI8s4qN1" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Year 1</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">546,576</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_iI_zyoxrkjM5Nrj" style="vertical-align: bottom; background-color: White"> <td>Year Ending December 31, 2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">546,576</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_iI_zNsUwH2VOge1" style="display: none; vertical-align: bottom; background-color: White"> <td>Year 2</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">546,576</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_iI_z4Mo7EdQVopi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Year Ending December 31, 2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">546,576</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_iI_zzAd7i132DP" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Year 3</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">546,576</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_iI_zvP7mGduflyj" style="vertical-align: bottom; background-color: White"> <td>Year Ending December 31, 2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">546,576</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_iI_zVfjZY3mnXVh" style="display: none; vertical-align: bottom; background-color: White"> <td>Year 4</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">546,576</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour_iI_ziGyTuw8WaB1" style="display: none; vertical-align: bottom; background-color: White"> <td>Thereafter</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4731">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_iI_zXZLleq59ixi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Year Ending December 31, 2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">546,576</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_iI_zoBMehdIk9n" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Year 5</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">546,576</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive_iI_zBcxi4YJBEp9" style="vertical-align: bottom; background-color: White"> <td>Thereafter</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,150,973</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_zaP1I7KwATli" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Total</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,883,853</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8AA_z56b0SUq2Uhk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company periodically evaluates its long-lived assets for potential impairment in accordance with ASC Topic 360, Property, Plant and Equipment <i>(</i>“<i>ASC 360</i>”). Potential impairment is assessed when there is evidence that events or changes in circumstances indicate that the carrying amount of an asset may not be recovered. The recoverability of these assets is assessed based on undiscounted expected future cash flows from the assets, considering a number of factors, including past operating results, budgets and economic projections, market trends and product development cycles. If impairments are identified, assets are written down to their estimated fair value. The Company has not recognized any impairment charges through December 31, 2024.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p id="xdx_842_eus-gaap--GoodwillAndIntangibleAssetsGoodwillPolicy_zJVw5LWo2Ri9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_86B_z3f5DTZRXFDd">Goodwill</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Goodwill represents the excess of the purchase price over the fair value of the net identifiable assets acquired in a business combination. Goodwill is reviewed for impairment at least annually, in December, or more frequently if a triggering event occurs between impairment testing dates. As of December 31, 2024, the Company had <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFN1bW1hcnkgb2YgU2lnbmlmaWNhbnQgQWNjb3VudGluZyBQb2xpY2llcyAoRGV0YWlscyBOYXJyYXRpdmUpAA__" id="xdx_907_eus-gaap--NumberOfOperatingSegments_dc_uPure_c20240101__20241231_z4Z9uaVltafg" title="Number of operating segments">two</span> operating segments, which were deemed to be its reporting units, for the purpose of evaluating goodwill impairment. Refer to <i>Note 21</i> for further discussion of the Company’s segment reporting.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company’s impairment assessment begins with a qualitative assessment to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying value. Qualitative factors may include, macroeconomic conditions, industry and market considerations, cost factors, and other relevant entity and Company specific events. If, based on the qualitative test, the Company determines that it is “more likely than not” that the fair value of a reporting unit is less than its carrying value, then we evaluate goodwill for impairment by comparing the fair value of our reporting unit to its respective carrying value, including its goodwill. If it is determined that it is not likely that the fair value of the reporting unit is less than its carrying value, then no further testing is required. The factors considered in the qualitative assessment include macroeconomic conditions, industry and market conditions and overall financial performance of the Company, among other factors. Under a quantitative assessment, the Company will estimate the fair value of the Company through a combination of income and market approach valuation methodologies.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company completed its annual goodwill impairment test as of December 31, 2024. For the annual test, the Company bypassed the qualitative assessment and proceeded directly to the quantitative impairment test based on the stock price of the Company on the measurement date and economic uncertainty. To perform the quantitative assessment, the Company estimated the fair value of equity using the market capitalization method of the market approach, consideration of initiatives unknown by the market and evaluation of any implied control premium. Management further supported the conclusions by assessing a combination of an income valuation methodology, comprising a discounted cash flow analysis and market valuation methodologies, comprising the guideline public company and guideline transaction methods.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The market capitalization method calculated the aggregate market value of the Company based on the total number of outstanding shares of common and preferred stock and the market prices of the shares as of the assessment date. The Company evaluated conditions that were unknown by the market as of the assessment date and how a market participant would evaluate an implied control premium for the Company. The implied control premium was supported using a discounted cash flow analysis that contemplated the present value of assumed market participant cost savings and synergies.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The discounted cash flow (“DCF”) estimated the present value of future cash flows. A DCF analysis requires significant judgment to model financial forecasts, which included revenue growth, cost of sales as a percentage of revenue, gross profit margin, operating expenses as a percentage of revenue, EBITDA margin, EBITDA growth, industry and economic trends, and other relevant considerations. For periods beyond those forecasted, a terminal value was estimated based on an assumed long-term growth rate, which was derived using the Gordon Growth Model. The discount rate applied to the forecasted cash flows was calculated using a build-up approach, which starts with the risk-free interest rate, which was then calibrated for market and small stock risk premiums, including a beta, equity risk, size, and small stock risk premiums to reflect risks and uncertainties in the financial market and in the Company’s business projections.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">  </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The market approach for the guideline public company method utilizes observable market data from comparable public companies, including revenue multiples, to estimate the Company’s fair value. This approach also incorporates a control premium to represent the Company’s expectation of a hypothetical acquisition. The market approach for the guideline transaction method utilizes observable transactions of actual prices paid for target companies that operated in comparable industries or markets facing similar risks. Both methods of the market approach require judgment in the selection of comparable companies or comparable transactions and includes those with similar business activities, and related operating environments.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The selection and assessment of qualitative factors used to determine whether it is more likely than not that the fair value of a reporting unit exceeds the carrying value involves significant judgment and estimates. Fair values may be determined using a combination of both income and market-based approaches. There was a $<span id="xdx_904_eus-gaap--GoodwillImpairmentLoss_pn5n6_c20240101__20241231_zAfyYPNyMXea" title="Goodwill impairment">2.7</span> million impairment of goodwill recorded to the OpenReel reporting unit for the year ended December 31, 2024, and <span id="xdx_902_eus-gaap--GoodwillImpairmentLoss_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--BanzaiOperatingCoMember_zageTe7SjIIk" title="Goodwill impairment">no</span> impairment of goodwill recognized on the Banzai Operating Co. reporting unit for the years ended December 31, 2024 and 2023, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p id="xdx_849_eus-gaap--DeferredChargesPolicyTextBlock_zBxH3UrfVeI" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_861_zFjZdVmQb1e2">Deferred Offering Costs</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In 2023, the Company capitalized fees related to the Merger Agreement (see <i>Note 1 - Organization</i> and <i>Note 4 - Merger</i>) as an asset. These fees were recognized as a reduction of equity, upon Closing of the Merger on December 14, 2023.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_890_ecustom--CapitalizedDeferredOfferingCostsTableTextBlock_zkwsk6gLQUVc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Capitalized deferred offering costs consisted of the following, as of December 14, 2023:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span id="xdx_8B4_zlvBkVIHLr4j" style="display: none">Summary of Capitalized Deferred Offering Costs</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20231214_zd7CRRC2Gu8d" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 14, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--DeferredCosts_iI_hsrt--ProductOrServiceAxis__custom--SPACRelatedLegalFeesMember_zFeA9gL5R9e3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 82%; text-align: left">SPAC-related legal fees</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">2,973,077</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredCosts_iI_hsrt--ProductOrServiceAxis__custom--InvestmentBankAdvisoryServicesMember_zYZIedClvdmk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Investment bank advisory services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">135,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--DeferredCosts_iI_hsrt--ProductOrServiceAxis__custom--FederalTradeCommissionFilingFeesMember_zd1VmpdkTO6j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Federal Trade Commission filing fees</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">125,020</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--DeferredCosts_iI_zSsv2yXAkcbd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total deferred offering costs capitalized</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,233,097</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AC_zaXZB0y81nle" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The entire balance of Deferred Offering Costs capitalized as of December 14, 2023, was reclassified to Additional Paid-in- Capital, on December 14, 2023, in connection with the closing of the Merger. As a result, there was <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFN1bW1hcnkgb2YgU2lnbmlmaWNhbnQgQWNjb3VudGluZyBQb2xpY2llcyAoRGV0YWlscyBOYXJyYXRpdmUpAA__" id="xdx_90D_eus-gaap--DeferredCosts_iI_dxL_c20231231_zHCDfGNVfWua" title="Deferred offering costs::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl4761">no</span></span> Deferred Offering Costs balance as of December 31, 2023.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p id="xdx_847_ecustom--WarrantLiabilitiesPolicyTextBlock_zuhfwBMPwDBj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_866_zlOWqdHnW8zk">Warrant Liabilities</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company does not use derivative instruments to hedge exposures to cash flow, market, or foreign currency risks. The Company evaluates all of its financial instruments, including issued stock purchase warrants, to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is re-assessed at the end of each reporting period.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Warrant Liability - related party</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The warrants originally issued in 7GC’s initial public offering (the “Public Warrants”) are recognized as derivative liabilities in accordance with ASC 815. Accordingly, the Company recognizes the warrant instruments as liabilities at fair value and adjusts the instruments to fair value at each reporting period. The liabilities are subject to re-measurement at each balance sheet date until exercise or expiration, and any change in fair value is recognized in the Company’s consolidated statements of operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Public Warrants were initially measured at fair value using a Monte Carlo simulation model and have subsequently been measured based on the listed market price of such warrants. Warrant liabilities are classified as current liabilities on the Company’s consolidated balance sheets.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Warrant Liability</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The GEM Warrants were not considered indexed to the issuer’s stock pursuant to ASC 815, as the holder’s ability to receive in lieu of the Warrant one percent of the total consideration received by the Company’s stockholders in connection with a Change of Control, where the surviving corporation is not publicly traded, adjusts the settlement value based on items outside the Company’s control in violation of the fixed-for-fixed option pricing model. As such, the Company recorded the Warrants as liabilities initially measured at fair value with subsequent changes in fair value recognized in earnings each reporting period.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">  </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The measurement of fair value was determined utilizing a Monte Carlo simulation considering all relevant assumptions current at the date of issuance (i.e., share price, exercise price, term, volatility, risk-free rate, probability of dilutive term of three years, and expected time to conversion).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p id="xdx_84F_ecustom--SimpleAgreementsForFutureEquityPolicyTextBlock_zgZvbWoZ9mt" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_865_zQehsu6aJcJi">Simple Agreements for Future Equity—SAFE</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company accounts for Simple Agreements for Future Equity (“SAFE”) at fair value in accordance with ASC 480 <i>Distinguishing Liabilities from Equity</i>. The SAFEs are subject to revaluation at the end of each reporting period, with changes in fair value recognized in the accompanying consolidated statement of operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p id="xdx_849_eus-gaap--ConcentrationRiskCreditRisk_zRSDAxX0f5K5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_86F_zMvOm9lYwata">Concentration of Business and Credit Risk</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash and cash equivalents and accounts receivable. The Company has no financial instruments with off-balance sheet risk of loss.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At December 31, 2024, one customer accounted for 10% or more of accounts receivable with a concentration of <span id="xdx_90E_ecustom--ConcentrationRiskPercentage_dp_uPure_c20240101__20241231__srt--MajorCustomersAxis__custom--CustomerOneMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zBWDZC9xfZV6" title="Concentration risk, percentage">14</span>% of the total accounts receivable balance. At December 31, 2023, no customers accounted for 10% or more of accounts receivable. For the years ended December 31, 2024 and 2023, no customers accounted for 10% or more of total revenues.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At December 31, 2024 and 2023, two suppliers and one supplier accounted for 10% or more of accounts payable, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p id="xdx_844_eus-gaap--EarningsPerSharePolicyTextBlock_zBYlNswXIeV6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_86A_zaYnCnyWrio">Loss Per Share</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Basic loss per share of common stock is computed by dividing net loss attributable to common stockholders by the weighted average number of shares of common stock outstanding and pre-funded warrants outstanding during the period. Diluted net loss per share excludes, when applicable, the potential impact of stock options and convertible preferred stock because their effect would be anti-dilutive due to the net loss. Since the Company had a net loss in each of the periods presented, basic and diluted net loss per common share are the same.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_894_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zne35uWxaEj3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The calculation of basic and diluted net loss per share attributable to common stock was as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8BB_zbuNywR6vGh5" style="display: none">Schedule of Basic and Diluted Net Loss Per Share</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20240101__20241231_z0X5pWc1pPD7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20230101__20231231_zhVHFopTBfUj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Year Ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_zNI9dHURAwui" style="vertical-align: bottom; background-color: White"> <td style="width: 64%; text-align: left">Net loss attributable to common shareholders—basic and diluted</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(31,095,029</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(14,406,262</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Weighted average shares—basic and diluted</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20240101__20241231_zLT18U5XWNQb" title="Weighted average shares - basic"><span id="xdx_908_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20240101__20241231_zFYHgDpApFHh" title="Weighted average shares - diluted">445,817</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20230101__20231231_zzsBANTPXDyb" title="Weighted average shares - basic"><span id="xdx_90A_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20230101__20231231_zLiQY2cUnbrg" title="Weighted average shares - diluted">240,199</span></span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net loss per share attributable to common shareholders—basic and diluted</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_908_eus-gaap--EarningsPerShareBasic_c20240101__20241231_zerHjCrOfV1l" title="Net loss per share attributable to common stock - basic"><span id="xdx_903_eus-gaap--EarningsPerShareDiluted_c20240101__20241231_zG66AoxOygp2" title="Net loss per share attributable to common stock - diluted">(69.75</span></span></td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_90D_eus-gaap--EarningsPerShareBasic_c20230101__20231231_zbxA2W1dGtKh" title="Net loss per share attributable to common stock - basic"><span id="xdx_903_eus-gaap--EarningsPerShareDiluted_c20230101__20231231_zOsLkvw95ls2" title="Net loss per share attributable to common stock - diluted">(59.98</span></span></td><td style="text-align: left">)</td></tr> </table> <p id="xdx_8A4_zDl7sboz2W79" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_89F_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_zIlDVyUVYQLc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Securities that were excluded from loss per share as their effect would be anti-dilutive due to the net loss position that could potentially be dilutive in future periods are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8BE_zFxvD5R6d7K6" style="display: none">Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20240101__20241231_zwILw6b6yzSg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20230101__20231231_zEZQvpMGgog1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zu3QRWpyQ2Al" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Options</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">2,566</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">1,496</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RestrictedStockUnitsRSUMember_zcFWZc2dIfvj" style="vertical-align: bottom; background-color: White"> <td>RSUs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">34,078</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4800">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--PublicWarrantsMember_zf30npS07pb4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Public warrant shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">23,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">23,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--GemWarrantsMember_zTQZOVLzVkIj" style="vertical-align: bottom; background-color: White"> <td>GEM warrant shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,657</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,657</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--CommonWarrantSharesMember_zr67HiSDqd86" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Common warrant shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">452,761</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4809">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--PlacementAgentWarrantSharesMember_zPyLlRNNYwtg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Placement agent warrant shares</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">10,490</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4812">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_zSsGr7zJGYrg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">524,552</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">26,153</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_zbxtEMAomoD1" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Antidilutive Securities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">524,552</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">26,153</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A9_zqQ51by4NcKi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>  </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_846_eus-gaap--LesseeLeasesPolicyTextBlock_zMCRWS6UjYNb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_86E_zvnUQQn42YV3">Leases</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company determines if an arrangement is a lease at inception and classifies its leases at commencement. Operating leases are presented as right-of-use (“ROU”) assets and the corresponding lease liabilities are included in operating lease liabilities, current and operating lease liabilities, non-current on the Company’s balance sheets. ROU assets represent the Company’s right to use an underlying asset, and lease liabilities represent the Company’s obligation for lease payments in exchange for the ability to use the asset for the duration of the lease term.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ROU assets and lease liabilities are recognized at commencement date and determined using the present value of the future minimum lease payments over the lease term. The Company uses an incremental borrowing rate based on estimated rate of interest for collateralized borrowing since the Company’s leases do not include an implicit interest rate. The estimated incremental borrowing rate considers market data, actual lease economic environment, and actual lease term at commencement date. The lease term may include options to extend when it is reasonably certain that the Company will exercise that option. In addition, the Company does not recognize short-term leases that have a term of twelve months or less as ROU assets or lease liabilities. The Company recognizes operating lease expense on a straight-line basis over the lease term.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has lease agreements which contain both lease and non-lease components, which it has elected to account for as a single lease component when the payments are fixed. As such, variable lease payments, including those not dependent on an index or rate, such as real estate taxes, common area maintenance, and other costs that are subject to fluctuation from period to period are not included in lease measurement.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company evaluates long-lived assets for recoverability if there are indicators of potential impairment. Indicators of potential impairment may include subleasing a location for less than the head lease cost. If there are indicators of potential impairment, the Company will test the assets for recoverability. If the undiscounted cash flows estimated to be generated are less than the carrying value of the underlying assets, the assets are deemed impaired. If it is determined that assets are impaired, an impairment loss is calculated based on the amount that the asset’s book value exceeds its fair value.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p id="xdx_84E_eus-gaap--RevenueRecognitionPolicyTextBlock_ztQEuksGAwlf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_868_zqElxTYItWqa">Revenue Recognition</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenue is generated through Banzai providing marketing and webinar platform subscription software service for a set period of time. The Statement of Work (“SOW”) or Invoice, and the accompanying documents are negotiated and signed by both parties (if applicable). Alternatively, customer contracting is achieved via self service and invoicing is initiated automatically once the customer accepts the terms and conditions on the platform, based on their selection of the desired subscription product. When execution or completion of the contract occurs, the contract is valid and revenue is earned when the service is provided for each period of performance, daily. The amount is paid by the customer based on the contract terms monthly, quarterly, or annually, with the majority paid via credit card processing.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company recognizes revenue in an amount that reflects the consideration to which it expects to be entitled in exchange for the transfer of promised services to its customers. To determine revenue recognition for contracts with customers, the Company performs the following steps described in ASC 606: (1) identifies the contract with the customer, or Step 1, (2) identifies the performance obligations in the contract, or Step 2, (3) determines the transaction price, or Step 3, (4) allocates the transaction price to the performance obligations in the contract, or Step 4, and (5) recognizes revenue when (or as) the entity satisfies a performance obligation, or Step 5.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenue from contracts with customers are not recorded until the Company has the approval and commitment from the parties, the rights of the parties are identified, payment terms are established, the contract has commercial substance and collectability of the consideration is probable. The Company also evaluates the following indicators, amongst others, when determining whether it is acting as a principal in the transaction (and therefore whether to record revenue on a gross basis): (i) whether the Company is primarily responsible for fulfilling the promise to provide the specified good or service, (ii) whether the Company has the inventory risk before the specified good or service has been transferred to a customer or after transfer of control to the customer and (iii) whether the Company has the discretion to establish the price for the specified good or service. If the terms of a transaction do not indicate that the Company is acting as a principal in the transaction, then the Company is acting as an agent in the transaction and therefore, the associated revenue is recognized on a net basis (that is revenue net of costs).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenue is recognized once control passes to the customer. The following indicators are evaluated in determining when control has passed to the customer: (i) whether the Company has a right to payment for the product or service, (ii) whether the customer has legal title to the product or service, (iii) whether the Company has transferred physical possession of the product or service to the customer, (iv) whether the customer has the significant risk and rewards of ownership of the product or service and (v) whether the customer has accepted the product or service. When an arrangement contains more than one performance obligation, the Company will allocate the transaction price to each performance obligation on a relative standalone selling price basis. The Company utilizes the observable price of products and services when they are sold separately to similar customers in order to estimate standalone selling price.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_845_eus-gaap--CostOfSalesPolicyTextBlock_zCNQUVug6oF4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_862_zOAECaURS1O2">Costs of Revenue</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Costs of revenue consist primarily of infrastructure, streaming service, data license and contracted services costs, as well as merchant fees and payroll costs.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p id="xdx_84A_eus-gaap--AdvertisingCostsPolicyTextBlock_z6RIh0n7HAG7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_861_zgtEXpps9oyf">Advertising Costs</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Advertising costs are expensed as incurred. Advertising costs were $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFN1bW1hcnkgb2YgU2lnbmlmaWNhbnQgQWNjb3VudGluZyBQb2xpY2llcyAoRGV0YWlscyBOYXJyYXRpdmUpAA__" id="xdx_904_eus-gaap--AdvertisingExpense_c20240101__20241231_zhuKXRSQmiMh" title="Advertising costs">467,897</span> and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFN1bW1hcnkgb2YgU2lnbmlmaWNhbnQgQWNjb3VudGluZyBQb2xpY2llcyAoRGV0YWlscyBOYXJyYXRpdmUpAA__" id="xdx_906_eus-gaap--AdvertisingExpense_c20230101__20231231_z9DgPf1eL9sh" title="Advertising costs">941,737</span> for the years ended December 31, 2024 and 2023, respectively, which are included in general and administrative expenses on the consolidated statements of operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p id="xdx_844_eus-gaap--ShareBasedCompensationOptionAndIncentivePlansPolicy_zc3F08BXHfN3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_867_zJciEMF8S0X2">Stock-Based Compensation</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company expenses stock-based compensation to employees and non-employees over the requisite service period based on the estimated grant-date fair value of the awards in accordance with ASC 718, <i>Stock Compensation</i>. The Company accounts for forfeitures as they occur. The Company estimates the fair value of stock option grants using the Black-Scholes option pricing model, and the assumptions used in calculating the fair value of stock-based awards represent management’s best estimates and involve inherent uncertainties and the application of management’s judgment.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p id="xdx_84C_eus-gaap--IncomeTaxPolicyTextBlock_zktdmqY44Smh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_86B_z2TmCqCgW0cj">Income Taxes</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Income taxes are recorded in accordance with ASC 740, <i>Income Taxes </i>(“ASC 740”), which provides for deferred taxes using an asset and liability approach. The Company recognizes deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Deferred tax assets and liabilities are determined based on the difference between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Valuation allowances are provided, if based upon the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The Company accounts for uncertain tax positions in accordance with the provisions of ASC 740. When uncertain tax positions exist, the Company recognizes the tax benefit of tax positions to the extent that the benefit would more likely than not be realized assuming examination by the taxing authority. The determination as to whether the tax benefit will more likely than not be realized is based upon the technical merits of the tax position as well as consideration of the available facts and circumstances. The Company recognizes any interest and penalties accrued related to unrecognized tax benefits as income tax expense.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p id="xdx_849_eus-gaap--DerivativesPolicyTextBlock_zsyw9tEUi1ni" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_867_zbOq3zpjzX1d">Derivative Financial Instruments</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company evaluates all its financial instruments to determine if such instruments contain features that qualify as embedded derivatives. Embedded derivatives must be separately measured from the host contract if all the requirements for bifurcation are met. The assessment of the conditions surrounding the bifurcation of embedded derivatives depends on the nature of the host contract. Bifurcated embedded derivatives are recognized at fair value, with changes in fair value recognized in the statement of operations each period. Bifurcated embedded derivatives are classified with the related host contract in the Company’s balance sheet. Refer to <i>Note 8 - Fair Value Measurements</i> and <i>Note 14 - Debt</i> for further detail.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p id="xdx_84B_ecustom--BridgeNotesFairValueOptionElectionPolicyPolicyTextBlock_zzOxt28d30vk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_86F_zPkDGxDtorgl">Bridge Notes - Fair Value Option Election</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company determined the Agile Notes and 1800 Diagonal Notes (The “Bridge Notes”) (as defined in <i>Note 11 - Debt</i>) were eligible for the fair value option, in accordance with ASC 825-10-50-28, and made such election to account for the Bridge Notes at fair value. The <i>fair value option</i> may be elected on an instrument-by-instrument basis and is irrevocable unless a new election date occurs. Additional term or other notes may be issued in subsequent periods where the Company would be able to make a <i>fair value option</i> election upon issuance provided eligibility criteria are met. The Company records the portion of the Bridge Notes that are issued and outstanding for accounting purposes at fair value with changes in fair value recorded in other income (expense), net in the condensed consolidated statement of operations, except for the portion of the total change in fair value that results from a change in the instrument-specific credit risk of the Bridge Notes, which is recorded in other comprehensive income (loss), if applicable. The <i>fair value option</i> election was made to align the accounting for the Bridge Notes with the Company’s financial reporting objectives and reduce operational effort to account for embedded features that otherwise would require bifurcation as a separate unit of account.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the <i>fair value option</i> election, direct and incremental debt issuance costs and consideration paid to the lender related to the Bridge Notes were expensed as incurred and recorded in other income (expense), net in the condensed consolidated statements of operations. Measurement of the change in fair value of the Bridge Notes includes accrued interest, whether paid-in-kind or cash.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <b><i> </i></b></p> <p id="xdx_847_eus-gaap--FairValueOfFinancialInstrumentsPolicy_zaWEAsuVHiH7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_86B_zArnWReLzFE6">Fair Value of Financial Instruments</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In accordance with FASB ASC 820 <i>Fair Value Measurements and Disclosures</i>, the Company uses a three-level hierarchy for fair value measurements of certain assets and liabilities for financial reporting purposes that distinguishes between market participant assumptions developed from market data obtained from outside sources (observable inputs) and the Company’s own assumptions about market participant assumptions developed from the best information available to us in the circumstances (unobservable inputs). The fair value hierarchy is divided into three levels based on the source of inputs as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Level 1: Quoted prices in active markets for identical assets or liabilities.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Level 2: Inputs other than Level 1 prices for similar assets or liabilities that are directly or indirectly observable in the marketplace.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Level 3: Unobservable inputs which are supported by little or no market activity and values determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant judgment or estimation.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The fair value measurements discussed herein are based upon certain market assumptions and pertinent information available to management during the years ended December 31, 2024 and 2023. The carrying amount of cash, accounts receivable, prepaid expenses and other current assets, accounts payable, accrued expenses, deferred revenue, and other current liabilities approximated their fair values as of December 31, 2024 and 2023.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p id="xdx_841_eus-gaap--BusinessCombinationsPolicy_z6ll5GTl6pPi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_86E_zo3i3UJhMPf7">Business Combinations</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The purchase price for acquisitions are allocated to the assets acquired and liabilities assumed based on their estimated fair values at the date of acquisition. The fair value of identifiable intangible assets is based on detailed valuations that use information and assumptions provided by management, including expected future cash flows. We allocate any excess purchase price over the fair value of the identifiable net assets and liabilities acquired to goodwill. Identifiable intangible assets with finite lives are amortized over their useful lives. Acquisition-related costs, including advisory, legal, accounting, valuation, and other costs, are expensed in the periods in which the costs are incurred. The results of operations of acquired businesses are included in the consolidated financial statements from the acquisition date. Refer to <i>Note 5</i> for further discussion.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p id="xdx_849_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zfnaWIZzxKa6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_86D_zq1UWl0ZjAo4">Recent Accounting Pronouncements</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Recent accounting pronouncements not yet effective</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In December 2023, the FASB issued ASU 2023-09, <i>Income Taxes (Topic 740), Improvements to income tax disclosures</i>, which enhances the disclosure requirements for the income tax rate reconciliation, domestic and foreign income taxes paid, requiring disclosure of disaggregated income taxes paid by jurisdiction, unrecognized tax benefits, and modifies other income tax-related disclosures. The amendments are effective for annual periods beginning after December 15, 2024. Early adoption is permitted and should be applied prospectively. The Company is currently evaluating the effect of adopting this guidance on its consolidated financial statements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In November 2024, the FASB issued ASU No. 2024-03, <i>Disaggregation of Income Statement Expenses (Subtopic 220-40)</i>. The ASU requires the disaggregated disclosure of specific expense categories, including purchases of inventory, employee compensation, depreciation, and amortization included in each relevant expense caption presented on the statement of operations. The guidance also requires disclosure of a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively, as well as the total amount of selling expenses and an entity’s definition of selling expenses. This guidance is effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027. Early adoption of the amendment is permitted. The Company is currently evaluating the guidance and its impact to its consolidated financial statements and related disclosures.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Recently adopted accounting pronouncements</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In November 2023, the FASB issued ASU 2023-07, <i>Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures</i>. The amendments improve reportable segment disclosure requirements through enhanced disclosures over significant segment expenses regularly provided to the Chief Operating Decision Maker (“CODM”), extending certain annual disclosures to interim periods, and through permitting more than one measure of segment profit or loss to be reported under certain conditions. The Company adopted this guidance effective December 31, 2024, on a retrospective basis. Refer to <i>Note 21</i> for further information.</p> <p id="xdx_858_zLEaEdKMThog" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_84F_eus-gaap--BasisOfPresentationAndSignificantAccountingPoliciesTextBlock_zexq1p0JwaPa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_860_zr7spZgW4hi1">Basis of Presentation</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company’s audited consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) as determined by the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and applicable regulations of the Securities and Exchange Commission (“SEC”) regarding annual financial reporting.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="-sec-ix-redline: true"><b><i>Reverse Stock Split</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="-sec-ix-redline: true"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 27, 2025, the stockholders of the Company collectively approved an amendment to the Company’s Certificate of Incorporation, as amended and restated, to effect a reverse stock split (the “2025 Reverse Stock Split”) of the Company’s outstanding Class A Common Stock and Class B Common Stock at a ratio of 1-for-10 without reduction in the total number of authorized shares of our Class A and Class B Common Stock. The “Reverse Stock Split” went effective on July 8, 2025. All references to shares of the Company’s Class A and Class B Common Stock in these financial statements refer to the number of shares of Class A and Class B Common Stock after giving effect to the Reverse Stock Split and are presented as if the Reverse Stock Split had occurred at the beginning of the earliest period presented.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_84B_eus-gaap--ConsolidationPolicyTextBlock_zR30OLDx2SY2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_86A_ztWozbHr8KX5">Principles of Consolidation</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The accompanying audited consolidated financial statements include the accounts of Banzai and its subsidiaries. The Company consolidates all entities over which the Company has the power to govern the financial and operating policies and therefore exercises control, and upon which the Company has a controlling financial interest. The existence and effect of both current voting rights and potential voting rights that are currently exercisable or convertible are considered when assessing whether control of an entity is exercised. The subsidiary is consolidated from the date at which the Company obtains control and is de-consolidated from the date at which control ceases. All intercompany balances and transactions have been eliminated. The accounting policies of the subsidiary has been changed where necessary to ensure consistency with the policies adopted by the Company.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the opinion of management, all necessary adjustments (consisting of normal recurring adjustments, intercompany adjustments, reclassifications and non-recurring adjustments) have been recorded to present fairly our financial position as of December 31, 2024 and 2023, respectively, and the results of operations and cash flows for the years ended December 31, 2024 and 2023, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_840_eus-gaap--UseOfEstimates_zU81bvVRpVMe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_863_zoU7gucSKye4">Use of Estimates</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosure of contingent assets and liabilities at the date of the audited consolidated financial statements and the reported amounts of revenues and expenses during the reporting period.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Making estimates requires management to exercise significant judgment. It is at least reasonably possible that estimates made as of the date of the financial statements could change in the near term due to one or more future events. Actual results could differ significantly from these estimates. Significant accounting estimates reflected in the Company’s consolidated financial statements include estimates of impairment of goodwill, recognition and measurement of convertible and Simple Agreement for Future Equity (SAFE) notes, including the associated embedded derivatives, determination of the fair value of the warrant liabilities and debt instruments reported at fair value, determination of the consideration transferred and purchase price allocated to assets acquired and liabilities assumed for acquisitions which are based on their estimated fair values at the date of acquisition, estimated useful lives of finite-lived intangible assets, and recognition and measurement of stock compensation.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p id="xdx_84E_ecustom--CertainRisksAndUncertaintiesPolicyTextBlock_zp523d3QS6J" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_86C_zW5vF2LQEpM5">Certain Risks and Uncertainties</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company’s business and operations are sensitive to general business and economic conditions. These conditions include short-term and long-term interest rates, inflation, fluctuations in debt and equity capital markets and the general condition of the world economy. A host of factors beyond the Company’s control could cause fluctuations in these conditions. Adverse developments in these general business and economic conditions could have a material adverse effect on the Company’s financial condition and the results of its operations. In addition, the Company will compete with many companies that currently have extensive and well-funded products, marketing and sales operations. The Company may be unable to compete successfully against these companies. The Company’s industry is characterized by rapid changes in technology and market demands. As a result, the Company’s products, services, or expertise may become obsolete or unmarketable. The Company’s future success will depend on its ability to adapt to technological advances, anticipate customer and market demands, and enhance its current technology. The Company is also subject to risks which include, but are not limited to, dependence on key personnel, reliance on third parties, successful integration of business acquisitions, protection of proprietary technology, and compliance with regulatory requirements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p id="xdx_847_eus-gaap--CashAndCashEquivalentsPolicyTextBlock_zp69KcMJrMk7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_865_z9tRQbRIi6Na">Cash</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company considers all highly liquid investments purchased with original maturities of 90 days or less to be cash equivalents. As of December 31, 2024 and 2023, respectively, the Company does <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFN1bW1hcnkgb2YgU2lnbmlmaWNhbnQgQWNjb3VudGluZyBQb2xpY2llcyAoRGV0YWlscyBOYXJyYXRpdmUpAA__" id="xdx_90A_eus-gaap--CashEquivalentsAtCarryingValue_iI_do_c20241231_zaaXRGUyNkWg" title="Cash equivalents"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFN1bW1hcnkgb2YgU2lnbmlmaWNhbnQgQWNjb3VudGluZyBQb2xpY2llcyAoRGV0YWlscyBOYXJyYXRpdmUpAA__" id="xdx_902_eus-gaap--CashEquivalentsAtCarryingValue_iI_do_c20231231_zCU5GxEQDXt6" title="Cash equivalents">no</span></span>t have any cash equivalents.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has no significant off-balance-sheet concentration of credit risk such as foreign exchange contracts, option contracts or other hedging arrangements. The Company holds cash in banks in excess of federally insured limits. However, the Company believes risk of loss is minimal as the cash is held by large highly rated financial institutions. To reduce its risk associated with the failure of such financial institutions, the Company evaluates at least annually the rating of the financial institutions in which it holds cash. Any material loss that the Company may experience in the future could have an adverse effect on its ability to pay its operational expenses or make other payments and may require the Company to move its cash to other high quality financial institutions. Currently, the Company is reviewing its bank relationships in order to mitigate its risk to ensure that its exposure is limited or reduced to the FDIC protection limits.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> 0 0 <p id="xdx_846_eus-gaap--CreditLossFinancialInstrumentPolicyTextBlock_zhLfpOpopM5d" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_865_zozn7JuLGnMb">Accounts Receivable and Allowance for Credit Losses</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Accounts receivable consist of balances due from customers as well as from payment service providers. Payment terms range from due upon receipt, to net 30 days. Accounts receivable are stated net of an allowance for credit losses.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The allowance for expected credit losses is based on the probability of future collection under the current expected credited loss (“CECL”) impairment model which was adopted by the Company on January 1, 2023, as discussed below within Recent Accounting Pronouncements. The adoption of ASU No. 2016-13, Financial Instruments: Credit Losses (Topic 326) (“ASU 2016-13”) did not have a material impact on these consolidated financial statements. Account balances are written off after all means of collection are exhausted and the balance is deemed uncollectible. Subsequent recoveries are credited to the allowance. Changes in the allowance are recorded as adjustments to credit losses in the period incurred.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of December 31, 2024 and 2023, the Company determined an allowance for credit losses of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFN1bW1hcnkgb2YgU2lnbmlmaWNhbnQgQWNjb3VudGluZyBQb2xpY2llcyAoRGV0YWlscyBOYXJyYXRpdmUpAA__" id="xdx_90D_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iI_c20241231_zCOKkeeNrS7d" title="Allowance for credit losses">24,210</span> and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFN1bW1hcnkgb2YgU2lnbmlmaWNhbnQgQWNjb3VudGluZyBQb2xpY2llcyAoRGV0YWlscyBOYXJyYXRpdmUpAA__" id="xdx_905_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iI_c20231231_zSidrndIQlb9" title="Allowance for credit losses">5,748</span> was required, respectively. Further, for the years ended December 31, 2024 and 2023, the Company recognized bad debt expenses for accounts receivable balances of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFN1bW1hcnkgb2YgU2lnbmlmaWNhbnQgQWNjb3VudGluZyBQb2xpY2llcyAoRGV0YWlscyBOYXJyYXRpdmUpAA__" id="xdx_902_ecustom--BadDebtExpensesForAccountsReceivable_c20240101__20241231_zXEQ5nYBRNX7" title="Bad debt expenses for accounts receivable">18,462</span> and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFN1bW1hcnkgb2YgU2lnbmlmaWNhbnQgQWNjb3VudGluZyBQb2xpY2llcyAoRGV0YWlscyBOYXJyYXRpdmUpAA__" id="xdx_909_ecustom--BadDebtExpensesForAccountsReceivable_c20230101__20231231_zY1Aelz772z3" title="Bad debt expenses for accounts receivable">65,013</span>, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_89D_eus-gaap--AccountsReceivableAllowanceForCreditLossTableTextBlock_zUQKxowIOSbf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table presents changes in the allowance for credit losses for the year ended December 31, 2024:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span id="xdx_8B3_zYW7q9z67yVl" style="display: none">Summary of Changes in Allowance for Credit Losses</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_4B9_zNUBgG8Gbuql" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_431_c20240101__20241231_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iS_zh6qFcuRXP45" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 82%">Balance - December 31, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">5,748</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease_z1XehUaxEQNe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in provision for credit losses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">18,462</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_439_c20240101__20241231_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iE_ziKVS24qx4k9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Balance - December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">24,210</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A9_zYBAcwxOOHQ7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> 24210 5748 18462 65013 <p id="xdx_89D_eus-gaap--AccountsReceivableAllowanceForCreditLossTableTextBlock_zUQKxowIOSbf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table presents changes in the allowance for credit losses for the year ended December 31, 2024:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span id="xdx_8B3_zYW7q9z67yVl" style="display: none">Summary of Changes in Allowance for Credit Losses</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_4B9_zNUBgG8Gbuql" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_431_c20240101__20241231_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iS_zh6qFcuRXP45" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 82%">Balance - December 31, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">5,748</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease_z1XehUaxEQNe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in provision for credit losses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">18,462</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_439_c20240101__20241231_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iE_ziKVS24qx4k9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Balance - December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">24,210</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 5748 18462 24210 <p id="xdx_84C_eus-gaap--CommissionsPolicy_zNeUbZMb1hsh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_861_zBwwSJjEqlSj">Deferred Sales Commissions</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Sales commissions earned by the Company’s sales force are considered incremental and recoverable costs of obtaining a contract with a customer. Sales commissions for initial contracts are deferred and then amortized on a straight-line basis over a period of benefit the Company has determined to be three (3) years. The Company determined the period of benefit by taking into consideration the average contractual customer term, technology obsolescence and other factors.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p id="xdx_844_eus-gaap--PropertyPlantAndEquipmentPolicyTextBlock_zvsJnXdYqrw4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_864_zJFdwqyOMvUf">Property and Equipment</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Property and equipment are recorded at cost and presented net of accumulated depreciation. Major additions and betterments are capitalized while maintenance and repairs, which do not improve or extend the life of the respective assets, are expensed. Property and equipment are depreciated on the straight-line basis over their estimated useful lives (<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFN1bW1hcnkgb2YgU2lnbmlmaWNhbnQgQWNjb3VudGluZyBQb2xpY2llcyAoRGV0YWlscyBOYXJyYXRpdmUpAA__" id="xdx_903_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dc_c20250331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_zd8jGu8bNfK2" title="Property and equipment estimated useful lives">3 years</span> for computer equipment).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> P3Y <p id="xdx_842_eus-gaap--ImpairmentOrDisposalOfLongLivedAssetsIncludingIntangibleAssetsPolicyPolicyTextBlock_zms4KBMqIpUk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_864_zdLmOxsLNSje">Intangible Assets and Impairment of Long-Lived Assets</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_89F_eus-gaap--ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock_zbPcDVWauMA3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Intangible assets are presented at fair value, net of amortization. The fair value is determined based on the appraised value of the asset. Intangible assets are composed of developed technology, trade names and customer lists (see <i>Note 5</i>), video material licenses, a web domain, and patents. Intangible assets subject to amortization consist of the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8B6_z1ScRrt72sM3" style="display: none">Schedule of Identifiable Intangible Assets Subject to Amortization</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Estimated <br/> Useful Life <br/> (years):</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49B_20241231_zI1eKyoip1Ek" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zDTJhXsvBzrl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 66%; text-align: left">Customer relationships</td><td style="width: 2%"> </td> <td style="width: 14%; text-align: center"><span id="xdx_904_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20240101__20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zXO0asR1xthh" title="Estimated Useful Life">7</span></td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">588,710</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zNCvB51s2uDc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Trade name</td><td> </td> <td style="text-align: center"><span id="xdx_905_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20240101__20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zY5ykjB34eVi" title="Estimated Useful Life">15</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">899,600</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember_zyCPg9S8qjye" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Technology</td><td> </td> <td style="text-align: center"><span id="xdx_903_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20240101__20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember_z1gKPtiOvrza" title="Estimated Useful Life">6</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,415,010</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_zjIjh9N1fbqj" style="vertical-align: bottom; background-color: White"> <td><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Intangible assets, gross</span></td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,903,320</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_zaoQK2aQrgSi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Less: Accumulated amortization</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(19,467</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_znelv6LfAoQ9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Intangible assets, net</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,883,853</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8A5_z6cWkBX7ADt6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">  </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Total amortization expense related to intangible assets was $<span id="xdx_90C_eus-gaap--AmortizationOfIntangibleAssets_c20240101__20241231_z516wPdGvrz1" title="Amortization expense">19,467</span> for the year ended December 31, 2024. Expected amortization expense is as follows:</p> <p id="xdx_895_eus-gaap--ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_zxATW1L88dl3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8BE_z2iJvURFmpjk" style="display: none">Schedule of Expected Amortization Expense</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_497_20241231_zhbNOp5lxs8h" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear_iI_zamYfAQk73ch" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Remainder </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4713">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_iI_zVq5Nf5nxIh3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 82%">Year Ending December 31, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">546,576</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_iI_zyKncI8s4qN1" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Year 1</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">546,576</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_iI_zyoxrkjM5Nrj" style="vertical-align: bottom; background-color: White"> <td>Year Ending December 31, 2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">546,576</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_iI_zNsUwH2VOge1" style="display: none; vertical-align: bottom; background-color: White"> <td>Year 2</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">546,576</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_iI_z4Mo7EdQVopi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Year Ending December 31, 2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">546,576</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_iI_zzAd7i132DP" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Year 3</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">546,576</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_iI_zvP7mGduflyj" style="vertical-align: bottom; background-color: White"> <td>Year Ending December 31, 2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">546,576</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_iI_zVfjZY3mnXVh" style="display: none; vertical-align: bottom; background-color: White"> <td>Year 4</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">546,576</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour_iI_ziGyTuw8WaB1" style="display: none; vertical-align: bottom; background-color: White"> <td>Thereafter</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4731">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_iI_zXZLleq59ixi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Year Ending December 31, 2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">546,576</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_iI_zoBMehdIk9n" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Year 5</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">546,576</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive_iI_zBcxi4YJBEp9" style="vertical-align: bottom; background-color: White"> <td>Thereafter</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,150,973</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_zaP1I7KwATli" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Total</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,883,853</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8AA_z56b0SUq2Uhk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company periodically evaluates its long-lived assets for potential impairment in accordance with ASC Topic 360, Property, Plant and Equipment <i>(</i>“<i>ASC 360</i>”). Potential impairment is assessed when there is evidence that events or changes in circumstances indicate that the carrying amount of an asset may not be recovered. The recoverability of these assets is assessed based on undiscounted expected future cash flows from the assets, considering a number of factors, including past operating results, budgets and economic projections, market trends and product development cycles. If impairments are identified, assets are written down to their estimated fair value. The Company has not recognized any impairment charges through December 31, 2024.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p id="xdx_89F_eus-gaap--ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock_zbPcDVWauMA3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Intangible assets are presented at fair value, net of amortization. The fair value is determined based on the appraised value of the asset. Intangible assets are composed of developed technology, trade names and customer lists (see <i>Note 5</i>), video material licenses, a web domain, and patents. Intangible assets subject to amortization consist of the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8B6_z1ScRrt72sM3" style="display: none">Schedule of Identifiable Intangible Assets Subject to Amortization</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Estimated <br/> Useful Life <br/> (years):</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49B_20241231_zI1eKyoip1Ek" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zDTJhXsvBzrl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 66%; text-align: left">Customer relationships</td><td style="width: 2%"> </td> <td style="width: 14%; text-align: center"><span id="xdx_904_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20240101__20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zXO0asR1xthh" title="Estimated Useful Life">7</span></td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">588,710</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zNCvB51s2uDc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Trade name</td><td> </td> <td style="text-align: center"><span id="xdx_905_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20240101__20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zY5ykjB34eVi" title="Estimated Useful Life">15</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">899,600</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember_zyCPg9S8qjye" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Technology</td><td> </td> <td style="text-align: center"><span id="xdx_903_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20240101__20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember_z1gKPtiOvrza" title="Estimated Useful Life">6</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,415,010</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_zjIjh9N1fbqj" style="vertical-align: bottom; background-color: White"> <td><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Intangible assets, gross</span></td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,903,320</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_zaoQK2aQrgSi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Less: Accumulated amortization</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(19,467</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_znelv6LfAoQ9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Intangible assets, net</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,883,853</td><td style="text-align: left"> </td></tr> </table> P7Y 588710 P15Y 899600 P6Y 2415010 3903320 -19467 3883853 19467 <p id="xdx_895_eus-gaap--ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_zxATW1L88dl3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8BE_z2iJvURFmpjk" style="display: none">Schedule of Expected Amortization Expense</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_497_20241231_zhbNOp5lxs8h" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear_iI_zamYfAQk73ch" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Remainder </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4713">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_iI_zVq5Nf5nxIh3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 82%">Year Ending December 31, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">546,576</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_iI_zyKncI8s4qN1" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Year 1</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">546,576</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_iI_zyoxrkjM5Nrj" style="vertical-align: bottom; background-color: White"> <td>Year Ending December 31, 2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">546,576</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_iI_zNsUwH2VOge1" style="display: none; vertical-align: bottom; background-color: White"> <td>Year 2</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">546,576</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_iI_z4Mo7EdQVopi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Year Ending December 31, 2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">546,576</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_iI_zzAd7i132DP" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Year 3</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">546,576</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_iI_zvP7mGduflyj" style="vertical-align: bottom; background-color: White"> <td>Year Ending December 31, 2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">546,576</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_iI_zVfjZY3mnXVh" style="display: none; vertical-align: bottom; background-color: White"> <td>Year 4</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">546,576</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour_iI_ziGyTuw8WaB1" style="display: none; vertical-align: bottom; background-color: White"> <td>Thereafter</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4731">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_iI_zXZLleq59ixi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Year Ending December 31, 2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">546,576</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_iI_zoBMehdIk9n" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Year 5</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">546,576</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive_iI_zBcxi4YJBEp9" style="vertical-align: bottom; background-color: White"> <td>Thereafter</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,150,973</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_zaP1I7KwATli" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Total</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,883,853</td><td style="text-align: left"> </td></tr> </table> 546576 546576 546576 546576 546576 546576 546576 546576 546576 546576 1150973 3883853 <p id="xdx_842_eus-gaap--GoodwillAndIntangibleAssetsGoodwillPolicy_zJVw5LWo2Ri9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_86B_z3f5DTZRXFDd">Goodwill</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Goodwill represents the excess of the purchase price over the fair value of the net identifiable assets acquired in a business combination. Goodwill is reviewed for impairment at least annually, in December, or more frequently if a triggering event occurs between impairment testing dates. As of December 31, 2024, the Company had <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFN1bW1hcnkgb2YgU2lnbmlmaWNhbnQgQWNjb3VudGluZyBQb2xpY2llcyAoRGV0YWlscyBOYXJyYXRpdmUpAA__" id="xdx_907_eus-gaap--NumberOfOperatingSegments_dc_uPure_c20240101__20241231_z4Z9uaVltafg" title="Number of operating segments">two</span> operating segments, which were deemed to be its reporting units, for the purpose of evaluating goodwill impairment. Refer to <i>Note 21</i> for further discussion of the Company’s segment reporting.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company’s impairment assessment begins with a qualitative assessment to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying value. Qualitative factors may include, macroeconomic conditions, industry and market considerations, cost factors, and other relevant entity and Company specific events. If, based on the qualitative test, the Company determines that it is “more likely than not” that the fair value of a reporting unit is less than its carrying value, then we evaluate goodwill for impairment by comparing the fair value of our reporting unit to its respective carrying value, including its goodwill. If it is determined that it is not likely that the fair value of the reporting unit is less than its carrying value, then no further testing is required. The factors considered in the qualitative assessment include macroeconomic conditions, industry and market conditions and overall financial performance of the Company, among other factors. Under a quantitative assessment, the Company will estimate the fair value of the Company through a combination of income and market approach valuation methodologies.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company completed its annual goodwill impairment test as of December 31, 2024. For the annual test, the Company bypassed the qualitative assessment and proceeded directly to the quantitative impairment test based on the stock price of the Company on the measurement date and economic uncertainty. To perform the quantitative assessment, the Company estimated the fair value of equity using the market capitalization method of the market approach, consideration of initiatives unknown by the market and evaluation of any implied control premium. Management further supported the conclusions by assessing a combination of an income valuation methodology, comprising a discounted cash flow analysis and market valuation methodologies, comprising the guideline public company and guideline transaction methods.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The market capitalization method calculated the aggregate market value of the Company based on the total number of outstanding shares of common and preferred stock and the market prices of the shares as of the assessment date. The Company evaluated conditions that were unknown by the market as of the assessment date and how a market participant would evaluate an implied control premium for the Company. The implied control premium was supported using a discounted cash flow analysis that contemplated the present value of assumed market participant cost savings and synergies.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The discounted cash flow (“DCF”) estimated the present value of future cash flows. A DCF analysis requires significant judgment to model financial forecasts, which included revenue growth, cost of sales as a percentage of revenue, gross profit margin, operating expenses as a percentage of revenue, EBITDA margin, EBITDA growth, industry and economic trends, and other relevant considerations. For periods beyond those forecasted, a terminal value was estimated based on an assumed long-term growth rate, which was derived using the Gordon Growth Model. The discount rate applied to the forecasted cash flows was calculated using a build-up approach, which starts with the risk-free interest rate, which was then calibrated for market and small stock risk premiums, including a beta, equity risk, size, and small stock risk premiums to reflect risks and uncertainties in the financial market and in the Company’s business projections.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">  </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The market approach for the guideline public company method utilizes observable market data from comparable public companies, including revenue multiples, to estimate the Company’s fair value. This approach also incorporates a control premium to represent the Company’s expectation of a hypothetical acquisition. The market approach for the guideline transaction method utilizes observable transactions of actual prices paid for target companies that operated in comparable industries or markets facing similar risks. Both methods of the market approach require judgment in the selection of comparable companies or comparable transactions and includes those with similar business activities, and related operating environments.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The selection and assessment of qualitative factors used to determine whether it is more likely than not that the fair value of a reporting unit exceeds the carrying value involves significant judgment and estimates. Fair values may be determined using a combination of both income and market-based approaches. There was a $<span id="xdx_904_eus-gaap--GoodwillImpairmentLoss_pn5n6_c20240101__20241231_zAfyYPNyMXea" title="Goodwill impairment">2.7</span> million impairment of goodwill recorded to the OpenReel reporting unit for the year ended December 31, 2024, and <span id="xdx_902_eus-gaap--GoodwillImpairmentLoss_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--BanzaiOperatingCoMember_zageTe7SjIIk" title="Goodwill impairment">no</span> impairment of goodwill recognized on the Banzai Operating Co. reporting unit for the years ended December 31, 2024 and 2023, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> 2 2700000 <p id="xdx_849_eus-gaap--DeferredChargesPolicyTextBlock_zBxH3UrfVeI" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_861_zFjZdVmQb1e2">Deferred Offering Costs</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In 2023, the Company capitalized fees related to the Merger Agreement (see <i>Note 1 - Organization</i> and <i>Note 4 - Merger</i>) as an asset. These fees were recognized as a reduction of equity, upon Closing of the Merger on December 14, 2023.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_890_ecustom--CapitalizedDeferredOfferingCostsTableTextBlock_zkwsk6gLQUVc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Capitalized deferred offering costs consisted of the following, as of December 14, 2023:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span id="xdx_8B4_zlvBkVIHLr4j" style="display: none">Summary of Capitalized Deferred Offering Costs</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20231214_zd7CRRC2Gu8d" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 14, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--DeferredCosts_iI_hsrt--ProductOrServiceAxis__custom--SPACRelatedLegalFeesMember_zFeA9gL5R9e3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 82%; text-align: left">SPAC-related legal fees</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">2,973,077</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredCosts_iI_hsrt--ProductOrServiceAxis__custom--InvestmentBankAdvisoryServicesMember_zYZIedClvdmk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Investment bank advisory services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">135,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--DeferredCosts_iI_hsrt--ProductOrServiceAxis__custom--FederalTradeCommissionFilingFeesMember_zd1VmpdkTO6j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Federal Trade Commission filing fees</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">125,020</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--DeferredCosts_iI_zSsv2yXAkcbd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total deferred offering costs capitalized</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,233,097</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AC_zaXZB0y81nle" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The entire balance of Deferred Offering Costs capitalized as of December 14, 2023, was reclassified to Additional Paid-in- Capital, on December 14, 2023, in connection with the closing of the Merger. As a result, there was <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFN1bW1hcnkgb2YgU2lnbmlmaWNhbnQgQWNjb3VudGluZyBQb2xpY2llcyAoRGV0YWlscyBOYXJyYXRpdmUpAA__" id="xdx_90D_eus-gaap--DeferredCosts_iI_dxL_c20231231_zHCDfGNVfWua" title="Deferred offering costs::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl4761">no</span></span> Deferred Offering Costs balance as of December 31, 2023.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p id="xdx_890_ecustom--CapitalizedDeferredOfferingCostsTableTextBlock_zkwsk6gLQUVc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Capitalized deferred offering costs consisted of the following, as of December 14, 2023:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span id="xdx_8B4_zlvBkVIHLr4j" style="display: none">Summary of Capitalized Deferred Offering Costs</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20231214_zd7CRRC2Gu8d" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 14, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--DeferredCosts_iI_hsrt--ProductOrServiceAxis__custom--SPACRelatedLegalFeesMember_zFeA9gL5R9e3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 82%; text-align: left">SPAC-related legal fees</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">2,973,077</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredCosts_iI_hsrt--ProductOrServiceAxis__custom--InvestmentBankAdvisoryServicesMember_zYZIedClvdmk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Investment bank advisory services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">135,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--DeferredCosts_iI_hsrt--ProductOrServiceAxis__custom--FederalTradeCommissionFilingFeesMember_zd1VmpdkTO6j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Federal Trade Commission filing fees</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">125,020</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--DeferredCosts_iI_zSsv2yXAkcbd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total deferred offering costs capitalized</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,233,097</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 2973077 135000 125020 3233097 <p id="xdx_847_ecustom--WarrantLiabilitiesPolicyTextBlock_zuhfwBMPwDBj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_866_zlOWqdHnW8zk">Warrant Liabilities</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company does not use derivative instruments to hedge exposures to cash flow, market, or foreign currency risks. The Company evaluates all of its financial instruments, including issued stock purchase warrants, to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is re-assessed at the end of each reporting period.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Warrant Liability - related party</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The warrants originally issued in 7GC’s initial public offering (the “Public Warrants”) are recognized as derivative liabilities in accordance with ASC 815. Accordingly, the Company recognizes the warrant instruments as liabilities at fair value and adjusts the instruments to fair value at each reporting period. The liabilities are subject to re-measurement at each balance sheet date until exercise or expiration, and any change in fair value is recognized in the Company’s consolidated statements of operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Public Warrants were initially measured at fair value using a Monte Carlo simulation model and have subsequently been measured based on the listed market price of such warrants. Warrant liabilities are classified as current liabilities on the Company’s consolidated balance sheets.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Warrant Liability</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The GEM Warrants were not considered indexed to the issuer’s stock pursuant to ASC 815, as the holder’s ability to receive in lieu of the Warrant one percent of the total consideration received by the Company’s stockholders in connection with a Change of Control, where the surviving corporation is not publicly traded, adjusts the settlement value based on items outside the Company’s control in violation of the fixed-for-fixed option pricing model. As such, the Company recorded the Warrants as liabilities initially measured at fair value with subsequent changes in fair value recognized in earnings each reporting period.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">  </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The measurement of fair value was determined utilizing a Monte Carlo simulation considering all relevant assumptions current at the date of issuance (i.e., share price, exercise price, term, volatility, risk-free rate, probability of dilutive term of three years, and expected time to conversion).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p id="xdx_84F_ecustom--SimpleAgreementsForFutureEquityPolicyTextBlock_zgZvbWoZ9mt" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_865_zQehsu6aJcJi">Simple Agreements for Future Equity—SAFE</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company accounts for Simple Agreements for Future Equity (“SAFE”) at fair value in accordance with ASC 480 <i>Distinguishing Liabilities from Equity</i>. The SAFEs are subject to revaluation at the end of each reporting period, with changes in fair value recognized in the accompanying consolidated statement of operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p id="xdx_849_eus-gaap--ConcentrationRiskCreditRisk_zRSDAxX0f5K5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_86F_zMvOm9lYwata">Concentration of Business and Credit Risk</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash and cash equivalents and accounts receivable. The Company has no financial instruments with off-balance sheet risk of loss.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At December 31, 2024, one customer accounted for 10% or more of accounts receivable with a concentration of <span id="xdx_90E_ecustom--ConcentrationRiskPercentage_dp_uPure_c20240101__20241231__srt--MajorCustomersAxis__custom--CustomerOneMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zBWDZC9xfZV6" title="Concentration risk, percentage">14</span>% of the total accounts receivable balance. At December 31, 2023, no customers accounted for 10% or more of accounts receivable. For the years ended December 31, 2024 and 2023, no customers accounted for 10% or more of total revenues.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At December 31, 2024 and 2023, two suppliers and one supplier accounted for 10% or more of accounts payable, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> 0.14 <p id="xdx_844_eus-gaap--EarningsPerSharePolicyTextBlock_zBYlNswXIeV6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_86A_zaYnCnyWrio">Loss Per Share</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Basic loss per share of common stock is computed by dividing net loss attributable to common stockholders by the weighted average number of shares of common stock outstanding and pre-funded warrants outstanding during the period. Diluted net loss per share excludes, when applicable, the potential impact of stock options and convertible preferred stock because their effect would be anti-dilutive due to the net loss. Since the Company had a net loss in each of the periods presented, basic and diluted net loss per common share are the same.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_894_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zne35uWxaEj3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The calculation of basic and diluted net loss per share attributable to common stock was as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8BB_zbuNywR6vGh5" style="display: none">Schedule of Basic and Diluted Net Loss Per Share</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20240101__20241231_z0X5pWc1pPD7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20230101__20231231_zhVHFopTBfUj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Year Ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_zNI9dHURAwui" style="vertical-align: bottom; background-color: White"> <td style="width: 64%; text-align: left">Net loss attributable to common shareholders—basic and diluted</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(31,095,029</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(14,406,262</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Weighted average shares—basic and diluted</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20240101__20241231_zLT18U5XWNQb" title="Weighted average shares - basic"><span id="xdx_908_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20240101__20241231_zFYHgDpApFHh" title="Weighted average shares - diluted">445,817</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20230101__20231231_zzsBANTPXDyb" title="Weighted average shares - basic"><span id="xdx_90A_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20230101__20231231_zLiQY2cUnbrg" title="Weighted average shares - diluted">240,199</span></span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net loss per share attributable to common shareholders—basic and diluted</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_908_eus-gaap--EarningsPerShareBasic_c20240101__20241231_zerHjCrOfV1l" title="Net loss per share attributable to common stock - basic"><span id="xdx_903_eus-gaap--EarningsPerShareDiluted_c20240101__20241231_zG66AoxOygp2" title="Net loss per share attributable to common stock - diluted">(69.75</span></span></td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_90D_eus-gaap--EarningsPerShareBasic_c20230101__20231231_zbxA2W1dGtKh" title="Net loss per share attributable to common stock - basic"><span id="xdx_903_eus-gaap--EarningsPerShareDiluted_c20230101__20231231_zOsLkvw95ls2" title="Net loss per share attributable to common stock - diluted">(59.98</span></span></td><td style="text-align: left">)</td></tr> </table> <p id="xdx_8A4_zDl7sboz2W79" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_89F_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_zIlDVyUVYQLc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Securities that were excluded from loss per share as their effect would be anti-dilutive due to the net loss position that could potentially be dilutive in future periods are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8BE_zFxvD5R6d7K6" style="display: none">Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20240101__20241231_zwILw6b6yzSg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20230101__20231231_zEZQvpMGgog1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zu3QRWpyQ2Al" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Options</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">2,566</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">1,496</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RestrictedStockUnitsRSUMember_zcFWZc2dIfvj" style="vertical-align: bottom; background-color: White"> <td>RSUs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">34,078</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4800">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--PublicWarrantsMember_zf30npS07pb4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Public warrant shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">23,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">23,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--GemWarrantsMember_zTQZOVLzVkIj" style="vertical-align: bottom; background-color: White"> <td>GEM warrant shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,657</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,657</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--CommonWarrantSharesMember_zr67HiSDqd86" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Common warrant shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">452,761</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4809">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--PlacementAgentWarrantSharesMember_zPyLlRNNYwtg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Placement agent warrant shares</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">10,490</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4812">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_zSsGr7zJGYrg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">524,552</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">26,153</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_zbxtEMAomoD1" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Antidilutive Securities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">524,552</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">26,153</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A9_zqQ51by4NcKi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>  </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_894_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zne35uWxaEj3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The calculation of basic and diluted net loss per share attributable to common stock was as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8BB_zbuNywR6vGh5" style="display: none">Schedule of Basic and Diluted Net Loss Per Share</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20240101__20241231_z0X5pWc1pPD7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20230101__20231231_zhVHFopTBfUj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Year Ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_zNI9dHURAwui" style="vertical-align: bottom; background-color: White"> <td style="width: 64%; text-align: left">Net loss attributable to common shareholders—basic and diluted</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(31,095,029</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(14,406,262</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Weighted average shares—basic and diluted</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20240101__20241231_zLT18U5XWNQb" title="Weighted average shares - basic"><span id="xdx_908_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20240101__20241231_zFYHgDpApFHh" title="Weighted average shares - diluted">445,817</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20230101__20231231_zzsBANTPXDyb" title="Weighted average shares - basic"><span id="xdx_90A_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20230101__20231231_zLiQY2cUnbrg" title="Weighted average shares - diluted">240,199</span></span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net loss per share attributable to common shareholders—basic and diluted</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_908_eus-gaap--EarningsPerShareBasic_c20240101__20241231_zerHjCrOfV1l" title="Net loss per share attributable to common stock - basic"><span id="xdx_903_eus-gaap--EarningsPerShareDiluted_c20240101__20241231_zG66AoxOygp2" title="Net loss per share attributable to common stock - diluted">(69.75</span></span></td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_90D_eus-gaap--EarningsPerShareBasic_c20230101__20231231_zbxA2W1dGtKh" title="Net loss per share attributable to common stock - basic"><span id="xdx_903_eus-gaap--EarningsPerShareDiluted_c20230101__20231231_zOsLkvw95ls2" title="Net loss per share attributable to common stock - diluted">(59.98</span></span></td><td style="text-align: left">)</td></tr> </table> -31095029 -14406262 445817 445817 240199 240199 -69.75 -69.75 -59.98 -59.98 <p id="xdx_89F_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_zIlDVyUVYQLc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Securities that were excluded from loss per share as their effect would be anti-dilutive due to the net loss position that could potentially be dilutive in future periods are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8BE_zFxvD5R6d7K6" style="display: none">Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20240101__20241231_zwILw6b6yzSg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20230101__20231231_zEZQvpMGgog1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zu3QRWpyQ2Al" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Options</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">2,566</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">1,496</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RestrictedStockUnitsRSUMember_zcFWZc2dIfvj" style="vertical-align: bottom; background-color: White"> <td>RSUs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">34,078</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4800">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--PublicWarrantsMember_zf30npS07pb4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Public warrant shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">23,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">23,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--GemWarrantsMember_zTQZOVLzVkIj" style="vertical-align: bottom; background-color: White"> <td>GEM warrant shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,657</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,657</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--CommonWarrantSharesMember_zr67HiSDqd86" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Common warrant shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">452,761</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4809">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--PlacementAgentWarrantSharesMember_zPyLlRNNYwtg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Placement agent warrant shares</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">10,490</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4812">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_zSsGr7zJGYrg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">524,552</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">26,153</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_zbxtEMAomoD1" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Antidilutive Securities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">524,552</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">26,153</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 2566 1496 34078 23000 23000 1657 1657 452761 10490 524552 26153 524552 26153 <p id="xdx_846_eus-gaap--LesseeLeasesPolicyTextBlock_zMCRWS6UjYNb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_86E_zvnUQQn42YV3">Leases</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company determines if an arrangement is a lease at inception and classifies its leases at commencement. Operating leases are presented as right-of-use (“ROU”) assets and the corresponding lease liabilities are included in operating lease liabilities, current and operating lease liabilities, non-current on the Company’s balance sheets. ROU assets represent the Company’s right to use an underlying asset, and lease liabilities represent the Company’s obligation for lease payments in exchange for the ability to use the asset for the duration of the lease term.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ROU assets and lease liabilities are recognized at commencement date and determined using the present value of the future minimum lease payments over the lease term. The Company uses an incremental borrowing rate based on estimated rate of interest for collateralized borrowing since the Company’s leases do not include an implicit interest rate. The estimated incremental borrowing rate considers market data, actual lease economic environment, and actual lease term at commencement date. The lease term may include options to extend when it is reasonably certain that the Company will exercise that option. In addition, the Company does not recognize short-term leases that have a term of twelve months or less as ROU assets or lease liabilities. The Company recognizes operating lease expense on a straight-line basis over the lease term.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has lease agreements which contain both lease and non-lease components, which it has elected to account for as a single lease component when the payments are fixed. As such, variable lease payments, including those not dependent on an index or rate, such as real estate taxes, common area maintenance, and other costs that are subject to fluctuation from period to period are not included in lease measurement.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company evaluates long-lived assets for recoverability if there are indicators of potential impairment. Indicators of potential impairment may include subleasing a location for less than the head lease cost. If there are indicators of potential impairment, the Company will test the assets for recoverability. If the undiscounted cash flows estimated to be generated are less than the carrying value of the underlying assets, the assets are deemed impaired. If it is determined that assets are impaired, an impairment loss is calculated based on the amount that the asset’s book value exceeds its fair value.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p id="xdx_84E_eus-gaap--RevenueRecognitionPolicyTextBlock_ztQEuksGAwlf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_868_zqElxTYItWqa">Revenue Recognition</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenue is generated through Banzai providing marketing and webinar platform subscription software service for a set period of time. The Statement of Work (“SOW”) or Invoice, and the accompanying documents are negotiated and signed by both parties (if applicable). Alternatively, customer contracting is achieved via self service and invoicing is initiated automatically once the customer accepts the terms and conditions on the platform, based on their selection of the desired subscription product. When execution or completion of the contract occurs, the contract is valid and revenue is earned when the service is provided for each period of performance, daily. The amount is paid by the customer based on the contract terms monthly, quarterly, or annually, with the majority paid via credit card processing.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company recognizes revenue in an amount that reflects the consideration to which it expects to be entitled in exchange for the transfer of promised services to its customers. To determine revenue recognition for contracts with customers, the Company performs the following steps described in ASC 606: (1) identifies the contract with the customer, or Step 1, (2) identifies the performance obligations in the contract, or Step 2, (3) determines the transaction price, or Step 3, (4) allocates the transaction price to the performance obligations in the contract, or Step 4, and (5) recognizes revenue when (or as) the entity satisfies a performance obligation, or Step 5.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenue from contracts with customers are not recorded until the Company has the approval and commitment from the parties, the rights of the parties are identified, payment terms are established, the contract has commercial substance and collectability of the consideration is probable. The Company also evaluates the following indicators, amongst others, when determining whether it is acting as a principal in the transaction (and therefore whether to record revenue on a gross basis): (i) whether the Company is primarily responsible for fulfilling the promise to provide the specified good or service, (ii) whether the Company has the inventory risk before the specified good or service has been transferred to a customer or after transfer of control to the customer and (iii) whether the Company has the discretion to establish the price for the specified good or service. If the terms of a transaction do not indicate that the Company is acting as a principal in the transaction, then the Company is acting as an agent in the transaction and therefore, the associated revenue is recognized on a net basis (that is revenue net of costs).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenue is recognized once control passes to the customer. The following indicators are evaluated in determining when control has passed to the customer: (i) whether the Company has a right to payment for the product or service, (ii) whether the customer has legal title to the product or service, (iii) whether the Company has transferred physical possession of the product or service to the customer, (iv) whether the customer has the significant risk and rewards of ownership of the product or service and (v) whether the customer has accepted the product or service. When an arrangement contains more than one performance obligation, the Company will allocate the transaction price to each performance obligation on a relative standalone selling price basis. The Company utilizes the observable price of products and services when they are sold separately to similar customers in order to estimate standalone selling price.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_845_eus-gaap--CostOfSalesPolicyTextBlock_zCNQUVug6oF4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_862_zOAECaURS1O2">Costs of Revenue</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Costs of revenue consist primarily of infrastructure, streaming service, data license and contracted services costs, as well as merchant fees and payroll costs.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p id="xdx_84A_eus-gaap--AdvertisingCostsPolicyTextBlock_z6RIh0n7HAG7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_861_zgtEXpps9oyf">Advertising Costs</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Advertising costs are expensed as incurred. Advertising costs were $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFN1bW1hcnkgb2YgU2lnbmlmaWNhbnQgQWNjb3VudGluZyBQb2xpY2llcyAoRGV0YWlscyBOYXJyYXRpdmUpAA__" id="xdx_904_eus-gaap--AdvertisingExpense_c20240101__20241231_zhuKXRSQmiMh" title="Advertising costs">467,897</span> and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFN1bW1hcnkgb2YgU2lnbmlmaWNhbnQgQWNjb3VudGluZyBQb2xpY2llcyAoRGV0YWlscyBOYXJyYXRpdmUpAA__" id="xdx_906_eus-gaap--AdvertisingExpense_c20230101__20231231_z9DgPf1eL9sh" title="Advertising costs">941,737</span> for the years ended December 31, 2024 and 2023, respectively, which are included in general and administrative expenses on the consolidated statements of operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> 467897 941737 <p id="xdx_844_eus-gaap--ShareBasedCompensationOptionAndIncentivePlansPolicy_zc3F08BXHfN3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_867_zJciEMF8S0X2">Stock-Based Compensation</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company expenses stock-based compensation to employees and non-employees over the requisite service period based on the estimated grant-date fair value of the awards in accordance with ASC 718, <i>Stock Compensation</i>. The Company accounts for forfeitures as they occur. The Company estimates the fair value of stock option grants using the Black-Scholes option pricing model, and the assumptions used in calculating the fair value of stock-based awards represent management’s best estimates and involve inherent uncertainties and the application of management’s judgment.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p id="xdx_84C_eus-gaap--IncomeTaxPolicyTextBlock_zktdmqY44Smh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_86B_z2TmCqCgW0cj">Income Taxes</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Income taxes are recorded in accordance with ASC 740, <i>Income Taxes </i>(“ASC 740”), which provides for deferred taxes using an asset and liability approach. The Company recognizes deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Deferred tax assets and liabilities are determined based on the difference between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Valuation allowances are provided, if based upon the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The Company accounts for uncertain tax positions in accordance with the provisions of ASC 740. When uncertain tax positions exist, the Company recognizes the tax benefit of tax positions to the extent that the benefit would more likely than not be realized assuming examination by the taxing authority. The determination as to whether the tax benefit will more likely than not be realized is based upon the technical merits of the tax position as well as consideration of the available facts and circumstances. The Company recognizes any interest and penalties accrued related to unrecognized tax benefits as income tax expense.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p id="xdx_849_eus-gaap--DerivativesPolicyTextBlock_zsyw9tEUi1ni" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_867_zbOq3zpjzX1d">Derivative Financial Instruments</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company evaluates all its financial instruments to determine if such instruments contain features that qualify as embedded derivatives. Embedded derivatives must be separately measured from the host contract if all the requirements for bifurcation are met. The assessment of the conditions surrounding the bifurcation of embedded derivatives depends on the nature of the host contract. Bifurcated embedded derivatives are recognized at fair value, with changes in fair value recognized in the statement of operations each period. Bifurcated embedded derivatives are classified with the related host contract in the Company’s balance sheet. Refer to <i>Note 8 - Fair Value Measurements</i> and <i>Note 14 - Debt</i> for further detail.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p id="xdx_84B_ecustom--BridgeNotesFairValueOptionElectionPolicyPolicyTextBlock_zzOxt28d30vk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_86F_zPkDGxDtorgl">Bridge Notes - Fair Value Option Election</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company determined the Agile Notes and 1800 Diagonal Notes (The “Bridge Notes”) (as defined in <i>Note 11 - Debt</i>) were eligible for the fair value option, in accordance with ASC 825-10-50-28, and made such election to account for the Bridge Notes at fair value. The <i>fair value option</i> may be elected on an instrument-by-instrument basis and is irrevocable unless a new election date occurs. Additional term or other notes may be issued in subsequent periods where the Company would be able to make a <i>fair value option</i> election upon issuance provided eligibility criteria are met. The Company records the portion of the Bridge Notes that are issued and outstanding for accounting purposes at fair value with changes in fair value recorded in other income (expense), net in the condensed consolidated statement of operations, except for the portion of the total change in fair value that results from a change in the instrument-specific credit risk of the Bridge Notes, which is recorded in other comprehensive income (loss), if applicable. The <i>fair value option</i> election was made to align the accounting for the Bridge Notes with the Company’s financial reporting objectives and reduce operational effort to account for embedded features that otherwise would require bifurcation as a separate unit of account.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the <i>fair value option</i> election, direct and incremental debt issuance costs and consideration paid to the lender related to the Bridge Notes were expensed as incurred and recorded in other income (expense), net in the condensed consolidated statements of operations. Measurement of the change in fair value of the Bridge Notes includes accrued interest, whether paid-in-kind or cash.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <b><i> </i></b></p> <p id="xdx_847_eus-gaap--FairValueOfFinancialInstrumentsPolicy_zaWEAsuVHiH7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_86B_zArnWReLzFE6">Fair Value of Financial Instruments</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In accordance with FASB ASC 820 <i>Fair Value Measurements and Disclosures</i>, the Company uses a three-level hierarchy for fair value measurements of certain assets and liabilities for financial reporting purposes that distinguishes between market participant assumptions developed from market data obtained from outside sources (observable inputs) and the Company’s own assumptions about market participant assumptions developed from the best information available to us in the circumstances (unobservable inputs). The fair value hierarchy is divided into three levels based on the source of inputs as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Level 1: Quoted prices in active markets for identical assets or liabilities.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Level 2: Inputs other than Level 1 prices for similar assets or liabilities that are directly or indirectly observable in the marketplace.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Level 3: Unobservable inputs which are supported by little or no market activity and values determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant judgment or estimation.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The fair value measurements discussed herein are based upon certain market assumptions and pertinent information available to management during the years ended December 31, 2024 and 2023. The carrying amount of cash, accounts receivable, prepaid expenses and other current assets, accounts payable, accrued expenses, deferred revenue, and other current liabilities approximated their fair values as of December 31, 2024 and 2023.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p id="xdx_841_eus-gaap--BusinessCombinationsPolicy_z6ll5GTl6pPi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_86E_zo3i3UJhMPf7">Business Combinations</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The purchase price for acquisitions are allocated to the assets acquired and liabilities assumed based on their estimated fair values at the date of acquisition. The fair value of identifiable intangible assets is based on detailed valuations that use information and assumptions provided by management, including expected future cash flows. We allocate any excess purchase price over the fair value of the identifiable net assets and liabilities acquired to goodwill. Identifiable intangible assets with finite lives are amortized over their useful lives. Acquisition-related costs, including advisory, legal, accounting, valuation, and other costs, are expensed in the periods in which the costs are incurred. The results of operations of acquired businesses are included in the consolidated financial statements from the acquisition date. Refer to <i>Note 5</i> for further discussion.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p id="xdx_849_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zfnaWIZzxKa6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_86D_zq1UWl0ZjAo4">Recent Accounting Pronouncements</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Recent accounting pronouncements not yet effective</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In December 2023, the FASB issued ASU 2023-09, <i>Income Taxes (Topic 740), Improvements to income tax disclosures</i>, which enhances the disclosure requirements for the income tax rate reconciliation, domestic and foreign income taxes paid, requiring disclosure of disaggregated income taxes paid by jurisdiction, unrecognized tax benefits, and modifies other income tax-related disclosures. The amendments are effective for annual periods beginning after December 15, 2024. Early adoption is permitted and should be applied prospectively. The Company is currently evaluating the effect of adopting this guidance on its consolidated financial statements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In November 2024, the FASB issued ASU No. 2024-03, <i>Disaggregation of Income Statement Expenses (Subtopic 220-40)</i>. The ASU requires the disaggregated disclosure of specific expense categories, including purchases of inventory, employee compensation, depreciation, and amortization included in each relevant expense caption presented on the statement of operations. The guidance also requires disclosure of a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively, as well as the total amount of selling expenses and an entity’s definition of selling expenses. This guidance is effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027. Early adoption of the amendment is permitted. The Company is currently evaluating the guidance and its impact to its consolidated financial statements and related disclosures.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Recently adopted accounting pronouncements</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In November 2023, the FASB issued ASU 2023-07, <i>Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures</i>. The amendments improve reportable segment disclosure requirements through enhanced disclosures over significant segment expenses regularly provided to the Chief Operating Decision Maker (“CODM”), extending certain annual disclosures to interim periods, and through permitting more than one measure of segment profit or loss to be reported under certain conditions. The Company adopted this guidance effective December 31, 2024, on a retrospective basis. Refer to <i>Note 21</i> for further information.</p> <p id="xdx_804_eus-gaap--MergersAcquisitionsAndDispositionsDisclosuresTextBlock_z0tRkgQp9sKj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>4. <span id="xdx_820_z70fapmqKIie">Reverse Merger Capitalization with 7GC &amp; Co. Holdings Inc.</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 14, 2023 (the “Closing Date”), Banzai consummated the previously announced Merger with 7GC, as a result of which Banzai became a wholly-owned subsidiary of 7GC. While 7GC was the legal acquirer of Banzai in the merger, for accounting purposes, Legacy Banzai was deemed to be the accounting acquirer in the merger. The determination was primarily based on Legacy Banzai’s stockholders having a majority of the voting power in the combined Company, Legacy Banzai having the ability to appoint a majority of the Board of Directors of the Company, Legacy Banzai’s existing management team comprising the senior management of the combined Company, Legacy Banzai comprising the ongoing operations of the combined Company and the combined Company assumed the name “Banzai International, Inc.”. Accordingly, for accounting purposes, the merger was treated as the equivalent of Legacy Banzai issuing stock for the net assets of 7GC, accompanied by a recapitalization. The net assets of 7GC are stated at historical cost, with no goodwill or other intangible assets recorded.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Retroactive Restatement for Conversion of Common Stock and Series A Preferred Stock by Applying Exchange Ratio</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Upon the closing of the merger, holders of Legacy Banzai common stock and Series A preferred stock received shares of common stock in an amount determined by application of the Exchange Ratio. In accordance with guidance applicable to these circumstances, the equity structure has been restated in all comparable periods, prior to the merger, up to December 14, 2023, to reflect the number of shares of the Company’s common stock, $<span id="xdx_902_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20231214__dei--LegalEntityAxis__custom--BanzaiInternationalIncMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z7Cx9YvX2Rbc" title="Common stock par value">0.0001</span> par value per share, issued to Legacy Banzai’s stockholders in connection with the merger. As such, the shares and corresponding capital amounts and earnings per share related to Legacy Banzai’s outstanding Series A preferred stock and Legacy Banzai’s common stock prior to the merger have been retroactively restated as shares reflecting the exchange ratio of approximately <span id="xdx_90F_ecustom--ExchangeRatio_iI_uPure_c20231214__dei--LegalEntityAxis__custom--BanzaiInternationalIncMember_zPOLPfgJiA45" title="Exchange ratio">0.6147</span> established in the merger. Legacy Banzai’s Series A preferred stock previously classified as temporary equity was retroactively adjusted, converted into common stock and reclassified to permanent equity as a result of the reverse recapitalization. The consolidated assets, liabilities, and results of operations prior to the merger are those of Legacy Banzai.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The aggregate consideration payable to securityholders of Banzai at the Closing Date was equal to $<span id="xdx_908_ecustom--BusinessCombinationProvisionalInformationInitialAccountingIncompleteReductionConsiderationTransferred_c20231214__20231214__dei--LegalEntityAxis__custom--BanzaiInternationalIncMember_zNHSNxvmtQ38" title="Aggregate consideration payable to security holders">100,000,000</span>. Holders of <span id="xdx_90F_ecustom--NumberOfSharesHeldBySecurityHolders_c20231214__20231214__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zYQE1uUefQN2" title="Number of shares held by security holders">6,415</span> shares of 7GC’s Class A common stock, par value $<span id="xdx_90F_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20231214__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zbktIkM1ktFc" title="Common stock par value">0.0001</span> per share (“7GC Class A Common Stock”), exercised their right to redeem their shares for cash at a redemption price of approximately $<span id="xdx_90E_ecustom--RedemptionPricePerShare_iI_pid_c20231214__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zPATFqdPA4Oi" title="Redemption price per share">5,380.00</span> per share, for an aggregate redemption amount of $<span id="xdx_90F_ecustom--AggregateRedemptionAmount_iI_pid_c20231214__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zaayRXdnUmo2" title="Aggregate redemption amount">34,524,065</span>. Immediately prior to the Closing Date, each share of Banzai’s Preferred Stock that was issued and outstanding was automatically converted into one share of Banzai’s Class A Common Stock, par value $<span id="xdx_90F_eus-gaap--CommonStockParOrStatedValuePerShare_iI_pid_c20231214__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__dei--LegalEntityAxis__custom--BanzaiInternationalIncMember_zYAX9Idi10qj" title="Common stock par value">0.0001</span> per share. Each share of Banzai’s Class B Common Stock that was not held by the Chief Executive Officer of the Company converted to one share of Banzai’s Class A Common Stock, while the Chief Executive Officer received Class B Common Stock.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On the terms and subject to the conditions set forth in the Merger Agreement, at the Second Effective Time, each share of common stock of the Surviving Corporation issued and outstanding immediately prior to the Second Effective Time was cancelled and no consideration was delivered therefore.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Upon the closing of the merger, the Company’s certificate of incorporation was amended and restated to, among other things, increase the total number of authorized shares of all classes of capital stock to <span id="xdx_909_eus-gaap--CommonStockSharesAuthorized_iI_c20231214_zZWrHT3E3uX5" title="Common stock, shares authorized">350,000,000</span> shares, consisting of <span id="xdx_901_eus-gaap--CommonStockSharesAuthorized_iI_c20231214__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zNG1o5twwsij" title="Common stock, shares authorized">250,000,000</span> shares of Class A Common Stock, <span id="xdx_90A_eus-gaap--CommonStockSharesAuthorized_iI_c20231214__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zUskOa3DjYMk" title="Common stock, shares authorized">25,000,000</span> shares of Class B Common Stock, and <span id="xdx_90A_eus-gaap--PreferredStockSharesAuthorized_iI_c20231214_z6k0eVsFNJD9" title="Preferred stock, shares authorized">75,000,000</span> shares of Preferred Stock, all having a par value of $<span id="xdx_903_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_c20231214_zNP1RlJAaNVl" title="Preferred stock, par value">0.0001</span> per share. As of December 31, 2024, there were <span id="xdx_90D_eus-gaap--CommonStockSharesOutstanding_iI_c20231214__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zwkkZWH3QG1" title="Common stock, shares outstanding">819,516</span> shares of Common Stock and <span id="xdx_90C_eus-gaap--PreferredStockSharesOutstanding_iI_c20231214__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zy3t4cqsnux5" title="Preferred stock, shares outstanding">1</span> share of Preferred Stock outstanding.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Effect of Merger on Class A and Class B Common Stock</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Upon the Close of the Merger, holders of Legacy Banzai common stock and Series A preferred stock were converted into shares of common stock in an amount determined by application of the Exchange Ratio. As noted above, the equity structure has been restated in all comparable periods, prior to the Merger, up to December 14, 2023, to reflect the number of shares of the Company’s common stock, $<span id="xdx_902_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20231214__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__dei--LegalEntityAxis__custom--BanzaiInternationalIncMember_zQ12USBjIPj5" title="Common stock par value">0.0001</span> par value per share, issued to Legacy Banzai’s stockholders in connection with the Merger.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">  </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> 0.0001 0.6147 100000000 6415 0.0001 5380.00 34524065 0.0001 350000000 250000000 25000000 75000000 0.0001 819516 1 0.0001 <p id="xdx_80D_eus-gaap--BusinessCombinationDisclosureTextBlock_zOEUo7Go0FVi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>5. Acquisition of OpenReel <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_822_zhUUQeIx5yZ" style="display: none">Acquisition of Vidello</span></span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 18, 2024, the Company closed a previously announced merger (the “OpenReel Merger”, the consummation of the Merger, the “OpenReel Closing”) with ClearDoc, Inc., a Delaware corporation doing business as OpenReel (“OpenReel”). OpenReel is a remote video capture technology provider that provides subscription-based software as a service (“SaaS”) offerings to enterprise, media, entertainment and agency teams to remotely control, direct, script, film, and collaborate on high definition video projects from a mobile device or webcam. The merger became effective pursuant to an Agreement and Plan of Merger (the “OpenReel Merger Agreement”) dated December 10, 2024, by and among the Company, OpenReel, certain stockholders of OpenReel (the “OpenReel Stockholders”), and Banzai Reel Acquisition, Inc., a Delaware corporation and wholly owned subsidiary of the Company (“OpenReel Merger Sub”) which was formed solely for the purpose of consummating the OpenReel Merger. Upon the OpenReel Closing, the OpenReel Merger Sub merged with and into OpenReel, with OpenReel being the surviving entity thereafter as a direct and wholly owned subsidiary of the Company named “OpenReel, Inc.”. The OpenReel Merger is intended to qualify as a tax-free reorganization for U.S. federal income tax purposes. The Company’s primary reason for acquiring OpenReel was to enhance revenue growth and strengthen the Company’s competitive market position through cross selling opportunities.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At the effective time of the OpenReel Merger (the “OpenReel Effective Time”), each share of capital stock of OpenReel issued and outstanding immediately prior to the OpenReel Effective Time, was converted into the right to receive Company Class A Common Stock, par value $<span id="xdx_903_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20241218__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember_zUKVnHqMJZK2" title="Common stock par value">0.0001</span> per share, and pre-funded warrants, each exercisable for one (<span id="xdx_900_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_c20241218__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember__us-gaap--ClassOfWarrantOrRightAxis__custom--PreFundedWarrantMember_zL1OllIDApk8" title="Number of shares called by each warrant">1</span>) share of Company Class A Common Stock at an exercise price of $<span id="xdx_90A_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20241218__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember__us-gaap--ClassOfWarrantOrRightAxis__custom--PreFundedWarrantMember_zxNeLA6CdiAa" title="Warrants exercise price">0.0001</span> (the “Pre-Funded Warrants”), issued in lieu thereof, in an amount equal to the quotient of $<span id="xdx_909_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_c20241218__20241218__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember__us-gaap--ClassOfWarrantOrRightAxis__custom--PreFundedWarrantMember_zMpcuBAVCB5g" title="Consideration received on transaction">19,600,000</span> divided by the Conversion Price (the “Conversion Price” defined as the <span id="xdx_900_ecustom--VolumeWeightedAveragePriceMeasuringPeriod_dtD_c20241218__20241218__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember_zfm0LrWSKEx2" title="Consideration received on transaction">10</span>-day VWAP (“volume weighted average price”), provided that in no event shall the Conversion Price be less than $<span id="xdx_90F_ecustom--ConversionPriceThresholdValuePerShare_iI_c20241218__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember__srt--RangeAxis__srt--MinimumMember_zNJCU1toBWdl" title="Conversion price, threshold value per share">15.00</span> or more than $<span id="xdx_900_ecustom--ConversionPriceThresholdValuePerShare_iI_c20241218__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember__srt--RangeAxis__srt--MaximumMember_zUBB7KizU5l5" title="Conversion price, threshold value per share">22.50 Adjust</span>) (the “OpenReel Merger Consideration).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The OpenReel Merger Consideration consisted of an aggregate of <span id="xdx_909_eus-gaap--BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued_c20241218__20241218__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember_zY1wec6srJz8" title="Shares / Warrants issued">93,056</span> shares of Company Class A Common Stock, <span id="xdx_907_eus-gaap--BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued_c20241218__20241218__us-gaap--ClassOfWarrantOrRightAxis__custom--PreFundedWarrantMember__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember_zK0nLEyznQ36" title="Shares / Warrants issued">1,176,950</span> Pre-Funded Warrants, and in connection with and as a condition to closing under the OpenReel Merger, the issuance of one (<span id="xdx_908_eus-gaap--BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued_c20241218__20241218__us-gaap--StatementClassOfStockAxis__custom--SeriesFEPreferredStockMember__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember_zpaWcno9ADQ4" title="Shares / Warrants issued">1</span>) share of series FE preferred stock, par value $<span id="xdx_90F_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_c20241218__us-gaap--StatementClassOfStockAxis__custom--SeriesFEPreferredStockMember__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember_zXJYNATJDlwk" title="Preferred stock, par value">0.0001</span> per share (the “Series FE Preferred Stock”) to one of the OpenReel Stockholders, FE IV OR Aggregator, LLC. The Pre-Funded Warrants are exercisable immediately upon issuance and terminate when the Pre-Funded Warrants are exercised in full. The Series FE Preferred Stock has a two (2) year term and from the issue date to the second anniversary of the issue date, the holder is granted the right upon a subsequent financing resulting in the issuance of new securities by the Company, to participate on a pro-rata basis in such subsequent financing up to the holder’s fully-diluted ownership percentage of the Company. Upon the two-year anniversary of the issue date of the Series FE Preferred Stock, the Series FE Preferred Stock will automatically be canceled and return to the status of authorized but unissued. The Series FE Preferred Stock does not participate in dividends of the Company, is not convertible into any other class of equity securities of the Company, has no voting rights with the Common Stock or other equity securities of the Company, and is not redeemable.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As discussed above, on December 18, 2024, the Company issued <span id="xdx_907_eus-gaap--BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued_c20241218__20241218__us-gaap--ClassOfWarrantOrRightAxis__custom--PreFundedWarrantMember__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember_zh30TFsIWjs6" title="Shares / Warrants issued">1,176,950</span> Pre-Funded Warrants and <span id="xdx_908_eus-gaap--BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued_c20241218__20241218__us-gaap--StatementClassOfStockAxis__custom--SeriesFEPreferredStockMember__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember_zqaq7i3lnNw8" title="Shares / Warrants issued">1</span> share of Series FE Preferred Stock, which did not meet the definition of a liability pursuant to ASC 480 and met all of the requirements for equity classification under ASC 815. As such these were classified in stockholder’s equity. The measurement of fair value of the Pre-Funded Warrants were determined as the intrinsic value calculated as the common stock price on the issuance date minus the exercise price. The relative fair value of these Pre-Funded Warrants, net of issuance costs, on date of issuance was estimated to be approximately $<span id="xdx_90C_eus-gaap--BusinessCombinationConsiderationTransferred1_c20241218__20241218__us-gaap--ClassOfWarrantOrRightAxis__custom--PreFundedWarrantMember__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember_zJd1OtTa9o1i" title="Total consideration paid">19,300,805</span> and is reflected within additional paid-in capital. The measurement of fair value of the Series FE Preferred Stock was determined based on the common stock price on the issuance date, and the relative fair value of the Series FE Preferred Stock was determined to be $0 on the acquisition date based on the terms of the Preferred Stock, as described above.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company incurred transaction costs of $<span id="xdx_907_eus-gaap--BusinessAcquisitionCostOfAcquiredEntityTransactionCosts_iI_c20241218__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember_z3WA4MO8SKF8" title="Transaction costs">209,085</span> which are included in the Company’s consolidated statement of operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The OpenReel Merger was accounted for as a business combination under the acquisition method pursuant to Accounting Standards Codification Topic 805, <i>Business Combinations</i> (“ASC 805”), with the Company as the accounting acquirer. Under the acquisition method, the total purchase price of the acquisition is allocated to the net identifiable tangible and intangible assets acquired and liabilities assumed based on the fair values as of the acquisition date. The preliminary fair value of the consideration transferred totaled $<span id="xdx_907_eus-gaap--BusinessCombinationConsiderationTransferred1_c20241218__20241218__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember_zO3nGXfiCLdi" title="Total consideration paid">20,826,920</span> summarized as follows:</p> <p id="xdx_898_eus-gaap--ScheduleOfBusinessAcquisitionsByAcquisitionEquityInterestIssuedOrIssuableTextBlock_zVnHDF2jLTib" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8B9_zhBSuXzYa1Y1" style="display: none">Schedule of Preliminary Fair Value of the Consideration Transferred</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: White"> <td style="display: none; text-align: left"> </td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td id="xdx_494_20241218__20241218_zlR1eJMOHVea" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--BusinessCombinationConsiderationTransferred1_hus-gaap--BusinessAcquisitionAxis__custom--OpenReelMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zuY3Flh9cnVl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 82%; text-align: left">Common stock issued to OpenReel Stockholders</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1,526,115</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--BusinessCombinationConsiderationTransferred1_hus-gaap--BusinessAcquisitionAxis__custom--OpenReelMember__us-gaap--StatementEquityComponentsAxis__custom--PreFundedWarrantsMember_zMaE1IYpuSTl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Pre-Funded warrants issued to OpenReel Stockholders</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">19,300,805</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--BusinessCombinationConsiderationTransferred1_hus-gaap--BusinessAcquisitionAxis__custom--OpenReelMember__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zkElGGVaEFee" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Preferred Stock issued to OpenReel Stockholder</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4920">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--BusinessCombinationConsiderationTransferred1_hus-gaap--BusinessAcquisitionAxis__custom--OpenReelMember_zbVgcJ1wwtc6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total consideration paid</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">20,826,920</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AC_z2wFiVuOO4x9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">  </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_89B_eus-gaap--ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_zAro1LqZOsF" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company made a provisional allocation of the purchase price of the OpenReel Merger to the assets acquired and liabilities assumed as of the acquisition date. The following table summarizes the provisional purchase price allocation relating to the OpenReel Merger:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span id="xdx_8B0_z3ldpt0eEQZ5" style="display: none">Schedule of Provisional Purchase Price Allocation Relating to OpenReel Merger</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: White"> <td style="display: none; text-align: left"> </td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td id="xdx_49F_20241218__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember_zdGPtRct0SIf" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssetsAbstract_iB_zskkd1A1PmB" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Assets acquired:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents_iI_zXqtokKR9Wyd" style="vertical-align: bottom; background-color: White"> <td style="width: 82%; text-align: left">Cash and cash equivalents</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">82,219</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables_iI_zHNi3WzJug4f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accounts receivable, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">865,562</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets_iI_z73sXNP02tjk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prepaid expense and other current assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">103,343</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_iI_zBJ0d5iX8MBc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Property and equipment, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,607</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_iI_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zIR0ZcAAairh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Intangible Assets - OpenReel - Customer relationships</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">588,710</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_iI_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zsALTZwAaNu4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Intangible Assets - OpenReel - Trade name</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">899,600</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_iI_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember_z7PoSJzyhrVd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Intangible Assets - OpenReel - Technology</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,415,010</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_iI_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember_zIDdvqSiPKd3" style="display: none; vertical-align: bottom; background-color: White"> <td style="display: none; text-align: left; padding-bottom: 1pt">Intangible Assets</td><td style="display: none; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; display: none; text-align: left"> </td><td style="border-bottom: Black 1pt solid; display: none; text-align: right">2,415,010</td><td style="display: none; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets_iI_ztApM2UT2tSj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Total assets</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">4,958,051</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilitiesAbstract_iB_zpcsJikpMSf8" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Liabilities assumed:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable_iI_zpTIrkU0zjN9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accounts payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">330,602</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAccruedPayroll_iI_zBbkszQj4CLi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued payroll</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,408</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesDeferredRevenue_iI_z3Tk9bfGvc0k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Unearned revenue, current</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,726,846</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAccruedExpensesAndOtherCurrentLiabilities_iI_zkmqKl409wga" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued expenses and other current liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">222,581</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedUnearnedRevenueNoncurrent_iI_z8zebIdgADa3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Unearned revenue, non-current</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">107,070</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDueToParent_iI_zQ0Luqoz5mEc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Due to Parent</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">150,033</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_iI_zG3pF3E4qFBd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">3,657,540</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iI_zfaIZG0HFGN4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total identifiable net assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,300,511</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--BusinessCombinationGoodwillAbstract_iB_ztx46fGT1ggf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Goodwill recorded:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--Goodwill_iI_zg7pqEqvhErb" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Goodwill</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">19,526,409</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet_iI_zZx6EKUQAl3i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total consideration</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">20,826,920</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AC_zV7OtIiqDFrl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Goodwill recognized is not expected to be deductible for tax purposes. We believe that in this acquisition goodwill represents the value of OpenReel’s existing products and customers, combined with the added business synergies of integrating with the existing Banzai products and customer base.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of the date these consolidated financial statements were issued, the purchase accounting related to this acquisition was incomplete as the valuation of certain items, for example, certain working capital balances, were not yet finalized. The Company has reflected the provisional amounts in these consolidated financial statements. As such, the above balances may be adjusted in a future period, not to exceed one (1) year from the acquisition date pursuant to ASC 805, as the valuation is finalized and these adjustments may be material to the consolidated financial statements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_897_eus-gaap--ScheduleOfFiniteLivedIntangibleAssetsAcquiredAsPartOfBusinessCombinationTextBlock_zOEOjrvgsOn3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All intangible assets acquired are subject to amortization and their associated estimated acquisition date fair values are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span id="xdx_8B5_ztK9dYn0mVy3" style="display: none">Schedule of Intangible Assets Acquired and their Associated Estimated Acquisition Date Fair Values</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center">Estimated</td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_491_20241218__20241218__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember_zNbeAujmVjyh" style="font-weight: bold; text-align: center">Acquisition Date</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Intangible Assets</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Useful Life</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_403_eus-gaap--FinitelivedIntangibleAssetsAcquired1_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zV2K5zCLEq2i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">OpenReel - Customer Relationships</td><td style="width: 2%"> </td> <td style="width: 16%; text-align: center"><span id="xdx_909_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20241218__20241218__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember_zcj4V7MKatP" title="Estimated Useful Life">7</span> years</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">588,710</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--FinitelivedIntangibleAssetsAcquired1_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zq00ub94aR58" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">OpenReel - Trade name</td><td> </td> <td style="text-align: center"><span id="xdx_904_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20241218__20241218__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember_zH5NkKgsGo4c" title="Estimated Useful Life">15</span> years</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">899,600</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FinitelivedIntangibleAssetsAcquired1_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember_zRQlYepGoIU1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">OpenReel - Technology</td><td> </td> <td style="text-align: center"><span id="xdx_908_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20241218__20241218__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember_zq8iSjWUWNrf" title="Estimated Useful Life">6</span> years</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,415,010</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FinitelivedIntangibleAssetsAcquired1_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember_zdtrpKJVTmKh" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="display: none; text-align: left">Intangible Assets</td><td style="display: none"> </td> <td style="display: none; text-align: center"><span id="xdx_900_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20241218__20241218__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember_zGRA2zN5D6m" style="display: none" title="Estimated Useful Life">6</span> years</td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td style="display: none; text-align: right">2,415,010</td><td style="display: none; text-align: left"> </td></tr> </table> <p id="xdx_8AD_zdeJXUGOAFag" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Net income in the Consolidated Statement of Operations for the twelve months ended December 31, 2024 includes net income of OpenReel from the date of acquisition to December 31, 2024 of approximately $<span id="xdx_90F_eus-gaap--NetIncomeLoss_pn3n3_c20240101__20241231__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember_z9twOzrfBwO8" title="Net income">32</span> thousand.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Pro forma disclosure for the OpenReel acquisition</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following unaudited pro forma financial information reflects the consolidated results of operations of the Company as if the Merger with OpenReel had taken place on January 1, 2023. The pro forma results presented are the result of combining the revenues and earnings of the Company with the revenues and earnings of OpenReel. The Company did not have any material, non-recurring pro forma adjustments directly attributable to the business combination included in the reported pro forma revenue.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_891_eus-gaap--BusinessAcquisitionProFormaInformationTextBlock_z03UIU9Sto4e" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The pro forma financial information is not necessarily indicative of the results of operations as they would have been had the transactions been effected on the assumed date:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">  <span id="xdx_8BA_zLZuDGEMpxs2" style="display: none">Schedule of Pro Forma Financial Information</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: White"> <td style="display: none"> </td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td id="xdx_49E_20240101__20241231__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember_zPfxMGYTz33e" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td id="xdx_49B_20230101__20231231__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember_zfar096AfUx4" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Years Ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--BusinessAcquisitionsProFormaRevenue_zvwCxI6GXiw7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">10,604,538</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">12,081,328</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--BusinessAcquisitionProFormaCostOfRevenue_z0BuVoNPmzY1" style="vertical-align: bottom; background-color: White"> <td>Cost of revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,254,010</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,519,147</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--BusinessAcquisitionProFormaOperatingExpenses_z331wwkd4O32" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Operating expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21,778,659</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20,544,964</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--BusinessAcquisitionProFormaOtherExpensesIncomeNet_zOCaEch6tlal" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total other expenses (income), net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,061,763</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,662,025</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--BusinessCombinationProFormaInformationEarningsOrLossOfAcquireeSinceAcquisitionDateActual_zH3UhIoIhjHf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loss before income taxes attributable to common stockholders</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(31,489,894</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(15,644,808</td><td style="text-align: left">)</td></tr> </table> <p id="xdx_8A1_zsHf6ySkh077" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> 0.0001 1 0.0001 19600000 P10D 15.00 22.50 93056 1176950 1 0.0001 1176950 1 19300805 209085 20826920 <p id="xdx_898_eus-gaap--ScheduleOfBusinessAcquisitionsByAcquisitionEquityInterestIssuedOrIssuableTextBlock_zVnHDF2jLTib" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8B9_zhBSuXzYa1Y1" style="display: none">Schedule of Preliminary Fair Value of the Consideration Transferred</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: White"> <td style="display: none; text-align: left"> </td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td id="xdx_494_20241218__20241218_zlR1eJMOHVea" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--BusinessCombinationConsiderationTransferred1_hus-gaap--BusinessAcquisitionAxis__custom--OpenReelMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zuY3Flh9cnVl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 82%; text-align: left">Common stock issued to OpenReel Stockholders</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1,526,115</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--BusinessCombinationConsiderationTransferred1_hus-gaap--BusinessAcquisitionAxis__custom--OpenReelMember__us-gaap--StatementEquityComponentsAxis__custom--PreFundedWarrantsMember_zMaE1IYpuSTl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Pre-Funded warrants issued to OpenReel Stockholders</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">19,300,805</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--BusinessCombinationConsiderationTransferred1_hus-gaap--BusinessAcquisitionAxis__custom--OpenReelMember__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zkElGGVaEFee" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Preferred Stock issued to OpenReel Stockholder</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl4920">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--BusinessCombinationConsiderationTransferred1_hus-gaap--BusinessAcquisitionAxis__custom--OpenReelMember_zbVgcJ1wwtc6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total consideration paid</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">20,826,920</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 1526115 19300805 20826920 <p id="xdx_89B_eus-gaap--ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_zAro1LqZOsF" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company made a provisional allocation of the purchase price of the OpenReel Merger to the assets acquired and liabilities assumed as of the acquisition date. The following table summarizes the provisional purchase price allocation relating to the OpenReel Merger:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span id="xdx_8B0_z3ldpt0eEQZ5" style="display: none">Schedule of Provisional Purchase Price Allocation Relating to OpenReel Merger</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: White"> <td style="display: none; text-align: left"> </td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td id="xdx_49F_20241218__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember_zdGPtRct0SIf" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssetsAbstract_iB_zskkd1A1PmB" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Assets acquired:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents_iI_zXqtokKR9Wyd" style="vertical-align: bottom; background-color: White"> <td style="width: 82%; text-align: left">Cash and cash equivalents</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">82,219</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables_iI_zHNi3WzJug4f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accounts receivable, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">865,562</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets_iI_z73sXNP02tjk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prepaid expense and other current assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">103,343</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_iI_zBJ0d5iX8MBc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Property and equipment, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,607</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_iI_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zIR0ZcAAairh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Intangible Assets - OpenReel - Customer relationships</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">588,710</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_iI_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zsALTZwAaNu4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Intangible Assets - OpenReel - Trade name</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">899,600</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_iI_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember_z7PoSJzyhrVd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Intangible Assets - OpenReel - Technology</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,415,010</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_iI_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember_zIDdvqSiPKd3" style="display: none; vertical-align: bottom; background-color: White"> <td style="display: none; text-align: left; padding-bottom: 1pt">Intangible Assets</td><td style="display: none; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; display: none; text-align: left"> </td><td style="border-bottom: Black 1pt solid; display: none; text-align: right">2,415,010</td><td style="display: none; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets_iI_ztApM2UT2tSj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Total assets</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">4,958,051</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilitiesAbstract_iB_zpcsJikpMSf8" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Liabilities assumed:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable_iI_zpTIrkU0zjN9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accounts payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">330,602</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAccruedPayroll_iI_zBbkszQj4CLi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued payroll</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,408</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesDeferredRevenue_iI_z3Tk9bfGvc0k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Unearned revenue, current</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,726,846</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAccruedExpensesAndOtherCurrentLiabilities_iI_zkmqKl409wga" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued expenses and other current liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">222,581</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedUnearnedRevenueNoncurrent_iI_z8zebIdgADa3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Unearned revenue, non-current</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">107,070</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDueToParent_iI_zQ0Luqoz5mEc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Due to Parent</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">150,033</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_iI_zG3pF3E4qFBd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">3,657,540</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iI_zfaIZG0HFGN4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total identifiable net assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,300,511</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--BusinessCombinationGoodwillAbstract_iB_ztx46fGT1ggf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Goodwill recorded:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--Goodwill_iI_zg7pqEqvhErb" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Goodwill</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">19,526,409</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet_iI_zZx6EKUQAl3i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total consideration</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">20,826,920</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 82219 865562 103343 3607 588710 899600 2415010 2415010 4958051 330602 120408 2726846 222581 107070 150033 3657540 1300511 19526409 20826920 <p id="xdx_897_eus-gaap--ScheduleOfFiniteLivedIntangibleAssetsAcquiredAsPartOfBusinessCombinationTextBlock_zOEOjrvgsOn3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All intangible assets acquired are subject to amortization and their associated estimated acquisition date fair values are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span id="xdx_8B5_ztK9dYn0mVy3" style="display: none">Schedule of Intangible Assets Acquired and their Associated Estimated Acquisition Date Fair Values</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center">Estimated</td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_491_20241218__20241218__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember_zNbeAujmVjyh" style="font-weight: bold; text-align: center">Acquisition Date</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Intangible Assets</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Useful Life</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_403_eus-gaap--FinitelivedIntangibleAssetsAcquired1_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zV2K5zCLEq2i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">OpenReel - Customer Relationships</td><td style="width: 2%"> </td> <td style="width: 16%; text-align: center"><span id="xdx_909_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20241218__20241218__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember_zcj4V7MKatP" title="Estimated Useful Life">7</span> years</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">588,710</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--FinitelivedIntangibleAssetsAcquired1_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zq00ub94aR58" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">OpenReel - Trade name</td><td> </td> <td style="text-align: center"><span id="xdx_904_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20241218__20241218__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember_zH5NkKgsGo4c" title="Estimated Useful Life">15</span> years</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">899,600</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FinitelivedIntangibleAssetsAcquired1_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember_zRQlYepGoIU1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">OpenReel - Technology</td><td> </td> <td style="text-align: center"><span id="xdx_908_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20241218__20241218__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember_zq8iSjWUWNrf" title="Estimated Useful Life">6</span> years</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,415,010</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FinitelivedIntangibleAssetsAcquired1_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember_zdtrpKJVTmKh" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="display: none; text-align: left">Intangible Assets</td><td style="display: none"> </td> <td style="display: none; text-align: center"><span id="xdx_900_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20241218__20241218__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember_zGRA2zN5D6m" style="display: none" title="Estimated Useful Life">6</span> years</td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td style="display: none; text-align: right">2,415,010</td><td style="display: none; text-align: left"> </td></tr> </table> P7Y 588710 P15Y 899600 P6Y 2415010 P6Y 2415010 32000 <p id="xdx_891_eus-gaap--BusinessAcquisitionProFormaInformationTextBlock_z03UIU9Sto4e" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The pro forma financial information is not necessarily indicative of the results of operations as they would have been had the transactions been effected on the assumed date:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">  <span id="xdx_8BA_zLZuDGEMpxs2" style="display: none">Schedule of Pro Forma Financial Information</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: White"> <td style="display: none"> </td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td id="xdx_49E_20240101__20241231__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember_zPfxMGYTz33e" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td id="xdx_49B_20230101__20231231__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember_zfar096AfUx4" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Years Ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--BusinessAcquisitionsProFormaRevenue_zvwCxI6GXiw7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">10,604,538</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">12,081,328</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--BusinessAcquisitionProFormaCostOfRevenue_z0BuVoNPmzY1" style="vertical-align: bottom; background-color: White"> <td>Cost of revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,254,010</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,519,147</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--BusinessAcquisitionProFormaOperatingExpenses_z331wwkd4O32" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Operating expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21,778,659</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20,544,964</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--BusinessAcquisitionProFormaOtherExpensesIncomeNet_zOCaEch6tlal" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total other expenses (income), net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,061,763</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,662,025</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--BusinessCombinationProFormaInformationEarningsOrLossOfAcquireeSinceAcquisitionDateActual_zH3UhIoIhjHf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loss before income taxes attributable to common stockholders</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(31,489,894</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(15,644,808</td><td style="text-align: left">)</td></tr> </table> 10604538 12081328 2254010 2519147 21778659 20544964 18061763 4662025 -31489894 -15644808 <p id="xdx_809_eus-gaap--RelatedPartyTransactionsDisclosureTextBlock_z5ao6UR1MFwe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>6. <span id="xdx_821_zNSPgyuB33Ac">Related Party Transactions</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>7GC Related Party Promissory Notes</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 21, 2022, 7GC issued an unsecured promissory note (the “December 2022 7GC Note”) to the Sponsor, 7GC &amp; Co. Holdings LLC, which provides for borrowings from time to time of up to an aggregate of $<span id="xdx_907_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_c20221221__dei--LegalEntityAxis__custom--SevenGcCoHoldingsIncMember__us-gaap--RelatedPartyTransactionAxis__custom--WorkingCapitalDrawdownsAndExtensionDrawdownsMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember_zKjopmDIwSYi" title="Maximum borrowing capacity">2,300,000</span>. The December 2022 7GC Note does not bear interest. Upon the consummation of a Business Combination, the Sponsor shall have the option, but not the obligation, to convert the principal balance of the December 2022 7GC Note, in whole or in part, into that number of shares of Class A common stock, $<span id="xdx_90D_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20221221__dei--LegalEntityAxis__custom--SevenGcCoHoldingsIncMember__us-gaap--RelatedPartyTransactionAxis__custom--WorkingCapitalDrawdownsAndExtensionDrawdownsMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember_zTBAe6BrBgg3" title="Common stock par value">0.0001</span> par value per share, of 7GC (the “Converted Shares”) equal to the principal amount of the December 2022 7GC Note so converted divided by $<span id="xdx_90E_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_c20221221__dei--LegalEntityAxis__custom--SevenGcCoHoldingsIncMember_zN1JfWYiOW09" title="Debt instrument conversion price per share">5,000.00</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On October 3, 2023, 7GC issued an additional unsecured promissory note (the “October 2023 7GC Note”, together with the December 2022 7GC Note, the “7GC Promissory Notes”) to the Sponsor, which provides for borrowings from time to time of up to an aggregate of $<span id="xdx_900_eus-gaap--DebtInstrumentFaceAmount_iI_c20231003__dei--LegalEntityAxis__custom--SevenGcCoHoldingsIncMember__us-gaap--DebtInstrumentAxis__custom--WorkingCapitalLoansMember_zEYxss2lQDJh" title="Debt instrument, face amount">500,000</span> for working capital purposes. The October 2023 7GC Note does not bear interest. Upon the consummation of a Business Combination, the Sponsor shall have the option, but not the obligation, to convert the principal balance of the October 2023 7GC Note, in whole or in part, into that number of the Converted Shares, equal to the principal amount of the October 2023 7GC Note so converted divided by $<span id="xdx_905_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_c20231003__dei--LegalEntityAxis__custom--SevenGcCoHoldingsIncMember__us-gaap--DebtInstrumentAxis__custom--WorkingCapitalLoansMember_zJ1YLoSk5tyf" title="Debt instrument conversion price per share">5,000.00</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Upon Closing of the Merger, Banzai assumed the 7GC Promissory Notes which subsequently converted on February 2, 2024. At the date of conversion, the total balance of the Notes converted was $<span id="xdx_90D_eus-gaap--ConvertibleDebtCurrent_iI_c20240202__dei--LegalEntityAxis__custom--SevenGcCoHoldingsIncMember_z3WpX1j51325" title="Convertible notes">2,540,092</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Due to Related Party of 7GC</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the year ended December 31, 2023, the Sponsor paid certain expenses on behalf of 7GC. Upon Closing of the Merger, Banzai assumed the $<span id="xdx_904_eus-gaap--OtherLiabilitiesCurrent_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SevenGcCoHoldingsIncMember_zTpJYVwMCH75" title="Other current liabilities">67,118</span> liability. As of December 31, 2024, the entire balance remained outstanding and is included within due to related party under current liabilities on the accompanying consolidated balance sheet.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Legacy Banzai Related Party Transactions</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During 2023, Legacy Banzai issued Promissory Notes and Convertible Notes to related parties. See <i>Note 14 - Debt </i>for further details related to these transactions and associated balances.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Debt Conversion Agreement with Alco</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 19, 2024, the Company and Alco agreed to convert the outstanding balance of all debt owing to Alco, into equity in the form of common stock, common stock warrants and pre-funded warrants. See <i>Note 14 - Debt</i> and <i>Note 18 - Equity</i>, for further details related to the transaction and associated balances.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Debt Restructuring Agreement with CPBF</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 5, 2024, the Company and CP BF agreed to amend the outstanding balance of all debt previously in the form of one term note and two convertible notes into one new consolidated convertible note. The newly issued consolidated convertible note was issued on September 23, 2024. Additionally on <span id="xdx_905_eus-gaap--DebtInstrumentIssuanceDate1_dd_c20240905__20240905_zT1zKSw9pM4" title="Issuance date">September 23, 2024</span>, the Company and CP BF entered into a share purchase agreement where the Company issued equity in the form of common stock, common stock warrants and pre-funded warrants to CP BF for the reduction of $<span id="xdx_90C_ecustom--ReductionOfDebt_iI_pn6n6_c20240923__us-gaap--TypeOfArrangementAxis__custom--SharePurchaseAgreementMember_zHHrgiPaBWU6" title="Reduction of debt">2</span> million of debt under the newly issued consolidated convertible note. See <i>Note 14 - Debt</i> and <i>Note 18 - Equity</i>, for further details related to the transaction and associated balances.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Due to Related Party of Company CEO</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 12, 2024, the CEO of the Company loaned the Company an advance of $<span id="xdx_906_ecustom--ProceedsFromRelatedPartyAdvance_pp0p0_c20240912__20240912__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__srt--ChiefExecutiveOfficerMember_z584LQDmG1mh" title="Proceeds from related party advance">100,000</span>. The advance is non-interest bearing, and matures one year from issuance. As of December 31, 2024, the entire balance remained outstanding and is included within due to related party under current liabilities on the accompanying consolidated balance sheet.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> 2300000 0.0001 5000.00 500000 5000.00 2540092 67118 2024-09-23 2000000 100000 <p id="xdx_808_eus-gaap--RevenueFromContractWithCustomerTextBlock_zm8UFrCGXq1c" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>7. <span id="xdx_82D_zfptFVNuMTng">Revenue</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under ASC 606, revenue is recognized throughout the life of the executed agreement. The Company measures revenue based on considerations specified in terms and conditions agreed to by a customer. Furthermore, the Company recognizes revenue when a performance obligation is satisfied by transferring control of the service to the customer, which occurs over time. The Company considers this method a faithful depiction of the transfer of control as services are substantially the same and have the same pattern of transfer over the life of the contract.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company’s services include providing end-to-end video engagement solutions that provide a fast, intuitive and powerful platform of marketing tools that create more intent-driven videos, webinars, virtual events and other digital and in-person marketing campaigns.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As noted within the SOW’s and invoices, agreements range from monthly, to annual, to multi-year and Banzai generally provides for net <span id="xdx_903_ecustom--PaymentTerm_dtD_c20240101__20241231_zjZm66xmEpej" title="Payment term">30</span>-day payment terms with the payment made directly through check or electronic means.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Banzai’s Management believes its exposure to credit risk is sufficiently mitigated by collection through credit card sales or direct payment from established clients.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company follows the provisions of ASC 606, under which the Company recognizes revenue when the customer obtains control of promised goods or services, in an amount that reflects the consideration which is expected to be received in exchange for those goods or services. The Company recognize revenues following the five-step model prescribed under ASC 606: (i) identify contract(s) with a customer; (ii) identify the performance obligation(s) in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligation(s) in the contract; and (v) recognize revenues when (or as) the Company satisfies a performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. At contract inception, once the contract is determined to be within the scope of ASC 606, the Company assesses the goods or services promised within each contract and determines those that are performance obligations and assesses whether each promised good or service is distinct. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. Sales, value add, and other taxes collected on behalf of third parties are excluded from revenue.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Nature of Products and Services</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following is a description of the Company’s products and services from which the Company generates revenue, as well as the nature, timing of satisfaction of performance obligations, and significant payment terms for each, as applicable:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Demio</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Demio product is a full-stack technology that marketers can leverage live and automated for video marketing content such as webinars and virtual events. Software products are provided to Demio customers for a range of attendees and hosts within a specified time frame at a specified established price. <span id="xdx_907_eus-gaap--RevenuePerformanceObligationDescriptionOfTiming_c20240101__20241231__srt--ProductOrServiceAxis__custom--DemioMember_zmOuFCFpOy4e" title="Performance obligations, description">The performance obligations identified include access to the suite and platform, within the parameters established, and within the standards established in the agreement. Contracts include a standalone selling price for the number of webinars and hosts as a performance obligation. There are no financing components and payments are typically net 30 of date or receipt of invoice. It is nearly 100% certain that a significant revenue reversal will not occur. The Company recognizes revenue for its sale of Demio services over time which corresponds with the period of time that access to the service is provided.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Reach</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">While the Reach product is in the process of being phased out, the Company continues to generate revenues from the product. The Reach product provides a multi-channel targeted audience acquisition (via Reach) to bolster engagement and Return on Investment (ROI). Banzai enables marketing teams to create winning webinars and virtual and in-person events that increase marketing efficiency and drive additional revenue. Software products are provided to Reach customers for a range of simultaneous events and registrations within a specified time frame at a specified established price. <span id="xdx_90D_eus-gaap--RevenuePerformanceObligationDescriptionOfTiming_c20240101__20241231__srt--ProductOrServiceAxis__custom--ReachMember_zXn3VwUboglk" title="Performance obligations, description">The performance obligations identified include access to the suite and platform, within the parameters established, and within the standards established in the agreement. Contracts include a standalone selling price for the number of simultaneous published events as a performance obligation. There are no financing components and payments are typically net 30 of date or receipt of invoice. It is nearly 100% certain that a significant revenue reversal will not occur. The Company recognizes revenue for its sale of Reach services over time which corresponds with the timing the service is rendered.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>OpenReel</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The OpenReel product offers subscription-based software as a service (SaaS) offerings to enterprise, media, entertainment and agency teams to remotely control, direct, script, film, and collaborate on high definition video projects from a mobile device or webcam. <span id="xdx_90D_eus-gaap--RevenuePerformanceObligationDescriptionOfTiming_c20240101__20241231__srt--ProductOrServiceAxis__custom--OpenReelMember_z6SJj1aknVnd" title="Performance obligations, description">The Company enters into fixed price subscription contracts with customers, which can be monthly, annual, or multi-year agreements which auto-renew without discount for additional periods of the same duration as the initial term, unless either party requests termination in writing at least thirty (30) days prior to the end of the initial service term. The subscription revenues are recognized ratably over the term of the service agreement, which is considered an output method, as the obligation of hosting the SaaS product is fulfilled over the course of the agreement. The Company does not charge for implementation or recognize any revenues upfront due to minimal effort required. There are no financing components and payments are typically net 30 of date of receipt of invoice, or typically net 90 date of receipt of invoice for customers on multi-year subscription agreement contracts. It is nearly 100% certain that a significant revenue reversal will not occur.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Service Trade Revenue</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has one customer for which the customer is also a vendor. For this one customer, the Company exchanged services for approximately $<span id="xdx_906_ecustom--ServicesRevenueFromVendorCustomer_c20240101__20241231_z3x0aIXhgtle" title="Services revenue from vendor customer">239,000</span> and $<span id="xdx_901_ecustom--ServicesRevenueFromVendorCustomer_c20230101__20231231_zM8SDkci0SKa" title="Services revenue from vendor customer">375,000</span>, during the years ended December 31, 2024 and 2023, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Disaggregation of Revenue</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_892_eus-gaap--DisaggregationOfRevenueTableTextBlock_zXGXiWr1o62l" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table summarizes revenue by region based on the billing address of customers for the years ended December 31, 2024 and 2023:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8B7_z5IME19WV13g" style="display: none">Summary of Revenue by Region</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year Ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Percentage of Revenue</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Percentage of Revenue</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%; padding-left: 10pt">Americas</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20240101__20241231__srt--StatementGeographicalAxis__srt--AmericasMember_zM3Oy0fEf8zk" style="width: 10%; text-align: right" title="Revenue Amount">2,564,074</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_ecustom--ConcentrationRiskPercentage_dp_c20240101__20241231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerMember__srt--StatementGeographicalAxis__srt--AmericasMember_zgVJWDB0y0L5" style="width: 10%; text-align: right" title="Percentage of Revenue">57</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20230101__20231231__srt--StatementGeographicalAxis__srt--AmericasMember_zXFTma0D4FT6" style="width: 10%; text-align: right" title="Revenue Amount">2,677,050</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_ecustom--ConcentrationRiskPercentage_dp_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerMember__srt--StatementGeographicalAxis__srt--AmericasMember_zcDcQCGFtZT3" style="width: 10%; text-align: right" title="Percentage of Revenue">59</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Europe, Middle East and Africa (EMEA)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20240101__20241231__srt--StatementGeographicalAxis__us-gaap--EMEAMember_zl3Mgr5MizF2" style="text-align: right" title="Revenue Amount">1,492,561</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--ConcentrationRiskPercentage_dp_c20240101__20241231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerMember__srt--StatementGeographicalAxis__us-gaap--EMEAMember_z5Dlu2YEKusa" style="text-align: right" title="Percentage of Revenue">33</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20230101__20231231__srt--StatementGeographicalAxis__us-gaap--EMEAMember_zHHLiYUt60Rl" style="text-align: right" title="Revenue Amount">1,511,886</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_ecustom--ConcentrationRiskPercentage_dp_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerMember__srt--StatementGeographicalAxis__us-gaap--EMEAMember_zmFeLE6sQ529" style="text-align: right" title="Percentage of Revenue">33</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Asia Pacific</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20240101__20241231__srt--StatementGeographicalAxis__srt--AsiaPacificMember_zOHKiPBv9MJj" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue Amount">471,244</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_ecustom--ConcentrationRiskPercentage_dp_c20240101__20241231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerMember__srt--StatementGeographicalAxis__srt--AsiaPacificMember_zR1YuVl1Xyzg" style="border-bottom: Black 1pt solid; text-align: right" title="Percentage of Revenue">10</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20230101__20231231__srt--StatementGeographicalAxis__srt--AsiaPacificMember_z8QmtQ5eRGW8" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue Amount">372,364</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_ecustom--ConcentrationRiskPercentage_dp_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerMember__srt--StatementGeographicalAxis__srt--AsiaPacificMember_zNomMQfnJIO9" style="border-bottom: Black 1pt solid; text-align: right" title="Percentage of Revenue">8</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20240101__20241231_zE1q9XiOTmKd" style="border-bottom: Black 2.5pt double; text-align: right" title="Revenue Amount">4,527,879</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98A_ecustom--ConcentrationRiskPercentage_dp_c20240101__20241231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerMember_zW9jDV5bjJ2l" style="border-bottom: Black 2.5pt double; text-align: right" title="Percentage of Revenue">100</td><td style="padding-bottom: 2.5pt; text-align: left">%</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20230101__20231231_zOG0HjqxOcX7" style="border-bottom: Black 2.5pt double; text-align: right" title="Revenue Amount">4,561,300</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_983_ecustom--ConcentrationRiskPercentage_dp_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerMember_zC1rKm8gB4ta" style="border-bottom: Black 2.5pt double; text-align: right" title="Percentage of Revenue">100</td><td style="padding-bottom: 2.5pt; text-align: left">%</td></tr> </table> <p id="xdx_8AD_zjt7DZHGeYLj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Contract Balances</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Accounts Receivable, Net</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A receivable is recorded when an unconditional right to invoice and receive payment exists, such that only the passage of time is required before payment of consideration is due. <span id="xdx_902_ecustom--AccountsReceivableContractualTerm_c20240101__20241231_ztl504Amdzwe" title="Accounts receivable contractual term">The Company receives payments from customers based upon agreed-upon contractual terms, typically within 30 days of invoicing the customer.</span> The timing of revenue recognition may differ from the timing of invoicing to customers.</p> <p id="xdx_89B_eus-gaap--ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock_z0qRhypvIG1f" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8BA_znz2Q2O6MMKh" style="display: none">Schedule of Accounts Receivable, Net</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Opening Balance</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Closing Balance</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Opening Balance</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Closing Balance</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">1/1/2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">12/31/2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">1/1/2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">12/31/2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%; text-align: left">Accounts receivable, net</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--AccountsReceivableNetCurrent_iS_c20240101__20241231_zW9Rk1uUV3ci" style="width: 10%; text-align: right" title="Opening Balance">105,049</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--AccountsReceivableNetCurrent_iE_c20240101__20241231_z5OqhX5ZzO1" style="width: 10%; text-align: right" title="Closing Balance">936,321</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--AccountsReceivableNetCurrent_iS_c20230101__20231231_z3oy0bvYB7D" style="width: 10%; text-align: right" title="Opening Balance">68,416</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--AccountsReceivableNetCurrent_iE_c20230101__20231231_zuLLuOZWUh7c" style="width: 10%; text-align: right" title="Closing Balance">105,049</td><td style="width: 1%; text-align: left"> </td></tr> </table> <p id="xdx_8A8_zuA6ba9oKVNd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Costs to Obtain a Contract</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Sales commissions, the principal costs incurred to obtain a contract, are earned when the contract is executed. Management has capitalized these costs and amortized the commission expense over time in accordance with the related contract’s term. For the years ended December 31, 2024 and 2023, commission expenses were $<span id="xdx_90A_eus-gaap--SalesCommissionsAndFees_c20240101__20241231_z1F9GGWSZoHc" title="Commission expenses">270,335</span> and $<span id="xdx_902_eus-gaap--SalesCommissionsAndFees_c20230101__20231231_zS3liPJhsGlj" title="Commission expenses">299,450</span>, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Capitalized commissions at the years ended December 31, 2024 and 2023 were $<span id="xdx_907_eus-gaap--CapitalizedContractCostNetCurrent_iI_c20241231_zEGWTSjRSUWe" title="Capitalized commissions">31,504</span> and $<span id="xdx_900_eus-gaap--CapitalizedContractCostNetCurrent_iI_c20231231_zLBRb5Rzhu2c" title="Capitalized commissions">51,472</span>, respectively, and are included within prepaid expenses and other current assets on the consolidated balance sheets.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_89A_eus-gaap--CapitalizedContractCostTableTextBlock_zY4HaTvDxmQf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following summarizes the costs to obtain a contract activity during the years ended December 31, 2024 and 2023:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8BF_ztVbMQicanXa" style="display: none">Schedule of Costs to Obtain Contract Activity</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 86%">Balance - December 31, 2022</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--CapitalizedContractCostNetCurrent_iS_c20230101__20231231_zpN8pdL38pMl" style="width: 10%; text-align: right" title="Beginning Balance">69,737</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Commissions Incurred</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_ecustom--CommissionsIncurred_c20230101__20231231_zXXKjQytQ8w3" style="text-align: right" title="Commissions Incurred">242,810</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Deferred Commissions Recognized</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_ecustom--DeferredCommissionsRecognized_iN_di_c20230101__20231231_z7yn9HUB23lf" style="border-bottom: Black 1pt solid; text-align: right" title="Deferred Commissions Recognized">(261,075</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Balance - December 31, 2023</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--CapitalizedContractCostNetCurrent_iS_c20240101__20241231_zzmrQSpmot36" style="text-align: right" title="Beginning Balance">51,472</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Commissions Incurred</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_ecustom--CommissionsIncurred_c20240101__20241231_znxzmFOLk0B4" style="text-align: right" title="Commissions Incurred">180,141</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Deferred Commissions Recognized</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_ecustom--DeferredCommissionsRecognized_iN_di_c20240101__20241231_zvBBhWzHUHxh" style="border-bottom: Black 1pt solid; text-align: right" title="Deferred Commissions Recognized">(200,109</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Balance - December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_eus-gaap--CapitalizedContractCostNetCurrent_iE_c20240101__20241231_zLutDskHUPM6" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending Balance">31,504</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AE_ziQ0zoyUIBej" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> P30D The performance obligations identified include access to the suite and platform, within the parameters established, and within the standards established in the agreement. Contracts include a standalone selling price for the number of webinars and hosts as a performance obligation. There are no financing components and payments are typically net 30 of date or receipt of invoice. It is nearly 100% certain that a significant revenue reversal will not occur. The Company recognizes revenue for its sale of Demio services over time which corresponds with the period of time that access to the service is provided. The performance obligations identified include access to the suite and platform, within the parameters established, and within the standards established in the agreement. Contracts include a standalone selling price for the number of simultaneous published events as a performance obligation. There are no financing components and payments are typically net 30 of date or receipt of invoice. It is nearly 100% certain that a significant revenue reversal will not occur. The Company recognizes revenue for its sale of Reach services over time which corresponds with the timing the service is rendered. The Company enters into fixed price subscription contracts with customers, which can be monthly, annual, or multi-year agreements which auto-renew without discount for additional periods of the same duration as the initial term, unless either party requests termination in writing at least thirty (30) days prior to the end of the initial service term. The subscription revenues are recognized ratably over the term of the service agreement, which is considered an output method, as the obligation of hosting the SaaS product is fulfilled over the course of the agreement. The Company does not charge for implementation or recognize any revenues upfront due to minimal effort required. There are no financing components and payments are typically net 30 of date of receipt of invoice, or typically net 90 date of receipt of invoice for customers on multi-year subscription agreement contracts. It is nearly 100% certain that a significant revenue reversal will not occur. 239000 375000 <p id="xdx_892_eus-gaap--DisaggregationOfRevenueTableTextBlock_zXGXiWr1o62l" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table summarizes revenue by region based on the billing address of customers for the years ended December 31, 2024 and 2023:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8B7_z5IME19WV13g" style="display: none">Summary of Revenue by Region</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year Ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Percentage of Revenue</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Percentage of Revenue</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%; padding-left: 10pt">Americas</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20240101__20241231__srt--StatementGeographicalAxis__srt--AmericasMember_zM3Oy0fEf8zk" style="width: 10%; text-align: right" title="Revenue Amount">2,564,074</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_ecustom--ConcentrationRiskPercentage_dp_c20240101__20241231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerMember__srt--StatementGeographicalAxis__srt--AmericasMember_zgVJWDB0y0L5" style="width: 10%; text-align: right" title="Percentage of Revenue">57</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20230101__20231231__srt--StatementGeographicalAxis__srt--AmericasMember_zXFTma0D4FT6" style="width: 10%; text-align: right" title="Revenue Amount">2,677,050</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_ecustom--ConcentrationRiskPercentage_dp_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerMember__srt--StatementGeographicalAxis__srt--AmericasMember_zcDcQCGFtZT3" style="width: 10%; text-align: right" title="Percentage of Revenue">59</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Europe, Middle East and Africa (EMEA)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20240101__20241231__srt--StatementGeographicalAxis__us-gaap--EMEAMember_zl3Mgr5MizF2" style="text-align: right" title="Revenue Amount">1,492,561</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--ConcentrationRiskPercentage_dp_c20240101__20241231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerMember__srt--StatementGeographicalAxis__us-gaap--EMEAMember_z5Dlu2YEKusa" style="text-align: right" title="Percentage of Revenue">33</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20230101__20231231__srt--StatementGeographicalAxis__us-gaap--EMEAMember_zHHLiYUt60Rl" style="text-align: right" title="Revenue Amount">1,511,886</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_ecustom--ConcentrationRiskPercentage_dp_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerMember__srt--StatementGeographicalAxis__us-gaap--EMEAMember_zmFeLE6sQ529" style="text-align: right" title="Percentage of Revenue">33</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Asia Pacific</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20240101__20241231__srt--StatementGeographicalAxis__srt--AsiaPacificMember_zOHKiPBv9MJj" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue Amount">471,244</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_ecustom--ConcentrationRiskPercentage_dp_c20240101__20241231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerMember__srt--StatementGeographicalAxis__srt--AsiaPacificMember_zR1YuVl1Xyzg" style="border-bottom: Black 1pt solid; text-align: right" title="Percentage of Revenue">10</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20230101__20231231__srt--StatementGeographicalAxis__srt--AsiaPacificMember_z8QmtQ5eRGW8" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue Amount">372,364</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_ecustom--ConcentrationRiskPercentage_dp_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerMember__srt--StatementGeographicalAxis__srt--AsiaPacificMember_zNomMQfnJIO9" style="border-bottom: Black 1pt solid; text-align: right" title="Percentage of Revenue">8</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20240101__20241231_zE1q9XiOTmKd" style="border-bottom: Black 2.5pt double; text-align: right" title="Revenue Amount">4,527,879</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98A_ecustom--ConcentrationRiskPercentage_dp_c20240101__20241231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerMember_zW9jDV5bjJ2l" style="border-bottom: Black 2.5pt double; text-align: right" title="Percentage of Revenue">100</td><td style="padding-bottom: 2.5pt; text-align: left">%</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20230101__20231231_zOG0HjqxOcX7" style="border-bottom: Black 2.5pt double; text-align: right" title="Revenue Amount">4,561,300</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_983_ecustom--ConcentrationRiskPercentage_dp_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--GeographicConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerMember_zC1rKm8gB4ta" style="border-bottom: Black 2.5pt double; text-align: right" title="Percentage of Revenue">100</td><td style="padding-bottom: 2.5pt; text-align: left">%</td></tr> </table> 2564074 0.57 2677050 0.59 1492561 0.33 1511886 0.33 471244 0.10 372364 0.08 4527879 1 4561300 1 The Company receives payments from customers based upon agreed-upon contractual terms, typically within 30 days of invoicing the customer. <p id="xdx_89B_eus-gaap--ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock_z0qRhypvIG1f" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8BA_znz2Q2O6MMKh" style="display: none">Schedule of Accounts Receivable, Net</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Opening Balance</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Closing Balance</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Opening Balance</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Closing Balance</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">1/1/2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">12/31/2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">1/1/2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">12/31/2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%; text-align: left">Accounts receivable, net</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--AccountsReceivableNetCurrent_iS_c20240101__20241231_zW9Rk1uUV3ci" style="width: 10%; text-align: right" title="Opening Balance">105,049</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--AccountsReceivableNetCurrent_iE_c20240101__20241231_z5OqhX5ZzO1" style="width: 10%; text-align: right" title="Closing Balance">936,321</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--AccountsReceivableNetCurrent_iS_c20230101__20231231_z3oy0bvYB7D" style="width: 10%; text-align: right" title="Opening Balance">68,416</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--AccountsReceivableNetCurrent_iE_c20230101__20231231_zuLLuOZWUh7c" style="width: 10%; text-align: right" title="Closing Balance">105,049</td><td style="width: 1%; text-align: left"> </td></tr> </table> 105049 936321 68416 105049 270335 299450 31504 51472 <p id="xdx_89A_eus-gaap--CapitalizedContractCostTableTextBlock_zY4HaTvDxmQf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following summarizes the costs to obtain a contract activity during the years ended December 31, 2024 and 2023:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8BF_ztVbMQicanXa" style="display: none">Schedule of Costs to Obtain Contract Activity</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 86%">Balance - December 31, 2022</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--CapitalizedContractCostNetCurrent_iS_c20230101__20231231_zpN8pdL38pMl" style="width: 10%; text-align: right" title="Beginning Balance">69,737</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Commissions Incurred</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_ecustom--CommissionsIncurred_c20230101__20231231_zXXKjQytQ8w3" style="text-align: right" title="Commissions Incurred">242,810</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Deferred Commissions Recognized</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_ecustom--DeferredCommissionsRecognized_iN_di_c20230101__20231231_z7yn9HUB23lf" style="border-bottom: Black 1pt solid; text-align: right" title="Deferred Commissions Recognized">(261,075</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Balance - December 31, 2023</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--CapitalizedContractCostNetCurrent_iS_c20240101__20241231_zzmrQSpmot36" style="text-align: right" title="Beginning Balance">51,472</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Commissions Incurred</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_ecustom--CommissionsIncurred_c20240101__20241231_znxzmFOLk0B4" style="text-align: right" title="Commissions Incurred">180,141</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Deferred Commissions Recognized</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_ecustom--DeferredCommissionsRecognized_iN_di_c20240101__20241231_zvBBhWzHUHxh" style="border-bottom: Black 1pt solid; text-align: right" title="Deferred Commissions Recognized">(200,109</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Balance - December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_eus-gaap--CapitalizedContractCostNetCurrent_iE_c20240101__20241231_zLutDskHUPM6" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending Balance">31,504</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 69737 242810 261075 51472 180141 200109 31504 <p id="xdx_800_eus-gaap--FairValueDisclosuresTextBlock_z1GTj7eI0hS3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>8. <span id="xdx_824_z18Z3X3YDqg1">Fair Value Measurements</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The fair value measurements discussed herein are based upon certain market assumptions and pertinent information available to management as of and during the periods ended December 31, 2024 and the year ended December 31, 2023. The carrying amount of accounts payable approximated fair value as they are short term in nature.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Fair Value on a Recurring Basis</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company follows the guidance in ASC 820 <i>Fair Value Measurements and Disclosures</i> for its financial assets and liabilities that are re-measured and reported at fair value at each reporting period, and non-financial assets and liabilities that are re-measured and reported at fair value at least annually. The estimated fair value of the Public Warrants liabilities represent Level 1 measurements. The estimated fair value of the convertible notes bifurcated embedded derivative liabilities, GEM warrant liabilities, Yorkville convertible note, SAFE, Agile term notes and 1800 Diagonal convertible notes represent Level 3 measurements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_899_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_zj7FKwnvdPGh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table presents information about the Company’s financial instruments that are measured at fair value on a recurring basis at December 31, 2024 and December 31, 2023, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="display: none"><span id="xdx_8B6_zqa1gEWJZYfg">Schedule of Fair Value on Recurring Basis</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Description</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zARq0eYHUd8g" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zt9J3oAVoGig" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Assets:</td><td> </td> <td style="text-align: right"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeAsset_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zrS8825eLkG7" style="vertical-align: bottom; background-color: White"> <td style="width: 52%; text-align: left">Bifurcated embedded derivative asset - related party</td><td style="width: 2%"> </td> <td style="width: 14%; text-align: center">3</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">63,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl5118">—</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_ecustom--DefiniteLivedIntangiblesAtAcquisitionDate_iI_zILmbwMWaGtd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Definite-lived intangibles<span id="xdx_F46_zW2mdnJEFmP2">*</span></td><td> </td> <td style="text-align: center">3</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,903,320</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl5121">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--DefiniteLivedIntangiblesMeasuredAtImpairmentTesting_iI_zdm6JLSyBFH8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Definite-lived intangibles<span id="xdx_F44_zEmbJpCgmwA5">**</span></td><td> </td> <td style="text-align: center">3</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,883,853</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl5124">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--Goodwill_iI_hus-gaap--StatementBusinessSegmentsAxis__custom--OpenReelMember_zT66taRS0HVa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-size: 10pt">Goodwill - OpenReel (<i>Note 5</i>)<span id="xdx_F4D_zmUTPFhp3Ehf">*</span></span></td><td> </td> <td style="text-align: center">3</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">19,526,409</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl5127">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--Goodwill_iI_zyJA0wyD577g" style="vertical-align: bottom; background-color: White"> <td>Goodwill<span id="xdx_F4B_zhBOJkKxhJab">**</span></td><td> </td> <td style="text-align: center">3</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">18,972,475</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,171,526</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Liabilities:</td><td> </td> <td style="text-align: right"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Warrant liabilities - public</td><td> </td> <td style="text-align: center">1</td><td> </td> <td style="text-align: left">$</td><td id="xdx_982_ecustom--WarrantLiabilitiesPublic_iI_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zJonD1TVuPP7" style="text-align: right" title="Warrant liabilities - public">2,300</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_ecustom--WarrantLiabilitiesPublic_iI_c20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zAu3ZIpt79wd" style="text-align: right" title="Warrant liabilities - public">575,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--GEMWarrantLiabilities_iI_zDbXFInPh307" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">GEM warrant liabilities</td><td> </td> <td style="text-align: center">3</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">15,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">641,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--ConvertibleDebt_iI_zFW08H06XFYf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Yorkville convertible note</td><td> </td> <td style="text-align: center">3</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl5139">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,766,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--NotesPayable_iI_zogEaXHe1dXk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Agile term notes</td><td> </td> <td style="text-align: center">3</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,143,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl5143">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--ConvertibleNotesPayable_iI_zmYNfLcCO5y2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">1800 Diagonal convertible notes</td><td> </td> <td style="text-align: center">3</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">432,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl5146">—</span></td><td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td id="xdx_F04_zxct8s7hkNub" style="width: 15pt; text-align: right">*</td><td id="xdx_F17_zNAAzQSCel57" style="text-align: justify">Certain assets measured at the acquisition date</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td id="xdx_F0F_zHd888Pr9lX2" style="width: 15pt; text-align: right">**</td><td id="xdx_F1C_zYtIzjF6Znca" style="text-align: justify">Measured at year-end impairment testing</td> </tr></table> <p id="xdx_8A7_z8I7siqKRR2h" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Warrant Liability - Public Warrants</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company assumed Public Warrants in the Merger, exercisable into <span id="xdx_902_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember__us-gaap--AwardTypeAxis__custom--ReverseStockSplitMember_z2uFBpVmCYWi" title="Warrants outstanding"><span id="xdx_90D_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember_zAlLpeIxgwpd" title="Warrants outstanding">23,000</span></span> shares of Common A Common Stock, which were outstanding as of December 31, 2024 and December 31, 2023. The fair values of the Public Warrants are measured based on the listed market price of such warrants through December 31, 2024. See <i>Note 15 - Warrant Liabilities </i>for further details.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of December 31, 2024, the Company recognized a gain of approximately $<span id="xdx_905_eus-gaap--FairValueAdjustmentOfWarrants_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember_zqVjCayWal46" title="Gain (loss) resulting from a decrease/(increase) in fair value of derivative warrant liabilities">572,700</span> resulting from changes in the fair value of the derivative warrant liabilities, presented as change in fair value of warrant liabilities - related party in the accompanying condensed consolidated statements of operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_893_ecustom--SummaryOfChangesInTheFairValueOfTheWarrantsLiabilityTableTextBlock_hus-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsLiabilityMember_zhKgbTlItIcf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following tables set forth a summary of the changes in the fair value of the Public Warrants liability which are Level 1 financial liabilities that are measured at fair value on a recurring basis:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BF_zcPkHNQA4VH8">Summary of Changes in the Fair Value of the Warrants Liability</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20240101__20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsLiabilityMember_zd8sXwuJ5iMi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40B_ecustom--PublicWarrantsLiability_iS_zKumgqf2ysb3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 84%">Balance at December 31, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">575,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--ChangeInFairValueOfPublicWarrantsLiability_zOV4z6FdLan2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(572,700</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40E_ecustom--PublicWarrantsLiability_iE_zuzk8rsHiBm4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Balance at December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,300</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A7_zs2YFIrxTUo2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Warrant Liability - GEM Warrants</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The measurement of fair value of the GEM Warrants were determined utilizing a Monte Carlo simulation considering all relevant assumptions current at the date of issuance (i.e., share price, exercise price, term, volatility, risk-free rate, probability of dilutive term of three years, and expected time to conversion). Refer to <i>Note 15 - Warrant Liabilities</i> for further details.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of December 31, 2024, the Company recognized a gain of approximately $<span id="xdx_906_eus-gaap--FairValueAdjustmentOfWarrants_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--GemWarrantsLiabilityMember_zivnVdBmmyg8" title="Gain (loss) resulting from a decrease/(increase) in fair value of derivative warrant liabilities">626,000</span>, resulting from changes in the fair value of the derivative warrant liabilities, presented as change in fair value of warrant liabilities in the accompanying condensed consolidated statements of operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_898_ecustom--SummaryOfChangesInTheFairValueOfTheWarrantsLiabilityTableTextBlock_hus-gaap--ClassOfWarrantOrRightAxis__custom--GemWarrantsLiabilityMember_zHCx1BmT8Gzd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following tables set forth a summary of the changes in the fair value of the GEM Warrants liability which are Level 3 financial liabilities that are measured at fair value on a recurring basis:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B1_zRbxRoSz4Ntk">Summary of Changes in the Fair Value of the Warrants Liability</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--GemWarrantsLiabilityMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zTsbx9AtBBG7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_ecustom--GemWarrantsLiability_iS_zZNBff2br446" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 84%">Balance at December 31, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">641,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_ecustom--GemWarrantsLiability_iS_zC206zcZXxzf" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Change in fair value, Beginning balance</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">641,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--ChangeInFairValueOfGemWarrantsLiability_iN_di_z6C9uzunBFZg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(626,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40C_ecustom--GemWarrantsLiability_iE_zSXR0p56Vfg7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Balance at December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">15,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_405_ecustom--GemWarrantsLiability_iE_zIQFCEbXg6v6" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Change in fair value, Ending balance</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">15,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AA_z2nySW7A5d0l" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Yorkville Convertible Notes</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The measurement of fair value of the Yorkville convertible notes were determined utilizing a Monte Carlo simulation considering all relevant assumptions current at the date of issuance (i.e., share price, term, volatility, risk-free rate, and probability of optional redemption). Refer to <i>Note 14 - Debt</i> for further details.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of December 31, 2024, the Company recognized a loss of approximately $<span id="xdx_906_ecustom--FairValueAdjustmentOfConvertibleNote_c20240101__20241231__us-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zaaZRyodZ7va" title="Loss of changes in the fair value of the Yorkville convertible note">693,000</span> resulting from changes in the fair value of the Yorkville convertible notes, presented as change in fair value of convertible promissory notes in the accompanying condensed consolidated statements of operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_890_ecustom--SummaryOfChangesInFairValueOfConvertibleNoteTableTextBlock_z1C0FIcgWtVg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following tables set forth a summary of the changes in the fair value of the Yorkville convertible notes which is a Level 3 financial liability measured at fair value on a recurring basis:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BD_zvFm9mWylANd">Summary of Changes In Fair Value Of Yorkville Convertible Note</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20240101__20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zAiB28w9VQ0k" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_400_eus-gaap--ConvertibleDebt_iS_zzGPwTy5ruj9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 84%">Balance at December 31, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1,766,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--IssuanceOfYorkvilleConvertibleNote_zaxKEH5MIrs9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Issuance of Yorkville convertible note</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,250,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--GainsLossesOnDebtIssuance_z30aDJuF78r4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loss on debt issuance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">171,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--PaymentInSharesToSettleYorkvilleConvertibleNotes_zNP0vuTmDWq8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Payment in shares to settle Yorkville convertible notes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,130,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--RepaymentsOfConvertibleDebt_iN_di_z2heppZhstV3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Repayment in cash of Yorkville convertible notes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(750,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_40B_ecustom--ChangeInFairValueOfYorkvilleConvertibleNote_zyXU6lJiKWu1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">693,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--ConvertibleDebt_iE_zOMcR7goSdAl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Balance at December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl5194">—</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AE_zvFs6gpwRdr2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Bifurcated Embedded Derivative Assets and Liabilities</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The fair value of the embedded put options, relating to the Convertible Notes - Related Party, Convertible Notes, and Term and Convertible Notes (CP BF)<i>,</i> was determined using a Black Scholes option pricing model. Estimating fair values of embedded conversion features requires the development of significant and subjective estimates that may, and are likely to, change over the duration of the instrument with related changes in internal and external market factors. Because the embedded conversion features are initially and subsequently carried at fair values, the Company’s consolidated statements of operations will reflect the volatility in these estimate and assumption changes. On December 14, 2023, all outstanding principal and accrued interest, including the carrying value of any related embedded derivative, related to the Related Party Convertible Notes and Third Party</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Convertible Notes converted into the Company’s Class A Common Stock pursuant to the close of the Merger Agreement, terminating the embedded derivative.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_89B_eus-gaap--ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock_z3gx10BHxCpl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table sets forth a summary of the changes in the fair value of the bifurcated embedded derivative liabilities for the year ended December 31, 2023, related to the Related Party and Third Party Convertible Debt, respectively, which are Level 3 financial liabilities that are measured at fair value on a recurring basis:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B4_zWwfHDrfEhF8">Schedule of Derivative Liabilities</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center"> </td><td style="display: none; font-style: italic; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zUEYRJ8eYS92" style="border-bottom: Black 1pt solid; display: none; font-style: italic; text-align: center">Related Party</td><td style="display: none; padding-bottom: 1pt; font-style: italic"> </td><td style="display: none; font-style: italic; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ThirdPartyConvertibleDebtMember_zJJmQCWsYdW8" style="border-bottom: Black 1pt solid; display: none; font-style: italic; text-align: center">Third Party</td><td style="display: none; padding-bottom: 1pt; font-style: italic"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-style: italic; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-style: italic; text-align: center">Related Party</td><td style="padding-bottom: 1pt; font-style: italic"> </td><td style="font-style: italic; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-style: italic; text-align: center">Third Party</td><td style="padding-bottom: 1pt; font-style: italic"> </td></tr> <tr id="xdx_409_eus-gaap--DerivativeAssetsLiabilitiesAtFairValueNet_iS_z01WOoQwzicg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 68%">Balance at December 31, 2022</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1,936,827</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">845,473</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--IssuanceOfConvertibleNotes_zPLmHkZVhyS4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Issuance of convertible notes with bifurcated embedded derivative</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,126,451</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">559,390</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet_iN_di_zrqx27jwWxTd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,063,278</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,404,863</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--DerivativeAssetsLiabilitiesAtFairValueNet_iE_zDhjQmm2FeC6" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Balance at December 31, 2023</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl5207">—</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl5208">—</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A9_zXjd88IG2lg3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The fair value of the embedded put options, relating to the Convertible Note to CP BF issued on September 23, 2024<i>,</i> was determined using a Black Scholes option pricing model. Estimating fair values of embedded conversion features requires the development of significant and subjective estimates that may, and are likely to, change over the duration of the instrument with related changes in internal and external market factors. Because the embedded conversion features are initially and subsequently carried at fair values, the Company’s consolidated statements of operations will reflect the volatility in these estimate and assumption changes. The bifurcated embedded derivative net asset was $<span id="xdx_901_ecustom--BifurcatedEmbeddedDerivativeAssetsCurrent_iI_c20241231_zYGM5diFSB2e" title="Bifurcated embedded derivative net assets">63,000</span> as of December 31, 2024. Refer to <i>Note 14 - Debt</i> for further details.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_892_eus-gaap--ScheduleOfDerivativeAssetsAtFairValueTableTextBlock_zgTfbH2Wytt8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table sets forth a summary of the changes in the fair value of the bifurcated embedded derivative asset for the year ended December 31, 2024, relating to the Convertible Note to CP BF issued on September 23, 2024, which are Level 3 financial liabilities that are measured at fair value on a recurring basis:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BA_zlD1Ua2tbvpb">Schedule of Derivate Assets</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20240101__20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--DebtInstrumentAxis__custom--CpBfConvertibleNotesMember_zGq455uZFy2b" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-style: italic; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-style: italic; text-align: center">CP BF Convertible</td><td style="padding-bottom: 1pt; font-style: italic"> </td></tr> <tr id="xdx_403_ecustom--IssuanceOfConvertibleNotes_zuhoxtJdae8h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 84%; text-align: left">Issuance of convertible notes with bifurcated embedded derivative asset</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">12,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet_iN_di_znai12Qgvm0i" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">51,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--DerivativeAssetsLiabilitiesAtFairValueNet_iE_zmzt0cLTl4J6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Balance at December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">63,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--DerivativeAssetsLiabilitiesAtFairValueNet_iE_ziBfdZJKabnk" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Balance</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">63,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A9_zLi1cQQ0Uia3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Simple Agreements for Future Equity (SAFE)</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During 2021, the Company entered into Simple Agreements for Future Equity (SAFE) arrangements (the “SAFEs”). In the event of an Equity Financing (as defined in the SAFEs agreements), the SAFEs will automatically convert into shares of the Company’s common or preferred stock at a discount of <span id="xdx_902_ecustom--PercentageOfDiscountPricePerShare_pid_dp_uPure_c20210101__20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SimpleAgreementsForFutureEquityMember_zijHVmcXNnA" title="Discount price">15</span>% of the per share price of the shares offered in the Equity Financing (the “Discount Price”). In the event of a Liquidity Event, SPAC Transaction or Dissolution Event (all terms as defined in the SAFEs agreements), the holders of the SAFEs will be entitled to receive cash or shares of the Company’s common or preferred stock. The number of shares required to be issued to settle the SAFEs at the equity financing is variable, because that number will be determined by the discounted fair value of the Company’s equity shares on the date of settlement (i.e., Discount Price). Regardless of the fair value of the shares on the date of settlement, the holder will receive a fixed monetary value based on the Purchase Amount of the SAFE. If there is a Liquidity Event or SPAC Transaction before the settlement or termination of the SAFEs, the SAFEs will automatically be entitled to receive a portion of Proceeds, due and payable immediately prior to, or concurrent with, the consummation of such Liquidity Event or SPAC Transaction, equal to the greater of (i) two times (2x) the Purchase Amount (the “Cash-Out Amount”) or (ii) the amount payable on the number of shares of Common Stock equal to the Purchase Amount divided by the Liquidity Price (as defined in the SAFEs agreements). Refer to <i>Note 16 - Simple Agreements for Future Equity</i> for additional information related to the Company’s SAFEs.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The fair value of the SAFEs was determined using a scenario-based method for the pre-modification SAFE’s and a Monte Carlo simulation method for the post-modification SAFEs. The value of the SAFE liability as of December 31, 2023 is based on significant inputs not observable in the market, which represents a Level 3 measurement within the fair value hierarchy. The fair value of the SAFEs on the date of issuance was determined to be $<span id="xdx_900_eus-gaap--DebtInstrumentFaceAmount_iI_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SimpleAgreementsForFutureEquityMember_zu7t6pWnYzdh" title="Face value of the convertible notes">3,836,000</span>. On December 14, 2023, all outstanding principal related to the Third Party SAFEs and Related Party SAFEs converted into the Company’s Class A Common Stock pursuant to the close of the Merger Agreement. Upon the conversion described above, the SAFEs were $<span id="xdx_90E_ecustom--ConversionUponSimpleAgreementsForFutureEquity_iI_pid_c20241231_zodqCyWYajwd" title="Conversion upon simple agreements for future equity"><span id="xdx_90F_ecustom--ConversionUponSimpleAgreementsForFutureEquity_iI_pid_c20231231_zoo3yLuS6Dkl" title="Conversion upon simple agreements for future equity">0</span></span> as of December 31, 2024 and December 31, 2023, respectively. Refer to <i>Note 16 - Simple Agreements for Future Equity</i> for further details.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_89F_eus-gaap--FairValueConcentrationOfRiskTextBlock_z4dN6oXgjuz" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following tables set forth a summary of the activity of the Related Party and Third Party SAFE liabilities, respectively (See <i>Note 16 - Simple Agreements for Future Equity</i> for further detail), which represents a recurring fair value measurement at the end of the relevant reporting period:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BA_zB8b9rBYHQLh">Schedule of Fair Value Measurements</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center"> </td><td style="display: none; font-style: italic; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zdYUeIazByg3" style="border-bottom: Black 1pt solid; display: none; font-style: italic; text-align: center">Related Party</td><td style="display: none; padding-bottom: 1pt; font-style: italic"> </td><td style="display: none; font-style: italic; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ThirdPartySafeLiabilitiesMember_zrtYsb8gWg1b" style="border-bottom: Black 1pt solid; display: none; font-style: italic; text-align: center">Third Party</td><td style="display: none; padding-bottom: 1pt; font-style: italic"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-style: italic; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-style: italic; text-align: center">Related Party</td><td style="padding-bottom: 1pt; font-style: italic"> </td><td style="font-style: italic; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-style: italic; text-align: center">Third Party</td><td style="padding-bottom: 1pt; font-style: italic"> </td></tr> <tr id="xdx_401_ecustom--SimpleAgreementForFutureEquityCurrent_iS_zDyYNrcFYyM2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 68%">Balance at December 31, 2022</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">8,802,196</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">663,804</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--ChangeInFairValueOfSimpleAgreementForFutureEquity_z8jmZn5x0xo4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Change in fair value</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,752,430</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(207,570</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_ecustom--ConversionOfSimpleAgreementForFutureEquity_iN_di_ztzDHJMUttA8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Conversion on SAFEs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(6,049,766</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(456,234</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_408_ecustom--SimpleAgreementForFutureEquityCurrent_iE_zHrMT2Qcic0e" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Balance at December 31, 2023</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl5241">—</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl5242">—</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A2_zqrXCAw7q3hg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Term Notes (Agile)</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On July 22, 2024, September 13, 2024, and December 12, 2024, the Company entered into term loan promissory note agreements with Agile Lending, LLC, and Agile Capital Funding, LLC, as the collateral agent, as discussed further in Note 14 of the notes to the consolidated financial statements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Fair value measurements discussed herein are based upon certain market assumptions and pertinent information available to management as of December 31, 2024. The Company classified the Agile Term Notes as a Level 3 fair value measurement and used a discounted cash flow model to calculate the fair values as of July 22, 2024, September 13, 2024, and December 12, 2024, respectively, and for each subsequent reporting period. Key inputs for the valuation are summarized below. The discounted cash flow model uses inputs such as the contractual term of the note and a market participant interest rate.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_894_eus-gaap--FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_zRqWKvHWvC6c" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The range of key inputs at issuance of the Agile term notes and for the period ended December 31, 2024, were as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B1_zPdlpz6cEMb8" style="display: none">Schedule of Range of key Inputs at Issuance</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">July Agile Note</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September Agile Note</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December Agile Note</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Key Inputs</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">July 22, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 12, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 13, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 12, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 12, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%; text-align: left">Contractual term (years)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><span id="xdx_90E_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_c20240722__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--FinancialInstrumentAxis__custom--JulyAgileNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zIop0wqfwmX4" title="Debt instrument, measurement input">0.55</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><span id="xdx_906_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_c20241212__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--FinancialInstrumentAxis__custom--JulyAgileNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zof56ted4dd2" title="Debt instrument, measurement input"><span style="-sec-ix-hidden: xdx2ixbrl5248">-</span></span></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><span id="xdx_90D_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_c20240913__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--FinancialInstrumentAxis__custom--SeptemberAgileNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_z4nT0LIpR0Ih" title="Debt instrument, measurement input">0.48</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><span id="xdx_905_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_c20241212__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--FinancialInstrumentAxis__custom--SeptemberAgileNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_znvVJ4qfjrc6" title="Debt instrument, measurement input">0.43</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><span id="xdx_900_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_c20241212__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--FinancialInstrumentAxis__custom--DecemberAgileNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_z3FGsapjxojd" title="Debt instrument, measurement input">0.61</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><span id="xdx_90A_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--FinancialInstrumentAxis__custom--DecemberAgileNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zrYwGDk4uy53" title="Debt instrument, measurement input">0.56</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Interest rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_c20240722__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--FinancialInstrumentAxis__custom--JulyAgileNoteMember__us-gaap--MeasurementInputTypeAxis__custom--MeasurementInputInterestRateMember_z3tEODJrJyl5" title="Debt instrument, measurement input">18.92</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_c20241212__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--FinancialInstrumentAxis__custom--JulyAgileNoteMember__us-gaap--MeasurementInputTypeAxis__custom--MeasurementInputInterestRateMember_zMCCuS6z5lu9" title="Debt instrument, measurement input">9.30</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_c20240913__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--FinancialInstrumentAxis__custom--SeptemberAgileNoteMember__us-gaap--MeasurementInputTypeAxis__custom--MeasurementInputInterestRateMember_zCOvPovCufr3" title="Debt instrument, measurement input">14.37</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_c20241212__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--FinancialInstrumentAxis__custom--SeptemberAgileNoteMember__us-gaap--MeasurementInputTypeAxis__custom--MeasurementInputInterestRateMember_zPEPwkW7EWv2" title="Debt instrument, measurement input">9.33</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_c20241212__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--FinancialInstrumentAxis__custom--DecemberAgileNoteMember__us-gaap--MeasurementInputTypeAxis__custom--MeasurementInputInterestRateMember_z6zaqaOqbDBc" title="Debt instrument, measurement input">9.48</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--FinancialInstrumentAxis__custom--DecemberAgileNoteMember__us-gaap--MeasurementInputTypeAxis__custom--MeasurementInputInterestRateMember_zeBKtIXKnuc" title="Debt instrument, measurement input">10.13</span></td><td style="text-align: left">%</td></tr> </table> <p id="xdx_8A1_zbgRJdANqsfi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Refer to <i>Note 14 - Debt</i>, for a summary of the changes in the fair value of the Agile term notes which is a Level 3 financial liability measured at fair value on a recurring basis.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Convertible Notes (1800 Diagonal)</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On August 16, 2024, September 24, 2024, and December 10, 2024, the Company entered into convertible promissory notes with 1800 Diagonal Lending, LLC, as discussed further in Note 14 of the notes to the consolidated financial statements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Fair value measurements discussed herein are based upon certain market assumptions and pertinent information available to management as of December 31, 2024. The Company classified the Notes as a Level 3 fair value measurement and used the Black-Scholes option pricing model to calculate the fair values as of August 16, 2024, September 24, 2024, and December 10, 2024, respectively and for each subsequent reporting period. Key inputs for the simulation are summarized below. The Black-Scholes simulation uses inputs such as the stock price, volatility, the contractual term of the note, risk free interest rates and dividend yields.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_890_eus-gaap--FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_hus-gaap--FinancialInstrumentAxis__custom--DiagonalConvertibleNotesMember_zQVXBJ1U2gR6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The range of key inputs for the Black-Scholes simulations at issuance of the 1800 Diagonal convertible notes and for the year ended December 31, 2024, were as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B1_zDDflcev1KFd" style="display: none">Schedule of Range of key Inputs at Issuance</span></span>  </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; display: none; font-weight: bold">Key Inputs</td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20240816__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueOptionPricingModelMember__us-gaap--FinancialInstrumentAxis__custom--August1800DiagonalNoteMember_z2e6AwlyZl93" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">August 16, 2024</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20241231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueOptionPricingModelMember__us-gaap--FinancialInstrumentAxis__custom--August1800DiagonalNoteMember_z4o6g4RPh41l" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">December 31, 2024</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20240924__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueOptionPricingModelMember__us-gaap--FinancialInstrumentAxis__custom--September1800DiagonalNoteMember_z3fSX0Guhgk6" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">September 24, 2024</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20241231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueOptionPricingModelMember__us-gaap--FinancialInstrumentAxis__custom--September1800DiagonalNoteMember_zsqU0LvCdRY3" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">December 31, 2024</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20241210__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueOptionPricingModelMember__us-gaap--FinancialInstrumentAxis__custom--December1800DiagonalNoteMember_zC2WMWOEcU6f" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">December 10, 2024</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20241231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueOptionPricingModelMember__us-gaap--FinancialInstrumentAxis__custom--December1800DiagonalNoteMember_z4LZZJ1FWRy9" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">December 31, 2024</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">August 1800 Diagonal Note</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 1800 Diagonal Note</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 1800 Diagonal Note</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Key Inputs</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">August 16, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 24, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 10, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember_ztvo5pGsAIRl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%">Stock price</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">55.80</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">15.30</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">82.40</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">15.30</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">20.50</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">15.30</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zjI5JfsFgn6l" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Contractual term (years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.84</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.46</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.86</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.59</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.86</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.80</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zYN9SfmKLnKh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Risk-free rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.00</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.25</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.34</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.23</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.29</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.19</td><td style="text-align: left">%</td></tr> <tr id="xdx_405_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zzySUZ4NwL78" style="vertical-align: bottom; background-color: White"> <td>Volatility<span id="xdx_F4A_zGB8EV7yfUnc">(1)</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">114</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">191</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">192</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">264</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">222</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">232</td><td style="text-align: left">%</td></tr> <tr id="xdx_409_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_hus-gaap--MeasurementInputTypeAxis__custom--MeasurementInputMaturityProbabilityMember_ztMr5Y7Af1Ei" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Maturity probability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">80</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">80</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">80</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">80</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">75</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">75</td><td style="text-align: left">%</td></tr> <tr id="xdx_403_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_hus-gaap--MeasurementInputTypeAxis__custom--MeasurementInputDefaultProbabilityMember_zON0pzGxAdsc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Default probability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">25</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">25</td><td style="text-align: left">%</td></tr> <tr id="xdx_401_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zmjS1DgUt2h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Dividend yield</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.00</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.00</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.00</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.00</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.00</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.00</td><td style="text-align: left">%</td></tr> <tr id="xdx_40B_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zphpB60kOCig" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="display: none; text-align: left">Debt Instrument, Measurement Input</td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td style="display: none; text-align: right">0.00</td><td style="display: none; text-align: left">%</td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td style="display: none; text-align: right">0.00</td><td style="display: none; text-align: left">%</td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td style="display: none; text-align: right">0.00</td><td style="display: none; text-align: left">%</td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td style="display: none; text-align: right">0.00</td><td style="display: none; text-align: left">%</td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td style="display: none; text-align: right">0.00</td><td style="display: none; text-align: left">%</td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td style="display: none; text-align: right">0.00</td><td style="display: none; text-align: left">%</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><sup id="xdx_F0E_zNLxGNUTgDXg">(1)</sup></td><td id="xdx_F10_zQS7Vxj1Lczd" style="text-align: justify">The Company utilized historical equity volatility in measurement of the fair value of the notes.</td> </tr></table> <p id="xdx_8AB_zEcX4CQsMhYb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Refer to <i>Note 14 - Debt</i>, for a summary of the changes in the fair value of the 1800 Diagonal convertible notes which is a Level 3 financial liability measured at fair value on a recurring basis.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Business Combination, including Definite-Lived Intangibles</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_892_ecustom--ScheduleOfSignificantUnobservableInputsUsedInOurLevel3FairValueMeasurementTableTextBlock_zvWRPXj4tGFg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The significant unobservable inputs used in our level 3 fair value measurement of business combinations, including definite-lived intangibles at the acquisition date (<i>Note</i> and <i>5</i>) are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8BC_z4Glmqx5vS64" style="display: none">Schedule of Significant Unobservable Inputs Used in Fair Value Measurement</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Area</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Valuation Techniques</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Unobservable Input</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%; text-align: left"><span style="font-size: 10pt">Business Combination (<i>Note 5</i>)</span></td><td style="width: 2%"> </td> <td style="width: 14%">Various *</td><td style="width: 2%"> </td> <td style="width: 22%; text-align: left">Growth rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_907_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--VariousMember__us-gaap--MeasurementInputTypeAxis__custom--GrowthRateMember_fKg_____zNHbI1KwXXh4" title="Alternative Investment, Measurement Input">5.8</span></td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 14%"> <span id="xdx_90D_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__custom--VariousMember__us-gaap--MeasurementInputTypeAxis__custom--GrowthRateMember_fKg_____ztdCD5y55D5e" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td> </td><td> </td> <td>Weighted average cost of capital</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--VariousMember__us-gaap--MeasurementInputTypeAxis__custom--WeightedAverageCostOfCapitalMember_fKg_____zXd98hQMEIuf" title="Alternative Investment, Measurement Input">13.5</span></td><td style="text-align: left">%</td><td> </td> <td> <span id="xdx_900_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__custom--VariousMember__us-gaap--MeasurementInputTypeAxis__custom--WeightedAverageCostOfCapitalMember_fKg_____zg1CzkaSFx4k" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td> </td><td> </td> <td style="text-align: left">Internal rate of return</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--VariousMember__us-gaap--MeasurementInputTypeAxis__custom--InternalRateOfReturnMember_fKg_____zHUAtsMnvQG" title="Alternative Investment, Measurement Input">11.3</span></td><td style="text-align: left">%</td><td> </td> <td> <span id="xdx_90A_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__custom--VariousMember__us-gaap--MeasurementInputTypeAxis__custom--InternalRateOfReturnMember_fKg_____zjcpAY10J5c6" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td> </td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-size: 10pt">Customer Relationship (<i>Note 5</i>)</span></td><td> </td> <td style="text-align: left"> Distributor method</td><td> </td> <td style="text-align: left">Long-term revenue growth rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--DistributorMethodMember__us-gaap--MeasurementInputTypeAxis__custom--LongTermRevenueGrowthRateMember_zjMpUd9MsJ9a" title="Alternative Investment, Measurement Input">5.8</span></td><td style="text-align: left">%</td><td> </td> <td> <span id="xdx_906_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__custom--DistributorMethodMember__us-gaap--MeasurementInputTypeAxis__custom--LongTermRevenueGrowthRateMember_zmjguZd35LD5" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td> </td><td> </td> <td style="text-align: left">Revenue growth attributable to exiting customers</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--DistributorMethodMember__us-gaap--MeasurementInputTypeAxis__custom--RevenueGrowthAttributableToExistingCustomersMember_z8Sb1tcZtCi6" title="Alternative Investment, Measurement Input">50.0</span></td><td style="text-align: left">%</td><td> </td> <td> <span id="xdx_909_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__custom--DistributorMethodMember__us-gaap--MeasurementInputTypeAxis__custom--RevenueGrowthAttributableToExistingCustomersMember_z22ZTodN7EEa" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td> </td><td> </td> <td style="text-align: left">Existing customer attrition</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--DistributorMethodMember__us-gaap--MeasurementInputTypeAxis__custom--ExistingCustomerAttritionMember_z36h74Skb6Qg" title="Alternative Investment, Measurement Input">20.0</span></td><td style="text-align: left">%</td><td> </td> <td> <span id="xdx_902_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__custom--DistributorMethodMember__us-gaap--MeasurementInputTypeAxis__custom--ExistingCustomerAttritionMember_zHhmpi4reBgi" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td> </td><td> </td> <td style="text-align: left">Distributor EBITA margin</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--DistributorMethodMember__us-gaap--MeasurementInputTypeAxis__custom--DistributorEBITAMarginMember_zwNQmN0hkN59" title="Alternative Investment, Measurement Input">7.5</span></td><td style="text-align: left">%</td><td> </td> <td> <span id="xdx_90E_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__custom--DistributorMethodMember__us-gaap--MeasurementInputTypeAxis__custom--DistributorEBITAMarginMember_zjCL7eeH31Da" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td> </td><td> </td> <td style="text-align: left">Contributory asset charges rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--DistributorMethodMember__us-gaap--MeasurementInputTypeAxis__custom--ContributoryAssetChargesRateMember__srt--RangeAxis__srt--MinimumMember_znY8r6VjLdKf" title="Alternative Investment, Measurement Input">0.9</span>% - <span id="xdx_906_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--DistributorMethodMember__us-gaap--MeasurementInputTypeAxis__custom--ContributoryAssetChargesRateMember__srt--RangeAxis__srt--MaximumMember_zbwfPZ2xpoKj" title="Alternative Investment, Measurement Input">1.4</span></td><td style="text-align: left">%</td><td> </td> <td><span id="xdx_90F_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__custom--DistributorMethodMember__us-gaap--MeasurementInputTypeAxis__custom--ContributoryAssetChargesRateMember_zCUtTrx5Kae7" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td> </td><td> </td> <td>Weighted average cost of capital</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--DistributorMethodMember__us-gaap--MeasurementInputTypeAxis__custom--WeightedAverageCostOfCapitalMember_zIb5mmuRcXM" title="Alternative Investment, Measurement Input">13.5</span></td><td style="text-align: left">%</td><td> </td> <td> <span id="xdx_909_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__custom--DistributorMethodMember__us-gaap--MeasurementInputTypeAxis__custom--WeightedAverageCostOfCapitalMember_zeAwRPsPyz42" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td> </td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-size: 10pt">Trade name (<i>Note 5</i>)</span></td><td> </td> <td style="text-align: left">Relief-from-royalty method</td><td> </td> <td style="text-align: left">Long-term revenue growth rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--ReliefFromRoyaltyMethodMember__us-gaap--MeasurementInputTypeAxis__custom--LongTermRevenueGrowthRateMember_zF622jk7WEN3" title="Alternative Investment, Measurement Input">5.8</span></td><td style="text-align: left">%</td><td> </td> <td><span id="xdx_90A_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__custom--ReliefFromRoyaltyMethodMember__us-gaap--MeasurementInputTypeAxis__custom--LongTermRevenueGrowthRateMember_zab3Q6TgnRo9" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td> </td><td> </td> <td style="text-align: left">Royalty rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--ReliefFromRoyaltyMethodMember__us-gaap--MeasurementInputTypeAxis__custom--RoyaltyRateMember_zGTcytmjRKYc" title="Alternative Investment, Measurement Input">2.0</span></td><td style="text-align: left">%</td><td> </td> <td><span id="xdx_903_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__custom--ReliefFromRoyaltyMethodMember__us-gaap--MeasurementInputTypeAxis__custom--RoyaltyRateMember_zL61ZdghIxo7" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td> </td><td> </td> <td style="text-align: left">Contributory asset charges rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--ReliefFromRoyaltyMethodMember__us-gaap--MeasurementInputTypeAxis__custom--ContributoryAssetChargesRateMember_z7dL3XHtftl8" title="Alternative Investment, Measurement Input">1.5</span></td><td style="text-align: left">%</td><td> </td> <td><span id="xdx_90F_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__custom--ReliefFromRoyaltyMethodMember__us-gaap--MeasurementInputTypeAxis__custom--ContributoryAssetChargesRateMember_zVBB3B8h32vd" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td> </td><td> </td> <td>Weighted average cost of capital</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--ReliefFromRoyaltyMethodMember__us-gaap--MeasurementInputTypeAxis__custom--WeightedAverageCostOfCapitalMember_z8aekkihujLd" title="Alternative Investment, Measurement Input">13.5</span></td><td style="text-align: left">%</td><td> </td> <td><span id="xdx_90E_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__custom--ReliefFromRoyaltyMethodMember__us-gaap--MeasurementInputTypeAxis__custom--WeightedAverageCostOfCapitalMember_zsISIbkhynKl" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td> </td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-size: 10pt">Technology (<i>Note 5</i>)</span></td><td> </td> <td style="text-align: left">Multi-period excess earnings method</td><td> </td> <td style="text-align: left">Long-term revenue growth rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--MultiPeriodExcessEarningsMethodMember__us-gaap--MeasurementInputTypeAxis__custom--LongTermRevenueGrowthRateMember_z54uff3HExNk" title="Alternative Investment, Measurement Input">5.8</span></td><td style="text-align: left">%</td><td> </td> <td><span id="xdx_903_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__custom--MultiPeriodExcessEarningsMethodMember__us-gaap--MeasurementInputTypeAxis__custom--LongTermRevenueGrowthRateMember_zLElspWhCEfe" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td> </td><td> </td> <td style="text-align: left">R&amp;D expense for new developed technology</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--MultiPeriodExcessEarningsMethodMember__us-gaap--MeasurementInputTypeAxis__custom--RAndDExpenseForNewDevelopedTechnologyMember_zbssStKEhUj8" title="Alternative Investment, Measurement Input">12.5</span></td><td style="text-align: left">%</td><td> </td> <td><span id="xdx_90D_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__custom--MultiPeriodExcessEarningsMethodMember__us-gaap--MeasurementInputTypeAxis__custom--RAndDExpenseForNewDevelopedTechnologyMember_zTfVDEqP1tCe" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td> </td><td> </td> <td style="text-align: left">Developed technology obsolescence rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--MultiPeriodExcessEarningsMethodMember__us-gaap--MeasurementInputTypeAxis__custom--DevelopedTechnologyObsolescenceRateMember_z1ZryUztBlZe" title="Alternative Investment, Measurement Input">30.0</span></td><td style="text-align: left">%</td><td> </td> <td><span id="xdx_90E_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__custom--MultiPeriodExcessEarningsMethodMember__us-gaap--MeasurementInputTypeAxis__custom--DevelopedTechnologyObsolescenceRateMember_zOmWT05m7cJd" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td> </td><td> </td> <td style="text-align: left">Contributory asset charges rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.1% - <span id="xdx_90D_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--MultiPeriodExcessEarningsMethodMember__us-gaap--MeasurementInputTypeAxis__custom--ContributoryAssetChargesRateMember__srt--RangeAxis__srt--MaximumMember_zmc7p2S5UeM8">2.2</span>%</td><td style="text-align: left"> </td><td> </td> <td><span id="xdx_906_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__custom--MultiPeriodExcessEarningsMethodMember__us-gaap--MeasurementInputTypeAxis__custom--ContributoryAssetChargesRateMember_zRRJhrRqvHz5" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td> </td><td> </td> <td>Weighted average cost of capital</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--MultiPeriodExcessEarningsMethodMember__us-gaap--MeasurementInputTypeAxis__custom--WeightedAverageCostOfCapitalMember_zALMDAxwTzCc" title="Alternative Investment, Measurement Input">13.5</span></td><td style="text-align: left">%</td><td> </td> <td><span id="xdx_908_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__custom--MultiPeriodExcessEarningsMethodMember__us-gaap--MeasurementInputTypeAxis__custom--WeightedAverageCostOfCapitalMember_zOSZkRHMmRri" title="Alternative Investment, Measurement Input">None</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td id="xdx_F0F_zucd2bALoGQ5" style="width: 15pt; text-align: right"><b>*</b></td><td id="xdx_F16_zhGr77T6AVDh" style="text-align: justify">Includes all of the valuation techniques for each of the fair valued assets above as of the acquisition date (<i>Note 5</i>)</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Goodwill</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The significant unobservable inputs used in our level 3 fair value measurement of goodwill as of our annual impairment assessment date of December 31, 2024, are as follows (<i>Notes 3 </i>and <i>11</i>):</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Area</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Valuation Techniques</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Unobservable Input</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 18%">Goodwill</td><td style="width: 2%"> </td> <td style="width: 20%; text-align: left">Discounted cash flow</td><td style="width: 2%"> </td> <td style="width: 26%; text-align: left">Long-term revenue growth rate</td><td style="width: 2%"> </td> <td style="width: 16%; text-align: left"><span id="xdx_902_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--MeasurementInputTypeAxis__custom--LongTermRevenueGrowthRateMember_z37xMhKR7tTf" title="Alternative Investment, Measurement Input">5.8</span>%</td><td style="width: 2%"> </td> <td style="width: 12%"><span id="xdx_90E_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--MeasurementInputTypeAxis__custom--LongTermRevenueGrowthRateMember_zpz1s1LxRARf" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td> </td><td> </td> <td style="text-align: left">Cost of sales as a percentage of revenue</td><td> </td> <td style="text-align: left"><span id="xdx_904_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--MeasurementInputTypeAxis__custom--CostOfSalesAsAPercentageOfRevenueMember_zL1CPgbZzJya" title="Alternative Investment, Measurement Input">13.9</span>%</td><td> </td> <td><span id="xdx_90E_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--MeasurementInputTypeAxis__custom--CostOfSalesAsAPercentageOfRevenueMember_zWP2iC7m13Uc" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td> </td><td> </td> <td style="text-align: left">Gross profit margin</td><td> </td> <td style="text-align: left"><span id="xdx_903_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--MeasurementInputTypeAxis__custom--GrossProfitMarginMember_zRraaR9bK1na" title="Alternative Investment, Measurement Input">86.1</span>%</td><td> </td> <td><span id="xdx_90E_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--MeasurementInputTypeAxis__custom--GrossProfitMarginMember_zQUBnhQaJIyd" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td> </td><td> </td> <td style="text-align: left">Operating expenses as a percentage of revenue</td><td> </td> <td style="text-align: left"><span id="xdx_908_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--MeasurementInputTypeAxis__custom--OperatingExpensesAsAPercentageOfRevenueMember__srt--RangeAxis__srt--MinimumMember_z525GhkAqyY5" title="Alternative Investment, Measurement Input">49.5</span>% - <span id="xdx_908_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--MeasurementInputTypeAxis__custom--OperatingExpensesAsAPercentageOfRevenueMember__srt--RangeAxis__srt--MaximumMember_zbDGJoF2ZDaa" title="Alternative Investment, Measurement Input">74.5</span>%</td><td> </td> <td><span id="xdx_90D_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--MeasurementInputTypeAxis__custom--OperatingExpensesAsAPercentageOfRevenueMember_zrybMFt26LIh" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td> </td><td> </td> <td style="text-align: left">EBITDA margin</td><td> </td> <td style="text-align: left"><span id="xdx_905_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--MeasurementInputTypeAxis__custom--EBITDAMarginMember__srt--RangeAxis__srt--MinimumMember_zf63T54DrBO1" title="Alternative Investment, Measurement Input">11.6</span>% - <span id="xdx_904_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--MeasurementInputTypeAxis__custom--EBITDAMarginMember__srt--RangeAxis__srt--MaximumMember_zIdX5mmpwvHf" title="Alternative Investment, Measurement Input">36.6</span>%</td><td> </td> <td><span id="xdx_90F_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--MeasurementInputTypeAxis__custom--EBITDAMarginMember_zi2LcbYLdFcj" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td> </td><td> </td> <td style="text-align: left">EBITDA growth rate</td><td> </td> <td style="text-align: left"><span id="xdx_904_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--MeasurementInputTypeAxis__custom--EBITDAGrowthRateMember__srt--RangeAxis__srt--MinimumMember_zABGwsjLqwpb" title="Alternative Investment, Measurement Input">3.0</span>% - <span id="xdx_90C_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--MeasurementInputTypeAxis__custom--EBITDAGrowthRateMember__srt--RangeAxis__srt--MaximumMember_zveJ0RBDM4y" title="Alternative Investment, Measurement Input">45.9</span>%</td><td> </td> <td><span id="xdx_908_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--MeasurementInputTypeAxis__custom--EBITDAGrowthRateMember_z8gwxKfaK59j" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td> </td><td> </td> <td>Weighted average cost of capital</td><td> </td> <td style="text-align: left"><span id="xdx_90E_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--MeasurementInputTypeAxis__custom--WeightedAverageCostOfCapitalMember_zmTH7G5WfbO6" title="Alternative Investment, Measurement Input">13.5</span>%</td><td> </td> <td><span id="xdx_905_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--MeasurementInputTypeAxis__custom--WeightedAverageCostOfCapitalMember_zCmL8xB7H3U8" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td> </td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left">Market - Guideline public company</td><td> </td> <td style="text-align: left">Revenue multiples</td><td> </td> <td style="text-align: left"><span id="xdx_904_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--MarketGuidelinePublicCompanyMember__us-gaap--MeasurementInputTypeAxis__custom--RevenueMultiplesMember__srt--RangeAxis__srt--MinimumMember_zPKDy07CNx37" title="Alternative Investment, Measurement Input">2.9</span>x - <span id="xdx_908_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--MarketGuidelinePublicCompanyMember__us-gaap--MeasurementInputTypeAxis__custom--RevenueMultiplesMember__srt--RangeAxis__srt--MaximumMember_zCGr278cyBm2" title="Alternative Investment, Measurement Input">3.10</span>x</td><td> </td> <td><span id="xdx_90D_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__custom--MarketGuidelinePublicCompanyMember__us-gaap--MeasurementInputTypeAxis__custom--RevenueMultiplesMember_z5AQXKWpqHi6" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td> </td><td> </td> <td>Weighting</td><td> </td> <td style="text-align: left"><span id="xdx_904_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--MarketGuidelinePublicCompanyMember__us-gaap--MeasurementInputTypeAxis__custom--WeightingMember__srt--RangeAxis__srt--MinimumMember_zUljzcx8V2M2" title="Alternative Investment, Measurement Input">25.0</span>% - <span id="xdx_90D_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--MarketGuidelinePublicCompanyMember__us-gaap--MeasurementInputTypeAxis__custom--WeightingMember__srt--RangeAxis__srt--MaximumMember_z1O1UNpBC8Q9" title="Alternative Investment, Measurement Input">50.0</span>%</td><td> </td> <td><span id="xdx_908_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__custom--MarketGuidelinePublicCompanyMember__us-gaap--MeasurementInputTypeAxis__custom--WeightingMember_zIFLShxe0nPl" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td> </td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left">Market - Guideline transaction</td><td> </td> <td style="text-align: left">Revenue multiple</td><td> </td> <td style="text-align: left"><span id="xdx_908_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--MarketGuidelineTransactionMember__us-gaap--MeasurementInputTypeAxis__custom--RevenueMultiplesMember_zzrOUUSdj91g" title="Alternative Investment, Measurement Input">3.25</span>x</td><td> </td> <td><span id="xdx_903_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__custom--MarketGuidelineTransactionMember__us-gaap--MeasurementInputTypeAxis__custom--RevenueMultiplesMember_zpEkJLELvsn" title="Alternative Investment, Measurement Input">None</span></td></tr> </table> <p id="xdx_8A5_zJvNcJh4tB75" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_899_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_zj7FKwnvdPGh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table presents information about the Company’s financial instruments that are measured at fair value on a recurring basis at December 31, 2024 and December 31, 2023, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="display: none"><span id="xdx_8B6_zqa1gEWJZYfg">Schedule of Fair Value on Recurring Basis</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Description</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zARq0eYHUd8g" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zt9J3oAVoGig" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Assets:</td><td> </td> <td style="text-align: right"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeAsset_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zrS8825eLkG7" style="vertical-align: bottom; background-color: White"> <td style="width: 52%; text-align: left">Bifurcated embedded derivative asset - related party</td><td style="width: 2%"> </td> <td style="width: 14%; text-align: center">3</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">63,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl5118">—</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_ecustom--DefiniteLivedIntangiblesAtAcquisitionDate_iI_zILmbwMWaGtd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Definite-lived intangibles<span id="xdx_F46_zW2mdnJEFmP2">*</span></td><td> </td> <td style="text-align: center">3</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,903,320</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl5121">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--DefiniteLivedIntangiblesMeasuredAtImpairmentTesting_iI_zdm6JLSyBFH8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Definite-lived intangibles<span id="xdx_F44_zEmbJpCgmwA5">**</span></td><td> </td> <td style="text-align: center">3</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,883,853</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl5124">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--Goodwill_iI_hus-gaap--StatementBusinessSegmentsAxis__custom--OpenReelMember_zT66taRS0HVa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-size: 10pt">Goodwill - OpenReel (<i>Note 5</i>)<span id="xdx_F4D_zmUTPFhp3Ehf">*</span></span></td><td> </td> <td style="text-align: center">3</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">19,526,409</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl5127">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--Goodwill_iI_zyJA0wyD577g" style="vertical-align: bottom; background-color: White"> <td>Goodwill<span id="xdx_F4B_zhBOJkKxhJab">**</span></td><td> </td> <td style="text-align: center">3</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">18,972,475</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,171,526</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Liabilities:</td><td> </td> <td style="text-align: right"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Warrant liabilities - public</td><td> </td> <td style="text-align: center">1</td><td> </td> <td style="text-align: left">$</td><td id="xdx_982_ecustom--WarrantLiabilitiesPublic_iI_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zJonD1TVuPP7" style="text-align: right" title="Warrant liabilities - public">2,300</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_ecustom--WarrantLiabilitiesPublic_iI_c20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zAu3ZIpt79wd" style="text-align: right" title="Warrant liabilities - public">575,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--GEMWarrantLiabilities_iI_zDbXFInPh307" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">GEM warrant liabilities</td><td> </td> <td style="text-align: center">3</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">15,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">641,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--ConvertibleDebt_iI_zFW08H06XFYf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Yorkville convertible note</td><td> </td> <td style="text-align: center">3</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl5139">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,766,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--NotesPayable_iI_zogEaXHe1dXk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Agile term notes</td><td> </td> <td style="text-align: center">3</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,143,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl5143">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--ConvertibleNotesPayable_iI_zmYNfLcCO5y2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">1800 Diagonal convertible notes</td><td> </td> <td style="text-align: center">3</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">432,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl5146">—</span></td><td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td id="xdx_F04_zxct8s7hkNub" style="width: 15pt; text-align: right">*</td><td id="xdx_F17_zNAAzQSCel57" style="text-align: justify">Certain assets measured at the acquisition date</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td id="xdx_F0F_zHd888Pr9lX2" style="width: 15pt; text-align: right">**</td><td id="xdx_F1C_zYtIzjF6Znca" style="text-align: justify">Measured at year-end impairment testing</td> </tr></table> 63000 3903320 3883853 19526409 18972475 2171526 2300 575000 15000 641000 1766000 3143000 432000 23000 23000 572700 <p id="xdx_893_ecustom--SummaryOfChangesInTheFairValueOfTheWarrantsLiabilityTableTextBlock_hus-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsLiabilityMember_zhKgbTlItIcf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following tables set forth a summary of the changes in the fair value of the Public Warrants liability which are Level 1 financial liabilities that are measured at fair value on a recurring basis:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BF_zcPkHNQA4VH8">Summary of Changes in the Fair Value of the Warrants Liability</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20240101__20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsLiabilityMember_zd8sXwuJ5iMi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40B_ecustom--PublicWarrantsLiability_iS_zKumgqf2ysb3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 84%">Balance at December 31, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">575,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--ChangeInFairValueOfPublicWarrantsLiability_zOV4z6FdLan2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(572,700</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40E_ecustom--PublicWarrantsLiability_iE_zuzk8rsHiBm4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Balance at December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,300</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 575000 -572700 2300 626000 <p id="xdx_898_ecustom--SummaryOfChangesInTheFairValueOfTheWarrantsLiabilityTableTextBlock_hus-gaap--ClassOfWarrantOrRightAxis__custom--GemWarrantsLiabilityMember_zHCx1BmT8Gzd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following tables set forth a summary of the changes in the fair value of the GEM Warrants liability which are Level 3 financial liabilities that are measured at fair value on a recurring basis:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B1_zRbxRoSz4Ntk">Summary of Changes in the Fair Value of the Warrants Liability</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--GemWarrantsLiabilityMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zTsbx9AtBBG7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_ecustom--GemWarrantsLiability_iS_zZNBff2br446" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 84%">Balance at December 31, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">641,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_ecustom--GemWarrantsLiability_iS_zC206zcZXxzf" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Change in fair value, Beginning balance</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">641,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--ChangeInFairValueOfGemWarrantsLiability_iN_di_z6C9uzunBFZg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(626,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40C_ecustom--GemWarrantsLiability_iE_zSXR0p56Vfg7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Balance at December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">15,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_405_ecustom--GemWarrantsLiability_iE_zIQFCEbXg6v6" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Change in fair value, Ending balance</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">15,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 641000 641000 626000 15000 15000 693000 <p id="xdx_890_ecustom--SummaryOfChangesInFairValueOfConvertibleNoteTableTextBlock_z1C0FIcgWtVg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following tables set forth a summary of the changes in the fair value of the Yorkville convertible notes which is a Level 3 financial liability measured at fair value on a recurring basis:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BD_zvFm9mWylANd">Summary of Changes In Fair Value Of Yorkville Convertible Note</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20240101__20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zAiB28w9VQ0k" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_400_eus-gaap--ConvertibleDebt_iS_zzGPwTy5ruj9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 84%">Balance at December 31, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1,766,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--IssuanceOfYorkvilleConvertibleNote_zaxKEH5MIrs9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Issuance of Yorkville convertible note</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,250,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--GainsLossesOnDebtIssuance_z30aDJuF78r4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loss on debt issuance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">171,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--PaymentInSharesToSettleYorkvilleConvertibleNotes_zNP0vuTmDWq8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Payment in shares to settle Yorkville convertible notes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,130,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--RepaymentsOfConvertibleDebt_iN_di_z2heppZhstV3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Repayment in cash of Yorkville convertible notes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(750,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_40B_ecustom--ChangeInFairValueOfYorkvilleConvertibleNote_zyXU6lJiKWu1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">693,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--ConvertibleDebt_iE_zOMcR7goSdAl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Balance at December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl5194">—</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 1766000 2250000 171000 -4130000 750000 693000 <p id="xdx_89B_eus-gaap--ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock_z3gx10BHxCpl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table sets forth a summary of the changes in the fair value of the bifurcated embedded derivative liabilities for the year ended December 31, 2023, related to the Related Party and Third Party Convertible Debt, respectively, which are Level 3 financial liabilities that are measured at fair value on a recurring basis:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B4_zWwfHDrfEhF8">Schedule of Derivative Liabilities</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center"> </td><td style="display: none; font-style: italic; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zUEYRJ8eYS92" style="border-bottom: Black 1pt solid; display: none; font-style: italic; text-align: center">Related Party</td><td style="display: none; padding-bottom: 1pt; font-style: italic"> </td><td style="display: none; font-style: italic; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ThirdPartyConvertibleDebtMember_zJJmQCWsYdW8" style="border-bottom: Black 1pt solid; display: none; font-style: italic; text-align: center">Third Party</td><td style="display: none; padding-bottom: 1pt; font-style: italic"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-style: italic; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-style: italic; text-align: center">Related Party</td><td style="padding-bottom: 1pt; font-style: italic"> </td><td style="font-style: italic; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-style: italic; text-align: center">Third Party</td><td style="padding-bottom: 1pt; font-style: italic"> </td></tr> <tr id="xdx_409_eus-gaap--DerivativeAssetsLiabilitiesAtFairValueNet_iS_z01WOoQwzicg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 68%">Balance at December 31, 2022</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1,936,827</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">845,473</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--IssuanceOfConvertibleNotes_zPLmHkZVhyS4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Issuance of convertible notes with bifurcated embedded derivative</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,126,451</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">559,390</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet_iN_di_zrqx27jwWxTd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,063,278</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,404,863</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--DerivativeAssetsLiabilitiesAtFairValueNet_iE_zDhjQmm2FeC6" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Balance at December 31, 2023</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl5207">—</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl5208">—</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 1936827 845473 1126451 559390 3063278 1404863 63000 <p id="xdx_892_eus-gaap--ScheduleOfDerivativeAssetsAtFairValueTableTextBlock_zgTfbH2Wytt8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table sets forth a summary of the changes in the fair value of the bifurcated embedded derivative asset for the year ended December 31, 2024, relating to the Convertible Note to CP BF issued on September 23, 2024, which are Level 3 financial liabilities that are measured at fair value on a recurring basis:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BA_zlD1Ua2tbvpb">Schedule of Derivate Assets</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20240101__20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--DebtInstrumentAxis__custom--CpBfConvertibleNotesMember_zGq455uZFy2b" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-style: italic; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-style: italic; text-align: center">CP BF Convertible</td><td style="padding-bottom: 1pt; font-style: italic"> </td></tr> <tr id="xdx_403_ecustom--IssuanceOfConvertibleNotes_zuhoxtJdae8h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 84%; text-align: left">Issuance of convertible notes with bifurcated embedded derivative asset</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">12,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet_iN_di_znai12Qgvm0i" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">51,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--DerivativeAssetsLiabilitiesAtFairValueNet_iE_zmzt0cLTl4J6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Balance at December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">63,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--DerivativeAssetsLiabilitiesAtFairValueNet_iE_ziBfdZJKabnk" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Balance</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">63,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 12000 -51000 63000 63000 0.15 3836000 0 0 <p id="xdx_89F_eus-gaap--FairValueConcentrationOfRiskTextBlock_z4dN6oXgjuz" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following tables set forth a summary of the activity of the Related Party and Third Party SAFE liabilities, respectively (See <i>Note 16 - Simple Agreements for Future Equity</i> for further detail), which represents a recurring fair value measurement at the end of the relevant reporting period:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BA_zB8b9rBYHQLh">Schedule of Fair Value Measurements</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center"> </td><td style="display: none; font-style: italic; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zdYUeIazByg3" style="border-bottom: Black 1pt solid; display: none; font-style: italic; text-align: center">Related Party</td><td style="display: none; padding-bottom: 1pt; font-style: italic"> </td><td style="display: none; font-style: italic; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ThirdPartySafeLiabilitiesMember_zrtYsb8gWg1b" style="border-bottom: Black 1pt solid; display: none; font-style: italic; text-align: center">Third Party</td><td style="display: none; padding-bottom: 1pt; font-style: italic"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-style: italic; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-style: italic; text-align: center">Related Party</td><td style="padding-bottom: 1pt; font-style: italic"> </td><td style="font-style: italic; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-style: italic; text-align: center">Third Party</td><td style="padding-bottom: 1pt; font-style: italic"> </td></tr> <tr id="xdx_401_ecustom--SimpleAgreementForFutureEquityCurrent_iS_zDyYNrcFYyM2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 68%">Balance at December 31, 2022</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">8,802,196</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">663,804</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--ChangeInFairValueOfSimpleAgreementForFutureEquity_z8jmZn5x0xo4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Change in fair value</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,752,430</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(207,570</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_ecustom--ConversionOfSimpleAgreementForFutureEquity_iN_di_ztzDHJMUttA8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Conversion on SAFEs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(6,049,766</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(456,234</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_408_ecustom--SimpleAgreementForFutureEquityCurrent_iE_zHrMT2Qcic0e" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Balance at December 31, 2023</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl5241">—</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl5242">—</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 8802196 663804 -2752430 -207570 6049766 456234 <p id="xdx_894_eus-gaap--FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_zRqWKvHWvC6c" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The range of key inputs at issuance of the Agile term notes and for the period ended December 31, 2024, were as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B1_zPdlpz6cEMb8" style="display: none">Schedule of Range of key Inputs at Issuance</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">July Agile Note</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September Agile Note</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December Agile Note</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Key Inputs</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">July 22, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 12, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 13, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 12, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 12, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%; text-align: left">Contractual term (years)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><span id="xdx_90E_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_c20240722__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--FinancialInstrumentAxis__custom--JulyAgileNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zIop0wqfwmX4" title="Debt instrument, measurement input">0.55</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><span id="xdx_906_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_c20241212__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--FinancialInstrumentAxis__custom--JulyAgileNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zof56ted4dd2" title="Debt instrument, measurement input"><span style="-sec-ix-hidden: xdx2ixbrl5248">-</span></span></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><span id="xdx_90D_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_c20240913__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--FinancialInstrumentAxis__custom--SeptemberAgileNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_z4nT0LIpR0Ih" title="Debt instrument, measurement input">0.48</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><span id="xdx_905_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_c20241212__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--FinancialInstrumentAxis__custom--SeptemberAgileNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_znvVJ4qfjrc6" title="Debt instrument, measurement input">0.43</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><span id="xdx_900_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_c20241212__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--FinancialInstrumentAxis__custom--DecemberAgileNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_z3FGsapjxojd" title="Debt instrument, measurement input">0.61</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><span id="xdx_90A_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--FinancialInstrumentAxis__custom--DecemberAgileNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zrYwGDk4uy53" title="Debt instrument, measurement input">0.56</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Interest rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_c20240722__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--FinancialInstrumentAxis__custom--JulyAgileNoteMember__us-gaap--MeasurementInputTypeAxis__custom--MeasurementInputInterestRateMember_z3tEODJrJyl5" title="Debt instrument, measurement input">18.92</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_c20241212__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--FinancialInstrumentAxis__custom--JulyAgileNoteMember__us-gaap--MeasurementInputTypeAxis__custom--MeasurementInputInterestRateMember_zMCCuS6z5lu9" title="Debt instrument, measurement input">9.30</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_c20240913__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--FinancialInstrumentAxis__custom--SeptemberAgileNoteMember__us-gaap--MeasurementInputTypeAxis__custom--MeasurementInputInterestRateMember_zCOvPovCufr3" title="Debt instrument, measurement input">14.37</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_c20241212__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--FinancialInstrumentAxis__custom--SeptemberAgileNoteMember__us-gaap--MeasurementInputTypeAxis__custom--MeasurementInputInterestRateMember_zPEPwkW7EWv2" title="Debt instrument, measurement input">9.33</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_c20241212__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--FinancialInstrumentAxis__custom--DecemberAgileNoteMember__us-gaap--MeasurementInputTypeAxis__custom--MeasurementInputInterestRateMember_z6zaqaOqbDBc" title="Debt instrument, measurement input">9.48</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--FinancialInstrumentAxis__custom--DecemberAgileNoteMember__us-gaap--MeasurementInputTypeAxis__custom--MeasurementInputInterestRateMember_zeBKtIXKnuc" title="Debt instrument, measurement input">10.13</span></td><td style="text-align: left">%</td></tr> </table> 0.55 0.48 0.43 0.61 0.56 18.92 9.30 14.37 9.33 9.48 10.13 <p id="xdx_890_eus-gaap--FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_hus-gaap--FinancialInstrumentAxis__custom--DiagonalConvertibleNotesMember_zQVXBJ1U2gR6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The range of key inputs for the Black-Scholes simulations at issuance of the 1800 Diagonal convertible notes and for the year ended December 31, 2024, were as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B1_zDDflcev1KFd" style="display: none">Schedule of Range of key Inputs at Issuance</span></span>  </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; display: none; font-weight: bold">Key Inputs</td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20240816__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueOptionPricingModelMember__us-gaap--FinancialInstrumentAxis__custom--August1800DiagonalNoteMember_z2e6AwlyZl93" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">August 16, 2024</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20241231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueOptionPricingModelMember__us-gaap--FinancialInstrumentAxis__custom--August1800DiagonalNoteMember_z4o6g4RPh41l" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">December 31, 2024</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20240924__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueOptionPricingModelMember__us-gaap--FinancialInstrumentAxis__custom--September1800DiagonalNoteMember_z3fSX0Guhgk6" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">September 24, 2024</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20241231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueOptionPricingModelMember__us-gaap--FinancialInstrumentAxis__custom--September1800DiagonalNoteMember_zsqU0LvCdRY3" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">December 31, 2024</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20241210__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueOptionPricingModelMember__us-gaap--FinancialInstrumentAxis__custom--December1800DiagonalNoteMember_zC2WMWOEcU6f" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">December 10, 2024</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20241231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueOptionPricingModelMember__us-gaap--FinancialInstrumentAxis__custom--December1800DiagonalNoteMember_z4LZZJ1FWRy9" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">December 31, 2024</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">August 1800 Diagonal Note</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 1800 Diagonal Note</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 1800 Diagonal Note</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Key Inputs</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">August 16, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 24, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 10, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember_ztvo5pGsAIRl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%">Stock price</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">55.80</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">15.30</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">82.40</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">15.30</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">20.50</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">15.30</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zjI5JfsFgn6l" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Contractual term (years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.84</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.46</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.86</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.59</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.86</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.80</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zYN9SfmKLnKh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Risk-free rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.00</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.25</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.34</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.23</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.29</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.19</td><td style="text-align: left">%</td></tr> <tr id="xdx_405_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zzySUZ4NwL78" style="vertical-align: bottom; background-color: White"> <td>Volatility<span id="xdx_F4A_zGB8EV7yfUnc">(1)</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">114</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">191</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">192</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">264</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">222</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">232</td><td style="text-align: left">%</td></tr> <tr id="xdx_409_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_hus-gaap--MeasurementInputTypeAxis__custom--MeasurementInputMaturityProbabilityMember_ztMr5Y7Af1Ei" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Maturity probability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">80</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">80</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">80</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">80</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">75</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">75</td><td style="text-align: left">%</td></tr> <tr id="xdx_403_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_hus-gaap--MeasurementInputTypeAxis__custom--MeasurementInputDefaultProbabilityMember_zON0pzGxAdsc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Default probability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">25</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">25</td><td style="text-align: left">%</td></tr> <tr id="xdx_401_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zmjS1DgUt2h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Dividend yield</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.00</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.00</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.00</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.00</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.00</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.00</td><td style="text-align: left">%</td></tr> <tr id="xdx_40B_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zphpB60kOCig" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="display: none; text-align: left">Debt Instrument, Measurement Input</td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td style="display: none; text-align: right">0.00</td><td style="display: none; text-align: left">%</td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td style="display: none; text-align: right">0.00</td><td style="display: none; text-align: left">%</td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td style="display: none; text-align: right">0.00</td><td style="display: none; text-align: left">%</td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td style="display: none; text-align: right">0.00</td><td style="display: none; text-align: left">%</td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td style="display: none; text-align: right">0.00</td><td style="display: none; text-align: left">%</td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td style="display: none; text-align: right">0.00</td><td style="display: none; text-align: left">%</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><sup id="xdx_F0E_zNLxGNUTgDXg">(1)</sup></td><td id="xdx_F10_zQS7Vxj1Lczd" style="text-align: justify">The Company utilized historical equity volatility in measurement of the fair value of the notes.</td> </tr></table> 55.80 15.30 82.40 15.30 20.50 15.30 0.84 0.46 0.86 0.59 0.86 0.80 5.00 4.25 4.34 4.23 4.29 4.19 114 191 192 264 222 232 80 80 80 80 75 75 20 20 20 20 25 25 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 <p id="xdx_892_ecustom--ScheduleOfSignificantUnobservableInputsUsedInOurLevel3FairValueMeasurementTableTextBlock_zvWRPXj4tGFg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The significant unobservable inputs used in our level 3 fair value measurement of business combinations, including definite-lived intangibles at the acquisition date (<i>Note</i> and <i>5</i>) are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8BC_z4Glmqx5vS64" style="display: none">Schedule of Significant Unobservable Inputs Used in Fair Value Measurement</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Area</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Valuation Techniques</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Unobservable Input</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%; text-align: left"><span style="font-size: 10pt">Business Combination (<i>Note 5</i>)</span></td><td style="width: 2%"> </td> <td style="width: 14%">Various *</td><td style="width: 2%"> </td> <td style="width: 22%; text-align: left">Growth rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_907_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--VariousMember__us-gaap--MeasurementInputTypeAxis__custom--GrowthRateMember_fKg_____zNHbI1KwXXh4" title="Alternative Investment, Measurement Input">5.8</span></td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 14%"> <span id="xdx_90D_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__custom--VariousMember__us-gaap--MeasurementInputTypeAxis__custom--GrowthRateMember_fKg_____ztdCD5y55D5e" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td> </td><td> </td> <td>Weighted average cost of capital</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--VariousMember__us-gaap--MeasurementInputTypeAxis__custom--WeightedAverageCostOfCapitalMember_fKg_____zXd98hQMEIuf" title="Alternative Investment, Measurement Input">13.5</span></td><td style="text-align: left">%</td><td> </td> <td> <span id="xdx_900_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__custom--VariousMember__us-gaap--MeasurementInputTypeAxis__custom--WeightedAverageCostOfCapitalMember_fKg_____zg1CzkaSFx4k" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td> </td><td> </td> <td style="text-align: left">Internal rate of return</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--VariousMember__us-gaap--MeasurementInputTypeAxis__custom--InternalRateOfReturnMember_fKg_____zHUAtsMnvQG" title="Alternative Investment, Measurement Input">11.3</span></td><td style="text-align: left">%</td><td> </td> <td> <span id="xdx_90A_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__custom--VariousMember__us-gaap--MeasurementInputTypeAxis__custom--InternalRateOfReturnMember_fKg_____zjcpAY10J5c6" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td> </td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-size: 10pt">Customer Relationship (<i>Note 5</i>)</span></td><td> </td> <td style="text-align: left"> Distributor method</td><td> </td> <td style="text-align: left">Long-term revenue growth rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--DistributorMethodMember__us-gaap--MeasurementInputTypeAxis__custom--LongTermRevenueGrowthRateMember_zjMpUd9MsJ9a" title="Alternative Investment, Measurement Input">5.8</span></td><td style="text-align: left">%</td><td> </td> <td> <span id="xdx_906_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__custom--DistributorMethodMember__us-gaap--MeasurementInputTypeAxis__custom--LongTermRevenueGrowthRateMember_zmjguZd35LD5" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td> </td><td> </td> <td style="text-align: left">Revenue growth attributable to exiting customers</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--DistributorMethodMember__us-gaap--MeasurementInputTypeAxis__custom--RevenueGrowthAttributableToExistingCustomersMember_z8Sb1tcZtCi6" title="Alternative Investment, Measurement Input">50.0</span></td><td style="text-align: left">%</td><td> </td> <td> <span id="xdx_909_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__custom--DistributorMethodMember__us-gaap--MeasurementInputTypeAxis__custom--RevenueGrowthAttributableToExistingCustomersMember_z22ZTodN7EEa" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td> </td><td> </td> <td style="text-align: left">Existing customer attrition</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--DistributorMethodMember__us-gaap--MeasurementInputTypeAxis__custom--ExistingCustomerAttritionMember_z36h74Skb6Qg" title="Alternative Investment, Measurement Input">20.0</span></td><td style="text-align: left">%</td><td> </td> <td> <span id="xdx_902_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__custom--DistributorMethodMember__us-gaap--MeasurementInputTypeAxis__custom--ExistingCustomerAttritionMember_zHhmpi4reBgi" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td> </td><td> </td> <td style="text-align: left">Distributor EBITA margin</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--DistributorMethodMember__us-gaap--MeasurementInputTypeAxis__custom--DistributorEBITAMarginMember_zwNQmN0hkN59" title="Alternative Investment, Measurement Input">7.5</span></td><td style="text-align: left">%</td><td> </td> <td> <span id="xdx_90E_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__custom--DistributorMethodMember__us-gaap--MeasurementInputTypeAxis__custom--DistributorEBITAMarginMember_zjCL7eeH31Da" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td> </td><td> </td> <td style="text-align: left">Contributory asset charges rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--DistributorMethodMember__us-gaap--MeasurementInputTypeAxis__custom--ContributoryAssetChargesRateMember__srt--RangeAxis__srt--MinimumMember_znY8r6VjLdKf" title="Alternative Investment, Measurement Input">0.9</span>% - <span id="xdx_906_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--DistributorMethodMember__us-gaap--MeasurementInputTypeAxis__custom--ContributoryAssetChargesRateMember__srt--RangeAxis__srt--MaximumMember_zbwfPZ2xpoKj" title="Alternative Investment, Measurement Input">1.4</span></td><td style="text-align: left">%</td><td> </td> <td><span id="xdx_90F_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__custom--DistributorMethodMember__us-gaap--MeasurementInputTypeAxis__custom--ContributoryAssetChargesRateMember_zCUtTrx5Kae7" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td> </td><td> </td> <td>Weighted average cost of capital</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--DistributorMethodMember__us-gaap--MeasurementInputTypeAxis__custom--WeightedAverageCostOfCapitalMember_zIb5mmuRcXM" title="Alternative Investment, Measurement Input">13.5</span></td><td style="text-align: left">%</td><td> </td> <td> <span id="xdx_909_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__custom--DistributorMethodMember__us-gaap--MeasurementInputTypeAxis__custom--WeightedAverageCostOfCapitalMember_zeAwRPsPyz42" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td> </td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-size: 10pt">Trade name (<i>Note 5</i>)</span></td><td> </td> <td style="text-align: left">Relief-from-royalty method</td><td> </td> <td style="text-align: left">Long-term revenue growth rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--ReliefFromRoyaltyMethodMember__us-gaap--MeasurementInputTypeAxis__custom--LongTermRevenueGrowthRateMember_zF622jk7WEN3" title="Alternative Investment, Measurement Input">5.8</span></td><td style="text-align: left">%</td><td> </td> <td><span id="xdx_90A_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__custom--ReliefFromRoyaltyMethodMember__us-gaap--MeasurementInputTypeAxis__custom--LongTermRevenueGrowthRateMember_zab3Q6TgnRo9" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td> </td><td> </td> <td style="text-align: left">Royalty rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--ReliefFromRoyaltyMethodMember__us-gaap--MeasurementInputTypeAxis__custom--RoyaltyRateMember_zGTcytmjRKYc" title="Alternative Investment, Measurement Input">2.0</span></td><td style="text-align: left">%</td><td> </td> <td><span id="xdx_903_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__custom--ReliefFromRoyaltyMethodMember__us-gaap--MeasurementInputTypeAxis__custom--RoyaltyRateMember_zL61ZdghIxo7" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td> </td><td> </td> <td style="text-align: left">Contributory asset charges rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--ReliefFromRoyaltyMethodMember__us-gaap--MeasurementInputTypeAxis__custom--ContributoryAssetChargesRateMember_z7dL3XHtftl8" title="Alternative Investment, Measurement Input">1.5</span></td><td style="text-align: left">%</td><td> </td> <td><span id="xdx_90F_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__custom--ReliefFromRoyaltyMethodMember__us-gaap--MeasurementInputTypeAxis__custom--ContributoryAssetChargesRateMember_zVBB3B8h32vd" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td> </td><td> </td> <td>Weighted average cost of capital</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--ReliefFromRoyaltyMethodMember__us-gaap--MeasurementInputTypeAxis__custom--WeightedAverageCostOfCapitalMember_z8aekkihujLd" title="Alternative Investment, Measurement Input">13.5</span></td><td style="text-align: left">%</td><td> </td> <td><span id="xdx_90E_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__custom--ReliefFromRoyaltyMethodMember__us-gaap--MeasurementInputTypeAxis__custom--WeightedAverageCostOfCapitalMember_zsISIbkhynKl" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td> </td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-size: 10pt">Technology (<i>Note 5</i>)</span></td><td> </td> <td style="text-align: left">Multi-period excess earnings method</td><td> </td> <td style="text-align: left">Long-term revenue growth rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--MultiPeriodExcessEarningsMethodMember__us-gaap--MeasurementInputTypeAxis__custom--LongTermRevenueGrowthRateMember_z54uff3HExNk" title="Alternative Investment, Measurement Input">5.8</span></td><td style="text-align: left">%</td><td> </td> <td><span id="xdx_903_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__custom--MultiPeriodExcessEarningsMethodMember__us-gaap--MeasurementInputTypeAxis__custom--LongTermRevenueGrowthRateMember_zLElspWhCEfe" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td> </td><td> </td> <td style="text-align: left">R&amp;D expense for new developed technology</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--MultiPeriodExcessEarningsMethodMember__us-gaap--MeasurementInputTypeAxis__custom--RAndDExpenseForNewDevelopedTechnologyMember_zbssStKEhUj8" title="Alternative Investment, Measurement Input">12.5</span></td><td style="text-align: left">%</td><td> </td> <td><span id="xdx_90D_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__custom--MultiPeriodExcessEarningsMethodMember__us-gaap--MeasurementInputTypeAxis__custom--RAndDExpenseForNewDevelopedTechnologyMember_zTfVDEqP1tCe" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td> </td><td> </td> <td style="text-align: left">Developed technology obsolescence rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--MultiPeriodExcessEarningsMethodMember__us-gaap--MeasurementInputTypeAxis__custom--DevelopedTechnologyObsolescenceRateMember_z1ZryUztBlZe" title="Alternative Investment, Measurement Input">30.0</span></td><td style="text-align: left">%</td><td> </td> <td><span id="xdx_90E_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__custom--MultiPeriodExcessEarningsMethodMember__us-gaap--MeasurementInputTypeAxis__custom--DevelopedTechnologyObsolescenceRateMember_zOmWT05m7cJd" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td> </td><td> </td> <td style="text-align: left">Contributory asset charges rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.1% - <span id="xdx_90D_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--MultiPeriodExcessEarningsMethodMember__us-gaap--MeasurementInputTypeAxis__custom--ContributoryAssetChargesRateMember__srt--RangeAxis__srt--MaximumMember_zmc7p2S5UeM8">2.2</span>%</td><td style="text-align: left"> </td><td> </td> <td><span id="xdx_906_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__custom--MultiPeriodExcessEarningsMethodMember__us-gaap--MeasurementInputTypeAxis__custom--ContributoryAssetChargesRateMember_zRRJhrRqvHz5" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td> </td><td> </td> <td>Weighted average cost of capital</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--MultiPeriodExcessEarningsMethodMember__us-gaap--MeasurementInputTypeAxis__custom--WeightedAverageCostOfCapitalMember_zALMDAxwTzCc" title="Alternative Investment, Measurement Input">13.5</span></td><td style="text-align: left">%</td><td> </td> <td><span id="xdx_908_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__custom--MultiPeriodExcessEarningsMethodMember__us-gaap--MeasurementInputTypeAxis__custom--WeightedAverageCostOfCapitalMember_zOSZkRHMmRri" title="Alternative Investment, Measurement Input">None</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td id="xdx_F0F_zucd2bALoGQ5" style="width: 15pt; text-align: right"><b>*</b></td><td id="xdx_F16_zhGr77T6AVDh" style="text-align: justify">Includes all of the valuation techniques for each of the fair valued assets above as of the acquisition date (<i>Note 5</i>)</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Goodwill</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The significant unobservable inputs used in our level 3 fair value measurement of goodwill as of our annual impairment assessment date of December 31, 2024, are as follows (<i>Notes 3 </i>and <i>11</i>):</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Area</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Valuation Techniques</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Unobservable Input</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 18%">Goodwill</td><td style="width: 2%"> </td> <td style="width: 20%; text-align: left">Discounted cash flow</td><td style="width: 2%"> </td> <td style="width: 26%; text-align: left">Long-term revenue growth rate</td><td style="width: 2%"> </td> <td style="width: 16%; text-align: left"><span id="xdx_902_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--MeasurementInputTypeAxis__custom--LongTermRevenueGrowthRateMember_z37xMhKR7tTf" title="Alternative Investment, Measurement Input">5.8</span>%</td><td style="width: 2%"> </td> <td style="width: 12%"><span id="xdx_90E_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--MeasurementInputTypeAxis__custom--LongTermRevenueGrowthRateMember_zpz1s1LxRARf" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td> </td><td> </td> <td style="text-align: left">Cost of sales as a percentage of revenue</td><td> </td> <td style="text-align: left"><span id="xdx_904_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--MeasurementInputTypeAxis__custom--CostOfSalesAsAPercentageOfRevenueMember_zL1CPgbZzJya" title="Alternative Investment, Measurement Input">13.9</span>%</td><td> </td> <td><span id="xdx_90E_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--MeasurementInputTypeAxis__custom--CostOfSalesAsAPercentageOfRevenueMember_zWP2iC7m13Uc" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td> </td><td> </td> <td style="text-align: left">Gross profit margin</td><td> </td> <td style="text-align: left"><span id="xdx_903_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--MeasurementInputTypeAxis__custom--GrossProfitMarginMember_zRraaR9bK1na" title="Alternative Investment, Measurement Input">86.1</span>%</td><td> </td> <td><span id="xdx_90E_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--MeasurementInputTypeAxis__custom--GrossProfitMarginMember_zQUBnhQaJIyd" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td> </td><td> </td> <td style="text-align: left">Operating expenses as a percentage of revenue</td><td> </td> <td style="text-align: left"><span id="xdx_908_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--MeasurementInputTypeAxis__custom--OperatingExpensesAsAPercentageOfRevenueMember__srt--RangeAxis__srt--MinimumMember_z525GhkAqyY5" title="Alternative Investment, Measurement Input">49.5</span>% - <span id="xdx_908_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--MeasurementInputTypeAxis__custom--OperatingExpensesAsAPercentageOfRevenueMember__srt--RangeAxis__srt--MaximumMember_zbDGJoF2ZDaa" title="Alternative Investment, Measurement Input">74.5</span>%</td><td> </td> <td><span id="xdx_90D_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--MeasurementInputTypeAxis__custom--OperatingExpensesAsAPercentageOfRevenueMember_zrybMFt26LIh" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td> </td><td> </td> <td style="text-align: left">EBITDA margin</td><td> </td> <td style="text-align: left"><span id="xdx_905_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--MeasurementInputTypeAxis__custom--EBITDAMarginMember__srt--RangeAxis__srt--MinimumMember_zf63T54DrBO1" title="Alternative Investment, Measurement Input">11.6</span>% - <span id="xdx_904_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--MeasurementInputTypeAxis__custom--EBITDAMarginMember__srt--RangeAxis__srt--MaximumMember_zIdX5mmpwvHf" title="Alternative Investment, Measurement Input">36.6</span>%</td><td> </td> <td><span id="xdx_90F_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--MeasurementInputTypeAxis__custom--EBITDAMarginMember_zi2LcbYLdFcj" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td> </td><td> </td> <td style="text-align: left">EBITDA growth rate</td><td> </td> <td style="text-align: left"><span id="xdx_904_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--MeasurementInputTypeAxis__custom--EBITDAGrowthRateMember__srt--RangeAxis__srt--MinimumMember_zABGwsjLqwpb" title="Alternative Investment, Measurement Input">3.0</span>% - <span id="xdx_90C_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--MeasurementInputTypeAxis__custom--EBITDAGrowthRateMember__srt--RangeAxis__srt--MaximumMember_zveJ0RBDM4y" title="Alternative Investment, Measurement Input">45.9</span>%</td><td> </td> <td><span id="xdx_908_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--MeasurementInputTypeAxis__custom--EBITDAGrowthRateMember_z8gwxKfaK59j" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td> </td><td> </td> <td>Weighted average cost of capital</td><td> </td> <td style="text-align: left"><span id="xdx_90E_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--MeasurementInputTypeAxis__custom--WeightedAverageCostOfCapitalMember_zmTH7G5WfbO6" title="Alternative Investment, Measurement Input">13.5</span>%</td><td> </td> <td><span id="xdx_905_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__us-gaap--ValuationTechniqueDiscountedCashFlowMember__us-gaap--MeasurementInputTypeAxis__custom--WeightedAverageCostOfCapitalMember_zCmL8xB7H3U8" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td> </td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left">Market - Guideline public company</td><td> </td> <td style="text-align: left">Revenue multiples</td><td> </td> <td style="text-align: left"><span id="xdx_904_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--MarketGuidelinePublicCompanyMember__us-gaap--MeasurementInputTypeAxis__custom--RevenueMultiplesMember__srt--RangeAxis__srt--MinimumMember_zPKDy07CNx37" title="Alternative Investment, Measurement Input">2.9</span>x - <span id="xdx_908_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--MarketGuidelinePublicCompanyMember__us-gaap--MeasurementInputTypeAxis__custom--RevenueMultiplesMember__srt--RangeAxis__srt--MaximumMember_zCGr278cyBm2" title="Alternative Investment, Measurement Input">3.10</span>x</td><td> </td> <td><span id="xdx_90D_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__custom--MarketGuidelinePublicCompanyMember__us-gaap--MeasurementInputTypeAxis__custom--RevenueMultiplesMember_z5AQXKWpqHi6" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td> </td><td> </td> <td>Weighting</td><td> </td> <td style="text-align: left"><span id="xdx_904_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--MarketGuidelinePublicCompanyMember__us-gaap--MeasurementInputTypeAxis__custom--WeightingMember__srt--RangeAxis__srt--MinimumMember_zUljzcx8V2M2" title="Alternative Investment, Measurement Input">25.0</span>% - <span id="xdx_90D_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--MarketGuidelinePublicCompanyMember__us-gaap--MeasurementInputTypeAxis__custom--WeightingMember__srt--RangeAxis__srt--MaximumMember_z1O1UNpBC8Q9" title="Alternative Investment, Measurement Input">50.0</span>%</td><td> </td> <td><span id="xdx_908_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__custom--MarketGuidelinePublicCompanyMember__us-gaap--MeasurementInputTypeAxis__custom--WeightingMember_zIFLShxe0nPl" title="Alternative Investment, Measurement Input">None</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td> </td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left">Market - Guideline transaction</td><td> </td> <td style="text-align: left">Revenue multiple</td><td> </td> <td style="text-align: left"><span id="xdx_908_eus-gaap--AlternativeInvestmentMeasurementInput_iI_uPure_c20241231__us-gaap--ValuationTechniqueAxis__custom--MarketGuidelineTransactionMember__us-gaap--MeasurementInputTypeAxis__custom--RevenueMultiplesMember_zzrOUUSdj91g" title="Alternative Investment, Measurement Input">3.25</span>x</td><td> </td> <td><span id="xdx_903_eus-gaap--AlternativeInvestmentMeasurementInput_iI_dn_uPure_c20231231__us-gaap--ValuationTechniqueAxis__custom--MarketGuidelineTransactionMember__us-gaap--MeasurementInputTypeAxis__custom--RevenueMultiplesMember_zpEkJLELvsn" title="Alternative Investment, Measurement Input">None</span></td></tr> </table> 5.8 0 13.5 0 11.3 0 5.8 0 50.0 0 20.0 0 7.5 0 0.9 1.4 0 13.5 0 5.8 0 2.0 0 1.5 0 13.5 0 5.8 0 12.5 0 30.0 0 2.2 0 13.5 0 5.8 0 13.9 0 86.1 0 49.5 74.5 0 11.6 36.6 0 3.0 45.9 0 13.5 0 2.9 3.10 0 25.0 50.0 0 3.25 0 <p id="xdx_805_eus-gaap--PropertyPlantAndEquipmentDisclosureTextBlock_zZEHalObf0c3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>9. <span id="xdx_829_zOsnlShdbVm2">Property and Equipment</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_89A_eus-gaap--PropertyPlantAndEquipmentTextBlock_zuVJXbohvFKb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Property and equipment, net consisted of the following at the dates indicated:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span id="xdx_8B8_zs1nh0tvzRuj" style="display: none">Schedule of Property and Equipment, Net</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20241231_zuoVYl8xIXik" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20231231_zoWyfkSse2z7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_zrU8oPt5HMli" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 68%; text-align: left">Computers and equipment</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">34,474</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">30,867</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_z4oyY1bu3eY3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: accumulated depreciation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(30,935</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(26,223</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentNet_iTI_za36Ys1mgiG2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Property and equipment, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,539</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,644</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AF_zpxEPpXXr23f" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Depreciation expense for the year ended December 31, 2024 and 2023 was $<span id="xdx_90C_eus-gaap--Depreciation_c20240101__20241231_zX3dAPStLrSh" title="Depreciation expense">4,712</span> and $<span id="xdx_90C_eus-gaap--Depreciation_c20230101__20231231_zuZ4EPuxLud9" title="Depreciation expense">7,160</span> respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_89A_eus-gaap--PropertyPlantAndEquipmentTextBlock_zuVJXbohvFKb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Property and equipment, net consisted of the following at the dates indicated:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span id="xdx_8B8_zs1nh0tvzRuj" style="display: none">Schedule of Property and Equipment, Net</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20241231_zuoVYl8xIXik" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20231231_zoWyfkSse2z7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_zrU8oPt5HMli" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 68%; text-align: left">Computers and equipment</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">34,474</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">30,867</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_z4oyY1bu3eY3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: accumulated depreciation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(30,935</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(26,223</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentNet_iTI_za36Ys1mgiG2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Property and equipment, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,539</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,644</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 34474 30867 30935 26223 3539 4644 4712 7160 <p id="xdx_803_ecustom--PrepaidExpensesAndOtherCurrentAssetsTextBlock_zz8JGjkvvydi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>10. <span id="xdx_823_zmD18NUFAzD9">Prepaid Expenses and Other Current Assets</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_896_eus-gaap--DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock_ziViK2bMSrYc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Prepaid expenses and other current assets consisted of the following at the dates indicated:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B3_z8fGEH5nmDGi" style="display: none">Summary of Prepaid Expenses and Other Current Assets</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20241231__us-gaap--AwardTypeAxis__custom--ReverseStockSplitMember_zXogHkKRYpIb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20231231_z4zKLyL9p6ll" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Prepaid expenses and other current assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--PrepaidCommissions_iI_maPEAOAzwvC_z6wdgFkNzHG4" style="vertical-align: bottom; background-color: White"> <td style="width: 68%; text-align: left; padding-left: 10pt">Prepaid commissions</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">31,504</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">51,472</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--ServiceTrade_iI_maPEAOAzwvC_zJdFFyVsGtbb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Service Trade</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">239,041</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">364,384</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--PrepaidInsurance_iI_maPEAOAzwvC_zmEnGop0Jhac" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Prepaid insurance costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">130,345</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,661</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--PrepaidConsultingCosts_iI_maPEAOAzwvC_zwV8K2soZpA9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Prepaid consulting costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">76,767</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,332</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--PrepaidSoftwareCosts_iI_maPEAOAzwvC_zlxkQVVNTXei" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Prepaid software costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">59,855</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">29,887</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--PrepaidAdvertising_iI_maPEAOAzwvC_zdfXa36Wp7se" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Prepaid advertising and marketing costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">29,133</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,074</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--PrepaidMerchantFees_iI_maPEAOAzwvC_zZCjZbeGl4mc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Prepaid merchant fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26,690</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26,224</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--PrepaidDataLicenseAndSubscriptionCosts_iI_maPEAOAzwvC_zS2ig2x284Se" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Prepaid data license and subscription costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,125</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">53,124</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--OtherAssetsCurrent_iI_maPEAOAzwvC_zg4MkgPKO66k" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Other current assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">47,214</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">66,997</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iTI_mtPEAOAzwvC_z6neJJMFDKc9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total prepaid expenses and other current assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">643,674</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">741,155</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A8_zrSOP4c8cA17" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">  </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_896_eus-gaap--DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock_ziViK2bMSrYc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Prepaid expenses and other current assets consisted of the following at the dates indicated:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B3_z8fGEH5nmDGi" style="display: none">Summary of Prepaid Expenses and Other Current Assets</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20241231__us-gaap--AwardTypeAxis__custom--ReverseStockSplitMember_zXogHkKRYpIb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20231231_z4zKLyL9p6ll" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Prepaid expenses and other current assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--PrepaidCommissions_iI_maPEAOAzwvC_z6wdgFkNzHG4" style="vertical-align: bottom; background-color: White"> <td style="width: 68%; text-align: left; padding-left: 10pt">Prepaid commissions</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">31,504</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">51,472</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--ServiceTrade_iI_maPEAOAzwvC_zJdFFyVsGtbb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Service Trade</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">239,041</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">364,384</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--PrepaidInsurance_iI_maPEAOAzwvC_zmEnGop0Jhac" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Prepaid insurance costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">130,345</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,661</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--PrepaidConsultingCosts_iI_maPEAOAzwvC_zwV8K2soZpA9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Prepaid consulting costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">76,767</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,332</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--PrepaidSoftwareCosts_iI_maPEAOAzwvC_zlxkQVVNTXei" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Prepaid software costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">59,855</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">29,887</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--PrepaidAdvertising_iI_maPEAOAzwvC_zdfXa36Wp7se" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Prepaid advertising and marketing costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">29,133</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,074</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--PrepaidMerchantFees_iI_maPEAOAzwvC_zZCjZbeGl4mc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Prepaid merchant fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26,690</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26,224</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--PrepaidDataLicenseAndSubscriptionCosts_iI_maPEAOAzwvC_zS2ig2x284Se" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Prepaid data license and subscription costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,125</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">53,124</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--OtherAssetsCurrent_iI_maPEAOAzwvC_zg4MkgPKO66k" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Other current assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">47,214</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">66,997</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iTI_mtPEAOAzwvC_z6neJJMFDKc9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total prepaid expenses and other current assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">643,674</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">741,155</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 31504 51472 239041 364384 130345 17661 76767 120332 59855 29887 29133 11074 26690 26224 3125 53124 47214 66997 643674 741155 <p id="xdx_80C_eus-gaap--GoodwillDisclosureTextBlock_zfE2K5AwKyo2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>11. <span id="xdx_82C_zjComLpQAaPb">Goodwill</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_890_eus-gaap--ScheduleOfGoodwillTextBlock_z3zRXckc4SC8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following is a summary of goodwill by reportable segment as of and for the years ended December 31, 2024 and 2023:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span id="xdx_8B7_zZeMMc5Q6yRl" style="display: none">Summary of Goodwill by Reportable Segment</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BE_us-gaap--StatementBusinessSegmentsAxis_custom--BanzaiOperatingMember_zHCmRYl2yNJa" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Banzai Operating Co.</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B4_us-gaap--StatementBusinessSegmentsAxis_custom--OpenReelMember_zkNQk6Qy84Xl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">OpenReel</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B6_zShlH7xLPFWd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Consolidated</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_435_c20240101__20241231_eus-gaap--Goodwill_iS_zdt7c4X2UyTe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%">Goodwill - December 31, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">2,171,526</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl5511">—</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">2,171,526</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--GoodwillAcquiredDuringPeriod_z39x286IJRTd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-size: 10pt">Additions to goodwill (<i>Note 5</i>)</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl5514">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">19,526,409</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">19,526,409</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--AccumulatedImpairmentLosses_zkLmrCPhicQc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accumulated impairment losses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl5518">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl5519">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl5520">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--GoodwillImpairmentLoss_iN_di_z1EVONxyhR6d" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Impairment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl5522">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,725,460</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,725,460</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_433_c20240101__20241231_eus-gaap--Goodwill_iE_z25qxm5GW664" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Goodwill - December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,171,526</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">16,800,949</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">18,972,475</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A0_zE1wzbzrn5A6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We identify our reporting units in accordance with the FASB ASC Subtopic 280. The carrying value and fair value for intangible assets and goodwill for a reporting unit are calculated based on key assumptions and valuation methodologies. The discounted cash flow methodology is a widely accepted valuation technique utilized by market participants in the transaction evaluation process and has been applied consistently. We also considered our market capitalization at December 31, 2024 and December 31, 2023, as compared to the aggregate fair values of our reporting units, to assess the reasonableness of our estimates pursuant to the discounted cash flow methodology. Management further supports its conclusions by assessing a combination of an income valuation methodology, comprising a discounted cash flow analysis and market valuation methodologies, comprising the guideline public company and guideline transaction methods. The estimates and assumptions made in assessing the fair value of our reporting units and the valuation of the underlying assets and liabilities are inherently subject to significant uncertainties related to future sales, gross margins, and advertising and marketing expenses, which can be impacted by increases in competition, changing consumer preferences, technology development expenses, technical advances, and inflation. The discount rate assumption may be influenced by such factors as changes in interest rates and rates of inflation, which can have an impact on the determination of fair value. If these assumptions are adversely affected, we may be required to record additional impairment charges in the future.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At December 31, 2023, the Company had <span id="xdx_90D_eus-gaap--NumberOfOperatingSegments_dc_uInteger_c20230101__20231231_zdTbJE6ZXHLa" title="Number of operating segments">one</span> operating segment which was deemed to be its only reporting unit, and as such goodwill was allocated to that <span id="xdx_908_eus-gaap--NumberOfReportingUnits_dc_uInteger_c20230101__20231231_zmjmBedInXJ1" title="Number of reporting units">one</span> reporting unit and the carrying value was determined based on the equity of the entire company for purposes of evaluating goodwill impairment. As of December 31, 2023, the reporting unit had a negative carrying value. <span id="xdx_90A_eus-gaap--GoodwillImpairmentLoss_dxL_c20230101__20231231_z9iFwiWPiiy6" title="Impairment of goodwill::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl5534">No</span></span> impairment of goodwill was identified as of December 31, 2023.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At December 31, 2024, as the Company has <span id="xdx_90D_eus-gaap--NumberOfOperatingSegments_dc_uInteger_c20240101__20241231_zG0YlQoHihml" title="Number of operating segments">two</span> operating segments which were deemed to be its reporting units, goodwill is allocated to each reporting unit and the carrying value of each reporting unit is determined based on the present value of the reporting unit’s specific discounted cash flows for purposes of evaluating goodwill impairment. As of December 31, 2024, the date of the last goodwill impairment analysis, the Banzai Operating Co. reporting unit had a negative carrying value, and <span id="xdx_908_eus-gaap--GoodwillImpairmentLoss_dxL_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--BanzaiOperatingMember_zumB2xGtyl9d" title="Impairment of goodwill::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl5538">no</span></span> impairment to goodwill was identified as of December 31, 2024. As of December 31, 2024, the OpenReel reporting unit had a carrying value that exceeded the fair value of the reporting unit. As such an impairment to goodwill $<span id="xdx_901_eus-gaap--GoodwillImpairmentLoss_pn5n6_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--OpenReelMember_z3FYcaGtWEXl" title="Impairment of goodwill">2.7</span> million was identified as of December 31, 2024.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_890_eus-gaap--ScheduleOfGoodwillTextBlock_z3zRXckc4SC8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following is a summary of goodwill by reportable segment as of and for the years ended December 31, 2024 and 2023:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span id="xdx_8B7_zZeMMc5Q6yRl" style="display: none">Summary of Goodwill by Reportable Segment</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BE_us-gaap--StatementBusinessSegmentsAxis_custom--BanzaiOperatingMember_zHCmRYl2yNJa" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Banzai Operating Co.</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B4_us-gaap--StatementBusinessSegmentsAxis_custom--OpenReelMember_zkNQk6Qy84Xl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">OpenReel</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B6_zShlH7xLPFWd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Consolidated</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_435_c20240101__20241231_eus-gaap--Goodwill_iS_zdt7c4X2UyTe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%">Goodwill - December 31, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">2,171,526</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl5511">—</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">2,171,526</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--GoodwillAcquiredDuringPeriod_z39x286IJRTd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-size: 10pt">Additions to goodwill (<i>Note 5</i>)</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl5514">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">19,526,409</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">19,526,409</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--AccumulatedImpairmentLosses_zkLmrCPhicQc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accumulated impairment losses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl5518">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl5519">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl5520">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--GoodwillImpairmentLoss_iN_di_z1EVONxyhR6d" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Impairment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl5522">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,725,460</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,725,460</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_433_c20240101__20241231_eus-gaap--Goodwill_iE_z25qxm5GW664" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Goodwill - December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,171,526</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">16,800,949</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">18,972,475</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 2171526 2171526 19526409 19526409 2725460 2725460 2171526 16800949 18972475 1 1 2 2700000 <p id="xdx_804_eus-gaap--AccountsPayableAccruedLiabilitiesAndOtherLiabilitiesDisclosureCurrentTextBlock_zxe9Aln5AK12" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>12. <span id="xdx_82B_zLF6nV0up9Ca">Accrued Expenses and Other Current Liabilities</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_89A_eus-gaap--ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock_zaV5TIFNSff3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Accrued expenses and other current liabilities consisted of the following at the dates indicated:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8B4_ziEKfAFf7mE3" style="display: none">Summary of Accrued and Other Current Liabilities</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20241231_zuk0lwaRTaPk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20231231_zHJRmpKWyDAi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued expenses and other current liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--AccruedAccountingAndProfessionalServicesCosts_iI_maALAOLzkvQ_zpp2IjlQdRfh" style="vertical-align: bottom; background-color: White"> <td style="width: 68%; text-align: left; padding-left: 10pt">Accrued accounting and professional services costs</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">2,419,829</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1,511,889</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_ecustom--SalesTaxPayableCurrent_iI_maALAOLzkvQ_zyrHHQ9THFU7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Sales tax payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">452,508</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">314,873</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--AccruedLegalCosts_iI_maALAOLzkvQ_z80UYu6GMmB4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Accrued legal costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">315,764</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,694,439</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--ExciseTaxPayableCurrent_iI_maALAOLzkvQ_zvmyth6KJK0b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Excise tax payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">223,717</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">223,717</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--AccruedPayrollAndBenefitCosts_iI_maALAOLzkvQ_zPnWfrmEpgTg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Accrued payroll and benefit costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">207,970</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">185,504</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--AccruedStreamingServiceCosts_iI_maALAOLzkvQ_zNsr0Nsyr4cf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Accrued streaming service costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">51,308</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">37,765</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--AccruedSubscriptionCosts_iI_maALAOLzkvQ_zOyjGf4X0lTf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Accrued subscription costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">46,759</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22,110</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--DepositLiabilityCurrent_iI_maALAOLzkvQ_zmr4RQJyj2Zh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Deposits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl5567">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">54,102</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--OtherLiabilities_iI_maALAOLzkvQ_z7tAnjnkYQ94" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Other current liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">173,163</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">149,841</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AccruedLiabilitiesAndOtherLiabilities_iTI_mtALAOLzkvQ_zhtX3SXeDJCl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total accrued expenses and other current liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,891,018</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,194,240</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A5_zGtI1qqJVpz3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">  </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_89A_eus-gaap--ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock_zaV5TIFNSff3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Accrued expenses and other current liabilities consisted of the following at the dates indicated:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8B4_ziEKfAFf7mE3" style="display: none">Summary of Accrued and Other Current Liabilities</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20241231_zuk0lwaRTaPk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20231231_zHJRmpKWyDAi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued expenses and other current liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--AccruedAccountingAndProfessionalServicesCosts_iI_maALAOLzkvQ_zpp2IjlQdRfh" style="vertical-align: bottom; background-color: White"> <td style="width: 68%; text-align: left; padding-left: 10pt">Accrued accounting and professional services costs</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">2,419,829</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1,511,889</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_ecustom--SalesTaxPayableCurrent_iI_maALAOLzkvQ_zyrHHQ9THFU7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Sales tax payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">452,508</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">314,873</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--AccruedLegalCosts_iI_maALAOLzkvQ_z80UYu6GMmB4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Accrued legal costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">315,764</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,694,439</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--ExciseTaxPayableCurrent_iI_maALAOLzkvQ_zvmyth6KJK0b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Excise tax payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">223,717</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">223,717</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--AccruedPayrollAndBenefitCosts_iI_maALAOLzkvQ_zPnWfrmEpgTg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Accrued payroll and benefit costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">207,970</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">185,504</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--AccruedStreamingServiceCosts_iI_maALAOLzkvQ_zNsr0Nsyr4cf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Accrued streaming service costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">51,308</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">37,765</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--AccruedSubscriptionCosts_iI_maALAOLzkvQ_zOyjGf4X0lTf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Accrued subscription costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">46,759</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22,110</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--DepositLiabilityCurrent_iI_maALAOLzkvQ_zmr4RQJyj2Zh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Deposits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl5567">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">54,102</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--OtherLiabilities_iI_maALAOLzkvQ_z7tAnjnkYQ94" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Other current liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">173,163</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">149,841</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AccruedLiabilitiesAndOtherLiabilities_iTI_mtALAOLzkvQ_zhtX3SXeDJCl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total accrued expenses and other current liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,891,018</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,194,240</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 2419829 1511889 452508 314873 315764 2694439 223717 223717 207970 185504 51308 37765 46759 22110 54102 173163 149841 3891018 5194240 <p id="xdx_809_ecustom--DeferredRevenueTextBlock_zKlOJJE0VIw1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>13. <span id="xdx_824_zWT1JKHknaed">Deferred Revenue</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Deferred revenue represents amounts that have been collected in advance of revenue recognition and is recognized as revenue when transfer of control to customers has occurred or services have been provided. The deferred revenue balance does not represent the total contract value of annual or multi-year, non-cancelable revenue agreements. Differences between the revenue recognized per the below schedule, and the revenue recognized per the consolidated statement of operations, reflect amounts not recognized through the deferred revenue process, and which have been determined to be insignificant. For the years ended December 31, 2024 and 2023, the Company recognized $<span id="xdx_906_eus-gaap--ContractWithCustomerLiabilityRevenueRecognized_c20240101__20241231_zWE73c56sKHd" title="Recognition of deferred revenue">1,214,096</span> and $<span id="xdx_902_eus-gaap--ContractWithCustomerLiabilityRevenueRecognized_c20230101__20231231_z38vjhnNzyF3" title="Recognition of deferred revenue">930,436</span> in revenue that was included in the prior year deferred revenue balance, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_89B_eus-gaap--ContractWithCustomerAssetAndLiabilityTableTextBlock_zSMJ6GKfiffl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The change in total deferred revenue was as follows for the periods indicated:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span id="xdx_8B0_zNmdHjqstmp2" style="display: none">Summary of Changes in Deferred Revenue</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49D_20240101__20241231_z6JkDIFYpx1e" style="font-weight: bold; text-align: center">Year Ended</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49D_20230101__20231231_zicLZCbv3OW1" style="font-weight: bold; text-align: center">Year Ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_ecustom--ContractWithCustomerLiabilities_iS_zPRgRKm9GG87" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Deferred revenue, beginning of period</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,214,096</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">930,436</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_ecustom--ContractWithCustomerLiabilityBillings_zjQOVZP1TRC7" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Billings</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,362,730</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,781,924</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--ContractWithCustomerLiabilityRevenueRecognitionOfDeferredRevenuePriorYear_iN_di_zuHJZimFnVDl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Revenue recognized (prior year deferred revenue)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,214,096</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(930,436</td><td style="text-align: left">)</td></tr> <tr id="xdx_409_ecustom--ContractWithCustomerLiabilityRevenueRecognitionOfDeferredRevenueCurrentYear_iN_di_z47xBciVi8eb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Revenue recognized (current year deferred revenue)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,091,333</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,567,828</td><td style="text-align: left">)</td></tr> <tr id="xdx_40A_ecustom--ContractWithCustomerLiabilityOpenReelDeferredRevenueCurrent_zDJ2yMKeTXIi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">OpenReel deferred revenue - short-term</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,663,230</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl5597">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--ContractWithCustomerLiabilityCurrent_iE_zVqr0o4kVJth" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Deferred revenue - short-term, end of period</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,934,627</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,214,096</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--ContractWithCustomerLiabilitiesOpenReelDeferredRevenueNoncurrent_zTrKe1kOmddb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">OpenReel deferred revenue - long-term</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">117,643</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl5603">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--ContractWithCustomerLiabilities_iE_zofrUiCnBEuf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Deferred revenue - short-term and long-term, end of period</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,052,270</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,214,096</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A1_zWB0JnYYISO9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> 1214096 930436 <p id="xdx_89B_eus-gaap--ContractWithCustomerAssetAndLiabilityTableTextBlock_zSMJ6GKfiffl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The change in total deferred revenue was as follows for the periods indicated:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span id="xdx_8B0_zNmdHjqstmp2" style="display: none">Summary of Changes in Deferred Revenue</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49D_20240101__20241231_z6JkDIFYpx1e" style="font-weight: bold; text-align: center">Year Ended</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49D_20230101__20231231_zicLZCbv3OW1" style="font-weight: bold; text-align: center">Year Ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_ecustom--ContractWithCustomerLiabilities_iS_zPRgRKm9GG87" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Deferred revenue, beginning of period</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,214,096</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">930,436</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_ecustom--ContractWithCustomerLiabilityBillings_zjQOVZP1TRC7" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Billings</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,362,730</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,781,924</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--ContractWithCustomerLiabilityRevenueRecognitionOfDeferredRevenuePriorYear_iN_di_zuHJZimFnVDl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Revenue recognized (prior year deferred revenue)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,214,096</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(930,436</td><td style="text-align: left">)</td></tr> <tr id="xdx_409_ecustom--ContractWithCustomerLiabilityRevenueRecognitionOfDeferredRevenueCurrentYear_iN_di_z47xBciVi8eb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Revenue recognized (current year deferred revenue)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,091,333</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,567,828</td><td style="text-align: left">)</td></tr> <tr id="xdx_40A_ecustom--ContractWithCustomerLiabilityOpenReelDeferredRevenueCurrent_zDJ2yMKeTXIi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">OpenReel deferred revenue - short-term</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,663,230</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl5597">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--ContractWithCustomerLiabilityCurrent_iE_zVqr0o4kVJth" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Deferred revenue - short-term, end of period</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,934,627</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,214,096</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--ContractWithCustomerLiabilitiesOpenReelDeferredRevenueNoncurrent_zTrKe1kOmddb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">OpenReel deferred revenue - long-term</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">117,643</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl5603">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--ContractWithCustomerLiabilities_iE_zofrUiCnBEuf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Deferred revenue - short-term and long-term, end of period</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,052,270</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,214,096</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 1214096 930436 4362730 4781924 1214096 930436 3091333 3567828 2663230 3934627 1214096 117643 4052270 1214096 <p id="xdx_809_eus-gaap--DebtDisclosureTextBlock_zA0GaI2KahL" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>14. <span id="xdx_824_zVvZkCiW6rL4">Debt</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Convertible Notes</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Convertible Notes - Related Party</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On March 21, 2022, the Company issued a subordinated convertible promissory note (“Old Alco Note”) for a principal sum of $<span id="xdx_903_eus-gaap--DebtInstrumentFaceAmount_iI_c20220331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember_z0p0dtFtsak7" title="Principal amount">2,000,000</span> to Alco Investment Company (“Alco”), a related party. Alco held approximately <span id="xdx_90D_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_c20220321__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zJ1m6fnx8xq1" title="Ownership percentage">5</span>% of the issued equity of the Company, through its ownership of Series A preferred stock. The Old Alco Note bore interest at a rate of <span id="xdx_908_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_c20220321__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember_zLkUzHFg3eJe" title="Ownership percentage">15</span>% per annum until exchanged. The outstanding principal and accrued interest were due and payable on December 31, 2023 (“Original Maturity Date”), provided that, Alco could elect to extend the Original Maturity Date up to two times by additional 12-month increments by delivering written notice to the Company prior to the Original Maturity Date of such election. <span id="xdx_90B_eus-gaap--DebtInstrumentConvertibleTermsOfConversionFeature_c20220321__20220321__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember_zY38od9ZrAEe" title="Debt instrument conversion feature">The outstanding principal and interest under the Old Alco Note was, at the Holder’s election, either (i) effective upon the closing of an Equity Financing (as defined in the agreement), to be converted into shares of the same series of preferred stock of the Company issued to other investors in the Equity Financing (the “Equity Financing Securities”) at a conversion price equal to <span id="xdx_901_ecustom--DebtInstrumentConversionPercentage_dp_c20220321__20220321__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember_z6421DCqzIZ8" title="Ownership percentage">85</span>% of the price per share of Equity Financing Securities paid by the other investors in the Equity Financing, with any resulting fraction of a share rounded to the nearest whole share (with 0.5 being rounded up) (the “Conversion Option”) or (ii) immediately prior to the closing of an Equity Financing, become due and payable in cash.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The embedded redemption put feature upon an Equity Financing is not clearly and closely related to the debt host instrument, was separated from the debt host and initially measured at fair value. Subsequent changes in fair value of the feature are recognized in the Consolidated Statement of Operations. The fair value (see <i>Note 8 - Fair Value Measurements</i>) of the bifurcated derivative liability was estimated utilizing the with and without method which uses the probability weighted difference between the scenarios with the derivative and the plain vanilla maturity scenario without a derivative.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Discounts to the principal amounts were included in the carrying value of the Old Alco Note and amortized to interest expense over the remaining term of the underlying debt. During 2022, the Company recorded a $<span id="xdx_905_eus-gaap--AmortizationOfDebtDiscountPremium_c20220101__20221231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember_zJHL7gEoAM09" title="Debt discount">151,000</span> debt discount upon issuance of the Old Alco Note. For the year ended December 31, 2022, interest expense on the Old Alco Note totaled $<span id="xdx_900_eus-gaap--InterestExpenseDebt_c20220101__20221231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember_z9w4a51tOAOl" title="Interest expense">124,621</span>, comprised of $<span id="xdx_90B_eus-gaap--InterestExpenseDebtExcludingAmortization_c20220101__20221231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember_zCuQ1ihbGZ79" title="Contractual interest">100,274</span> of contractual interest and $<span id="xdx_90F_eus-gaap--AmortizationOfFinancingCosts_c20220101__20221231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember_znI0hRC3DyKc" title="Amortization of the discount">24,347</span> for the amortization of the discount. The effective interest rate was <span id="xdx_902_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_dp_c20221231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember_zp1K5OSpmkBb" title="Interest rate">20</span>% prior to the exchange of the Old Alco Note as noted below.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On July 19, 2022, the Company and Alco entered into an exchange agreement whereby Alco and the Company agreed to the cancellation of the Old Alco Note in exchange for the issuance of a new subordinated convertible promissory note in the principal amount of $<span id="xdx_90F_eus-gaap--DebtInstrumentFaceAmount_iI_c20220719__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember_zmYD9u6GWfoi" title="Principal amount">2,101,744</span> (representing the principal amount plus accrued interest under the Old Alco Note) (the “New Alco Note”). In accordance with ASC 470 <i>Debt</i>, the Company treated the Old Alco Note as extinguished and recognized a loss on debt extinguishment of $<span id="xdx_90D_eus-gaap--GainsLossesOnExtinguishmentOfDebt_c20220719__20220719__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember_zDEmUbsfsQGh" title="Loss on debt extinguishment">56,653</span>, determined by the sum of the fair value of the New Alco Note in excess of the carrying value of the Old Alco Note less the bifurcated embedded derivative liability at the time of the modification.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">  </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Between July and September 2022, the Company issued additional subordinated convertible notes (together with the New Alco Note, the “2022 Related Party Convertible Notes”) for an aggregate amount of $<span id="xdx_902_eus-gaap--DebtInstrumentFaceAmount_iI_c20220731__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMansonWardAndDNXMember_zsoUx3TxaPti" title="Principal amount"><span id="xdx_905_eus-gaap--DebtInstrumentFaceAmount_iI_c20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMansonWardAndDNXMember_ziPX6rBCVGTb" title="Principal amount">4,200,538</span></span> to related parties Alco, Mason Ward and DNX. Between March and September 2023, the Company issued additional subordinate convertible notes (together with the 2022 Related Party Convertible Notes, the “Related Party Convertible Notes”) for an aggregate amount of $<span id="xdx_90F_eus-gaap--DebtInstrumentFaceAmount_iI_c20230331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMansonWardDNXAndWilliamBryantMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyConvertibleNotesMember_zA9k6d1Badse" title="Principal amount"><span id="xdx_90F_eus-gaap--DebtInstrumentFaceAmount_iI_c20230930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMansonWardDNXAndWilliamBryantMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyConvertibleNotesMember_z4ty4Cb4TATj" title="Principal amount">2,583,000</span></span> to related parties Alco, Mason Ward, DNX and William Bryant. DNX held in excess of <span id="xdx_90D_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_c20230930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyConvertibleNotesMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DNXMember__srt--RangeAxis__srt--MinimumMember_zZi1GE45Hjyd" title="Issued equity percentage">5</span>% of the issued equity of the Company, through its ownership of Series A preferred stock. William Bryant will become a member of the Board of Directors upon completion of the Merger. <span id="xdx_906_eus-gaap--DebtInstrumentConvertibleTermsOfConversionFeature_c20230401__20230930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyConvertibleNotesMember_zqejNlzI6Njd" title="Debt instrument conversion feature">The Related Party Convertible Notes bear interest at a rate of <span id="xdx_904_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_c20230930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyConvertibleNotesMember_zioAFNM3yngc" title="Issued equity percentage">8</span>% per annum, and are convertible into the same series of capital stock of the Company to be issued to other investors upon a Qualified Financing (as defined in the agreement) at a conversion price equal to the lesser of (i) <span id="xdx_90C_ecustom--DebtInstrumentConversionPercentage_dp_c20230401__20230930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyConvertibleNotesMember_zzK946PQfmY7" title="Debt instrument conversion percentage">80</span>% of the per share price paid by the cash purchasers of such Qualified Financing Securities (as defined in the agreement) in the Qualified Financing, or (ii) the conversion price obtained by dividing $<span id="xdx_900_ecustom--NumeratorUsedForObtainingConversionPrice_c20230401__20230930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyConvertibleNotesMember_znfm5QfCnng5" title="Conversion price">50,000,000</span> by the Fully Diluted Capitalization (as defined in the agreement). If not sooner converted or prepaid, the Convertible Notes are payable no later than the earlier of (a) the written demand by the holders of a majority-in-interest of the Notes then outstanding on or after September 1, 2023, (b) consummation of a Liquidity Event (as defined in the agreement), or (c) the written demand by the Majority Holders (as defined in the agreement) after an Event of Default (as defined in the agreement) has occurred. In the event of a Liquidity Event (as defined below) while this Note is outstanding, immediately prior to the closing of such Liquidity Event and in full satisfaction of this Note, an amount equal to the greater of (a) the Outstanding Amount, or (b) two times (2x) the principal amount of this Note then outstanding shall become immediately due and payable in cash.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The embedded redemption put feature upon an Equity Financing and the optional redemption upon a Liquidity Event at a substantial premium are not clearly and closely related to the debt host instrument, were separated and bundled together, assigned probabilities of being affected and initially measured at fair value. Subsequent changes in fair value of the feature will be recognized in the Consolidated Statement of Operations. The fair value of the bifurcated derivative liability was estimated utilizing the with and without method which uses the probability weighted difference between the scenarios with the derivative and the plain vanilla maturity scenario without a derivative (see <i>Note 8 - Fair Value Measurements</i>).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Discounts to the principal amounts are included in the carrying value of the Related Party Convertible Notes and amortized to interest expense over the contractual term of the underlying debt. During the year ended December 31, 2023, the Company recorded a $<span id="xdx_90E_eus-gaap--AmortizationOfDebtDiscountPremium_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyConvertibleNotesMember_zJA9oYq3QC04" title="Amortization of debt discount">1,126,451</span> debt discount upon issuance of additional Related Party Convertible Notes. For the year ended December 31, 2023, interest expense on the Related Party Convertible Notes totaled $<span id="xdx_907_eus-gaap--InterestExpense_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyConvertibleNotesMember_z1DH0RinsBgd" title="Interest expense">2,307,013</span>, comprised of $<span id="xdx_90A_eus-gaap--InterestExpenseDebt_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyConvertibleNotesMember_zGjj6dJcJD8" title="Interest expense debt">464,071</span> of contractual interest and $<span id="xdx_90A_eus-gaap--DebtRelatedCommitmentFeesAndDebtIssuanceCosts_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyConvertibleNotesMember_zApHVrLXGeVj" title="Amortization of the discount">1,842,942</span> for the amortization of the discount.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>March 2023 Amendment</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In March 2023, the Related Party Convertible Notes were amended to extend the maturity to December 31, 2023. The Company evaluated the terms of the First Amendment in accordance with ASC 470-60, Troubled Debt Restructurings, and ASC 470-50, Debt Modifications and Extinguishments. The Company determined that the Company was granted a concession by the lender based on the decrease of the effective borrowing rate on the First Amendment. Accordingly, the Company accounted for the First Amendment as a troubled debt restructuring. As a result, the Company accounted for the troubled debt restructuring by calculating a new effective interest rate for the First Amendment based on the carrying amount of the debt and the present value of the revised future cash flow payment stream. The troubled debt restructuring did not result in recognition of a gain or loss in the consolidated statement of operations but does impact interest expense recognized in the future.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Conversion of Related Party Convertible Notes</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 14, 2023, all outstanding principal and accrued interest, net of the remaining debt discount, related to the Related Party Convertible Notes, totaling $<span id="xdx_908_eus-gaap--DebtInstrumentFaceAmount_iI_c20231214__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyConvertibleNotesMember_zbsq2sfVxid7" title="Principal amount">7,271,368</span> converted into <span id="xdx_902_eus-gaap--ConversionOfStockSharesConverted1_c20231214__20231214__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyConvertibleNotesMember_zNkFE6dPwovi" title="Conversion of stock">2,293</span> shares the Company’s Class A Common Stock pursuant to the close of the Merger Agreement and application of the exchange ratio.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Convertible Notes - Third Party</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Between July and September 2022, the Company issued additional subordinated convertible notes (the “2022 Third Party Convertible Notes”) for an aggregate amount of $<span id="xdx_90A_eus-gaap--DebtInstrumentFaceAmount_iI_c20220930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ThirdPartyCreditorsMember__us-gaap--LongtermDebtTypeAxis__custom--TwoThousandTwentyTwoThirdPartyConvertibleNotesMember_zeaW8fdqxpY8" title="Principal amount">1,761,206</span> to third-party creditors. Between March and September 2023, the Company issued additional subordinate convertible notes (together with the 2022 Third Party Convertible Notes, the “Third Party Convertible Notes”) for an aggregate amount of $<span id="xdx_900_eus-gaap--DebtInstrumentFaceAmount_iI_c20220930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ThirdPartyCreditorsMember__us-gaap--LongtermDebtTypeAxis__custom--ThirdPartyConvertibleNotesMember_zCJLpsaWbN3c" title="Principal amount">1,435,000</span> to third-party creditors. <span id="xdx_900_eus-gaap--DebtInstrumentConvertibleTermsOfConversionFeature_c20230401__20230930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_zVw3FEX3Lz91">The Third Party Convertible Notes bear interest at a rate of <span id="xdx_901_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_c20230930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_z1ChQh7hrTwc">8</span>% per annum, and are convertible into the same series of capital stock of the Company to be issued to other investors upon a Qualified Financing (as defined in the agreement) at a conversion price equal to the lesser of (i) <span id="xdx_905_ecustom--DebtInstrumentConversionPercentage_dp_c20230401__20230930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_zuLdi7UPzqAj">80</span>% of the per share price paid by the cash purchasers of such Qualified Financing Securities (as defined in the agreement) in the Qualified Financing, or (ii) the conversion price obtained by dividing $<span id="xdx_909_ecustom--NumeratorUsedForObtainingConversionPrice_dp_c20230401__20230930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_z3V2RuubgJLi">50,000,000</span> by the Fully Diluted Capitalization (as defined in the agreement). If not sooner converted or prepaid, the Convertible Notes are payable no later than the earlier of (a) the written demand by the holders of a majority-in-interest of the Notes then outstanding on or after September 1, 2023, (b) consummation of a Liquidity Event (as defined in the agreement), or (c) the written demand by the Majority Holders (as defined in the agreement) after an Event of Default (as defined in the agreement) has occurred. In the event of a Liquidity Event (as defined below) while this Note is outstanding, immediately prior to the closing of such Liquidity Event and in full satisfaction of this Note, an amount equal to the greater of (a) the Outstanding Amount, or (b) two times (2x) the principal amount of this Note then outstanding shall become immediately due and payable in cash.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The embedded redemption put feature upon an Equity Financing and the optional redemption upon a Liquidity Event at a substantial premium are not clearly and closely related to the debt host instrument, were separated and bundled together, assigned probabilities of being affected and initially measured at fair value. Subsequent changes in fair value of the feature will be recognized in the Consolidated Statement of Operations. The fair value of the bifurcated derivative liability was estimated utilizing the with and without method which uses the probability weighted difference between the scenarios with the derivative and the plain vanilla maturity scenario without a derivative (see <i>Note 8 - Fair Value Measurements</i>).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Discounts to the principal amounts are included in the carrying value of the Third Party Convertible Notes and amortized to interest expense over the contractual term of the underlying debt. During the year ended December 31, 2023, the Company recorded a $<span id="xdx_90B_eus-gaap--AmortizationOfDebtDiscountPremium_c20230101__20231231__us-gaap--DebtInstrumentAxis__custom--TwoThousandAndTwentyTwoConvertibleNotesMember_zkRbOrtHAPr8" title="Debt discount upon issuance">559,390</span> debt discount upon issuance of additional Third Party Convertible Notes. For the year ended December 31, 2023, interest expense on the Third Party Convertible Notes totaled $<span id="xdx_903_eus-gaap--InterestExpense_c20230101__20231231__us-gaap--DebtInstrumentAxis__custom--TwoThousandAndTwentyTwoConvertibleNotesMember_zWitaDXQ0CIi" title="Interest expense">1,063,093</span>, comprised of $<span id="xdx_90E_eus-gaap--InterestExpenseDebt_c20230101__20231231__us-gaap--DebtInstrumentAxis__custom--TwoThousandAndTwentyTwoConvertibleNotesMember_z5JGd6CIkOph" title="Interest expense debt">188,059</span> of contractual interest and $<span id="xdx_908_eus-gaap--DebtRelatedCommitmentFeesAndDebtIssuanceCosts_c20230101__20231231__us-gaap--DebtInstrumentAxis__custom--TwoThousandAndTwentyTwoConvertibleNotesMember_zv4cquLz2r7g" title="Debt related commitement fees and debt issuance costs">875,034</span> for the amortization of the discount.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>March 2023 Amendment</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In March 2023, the 2022 Related Party Convertible Notes were amended to extend the maturity to December 31, 2023. The Company evaluated the terms of the First Amendment in accordance with ASC 470-60, Troubled Debt Restructurings, and ASC 470-50, Debt Modifications and Extinguishments. The Company determined that the Company was granted a concession by the lender based on the decrease of the effective borrowing rate on the First Amendment. Accordingly, the Company accounted for the First Amendment as a troubled debt restructuring. As a result, the Company accounted for the troubled debt restructuring by calculating a new effective interest rate for the First Amendment based on the carrying amount of the debt and the present value of the revised future cash flow payment stream. The troubled debt restructuring did not result in recognition of a gain or loss in the consolidated statement of operations but does impact interest expense recognized in the future.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Conversion of Third Party Convertible Notes</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 14, 2023, all outstanding principal and accrued interest, net of the remaining debt discount, related to the Third Party Convertible Notes, totaling $<span id="xdx_907_eus-gaap--DebtInstrumentFaceAmount_iI_c20231214__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_z7N2fMbmxPUe" title="Face value of the convertible notes">3,346,232</span> converted into <span id="xdx_90D_eus-gaap--ConversionOfStockSharesConverted1_c20231214__20231214__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_zkFXBphic8Ed" title="Conversion of stock, shares converted">1,060</span> shares the Company’s Class A Common Stock pursuant to the close of the Merger Agreement and application of the exchange ratio.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_89C_eus-gaap--ConvertibleDebtTableTextBlock_gL3CDTTB-IZL_zTZwkeF6dqp" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table presents the Related Party and Third Party Convertible Notes, respectively, as of December 31, 2023:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8B3_z4ss6TeeX4Ag" style="display: none">Schedule of Convertible Notes</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-style: italic; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-style: italic; text-align: center">Related Party</td><td style="padding-bottom: 1pt; font-style: italic"> </td><td style="font-style: italic; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-style: italic; text-align: center">Third Party</td><td style="padding-bottom: 1pt; font-style: italic"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Face value of the convertible notes</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--ConvertibleDebtFairValueDisclosures_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zEcZJuIkkh7c" style="width: 16%; text-align: right" title="Face value of the convertible notes">6,783,538</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--ConvertibleDebtFairValueDisclosures_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_zy1J7b4U6M86" style="width: 16%; text-align: right" title="Face value of the convertible notes">3,196,206</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Debt discount, net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_ecustom--UnamortizedDebtDiscountOnConvertibleNotesPayable_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zslss3q3Mvj9" style="border-bottom: Black 1pt solid; text-align: right" title="Debt discount, net">(131,867</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_ecustom--UnamortizedDebtDiscountOnConvertibleNotesPayable_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_zEnkNkJXVSl8" style="border-bottom: Black 1pt solid; text-align: right" title="Debt discount, net">(83,688</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Carrying value of the convertible notes</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ConvertibleNotesPayable_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zEIa0XqrpG5k" style="text-align: right" title="Carrying value of the convertible notes">6,651,671</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ConvertibleNotesPayable_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_zdlwFMvWXKta" style="text-align: right" title="Carrying value of the convertible notes">3,112,518</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued interest</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_ecustom--InterestPayableOnConvertibleDebt_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z65l03UeBkhg" style="text-align: right" title="Accrued interest">619,697</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_ecustom--InterestPayableOnConvertibleDebt_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_zZIcOrsDEGFc" style="text-align: right" title="Accrued interest">233,714</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Conversion of convertible notes</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_ecustom--ConversionOfConvertibleNote_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z7Zw5SWdiCTg" style="border-bottom: Black 1pt solid; text-align: right" title="Conversion of convertible notes">(7,271,368</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_ecustom--ConversionOfConvertibleNote_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_zzkXmQrGsFwi" style="border-bottom: Black 1pt solid; text-align: right" title="Conversion of convertible notes">(3,346,232</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total convertible notes and accrued interest</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_ecustom--ConvertibleNotesAndAccruedInterest_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zWxQcjFIWLy9" style="border-bottom: Black 2.5pt double; text-align: right" title="Total convertible notes and accrued interest"><span style="-sec-ix-hidden: xdx2ixbrl5710">—</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_ecustom--ConvertibleNotesAndAccruedInterest_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_zgLIZh5Ux8Rf" style="border-bottom: Black 2.5pt double; text-align: right" title="Total convertible notes and accrued interest"><span style="-sec-ix-hidden: xdx2ixbrl5712">—</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AD_z65IvAWLOrUc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Promissory Notes</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Promissory Notes - Related Party</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On August 30, 2023, the Company issued a subordinate promissory note (“Alco August Promissory Note”) in the aggregate principal amount of $<span id="xdx_901_eus-gaap--DebtInstrumentFaceAmount_iI_c20230830__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoAugustPromissoryNoteMember_zwIbyKS0tISl" title="Aggregate principal amount">150,000</span> to Alco Investment Company, a related party. Alco held its ownership of over <span id="xdx_901_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_uPure_c20230830__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoAugustPromissoryNoteMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zRNwhrIZj0E4" title="Equity percentage owned percentage">10</span>% of the issued equity of the Company, through its ownership of Series A preferred stock. The Alco August Promissory Note bears interest at a rate of <span id="xdx_90F_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20230830__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoAugustPromissoryNoteMember_zua9xQaMF8we" title="Debt instrument, interest rate">8</span>% per annum. The outstanding principal and accrued interest are due and payable on <span id="xdx_905_eus-gaap--DebtInstrumentMaturityDate_dd_c20230830__20230830__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoAugustPromissoryNoteMember_zsJK0ZUhU2A2" title="Debt instrument, maturity date">April 29, 2024</span>. The Company recorded a $<span id="xdx_90C_eus-gaap--DeferredFinanceCostsGross_iI_c20230830__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoAugustPromissoryNoteMember_zmJ2hOn8l8M" title="Debt instrument unamortized debt issuance costs gross">3,711</span> debt discount upon issuance of the Alco August Promissory Note. For the year ended December 31, 2024, interest expense on the Alco August Promissory Note totaled $<span id="xdx_90B_eus-gaap--InterestExpense_c20240101__20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoAugustPromissoryNoteMember_zbux3BB6njud" title="Interest expense">11,284</span>, comprised of $<span id="xdx_90E_eus-gaap--InterestExpenseDebt_c20240101__20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoAugustPromissoryNoteMember_zq9YOYR8o1L" title="Interest expense debt">8,022</span> of contractual accrued interest and $<span id="xdx_907_eus-gaap--DebtRelatedCommitmentFeesAndDebtIssuanceCosts_c20240101__20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoAugustPromissoryNoteMember_zdlaLQQjTXe9" title="Debt related commitement fees and debt issuance costs">3,261</span> for the amortization of the discount. For the year ended December 31, 2023, interest expense on the Alco August Promissory Note totaled $<span id="xdx_90D_eus-gaap--InterestExpense_c20230101__20231231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoAugustPromissoryNoteMember_zCrsw1WmzWga" title="Interest expense">4,494</span>, comprised of $<span id="xdx_90D_eus-gaap--InterestExpenseDebt_c20230101__20231231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoAugustPromissoryNoteMember_zNmLyhxPemjb" title="Interest expense debt">4,044</span> of contractual accrued interest and $<span id="xdx_901_eus-gaap--DebtRelatedCommitmentFeesAndDebtIssuanceCosts_c20230101__20231231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoAugustPromissoryNoteMember_zire2A6VBcb7" title="Debt related commitement fees and debt issuance costs">450</span> for the amortization of the discount. As of December 31, 2024 the Alco August Promissory Note was converted in full (see below). As of December 31, 2023, $<span id="xdx_90B_eus-gaap--OtherNotesPayableCurrent_iI_c20231231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoAugustPromissoryNoteMember_zt35BErKfSAa" title="Principal amount outstanding">150,000</span> of principal and $<span id="xdx_905_ecustom--InterestPayableOnOtherNotesPayableCurrent_iI_c20231231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoAugustPromissoryNoteMember_zbWadwXdWFZ1" title="Accrued interest outstanding">4,044</span> of accrued interest was outstanding under the Alco August Promissory Note recorded in note payable - related party, net of discount on the consolidated balance sheets.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 13, 2023, the Company issued a subordinate promissory note (“Alco September Promissory Note”) in the aggregate principal amount of up to $<span id="xdx_902_eus-gaap--DebtInstrumentFaceAmount_iI_c20230913__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember_zX0DI0V4BJy7" title="Face value of the convertible notes">1,500,000</span> to Alco Investment Company, a related party. The Alco September Promissory Note bears interest at a rate of <span id="xdx_904_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20230913__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember_z5jZM0gRkIM3" title="Debt instrument, interest rate">8</span>% per annum. The outstanding principal and accrued interest were due and payable on <span id="xdx_90E_eus-gaap--DebtInstrumentMaturityDate_dd_c20230913__20230913__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember_zjKawKW5R2gi" title="Debt instrument, maturity date">September 30, 2024</span>, however the due date was extended and the debt subsequently settled (see below). The Company recorded $<span id="xdx_908_eus-gaap--DeferredFinanceCostsNet_iI_c20230913__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember_zyg4FOlLvJr3" title="Debt issuance costs">8,588</span> of debt issuance costs and a $<span id="xdx_908_eus-gaap--AmortizationOfDebtDiscountPremium_c20230913__20230913__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember_zrugopuTJuXa" title="Debt discount upon issuance">638,808</span> debt discount upon issuance of the Alco September Promissory Note, relating to the share transfer agreements, see below. For the year ended December 31, 2024, interest expense on the Alco September Promissory Note totaled $<span id="xdx_90D_eus-gaap--InterestExpense_c20240101__20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember_ztVDvRtIqCui" title="Interest expense">283,188</span>, comprised of $<span id="xdx_909_eus-gaap--InterestExpenseDebt_c20240101__20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember_zci0ufQOm9t2" title="Interest expense debt">92,822</span> of contractual accrued interest and $<span id="xdx_909_eus-gaap--DebtRelatedCommitmentFeesAndDebtIssuanceCosts_c20240101__20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember_ziSHW2Ogcz05" title="Debt related commitement fees and debt issuance costs">190,366</span> for the amortization of the discount. For the year ended December 31, 2023, interest expense on the Alco September Promissory Note totaled $<span id="xdx_901_eus-gaap--InterestExpense_c20230101__20231231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember_zqoHWBm9xtXa" title="Interest expense">478,815</span>, comprised of $<span id="xdx_900_eus-gaap--InterestExpenseDebt_c20230101__20231231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember_zcmOSxGwmJB2" title="Interest expense debt">30,575</span> of contractual accrued interest and $<span id="xdx_905_eus-gaap--DebtRelatedCommitmentFeesAndDebtIssuanceCosts_c20230101__20231231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember_zFUo4jGAxSHe" title="Debt related commitement fees and debt issuance costs">448,240</span> for the amortization of the discount. As of December 31, 2024 the Alco September Promissory Note was converted in full (see below). As of December 31, 2023, $<span id="xdx_901_eus-gaap--OtherNotesPayableCurrent_iI_c20231231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember_zVSh9jlDmRwh" title="Principal amount outstanding">1,500,000</span> of principal and $<span id="xdx_90D_ecustom--InterestPayableOnOtherNotesPayableCurrent_iI_c20231231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember_z8dGZm8B2FCg" title="Interest payable on other notes payable current">30,575</span> of accrued interest was outstanding under the Alco September Promissory Note recorded in note payable - related party, net of discount on the consolidated balance sheets.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On November 16, 2023, the Company issued a subordinate promissory note (“Alco November Promissory Note”) in the aggregate principal amount of up to $<span id="xdx_900_eus-gaap--DebtInstrumentFaceAmount_iI_c20231116__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoNovemberPromissoryNoteMember__srt--RangeAxis__srt--MaximumMember_z83403tuiPTj" title="Aggregate principal amount">750,000</span> to Alco Investment Company, a related party. The Alco November Promissory Note bears interest at a rate of <span id="xdx_900_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20231116__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoNovemberPromissoryNoteMember_zuix7xBPbRd4" title="Debt instrument, interest rate">8</span>% per annum. The outstanding principal and accrued interest were due and payable on <span id="xdx_90F_eus-gaap--DebtInstrumentMaturityDate_c20231116__20231116__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoNovemberPromissoryNoteMember_zlYpYFhkINVk" title="Debt instrument, maturity date">April 13, 2024</span>, however the due date was extended and the debt subsequently settled (see below). The Company recorded a $<span id="xdx_904_eus-gaap--DeferredFinanceCostsGross_iI_c20231116__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoNovemberPromissoryNoteMember_zzTuzozmaSOh" title="Debt instrument unamortized debt issuance costs gross">363,905</span> debt discount upon issuance of the Alco November Promissory Note relating to the share transfer agreements, see below. For the year ended December 31, 2024, interest expense on the Alco November Promissory Note totaled $<span id="xdx_903_eus-gaap--InterestExpense_c20231116__20231116__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoNovemberPromissoryNoteMember_zmuxEdVZdKn6" title="Interest expense">321,189</span>, comprised of $<span id="xdx_90B_eus-gaap--InterestExpenseDebt_c20240101__20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoNovemberPromissoryNoteMember_zP8IpHNDJBC2" title="Interest expense debt">43,891</span> of contractual accrued interest and $<span id="xdx_90B_eus-gaap--DebtRelatedCommitmentFeesAndDebtIssuanceCosts_c20240101__20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoNovemberPromissoryNoteMember_ztowyVPRfRT7" title="Debt related commitement fees and debt issuance costs">277,298</span> for the amortization of the discount. For the year ended December 31, 2023, interest expense on the Alco November Promissory Note totaled $<span id="xdx_90D_eus-gaap--InterestExpense_c20230101__20231231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoNovemberPromissoryNoteMember_zb5xtRePvw25" title="Interest expense">94,005</span>, comprised of $<span id="xdx_901_eus-gaap--InterestExpenseDebt_c20230101__20231231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoNovemberPromissoryNoteMember_zMaxInBEozvc" title="Interest expense debt">7,397</span> of contractual accrued interest and $<span id="xdx_90A_eus-gaap--DebtRelatedCommitmentFeesAndDebtIssuanceCosts_c20230101__20231231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoNovemberPromissoryNoteMember_zhuyCVdmmYq2" title="Debt related commitement fees and debt issuance costs">86,608</span> for the amortization of the discount. As of December 31, 2024 the Alco November Promissory Note was converted in full (see below). As of December 31, 2023, $<span id="xdx_907_eus-gaap--OtherNotesPayableCurrent_iI_c20231231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoNovemberPromissoryNoteMember_zFbOxW1tdJWb" title="Principal amount outstanding">750,000</span> of principal and $<span id="xdx_904_ecustom--InterestPayableOnOtherNotesPayableCurrent_iI_c20231231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoNovemberPromissoryNoteMember_zVumA0T4HRT2" title="Accrued interest outstanding">7,397</span> of accrued interest was outstanding under the Alco November Promissory Note recorded in note payable - related party, net of discount on the consolidated balance sheets.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 13, 2023, the Company issued a subordinate promissory note (“Alco December Promissory Note”) in the aggregate principal amount of up to $<span id="xdx_908_eus-gaap--DebtInstrumentFaceAmount_iI_c20231213__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoDecemberPromissoryNoteMember__srt--RangeAxis__srt--MaximumMember_zkd5k3ufrkoe" title="Aggregate principal amount">2,000,000</span> to Alco Investment Company, a related party. The Alco December Promissory Note bears interest at a rate of <span id="xdx_903_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20231213__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoDecemberPromissoryNoteMember_zaDY1Mp6h3rg" title="Debt instrument, interest rate">8</span>% per annum. The outstanding principal and accrued interest are due and payable on <span id="xdx_909_eus-gaap--DebtInstrumentMaturityDate_c20231213__20231213__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoNovemberPromissoryNoteMember_ztHEO7Vh9wXa" title="Debt instrument, maturity date">December 31, 2024</span>. The Company recorded a $<span id="xdx_90E_eus-gaap--DeferredFinanceCostsGross_iI_c20231213__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoDecemberPromissoryNoteMember_zNOgZS7HSlcl" title="Debt instrument unamortized debt issuance costs gross">1,496,252 </span>debt discount upon issuance of the Alco December Promissory Note, relating to the share transfer agreements, see below. For the year ended December 31, 2024, interest expense on the Alco December Promissory Note totaled $<span id="xdx_90B_eus-gaap--InterestExpense_c20240101__20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoDecemberPromissoryNoteMember_zXXzoh3knn9b" title="Interest expense">936,941</span>, comprised of $<span id="xdx_901_eus-gaap--InterestExpenseDebt_c20240101__20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoDecemberPromissoryNoteMember_zmifKSsdgkw3" title="Interest expense debt">117,040</span> of contractual accrued interest and $<span id="xdx_902_eus-gaap--DebtRelatedCommitmentFeesAndDebtIssuanceCosts_c20240101__20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoDecemberPromissoryNoteMember_ztCtD4DZKxO3" title="Debt related commitement fees and debt issuance costs">819,901</span> for the amortization of the discount. For the year ended December 31, 2023, interest expense on the Alco December Promissory Note totaled $<span id="xdx_909_eus-gaap--InterestExpense_c20230101__20231231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoDecemberPromissoryNoteMember_z9oAaKje2iae" title="Interest expense">39,087</span>, comprised of $<span id="xdx_906_eus-gaap--InterestExpenseDebt_c20230101__20231231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoDecemberPromissoryNoteMember_zflEPE6bq4jh" title="Interest expense debt">7,890</span> of contractual accrued interest and $<span id="xdx_906_eus-gaap--DebtRelatedCommitmentFeesAndDebtIssuanceCosts_c20230101__20231231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoDecemberPromissoryNoteMember_zs6aP3XOKPUh" title="Debt related commitement fees and debt issuance costs">31,197</span> for the amortization of the discount. As of December 31, 2024 the Alco December Promissory Note was converted in full (see below). As of December 31, 2023, $<span id="xdx_901_eus-gaap--OtherNotesPayableCurrent_iI_c20231231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoDecemberPromissoryNoteMember_zzgsMH7DI8Ql" title="Principal amount outstanding">2,000,000</span> of principal and $<span id="xdx_909_ecustom--InterestPayableOnOtherNotesPayableCurrent_iI_c20231231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__us-gaap--LongtermDebtTypeAxis__custom--AlcoDecemberPromissoryNoteMember_z6Xn3TELttTh" title="Accrued interest outstanding">7,890</span> of accrued interest was outstanding under the Alco December Promissory Note recorded in note payable – related party, net of discount on the consolidated balance sheets.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with the issuances of the Alco September, November, and December Promissory Notes, the Company, 7GC and the Sponsor entered into share transfer agreements (the “Alco Share Transfer Agreements”) with Alco Investment Company. Pursuant to which <span id="xdx_905_eus-gaap--DebtConversionDescription_c20240101__20241231__us-gaap--LongtermDebtTypeAxis__custom--AlcoNovemberPromissoryNoteMember__custom--ComponentsAxis__custom--AlcoShareTransferAgreementsMember__dei--LegalEntityAxis__custom--SevenGcCoHoldingsIncMember_zV2Ohud6W0hd" title="Debt conversion, description">for each $5,000.00 in principal borrowed under the Alco September and November Promissory Notes, the Sponsor agreed to forfeit one share of 7GC Class B Common Stock held by the Sponsor, in exchange for the right of Alco to receive one New Banzai Class A Share. For each $5,000.00 in principal borrowed under the December Note, the Sponsor agreed to forfeit three shares of 7GC Class B Common Stock held by the Sponsor, in exchange for the right of Alco to receive three New Banzai Class A Shares. Such forfeited and issued shares under the Alco September, November, and December Promissory Notes are capped at an amount equal to 300,150, and 1,200, respectively.</span> Pursuant to the Alco Share Transfer Agreements, the shares are subject to an <span id="xdx_907_ecustom--LockUpPeriod_c20231213__20231213__us-gaap--LongtermDebtTypeAxis__custom--AlcoNovemberPromissoryNoteMember__custom--ComponentsAxis__custom--AlcoShareTransferAgreementsMember__dei--LegalEntityAxis__custom--SevenGcCoHoldingsIncMember_zxecRpY81MI9" title="Lock-up period">180</span>-day lock-up period upon issuance of the shares.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the Alco Share Transfer Agreements, the Company considered the guidance under ASC 815, Derivatives and Hedging, and determined that the Investor Shares underlying each of the Share Transfer Agreements described above, met the definition of a freestanding financial instrument and are not precluded from being considered indexed to the Company’s common stock. The Company determined that these shares represent a freestanding equity contract issued to the lender, resulting in a discount recorded on the notes when they are issued.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Equity-classified contracts are initially measured at fair value (or allocated value). Subsequent changes in fair value are not recognized if the contracts continue to be classified in equity. The measurement of fair value was determined utilizing various put option models in estimating the discount lack of marketability (the “DLOM”) applied to the public share price as the shares underlying each of the Share Transfer Agreements are subject to a lock-up period pursuant to each agreement, to estimate the fair value of the shares transferred. Option pricing models assume that the cost to purchase a stock option relates directly to the measurement of the DLOM. The logic behind these models is that investors may be able to quantify this price risk, due to lack of marketability, over a particular holding period where price volatility is usually estimated as a proxy for risk. The inputs and assumptions utilized in the fair value estimation included the Company’s stock price on the measurement date, a DLOM as described above, the number of shares pursuant to each Share Transfer Agreement, and a probability weighted factor for the Company’s expected percentage of completing its Business Combination, at each Share Transfer Agreement date.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the Alco September Promissory Note, of which $<span id="xdx_905_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_c20230913__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountForLackOfMarketabilityMember__us-gaap--OptionIndexedToIssuersEquityTypeAxis__us-gaap--PutOptionMember_ziVAtqdsb38f" title="Maximum borrowing capacity">1,000,000</span> was drawn on September 13, 2023, the DLOM was estimated using the put option models described above and the following assumptions: a holding period for the shares of 272 days (approximately <span id="xdx_907_ecustom--HoldingPeriodForShares_dtY_c20230913__20230913__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountForLackOfMarketabilityMember__us-gaap--OptionIndexedToIssuersEquityTypeAxis__us-gaap--PutOptionMember_zZYgVtbDr3D9" title="Holding period for shares">0.77</span> years) measured from the date of issuance of the $<span id="xdx_90B_eus-gaap--ProceedsFromIssuanceOfDebt_c20230913__20230913__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountForLackOfMarketabilityMember__us-gaap--OptionIndexedToIssuersEquityTypeAxis__us-gaap--PutOptionMember_zPdByjuKIX53" title="Proceeds from Issuance of Debt">1,000,000</span> of proceeds under the September Note through the issuance of the shares under the Alco October Share Transfer Agreement on December 14, 2023 at which time the <span id="xdx_902_ecustom--LockUpPeriod_dtD_c20230913__20230913__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountForLackOfMarketabilityMember__us-gaap--OptionIndexedToIssuersEquityTypeAxis__us-gaap--PutOptionMember_zdGrUabwnYIf" title="Lock-up period">180</span>-day lock-up period commenced; a re-levered equity volatility estimated using guideline public companies of <span id="xdx_908_ecustom--EstimatedReLeveredEquityVolatilityRate_dp_uPure_c20230913__20230913__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountForLackOfMarketabilityMember__us-gaap--OptionIndexedToIssuersEquityTypeAxis__us-gaap--PutOptionMember_z40qXYyCmEk" title="Estimated re-levered equity volatility rate">54.0</span>%; and a risk-free rate commensurate with the term of <span id="xdx_904_ecustom--CommensurateRiskFreeRate_dp_uPure_c20230913__20230913__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountForLackOfMarketabilityMember__us-gaap--OptionIndexedToIssuersEquityTypeAxis__us-gaap--PutOptionMember_zoRHObHVSdJa" title="Commensurate risk-free rate">5.3</span>%. The put option models provided a DLOM range of <span id="xdx_90E_ecustom--PercentageOfDiscountLackOfMarketability_dp_uPure_c20230913__20230913__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountForLackOfMarketabilityMember__us-gaap--OptionIndexedToIssuersEquityTypeAxis__us-gaap--PutOptionMember__srt--RangeAxis__srt--MinimumMember_zmVNT89HHaXl" title="Percentage of discount lack of marketability">10.7</span>% to <span id="xdx_906_ecustom--PercentageOfDiscountLackOfMarketability_dp_uPure_c20230913__20230913__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountForLackOfMarketabilityMember__us-gaap--OptionIndexedToIssuersEquityTypeAxis__us-gaap--PutOptionMember__srt--RangeAxis__srt--MaximumMember_zTjWSnhgwmNe" title="Percentage of discount lack of marketability">16.0</span>% and the concluded DLOM was estimated to be <span id="xdx_90D_ecustom--PercentageOfDiscountLackOfMarketability_dp_uPure_c20230913__20230913__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember__srt--RangeAxis__srt--WeightedAverageMember_zZDCgEPRILt4" title="Percentage of discount lack of marketability">12.5</span>%. The Company’s expected percentage of completing the Merger on this date was <span id="xdx_908_ecustom--ExpectedPercentageOfCompletingTheMerger_dp_uPure_c20230913__20230913__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember__us-gaap--OptionIndexedToIssuersEquityTypeAxis__us-gaap--PutOptionMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountForLackOfMarketabilityMember_zM2FK8gQ6eag" title="Expected percentage of completing the Merger">80</span>%.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the remaining $<span id="xdx_904_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_c20231003__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountForLackOfMarketabilityMember__us-gaap--OptionIndexedToIssuersEquityTypeAxis__us-gaap--PutOptionMember_zdkp7P3ooY0l" title="Maximum borrowing capacity">500,000</span> drawn on the Alco September Promissory Note on October 3, 2023, the DLOM was estimated using the put option models described above and the following assumptions: a holding period for the shares of 252 days (approximately <span id="xdx_900_ecustom--HoldingPeriodForShares_dtY_c20231003__20231003__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountForLackOfMarketabilityMember__us-gaap--OptionIndexedToIssuersEquityTypeAxis__us-gaap--PutOptionMember_zj2lhySW4KIh" title="Holding period for shares">0.72</span> years) measured from the date of issuance of the remaining $<span id="xdx_900_eus-gaap--ProceedsFromIssuanceOfDebt_c20231003__20231003__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountForLackOfMarketabilityMember__us-gaap--OptionIndexedToIssuersEquityTypeAxis__us-gaap--PutOptionMember_zpec5BNQkXt8" title="Proceeds from Issuance of Debt">500,000</span> of proceeds under the September Note through the issuance of the shares under the Alco October Share Transfer Agreement on December 14, 2023 at which time the <span id="xdx_90E_ecustom--LockUpPeriod_dtD_c20231003__20231003__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountForLackOfMarketabilityMember__us-gaap--OptionIndexedToIssuersEquityTypeAxis__us-gaap--PutOptionMember_zCSVNMd7eLch" title="Lock-up period">180</span>-day lock-up period commenced; a re-levered equity volatility estimated using guideline public companies of <span id="xdx_904_ecustom--EstimatedReLeveredEquityVolatilityRate_dp_uPure_c20231003__20231003__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountForLackOfMarketabilityMember__us-gaap--OptionIndexedToIssuersEquityTypeAxis__us-gaap--PutOptionMember_zzfxhzGRNOv4" title="Estimated re-levered equity volatility rate">52.0</span>%; and a risk-free rate commensurate with the term of <span id="xdx_90C_ecustom--CommensurateRiskFreeRate_dp_uPure_c20231003__20231003__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountForLackOfMarketabilityMember__us-gaap--OptionIndexedToIssuersEquityTypeAxis__us-gaap--PutOptionMember_zxzaCbuyiRse" title="Commensurate risk-free rate">5.4</span>%. The put option models provided a DLOM range of <span id="xdx_90C_ecustom--PercentageOfDiscountLackOfMarketability_dp_uPure_c20231003__20231003__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountForLackOfMarketabilityMember__us-gaap--OptionIndexedToIssuersEquityTypeAxis__us-gaap--PutOptionMember__srt--RangeAxis__srt--MinimumMember_z2Hbyfar4sJc" title="Percentage of discount lack of marketability">10.0</span>% to <span id="xdx_909_ecustom--PercentageOfDiscountLackOfMarketability_dp_uPure_c20231003__20231003__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountForLackOfMarketabilityMember__us-gaap--OptionIndexedToIssuersEquityTypeAxis__us-gaap--PutOptionMember__srt--RangeAxis__srt--MaximumMember_zoa6NBjR8ug4" title="Percentage of discount lack of marketability">15.0</span>% and the concluded DLOM was estimated to be <span id="xdx_908_ecustom--PercentageOfDiscountLackOfMarketability_dp_uPure_c20231003__20231003__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember__srt--RangeAxis__srt--WeightedAverageMember_zIO3YkWfbBJ8" title="Percentage of discount lack of marketability">11.5</span>%. The Company’s expected percentage of completing the Merger on this date was <span id="xdx_90A_ecustom--ExpectedPercentageOfCompletingTheMerger_dp_uPure_c20231003__20231003__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember__us-gaap--OptionIndexedToIssuersEquityTypeAxis__us-gaap--PutOptionMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountForLackOfMarketabilityMember_zo11FvnbUY57" title="Expected percentage of completing the Merger">80</span>%.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the Alco November Promissory Note, the DLOM was estimated using the put option models described above and the following assumptions: a holding period for the shares of 208 days (approximately <span id="xdx_909_ecustom--HoldingPeriodForShares_dtY_c20231116__20231116__us-gaap--LongtermDebtTypeAxis__custom--AlcoNovemberPromissoryNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountForLackOfMarketabilityMember__us-gaap--OptionIndexedToIssuersEquityTypeAxis__us-gaap--PutOptionMember_zjk9yBkEG3id" title="Holding period for shares">0.60</span> years) measured from the issuance date of the November Note through the issuance of the shares under the November 2023 Share Transfer Agreement on December 14, 2023 at which time the <span id="xdx_903_ecustom--LockUpPeriod_dtD_c20231116__20231116__us-gaap--LongtermDebtTypeAxis__custom--AlcoNovemberPromissoryNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountForLackOfMarketabilityMember__us-gaap--OptionIndexedToIssuersEquityTypeAxis__us-gaap--PutOptionMember_zysnZG5yH3ta" title="Lock-up period">180</span>-day lock-up period commenced; a re-levered equity volatility estimated using guideline public companies of <span id="xdx_901_ecustom--EstimatedReLeveredEquityVolatilityRate_dp_uPure_c20231116__20231116__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountForLackOfMarketabilityMember__us-gaap--OptionIndexedToIssuersEquityTypeAxis__us-gaap--PutOptionMember_zhywooDS3ksb" title="Estimated re-levered equity volatility rate">54.0</span>%; and a risk-free rate commensurate with the term of <span id="xdx_90E_ecustom--CommensurateRiskFreeRate_dp_uPure_c20231116__20231116__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountForLackOfMarketabilityMember__us-gaap--OptionIndexedToIssuersEquityTypeAxis__us-gaap--PutOptionMember_zlXDZ4BtdgR6" title="Commensurate risk-free rate">5.2</span>%. The put option models provided a DLOM range of <span id="xdx_90B_ecustom--PercentageOfDiscountLackOfMarketability_dp_uPure_c20231106__20231106__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountForLackOfMarketabilityMember__us-gaap--OptionIndexedToIssuersEquityTypeAxis__us-gaap--PutOptionMember__srt--RangeAxis__srt--MinimumMember_z1ooo9MADm0l" title="Percentage of discount lack of marketability">9.5</span>% to <span id="xdx_908_ecustom--PercentageOfDiscountLackOfMarketability_dp_uPure_c20231106__20231106__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountForLackOfMarketabilityMember__us-gaap--OptionIndexedToIssuersEquityTypeAxis__us-gaap--PutOptionMember__srt--RangeAxis__srt--MaximumMember_z6cUOlq06LZk" title="Percentage of discount lack of marketability">15.0</span>% and the concluded DLOM was estimated to be <span id="xdx_902_ecustom--PercentageOfDiscountLackOfMarketability_dp_uPure_c20231106__20231106__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember__srt--RangeAxis__srt--WeightedAverageMember_zZRadgnFjJUg" title="Percentage of discount lack of marketability">11.5</span>%. The Company’s expected percentage of completing the Merger on this date was <span id="xdx_90A_ecustom--ExpectedPercentageOfCompletingTheMerger_dp_uPure_c20231106__20231106__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember__us-gaap--OptionIndexedToIssuersEquityTypeAxis__us-gaap--PutOptionMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountForLackOfMarketabilityMember_z7y7RnCzdST5" title="Expected percentage of completing the Merger">100</span>%.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the Alco December Promissory Note, the DLOM was estimated using the put option models described above and the following assumptions: a holding period for the shares of 180 days (approximately <span id="xdx_901_ecustom--HoldingPeriodForShares_dtY_c20231213__20231213__us-gaap--LongtermDebtTypeAxis__custom--AlcoDecemberPromissoryNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountForLackOfMarketabilityMember__us-gaap--OptionIndexedToIssuersEquityTypeAxis__us-gaap--PutOptionMember_zRCDSSxaWeuk" title="Holding period for shares">0.49</span> years) measured from the issuance date of the December Note through the issuance of the shares under the December 2023 Share Transfer Agreement on December 14, 2023 at which time the <span id="xdx_907_ecustom--LockUpPeriod_dtD_c20231213__20231213__us-gaap--LongtermDebtTypeAxis__custom--AlcoDecemberPromissoryNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountForLackOfMarketabilityMember__us-gaap--OptionIndexedToIssuersEquityTypeAxis__us-gaap--PutOptionMember_z2XLtUkhNR1f" title="Lock-up period">180</span>-day lock-up period commenced; a re-levered equity volatility estimated using guideline public companies of <span id="xdx_900_ecustom--EstimatedReLeveredEquityVolatilityRate_dp_uPure_c20231213__20231213__us-gaap--LongtermDebtTypeAxis__custom--AlcoDecemberPromissoryNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountForLackOfMarketabilityMember__us-gaap--OptionIndexedToIssuersEquityTypeAxis__us-gaap--PutOptionMember_znttjLcG9VFi" title="Estimated re-levered equity volatility rate">47.0</span>%; and a risk-free rate commensurate with the term of <span id="xdx_90A_ecustom--CommensurateRiskFreeRate_dp_uPure_c20231213__20231213__us-gaap--LongtermDebtTypeAxis__custom--AlcoDecemberPromissoryNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountForLackOfMarketabilityMember__us-gaap--OptionIndexedToIssuersEquityTypeAxis__us-gaap--PutOptionMember_z7Wrtb6gLeZh" title="Commensurate risk-free rate">5.2</span>%. The put option models provided a DLOM range of <span id="xdx_90F_ecustom--PercentageOfDiscountLackOfMarketability_dp_uPure_c20231213__20231213__us-gaap--LongtermDebtTypeAxis__custom--AlcoDecemberPromissoryNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountForLackOfMarketabilityMember__us-gaap--OptionIndexedToIssuersEquityTypeAxis__us-gaap--PutOptionMember__srt--RangeAxis__srt--MinimumMember_zMwhRV4WB1z1" title="Percentage of discount lack of marketability">7.5</span>% to <span id="xdx_907_ecustom--PercentageOfDiscountLackOfMarketability_dp_uPure_c20231213__20231213__us-gaap--LongtermDebtTypeAxis__custom--AlcoDecemberPromissoryNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountForLackOfMarketabilityMember__us-gaap--OptionIndexedToIssuersEquityTypeAxis__us-gaap--PutOptionMember__srt--RangeAxis__srt--MaximumMember_zv5nC3eKlgQd" title="Percentage of discount lack of marketability">12.0</span>% and the concluded DLOM was estimated to be <span id="xdx_907_ecustom--PercentageOfDiscountLackOfMarketability_dp_uPure_c20231213__20231213__us-gaap--LongtermDebtTypeAxis__custom--AlcoDecemberPromissoryNoteMember__srt--RangeAxis__srt--WeightedAverageMember_zieGNrhDKqMc" title="Percentage of discount lack of marketability">9.0</span>%. The Company’s expected percentage of completing its Business Combination on this date was <span id="xdx_907_ecustom--ExpectedPercentageOfCompletingTheMerger_dp_uPure_c20231213__20231213__us-gaap--LongtermDebtTypeAxis__custom--AlcoDecemberPromissoryNoteMember__us-gaap--OptionIndexedToIssuersEquityTypeAxis__us-gaap--PutOptionMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountForLackOfMarketabilityMember_zq7ib2kv9kwj" title="Expected percentage of completing the Merger">100</span>%.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>April 2024 and May 2024 Amendment</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On April 18, 2024, the Company amended the Alco August Promissory Note and Alco November Promissory Note to extend the maturity dates of each note to <span id="xdx_903_eus-gaap--DebtInstrumentMaturityDateRangeEnd1_dd_c20240418__20240418__us-gaap--LongtermDebtTypeAxis__custom--AlcoAprilTwoThousandTwentyFourAmendmentMember_zp8k1jtWzPL6" title="Debt instrument, maturity date range, end">May 31, 2024</span> (the “Alco April 2024 Amendment”). On May 30, 2024, both parties agreed to again amend the Alco August Promissory Note and Alco November Promissory Note to further amend the maturity date to the earlier of (a) August 29, 2024 or (b) the closing of the next transaction (an “Offering”) in which the Company sells any of its Common Stock for cash with net proceeds of $<span id="xdx_902_eus-gaap--ProceedsFromIssuanceOfCommonStock_c20240418__20240418__us-gaap--LongtermDebtTypeAxis__custom--AlcoAprilTwoThousandTwentyFourAmendmentMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember_ztqISAXAICCk" title="Proceeds from issuance of common stock">4,000,000</span> or greater or if the holder acquires Common Stock in an amount not less than the then outstanding balance of the Alco August Promissory Note and Alco November Promissory Note (the “Alco May 2024 Amendment”). The Company evaluated the terms of both the Alco April 2024 Amendment and Alco May 2024 Amendment (the “Alco 2024 Amendments”) in accordance with ASC 470-60, Troubled Debt Restructurings, and ASC 470-50, Debt Modifications and Extinguishments. The Company determined that the Company was granted a concession by the lender based on the decrease of the effective borrowing rate on the Alco 2024 Amendments. Accordingly, the Company accounted for the Alco 2024 Amendments as troubled debt restructurings by calculating a new effective interest rate for the Alco 2024 Amendments based on the carrying amount of the debt and the present value of the revised future cash flows payment streams. The troubled debt restructurings did not result in recognition of a gain or loss in the consolidated statement of operations but does impact interest expense recognized in the future.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>September 2024 Alco Promissory Note Conversion and Settlement</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 19, 2024, the Company and Alco agreed to convert an aggregate balance of $<span id="xdx_908_eus-gaap--LoansPayableCurrent_iI_c20240919__us-gaap--LongtermDebtTypeAxis__custom--AlcoAprilTwoThousandTwentyFourAmendmentMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlcoMember__custom--AgreementAxis__custom--ConversionAndSettlementMember_zumpUCI065R6" title="Loans payable current">4,711,681</span> of debt inclusive of principal and accrued interest, representing the aggregate total balance outstanding to Alco as of that date (excluding the carrying value of debt discounts), into <span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20240919__20240919__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember__custom--AgreementAxis__custom--ConversionAndSettlementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zOi6ySLCDFe4" title="Share issued">28,242</span> shares of Class A Common Stock, Warrants to purchase up to <span id="xdx_90D_ecustom--WarrantsIssued_c20240919__20240919__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember__custom--AgreementAxis__custom--ConversionAndSettlementMember__srt--RangeAxis__srt--MaximumMember_zOO2Vaevj2G7" title="Warrants issued">133,134</span> shares of Class A Common Stock and Pre-Funded Warrants to purchase up to <span id="xdx_90B_ecustom--WarrantsIssued_c20240919__20240919__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember__custom--AgreementAxis__custom--ConversionAndSettlementMember__srt--RangeAxis__srt--MaximumMember__us-gaap--ClassOfWarrantOrRightAxis__custom--PreFundedWarrantMember_zIRSpogHKvtg" title="Warrants issued">104,892</span> shares of Class A Common Stock (collectively, the “Alco Securities”), and in full settlement of the balance outstanding to Alco. The Company recognized the issuance of the Alco Securities, on September 19, 2024, in full settlement of all amounts owing to Alco. The grant date fair value of the Class A Common Stock, Warrants to purchase shares of Class A Common Stock and Pre-Funded Warrants to purchase shares of Class A Common Stock, were determined to be $<span id="xdx_903_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20240919__20240919__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember__custom--AgreementAxis__custom--ConversionAndSettlementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zDOLjC7gKLyb" title="Shares issued">1,098,614</span>, $<span id="xdx_903_ecustom--WarrantsIssuanceGrantDateFairValue_c20240919__20240919__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember__custom--AgreementAxis__custom--ConversionAndSettlementMember_zlaKS03eEoAj" title="Grant date fair value of warrants issued">3,687,812</span>, and $<span id="xdx_90B_ecustom--WarrantsIssuanceGrantDateFairValue_c20240919__20240919__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember__custom--AgreementAxis__custom--ConversionAndSettlementMember__us-gaap--ClassOfWarrantOrRightAxis__custom--PreFundedWarrantMember_zyNkqocskstk" title="Grant date fair value of warrants issued">4,080,194</span>, respectively. As a result of this transaction, the Company recognized a loss on extinguishment of $<span id="xdx_907_eus-gaap--GainsLossesOnExtinguishmentOfDebt_c20240923__20240923__us-gaap--LongtermDebtTypeAxis__custom--AlcoSeptemberPromissoryNoteMember__custom--AgreementAxis__custom--ConversionAndSettlementMember_zaRuwzPWzZAd" title="Loss on extinguishment of debt">4,808,882</span>, as of September 23, 2024, which was recognized as loss on conversion and settlement of Alco promissory notes per the condensed consolidated statement of operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Promissory Notes - 7GC</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company assumed <span id="xdx_904_ecustom--NumberOfPromissoryNotesInConnectionWithMerger_iI_uInteger_c20231231_zmrGLIIIWFE8" style="display: none" title="Number of promissory notes In connection with merger">2</span> two promissory notes in connection with the Merger which remained outstanding as of December 31, 2023. On February 9, 2024, the $<span id="xdx_90A_eus-gaap--LoansPayableCurrent_iI_c20231231__us-gaap--LongtermDebtTypeAxis__custom--SevenGCPromissoryNotesMember_zUTdeIITpXAi" title="Loans payable current">2,540,091</span> balance was converted into <span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20240209__20240209__srt--TitleOfIndividualAxis__custom--SponsorMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__custom--AgreementAxis__custom--ConversionOf7GcPromissoryNotesMember_zQGy0HSDBJP3" title="Share issued">1,781</span> shares the Company’s Class A Common Stock pursuant to the terms in the 7GC Promissory Notes.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Promissory Note - GEM</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 14, 2023, the Company and GEM Global Yield LLC SCS and GEM Yield Bahamas Limited (collectively, “GEM”) agreed to terminate in its entirety the GEM Agreement, pursuant to which GEM was to purchase from the Company shares of common stock having an aggregate value up to $<span id="xdx_906_eus-gaap--CommonStockValue_iI_c20231214__srt--RangeAxis__srt--MaximumMember__us-gaap--BusinessAcquisitionAxis__custom--GemAgreementMember__us-gaap--TypeOfArrangementAxis__custom--SharePurchaseAgreementMember_ztaRqOfWGpw4" title="Common stock, value">100,000,000</span> and the Company was required to make and execute a warrant (“GEM Warrant”). The Company’s obligation to issue the GEM Warrant remained, granting GEM the right to purchase Class A Common Stock in an amount equal to <span id="xdx_902_ecustom--PercentageOfRightToConvertWarrantToCommonShares_iI_dp_uPure_c20231214__us-gaap--BusinessAcquisitionAxis__custom--GemAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--StatementEquityComponentsAxis__custom--GemWarrantMember__us-gaap--TypeOfArrangementAxis__custom--GemTermSheetMember_zzJ3s5fZawJk" title="Percentage of right to convert warrant to common shares">3</span>% of the total number of equity interests outstanding as of the Closing, calculated on a fully diluted basis, at an exercise price on the terms and conditions set forth therein, in exchange for issuance of a $<span id="xdx_90A_eus-gaap--ConvertibleDebt_iI_pn5n6_c20231214__us-gaap--BusinessAcquisitionAxis__custom--GemAgreementMember__us-gaap--TypeOfArrangementAxis__custom--GemTermSheetMember_zfLBjzTusi5f" title="Convertible Debt">2.0</span> million convertible debenture with a <span id="xdx_904_eus-gaap--DebtInstrumentTerm_dtY_c20231214__20231214__us-gaap--BusinessAcquisitionAxis__custom--GemAgreementMember__us-gaap--TypeOfArrangementAxis__custom--GemTermSheetMember_zrcQK1vIENhc" style="display: none" title="Debt Instrument, Term">5</span> five-year maturity and <span id="xdx_909_ecustom--CouponRate_iI_dp_uPure_c20231214__us-gaap--BusinessAcquisitionAxis__custom--GemAgreementMember__us-gaap--TypeOfArrangementAxis__custom--GemTermSheetMember_zaFXsDwILbv3" title="Percentage of right to convert warrant to common shares">0</span>% coupon. Due to the determination of the final terms of the planned $<span id="xdx_904_eus-gaap--ConvertibleDebt_iI_pn5n6_c20231214__us-gaap--BusinessAcquisitionAxis__custom--GemAgreementMember__us-gaap--TypeOfArrangementAxis__custom--GemTermSheetMember_zIj5nx4tkHgh" title="Convertible Debt">2.0</span> million convertible debenture having not been finalized, nor the final agreement related to the convertible debenture having been executed, as of December 31, 2023, the Company recognized, concurrent with the close of the merger, a liability for the GEM commitment fee, along with a corresponding GEM commitment fee expense, in the amount of $<span id="xdx_905_eus-gaap--DebtInstrumentFeeAmount_iI_pn5n6_c20231231__us-gaap--BusinessAcquisitionAxis__custom--GemAgreementMember__us-gaap--TypeOfArrangementAxis__custom--GemTermSheetMember_zrZbWbOM0W53" title="Commitment fee expense">2.0</span> million.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On February 5, 2024, the Company and GEM entered into a settlement agreement (the “GEM Settlement Agreement”), pursuant to which (a) the Company and GEM agreed to (i) settle the Company’s obligations under and terminate the binding term sheet entered into between Legacy Banzai and GEM, dated December 13, 2023, and (ii) terminate the share repurchase agreement, dated May 27, 2022, by and among the Company and GEM, and (b) the Company (i) agreed to pay GEM $<span id="xdx_90F_ecustom--DebtInstrumentCashAgreedToPay_pn5n6_c20240205__20240205__us-gaap--BusinessAcquisitionAxis__custom--GemAgreementMember_zBFMSXzWLukc" title="Cash agreed to pay">1.2</span> million in cash within three business days of the GEM Settlement Agreement and (ii) issued to GEM, on February 5, 2024, an unsecured promissory zero coupon note in the amount of $<span id="xdx_900_eus-gaap--DebtInstrumentFaceAmount_iI_pn5n6_c20240205__us-gaap--BusinessAcquisitionAxis__custom--GemAgreementMember_zRmK3qk0eBxj" title="principal amount">1.0</span> million, payable in monthly installments of $<span id="xdx_900_eus-gaap--DebtInstrumentPeriodicPayment_c20240205__20240205__us-gaap--BusinessAcquisitionAxis__custom--GemAgreementMember_zpqG57O2JHv" title="Monthly installments">100,000</span> beginning on March 1, 2024, with the final payment to be made on December 1, 2024 (the “GEM Promissory Note”). The Company paid GEM the $<span id="xdx_90F_eus-gaap--RepaymentsOfLongTermDebt_pn5n6_c20240205__20240205__us-gaap--BusinessAcquisitionAxis__custom--GemAgreementMember_zoU6fpaSpdge" title="Payment of debt">1.2</span> million in cash in February 2024.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The GEM Promissory Note provides that, in the event the Company fails to make a required monthly payment when due, the Company shall issue to GEM a number of shares of Class A Common Stock equal to the monthly payment amount divided by the VWAP of the Class A Common Stock for the trading day immediately preceding the applicable payment due date. In addition, the Company agreed to register on a registration statement <span id="xdx_907_ecustom--SharesIssuableUnderPromissoryNote_c20240205__20240205__us-gaap--BusinessAcquisitionAxis__custom--GemAgreementMember_zHIra9AB56d7" title="Shares issuable under the terms of promissory note">4,000</span> shares of Class A Common Stock that may be issuable under the terms of the GEM Promissory Note. The GEM Promissory Note contains customary events of default. If an event of default occurs, GEM may, at its option, demand from the Company immediate payment of any outstanding balance under the GEM Promissory Note.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of December 31, 2024, the Company has issued an aggregate of <span id="xdx_90F_ecustom--SharesIssuedUnderPromissoryNote_c20240101__20241231__us-gaap--BusinessAcquisitionAxis__custom--GemAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z7IYptZlC41" title="Shares issued under the terms of promissory note">19,000</span> shares of Class A Common Stock to GEM in lieu of monthly payment obligations and the remaining balance of the GEM Promissory Note as of December 31, 2024 is $<span id="xdx_905_eus-gaap--ConvertibleDebt_iI_c20241231__us-gaap--BusinessAcquisitionAxis__custom--GemAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zk4irykjKlMe" title="Convertible Debt">215,057</span> recorded in the convertible notes line on the consolidated balance sheet. The Company notes the GEM Promissory Note is in default as the Company failed to make the required payments under the agreement. The remaining balance of $<span id="xdx_900_eus-gaap--ConvertibleDebt_iI_c20241231__us-gaap--BusinessAcquisitionAxis__custom--GemAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zG1kAtHCJ6O" title="Convertible Debt">215,057</span> outstanding as of December 31, 2024 was settled in cash during Q1 2025 and there is <span id="xdx_904_eus-gaap--ConvertibleDebt_iI_do_c20250331__us-gaap--BusinessAcquisitionAxis__custom--GemAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zSHMMC1PG5Pf" title="Convertible Debt">no</span> outstanding balance as of March 31, 2025.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Convertible Promissory Notes (Yorkville)</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 14, 2023, in connection with and pursuant to the terms of its Standby Equity Purchase Agreement (“SEPA”) with YA II PN, LTD, a Cayman Islands exempt limited partnership managed by Yorkville Advisors Global, LP (“Yorkville”), (refer to <i>Note 18 - Equity</i> for further details), Yorkville agreed to advance to the Company, in exchange for convertible promissory notes, an aggregate principal amount of up to $<span id="xdx_90A_eus-gaap--DebtInstrumentFaceAmount_iI_c20231214_zK7QNGagkxVe" title="Debt Instrument, Face Amount">3,500,000</span>, $<span id="xdx_907_eus-gaap--DebtInstrumentFaceAmount_iI_c20231214__custom--ComponentsAxis__custom--StandbyEquityPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--YorkvilleConvertibleNoteMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember_zLqqWx9x9fl3" title="Debt Instrument, Face Amount">2,000,000</span> of which was funded at the Closing in exchange for the issuance by the Company of a Convertible Promissory Note (the “December Yorkville Convertible Note”). The Company received net proceeds of $<span id="xdx_90F_eus-gaap--ProceedsFromIssuanceOfDebt_c20231214__20231214__custom--ComponentsAxis__custom--StandbyEquityPurchaseAgreementMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember_zsHsI48OWTqj" title="Debt Instrument, Face Amount">1,800,000</span> after a non-cash original issue discount of $<span id="xdx_908_eus-gaap--AmortizationOfDebtDiscountPremium_c20231214__20231214__custom--ComponentsAxis__custom--StandbyEquityPurchaseAgreementMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember_zYfWxKUECzki" title="Debt discount upon issuance">200,000</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On February 5, 2024, the Company and Yorkville entered into a supplemental agreement (the “SEPA Supplemental Agreement”) to increase the amount of convertible promissory notes allowed to be issued under SEPA by $<span id="xdx_909_ecustom--IncreasedPrincipalAmountAgreedToAdvance_iI_c20240205__custom--AgreementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_zusLByvYypR" title="Increased principal amount agreed to advance">1,000,000</span> (the “Additional Pre-Paid Advance Amount”), for an aggregate principal amount of $<span id="xdx_901_ecustom--AggregatePrincipalAmount_iI_c20240205__custom--AgreementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_zoWXFERHCxm6" title="Aggregate principal amount">4,500,000</span> to be advanced by Yorkville to the Company in the form of convertible promissory notes. On February 5, 2024 in exchange for a promissory note in the principal amount of $<span id="xdx_902_eus-gaap--DebtInstrumentFaceAmount_iI_c20240205__custom--AgreementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_zm3FaFp7VYS6" title="Debt Instrument, Face Amount">1,000,000</span> (the “February Yorkville Promissory Note”), with the same terms as the December Yorkville Convertible Note, the Company received net proceeds of $<span id="xdx_90F_eus-gaap--ProceedsFromIssuanceOfDebt_c20240205__20240205__custom--AgreementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_zJkeIJSkFtGc" title="Proceeds from Issuance of Debt">900,000 </span>after an original issue discount of $<span id="xdx_90F_eus-gaap--AmortizationOfDebtDiscountPremium_c20240205__20240205__custom--AgreementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_zR9kFPgihK4a" title="Debt discount upon issuance">100,000</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On March 26, 2024, the Company, in exchange for a convertible promissory note with a principal amount of $<span id="xdx_906_eus-gaap--DebtInstrumentFaceAmount_iI_c20240326__custom--AgreementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_zcDvmQwcvRv5" title="Debt Instrument, Face Amount">1,500,000</span> (the “March Yorkville Promissory Note” and, together with the December Yorkville Convertible Note and February Yorkville Promissory Note the” Yorkville Promissory Notes”), received net proceeds of $<span id="xdx_90B_eus-gaap--ProceedsFromIssuanceOfDebt_c20240326__20240326__custom--AgreementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_zdcqcrijfiQ8" title="Proceeds from Issuance of Debt">1,250,000</span> after an original issue discount of $<span id="xdx_90A_eus-gaap--AmortizationOfDebtDiscountPremium_c20240326__20240326__custom--AgreementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_zrMfGcA7YGu2" title="Debt discount upon issuance">250,000</span> from Yorkville.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On May 3, 2024, the Company and Yorkville entered into a Debt Repayment Agreement (the “Original Debt Repayment Agreement”) with respect to the Yorkville Promissory Notes. Under the Original Debt Repayment Agreement, Yorkville agreed that, upon completion of a Company registered offering and repayment of an aggregate $<span id="xdx_903_eus-gaap--DebtInstrumentFaceAmount_iI_c20240503__us-gaap--TypeOfArrangementAxis__custom--OriginalDebtRepaymentAgreementMember_zXpTGSU4fICh" title="Debt Instrument, Face Amount">2,000,000</span> outstanding under the Yorkville Promissory Notes (the “Original Repayment Amount”), Yorkville would not deliver to the Company any Investor Notice (as defined in the SEPA) and would not exercise its right to convert the remainder of the amount outstanding under the Promissory Notes for a period commencing on the date of the closing of the offering and ending on the date that is 90 days thereafter. Under the Original Debt Repayment Agreement, the Company and Yorkville also agreed to extend the maturity date of the Promissory Notes to the date that is 120 days after the closing of the offering and to satisfy the $<span id="xdx_909_eus-gaap--RepaymentsOfDebt_c20240503__20240503__us-gaap--TypeOfArrangementAxis__custom--OriginalDebtRepaymentAgreementMember_zlYWGUqqONuc" title="Premium payment">200,000</span> payment premium due in connection with an early redemption through the issuance of an Advance Notice (as defined in the SEPA) for shares of the Company’s Class A common stock, par value $<span id="xdx_90D_eus-gaap--CommonStockParOrStatedValuePerShare_iI_pid_c20240503__us-gaap--TypeOfArrangementAxis__custom--OriginalDebtRepaymentAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zgh3EEZhUqnj" title="Common stock, par value">0.0001</span> per share. The Debt Repayment Agreement was conditioned on the completion of the offering by June 2, 2024.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On May 22, 2024, the Company and Yorkville entered into an Amended and Restated Debt Repayment Agreement (the “Amended Debt Repayment Agreement”) with respect to the Yorkville Promissory Notes, which amends and restates the Original Debt Repayment Agreement. Under the Amended Debt Repayment Agreement, Yorkville has agreed that, upon completion of a registered offering and repayment of an aggregate $<span id="xdx_901_eus-gaap--DebtInstrumentFaceAmount_iI_c20240522__us-gaap--TypeOfArrangementAxis__custom--AmendedDebtRepaymentAgreementMember_z92tWouqitYl" title="Debt Instrument, Face Amount">750,000</span> outstanding under the Yorkville Promissory Notes (the “Amended Repayment Amount”), Yorkville will not deliver to the Company any Investor Notice (as defined in the SEPA) and will not exercise its right to convert the remainder of the amount outstanding under the Promissory Notes for a period commencing on the date of the closing of the offering and ending on the date that is 90 days thereafter (the “Stand-still Period”); provided that the Company will seek any consents necessary to allow Yorkville to issue Investor Notices or exercise its right to convert the remainder of the amount outstanding under the Promissory Notes after a period of 60 days following the closing of the offering. <span id="xdx_90E_eus-gaap--DebtInstrumentMaturityDateDescription_c20240101__20241231__custom--AgreementAxis__custom--AmendedDebtRepaymentAgreementMember_zWNdjsJ3RLg" title="Debt instrument, maturity date, description">Under the Amended Debt Repayment Agreement, the Company and Yorkville also agreed to extend the maturity date of the Promissory Notes to the date that is 120 days after the closing of the offering and to satisfy the $<span id="xdx_906_eus-gaap--RepaymentsOfDebt_c20240522__20240522__us-gaap--TypeOfArrangementAxis__custom--AmendedDebtRepaymentAgreementMember_zUvRGDOBU5Q" title="Premium payment">75,000</span> payment premium due in connection with an early redemption through the issuance of an Advance Notice for shares of Class A Common Stock (the “Q2 Prepayment Premium”).</span> The Amended Debt Repayment Agreement was conditioned on the completion of the offering by May 29, 2024, which condition was satisfied upon the closing of the offering on May 28, 2024 (the “May 2024 Offering”).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the terms of the Amended Repayment Agreement, the Company made a cash principal payment of $<span id="xdx_909_ecustom--AggregatePrincipalAmount_iI_c20240531__us-gaap--TypeOfArrangementAxis__custom--AmendedDebtRepaymentAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z54hHwuqrqc6" title="Aggregate principal amount">750,000</span> on May 31, 2024 (the “Repayment Date”), and issued an Advance Notice for the purchase of <span id="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_c20240522__20240522__us-gaap--TypeOfArrangementAxis__custom--AmendedDebtRepaymentAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--AwardTypeAxis__custom--ReverseStockSplitMember_ztXYvWFk3LJ6" title="Share purchase">1,200</span> shares of Class A Common Stock (the “Premium Advance Shares”) (representing the number of shares the Company reasonably believed would be sufficient to result in net proceeds of $<span id="xdx_90F_eus-gaap--ProceedsFromIssuanceOfDebt_c20240522__20240522__us-gaap--TypeOfArrangementAxis__custom--AmendedDebtRepaymentAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z6KJFFGH75n6" title="Proceeds from Issuance of Debt">75,000</span> as of the Repayment Date) (the “Premium Advance”). The total purchase price for the Premium Advance was $<span id="xdx_90B_eus-gaap--DebtInstrumentUnamortizedPremium_iI_c20240522__us-gaap--TypeOfArrangementAxis__custom--AmendedDebtRepaymentAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zdZpruRbczO4" title="Premium advance">110,040</span>, of which $<span id="xdx_90D_eus-gaap--RepaymentsOfDebt_c20240522__20240522__us-gaap--TypeOfArrangementAxis__custom--AmendedDebtRepaymentAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zOEyJtN6FZra" title="Premium payment">75,000</span> was applied in satisfaction of the Payment Premium, and the remaining $<span id="xdx_908_eus-gaap--ProceedsFromRepaymentsOfDebt_c20240522__20240522__us-gaap--TypeOfArrangementAxis__custom--AmendedDebtRepaymentAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zX4YxrKx9CSc" title="Premium remaining payment">35,040</span> was paid by Yorkville to the Company in cash (the “Cash Surplus”). The Premium Advance Shares were recorded at fair value totaling $<span id="xdx_906_eus-gaap--DebtInstrumentFairValue_iI_c20240522__us-gaap--TypeOfArrangementAxis__custom--AmendedDebtRepaymentAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zQUvlXzRGAu6" title="Premium fair value">115,800</span> on the Repayment Date, and the excess of fair value over the Cash Surplus was recorded to the consolidated statement of operations in line Yorkville prepayment premium expense.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 20, 2024, the Company entered into a Floor Price Reduction Agreement (the “Floor Price Reduction Agreement”) with Yorkville. The Company and Yorkville, pursuant to the Floor Price Adjustment Agreement, agreed to amend and restate the prior repayment agreements such that the outstanding principal under the Amended Debt Repayment Agreement was reduced to $<span id="xdx_901_ecustom--DebtInstrumentReductionAmount_iI_pn5n6_c20240920__us-gaap--TypeOfArrangementAxis__custom--FloorPriceReductionAgreementMember_zT773ovuUkSb" title="Debt instrument reduction amount">0.7</span> million, with <span id="xdx_90D_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dpo_uPure_c20240920__us-gaap--TypeOfArrangementAxis__custom--FloorPriceReductionAgreementMember_z2CMOagOga4h" title="Debt instrument, interest rate">no</span> remaining interest, the floor price, as described in the Outstanding Promissory Notes, was adjusted to $<span id="xdx_900_ecustom--DebtInstrumentAdjustedAmount_iI_pid_c20240920__us-gaap--TypeOfArrangementAxis__custom--FloorPriceReductionAgreementMember_zmt2eT2IL91h" title="Debt instrument adjusted amount">2.00</span>, and the <span id="xdx_908_ecustom--DebtInstrumentExtendedMaturityTerms_pid_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--FloorPriceReductionAgreementMember_zMrxgS5F63Oj" title="Debt instrument extended maturity terms">maturity date for the Outstanding Promissory Notes is extended by 120 days to January 17, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Yorkville Promissory Notes have a maturity date (as modified by the Floor Price Reduction Agreement) of <span id="xdx_908_eus-gaap--DebtInstrumentMaturityDate_dd_c20231214__20231214__us-gaap--TypeOfArrangementAxis__custom--StandbyEquityPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--YorkvilleConvertibleNotesMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember_z0OZiBPxB98a" title="Debt instrument, maturity date">January 17, 2025</span>, and accrue interest at <span id="xdx_909_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20231214__us-gaap--TypeOfArrangementAxis__custom--StandbyEquityPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--YorkvilleConvertibleNotesMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember_zqSClaVocpf5" title="Debt instrument, interest rate">0</span>% per annum, subject to an increase to <span id="xdx_90C_eus-gaap--DebtInstrumentInterestRateIncreaseDecrease_pid_dp_c20231214__20231214__us-gaap--TypeOfArrangementAxis__custom--StandbyEquityPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--YorkvilleConvertibleNotesMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember_z53aNnUAlbF9" title="Debt instrument, increase in interest rate">18</span>% per annum upon events of default as defined in the agreement. As of December 31, 2024, no events of default have occurred.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Yorkville has the right to convert any portion of the outstanding principal into shares of Class A common stock at any time subsequent to the Stand-still Period through maturity. The number of shares issuable upon conversion is equal to the amount of principal to be converted (as specified by Yorkville) divided by the Conversion Price (as defined in the Standby Equity Purchase Agreement disclosure in Note 18). Yorkville will not have the right to convert any portion of the principal to the extent that after giving effect to such conversion, Yorkville would beneficially own in excess of <span id="xdx_909_eus-gaap--DebtConversionConvertedInstrumentRate_pid_dp_c20231214__20231214__us-gaap--TypeOfArrangementAxis__custom--StandbyEquityPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--YorkvilleConvertibleNotesMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember_z0V3dbSqSjh6" title="Conversion rate percentage of common stock outstanding">9.99</span>% of the total number of shares of Class A common stock outstanding after giving effect to such conversion.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Additionally, the Company, at its option, shall have the right, but not the obligation, to redeem early a portion or all amounts outstanding under the Promissory Notes at a redemption amount equal to the outstanding principal balance being repaid or redeemed, plus a <span id="xdx_902_ecustom--PercentageOfPrepaymentPremium_iI_pid_dp_c20231214__us-gaap--TypeOfArrangementAxis__custom--StandbyEquityPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--YorkvilleConvertibleNotesMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember_zKRqpih5Te5k" title="Conversion rate percentage of common stock outstanding">10</span>% prepayment premium, plus all accrued and unpaid interest; provided that (i) the Company provides Yorkville with no less than ten trading days’ prior written notice thereof and (ii) on the date such notice is issued, the VWAP of the Class A common stock is less than the Fixed Price.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Upon the occurrence of certain triggering events, as defined in the Yorkville Promissory Notes agreement (each an “Amortization Event”), the Company may be required to make monthly repayments of amounts outstanding under the Yorkville Promissory Notes, with each monthly repayment to be in an amount equal to the sum of (x) $<span id="xdx_90B_eus-gaap--RepaymentsOfConvertibleDebt_c20240522__20240522__custom--ComponentsAxis__custom--StandbyEquityPurchaseAgreementMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember__us-gaap--DebtInstrumentAxis__custom--YorkvilleConvertibleNotesMember_z3hmZ5iS1cdf" title="Prepayment premium">1,000,000</span>, plus (y) <span id="xdx_908_ecustom--PercentageOfRepaymentOfConvertibleDebtAmount_iI_pid_dp_uPure_c20240522__custom--ComponentsAxis__custom--StandbyEquityPurchaseAgreementMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember__us-gaap--DebtInstrumentAxis__custom--YorkvilleConvertibleNotesMember_zglom3V0K6b6" title="Percentage of repayment of convertible debt, amount">10</span>% in respect of such amount, and (z) all outstanding accrued and unpaid interest as of each payment date.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During January 2024, the Company’s stock price per share fell below the then in effect Floor Price (as defined in the Standby Equity Purchase Agreement disclosure in Note 15) of $<span id="xdx_903_ecustom--MaximumFloorPrice_iI_c20240131__custom--AgreementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_zo6lDnRFZw3g" title="Maximum floor price">2.00</span> for five trading days during a period of seven consecutive trading days (an Amortization Event under the terms of the December Yorkville Convertible Note agreement), thus triggering amortization payments under the terms of the December Yorkville Convertible Note. On January 24, 2024, Yorkville agreed to waive the Amortization Event trigger, prior to the date upon which any amortization payment would have been required. As discussed in the definitions below, the Floor Price was reset on February 14, 2024, in conjunction with the effective date of the Company’s Registration Statement, at a price of $<span id="xdx_90B_ecustom--FloorPrice_iI_pid_c20240214__custom--AgreementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_zObg8TZa3Sp4" title="Floor price">0.294</span> per share of Common Stock, thus curing the Amortization Event condition.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the year ended December 31, 2024, $<span id="xdx_905_eus-gaap--DebtInstrumentIssuedPrincipal_c20240101__20241231__us-gaap--DebtInstrumentAxis__custom--DecemberYorkvilleConvertibleNoteMember__custom--ComponentsAxis__custom--StandbyEquityPurchaseAgreementMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember_zahIiS31Cljc" title="Aggregate outstanding principal amount">2,000,000</span> of the full outstanding principal under the December Yorkville Convertible Note, respectively, was converted into <span id="xdx_903_eus-gaap--ConversionOfStockSharesConverted1_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__custom--ComponentsAxis__custom--StandbyEquityPurchaseAgreementMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember_zMFIOdi2axia" title="Conversion of stock, shares converted">27,539</span> shares of Class A Common stock of the Company. During the year ended December 31, 2024, the full principal amount of $<span id="xdx_90D_eus-gaap--DebtInstrumentFaceAmount_iI_c20241231__us-gaap--DebtInstrumentAxis__custom--YorkvillePromissoryNotesMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember__custom--AgreementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_zQPD2nzit0p7" title="Aggregate principal amount">1,000,000</span> under the February Yorkville Promissory Note was converted into <span id="xdx_906_eus-gaap--ConversionOfStockSharesConverted1_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__custom--AgreementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_zrI3BeyWFmje" title="Conversion of stock, shares converted">2,891</span> Class A Common stock of the Company. During the year ended December 31, 2024, the full outstanding principal amount of $<span id="xdx_90B_eus-gaap--DebtInstrumentFaceAmount_iI_c20241231__us-gaap--DebtInstrumentAxis__custom--MarchYorkvillePromissoryNotesMember__custom--AgreementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_ziIEnEsZ7ZHh" title="Aggregate principal amount">750,000</span> under the March Yorkville Promissory Note was converted into <span id="xdx_907_eus-gaap--ConversionOfStockSharesConverted1_c20240101__20241231__us-gaap--DebtInstrumentAxis__custom--MarchYorkvillePromissoryNotesMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__custom--AgreementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_zIBvK0ll5Wge" title="Conversion of stock, shares converted">14,986</span>, Class A Common stock of the Company.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of December 31, 2024 and December 31, 2023, the principal amount outstanding under the Yorkville Promissory Notes was $<span id="xdx_902_eus-gaap--DebtInstrumentCarryingAmount_iI_c20241231__us-gaap--DebtInstrumentAxis__custom--YorkvillePromissoryNotesMember_zs5HnTK8Nub4" title="Debt instrument carrying amount">0</span> and $<span id="xdx_90B_eus-gaap--DebtInstrumentCarryingAmount_iI_c20231231__us-gaap--DebtInstrumentAxis__custom--YorkvillePromissoryNotesMember_zc12vTDNYmm1" title="Debt instrument carrying amount">2,000,000</span>, respectively. During the year ended December 31, 2024, the Company recorded interest expense of $<span id="xdx_905_eus-gaap--InterestExpense_c20240101__20241231__us-gaap--DebtInstrumentAxis__custom--YorkvillePromissoryNotesMember_zxR3xiq5wogc" title="Interest expense">80,760</span> in connection with the Yorkville Promissory Notes, all of which was related to the Premium Advance.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Yorkville Promissory Notes are required to be measured at fair value pursuant to ASC 480 <i>Distinguishing Liabilities from Equity</i> (“ASC 480”) at the date of issuances and in subsequent reporting periods, due to the variable share-settled feature described above in which, if converted, the value to be received by Yorkville fluctuates based on something other than the fair value of the Company’s common stock. The fair value of the Yorkville Promissory Notes as of December 31, 2024 and December 31, 2023 was $<span id="xdx_90E_eus-gaap--DebtInstrumentFaceAmount_iI_c20241231__us-gaap--DebtInstrumentAxis__custom--YorkvillePromissoryNotesMember_zW1q33CAuHGb" title="Aggregate principal amount">0</span> and $<span id="xdx_901_eus-gaap--DebtInstrumentFaceAmount_iI_c20231231__us-gaap--DebtInstrumentAxis__custom--YorkvillePromissoryNotesMember_zJjBiQc75Bj7" title="Aggregate principal amount">1,766,000</span>, respectively. The Company used a Monte Carlo simulation model in order to determine the Yorkville Promissory Note’s fair value at December 31, 2023, with the following inputs: the fair value of the Company’s common stock of $<span id="xdx_904_eus-gaap--SharePrice_iI_c20231231__us-gaap--DebtInstrumentAxis__custom--YorkvillePromissoryNotesMember_z36JPgI3Efk3" title="Discount price">1.88</span> on December 31, 2023, estimated equity volatility of <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp_uPure_c20230101__20231231__us-gaap--DebtInstrumentAxis__custom--YorkvillePromissoryNotesMember_znQxyK3avCeb" title="Estimated equity volatility">71</span>%, the time to maturity of <span id="xdx_90C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20230101__20231231__us-gaap--DebtInstrumentAxis__custom--YorkvillePromissoryNotesMember_zKrHcrZsR8ag" title="Expected term">0.46</span> years, a discounted market interest rate of <span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsDiscountForPostvestingRestrictions_dp_uPure_c20230101__20231231__us-gaap--DebtInstrumentAxis__custom--YorkvillePromissoryNotesMember_zCqSx8uDtHUi" title="Discounted market interest rate">14</span>%, a risk free rate of <span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_dp_uPure_c20230101__20231231__us-gaap--DebtInstrumentAxis__custom--YorkvillePromissoryNotesMember_zKFV8ea9kWx3" title="Risk free rate">5.28</span>%, and probability of optional redemption <span id="xdx_90C_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsProbabilityOptionalRedemptionRate_dp_uPure_c20230101__20231231__us-gaap--DebtInstrumentAxis__custom--YorkvillePromissoryNotesMember_z77U4oPv5mz4" title="Probability of optional redemption rate">10.0</span>%.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the year ended December 31, 2024 and 2023, the Company recorded a loss of $<span id="xdx_90E_ecustom--GainLossOnChangeInFairValueOfConvertibleNotesLiability_c20240101__20241231__us-gaap--DebtInstrumentAxis__custom--YorkvillePromissoryNotesMember_zgIbTpKLYwR2" title="Gain (loss) on change in fair value of convertible notes liability">693,000</span> and a gain of $<span id="xdx_90F_ecustom--GainLossOnChangeInFairValueOfConvertibleNotesLiability_c20230101__20231231__us-gaap--DebtInstrumentAxis__custom--YorkvillePromissoryNotesMember_zk9YlLY27Zg9" title="Gain (loss) on change in fair value of convertible notes liability">34,000</span>, respectively, related to the change in fair value of the Yorkville Promissory Notes liability, respectively. As of December 31, 2024, the full outstanding balances of the Yorkville Promissory Notes have been converted into the Company’s Class A Common stock and repaid.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Term and Convertible Notes (CP BF) - related party</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During 2021, the Company entered into a loan agreement with CP BF Lending, LLC (“CP BF”) comprised of a Term Note and a Convertible Note. The Term Note bears cash interest at a rate of <span id="xdx_90F_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20211231__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember__us-gaap--LongtermDebtTypeAxis__custom--TermNoteMember_zAuTbRtiqlfd" title="Debt instrument, interest rate">14</span>% per annum paid monthly and accrued interest payable-in-kind (“PIK”) cumulatively at <span id="xdx_901_ecustom--PaidInKindInterestPercentage_iI_dp_uPure_c20211231__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember__us-gaap--LongtermDebtTypeAxis__custom--TermNoteMember_z93oZcLfvYJ1" title="Paid In Kind Interest percentage">1.5</span>% per annum. The outstanding principal balance of the Term Note together with accrued and unpaid interest thereon, unpaid fees and expenses and any other Obligations then due, shall be paid on February 19, 2025 (“Loan Maturity Date”). The Convertible Note accrues PIK interest cumulatively at a rate of <span id="xdx_900_ecustom--PaidInKindInterestPercentage_iI_dp_uPure_c20211231__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_z4XQNrCNk4Ne" title="Paid in kind interest">15.5</span>% per annum, and is convertible into Class A Common Stock upon Qualified Financing (as defined in the agreement), upon a Change of Control (as defined in the agreement), upon Prepayment, or at Maturity at a fixed conversion price of $<span id="xdx_909_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_pid_c20211231__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zkdHK1GNTgF8" title="Debt instrument conversion price per share">133.64</span> per unit. If not sooner converted or prepaid, the Convertible Note principal together with accrued and unpaid interest thereon, unpaid fees and expenses and any other Obligations then due, shall be paid on the Loan Maturity Date.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Additionally, the Company may voluntarily prepay the Principal of the Loans, in accordance with their terms, in whole or in part at any time. On the date of any such prepayment, the Company will owe to Lender: (i) all accrued and unpaid Cash Interest with respect to the principal amount so prepaid through the date the prepayment is made; (ii) if such prepayment is prior to the twelve-month anniversary of the Closing Date, all unpaid interest (including for the avoidance of doubt, PIK Interest and Cash Interest) with respect to the principal amount so prepaid that would have been due and payable on or prior to the twelve-month anniversary of the Closing Date had the Loans remained outstanding until such twelve-month anniversary date (the “Yield Maintenance Premium”); (iii) the Exit Fee with respect to the principal amount so prepaid, calculated as <span id="xdx_900_ecustom--ExitFeePercentage_dp_uPure_c20210101__20211231__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember_zw5fswDdsy4k" title="Exit fee percentage">1.0</span>% of the outstanding principal balance of the Loans, with only the portion of the principal balance so converted counted for purposes of determining the applicable Exit Fee; and provided further, that, in the event of a partial prepayment of the Loans, the Exit Fee shall be calculated on the principal amount so repaid and not on the entire outstanding principal balance thereof, and (iv) all other Obligations, if any, that shall have become due and payable hereunder with respect to the principal amount so prepaid.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_90E_eus-gaap--DebtInstrumentCovenantDescription_c20240101__20241231__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember_zjDxMIRIl3ac" title="Debt covenant description">The Loan Agreement contains customary covenants, including restrictions on the Company’s ability to incur indebtedness, grant liens or security interest on assets, make acquisitions, loans, advances or investments, or sell or otherwise transfer assets, among others. The Loan Agreement also contains other financial covenants related to minimum gross profit margin, minimum ARR (Annual Recurring Revenue) growth rate, and fixed charge ratio, among other financial covenants per the terms of the Loan Agreement.</span> The Loan Agreement is secured by a first-priority Lien (subject to Permitted Liens) on and security interest in the Collateral pursuant to the terms of the Collateral Documents. The Loan Agreement named Joseph Davy, CEO, as Guarantor, and per the term of the Loan Agreement, he is willing to guarantee the full payment, performance and collection of all of the Credit Parties’ obligations thereunder and under the Loan Agreement, all as further set forth therein.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_903_eus-gaap--DebtInstrumentCovenantCompliance_c20240101__20241231__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember_zm3GoC6I23O9" title="Debt Instrument, covenant compliance description">For all respective periods presented, the Company was not in compliance with the Minimum Gross Profit Margin covenant in section 7.14.1 of the Loan Agreement, the Minimum ARR Growth covenant in section 7.14.2 of the Loan Agreement, and the Fixed Charge Coverage Ratio covenant in section 7.14.3 of the Loan Agreement. As a result of the Company’s noncompliance with the financial covenants, the entire principal amount and all unpaid and accrued interest will be classified as current on the Company’s consolidated balance sheets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Upon the occurrence of an Event of Default, and at any time thereafter unless and until such Event of Default has been waived by CP BF or cured to the satisfaction of Lender, subject to the exercise of customary commercial underwriting standards in determining such satisfaction, Lender may, without notice or demand to the Credit Parties declare the unpaid principal of and any accrued interest shall be immediately due and payable. While the Company and the Lender are engaged in good faith discussions to resolve these matters, no agreement to resolve such matters has been reached and all of the Loans remain in default for the reasons stated above, and the Lender is not presently exercising remedies, which the Lender reserves the right to so do at any time.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On February 19, 2021, the Company capitalized $<span id="xdx_909_ecustom--DebtIssuanceCostsCapitalized_c20210219__20210219__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember__us-gaap--LongtermDebtTypeAxis__custom--TermNoteMember_z1UtUhAMtr9h" title="Capitalized debt issuance costs">310,589</span> and $<span id="xdx_90D_ecustom--DebtIssuanceCostsCapitalized_c20210219__20210219__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zDERtMe2FIq7" title="Capitalized debt issuance costs">71,674</span> of costs associated with the issuance of the Term Note and Convertible Notes, respectively, and amortizes these costs to interest expense over the term of the debt, using the effective interest method. The capitalized debt issuance costs are presented as a reduction of the carrying value of the Term Note and Convertible Notes.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The embedded redemption put feature upon a Prepayment and Default Interest triggering events that are unrelated to the creditworthiness of the Company are not clearly and closely related to the debt host instrument, were separated and bundled together, as a derivative and assigned probabilities of being affected and initially measured at fair value in the amount of $<span id="xdx_90A_eus-gaap--DerivativeFairValueOfDerivativeNet_iI_c20210219__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember_zhRDT6OL83f7" title="Derivatives measured at fair value">3,000</span>. Subsequent changes in fair value of the feature will be recognized as a gain or loss in the Consolidated Statement of Operations. The fair value of the bifurcated derivative liability was estimated utilizing the with and without method which uses the probability weighted difference between the scenarios with the derivative and the plain vanilla maturity scenario without a derivative (See <i>Note 8 - Fair Value Measurements</i>).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On October 10, 2022 the Loan Agreement was amended, where CP BF waived payment by the Company of four months of cash interest with respect to the Term Note in replacement for a Convertible Note (“First Amendment Convertible Note”) in the principal amount of $<span id="xdx_900_eus-gaap--DebtInstrumentFaceAmount_iI_c20221010__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember__us-gaap--LongtermDebtTypeAxis__custom--FirstAmendmentConvertibleNoteMember_zGHVZUsHoYRd" title="Aggregate principal amount">321,345</span>, which is not considered an Additional Loan as defined above. The First Amendment Convertible Note has the same features as the Convertible Note described above.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The effective interest rate for the Term Note was <span id="xdx_906_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_dp_uPure_c20241231__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember__us-gaap--LongtermDebtTypeAxis__us-gaap--MediumTermNotesMember_zKZHAsA20UDg" title="Effective interest rate percentage"><span id="xdx_90C_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_dp_uPure_c20231231__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember__us-gaap--LongtermDebtTypeAxis__us-gaap--MediumTermNotesMember_zhT3SmJCLG38" title="Effective interest rate percentage">16</span></span>% for the year ended December 31, 2024 and 2023. Discounts to the principal amounts, relating to the debt issuance costs and embedded features, are included in the carrying value of the Convertible Notes and amortized to interest expense over the remaining term of the underlying debt. For the year ended December 31, 2024, interest expense on the Term Note totaled $<span id="xdx_90B_eus-gaap--InterestExpense_c20240101__20241231__us-gaap--DebtInstrumentAxis__custom--LoanAgreementWithCpbfLendingLlcMember__us-gaap--LongtermDebtTypeAxis__us-gaap--MediumTermNotesMember_zVFPKYcsYLsg" title="Interest expense">851,175</span>, comprised of $<span id="xdx_90B_eus-gaap--InterestExpenseDebt_c20240101__20241231__us-gaap--DebtInstrumentAxis__custom--LoanAgreementWithCpbfLendingLlcMember__us-gaap--LongtermDebtTypeAxis__us-gaap--MediumTermNotesMember_zKw4r2tD2GF4" title="Interest expense debt">772,550</span> of contractual interest and $<span id="xdx_90D_eus-gaap--DebtRelatedCommitmentFeesAndDebtIssuanceCosts_c20240101__20241231__us-gaap--DebtInstrumentAxis__custom--LoanAgreementWithCpbfLendingLlcMember__us-gaap--LongtermDebtTypeAxis__us-gaap--MediumTermNotesMember_zeRvVc2jwJmj" title="Debt related commitement fees and debt issuance costs">78,625</span> for the amortization of the discount. For the year ended December 31, 2023, interest expense on the Term Note totaled $<span id="xdx_90D_eus-gaap--InterestExpense_c20230101__20231231__us-gaap--DebtInstrumentAxis__custom--LoanAgreementWithCpbfLendingLlcMember__us-gaap--LongtermDebtTypeAxis__us-gaap--MediumTermNotesMember_zwzaANvj2cK9" title="Interest expense">1,140,106</span>, respectively, comprised of $<span id="xdx_900_eus-gaap--InterestExpenseDebt_c20230101__20231231__us-gaap--DebtInstrumentAxis__custom--LoanAgreementWithCpbfLendingLlcMember__us-gaap--LongtermDebtTypeAxis__us-gaap--MediumTermNotesMember_zh5nxGkSeuB8" title="Interest expense">1,058,230</span> of contractual interest and $<span id="xdx_905_eus-gaap--DebtRelatedCommitmentFeesAndDebtIssuanceCosts_c20230101__20231231__us-gaap--DebtInstrumentAxis__custom--LoanAgreementWithCpbfLendingLlcMember__us-gaap--LongtermDebtTypeAxis__us-gaap--MediumTermNotesMember_zm1QudwQdIu6" title="Debt related commitement fees and debt issuance costs">81,876</span> for the amortization of the discount.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The effective interest rate for the CP BF Convertible Note and First Amendment Convertible Note was <span id="xdx_90A_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_pid_dp_uPure_c20241231__us-gaap--DebtInstrumentAxis__custom--LoanAgreementWithCpbfLendingLlcMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zpVHpFkQrKB8" title="Effective interest rate percentage"><span id="xdx_90D_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_pid_dp_uPure_c20231231__us-gaap--DebtInstrumentAxis__custom--LoanAgreementWithCpbfLendingLlcMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_z5nuwHeZvNL5" title="Effective interest rate percentage">16</span></span>% for the year ended December 31, 2024 and 2023. For the year ended December 31, 2024, interest expense on the Convertible Notes totaled $<span id="xdx_90F_eus-gaap--InterestExpense_c20240101__20241231__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--DebtInstrumentAxis__custom--LoanAgreementWithCpbfLendingLlcMember_z27wGEGBc4Qh" title="Interest expense">350,430</span> comprised of $<span id="xdx_901_eus-gaap--InterestExpenseDebt_c20240101__20241231__us-gaap--DebtInstrumentAxis__custom--LoanAgreementWithCpbfLendingLlcMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_z0SNOSXCNvrh" title="Interest expense debt">325,818</span> of contractual interest and $<span id="xdx_901_eus-gaap--DebtRelatedCommitmentFeesAndDebtIssuanceCosts_c20240101__20241231__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--DebtInstrumentAxis__custom--LoanAgreementWithCpbfLendingLlcMember_z3CMA4w94rqa" title="Interest expense debt">24,612</span> for the amortization of the discount. For the year ended December 31, 2023, interest expense on the Convertible Notes totaled $<span id="xdx_90F_eus-gaap--InterestExpense_c20230101__20231231__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--DebtInstrumentAxis__custom--LoanAgreementWithCpbfLendingLlcMember_zqdJFgvKRxje" title="Interest expense">422,507</span>, comprised of $<span id="xdx_90D_eus-gaap--InterestExpenseDebt_c20230101__20231231__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--DebtInstrumentAxis__custom--LoanAgreementWithCpbfLendingLlcMember_zOk6M8zy1wZ1" title="Interest expense debt">395,575</span> of contractual interest and $<span id="xdx_904_eus-gaap--DebtRelatedCommitmentFeesAndDebtIssuanceCosts_c20230101__20231231__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--DebtInstrumentAxis__custom--LoanAgreementWithCpbfLendingLlcMember_zTL39SbFJMe6" title="Interest expense debt">26,932</span> for the amortization of the discount.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company utilizes a combination of scenario-based methods and Black-Scholes option pricing models to determine the average share count outstanding at conversion and the simulated price per share for the Company as of the valuation date. Key inputs into these models included the timing and probability of the identified scenarios, and for Black-Scholes option pricing models used for notes that included a valuation cap, equity values, risk-free rate and volatility.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>CP BF restructuring - related party</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_900_eus-gaap--DebtInstrumentConvertibleTermsOfConversionFeature_c20240101__20241231__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember__us-gaap--LongtermDebtTypeAxis__custom--TwentyTwentyFourCPBFConvertibleNoteMember__us-gaap--TypeOfArrangementAxis__custom--SideLetterToTheLoanAgreementMember_zjd86P4d3h7c">On September 5, 2024, the Company entered into a side letter to the loan agreement with CP BF whereby the Company agreed to consolidate the Term Note, CP BF Convertible Note and First Amendment Convertible Note (combined the “Old CP BF Notes”) into a single convertible note (the “2024 CP BF Convertible Note”).</span> In accordance with ASC 470 Debt, the Company treated the Old CP BF Notes as extinguished and recognized a loss on debt extinguishment of $<span id="xdx_903_eus-gaap--GainsLossesOnExtinguishmentOfDebt_c20240905__20240905__us-gaap--LongtermDebtTypeAxis__custom--TwentyTwentyFourCPBFConvertibleNoteMember_zu7oOIVO2dQj" title="Loss on extinguishment of debt">6,529,402</span>, determined by the sum of the fair value of the 2024 CP BF Convertible Note, plus the fair value of the additional equity consideration given as part of the side letter and share purchase agreement, as discussed below, in excess of the carrying value of the Old CP BF Notes. After consideration of the below transactions it was determined CP BF is a related party as they own approximately <span id="xdx_90F_ecustom--PercentageOfCommonStockOwnedByRelatedParty_iI_dp_uPure_c20240905__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember_zYEyQ3w5Pnsk" title="Percentage of owned, related party">16</span>% of the outstanding Class A Common Stock.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In conjunction with the side letter, the Company agreed to issue to CP BF, <span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20240905__20240905__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember_zYd1nGCgNmih" title="Share issued">70,000</span> shares of the Company’s Class A Common Stock. On September 23, 2024 the transaction was finalized and the Company issued the 2024 CP BF Convertible Note with a principal amount of $<span id="xdx_90E_eus-gaap--DebtInstrumentFaceAmount_iI_c20240923__us-gaap--LongtermDebtTypeAxis__custom--TwentyTwentyFourCPBFConvertibleNoteMember_zB1OfHND2iOg" title="Aggregate principal amount">10,758,775</span>. The outstanding principal balance of the 2024 CP BF Convertible Note together with accrued interest thereon, unpaid fees and expenses and any other Obligations then due, shall be paid on <span id="xdx_90A_eus-gaap--DebtInstrumentMaturityDate_dd_c20240923__20240923__us-gaap--LongtermDebtTypeAxis__custom--TwentyTwentyFourCPBFConvertibleNoteMember_ztvgUAZq5frc" title="Debt instrument, maturity date">February 19, 2027</span> (“2024 Loan Maturity Date”). The 2024 CP BF Convertible Note accrues interest at a rate of <span id="xdx_908_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20240923__us-gaap--LongtermDebtTypeAxis__custom--TwentyTwentyFourCPBFConvertibleNoteMember_zyigymewzST1" title="Debt instrument, interest rate">15.5</span>% which interest shall be paid in kind monthly and is convertible at the holder’s option at any time on or following the effectiveness of the first resale registration statement covering the applicable conversion shares at a fixed conversion price per share of $<span id="xdx_901_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_pid_c20240923__us-gaap--LongtermDebtTypeAxis__custom--TwentyTwentyFourCPBFConvertibleNoteMember_zkG5R5d3p7P8" title="Debt instrument conversion price per share">38.90</span>. Upon the occurrence, and during the continuance, of an Event of Default (as defined in the agreement), interest on the 2024 CP BF Convertible Note will bear PIK interest at a per annum rate of <span id="xdx_90B_ecustom--DebtInstrumentInterestRateIncreaseDecreaseOnDefault_pid_dp_c20240923__20240923__us-gaap--LongtermDebtTypeAxis__custom--TwentyTwentyFourCPBFConvertibleNoteMember_z8VDyWnrT7qb" title="Debt instrument, increase in interest rate of an event of default">20</span>% (“2024 Default Rate”).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company may voluntarily prepay the principal of the 2024 CP BF Convertible Note, in accordance with their terms, in whole or in part at any time. On the date of any such prepayment, the Company will owe to Lender: (i) all accrued interest with respect to the principal amount so prepaid through the date the prepayment is made and (ii) the Exit Fee with respect to the principal amount so prepaid, calculated as <span id="xdx_905_ecustom--DebtInstrumentExitFeePercentage_pid_dp_c20240923__20240923__us-gaap--LongtermDebtTypeAxis__custom--TwentyTwentyFourCPBFConvertibleNoteMember_zyci7Bc4MtG9" title="Exit fee, percentage">1.0</span>% of the outstanding principal balance of the loans, with only the portion of the principal balance so converted counted for purposes of determining the applicable Exit Fee; and provided further, that, in the event of a partial prepayment of the loans, the Exit Fee shall be calculated on the principal amount so repaid and not on the entire outstanding principal balance thereof, and (iii) all other Obligations, if any, that shall have become due and payable hereunder with respect to the principal amount so prepaid. The 2024 CP BF Convertible Note obtain features that relate to the mandatory prepayment, either partially or in whole, upon certain contingent events.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The embedded redemption put feature upon a Prepayment and Default Interest triggering events that are unrelated to the creditworthiness of the Company are not clearly and closely related to the debt host instrument, were separated and bundled together, as a derivative and assigned probabilities of being affected and initially measured at fair value in the amount of $<span id="xdx_902_eus-gaap--DerivativeFairValueOfDerivativeNet_iI_c20240923__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember_zawYDlxOhImh" title="Derivatives measured at fair value">12,000</span>. Subsequent changes in fair value of the feature will be recognized as a gain or loss in the Consolidated Statement of Operations. The fair value of the bifurcated derivative asset was estimated utilizing the with and without method which uses the probability weighted difference between the scenarios with the derivative and the plain vanilla maturity scenario without a derivative (See Note 8 - <i>Fair Value Measurements</i>). For the year ended December 31, 2024, the fair value of the bifurcated derivatives totaled to $<span id="xdx_908_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeAsset_iI_c20241231__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember_zOKHhuwiYEP4" title="Bifurcated embedded derivative">51,000</span>. The Company recorded a gain related to the change in fair value of the bifurcated derivatives of $<span id="xdx_908_eus-gaap--EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet_c20240101__20241231__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember_zYMbcMUhjRfg" title="Change in fair value">51,000</span> for the year ended December 31, 2024.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In October 2024, CP BF exercised its optional conversion option in which it received <span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20241001__20241031__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember_zZTREVTILJxi" title="Share issued">5,560</span> Class A Common Stock at the fixed conversion price per share of $<span id="xdx_908_eus-gaap--SharesIssuedPricePerShare_iI_pid_c20241031__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember_zjWXPYxBsxaj" title="Common stock price per share">38.90</span> in satisfaction of $<span id="xdx_90A_eus-gaap--ConversionOfStockAmountIssued1_c20241001__20241031__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember_zl2gpKSbCUQ" title="Shares issued upon conversion of option, value">216,284</span> of the Companies obligations under the 2024 CP BF Convertible Note.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 23, 2024, the Company entered into a Securities Purchase Agreement (the “CP BF SPA”), a Registration Rights Agreement (the “CP BF RRA”), a Lock-Up Agreement (the “CP BF Lock Up”) and issued CP BF a Common Stock Purchase Warrant (the “CP BF Warrant”) and a Pre-Funded Warrant (the “CP BF Pre-Funded Warrant,” together with the CP BF SPA, CP BF RRA, CP BF Lock Up and CP BF Warrant, the “CP BF Transaction Documents”). Pursuant to the CP BF SPA, CP BF agreed to convert $<span id="xdx_909_eus-gaap--DebtInstrumentCarryingAmount_iI_c20240923__us-gaap--TypeOfArrangementAxis__custom--CPBFSecuritiesPurchaseAgreementMember_z3g79I3omxpg" title="Debt">2,000,000</span> in debt into <span id="xdx_903_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20240923__20240923__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--TypeOfArrangementAxis__custom--CPBFSecuritiesPurchaseAgreementMember_zooh78MD4yAj" title="Share issued">26,085</span> shares of Class A Common Stock, CP BF Warrants to purchase up to <span id="xdx_909_ecustom--WarrantsIssued_c20240923__20240923__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--RangeAxis__srt--MaximumMember_zMcLqR3KCj8i" title="Warrants issued">56,555</span> shares of Class A Common Stock and CP BF Pre-Funded Warrants to purchase up to <span id="xdx_90C_ecustom--WarrantsIssued_c20240923__20240923__us-gaap--ClassOfWarrantOrRightAxis__custom--PreFundedWarrantMember__srt--RangeAxis__srt--MaximumMember_zGcVMFrYqV4l" title="Warrants issued">30,470</span> shares of Class A Common Stock (all such securities and shares collectively referred to as the “CP BF Registrable Securities”). The CP BF Warrant can be exercised at an initial exercise price of $<span id="xdx_907_ecustom--ClassOfWarrantOrRightInitialExercisePrice_iI_pid_c20240923__us-gaap--TypeOfArrangementAxis__custom--CPBFSecuritiesPurchaseAgreementMember_z0KnZvnvQarh" title="Warrant initial exercise price">38.90</span> per share, subject to adjustment for a term of five years. The CP BF Pre-Funded Warrant will be exercisable at any time after the date of issuance at an exercise price of $<span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20240923__us-gaap--TypeOfArrangementAxis__custom--CPBFSecuritiesPurchaseAgreementMember_zrHa7fqbM2t1" title="Warrants exercise price">0.0001</span>. Neither warrant may be exercised if the holder, together with its affiliates, would beneficially own more than <span id="xdx_902_ecustom--ClassOfWarrantOrRightExercisePercentageOfShareOutstanding_pid_dp_c20240923__20240923__us-gaap--TypeOfArrangementAxis__custom--CPBFSecuritiesPurchaseAgreementMember_zYtZCyBfgM0j" title="Percentage of number of shares of Common Stock outstanding">19.99</span>% of the number of shares of Common Stock outstanding immediately after giving effect to such exercise. Both warrants may be exercised via cash or cashless exercise. Pursuant to the CP BF RRA, the Company agreed to file a registration statement to register the CP BF Registrable Securities and for the registration statement to become effective on or before December 9, 2024. Under the CP BF Lock-Up, the Company’s CEO, Joe Davy, agreed not to sell an aggregate of <span id="xdx_90A_eus-gaap--CommonStockSharesOutstanding_iI_c20240923__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember__us-gaap--TypeOfArrangementAxis__custom--CPBFSecuritiesPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zbUvbFOEwRY8" title="Common stock shares outstanding">231,114</span> shares of Class B Common Stock that he owns until such time as CP BF no longer owns any of the CP BF Registrable Securities.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; text-indent: 20pt; margin: 0pt 0; text-align: justify">As further discussed in Note 18 - Equity, on September 24, 2024, the Company entered into a securities purchase agreement with an institutional investor for the issuance and sale in a private placement with gross proceeds to the Company of approximately $<span id="xdx_909_eus-gaap--ProceedsFromIssuanceOfPrivatePlacement_pn5n6_c20240924__20240924__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember_zgHBMKRIGa4d" title="Proceeds from issuance of private placement">4.6</span> million. One of the contingent redemption features in the 2024 CP BF Convertible Note relates to the Company prepaying, either partially or in whole, the obligations in an aggregate amount upon the sale of the Company’s capital stock equal to <span id="xdx_904_ecustom--PercentageOfCapitalStockIssued_iI_pid_dp_c20240924__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember__us-gaap--LongtermDebtTypeAxis__custom--TwentyTwentyFourCPBFConvertibleNoteMember_zJzsaV3Hblug" title="Percentage of capital stock issued">20</span>% of the cash proceeds in excess of $<span id="xdx_90C_eus-gaap--ProceedsFromIssuanceOfDebt_c20240924__20240924__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember__us-gaap--LongtermDebtTypeAxis__custom--TwentyTwentyFourCPBFConvertibleNoteMember_zWfpH85c6Eo4" title="Cash proceeds from issuance of convertible notes">3,000,000</span>. The Company paid a total of $<span id="xdx_907_eus-gaap--DebtInstrumentFaceAmount_iI_c20241231__us-gaap--LongtermDebtTypeAxis__custom--TwentyTwentyFourCPBFConvertibleNoteMember_zsQ2Bx4l1fo3" title="Aggregate principal amount">283,315</span>, which satisfied outstanding principal under the 2024 CP BF Convertible Note.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The effective interest rate for the 2024 CP BF Convertible Note was approximately <span id="xdx_90C_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_pid_dp_c20241231__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember__us-gaap--LongtermDebtTypeAxis__custom--TwentyTwentyFourCPBFConvertibleNoteMember_zCawCSjmvvVc" title="Effective interest rate percentage">15.4</span>% for the year ended December 31, 2024. For the year ended December 31, 2024, interest expense on the 2024 CP BF Convertible Note totaled $<span id="xdx_906_eus-gaap--InterestExpense_c20240101__20241231__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember__us-gaap--LongtermDebtTypeAxis__custom--TwentyTwentyFourCPBFConvertibleNoteMember_z88DCv3SkY7l" title="Interest expense">368,525</span> consisting of $<span id="xdx_900_eus-gaap--InterestExpenseDebt_c20240101__20241231__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember__us-gaap--LongtermDebtTypeAxis__custom--TwentyTwentyFourCPBFConvertibleNoteMember_zz1JZy4pM9W4" title="Interest expense debt">369,459</span> of contractual interest offset by $<span id="xdx_900_eus-gaap--DebtRelatedCommitmentFeesAndDebtIssuanceCosts_c20240101__20241231__us-gaap--LineOfCreditFacilityAxis__custom--CPBFLendingLLCMember__us-gaap--LongtermDebtTypeAxis__custom--TwentyTwentyFourCPBFConvertibleNoteMember_zZ7xFgf16Rp8" title="Debt related commitement fees and debt issuance costs">934</span> of amortization of the debt premium.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_C04_gL3CDTTB-IZL_z8DfrHkfXGNf">The following table presents the 2024 CP BF Convertible Note as of December 31, 2024:</span></p> <div id="xdx_C06_gL3CDTTB-IZL_zHnjDFt9wmul"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <table cellpadding="0" cellspacing="0" id="xdx_30F_134_zsZaCMXTRJT9" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Schedule of Convertible Notes (Details)"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_499_20241231__us-gaap--DebtInstrumentAxis__custom--TwentyTwentyFourCPBFConvertibleNoteMember_zMav6w5Egpfk" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--ConvertibleDebtFairValueDisclosures_iI_zs2OrdiYkfZf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">Face value of the CP BF convertible notes</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">8,758,775</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--UnamortizedDebtPremiumOnConvertibleNotesPayable_iI_z6vMNe4uotn2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Debt premium, net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">11,066</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--ConvertibleNotesPayable_iTI_zG2dmnTgK9yl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Carrying value of the CP BF convertible notes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,769,841</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--InterestPayableOnConvertibleDebt_iI_z1dVfcZwSlR7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued interest</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">369,459</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--PrepaymentsMadeOnConvertibleNotes_iI_zJjsp7WdSaze" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Prepayments made</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(283,315</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_ecustom--ConversionsOnConvertibleNotes_iI_zVQAgXirbJv7" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Conversions</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(216,284</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_403_ecustom--ConvertibleDebtIncludingAccruedInterest_iTI_z5elXpPfcOMe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total CP BF convertible notes and accrued interest</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">8,639,701</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">  </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table presents the Old CP BF convertible notes as of December 31, 2024:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Schedule of Convertible Notes (Details)"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">Face value of the CP BF convertible notes</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,821,345</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Debt discount, net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(17,370</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Carrying value of the CP BF convertible notes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,803,975</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued interest</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,240,297</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Carrying value of the CP BF term note extinguished</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,044,272</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total CP BF convertible notes and accrued interest</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_C01_gL3CDTTB-IZL_zLV3bwGP72xa">The following table presents the Old CP BF convertible notes as of December 31, 2023:</span></p> <div id="xdx_C04_gL3CDTTB-IZL_zWXruSBSDzj8"><div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" id="xdx_30C_134_zlYgKHQfqyZ3" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Schedule of Convertible Notes (Details)"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_499_20241231__us-gaap--DebtInstrumentAxis__custom--LoanAgreementWithCpbfLendingLlcMember_z9puYWsP0jLk" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--ConvertibleDebtFairValueDisclosures_iI_zN1PeuDs6K6b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">Face value of the CP BF convertible notes</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,821,345</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--UnamortizedDebtPremiumOnConvertibleNotesPayable_iI_zLSyFQvgDTPd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Debt discount, net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(41,983</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--ConvertibleNotesPayable_iTI_zHNa7CuqzsHe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Carrying value of the CP BF convertible notes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,779,362</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--InterestPayableOnConvertibleDebt_iI_z4JFlst9nku2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued interest</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">914,479</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--ConvertibleDebtIncludingAccruedInterest_iTI_zEFEheSzbyG7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total CP BF convertible notes and accrued interest</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0">2,693,841</p></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table presents the Old CP BF term note as of December 31, 2024:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49A_20231231__us-gaap--DebtInstrumentAxis__custom--LoanAgreementWithCpbfLendingLlcMember_zEBwqwvHStQb" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Face value of the CP BF term note</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><p style="margin: 0">6,500,000</p></td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--ConvertibleDebtFairValueDisclosures_iNI_di_zOlYJsUBv8bf" style="vertical-align: bottom; background-color: White"> <td style="width: 80%; text-align: left">Debt discount, net</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"></td><td style="width: 16%; text-align: right">(50,961</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40F_ecustom--UnamortizedDebtPremiumOnConvertibleNotesPayable_iI_zst97zjk3RS3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Carrying value of the CP BF term note</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,449,039</td><td style="padding-bottom: 1pt; text-align: left"></td></tr> <tr id="xdx_408_eus-gaap--ConvertibleNotesPayable_iTI_zA3hyZIr9qp" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued interest</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">853,451</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--InterestPayableOnConvertibleDebt_iI_zCx32QbYv8Vh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Carrying value of the CP BF term note extinguished</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(7,302,490</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_403_ecustom--ConvertibleDebtIncludingAccruedInterest_iTI_zHCTQ9bOpKrd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total CP BF term note and accrued interest</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl6211">—</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table presents the Old CP BF term note as of December 31, 2023:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_490_20241231__us-gaap--DebtInstrumentAxis__custom--LoanAgreementWithCpbfLendingLlcMember_zBVvZwJgaUb3" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--OtherNotesPayableCurrent_iI_zy0WJHPqbVM2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">Face value of the CP BF term note</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">6,500,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_ecustom--UnamortizedDebtDiscountOnOtherNotesPayable_iI_zWSTbkhEeJ4c" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Debt discount, net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(129,586</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--NotesPayableFairValueDisclosure_iI_zcMxGzoEvw1f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Carrying value of the CP BF term note</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,370,414</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--AccruedInterestOnNotesPayableCurrent_iI_zA0SnO6LMIH1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued interest</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">289,373</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--NotesPayableIncludingAccruedInterest_iI_z1KmafL8F1X3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total CP BF term note and accrued interest</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,659,787</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> </div></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Term Notes (Agile)</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On July 22, 2024, the Company entered into a subordinated business loan and security agreement (the “July Subordinated Business Loan and Security Agreement”) with Agile Lending, LLC and Agile Capital Funding, LLC as the collateral agent. On July 22, 2024, the Company issued a subordinated secured promissory note (the “July Agile Note”) for an aggregate principal amount of $<span id="xdx_90D_eus-gaap--DebtInstrumentFaceAmount_iI_c20240722__us-gaap--TypeOfArrangementAxis__custom--SubordinatedBusinessLoanAndSecurityAgreementMember_zemDsMN8Nquh" title="Debt instrument face amount">787,500</span> and received $<span id="xdx_90E_eus-gaap--ProceedsFromShortTermDebt_c20240722__20240722__us-gaap--TypeOfArrangementAxis__custom--SubordinatedBusinessLoanAndSecurityAgreementMember_zDCjWfYKwpR4" title="Proceeds from debt">750,000</span> of proceeds, net of administrative agent fees $<span id="xdx_908_ecustom--AgentFees_c20240722__20240722__us-gaap--TypeOfArrangementAxis__custom--SubordinatedBusinessLoanAndSecurityAgreementMember_zmaXjRwkE5T7" title="Agent fees">37,500</span> to the collateral agent, with a maturity date of <span id="xdx_90D_eus-gaap--DebtInstrumentMaturityDate_dd_c20240722__20240722__us-gaap--TypeOfArrangementAxis__custom--SubordinatedBusinessLoanAndSecurityAgreementMember_zjmodEmvJD1k" title="Debt instrument, maturity date">February 5, 2025</span> under the subordinated business loan and security agreement. The loan under the agreement bears interest at a rate of <span id="xdx_901_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_dp_c20240722__us-gaap--TypeOfArrangementAxis__custom--SubordinatedBusinessLoanAndSecurityAgreementMember_zYSRSYnAy5Ta" title="Debt instrument, interest rate">42</span>% and will be calculated on a three hundred and sixty (360) day year based on the actual number of days lapsed, and interest shall accrue on the loan commencing on and including the effective date pursuant to the Agreement’s weekly repayment and amortization schedule.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 13, 2024, the Company entered into a subordinated business loan and security agreement (the “September Subordinated Business Loan and Security Agreement”) with Agile Lending, LLC and Agile Capital Funding, LLC as the collateral agent. On September 13, 2024, the Company issued a subordinated secured promissory note (the “September Agile Note”) for an aggregate principal amount of $<span id="xdx_90C_eus-gaap--DebtInstrumentFaceAmount_iI_c20240913__us-gaap--LongtermDebtTypeAxis__custom--SubordinatedSecuredPromissoryNoteMember_z404ZfC38JHf" title="Aggregate principal amount">262,500</span> and received $<span id="xdx_904_eus-gaap--ProceedsFromIssuanceOfSecuredDebt_c20240913__20240913__us-gaap--LongtermDebtTypeAxis__custom--SubordinatedSecuredPromissoryNoteMember_z4gRwt64RF4a" title="Proceeds from issuance of secured debt">250,000</span> of proceeds, net of administrative agent fees $<span id="xdx_900_eus-gaap--DebtInstrumentFeeAmount_iI_c20240913__us-gaap--LongtermDebtTypeAxis__custom--SubordinatedSecuredPromissoryNoteMember_z9wfGNBRLyZ9" title="Administrative agent fees">12,500</span> to the collateral agent, with a maturity date of <span id="xdx_901_eus-gaap--DebtInstrumentMaturityDate_dd_c20240913__20240913__us-gaap--LongtermDebtTypeAxis__custom--SubordinatedSecuredPromissoryNoteMember_zFGVcqroi6Xa" title="Debt instrument, maturity date">March 3, 2025</span> under the September Note. The September Note bears interest at a rate of <span id="xdx_907_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20240913__us-gaap--LongtermDebtTypeAxis__custom--SubordinatedSecuredPromissoryNoteMember_zW9WAC5kfdL8" title="Debt instrument, interest rate">48</span>%, and interest will be calculated on a three hundred and sixty (360) day year based on the actual number of days lapsed, and interest shall accrue on the September Note commencing on and including the effective date pursuant to the September Note Agreement’s weekly repayment and amortization schedule.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 12, 2024, the Company issued a subordinated secured promissory note (the “December Agile Note”) for an aggregate principal amount of $<span id="xdx_907_eus-gaap--DebtInstrumentFaceAmount_iI_c20241212__us-gaap--LongtermDebtTypeAxis__custom--SubordinatedSecuredPromissoryNoteMember_ztBUcuy2FIXg" title="Aggregate principal amount">2,400,000</span> and received $<span id="xdx_908_eus-gaap--ProceedsFromIssuanceOfSecuredDebt_c20241212__20241212__us-gaap--LongtermDebtTypeAxis__custom--SubordinatedSecuredPromissoryNoteMember_z5D2e1UPZpy3" title="Proceeds from issuance of secured debt">1,782,438</span> of proceeds, net of administrative agent fees of $<span id="xdx_901_eus-gaap--DebtInstrumentFeeAmount_iI_c20241212__us-gaap--LongtermDebtTypeAxis__custom--SubordinatedSecuredPromissoryNoteMember_zdFOkLoYQAv2" title="Administrative agent fees">120,000</span> paid to the collateral agent, and net of payments to Agile Lending, LLC of $<span id="xdx_908_eus-gaap--EarlyRepaymentOfSubordinatedDebt_c20241212__20241212__us-gaap--LongtermDebtTypeAxis__custom--JulyAgileNoteMember_zUy1avUID15c" title="Early prepayment of remaining outstanding balances">319,500</span> and $<span id="xdx_908_eus-gaap--EarlyRepaymentOfSubordinatedDebt_c20241212__20241212__us-gaap--LongtermDebtTypeAxis__custom--SeptemberAgileNoteMember_zOEuDQPhenk2" title="Early prepayment of remaining outstanding balances">178,063</span> in respect to early prepayment of the remaining outstanding balances of the July Agile Note and September Agile Note, with a maturity date on the December Agile Note of <span id="xdx_906_eus-gaap--DebtInstrumentMaturityDate_dd_c20241212__20241212__us-gaap--LongtermDebtTypeAxis__custom--SubordinatedSecuredPromissoryNoteMember_zM203Tz7z9gi" title="Debt instrument, maturity date">July 10, 2025</span>. The December Agile Note bears interest at a rate of <span id="xdx_908_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20241212__us-gaap--LongtermDebtTypeAxis__custom--SubordinatedSecuredPromissoryNoteMember_zvuFF12gKgHa" title="Debt instrument, interest rate">44</span>%, and interest will be calculated on a three hundred and sixty (360) day year based on the actual number of days lapsed, and interest shall accrue on the December Agile Note commencing on and including the effective date pursuant to the December Agile Note Agreement’s weekly repayment and amortization schedule.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Upon the modification on December 12, 2024, the Company evaluated the debt modification guidance, determining that the modification is an extinguishment of the existing July Agile Note and September Agile Note due to the terms of the December Agile Note being substantially different from the terms of the July and September Agile Notes. As a result, the Company recorded a loss on debt extinguishment of $<span id="xdx_901_eus-gaap--GainsLossesOnExtinguishmentOfDebt_c20241212__20241212__us-gaap--LongtermDebtTypeAxis__custom--DecemberAgileNoteMember_zu6QroIZu1ec" title="Loss on debt extinguishment">1,071,563</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The July Agile Note, the September Agile Note, and the December Agile Note are together referred to as the “Agile Notes”.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The collateral under the subordinated business loan and security agreements consist of all of the Company’s goods, accounts, equipment, inventory, contract rights or rights to payment of money, leases, license agreements, franchise agreements, general intangibles (including intellectual property), commercial tort claims, documents, instruments (including any promissory notes), chattel paper (whether tangible or electronic), cash, deposit accounts and other collateral accounts, all certificates of deposit, fixtures, letters of credit rights, securities, and all other investment property, supporting obligations, and financial assets. Upon any Changes in Business or Management, Ownership (as defined in the agreements) or upon an Event of Default (as defined in the agreements), each of the July Agile Note and or the September Agile Note then-outstanding will become accelerated and the Company shall immediately pay to Agile an amount equal to the sum of (i) all outstanding principal of the term loan plus accrued and unpaid interest thereon accrued through the prepayment date, (ii) a Prepayment Fee (as defined in the agreements), plus (iii) all other obligations that are due and payable, including, without limitation, incremental interest at the Default Rate of <span id="xdx_908_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20241231__us-gaap--LongtermDebtTypeAxis__custom--AgileTermNotesMember_zNCOsUvH6Wc9" title="Debt instrument, interest rate">5.0</span>% (as defined in the agreements). Additionally, the Company may voluntarily prepay the July Agile Note and or the September Agile Note, in accordance with their terms, in whole or in part at any time. On the date of such prepayment of any principal amounts, the Company will owe to Agile a Prepayment Fee comprising a make-whole premium payment on account of such principal amount prepaid, which shall be equal to the aggregate and actual amount of interest (at the contract rate of interest) that would be paid through the maturity date of the respective note, as described above.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Agile Notes include contingent redemption (put) rights which trigger mandatory prepayment and a make-whole premium upon certain events including an event of default, and defaulted contingent interest upon an event of default.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Due to the contingent redemption put feature and default interest embedded feature within the Agile Notes, the Company elected to account for the Agile Notes at fair value at their respective dates of issuance and in subsequent reporting periods, pursuant to ASC 825 <i>Financial Instruments</i> (“ASC 825”). The Company will record changes in the fair value of the notes that relate to changes in credit risk to other comprehensive income. The remaining changes in fair value, including the component related to accrued interest, will be recorded through the other (income) expense section of the Company’s condensed consolidated statements of operations and comprehensive loss statement in a single line item.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Interest expense on the Agile Notes totaled $<span id="xdx_905_eus-gaap--InterestExpense_c20240101__20241231__us-gaap--LongtermDebtTypeAxis__custom--AgileTermNotesMember_z4U21fDUzRV5" title="Interest expense">100,095</span> for the year ended December 31, 2024 and is included in the fair value of the notes.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_892_eus-gaap--ScheduleOfDebtInstrumentsTextBlock_hus-gaap--LongtermDebtTypeAxis__custom--AgileTermNotesMember_zqNiZZHCESg3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following presents the Agile Notes as of December 31, 2024:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B7_z9qUqwWqrHuj" style="display: none">Summary of Agile Notes</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BA_us-gaap--LongtermDebtTypeAxis_custom--AgileTermNotesMember_zZiwOYpkxFs4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_436_c20240101__20241231_eus-gaap--NotesPayable_iS_z4GaQcvZfi7l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance at December 31, 2023</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl6265">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--IssuanceOfLongTermDebt_zav77KF2B0s2" style="vertical-align: bottom; background-color: White"> <td style="width: 80%; text-align: left">Issuance of Agile term notes</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">3,450,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_ecustom--GainsLossesOnDebtIssuance_zZ4NiVMHBGp3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loss on debt issuance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">390,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--GainsLossesOnRestructuring_zdM8FJuPhyn4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Loss on restructuring</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,071,563</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--RepaymentsOfLongTermDebt_iN_di_zm2Ztp5uksbd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Repayments in cash</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,857,151</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_ecustom--ChangeInFairValueOfLongTermDebt_ziPMv8v60Xvd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">88,588</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_43F_c20240101__20241231_eus-gaap--NotesPayable_iE_zS4GN7Op0R02" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Balance at December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,143,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Outstanding principal balance as of December 31, 2024</td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_eus-gaap--LongTermNotesPayable_iI_c20241231__us-gaap--LongtermDebtTypeAxis__custom--AgileTermNotesMember_zdhM4ioeMz54" style="text-align: right" title="Outstanding principal balance">2,269,695</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Accrued interest as of December 31, 2024</td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_ecustom--InterestPayableOnLongTermDebt_iI_c20241231__us-gaap--LongtermDebtTypeAxis__custom--AgileTermNotesMember_zfgvPTrSuhZ5" style="text-align: right" title="Accrued interest">100,095</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8A4_zI5h3r7wAdG7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">  </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Convertible Notes (1800 Diagonal)</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On August 16, 2024, the Company entered into a securities purchase agreement and promissory note agreement (the “August Securities Purchase Agreement”) with 1800 Diagonal Lending LLC (“Lender”). On August 16, 2024 the Company issued a promissory note (the “August 1800 Diagonal Note”) for an aggregate principal amount of $<span id="xdx_904_eus-gaap--DebtInstrumentFaceAmount_iI_c20240816__us-gaap--LongtermDebtTypeAxis__custom--August1800DiagonalNoteMember_z8tuMNugKaxj" title="Aggregate principal amount">184,000</span> and received $<span id="xdx_901_eus-gaap--ProceedsFromIssuanceOfSecuredDebt_c20240816__20240816__us-gaap--LongtermDebtTypeAxis__custom--August1800DiagonalNoteMember_zp2tabuFvaL1" title="Proceeds from issuance of secured debt">152,000</span> of proceeds, net of an original issue discount of $<span id="xdx_905_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_c20240816__us-gaap--LongtermDebtTypeAxis__custom--August1800DiagonalNoteMember_zrmwRgNDbdJ9" title="Original issue discount">24,000</span> and issuance costs of $<span id="xdx_90A_ecustom--DebtInstrumentUnamortizedDebtIssuanceCostsIncurredDuringThePeriod_c20240816__20240816__us-gaap--LongtermDebtTypeAxis__custom--August1800DiagonalNoteMember_zqTBAAWKtQGe" title="Debt instrument unamortized debt issuance costs incurred during the period">8,000</span> for due diligence and legal fees, with a maturity date of <span id="xdx_909_eus-gaap--DebtInstrumentMaturityDate_dd_c20240816__20240816__us-gaap--LongtermDebtTypeAxis__custom--August1800DiagonalNoteMember_zPcAjVDYwLRk" title="Debt instrument, maturity date">June 15, 2025</span>. The August Securities Purchase Agreement stipulates that the Company and Lender may mutually agree to enter into additional tranches of promissory notes over the 12 month period commencing on August 16, 2024, up to an aggregate total of $<span id="xdx_905_eus-gaap--DebtInstrumentFaceAmount_iI_c20240816__us-gaap--AwardTypeAxis__custom--AdditionalTrancheMember__us-gaap--LongtermDebtTypeAxis__custom--August1800DiagonalNoteMember_zBYlMd5CKvBa" title="Aggregate principal amount">750,000</span>. The stated interest rate on the August Note is <span id="xdx_90B_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20240816__us-gaap--LongtermDebtTypeAxis__custom--August1800DiagonalNoteMember_zwh6gQDOn6f8" title="Debt instrument, interest rate">12</span>% per annum, and interest shall accrue on the August Note commencing on and including the issuance date pursuant to the August Agreement’s monthly repayment and amortization schedule.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 24, 2024, the Company issued a second promissory note (the “September 1800 Diagonal Note”) for an aggregate principal amount of $<span id="xdx_908_eus-gaap--DebtInstrumentFaceAmount_iI_c20240924__us-gaap--LongtermDebtTypeAxis__custom--September1800DiagonalNoteMember_zNSbHzcenBc8" title="Aggregate principal amount">124,200</span> and received $<span id="xdx_90D_eus-gaap--ProceedsFromIssuanceOfSecuredDebt_c20240924__20240924__us-gaap--LongtermDebtTypeAxis__custom--September1800DiagonalNoteMember_z6QPcck9Bak3" title="Proceeds from issuance of secured debt">100,000</span> of proceeds, net of an original discount of $<span id="xdx_901_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_c20240924__us-gaap--LongtermDebtTypeAxis__custom--September1800DiagonalNoteMember_zpc4VeZszprj" title="Original issue discount">16,200</span> and issuance costs of $<span id="xdx_903_ecustom--DebtInstrumentUnamortizedDebtIssuanceCostsIncurredDuringThePeriod_c20240924__20240924__us-gaap--LongtermDebtTypeAxis__custom--September1800DiagonalNoteMember_zgtjtpdfO4f4" title="Debt instrument unamortized debt issuance costs incurred during the period">8,000</span> for due diligence and legal fees, with a maturity date of <span id="xdx_902_eus-gaap--DebtInstrumentMaturityDate_dd_c20240924__20240924__us-gaap--LongtermDebtTypeAxis__custom--September1800DiagonalNoteMember_zLY2TMpB0XN7" title="Debt instrument, maturity date">July 30, 2025</span>. The stated interest rate on the September Note is <span id="xdx_90E_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20240924__us-gaap--LongtermDebtTypeAxis__custom--September1800DiagonalNoteMember_zgqLeUqg9eK3" title="Debt instrument, interest rate">12</span>% per annum, and interest shall accrue on the September Note commencing on and including the issuance date pursuant to the September Note Agreement’s repayment and amortization schedule.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 10, 2024, the Company issued a third promissory note (the “December 1800 Diagonal Note”) for an aggregate principal amount of $<span id="xdx_90A_eus-gaap--DebtInstrumentFaceAmount_iI_c20241210__us-gaap--LongtermDebtTypeAxis__custom--December1800DiagonalNoteMember_zJubUSTBiMFd" title="Aggregate principal amount">124,200</span> and received $<span id="xdx_909_eus-gaap--ProceedsFromIssuanceOfSecuredDebt_c20241210__20241210__us-gaap--LongtermDebtTypeAxis__custom--December1800DiagonalNoteMember_zZHpghnCsVGd" title="Proceeds from issuance of secured debt">100,000</span> of proceeds, net of an original discount of $<span id="xdx_902_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_c20241210__us-gaap--LongtermDebtTypeAxis__custom--December1800DiagonalNoteMember_z3SFlUoi1Y15" title="Original issue discount">16,200</span> and issuance costs of $<span id="xdx_900_ecustom--DebtInstrumentUnamortizedDebtIssuanceCostsIncurredDuringThePeriod_c20241210__20241210__us-gaap--LongtermDebtTypeAxis__custom--December1800DiagonalNoteMember_zBhE3BnVI23a" title="Debt instrument unamortized debt issuance costs incurred during the period">8,000</span> for due diligence and legal fees, with a maturity date of <span id="xdx_908_eus-gaap--DebtInstrumentMaturityDate_dd_c20241210__20241210__us-gaap--LongtermDebtTypeAxis__custom--December1800DiagonalNoteMember_zHxLrMcu1hw3" title="Debt instrument, maturity date">October 15, 2025</span>. The stated interest rate on the December Note is <span id="xdx_90E_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20241210__us-gaap--LongtermDebtTypeAxis__custom--December1800DiagonalNoteMember_zxogYiDWzBc3" title="Debt instrument, interest rate">12</span>% per annum, and interest shall accrue on the December Note commencing on and including the issuance date pursuant to the December Note Agreement’s repayment and amortization schedule.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The August 1800 Diagonal Note, the September 1800 Diagonal Note, and the December 1800 Diagonal Note are together referred to as the “1800 Diagonal Notes”.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Upon an event of default, as defined in the agreements, all or any portion of the 1800 Diagonal Notes that are then-outstanding, may become convertible at the option of the Lender into fully paid and non-assessable shares of the Company’s Common Stock up to <span id="xdx_909_ecustom--PercentageOfCommonStockSharesConvertible_pid_dp_c20240101__20241231__us-gaap--LongtermDebtTypeAxis__custom--ThousandEightHundredDiagonalNotesMember_zhu49Cw0PELh" title="Percentage of common stock shares convertible">4.99</span>% of the Company’s outstanding shares of Common Stock. <span id="xdx_905_eus-gaap--DebtInstrumentConvertibleTermsOfConversionFeature_c20240101__20241231__us-gaap--LongtermDebtTypeAxis__custom--ThousandEightHundredDiagonalNotesMember_zdILCRTxuUKe" title="Debt instrument, convertible terms">The Notes become convertible at the lender’s option upon an event of default, at a conversion price equal to the quotient resulting from dividing the Conversion Amount, measured as the sum of (1) the principal amount of the Note or Notes being converted in such conversion, plus (2) at the lender’s option, accrued and unpaid interest, if any, on such principal amount at the interest rates to the respective note or notes being converted through the conversion date, plus (3) at the lender’s option, the default interest, divided by the “Conversion Price” then in effect on the date specified in the notice of conversion (the conversion date). The Conversion Price will be measured as seventy-five percent (75%) multiplied by the market price, which means the lowest trading price for the Company’s Common Stock during the ten (10) trading day period ending on the latest complete trading day prior to the conversion date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The 1800 Diagonal Notes include optional conversion rights to the holder upon an event of default, contingent redemption (put) rights which trigger mandatory prepayment upon event of default, and defaulted contingent interest upon an event of default.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Due to these embedded features within the 1800 Diagonal Notes, the Company elected to account for the 1800 Agile Notes at fair value at their respective dates of issuance and in subsequent reporting periods, pursuant to ASC 825 <i>Financial Instruments</i> (“ASC 825”). The Company will record changes in the fair value of the notes that relate to changes in credit risk to other comprehensive income. The remaining changes in fair value, including the component related to accrued interest, will be recorded through the other (income) expense section of the Company’s condensed consolidated statements of operations and comprehensive loss statement in a single line item.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Interest expense on the 1800 Diagonal Notes totaled approximately $<span id="xdx_90F_eus-gaap--InterestExpense_c20240101__20241231__us-gaap--LongtermDebtTypeAxis__custom--ThousandEightHundredDiagonalNotesMember_z13hRYNfrBS5" title="Interest expense">12,251</span> for the year ended December 31, 2024 and is included in the fair value of the notes.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_89A_eus-gaap--ScheduleOfDebtInstrumentsTextBlock_hus-gaap--LongtermDebtTypeAxis__custom--DiagonalConvertibleNotesMember_zCgf9D1U34Nh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table presents the 1800 Diagonal Notes as of December 31, 2024:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BC_zYSxqWfaELSh" style="display: none">Summary of Notes</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B0_us-gaap--LongtermDebtTypeAxis_custom--DiagonalConvertibleNotesMember_zqi0n1V61wnl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_43C_c20240101__20241231_eus-gaap--NotesPayable_iS_zk0E3hTFtto9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance at December 31, 2023</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl6329">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--IssuanceOfLongTermDebt_z7lmWjP4ftU" style="vertical-align: bottom; background-color: White"> <td style="width: 80%; text-align: left">Issuance of 1800 Diagonal convertible notes</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">432,400</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--GainsLossesOnDebtIssuance_z0Eg9TIQZyGe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loss on debt issuance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">92,208</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--RepaymentsOfLongTermDebt_iN_di_zke4PxDIueGl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Repayments in cash</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(82,432</td><td style="text-align: left">)</td></tr> <tr id="xdx_40B_ecustom--ChangeInFairValueOfLongTermDebt_zWEJOSZfN5me" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(10,176</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_436_c20240101__20241231_eus-gaap--NotesPayable_iE_zCzI5vzOR4E1" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Balance at December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">432,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Outstanding principal balance as of December 31, 2024</td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--LongTermNotesPayable_iI_c20241231__us-gaap--LongtermDebtTypeAxis__custom--DiagonalConvertibleNotesMember_ztwPe2LLhyJ6" style="text-align: right" title="Outstanding principal balance">370,886</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Accrued interest as of December 31, 2024</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_ecustom--InterestPayableOnLongTermDebt_iI_c20241231__us-gaap--LongtermDebtTypeAxis__custom--DiagonalConvertibleNotesMember_zFTYEYVRR50l" style="text-align: right" title="Accrued interest">15,935</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8A2_z4pngR1M9Yde" style="margin-top: 0; margin-bottom: 0"> </p> <p style="margin-top: 0; margin-bottom: 0"> </p> <p style="margin-top: 0; margin-bottom: 0"> </p> <p id="xdx_8A2_zXlB8Gnz2xI1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> 2000000 0.05 0.15 The outstanding principal and interest under the Old Alco Note was, at the Holder’s election, either (i) effective upon the closing of an Equity Financing (as defined in the agreement), to be converted into shares of the same series of preferred stock of the Company issued to other investors in the Equity Financing (the “Equity Financing Securities”) at a conversion price equal to 85% of the price per share of Equity Financing Securities paid by the other investors in the Equity Financing, with any resulting fraction of a share rounded to the nearest whole share (with 0.5 being rounded up) (the “Conversion Option”) or (ii) immediately prior to the closing of an Equity Financing, become due and payable in cash. 0.85 151000 124621 100274 24347 0.20 2101744 56653 4200538 4200538 2583000 2583000 0.05 The Related Party Convertible Notes bear interest at a rate of 8% per annum, and are convertible into the same series of capital stock of the Company to be issued to other investors upon a Qualified Financing (as defined in the agreement) at a conversion price equal to the lesser of (i) 80% of the per share price paid by the cash purchasers of such Qualified Financing Securities (as defined in the agreement) in the Qualified Financing, or (ii) the conversion price obtained by dividing $50,000,000 by the Fully Diluted Capitalization (as defined in the agreement). If not sooner converted or prepaid, the Convertible Notes are payable no later than the earlier of (a) the written demand by the holders of a majority-in-interest of the Notes then outstanding on or after September 1, 2023, (b) consummation of a Liquidity Event (as defined in the agreement), or (c) the written demand by the Majority Holders (as defined in the agreement) after an Event of Default (as defined in the agreement) has occurred. In the event of a Liquidity Event (as defined below) while this Note is outstanding, immediately prior to the closing of such Liquidity Event and in full satisfaction of this Note, an amount equal to the greater of (a) the Outstanding Amount, or (b) two times (2x) the principal amount of this Note then outstanding shall become immediately due and payable in cash. 0.08 0.80 50000000 1126451 2307013 464071 1842942 7271368 2293 1761206 1435000 The Third Party Convertible Notes bear interest at a rate of 8% per annum, and are convertible into the same series of capital stock of the Company to be issued to other investors upon a Qualified Financing (as defined in the agreement) at a conversion price equal to the lesser of (i) 80% of the per share price paid by the cash purchasers of such Qualified Financing Securities (as defined in the agreement) in the Qualified Financing, or (ii) the conversion price obtained by dividing $50,000,000 by the Fully Diluted Capitalization (as defined in the agreement). If not sooner converted or prepaid, the Convertible Notes are payable no later than the earlier of (a) the written demand by the holders of a majority-in-interest of the Notes then outstanding on or after September 1, 2023, (b) consummation of a Liquidity Event (as defined in the agreement), or (c) the written demand by the Majority Holders (as defined in the agreement) after an Event of Default (as defined in the agreement) has occurred. In the event of a Liquidity Event (as defined below) while this Note is outstanding, immediately prior to the closing of such Liquidity Event and in full satisfaction of this Note, an amount equal to the greater of (a) the Outstanding Amount, or (b) two times (2x) the principal amount of this Note then outstanding shall become immediately due and payable in cash. 0.08 0.80 500000 559390 1063093 188059 875034 3346232 1060 <p id="xdx_89C_eus-gaap--ConvertibleDebtTableTextBlock_gL3CDTTB-IZL_zTZwkeF6dqp" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table presents the Related Party and Third Party Convertible Notes, respectively, as of December 31, 2023:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8B3_z4ss6TeeX4Ag" style="display: none">Schedule of Convertible Notes</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-style: italic; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-style: italic; text-align: center">Related Party</td><td style="padding-bottom: 1pt; font-style: italic"> </td><td style="font-style: italic; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-style: italic; text-align: center">Third Party</td><td style="padding-bottom: 1pt; font-style: italic"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Face value of the convertible notes</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--ConvertibleDebtFairValueDisclosures_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zEcZJuIkkh7c" style="width: 16%; text-align: right" title="Face value of the convertible notes">6,783,538</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--ConvertibleDebtFairValueDisclosures_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_zy1J7b4U6M86" style="width: 16%; text-align: right" title="Face value of the convertible notes">3,196,206</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Debt discount, net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_ecustom--UnamortizedDebtDiscountOnConvertibleNotesPayable_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zslss3q3Mvj9" style="border-bottom: Black 1pt solid; text-align: right" title="Debt discount, net">(131,867</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_ecustom--UnamortizedDebtDiscountOnConvertibleNotesPayable_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_zEnkNkJXVSl8" style="border-bottom: Black 1pt solid; text-align: right" title="Debt discount, net">(83,688</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Carrying value of the convertible notes</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ConvertibleNotesPayable_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zEIa0XqrpG5k" style="text-align: right" title="Carrying value of the convertible notes">6,651,671</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ConvertibleNotesPayable_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_zdlwFMvWXKta" style="text-align: right" title="Carrying value of the convertible notes">3,112,518</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued interest</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_ecustom--InterestPayableOnConvertibleDebt_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z65l03UeBkhg" style="text-align: right" title="Accrued interest">619,697</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_ecustom--InterestPayableOnConvertibleDebt_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_zZIcOrsDEGFc" style="text-align: right" title="Accrued interest">233,714</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Conversion of convertible notes</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_ecustom--ConversionOfConvertibleNote_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z7Zw5SWdiCTg" style="border-bottom: Black 1pt solid; text-align: right" title="Conversion of convertible notes">(7,271,368</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_ecustom--ConversionOfConvertibleNote_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_zzkXmQrGsFwi" style="border-bottom: Black 1pt solid; text-align: right" title="Conversion of convertible notes">(3,346,232</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total convertible notes and accrued interest</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_ecustom--ConvertibleNotesAndAccruedInterest_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zWxQcjFIWLy9" style="border-bottom: Black 2.5pt double; text-align: right" title="Total convertible notes and accrued interest"><span style="-sec-ix-hidden: xdx2ixbrl5710">—</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_ecustom--ConvertibleNotesAndAccruedInterest_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_zgLIZh5Ux8Rf" style="border-bottom: Black 2.5pt double; text-align: right" title="Total convertible notes and accrued interest"><span style="-sec-ix-hidden: xdx2ixbrl5712">—</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The following table presents the 2024 CP BF Convertible Note as of December 31, 2024:<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <table cellpadding="0" cellspacing="0" id="xdx_30F_134_zsZaCMXTRJT9" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Schedule of Convertible Notes (Details)"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_499_20241231__us-gaap--DebtInstrumentAxis__custom--TwentyTwentyFourCPBFConvertibleNoteMember_zMav6w5Egpfk" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--ConvertibleDebtFairValueDisclosures_iI_zs2OrdiYkfZf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">Face value of the CP BF convertible notes</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">8,758,775</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--UnamortizedDebtPremiumOnConvertibleNotesPayable_iI_z6vMNe4uotn2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Debt premium, net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">11,066</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--ConvertibleNotesPayable_iTI_zG2dmnTgK9yl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Carrying value of the CP BF convertible notes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,769,841</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--InterestPayableOnConvertibleDebt_iI_z1dVfcZwSlR7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued interest</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">369,459</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--PrepaymentsMadeOnConvertibleNotes_iI_zJjsp7WdSaze" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Prepayments made</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(283,315</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_ecustom--ConversionsOnConvertibleNotes_iI_zVQAgXirbJv7" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Conversions</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(216,284</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_403_ecustom--ConvertibleDebtIncludingAccruedInterest_iTI_z5elXpPfcOMe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total CP BF convertible notes and accrued interest</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">8,639,701</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">  </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table presents the Old CP BF convertible notes as of December 31, 2024:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Schedule of Convertible Notes (Details)"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">Face value of the CP BF convertible notes</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,821,345</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Debt discount, net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(17,370</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Carrying value of the CP BF convertible notes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,803,975</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued interest</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,240,297</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Carrying value of the CP BF term note extinguished</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,044,272</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total CP BF convertible notes and accrued interest</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> The following table presents the Old CP BF convertible notes as of December 31, 2023:<div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" id="xdx_30C_134_zlYgKHQfqyZ3" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Schedule of Convertible Notes (Details)"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_499_20241231__us-gaap--DebtInstrumentAxis__custom--LoanAgreementWithCpbfLendingLlcMember_z9puYWsP0jLk" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--ConvertibleDebtFairValueDisclosures_iI_zN1PeuDs6K6b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">Face value of the CP BF convertible notes</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,821,345</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--UnamortizedDebtPremiumOnConvertibleNotesPayable_iI_zLSyFQvgDTPd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Debt discount, net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(41,983</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--ConvertibleNotesPayable_iTI_zHNa7CuqzsHe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Carrying value of the CP BF convertible notes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,779,362</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--InterestPayableOnConvertibleDebt_iI_z4JFlst9nku2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued interest</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">914,479</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--ConvertibleDebtIncludingAccruedInterest_iTI_zEFEheSzbyG7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total CP BF convertible notes and accrued interest</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0">2,693,841</p></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table presents the Old CP BF term note as of December 31, 2024:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49A_20231231__us-gaap--DebtInstrumentAxis__custom--LoanAgreementWithCpbfLendingLlcMember_zEBwqwvHStQb" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Face value of the CP BF term note</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><p style="margin: 0">6,500,000</p></td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--ConvertibleDebtFairValueDisclosures_iNI_di_zOlYJsUBv8bf" style="vertical-align: bottom; background-color: White"> <td style="width: 80%; text-align: left">Debt discount, net</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"></td><td style="width: 16%; text-align: right">(50,961</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40F_ecustom--UnamortizedDebtPremiumOnConvertibleNotesPayable_iI_zst97zjk3RS3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Carrying value of the CP BF term note</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,449,039</td><td style="padding-bottom: 1pt; text-align: left"></td></tr> <tr id="xdx_408_eus-gaap--ConvertibleNotesPayable_iTI_zA3hyZIr9qp" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued interest</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">853,451</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--InterestPayableOnConvertibleDebt_iI_zCx32QbYv8Vh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Carrying value of the CP BF term note extinguished</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(7,302,490</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_403_ecustom--ConvertibleDebtIncludingAccruedInterest_iTI_zHCTQ9bOpKrd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total CP BF term note and accrued interest</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl6211">—</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table presents the Old CP BF term note as of December 31, 2023:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_490_20241231__us-gaap--DebtInstrumentAxis__custom--LoanAgreementWithCpbfLendingLlcMember_zBVvZwJgaUb3" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--OtherNotesPayableCurrent_iI_zy0WJHPqbVM2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">Face value of the CP BF term note</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">6,500,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_ecustom--UnamortizedDebtDiscountOnOtherNotesPayable_iI_zWSTbkhEeJ4c" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Debt discount, net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(129,586</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--NotesPayableFairValueDisclosure_iI_zcMxGzoEvw1f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Carrying value of the CP BF term note</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,370,414</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--AccruedInterestOnNotesPayableCurrent_iI_zA0SnO6LMIH1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued interest</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">289,373</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--NotesPayableIncludingAccruedInterest_iI_z1KmafL8F1X3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total CP BF term note and accrued interest</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,659,787</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> </div> 6783538 3196206 -131867 -83688 6651671 3112518 619697 233714 -7271368 -3346232 150000 0.10 0.08 2024-04-29 3711 11284 8022 3261 4494 4044 450 150000 4044 1500000 0.08 2024-09-30 8588 638808 283188 92822 190366 478815 30575 448240 1500000 30575 750000 0.08 2024-04-13 363905 321189 43891 277298 94005 7397 86608 750000 7397 2000000 0.08 2024-12-31 1496252 936941 117040 819901 39087 7890 31197 2000000 7890 for each $5,000.00 in principal borrowed under the Alco September and November Promissory Notes, the Sponsor agreed to forfeit one share of 7GC Class B Common Stock held by the Sponsor, in exchange for the right of Alco to receive one New Banzai Class A Share. For each $5,000.00 in principal borrowed under the December Note, the Sponsor agreed to forfeit three shares of 7GC Class B Common Stock held by the Sponsor, in exchange for the right of Alco to receive three New Banzai Class A Shares. Such forfeited and issued shares under the Alco September, November, and December Promissory Notes are capped at an amount equal to 300,150, and 1,200, respectively. 180 1000000 P0Y9M7D 1000000 180 0.540 0.053 0.107 0.160 0.125 0.80 500000 P0Y8M19D 500000 180 0.520 0.054 0.100 0.150 0.115 0.80 P0Y7M6D 180 0.540 0.052 0.095 0.150 0.115 1 P0Y5M26D 180 0.470 0.052 0.075 0.120 0.090 1 2024-05-31 4000000 4711681 28242 133134 104892 1098614 3687812 4080194 4808882 2 2540091 1781 100000000 0.03 2000000.0 P5Y 0 2000000.0 2000000.0 1200000 1000000.0 100000 1200000 4000 19000 215057 215057 0 3500000 2000000 1800000 200000 1000000 4500000 1000000 900000 100000 1500000 1250000 250000 2000000 200000 0.0001 750000 Under the Amended Debt Repayment Agreement, the Company and Yorkville also agreed to extend the maturity date of the Promissory Notes to the date that is 120 days after the closing of the offering and to satisfy the $75,000 payment premium due in connection with an early redemption through the issuance of an Advance Notice for shares of Class A Common Stock (the “Q2 Prepayment Premium”). 75000 750000 1200 75000 110040 75000 35040 115800 700000 0 2.00 maturity date for the Outstanding Promissory Notes is extended by 120 days to January 17, 2025. 2025-01-17 0 0.18 0.0999 0.10 1000000 0.10 2.00 0.294 2000000 27539 1000000 2891 750000 14986 0 2000000 80760 0 1766000 1.88 0.71 P0Y5M15D 0.14 0.0528 0.100 693000 34000 0.14 0.015 0.155 133.64 0.010 The Loan Agreement contains customary covenants, including restrictions on the Company’s ability to incur indebtedness, grant liens or security interest on assets, make acquisitions, loans, advances or investments, or sell or otherwise transfer assets, among others. The Loan Agreement also contains other financial covenants related to minimum gross profit margin, minimum ARR (Annual Recurring Revenue) growth rate, and fixed charge ratio, among other financial covenants per the terms of the Loan Agreement. For all respective periods presented, the Company was not in compliance with the Minimum Gross Profit Margin covenant in section 7.14.1 of the Loan Agreement, the Minimum ARR Growth covenant in section 7.14.2 of the Loan Agreement, and the Fixed Charge Coverage Ratio covenant in section 7.14.3 of the Loan Agreement. As a result of the Company’s noncompliance with the financial covenants, the entire principal amount and all unpaid and accrued interest will be classified as current on the Company’s consolidated balance sheets. 310589 71674 3000 321345 0.16 0.16 851175 772550 78625 1140106 1058230 81876 0.16 0.16 350430 325818 24612 422507 395575 26932 On September 5, 2024, the Company entered into a side letter to the loan agreement with CP BF whereby the Company agreed to consolidate the Term Note, CP BF Convertible Note and First Amendment Convertible Note (combined the “Old CP BF Notes”) into a single convertible note (the “2024 CP BF Convertible Note”). 6529402 0.16 70000 10758775 2027-02-19 0.155 38.90 0.20 0.010 12000 51000 51000 5560 38.90 216284 2000000 26085 56555 30470 38.90 0.0001 0.1999 231114 4600000 0.20 3000000 283315 0.154 368525 369459 934 8758775 11066 8769841 369459 -283315 -216284 8639701 1821345 -41983 1779362 914479 2693841 50961 6449039 853451 -7302490 6500000 -129586 6370414 289373 6659787 787500 750000 37500 2025-02-05 0.42 262500 250000 12500 2025-03-03 0.48 2400000 1782438 120000 319500 178063 2025-07-10 0.44 1071563 0.050 100095 <p id="xdx_892_eus-gaap--ScheduleOfDebtInstrumentsTextBlock_hus-gaap--LongtermDebtTypeAxis__custom--AgileTermNotesMember_zqNiZZHCESg3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following presents the Agile Notes as of December 31, 2024:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B7_z9qUqwWqrHuj" style="display: none">Summary of Agile Notes</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BA_us-gaap--LongtermDebtTypeAxis_custom--AgileTermNotesMember_zZiwOYpkxFs4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_436_c20240101__20241231_eus-gaap--NotesPayable_iS_z4GaQcvZfi7l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance at December 31, 2023</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl6265">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--IssuanceOfLongTermDebt_zav77KF2B0s2" style="vertical-align: bottom; background-color: White"> <td style="width: 80%; text-align: left">Issuance of Agile term notes</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">3,450,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_ecustom--GainsLossesOnDebtIssuance_zZ4NiVMHBGp3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loss on debt issuance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">390,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--GainsLossesOnRestructuring_zdM8FJuPhyn4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Loss on restructuring</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,071,563</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--RepaymentsOfLongTermDebt_iN_di_zm2Ztp5uksbd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Repayments in cash</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,857,151</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_ecustom--ChangeInFairValueOfLongTermDebt_ziPMv8v60Xvd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">88,588</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_43F_c20240101__20241231_eus-gaap--NotesPayable_iE_zS4GN7Op0R02" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Balance at December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,143,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Outstanding principal balance as of December 31, 2024</td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_eus-gaap--LongTermNotesPayable_iI_c20241231__us-gaap--LongtermDebtTypeAxis__custom--AgileTermNotesMember_zdhM4ioeMz54" style="text-align: right" title="Outstanding principal balance">2,269,695</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Accrued interest as of December 31, 2024</td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_ecustom--InterestPayableOnLongTermDebt_iI_c20241231__us-gaap--LongtermDebtTypeAxis__custom--AgileTermNotesMember_zfgvPTrSuhZ5" style="text-align: right" title="Accrued interest">100,095</td><td style="text-align: left"> </td></tr> </table> 3450000 390000 1071563 1857151 88588 3143000 2269695 100095 184000 152000 24000 8000 2025-06-15 750000 0.12 124200 100000 16200 8000 2025-07-30 0.12 124200 100000 16200 8000 2025-10-15 0.12 0.0499 The Notes become convertible at the lender’s option upon an event of default, at a conversion price equal to the quotient resulting from dividing the Conversion Amount, measured as the sum of (1) the principal amount of the Note or Notes being converted in such conversion, plus (2) at the lender’s option, accrued and unpaid interest, if any, on such principal amount at the interest rates to the respective note or notes being converted through the conversion date, plus (3) at the lender’s option, the default interest, divided by the “Conversion Price” then in effect on the date specified in the notice of conversion (the conversion date). The Conversion Price will be measured as seventy-five percent (75%) multiplied by the market price, which means the lowest trading price for the Company’s Common Stock during the ten (10) trading day period ending on the latest complete trading day prior to the conversion date. 12251 <p id="xdx_89A_eus-gaap--ScheduleOfDebtInstrumentsTextBlock_hus-gaap--LongtermDebtTypeAxis__custom--DiagonalConvertibleNotesMember_zCgf9D1U34Nh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table presents the 1800 Diagonal Notes as of December 31, 2024:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BC_zYSxqWfaELSh" style="display: none">Summary of Notes</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B0_us-gaap--LongtermDebtTypeAxis_custom--DiagonalConvertibleNotesMember_zqi0n1V61wnl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_43C_c20240101__20241231_eus-gaap--NotesPayable_iS_zk0E3hTFtto9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance at December 31, 2023</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl6329">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--IssuanceOfLongTermDebt_z7lmWjP4ftU" style="vertical-align: bottom; background-color: White"> <td style="width: 80%; text-align: left">Issuance of 1800 Diagonal convertible notes</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">432,400</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--GainsLossesOnDebtIssuance_z0Eg9TIQZyGe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loss on debt issuance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">92,208</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--RepaymentsOfLongTermDebt_iN_di_zke4PxDIueGl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Repayments in cash</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(82,432</td><td style="text-align: left">)</td></tr> <tr id="xdx_40B_ecustom--ChangeInFairValueOfLongTermDebt_zWEJOSZfN5me" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(10,176</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_436_c20240101__20241231_eus-gaap--NotesPayable_iE_zCzI5vzOR4E1" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Balance at December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">432,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Outstanding principal balance as of December 31, 2024</td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--LongTermNotesPayable_iI_c20241231__us-gaap--LongtermDebtTypeAxis__custom--DiagonalConvertibleNotesMember_ztwPe2LLhyJ6" style="text-align: right" title="Outstanding principal balance">370,886</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Accrued interest as of December 31, 2024</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_ecustom--InterestPayableOnLongTermDebt_iI_c20241231__us-gaap--LongtermDebtTypeAxis__custom--DiagonalConvertibleNotesMember_zFTYEYVRR50l" style="text-align: right" title="Accrued interest">15,935</td><td style="text-align: left"> </td></tr> </table> 432400 92208 82432 -10176 432000 370886 15935 <p id="xdx_803_eus-gaap--DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_zMB4zu4B0Jq4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>15. <span id="xdx_823_zlRlYZ446PI6">Warrant Liabilities</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Public Warrants</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company assumed Public Warrants in the Merger, exercisable into <span id="xdx_905_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember__us-gaap--AwardTypeAxis__custom--ReverseStockSplitMember_zCYUTNmm15rk" title="Warrants outstanding">23,000</span> shares of Common Stock of the Company, and which remained outstanding as of December 31, 2024. <span id="xdx_904_ecustom--WarrantsExercisePriceDescription_c20240101__20241231_z7Xhw4m71T1" title="Warrants exercise price, description">The Public Warrants have an exercise price of $<span id="xdx_902_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember_zIrcLGIP6Gcb" title="Warrants exercise price">5,750.00</span> per share, subject to adjustments, and will expire <span id="xdx_90D_ecustom--WarrantExpirationPeriod_dc_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember_zMvcHaemhBkj" title="Warrant expiration period">five years</span> from the Merger Closing Date. The exercise price and number of shares of Class A Common Stock issuable upon exercise of the warrants may be adjusted in certain circumstances including in the event of a share dividend, or recapitalization, reorganization, merger or consolidation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company will not be obligated to deliver any shares of Class A Common Stock pursuant to the exercise of a Public Warrant and will have no obligation to settle such Public Warrant exercise unless a registration statement under the Securities Act with respect to the shares of Class A Common Stock underlying the Public Warrants is then effective and a prospectus relating thereto is current, subject to the Company’s satisfying its obligations described below with respect to registration, or a valid exemption from registration is available. <span id="xdx_909_ecustom--WarrantsExercisable_iI_do_c20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zSejHic7aTUj" title="Warrants exercisable">No</span> Public Warrant will be exercisable and the Company will not be obligated to issue a share of Class A Common Stock upon exercise of a Public Warrant unless the shares of Class A Common Stock issuable upon such Public Warrant exercise has been registered, qualified, or deemed to be exempt under the securities laws of the state of the registered holder of the Public Warrants. In the event that the conditions in the two immediately preceding sentences are not satisfied with respect to a Public Warrant, the holder of such Public Warrant will not be entitled to exercise such Public Warrant and such Public Warrant may have no value and expire worthless. In no event will the Company be required to net cash settle any Public Warrant. The Resale Registration statement went effective on February 14, 2024. As the Resale Registration Statement was declared effective within the contractual <span id="xdx_907_ecustom--ContractualTerm_dtD_c20240101__20241231_zcTopwfpZouc" title="Contractual term">60</span>-day term upon closing of the Merger, no “cashless basis” exercises were triggered during the period ended December 31, 2024.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Redemption of Public Warrants When the price per Share of Class A Common Stock Equals or Exceeds $<span id="xdx_905_ecustom--ClassOfWarrantOrRightRedemptionOfWarrantsOrRightsStockPriceTrigger_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember_zW5dxYsZeMEg" title="Redemption trigger price">9,000.00</span></i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Once the Public Warrants become exercisable, the Company may redeem the outstanding Public Warrants:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">in whole and not in part;</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">at a price of $<span id="xdx_90A_eus-gaap--SharePrice_iI_pid_c20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember_zwxClfXHQrlh" title="Share price warrants">5.00</span> per Warrant;</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">• upon a minimum of 30 days' prior written notice of redemption (the "30-day redemption period"); and</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">• if, and only if, the closing price per share of Class A Common Stock equals or exceeds $9,000.00 per share (as adjusted for adjustments to the number of shares issuable upon exercise or the exercise price of a Public Warrant as described under the heading “- Warrants—Public Stockholder Warrants—Anti-dilution Adjustments”) for any 20 trading days within a 30-trading day period ending three trading days before the Company sends the notice of redemption to the warrant holders.</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company will not redeem the Public Warrants as described above unless a registration statement under the Securities Act covering the issuance of shares of Class A Common Stock issuable upon exercise of the Public Warrants is then effective and a current prospectus relating to those shares of Class A Common Stock is available throughout the 30-day redemption period. If and when the Public Warrants become redeemable by the Company, the Company may not exercise its redemption right if the Company is unable to register or qualify the underlying securities for sale under all applicable state securities laws.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has established the last of the redemption criterion discussed above to prevent a redemption call unless there is at the time of the call a significant premium to the Public Warrant exercise price. If the foregoing conditions are satisfied and the Company issues a notice of redemption of the Public Warrants, each warrant holder will be entitled to exercise his, her or its Public Warrant prior to the scheduled redemption date. However, the price per share of Class A Common Stock may fall below the $<span id="xdx_906_ecustom--ClassOfWarrantOrRightRedemptionOfWarrantsOrRightsStockPriceTrigger_pid_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z8Mqzq21A3K" title="Redemption trigger price">9,000.00</span> redemption trigger price (as adjusted for adjustments to the number of shares issuable upon exercise or the exercise price of a Public Warrant as described under the heading “-Warrants—Public Stockholder Warrants—Anti-dilution Adjustments”) as well as the $<span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember_zE9oXG5P8oGb" title="Redemption trigger price">5,750.00</span> (for whole shares) Public Warrant exercise price after the redemption notice is issued.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_907_ecustom--FractionalSharesIssuedUponExerciseOfCommonStock_iI_do_c20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zA4ArUGahYmb" title="Warrants price per share">No</span> fractional shares of Class A Common Stock will be issued upon exercise. If, upon exercise, a holder would be entitled to receive a fractional interest in a share, the Company will round down to the nearest whole number of the number of shares of Class A Common Stock to be issued to the holder.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>GEM Financing Arrangement</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In association with the GEM Letter, see <i>Note 14 - Debt</i> for further details, at Closing, the GEM Warrant automatically became an obligation of the Company, and on December 15, 2023, the Company issued the GEM Warrant granting GEM the right to purchase <span id="xdx_90E_ecustom--WarrantsPurchased_c20231215__20231215__us-gaap--BusinessAcquisitionAxis__custom--GemAgreementMember__us-gaap--StatementEquityComponentsAxis__custom--GemWarrantMember_zPlVvw2Waiq1" title="Warrants purchased">1,657</span> shares at an exercise price of $<span id="xdx_909_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20231215__us-gaap--BusinessAcquisitionAxis__custom--GemAgreementMember__us-gaap--StatementEquityComponentsAxis__custom--GemWarrantMember__us-gaap--AwardTypeAxis__custom--ReverseStockSplitMember_ziK7n9Agsmuf" title="Warrants price per share">3,245.00</span> per share. <span id="xdx_906_ecustom--WarrantsExercisePriceDescription_c20240101__20241231__us-gaap--BusinessAcquisitionAxis__custom--GemAgreementMember__us-gaap--StatementEquityComponentsAxis__custom--GemWarrantMember_zynAdzYzW7Fb" title="Warrants exercise price, description">GEM may exercise the GEM Warrant at any time and from time to time until December 14, 2026. The terms of the GEM Warrant provide that the exercise price of the GEM Warrant, and the number of shares of Class A Common Stock for which the GEM Warrant may be exercised, are subject to adjustment to account for increases or decreases in the number of outstanding shares of New Banzai Common Stock resulting from stock splits, reverse stock splits, consolidations, combinations and reclassifications. Additionally, the GEM Warrant contains weighted average anti-dilution provisions that provide that if the Company issues shares of Common Stock, or securities convertible into or exercisable or exchange for, shares of Common Stock at a price per share that is less than 90% of the exercise price then in effect or without consideration, then the exercise price of the GEM Warrant upon each such issuance will be adjusted to the price equal to 105% of the consideration per share paid for such Common Stock or other securities. In the event of a Change of Control, if the Surviving Corporation does not have registered class of equity securities and common shares listed on a U.S. national securities exchange, then the Holder is entitled to receive one percent of the total consideration received by the Company’s stockholders and the GEM Warrants will expire upon payment. Upon the closing of the OpenReel Merger (as discussed in Note 5), the exercise price of the GEM Warrants were adjusted to the price equal to 105% of the consideration per share paid which resulted in a strike price of $<span id="xdx_90B_ecustom--ClassOfWarrantOrRightStrikePrice_iI_c20231215__us-gaap--BusinessAcquisitionAxis__custom--GemAgreementMember__us-gaap--StatementEquityComponentsAxis__custom--GemWarrantMember_zvmb75bq22gh" title="Warrants strike price">18.30</span>. The effect of the change in strike price feature being triggered resulted in a change of value of approximately $<span id="xdx_90A_ecustom--ChangeInValueOfWarrants_c20231215__20231215__us-gaap--BusinessAcquisitionAxis__custom--GemAgreementMember__us-gaap--StatementEquityComponentsAxis__custom--GemWarrantMember_z8RyTs50cfdh" title="Change in value of warrants">15,000</span> which is recorded in the statement of operations line change in fair value of warrant liability.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Warrants were not considered indexed to the issuer’s stock pursuant to ASC 815, as the holder’s ability to receive in lieu of the Warrant one percent of the total consideration received by the Company’s stockholders in connection with a Change of Control, where the surviving corporation is not publicly traded, adjusts the settlement value based on items outside the Company’s control in violation of the fixed-for-fixed option pricing model. As such, the Company recorded the Warrants as liabilities initially measured at fair value with subsequent changes in fair value recognized in earnings each reporting period.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The measurement of fair value was determined utilizing a Monte Carlo simulation considering all relevant assumptions current at the date of issuance (i.e., share price, exercise price, term, volatility, risk-free rate, probability of dilutive term of three years, and expected time to conversion). As of December 31, 2024 and December 31, 2023, the fair value of the Warrants, as determined by the Monte Carlo simulation option pricing model, were $<span id="xdx_90F_ecustom--FairValueOfWarrants_iI_c20241231_zM3cFD8s01V7" title="Fair value of warrants">15,000</span> and $<span id="xdx_90A_ecustom--FairValueOfWarrants_iI_c20231231_zXdMrNboHgPa" title="Fair value of warrants">641,000</span>, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If the per share market value of one share of Class A Common Stock is greater than the then-current exercise price, then GEM will have the option to exercise the GEM Warrant on a cashless basis and receive a number of shares of Class A Common Stock equal to (x) the number of shares of Class A Common Stock purchasable upon exercise of all of the GEM Warrant or, if only a portion of the GEM Warrant is being exercised, the portion of the GEM Warrant being exercised, less (y) the product of the then-current exercise price and the number of shares of Class A Common Stock purchasable upon exercise of all of the GEM Warrant or, if only a portion of the GEM Warrant is being exercised, the portion of the GEM Warrant being exercised, divided by the per share market value of one share of Class A Common Stock.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The GEM Warrant may not be exercised if such exercise would result in the beneficial ownership of the holder and its affiliates in excess of <span id="xdx_90D_ecustom--ClassOfWarrantsOrRightsThresholdLimitForTheThenIssuedAndOutstandingSharesOfCommonStock_iI_dp_uPure_c20231215_zENB64wLNyId" title="Class of warrants or rights threshold limit for the then issued and outstanding shares of Common Stock">9.99</span>% of the then-issued and outstanding shares of Common Stock.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> 23000 The Public Warrants have an exercise price of $5,750.00 per share, subject to adjustments, and will expire five years from the Merger Closing Date. The exercise price and number of shares of Class A Common Stock issuable upon exercise of the warrants may be adjusted in certain circumstances including in the event of a share dividend, or recapitalization, reorganization, merger or consolidation. 5750.00 P5Y 0 P60D 9000.00 5.00 9000.00 5750.00 0 1657 3245.00 GEM may exercise the GEM Warrant at any time and from time to time until December 14, 2026. The terms of the GEM Warrant provide that the exercise price of the GEM Warrant, and the number of shares of Class A Common Stock for which the GEM Warrant may be exercised, are subject to adjustment to account for increases or decreases in the number of outstanding shares of New Banzai Common Stock resulting from stock splits, reverse stock splits, consolidations, combinations and reclassifications. Additionally, the GEM Warrant contains weighted average anti-dilution provisions that provide that if the Company issues shares of Common Stock, or securities convertible into or exercisable or exchange for, shares of Common Stock at a price per share that is less than 90% of the exercise price then in effect or without consideration, then the exercise price of the GEM Warrant upon each such issuance will be adjusted to the price equal to 105% of the consideration per share paid for such Common Stock or other securities. In the event of a Change of Control, if the Surviving Corporation does not have registered class of equity securities and common shares listed on a U.S. national securities exchange, then the Holder is entitled to receive one percent of the total consideration received by the Company’s stockholders and the GEM Warrants will expire upon payment. Upon the closing of the OpenReel Merger (as discussed in Note 5), the exercise price of the GEM Warrants were adjusted to the price equal to 105% of the consideration per share paid which resulted in a strike price of $18.30. The effect of the change in strike price feature being triggered resulted in a change of value of approximately $15,000 which is recorded in the statement of operations line change in fair value of warrant liability. 18.30 15000 15000 641000 0.0999 <p id="xdx_80A_ecustom--SimpleAgreementsForFutureEquityDisclosureTextBlock_zICdVEZLlI0e" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>16. <span id="xdx_827_zFws5kaBcUo6">Simple Agreements for Future Equity</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Simple Agreements for Future Equity - Related Party</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During 2021, the Company entered into Simple Agreements for Future Equity (SAFE) arrangements with related parties Alco and DNX (See <i>Note 14 - Debt</i>, for a description of the related party relationship with these entities) (the “Related Party SAFEs”) pursuant to which the Company received gross proceeds in the amount of $<span id="xdx_90B_ecustom--ProceedsFromSimpleAgreementForFutureEquity_c20210101__20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlcoDNXAndWilliamBryantMember_zl5Ks4L6Vv32" title="Received gross proceeds">3,567,000</span>. In the event of an Equity Financing (as defined in the SAFEs agreements), the Related Party SAFEs will automatically convert into shares of the Company’s common or preferred stock at a discount of <span id="xdx_905_ecustom--PercentageOfDiscountPricePerShare_pid_dp_uPure_c20210101__20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SimpleAgreementsForFutureEquityMember_zQHdKXOMAK76" title="Discount price">15</span>% of the per share price of the shares offered in the Equity Financing (the “Discount Price”). In the event of a Liquidity Event, SPAC Transaction or Dissolution Event (all terms as defined in the SAFEs agreements), the holders of the Related Party SAFEs will be entitled to receive cash or shares of the Company’s common or preferred stock. The Related Party SAFEs were recorded as a liability in accordance with the applicable accounting guidance as they are redeemable for cash upon contingent events that are outside of the Company’s control. The initial fair value of the Related Party SAFE liability was $<span id="xdx_90F_ecustom--FairValueOfSafeLiability_iI_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlcoDNXAndWilliamBryantMember_zPbrhhSp1D7j" title="Fair value of SAFE liability">3,567,000</span>. Subsequent changes in fair value at each reporting period are recognized in the consolidated statement of operations. For the year ended December 31, 2023, the Company recognized a gain of $<span id="xdx_900_ecustom--GainLossOnCahngeInFairValueOfSafeLiability_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlcoDNXAndWilliamBryantMember_zJ8gAu2EWhT7" title="Gain on change in fair value of SAFE liability">2,752,430</span> for the change in fair value of the Related Party SAFE liability, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company utilizes a combination of scenario-based methods and Monte Carlo simulation to determine the fair value of the Related Party SAFE liability as of the valuation dates. Key inputs into these models included the timing and probability of the identified scenarios, and for Black-Scholes option pricing models used for notes that included a valuation cap, equity values, risk-free rate and volatility.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 14, 2023, all outstanding principal related to the Related Party SAFEs at a carrying value of $<span id="xdx_904_eus-gaap--DebtInstrumentCarryingAmount_iI_c20231214__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlcoDNXAndWilliamBryantMember_zfzbzBW6SKz9" title="Outstanding principal amount">6,049,766</span> converted into <span id="xdx_907_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_c20231214__20231214__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlcoDNXAndWilliamBryantMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zHQLUjndoi6g" title="Debt outstanding converted to common stock">1,104</span> shares the Company’s Class A Common Stock pursuant to the close of the Merger Agreement and application of the exchange ratio.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Simple Agreements for Future Equity - Third Party</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During 2021, the Company entered into Simple Agreements for Future Equity (SAFE) arrangements with third party investors (the “Third Party SAFEs”) pursuant to which the Company received gross proceeds in the amount of $<span id="xdx_90A_ecustom--ProceedsFromSimpleAgreementForFutureEquity_c20210101__20211231__srt--CounterpartyNameAxis__custom--ThirdPartySafesMember_zBzK2zvPrK2" title="Received gross proceeds">269,000</span>. In the event of an Equity Financing (as defined in the SAFEs agreements), the Third Party SAFEs will automatically convert into shares of the Company’s common or preferred stock at a discount of <span id="xdx_902_ecustom--CommonAndPreferredStockDiscountPercentage_pid_dp_uPure_c20210101__20211231__srt--CounterpartyNameAxis__custom--ThirdPartySafesMember_zddUoskeX4T2" title="Discount price">15</span>% of the per share price of the shares offered in the Equity Financing (the “Discount Price”). In the event of a Liquidity Event, SPAC Transaction or Dissolution Event (all terms as defined in the SAFEs agreements), the holders of the Third Party SAFEs will be entitled to receive cash or shares of the Company’s common or preferred stock. The Third Party SAFEs were recorded as a liability in accordance with the applicable accounting guidance as they are redeemable for cash upon contingent events that are outside of the Company’s control. The initial fair value of the Third Party SAFE liability was $<span id="xdx_90B_ecustom--FairValueOfSafeLiability_iI_c20211231__srt--CounterpartyNameAxis__custom--ThirdPartySafesMember_zaD7IOSvPCdb" title="Fair value of SAFE liability">269,000</span>. Subsequent changes in fair value at each reporting period are recognized in the Consolidated Statement of Operations. For the year ended December 31, 2023, the Company recognized a gain of $<span id="xdx_90F_ecustom--GainLossOnCahngeInFairValueOfSafeLiability_c20230101__20231231__srt--CounterpartyNameAxis__custom--ThirdPartySafesMember_z8ikahXWKUSc" title="Gain on change in fair value of SAFE liability">207,570</span> for the change in fair value of the Third Party SAFE liability.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company utilizes a combination of scenario-based methods and Monte Carlo simulation to determine the fair value of the Third Party SAFE liability as of the valuation dates. Key inputs into these models included the timing and probability of the identified scenarios, and for Black-Scholes option pricing models used for notes that included a valuation cap, equity values, risk-free rate and volatility.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 14, 2023, all outstanding principal related to the Third Party SAFEs at a carrying value of $<span id="xdx_900_eus-gaap--DebtInstrumentCarryingAmount_iI_c20231214__srt--CounterpartyNameAxis__custom--ThirdPartySafesMember_zqGNjWhCbK9b" title="Outstanding principal amount">456,234</span> converted into <span id="xdx_90D_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_c20231214__20231214__srt--CounterpartyNameAxis__custom--ThirdPartySafesMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zCubRvxf2XH6" title="Debt outstanding converted to common stock">83</span> shares the Company’s Class A Common Stock pursuant to the close of the Merger Agreement and application of the exchange ratio.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> 3567000 0.15 3567000 2752430 6049766 1104 269000 0.15 269000 207570 456234 83 <p id="xdx_80B_eus-gaap--CommitmentsAndContingenciesDisclosureTextBlock_z9qUNjq2sTnb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>17. <span id="xdx_822_zJdZBHliWqHe">Commitments and Contingencies</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Leases</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has operating leases for its real estate across multiple states. The operating leases have remaining lease terms of approximately <span id="xdx_90F_eus-gaap--LesseeOperatingLeaseRemainingLeaseTerm_iI_dtY_c20241231_z6nffuaEulD2" title="Leases operating lease remaining lease term">2.83</span> years as of December 31, 2024 and consist primarily of office space.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The lease agreements generally do not provide an implicit borrowing rate. Therefore, the Company used a benchmark approach to derive an appropriate incremental borrowing rate to discount remaining lease payments.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Leases with an initial term of twelve months or less are not recorded on the balance sheet. There are no material residual guarantees associated with any of the Company’s leases, and there are no significant restrictions or covenants included in the Company’s lease agreements. Certain leases include variable payments related to common area maintenance and property taxes, which are billed by the landlord, as is customary with these types of charges for office space. The Company has not entered into any lease arrangements with related parties.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company’s existing leases contain escalation clauses and renewal options. The Company is not reasonably certain that renewal options will be exercised upon expiration of the initial terms of its existing leases.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company entered into a sublease which it has identified as an operating lease prior to the adoption of ASC 842 <i>Leases</i>. The Company remains the primary obligor to the head lease lessor, making rental payments directly to the lessor and separately billing the sublessee. The sublease is subordinate to the master lease, and the sublessee must comply with all applicable terms of the master lease. The Company subleased the real estate to a third-party at a monthly rental payment amount that was less than the monthly cost that it pays on the headlease with the lessor. The sublease expired at the end of September 2024.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_898_eus-gaap--LeaseCostTableTextBlock_zl2gi7bGrexb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The components of lease expense for the years ended December 31, 2024 and 2023, are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="display: none"><span id="xdx_8BD_zNfTwPMtEyVk">Schedule of Components of Lease Expense</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Components of lease expense:</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20240101__20241231_zBng0lZou9Pj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20230101__20231231_zBh8cMEx13p8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Year Ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--LeaseCostAbstract_iB_zMfpeRILTrka" style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Components of lease expense:</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--OperatingLeaseCost_i01_zMqoTbTXtMwb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Operating lease cost</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">145,674</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">199,611</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--SubleaseIncome_i01N_di_zLTPsKY4HnQl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Sublease income</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(117,084</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(204,324</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--LeaseCost_i01T_z0XbD1wXFpdd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total lease (income) cost</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">28,590</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(4,713</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> <p id="xdx_8A5_zDNiZtjBABe3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_899_ecustom--ScheduleOfSupplementalCashFlowInformationRelatedToLeasesTableTextBlock_zt1Wq0G37su" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Supplemental cash flow information related to leases are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="display: none"><span id="xdx_8BC_zXwnx0PsDQEg">Schedule of Supplemental Cash Flow Information Related to Leases</span></span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Supplemental cash flow information:</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20240101__20241231_zVAAhK8IkkB6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20230101__20231231_zs74kYYqEFcd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Year Ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Supplemental cash flow information:</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40B_eus-gaap--CashFlowOperatingActivitiesLesseeAbstract_iB_zllgZCmNeWqf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Cash paid for amounts included in the measurement of lease liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OperatingLeaseRightOfUseAssetAmortizationExpense_i01_zE95hUt6d0Ib" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left; padding-left: 10pt">Non-cash lease expense (operating cash flow)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">137,717</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">173,245</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--IncreaseDecreaseInOperatingLeaseLiability_i01_z6UmEiyeTXva" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Change in lease liabilities (operating cash flow)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(237,607</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(284,963</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_ecustom--OperatingLeaseRightOfUseAssetsObtainedInExchangeForLeaseObligationsAbstract_iB_zVRpdLLTleef" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Right of use assets obtained in exchange for lease obligations:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability_i01_zXU8Ss7yT5U9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Operating leases</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">76,269</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl6444">—</span></td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8AF_zYplm96sQNya" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_894_ecustom--ScheduleOfSupplementalBalanceSheetInformationRelatedToLeasesTableTextBlock_zA2nkL0dQmv9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Supplemental balance sheet information related to leases was as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="display: none"><span id="xdx_8B0_zCdZrUV5uAhl">Schedule of Supplemental Balance Sheet Information Related to Leases</span></span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr id="xdx_40D_eus-gaap--LeasesOperatingAbstract_iB_zkc6GSx3Xbz7" style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Operating leases:</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20241231_zyOKIso6ozs9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20231231_zU5zQ3KgU9T6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--OperatingLeaseRightOfUseAsset_i01I_zA1Co7q8crK2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left; padding-bottom: 1pt">Operating lease right-of-use assets</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">72,565</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">134,013</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--OperatingLeaseLiabilityCurrent_i01I_zCCJ1kmMarRj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Operating lease liability, current</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22,731</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">234,043</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--OperatingLeaseLiabilityNoncurrent_i01I_zARyMijWR7hh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Operating lease liability, non-current</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">49,974</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl6456">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OperatingLeaseLiability_i01I_zeWnIUOqqRe5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total operating lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">72,705</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">234,043</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr id="xdx_401_ecustom--WeightedAverageRemainingLeaseTermAbstract_iB_z2WEy8SjWv0f" style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Weighted-average remaining lease term:</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Operating leases (in years)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_906_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20241231_zMC7C71bG4p3" title="Operating leases (in years)">2.83</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_900_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20231231_zLysO6PQCuGb" title="Operating leases (in years)">0.76</span></td><td style="width: 1%; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr id="xdx_40E_ecustom--WeightedAverageDiscountRateAbstract_iB_zXymlY5TMFP3" style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Weighted-average discount rate:</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Operating leases</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_i01I_pid_dp_uPure_c20241231_zdUllunJ8FWf" style="width: 16%; text-align: right" title="Operating leases">9.40</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_i01I_pid_dp_uPure_c20231231_zFLhz9GQIvJl" style="width: 16%; text-align: right" title="Operating leases">6.76</td><td style="width: 1%; text-align: left">%</td></tr> </table> <p id="xdx_8A2_zjppWYO78peb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_89F_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_zYfljJse4yk9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Future minimum lease payments under non-cancellable lease as of December 31, 2024, are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="display: none"><span id="xdx_8BD_zavWdYYbbRf9">Schedule of Future Minimum Lease Payments Under Non-Cancellable Lease</span></span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr id="xdx_40D_eus-gaap--OperatingLeaseLiabilitiesPaymentsDueAbstract_iB_zTgo7P53QHnh" style="vertical-align: bottom"> <td style="text-align: left; font-weight: bold">Maturities of lease liabilities:</td><td> </td> <td colspan="2" id="xdx_492_20241231_z7R5weLC31h9" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Year Ending December 31,</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_i01I_maLOLLPzX96_zoFx5SlhHQ08" style="vertical-align: bottom; background-color: White"> <td style="width: 80%; text-align: left">2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">28,608</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_i01I_maLOLLPzX96_zDbbJbouU5yi" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left">Year I</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">28,608</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_i01I_maLOLLPzX96_zCbZdIbpsfif" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">29,466</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_i01I_maLOLLPzX96_z4IxUnHbbv55" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> Year II</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">29,466</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_i01I_maLOLLPzX96_zmBxVb9TlJBf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">25,167</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_i01I_maLOLLPzX96_znsEOhzmjJf3" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left">Year III</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">25,167</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearThree_i01I_maLOLLPzX96_zyeNnL7TKHyi" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left">Year III and thereafter</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_i01I_maLOLLPzX96_ziN3A6DuIU56" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl6492">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_i01I_maLOLLPzX96_zJk2O8DX1va5" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Year IV</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl6494">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour_i01I_maLOLLPzX96_zhnwcLVha0eh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">2029 and thereafter</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl6496">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour_i01I_maLOLLPzX96_z4jcqq7wU759" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Year IV and thereafter</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl6498">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_i01TI_mtLOLLPzX96_zaAV5FrkAuJh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Total undiscounted cash flows</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">83,241</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_i01NI_di_z1foTwQMGtad" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less discounting</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(10,536</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--OperatingLeaseLiability_i01I_zYOS15SoXnnf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Present value of lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">72,705</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A8_zBKt9n9NT9b2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">  </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Cantor Fee Agreement</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with the Merger, 7GC previously agreed to pay Cantor Fitzgerald &amp; Co. (“Cantor” or “CF&amp;CO”) an Original Deferred Fee of $<span id="xdx_909_ecustom--DeferredUnderwritingFeesPayable_iI_c20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CantorFitzgeraldAndCoMember__us-gaap--TypeOfArrangementAxis__custom--CantorFeeAgreementMember__dei--LegalEntityAxis__custom--SevenGcCoHoldingsIncMember_zL7b3FD2B8Z2" title="Deferred underwriting fees payable">8,050,000</span> as deferred underwriting commissions. On November 8, 2023, Cantor and 7GC entered into a Fee Reduction Agreement, pursuant to which Cantor agreed to forfeit $<span id="xdx_90B_ecustom--DeferredUnderwritingFeesForfeit_iI_c20231108__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CantorFitzgeraldAndCoMember__us-gaap--TypeOfArrangementAxis__custom--CantorFeeAgreementMember__dei--LegalEntityAxis__custom--SevenGcCoHoldingsIncMember_zgoRD99D7BRh" title="Deferred underwriting fees forfeit">4,050,000</span> of the $<span id="xdx_907_ecustom--DeferredUnderwritingFeesPayable_iI_c20231108__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CantorFitzgeraldAndCoMember__us-gaap--TypeOfArrangementAxis__custom--CantorFeeAgreementMember__dei--LegalEntityAxis__custom--SevenGcCoHoldingsIncMember_zUqicFGSKnuk" title="Deferred underwriting fees payable">8,050,000</span> Original Deferred Fee, with the remaining $<span id="xdx_90B_ecustom--IncreaseDecreaseInDeferredUnderwritingFees_iI_c20231108__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CantorFitzgeraldAndCoMember__us-gaap--TypeOfArrangementAxis__custom--CantorFeeAgreementMember__dei--LegalEntityAxis__custom--SevenGcCoHoldingsIncMember_zIsDUBme1Jeb" title="Increase decrease in deferred underwriting fees">4,000,000</span> Reduced Deferred Fee payable by Banzai to Cantor following the Closing of the Merger.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the Fee Reduction Agreement, the Company agreed to use its reasonable best efforts to have the registration statement declared effective by the SEC by the 120th calendar day after December 29, 2023, the date of the initial filing thereof, and to maintain the effectiveness of such registration statement until the earliest to occur of (i) the second anniversary of the date of the effectiveness thereof, (ii) the Cantor Fee Shares shall have been sold, transferred, disposed of or exchanged by Cantor, and (iii) the Cantor Fee Shares issued to Cantor may be sold without registration pursuant to Rule 144 under the Securities Act (such obligations, the “Cantor Registration Rights Obligations”).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of December 31, 2024, the Company has satisfied its Cantor Registration Rights Obligations. Therefore, the liability was derecognized as of December 31, 2024 and the relief of the liability was recorded through equity.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Investor Relations Consulting Agreement with MZHCI, LLC</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; text-indent: 20pt; margin: 0pt 0; text-align: justify">On August 26, 2024, the Company entered into an Investor Relations Consulting Agreement (the “Consulting Agreement”) with MZHCI, LLC, a MZ Group Company (“MZHCI”), pursuant to which the Company agreed to issue <span id="xdx_90C_eus-gaap--RestrictedStockSharesIssuedNetOfSharesForTaxWithholdings_c20240826__20240826__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MzhciLlcMember_zrHq89aGYYF9" title="Restricted shares issued">2,400</span> restricted shares, partially in exchange for the various investor relations services outlined in the Consulting Agreement. The Company will also pay MZHCI $<span id="xdx_908_ecustom--InvestorRelationsServicesAmount_iI_c20240826__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MzhciLlcMember_zHeDT5uEyRgk" title="Investor relations services amount paid">12,500</span> per month for their investor relations services with an annual <span id="xdx_904_ecustom--CostOfLivingAdjustment_iI_pid_dp_uPure_c20240826__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MzhciLlcMember_zpu64NYbgTi5" title="Annual cost of living adjustment">5</span>% cost of living adjustment. This agreement becomes effective upon the execution of the Consulting Agreement and shall remain effective for a period of six (<span id="xdx_90A_ecustom--EffectiveAgreementPeriod_dtM_c20240826__20240826__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MzhciLlcMember_zkm6z28HKAUl" title="Effective agreement period">6</span>) months, unless terminated earlier. The Consulting Agreement shall automatically renew every six (<span id="xdx_90C_ecustom--AgreementRenewalPeriod_dtM_c20240826__20240826__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MzhciLlcMember_zGc1iCK64Lsf" title="Agreement renew period">6</span>) months thereafter unless either party delivers to the other sixty (<span id="xdx_903_ecustom--ServicesAgreementPeriodOfWrittenNoticeForTerminationPriorToRenewalOfAgreement_dtD_c20240826__20240826__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MzhciLlcMember_z9aL5eYldOcd" title="Period of written notice for termination prior to renewal of agreement">60</span>) days written notice of termination prior to the end of the then-current term. On September 9, 2024, the Company issued <span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20240826__20240826__us-gaap--TypeOfArrangementAxis__custom--InvestorRelationsConsultingAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MzhciLlcMember_zEKUvIhukd2d" title="Stock issued">2,400</span> shares to MZHCI. The shares are exempt from registration pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended, and were issued as restricted stock with an appropriate restrictive legend.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Repayment Plans</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During 2024 the Company entered into various agreements (the “Settlement Agreements”) to reorganize outstanding debt from certain creditors (collectively, the “Creditors”) into shares of the Company’s Class A Common Stock (the “Shares”) (collectively, the “Debt Reorganization”). The Shares issued as part of the Debt Reorganization include Shares that are to be registered with the Securities and Exchange Commission (the “SEC”) in a registration statement on Form S-1 and Shares that are exempt from registration. The details of the various agreements are summarized below.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Roth Addendum to Letter Agreements</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On October 5, 2022, the Company engaged Roth Capital Partners, LLC (“Roth”) to act as financial advisor to the Company in its then proposed business combination with 7GC &amp; Co. Holdings, Inc. (“7GC”), pursuant to an agreement (the “Roth Agreement”). On October 14, 2022, 7GC entered into a similar agreement where MKM Partners, LLC, later acquired by Roth, would act as financial advisor to 7GC in its then proposed business combination with the Company (the “7GC Agreement”, together with the Roth Agreement, the “Letter Agreements”). On February 2, 2024, the Company entered into an Addendum to the Letter Agreements with Roth (the “Addendum”), <span id="xdx_90B_ecustom--AddendumToLetterAgreementsDescription_c20240101__20241231_zGOiF1CfuDn7" title="Addendum to letter agreements">where the Company agreed to pay the fees owed under the Roth Agreement and 7GC Agreement by (1) issuing to Roth <span id="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20240202__20240202__us-gaap--TypeOfArrangementAxis__custom--RothAddendumToLetterAgreementsMember_zBlwBJZX4cjh" title="Share issued">350</span> shares and amending the Company’s registration statement on Form S-1 filed with the SEC on December 29, 2023 to include the initial <span id="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20240202__20240202__us-gaap--TypeOfArrangementAxis__custom--RothAddendumToLetterAgreementsMember_zGZE05Xa9xhd" title="Share issued">350</span> shares to be issued, and <span id="xdx_90C_ecustom--StockIssuedDuringPeriodSharesAdditionalShares_c20240202__20240202__us-gaap--TypeOfArrangementAxis__custom--RothAddendumToLetterAgreementsMember_zn4La4NKEdLa" title="Stock issued during period shares additional shares">12,000</span> shares that may be issued as additional shares, as defined in the Addendum, to Roth, and (2) on or before June 30, 2024, the Company shall pay to Roth an amount in cash equal to $<span id="xdx_90C_eus-gaap--PaymentsToAcquireBusinessesNetOfCashAcquired_c20240202__20240202__us-gaap--TypeOfArrangementAxis__custom--RothAddendumToLetterAgreementsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zal4XNJkNhL9" title="Shares issued for acquisition">300,000</span> (the “Cash Fee”); provided that, if, as a result of the Company’s cash position at such time, the Company determines in its reasonable discretion that the cash payment should not be made in cash, then the Company may elect to satisfy the cash payment by issuing to Roth, within three business days of such date, additional shares.</span> The number of shares to be issued pursuant to the Addendum shall be determined by dividing the amount of the cash payment by the VWAP for the trading day immediately preceding the cash payment date. On September 6, 2024, the Company issued <span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20240906__20240906__us-gaap--TypeOfArrangementAxis__custom--RothAddendumToLetterAgreementsMember_zkby3cKLRNSl" title="Share issued">3,529</span> shares to Roth in lieu of the Cash Fee. The shares are exempt from registration pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended, and are to be issued as restricted stock with an appropriate restrictive legend. <span id="xdx_90E_eus-gaap--GainsLossesOnExtinguishmentOfDebt_do_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--RothAddendumToLetterAgreementsMember_zEEs6mG5fJ21" title="Gain (loss) on extinguishment of liability">No</span> gain or loss was recognized upon the settlement of the outstanding debt and all obligations to Roth have been relieved as of December 31, 2024.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Amended and Restated Repayment Agreement with J.V.B Financial Group, LLC</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 9, 2024, the Company entered into a Repayment Agreement (the “Original J.V.B Agreement”) with J.V.B Financial Group, LLC (“J.V.B”) acting through Cohen &amp; Company Capital Markets Division (“Cohen”), pursuant to which the parties agreed that for services previously rendered valued at $<span id="xdx_901_eus-gaap--DebtInstrumentFaceAmount_iI_c20240909__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--JVBFinancialGroupLlcMember__us-gaap--TypeOfArrangementAxis__custom--AmendedAndRestatedRepaymentAgreementMember_z3LxQPXyePG2" title="Debt instrument, face amount">115,000</span> (the “Outstanding Debt”), the Company shall issue J.V.B. unrestricted, freely-trading, registered shares of Common Stock pursuant to a resale registration statement on Form S-1 or S-3. On September 9, 2024, the Company and J.V.B. entered into an Amended and Restated Repayment Agreement (the “Amended J.V.B Agreement”) that allowed for the Outstanding Debt to be paid through the issuance of <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20240909__20240909__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--JVBFinancialGroupLlcMember__us-gaap--TypeOfArrangementAxis__custom--AmendedAndRestatedRepaymentAgreementMember_zmoF2u2EUfo4" title="Share issued">2,908</span> shares to J.V.B. As of December 31, 2024, the Company has issued <span id="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--JVBFinancialGroupLlcMember__us-gaap--TypeOfArrangementAxis__custom--AmendedAndRestatedRepaymentAgreementMember_zXVv97RBqpwb" title="Share issued">2,908</span> shares to J.V.B. in exchange for the cancellation of the Outstanding Debt. <span id="xdx_901_eus-gaap--GainsLossesOnExtinguishmentOfDebt_do_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--JVBFinancialGroupLlcMember_zcBQgjYsXKml" title="Gain (loss) on extinguishment of liability">No</span> gain or loss was recognized upon the settlement of the outstanding debt and all obligations to J.V.B. have been relieved as of December 31, 2024.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Agreement with Alco</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 19, 2024, the Company and Alco agreed to convert an aggregate balance of $<span id="xdx_90E_eus-gaap--LoansPayableCurrent_iI_c20240919__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlcoMember__us-gaap--TypeOfArrangementAxis__custom--ConversionAndSettlementMember_z4dkFdUAebJb" title="Loans payable current">4,711,681</span> of debt, representing the aggregate total balance outstanding to Alco as of that date (excl. the carrying value of debt discounts), into <span id="xdx_903_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20240919__20240919__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlcoMember__us-gaap--TypeOfArrangementAxis__custom--ConversionAndSettlementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z1CsNcMfcVEk" title="Share issued">28,242</span> shares of Class A Common Stock, Warrants to purchase up to <span id="xdx_90B_ecustom--WarrantsIssued_c20240919__20240919__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlcoMember__us-gaap--TypeOfArrangementAxis__custom--ConversionAndSettlementMember__srt--RangeAxis__srt--MaximumMember_z9ifcO6NIlE6" title="Warrants issued">133,134</span> shares of Class A Common Stock and Pre-Funded Warrants to purchase up to <span id="xdx_901_ecustom--WarrantsIssued_c20240919__20240919__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlcoMember__us-gaap--TypeOfArrangementAxis__custom--ConversionAndSettlementMember__srt--RangeAxis__srt--MaximumMember__us-gaap--ClassOfWarrantOrRightAxis__custom--PreFundedWarrantMember_zsTjbdmjndd3" title="Warrants issued">104,892</span> shares of Class A Common Stock (collectively, the “Alco Securities”), and in full settlement of the balance outstanding to Alco. The Company recognized the issuance of the Alco Securities, on <span id="xdx_908_eus-gaap--DebtConversionConvertedInstrumentIssuanceDateDayMonthAndYear_c20240919__20240919__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlcoMember__us-gaap--TypeOfArrangementAxis__custom--ConversionAndSettlementMember_zSqG9fZEEAV3" title="Alco securities, issuance date">September 19, 2024</span>, in full settlement of all amounts owing to Alco. The grant date fair value of the Class A Common Stock, Warrants to purchase shares of Class A Common Stock and Pre-Funded Warrants to purchase shares of Class A Common Stock, were determined to be $<span id="xdx_908_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20240919__20240919__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlcoMember__us-gaap--TypeOfArrangementAxis__custom--ConversionAndSettlementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zwx332erOitj" title="Fair value of shares issued">1,098,614</span>, $<span id="xdx_90C_ecustom--WarrantsIssuanceGrantDateFairValue_c20240919__20240919__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlcoMember__us-gaap--TypeOfArrangementAxis__custom--ConversionAndSettlementMember_zxXe0zAXGFH7" title="Grant date fair value of warrants issued">3,687,812</span>, and $<span id="xdx_90A_ecustom--WarrantsIssuanceGrantDateFairValue_c20240919__20240919__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlcoMember__us-gaap--TypeOfArrangementAxis__custom--ConversionAndSettlementMember__us-gaap--ClassOfWarrantOrRightAxis__custom--PreFundedWarrantMember_zrrj0HSx9rie" title="Grant date fair value of warrants issued">4,080,194</span>, respectively. As a result of this transaction, the Company recognized a loss on extinguishment of $<span id="xdx_906_eus-gaap--GainsLossesOnExtinguishmentOfDebt_c20240923__20240923__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlcoMember__us-gaap--TypeOfArrangementAxis__custom--ConversionAndSettlementMember_zfyjcqe89uaa" title="Gain (loss) on extinguishment of liability">4,808,882</span>, as of September 23, 2024, which was recognized as Loss on conversion and settlement of Alco promissory notes per the consolidated statement of operations for the year ended December 31, 2024.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Repayment Agreement with Perkins Coie LLP</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 9, 2024, the Company entered into a Repayment Agreement (the “Perkins Repayment Agreement”) where the Company agreed to issue $<span id="xdx_902_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20240909__20240909__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--PerkinsCoieLlpMember_zHOd3feMhiwh" title="Stock issued during period value new issues">1,385,000</span> worth of shares, which the Company shall register no fewer than <span id="xdx_900_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20240909__20240909__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--PerkinsCoieLlpMember__srt--RangeAxis__srt--MinimumMember_zgpRl8EqyOE" title="Stock issued">46,000</span> shares, subject to adjustment, in a registration statement on Form S-1 within <span id="xdx_900_ecustom--RegistrationRightsAgreementRequiredFilingTerm_dtD_c20240909__20240909__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--PerkinsCoieLlpMember_zzmsdO1ITuy8" title="Registration rights agreement, required filing term">60</span> days of entering into the Perkins Repayment Agreement, and will use reasonable best efforts to ensure the Registration Statement becomes effective promptly and remains effective until all shares issued under the Perkins Repayment Agreement are sold. The Company’s registration statement on Form S-1 was filed with the SEC on October 16, 2024 and became effective on November 6, 2024. As of December 31, 2024, the Company has issued <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesOther_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--PerkinsCoieLlpMember_zuMTG5kk0WIe" title="Stock issued">60,000</span> shares to Perkins to settle part of the outstanding liability balance. The remaining unpaid fee balance to be paid with the issuance of additional shares has not yet been made as of the date of filing of these consolidated financial statements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Activate Agreement</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company owed Activate, Inc. $<span id="xdx_90D_ecustom--PayableForServices_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ActivateAgreementMember_zx5iyGimmRt8" title="Payable for services">261,200</span> for past services rendered. The parties agreed to write off <span id="xdx_907_ecustom--AgreementWriteOffPercentage_pid_dp_uPure_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ActivateAgreementMember_zJRRToAhVmzf" title="Agreed to write off percentage">50</span>% of that balance and for the remaining balance to be paid at the close of the Company’s next capital raise. During the year ended December 31, 2024, the Company recorded a gain on settlement of $<span id="xdx_902_eus-gaap--GainsLossesOnExtinguishmentOfDebt_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ActivateAgreementMember_z3S18VtLnVZ5" title="Gain (loss) on extinguishment of liability">130,500</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Repayment Agreement with Cooley LLP</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 19, 2024 the Company entered into a Repayment Agreement with Cooley LLP (“Cooley”) for previously provided legal services (the “Cooley Repayment Agreement”). Under the Cooley Repayment Agreement, the Company’s outstanding fees have been lowered from $<span id="xdx_906_eus-gaap--DebtInstrumentFeeAmount_iI_c20240919__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CooleyLlpMember__srt--RangeAxis__srt--MaximumMember_zpTEVnKYePC7" title="Debt instrument fee amount">1,523,029</span> to $<span id="xdx_901_eus-gaap--DebtInstrumentFeeAmount_iI_c20240919__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CooleyLlpMember__srt--RangeAxis__srt--MinimumMember_zM9ZN92WVk7l" title="Debt instrument fee amount">400,000</span> (the “Cooley Unpaid Fee”) in exchange for <span id="xdx_90B_eus-gaap--DebtInstrumentFrequencyOfPeriodicPayment_c20240919__20240919__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CooleyLlpMember_z5SFC3ywcL18" title="Periodic installments payment">11</span> monthly installments of $<span id="xdx_908_eus-gaap--DebtInstrumentPeriodicPayment_c20240919__20240919__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CooleyLlpMember_zGYBC6skMWTc" title="Debt instrument periodic payment">36,300</span>, with the first payment to be made on <span id="xdx_905_eus-gaap--DebtInstrumentDateOfFirstRequiredPayment1_dd_c20240919__20240919__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CooleyLlpMember_zj8Y9bateREl" title="Debt instrument date of first required payment">October 1, 2024</span>. If payments are not made in accordance with the Repayment Agreement, Cooley retains the right to seek to collect the entire original outstanding fee balance. As such, in accordance with ASC 470-60, <span id="xdx_908_eus-gaap--GainsLossesOnExtinguishmentOfDebt_do_c20240919__20240919__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CooleyLlpMember_z9F2eCX1YN31" title="Gain losses on extinguishment of debt">no</span> gain on settlement will be recorded until all payments have been made as required and the potential obligation to pay the amounts written off are eliminated.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Settlement Letter with CohnReznick LLP</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 19, 2024, the Company entered into a Settlement Letter with CohnReznick LLP (“CohnReznick”) regarding the Company’s unpaid balance totaling $<span id="xdx_906_eus-gaap--DebtInstrumentFaceAmount_iI_c20240919__us-gaap--TypeOfArrangementAxis__custom--SettlementLetterMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohnReznickLlpMember_zEgQSaqsMUA4" title="Debt instrument face amount">817,400</span> for services rendered in connection with the 7GC business combination with the Company (the “Settlement Letter”). Under the Settlement Letter, the Company and CohnReznick agreed to settle the total unpaid balance due, upon CohnReznick’s receipt of $<span id="xdx_90A_eus-gaap--ObligationWithJointAndSeveralLiabilityArrangementAmountReceivable_iI_c20240919__us-gaap--TypeOfArrangementAxis__custom--SettlementLetterMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohnReznickLlpMember_zaiOuGzrM9gc" title="Receiptable amount">450,000</span> (the “Settlement Amount”), which will be paid in <span id="xdx_90F_eus-gaap--DebtInstrumentFrequencyOfPeriodicPayment_c20240919__20240919__us-gaap--TypeOfArrangementAxis__custom--SettlementLetterMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohnReznickLlpMember_zVuyLRYfumM6" title="Debt instrument frequency of periodic payment">15</span> equal monthly installments of $<span id="xdx_90B_eus-gaap--DebtInstrumentPeriodicPayment_c20240919__20240919__us-gaap--TypeOfArrangementAxis__custom--SettlementLetterMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohnReznickLlpMember_zCdAkZSZfIbg" title="Debt instrument periodic payment">30,000</span>. In consideration of the Settlement Letter, CohnReznick has agreed to not to pursue collection efforts now or at any time in the future, except as otherwise provided in the Settlement Letter. If payments are not made in accordance with the Settlement Letter, the unpaid portion of the total unpaid balance will immediately become due and payable.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As such, in accordance with ASC 470-60, <span id="xdx_90D_eus-gaap--GainsLossesOnExtinguishmentOfDebt_do_c20240919__20240919__us-gaap--TypeOfArrangementAxis__custom--SettlementLetterMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CohnReznickLlpMember_z6qEP2bjDJC2" title="Gain losses on extinguishment of debt">no</span> gain on settlement will be recorded until all payments have been made as required and the potential obligation to pay the amounts written off are eliminated.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Repayment Agreement with Sidley Austin LLP</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 19, 2024, the Company entered into a Repayment Agreement with Sidley Austin LLP (“Sidley”) for previously provided legal services (the “Sidley Repayment Agreement”). Under the Sidley Repayment Agreement, the Company’s outstanding fees have been lowered from $<span id="xdx_90C_eus-gaap--DebtInstrumentFeeAmount_iI_c20240919__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SidleyAustinLlpMember__srt--RangeAxis__srt--MaximumMember_zfIzSRb70XQ2" title="Debt instrument fee amount">4,815,979</span> to $<span id="xdx_901_eus-gaap--DebtInstrumentFeeAmount_iI_c20240919__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SidleyAustinLlpMember__srt--RangeAxis__srt--MinimumMember_zPgTFywVhwoa" title="Debt instrument fee amount">1,605,326</span> (the “Sidley Unpaid Fee”). Under the Sidley Repayment Agreement, the Company agrees to <span id="xdx_907_eus-gaap--DebtInstrumentFrequencyOfPeriodicPayment_c20240919__20240919__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SidleyAustinLlpMember_zO4zrpeJGzXf" title="Debt instrument frequency of periodic payment">12</span> monthly payments that Sidley applies to the balance of the Sidley Unpaid Fee on a 2 for 1 basis, such that for every one dollar ($1.00) paid by Company, Sidley shall reduce the Sidley Unpaid Fee Amount by an additional two dollars ($2.00). If payments are not made in accordance with the Sidley Repayment Agreement, the shortfall shall accrue interest at a rate of <span id="xdx_90B_ecustom--ShortfallAccrueInterestRate_pid_dp_uPure_c20240919__20240919__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SidleyAustinLlpMember_zrv2lzlOyn4f" title="Shortfall accrue interest rate">12</span>% per annum, compounded daily, until such payment is made. As such, in accordance with ASC 470-60, <span id="xdx_90C_eus-gaap--GainsLossesOnExtinguishmentOfDebt_do_c20240919__20240919__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SidleyAustinLlpMember_zJJJ8DMIKAjl" title="Gain losses on extinguishment of debt">no</span> gain on settlement will be recorded until all payments have been made as required and the potential obligation to pay the amounts written off are eliminated.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Repayment Agreement with Donnelley Financial LLC</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 13, 2024, the Company entered into a Repayment Agreement with Donnelley Financial LLC (“Donnelley”) for previously provided services (the “Donnelley Repayment Agreement”). Under the Donnelley Repayment Agreement, the Company’s outstanding fees have been lowered from $<span id="xdx_90E_eus-gaap--DebtInstrumentFeeAmount_iI_c20240913__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DonnelleyFinancialLlcMember__srt--RangeAxis__srt--MaximumMember_zTFhFT9CojZf" title="Debt instrument fee amount">1,072,148</span> to $<span id="xdx_908_eus-gaap--DebtInstrumentFeeAmount_iI_c20240913__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DonnelleyFinancialLlcMember__srt--RangeAxis__srt--MinimumMember_zAGbqQQvKSVl" title="Debt instrument fee amount">357,025</span> (the “Donnelley Unpaid Fee”). The Donnelley Unpaid Fee will be paid in <span id="xdx_901_eus-gaap--DebtInstrumentFrequencyOfPeriodicPayment_c20240913__20240913__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DonnelleyFinancialLlcMember_zbLmF3vPRjLg" title="Debt instrument frequency of periodic payment">12 monthly installments</span>, with the first monthly payment of $<span id="xdx_90E_eus-gaap--DebtInstrumentPeriodicPayment_c20240913__20240913__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DonnelleyFinancialLlcMember_zI7r2FWrfbqh" title="Debt instrument periodic payment">45,000</span> due on October 1, 2024; the remaining 11 payments shall each be in the amount of $<span id="xdx_90F_ecustom--RemainingMonthlyInstallmentAmount_c20240913__20240913__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DonnelleyFinancialLlcMember_zo56KP5nMx3c" title="Remaining monthly installment amount">28,366</span>. Under the Donnelly Repayment Agreement, the original outstanding fee balance shall become immediately due and payable upon the occurrence of certain events, including failure to make a payment of the Donnelly Unpaid Fee when due and failure to pay for any additional services. As such, in accordance with ASC 470-60, <span id="xdx_901_eus-gaap--GainsLossesOnExtinguishmentOfDebt_do_c20240913__20240913__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SidleyAustinLlpMember_zYXl5xtEc2e8" title="Gains losses on extinguishment of debt">no</span> gain on settlement will be recorded until all payments have been made as required and the potential obligation to pay the amounts written off are eliminated.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Repayment Agreement with Verista Partners, Inc.</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On August 26, 2024, the Company entered into a Repayment Agreement with Verista Partners, Inc. aka Winterberry Group, (“Verista” or “Winterberry”) for previously provided services (the “Verista Repayment Agreement”). Under the Verista Repayment Agreement, the Company’s outstanding fees are $<span id="xdx_906_eus-gaap--DebtInstrumentFeeAmount_iI_c20240826__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--VeristaPartnersIncMember__srt--RangeAxis__srt--MaximumMember_z9xevlEqj6E8" title="Debt instrument fee amount">196,666</span> (the “Verista Unpaid Fee”). The Company and Verista have agreed that the Verista Unpaid Fee will be repaid with $<span id="xdx_907_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20240826__20240826__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--VeristaPartnersIncMember_zw0DOpFyd4Lc" title="Stock issued during period value new issues">66,666</span> worth of shares of the Company, and $<span id="xdx_90E_ecustom--DebtInstrumentFeeRemainingAmount_iI_c20240826__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--VeristaPartnersIncMember_zLpm0b2ERr2f" title="Debt instrument fee remaining amount">130,000</span> in <span id="xdx_90E_eus-gaap--DebtInstrumentFrequencyOfPeriodicPayment_c20240826__20240826__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--VeristaPartnersIncMember_ziM6sXGKRp7d" title="Debt instrument frequency of periodic payment">16</span> equal cash installment payments of $<span id="xdx_909_ecustom--RemainingMonthlyInstallmentAmount_c20240826__20240826__us-gaap--TypeOfArrangementAxis__custom--RepaymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--VeristaPartnersIncMember_zghS4lfcojYg" title="Remaining monthly installment amount">8,125</span>, beginning on October 1, 2024, and on the first day of each month thereafter through January 1, 2026. As of December 31, 2024, the Company has not issued any shares or installment payments to Verista.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Legal Matters</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the regular course of business affairs and operations, the Company is subject to possible loss contingencies arising from third-party litigation and federal, state, and local environmental, labor, health and safety laws and regulations. The Company assesses the probability that they may incur a liability in connection with certain of these lawsuits. The Company’s assessments are made in accordance with generally accepted accounting principles, as codified in ASC 450-20, and is not an admission of any liability on the part of the Company or any of its subsidiaries. In certain cases that are in the early stages and in light of the uncertainties surrounding them, the Company does not currently possess sufficient information to determine a range of reasonably possible liability.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Yorkville</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 30, 2024, the Company issued an Advance Notice to Yorkville pursuant to the SEPA in which the Company requested the purchase of <span id="xdx_908_ecustom--PurchaseOfCommonSharesRequested_iI_c20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_zL011QoCSM" title="Purchase of common shares requested">65,000</span> shares of the Company’s Class A Common Stock. The Advance Notice was, at the Company’s election, subject to the Option 2 Pricing Period (See <i>Note 18 - Equity</i>) provisions of the SEPA, and was accordingly not settled until January 3, 2025. Upon issuance of the Advance Notice, the Company became obligated to sell up to the requested number of shares, and had an outstanding obligation to sell up to <span id="xdx_902_ecustom--OutstandingObligationToSell_iI_c20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember__srt--RangeAxis__srt--MaximumMember_z2pmbQ4T2Hb4" title="Outstanding obligation to sell">65,000</span> shares of Class A Common Stock as of December 31, 2024.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> P2Y9M29D <p id="xdx_898_eus-gaap--LeaseCostTableTextBlock_zl2gi7bGrexb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The components of lease expense for the years ended December 31, 2024 and 2023, are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="display: none"><span id="xdx_8BD_zNfTwPMtEyVk">Schedule of Components of Lease Expense</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Components of lease expense:</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20240101__20241231_zBng0lZou9Pj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20230101__20231231_zBh8cMEx13p8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Year Ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--LeaseCostAbstract_iB_zMfpeRILTrka" style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Components of lease expense:</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--OperatingLeaseCost_i01_zMqoTbTXtMwb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Operating lease cost</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">145,674</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">199,611</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--SubleaseIncome_i01N_di_zLTPsKY4HnQl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Sublease income</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(117,084</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(204,324</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--LeaseCost_i01T_z0XbD1wXFpdd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total lease (income) cost</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">28,590</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(4,713</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> 145674 199611 117084 204324 28590 -4713 <p id="xdx_899_ecustom--ScheduleOfSupplementalCashFlowInformationRelatedToLeasesTableTextBlock_zt1Wq0G37su" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Supplemental cash flow information related to leases are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="display: none"><span id="xdx_8BC_zXwnx0PsDQEg">Schedule of Supplemental Cash Flow Information Related to Leases</span></span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Supplemental cash flow information:</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20240101__20241231_zVAAhK8IkkB6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20230101__20231231_zs74kYYqEFcd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Year Ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Supplemental cash flow information:</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40B_eus-gaap--CashFlowOperatingActivitiesLesseeAbstract_iB_zllgZCmNeWqf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Cash paid for amounts included in the measurement of lease liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OperatingLeaseRightOfUseAssetAmortizationExpense_i01_zE95hUt6d0Ib" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left; padding-left: 10pt">Non-cash lease expense (operating cash flow)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">137,717</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">173,245</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--IncreaseDecreaseInOperatingLeaseLiability_i01_z6UmEiyeTXva" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Change in lease liabilities (operating cash flow)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(237,607</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(284,963</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_ecustom--OperatingLeaseRightOfUseAssetsObtainedInExchangeForLeaseObligationsAbstract_iB_zVRpdLLTleef" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Right of use assets obtained in exchange for lease obligations:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability_i01_zXU8Ss7yT5U9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Operating leases</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">76,269</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl6444">—</span></td><td style="text-align: left"> </td></tr> </table> 137717 173245 -237607 -284963 76269 <p id="xdx_894_ecustom--ScheduleOfSupplementalBalanceSheetInformationRelatedToLeasesTableTextBlock_zA2nkL0dQmv9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Supplemental balance sheet information related to leases was as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="display: none"><span id="xdx_8B0_zCdZrUV5uAhl">Schedule of Supplemental Balance Sheet Information Related to Leases</span></span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr id="xdx_40D_eus-gaap--LeasesOperatingAbstract_iB_zkc6GSx3Xbz7" style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Operating leases:</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20241231_zyOKIso6ozs9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20231231_zU5zQ3KgU9T6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--OperatingLeaseRightOfUseAsset_i01I_zA1Co7q8crK2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left; padding-bottom: 1pt">Operating lease right-of-use assets</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">72,565</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">134,013</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--OperatingLeaseLiabilityCurrent_i01I_zCCJ1kmMarRj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Operating lease liability, current</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22,731</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">234,043</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--OperatingLeaseLiabilityNoncurrent_i01I_zARyMijWR7hh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Operating lease liability, non-current</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">49,974</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl6456">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OperatingLeaseLiability_i01I_zeWnIUOqqRe5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total operating lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">72,705</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">234,043</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr id="xdx_401_ecustom--WeightedAverageRemainingLeaseTermAbstract_iB_z2WEy8SjWv0f" style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Weighted-average remaining lease term:</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Operating leases (in years)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_906_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20241231_zMC7C71bG4p3" title="Operating leases (in years)">2.83</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_900_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20231231_zLysO6PQCuGb" title="Operating leases (in years)">0.76</span></td><td style="width: 1%; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr id="xdx_40E_ecustom--WeightedAverageDiscountRateAbstract_iB_zXymlY5TMFP3" style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Weighted-average discount rate:</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Operating leases</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_i01I_pid_dp_uPure_c20241231_zdUllunJ8FWf" style="width: 16%; text-align: right" title="Operating leases">9.40</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_i01I_pid_dp_uPure_c20231231_zFLhz9GQIvJl" style="width: 16%; text-align: right" title="Operating leases">6.76</td><td style="width: 1%; text-align: left">%</td></tr> </table> 72565 134013 22731 234043 49974 72705 234043 P2Y9M29D P0Y9M3D 0.0940 0.0676 <p id="xdx_89F_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_zYfljJse4yk9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Future minimum lease payments under non-cancellable lease as of December 31, 2024, are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="display: none"><span id="xdx_8BD_zavWdYYbbRf9">Schedule of Future Minimum Lease Payments Under Non-Cancellable Lease</span></span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr id="xdx_40D_eus-gaap--OperatingLeaseLiabilitiesPaymentsDueAbstract_iB_zTgo7P53QHnh" style="vertical-align: bottom"> <td style="text-align: left; font-weight: bold">Maturities of lease liabilities:</td><td> </td> <td colspan="2" id="xdx_492_20241231_z7R5weLC31h9" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Year Ending December 31,</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_i01I_maLOLLPzX96_zoFx5SlhHQ08" style="vertical-align: bottom; background-color: White"> <td style="width: 80%; text-align: left">2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">28,608</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_i01I_maLOLLPzX96_zDbbJbouU5yi" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left">Year I</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">28,608</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_i01I_maLOLLPzX96_zCbZdIbpsfif" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">29,466</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_i01I_maLOLLPzX96_z4IxUnHbbv55" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> Year II</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">29,466</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_i01I_maLOLLPzX96_zmBxVb9TlJBf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">25,167</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_i01I_maLOLLPzX96_znsEOhzmjJf3" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left">Year III</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">25,167</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearThree_i01I_maLOLLPzX96_zyeNnL7TKHyi" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left">Year III and thereafter</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_i01I_maLOLLPzX96_ziN3A6DuIU56" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl6492">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_i01I_maLOLLPzX96_zJk2O8DX1va5" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Year IV</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl6494">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour_i01I_maLOLLPzX96_zhnwcLVha0eh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">2029 and thereafter</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl6496">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour_i01I_maLOLLPzX96_z4jcqq7wU759" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Year IV and thereafter</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl6498">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_i01TI_mtLOLLPzX96_zaAV5FrkAuJh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Total undiscounted cash flows</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">83,241</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_i01NI_di_z1foTwQMGtad" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less discounting</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(10,536</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--OperatingLeaseLiability_i01I_zYOS15SoXnnf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Present value of lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">72,705</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 28608 28608 29466 29466 25167 25167 83241 10536 72705 8050000 4050000 8050000 4000000 2400 12500 0.05 P6M P6M P60D 2400 where the Company agreed to pay the fees owed under the Roth Agreement and 7GC Agreement by (1) issuing to Roth 350 shares and amending the Company’s registration statement on Form S-1 filed with the SEC on December 29, 2023 to include the initial 350 shares to be issued, and 12,000 shares that may be issued as additional shares, as defined in the Addendum, to Roth, and (2) on or before June 30, 2024, the Company shall pay to Roth an amount in cash equal to $300,000 (the “Cash Fee”); provided that, if, as a result of the Company’s cash position at such time, the Company determines in its reasonable discretion that the cash payment should not be made in cash, then the Company may elect to satisfy the cash payment by issuing to Roth, within three business days of such date, additional shares. 350 350 12000 300000 3529 0 115000 2908 2908 0 4711681 28242 133134 104892 2024-09-19 1098614 3687812 4080194 4808882 1385000 46000 P60D 60000 261200 0.50 130500 1523029 400000 11 36300 2024-10-01 0 817400 450000 15 30000 0 4815979 1605326 12 0.12 0 1072148 357025 12 monthly installments 45000 28366 0 196666 66666 130000 16 8125 65000 65000 <p id="xdx_80F_eus-gaap--StockholdersEquityNoteDisclosureTextBlock_zbUzUNOSKQBi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>18. <span id="xdx_829_zeMb3iHPCbFg">Equity</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Class A and B Common Stock</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company is authorized to issue up to <span id="xdx_90B_eus-gaap--CommonStockSharesAuthorized_iI_pid_c20241231__srt--RangeAxis__srt--MaximumMember_zQuRiAbOwMAj" title="Common stock, shares authorized">275,000,000</span> shares, consisting of <span id="xdx_903_eus-gaap--CommonStockSharesAuthorized_iI_pid_c20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z1aad7XFOzJ6" title="Common stock, shares authorized">250,000,000</span> Class A Common Stock, and <span id="xdx_902_eus-gaap--CommonStockSharesAuthorized_iI_pid_c20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zzwjevHrGIJ1" title="Common stock, shares authorized">25,000,000</span> shares of Class B Common Stock par value $<span id="xdx_900_eus-gaap--CommonStockParOrStatedValuePerShare_iI_pid_c20241231_zCUU1zJv4aU8" title="Common stock, par value">0.0001</span> per share.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As discussed in <i>Note 4 - Reverse Merger Capitalization with 7GC &amp; Co. Holdings Inc.</i>, the Company has retroactively adjusted the shares issued and outstanding prior to December 14, 2023 to give effect to the Exchange Ratio to determine the number of shares of Company Common Stock into which they were converted.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_908_eus-gaap--CommonStockVotingRights_c20240101__20241231_zudoE24bLbhf" title="Common stock voting rights">The Class A Common Stock and Class B Common Stock entitle their holders to one vote per share and ten votes per share, respectively, on each matter properly submitted to the stockholders entitled to vote thereon.</span> The holders of shares of Common Stock shall be entitled to receive dividends declared by the Board of Directors, on a pro rata basis based on the number of shares of Common Stock held by each such holder, assuming conversion of all Class B Common Stock into Class A Common Stock at a one to one conversion ratio.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There were <span id="xdx_906_eus-gaap--CommonStockSharesIssued_iI_pid_c20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--ReverseStockSplitMember_zWgrNtJELLB" title="Common stock, shares issued"><span id="xdx_90B_eus-gaap--CommonStockSharesOutstanding_iI_pid_c20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--ReverseStockSplitMember_zJEVMug22DGk" title="Common stock, shares outstanding">819,516</span></span> shares (<span id="xdx_90E_eus-gaap--CommonStockSharesIssued_iI_pid_c20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--AwardTypeAxis__custom--ReverseStockSplitMember_zNCFoo4JQkRg" title="Common stock, shares issued"><span id="xdx_901_eus-gaap--CommonStockSharesOutstanding_iI_pid_c20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--AwardTypeAxis__custom--ReverseStockSplitMember_zjkQadAYVzcf" title="Common stock, shares outstanding">588,403</span></span> Class A Common Stock and <span id="xdx_90C_eus-gaap--CommonStockSharesIssued_iI_pid_c20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--AwardTypeAxis__custom--ReverseStockSplitMember_z1WVRpIrSHob" title="Common stock, shares issued"><span id="xdx_90C_eus-gaap--CommonStockSharesOutstanding_iI_pid_c20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--AwardTypeAxis__custom--ReverseStockSplitMember_zMLc8grGWNYg" title="Common stock, shares outstanding">231,113</span></span> Class B Common Stock) issued and outstanding at December 31, 2024 and <span id="xdx_905_eus-gaap--CommonStockSharesIssued_iI_pid_c20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zJq4TJ0IHjNh" title="Common stock, shares issued"><span id="xdx_901_eus-gaap--CommonStockSharesOutstanding_iI_pid_c20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zFbFb5OepXS9" title="Common stock, shares outstanding">258,529</span></span> shares (<span id="xdx_900_eus-gaap--CommonStockSharesIssued_iI_pid_c20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zFJ4Cm6XAmeg" title="Common stock, shares issued"><span id="xdx_905_eus-gaap--CommonStockSharesOutstanding_iI_pid_c20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zA6RbYzYBvpg" title="Common stock, shares outstanding">27,416</span></span> Class A Common Stock and <span id="xdx_903_eus-gaap--CommonStockSharesIssued_iI_pid_c20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_z3VYaCrIIvXh" title="Common stock, shares issued"><span id="xdx_90C_eus-gaap--CommonStockSharesOutstanding_iI_pid_c20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_ztZVmawedCZc" title="Common stock, shares outstanding">231,113</span></span> Class B Common Stock) issued and outstanding at December 31, 2023.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>May 22, 2024 Equity Financing</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On May 22, 2024, Banzai entered into a securities purchase agreement with accredited investors, providing for the issuance and sale of 10,456 shares of the Company’s Class A Common Stock (“Common Stock”), pre-funded warrants, exercisable into <span id="xdx_902_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20240522__us-gaap--ClassOfWarrantOrRightAxis__custom--PreFundedWarrantMember__us-gaap--SubsidiarySaleOfStockAxis__custom--MayTwoThousandTwentyFourOfferingMember_zEnka4YVO7Zb" title="Warrants exerciseable">17,322</span> shares of Class A Common Stock (the “Pre-Funded Warrants”), and common warrants exercisable into <span id="xdx_90A_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20240522__us-gaap--ClassOfWarrantOrRightAxis__custom--CommonWarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__custom--MayTwoThousandTwentyFourOfferingMember_z21uaZt62zd" title="Warrants exerciseable">27,778</span> shares of Class A Common Stock (the “Common Warrants”) in a registered direct offering priced at-the-market under Nasdaq rules for a purchase price of $<span id="xdx_90A_eus-gaap--SharesIssuedPricePerShare_iI_c20240522__us-gaap--SubsidiarySaleOfStockAxis__custom--MayTwoThousandTwentyFourOfferingMember_zV7Nu85JlUy5" title="Purchase price per share">90.00</span> per share (the “May 2024 Offering”). The Common Warrants have an exercise price of $<span id="xdx_900_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20240522__us-gaap--ClassOfWarrantOrRightAxis__custom--CommonWarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__custom--MayTwoThousandTwentyFourOfferingMember_zY6By7A0omkg" title="Warrant exercise price">90.00</span> per share and the Pre-Funded Warrants have an exercise price of $<span id="xdx_90B_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20240522__us-gaap--ClassOfWarrantOrRightAxis__custom--PreFundedWarrantMember__us-gaap--SubsidiarySaleOfStockAxis__custom--MayTwoThousandTwentyFourOfferingMember_zFqzzqVkVlAl" title="Warrant exercise price">0.05</span> per share, are exercisable immediately on the date of issuance (the “Initial Exercise Date”). The Common Warrants expire <span id="xdx_900_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dc_c20240522__us-gaap--ClassOfWarrantOrRightAxis__custom--CommonWarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__custom--MayTwoThousandTwentyFourOfferingMember_zJYClawIlSqg" title="Warrants expiration term">five years</span> from the Initial Exercise Date while the Pre-Funded Warrants do not expire. The aggregate gross proceeds to the Company from the May 2024 Offering were approximately $<span id="xdx_90A_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_pn5n6_c20240522__20240522__us-gaap--SubsidiarySaleOfStockAxis__custom--MayTwoThousandTwentyFourOfferingMember_zz09rXG3QrJ3" title="Aggregate gross proceeds from offering">2.5</span> million. The Company incurred approximately $<span id="xdx_909_ecustom--TransactionFees_pn5n6_c20240522__20240522__us-gaap--SubsidiarySaleOfStockAxis__custom--MayTwoThousandTwentyFourOfferingMember_zFF6GaV45WJk" title="Transaction fees">0.6</span> million of transaction fees which are recognized as a stock issuance cost and reflected as a reduction within additional paid-in capital. The net proceeds to the Company from the Private Placement were approximately $<span id="xdx_90F_eus-gaap--ProceedsFromIssuanceOfPrivatePlacement_pn5n6_c20240522__20240522__us-gaap--SubsidiarySaleOfStockAxis__custom--MayTwoThousandTwentyFourOfferingMember_zfwZXxEMV37l" title="Net proceeds from private placement">1.9</span> million. The Company used the net proceeds from the May 2024 Offering for working capital and general corporate purposes. The closing of the sale of these securities occurred on <span id="xdx_90D_eus-gaap--WarrantsAndRightsOutstandingMaturityDate_iI_dd_c20240522__us-gaap--SubsidiarySaleOfStockAxis__custom--MayTwoThousandTwentyFourOfferingMember_zah8VVHWXidd" title="Warrant maturity date">May 28, 2024</span>. The securities were issued pursuant to the Company’s registration statement on Form S-1/A filed with the SEC on May 16, 2024 (File No. 333-278871) and became effective on May 21, 2024. As of December 31, 2024 all Pre-Funded warrants were exercised.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A.G.P./Alliance Global Partners (“AGP”) acted as placement agent for the May 2024 Offering, pursuant to a placement agency agreement, dated May 22, 2024, between the Company and AGP (the “Placement Agency Agreement”). Under the Placement Agency Agreement, AGP received a fee in the form of (a) a cash fee equal to <span id="xdx_90A_ecustom--PercentageOfPlacementAgentFeeToTheAggregatePurchasePrice_pid_dp_uPure_c20240522__20240522__us-gaap--TypeOfArrangementAxis__custom--PlacementAgencyAgreementMember_zJ4qnCkUtWg2" title="Percentage of placement agent fee to the aggregate purchase price">7.0</span>% of the aggregate purchase price paid by each purchaser of securities that were sold in the May 2024 Offering (the “Cash Fee”); provided, however, that the Cash Fee was reduced by an amount equal to $<span id="xdx_909_ecustom--DecreaseInPlacementAgentFee_c20240522__20240522__us-gaap--TypeOfArrangementAxis__custom--PlacementAgencyAgreementMember_zvDdtx63sUPd" title="Decrease in placement agent fee">25,000</span> to be paid to the Company’s financial advisor, and (b) warrants (the “Placement Agent Warrants”) to purchase Class A Common Stock equal to <span id="xdx_904_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20240522__us-gaap--TypeOfArrangementAxis__custom--PlacementAgencyAgreementMember__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zVl4DDEbj3O3" title="Debt interest rate">6</span>% of the aggregate number of shares of Class A Common Stock sold in the May 2024 Offering at an exercise price per share equal to <span id="xdx_904_eus-gaap--DebtInstrumentInterestRateIncreaseDecrease_pid_dp_uPure_c20240522__20240522__us-gaap--TypeOfArrangementAxis__custom--PlacementAgencyAgreementMember__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z3Gro5cyDMJ8" title="Percentage of exercise price">110</span>% of the price per share of Class A Common Stock sold in the May 2024 Offering. The Company recognized the Placement Agent Warrants as a stock issuance cost as they are issued for services in connection with an offering.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company additionally incurred approximately $<span id="xdx_909_eus-gaap--LegalFees_c20240522__20240522_zl6NsjcpeGtd" title="Legal fees">409,000</span> of legal fees associated with the May 2024 Offering which is recognized as a stock issuance cost and reflected as a reduction within additional paid-in capital.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>May 22, 2024 Common Warrants</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As discussed above, on May 22, 2024, in conjunction with the issuance and sale of <span id="xdx_900_eus-gaap--SharesIssued_iI_c20240522__us-gaap--ClassOfWarrantOrRightAxis__custom--CommonWarrantsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__custom--MayTwoThousandTwentyFourOfferingMember_zi5iWgqgpna9" title="Shares issued">10,456</span> shares of the Company’s Class A Common Stock, the Company issued Common Warrants, exercisable into <span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20240522__us-gaap--ClassOfWarrantOrRightAxis__custom--CommonWarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__custom--MayTwoThousandTwentyFourOfferingMember_zt1tBrMSSegc" title="Warrants exerciseable">27,778</span> shares of Class A Common Stock, which did not meet the definition of a liability pursuant to ASC 480 and met all of the requirements for equity classification under ASC 815 as such were classified in stockholder’s equity. The measurement of fair value of the Common Warrants were determined utilizing a Black-Scholes model considering all relevant assumptions current at the date of issuance (i.e., share price of $<span id="xdx_906_eus-gaap--SaleOfStockPricePerShare_iI_c20240522__us-gaap--ClassOfWarrantOrRightAxis__custom--CommonWarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__custom--MayTwoThousandTwentyFourOfferingMember_zPQtePDF7tmg" title="Warrant issue price per share">90.00</span>, exercise price of $<span id="xdx_906_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20240522__us-gaap--ClassOfWarrantOrRightAxis__custom--CommonWarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__custom--MayTwoThousandTwentyFourOfferingMember_zoLhM0rYLiOk" title="Warrant exercise price">90.00</span>, term of <span id="xdx_906_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dc_c20240522__us-gaap--ClassOfWarrantOrRightAxis__custom--CommonWarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__custom--MayTwoThousandTwentyFourOfferingMember_zpiRrvfrBLil" title="Warrants expiration term">five years</span>, volatility of <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20240522__20240522__us-gaap--ClassOfWarrantOrRightAxis__custom--CommonWarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__custom--MayTwoThousandTwentyFourOfferingMember_zYRARiFXfKok" title="Volatility">87</span>%, risk-free rate of <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20240522__20240522__us-gaap--ClassOfWarrantOrRightAxis__custom--CommonWarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__custom--MayTwoThousandTwentyFourOfferingMember_zLHI1zxIyEGb" title="Risk free interest rate">4.6</span>%, and expected dividend rate of <span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_uPure_c20240522__20240522__us-gaap--ClassOfWarrantOrRightAxis__custom--CommonWarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__custom--MayTwoThousandTwentyFourOfferingMember_zxSiIXjHl4k9" title="Dividend rate">0</span>%). The relative fair value of these Common Warrants, net of issuance costs, on date of issuance was estimated to be approximately $<span id="xdx_903_eus-gaap--ProceedsFromIssuanceOfWarrants_c20240522__20240522__us-gaap--ClassOfWarrantOrRightAxis__custom--CommonWarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__custom--MayTwoThousandTwentyFourOfferingMember_zdrqyzSxd6Hh" title="Grant date fair value of warrants issued">722,000</span> and is reflected within additional paid-in capital.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>May 22, 2024 Pre-Funded Warrants</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As discussed above, on May 22, 2024, in conjunction with the issuance and sale of <span id="xdx_900_eus-gaap--SharesIssued_iI_c20240522__us-gaap--ClassOfWarrantOrRightAxis__custom--PreFundedWarrantMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__custom--MayTwoThousandTwentyFourOfferingMember_zb6iPM2Aqf2k" title="Shares issued">10,456</span> shares of the Company’s Class A Common Stock, the Company issued Pre-Funded Warrants, exercisable into <span id="xdx_90A_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20240522__us-gaap--ClassOfWarrantOrRightAxis__custom--PreFundedWarrantMember__us-gaap--SubsidiarySaleOfStockAxis__custom--MayTwoThousandTwentyFourOfferingMember_zyY8sCdltr5i" title="Warrants exerciseable">17,322 </span> shares of Class A Common Stock, which did not meet the definition of a liability pursuant to ASC 480 and met all of the requirements for equity classification under ASC 815 as such were classified in stockholder’s equity. were classified in stockholder’s equity. The measurement of fair value of the Pre-Funded Warrants were determined as the intrinsic value calculated as the Common Stock price on the issuance date minus the exercise price. The relative fair value of these Pre-Funded Warrants, net of issuance costs, on date of issuance was estimated to be approximately $<span id="xdx_908_eus-gaap--ProceedsFromIssuanceOfWarrants_c20240522__20240522__us-gaap--ClassOfWarrantOrRightAxis__custom--PreFundedWarrantMember__us-gaap--SubsidiarySaleOfStockAxis__custom--MayTwoThousandTwentyFourOfferingMember_znuuBi165TNe" title="Grant date fair value of warrants issued">660,000</span> and is reflected within additional paid-in capital. On May 28, 2024 the Pre-Funded warrants were exercised.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>May 22, 2024 Placement Agent Warrants</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As discussed above, on May 22, 2024, in conjunction with the issuance and sale of <span id="xdx_902_eus-gaap--SharesIssued_iI_c20240522__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__custom--MayTwoThousandTwentyFourOfferingMember_zx4WHAYlOCb5" title="Shares issued">10,456</span> shares of the Company’s Class A Common Stock and Pre-Funded Warrants, the Company issued Placement Agent Warrants, exercisable into <span id="xdx_907_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20240522__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__custom--MayTwoThousandTwentyFourOfferingMember_zZgzlM0ySgB4" title="Warrants exerciseable">1,667</span> shares of Class A Common Stock. As the Placement Agent Warrants were issued for services provided in facilitating the May 2024 Offering, the Company recorded the fair value of such Placement Agent Warrants of approximately $<span id="xdx_906_ecustom--WarrantsIssuanceGrantDateFairValue_c20240528__20240528__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__custom--MayTwoThousandTwentyFourOfferingMember_zcaLiu84vcjk" title="Grant date fair value of warrants issued">100,000</span> as a cost of capital on the issuance date. The measurement of fair value was determined utilizing a Black-Scholes model considering all relevant assumptions current at the date of issuance (i.e., share price of $<span id="xdx_906_eus-gaap--SaleOfStockPricePerShare_iI_c20240522__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__custom--MayTwoThousandTwentyFourOfferingMember_zhf8GYQBDt51" title="Warrant issue price per share">90.00</span>, exercise price of $<span id="xdx_905_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20240522__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__custom--MayTwoThousandTwentyFourOfferingMember_zwdz72RjESj" title="Warrant exercise price">90.00</span>, term of <span id="xdx_900_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dc_c20240522__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__custom--MayTwoThousandTwentyFourOfferingMember_zABCth7lfrul" title="Warrants expiration term">five years</span>, volatility of <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20240522__20240522__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__custom--MayTwoThousandTwentyFourOfferingMember_zFHkvBCdNRfc" title="Volatility">87</span>%, risk-free rate of <span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20240522__20240522__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__custom--MayTwoThousandTwentyFourOfferingMember_zTLENb4TuWte" title="Risk free interest rate">4.6</span>%, and expected dividend rate of <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_uPure_c20240522__20240522__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__custom--MayTwoThousandTwentyFourOfferingMember_zh2SLkKiJPkd" title="Dividend rate">0</span>%).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>September 24, 2024 Equity Financing</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 24, 2024, Banzai entered into a securities purchase agreement with an institutional investor for the issuance and sale in a private placement (the “Private Placement”) of (i) pre-funded warrants (“Q3 2024 Pre-Funded Warrants”) to purchase up to <span id="xdx_902_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20240924__us-gaap--ClassOfWarrantOrRightAxis__custom--PreFundedWarrantMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourOfferingMember_zkhxG84nNdi9" title="Warrants issued">117,647</span> shares of Common Stock, at an exercise price of $<span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20240924__us-gaap--ClassOfWarrantOrRightAxis__custom--PreFundedWarrantMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourOfferingMember_z5SaPAQ4an1l" title="Warrants exercise price">0.01</span> per share, (ii) Series A warrants (the “Series A Warrants”) to purchase up to <span id="xdx_909_eus-gaap--SharesIssued_iI_c20240924__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourOfferingMember_zc5V1zlcUpv4" title="Shares issued">117,647</span> shares of Common Stock, at an exercise price of $<span id="xdx_90C_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20240924__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesAWarrantsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourOfferingMember_zVARXBtX4gh6" title="Warrants exercise price">40.00</span> per share, and (iii) Series B warrants (the “Series B Warrants”) to purchase up to <span id="xdx_90C_eus-gaap--SharesIssued_iI_c20240924__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourOfferingMember__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesBWarrantsMember_zcIlLShnsI8e" title="Shares issued">117,647</span> shares of Common Stock at an exercise price of $<span id="xdx_900_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20240924__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesBWarrantsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourOfferingMember_zfnohv4TJEy4" title="Warrants exercise price">40.00</span> per share. The Series A Warrants are exercisable immediately upon issuance and have a term of exercise equal to <span id="xdx_903_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dc_c20240522__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesAWarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__custom--MayTwoThousandTwentyFourOfferingMember_zhFQLODIIeM1" title="Warrants expiration term">five years</span> from the date of issuance. The Series B Warrants are exercisable immediately upon issuance and have a term of exercise equal to eighteen (18) months from the date of issuance. The combined purchase price per Q3 2024 Pre-Funded Warrant and accompanying Series A Warrants and Series B Warrants was $<span id="xdx_909_eus-gaap--SharesIssuedPricePerShare_iI_c20240924__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourOfferingMember_zrxp1jsbGTW4" title="Purchase price per share">42.49</span>. The Private Placement closed on September 26, 2024. On September 26, 2024, the securities were issued pursuant to the Company’s registration statement on Form S-1 that was filed with the SEC on October 4, 2024 (File No. 333-282506) and became effective on November 6, 2024. The aggregate gross proceeds to the Company from the Private Placement were approximately $<span id="xdx_90A_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_pn5n6_c20240926__20240926__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourOfferingMember_zB7FXkFpSora" title="Aggregate gross proceeds from offering">5.0</span> million. The Company incurred approximately $<span id="xdx_90B_ecustom--TransactionFees_pn5n6_c20240926__20240926__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourOfferingMember_zV1gcqtuPaA7" title="Transaction fees">0.6</span> million of transaction fees which are recognized as a stock issuance cost and reflected as a reduction within additional paid-in capital. The net proceeds to the Company from the Private Placement were approximately $<span id="xdx_90F_ecustom--NetProceedsFromPrivatePlacement_pn5n6_c20240926__20240926__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourOfferingMember_zwhU4g5Rcgue" title="Net proceeds from private placement">4.4</span> million.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">H.C. Wainwright &amp; Co., LLC (“Wainwright”) acted as the Company’s exclusive placement agent in connection with the Private Placement, pursuant to that certain engagement letter, dated as of September 12, 2024, as amended, between the Company and Wainwright (the “Engagement Letter”). Pursuant to the Engagement Letter, the Company shall not sell equity securities without prior consent from Wainwright. The Company paid Wainwright (i) a total cash fee equal to <span id="xdx_909_ecustom--PercentageOfPlacementAgentFeeToTheAggregatePurchasePrice_pid_dp_uPure_c20240924__20240924__us-gaap--RelatedPartyTransactionAxis__custom--HCWainwrightAndCoLlcMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourOfferingMember_zhz3uYPPJ2Cj" title="Percentage of placement agent fee to the aggregate purchase price">7.5</span>% of the aggregate gross proceeds of the Private Placement (inclusive of the gross proceeds to be received from the exercise of any Warrants), (ii) a management fee of <span id="xdx_901_ecustom--PercentageOfManagementFee_pid_dp_uPure_c20240924__20240924__us-gaap--RelatedPartyTransactionAxis__custom--HCWainwrightAndCoLlcMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourOfferingMember_zk71eI8Jh3B8" title="Percentage of management fee">1.0</span>% of the aggregate gross proceeds of the Private Placement (inclusive of the gross proceeds to be received from the exercise of any Q3 2024 Pre-Funded Warrants, Series A Warrants, or Series B Warrants), and (iii) a non-accountable expense allowance of $<span id="xdx_900_eus-gaap--OtherExpenses_c20240924__20240924__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourOfferingMember__us-gaap--RelatedPartyTransactionAxis__custom--HCWainwrightAndCoLlcMember_zn1YCD5IV7Xg" title="Non accountable expense allowance">50,000</span>. In addition, the Company issued to Wainwright or its designees warrants (the “Q3 2024 Placement Agent Warrants”) to purchase up to an aggregate of <span id="xdx_900_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20240924__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourOfferingMember__us-gaap--RelatedPartyTransactionAxis__custom--HCWainwrightAndCoLlcMember__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zqOfvKlMjl7" title="Warrants isued">8,824</span> shares of Common Stock at an exercise price equal to $<span id="xdx_907_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20240924__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourOfferingMember__us-gaap--RelatedPartyTransactionAxis__custom--HCWainwrightAndCoLlcMember__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zVzE79xtr0V1" title="Warrants exercise price">53.13</span> per share and, if any Q3 2024 Pre-Funded Warrants, Series A Warrants, or Series B Warrants are exercised for cash will be obligated to issue to Wainwright additional Q3 2024 Placement Agent Warrants equal to <span id="xdx_90A_ecustom--PercentageOfPlacementAgentFeeToTheAggregatePurchasePrice_pid_dp_uPure_c20240924__20240924__us-gaap--RelatedPartyTransactionAxis__custom--HCWainwrightAndCoLlcMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourOfferingMember__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember_zy92xFUBGXW1" title="Percentage of prefunded warrants">7.5</span>% of the total Q3 2024 Pre-Funded Warrants, Series A Warrants, or Series B Warrants exercised, if any. The Q3 2024 Placement Agent Warrants have substantially the same terms as the Q3 2024 Pre-Funded Warrants, Series A Warrants, and Series B Warrants, are exercisable immediately upon issuance and have a term of exercise equal to five (<span id="xdx_90D_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20240522__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourOfferingMember__us-gaap--RelatedPartyTransactionAxis__custom--HCWainwrightAndCoLlcMember_zFdxsziYzn4f" title="Warrants expiration term">5</span>) years from the date of issuance. The Company recognized the Q3 2024 Placement Agent Warrants as a stock issuance cost as they are issued for services in connection with an offering.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 10, 2024, the Company entered into the OpenReel Merger Agreement. Since the OpenReel Merger Agreement requires the Company to issues shares to the OpenReel Stockholders and file a registration statement to register those shares, the Investor agreed to waive the Protective Provisions mentioned above (the “Waiver”). In consideration of the Waiver, the Company agreed to reduce the exercise price of the Series A and Series B Warrants from $<span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20241210__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourOfferingMember__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesAAndBWarrantsMember__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember_zAjdfKoRZvK1" title="Warrants exercise price">40.00</span> to $<span id="xdx_901_eus-gaap--WarrantExercisePriceDecrease_c20241210__20241210__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourOfferingMember__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesAAndBWarrantsMember__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember_zuVrG3E0Xw3g" title="Warrants exercise price, reduced">25.00</span> per share.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>September 26, 2024 Series A Warrants and Series B Warrants</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As discussed above, on September 26, 2024, the Company issued a total of <span id="xdx_906_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20240926__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesAAndBWarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwentySixTwoThousandTwentyFourSeriesAWarrantsAndSeriesBWarrantsMember_ziCB6bPb627b" title="Warrants issued">235,294</span> Series A and B Warrants which did not meet the definition of a liability pursuant to ASC 480 and met all of the requirements for equity classification under ASC 815 as such were classified in stockholder’s equity. The measurement of fair value of the Series A and B Warrants were determined utilizing a Black-Scholes model considering all relevant assumptions current at the date of issuance (i.e., share price of $<span id="xdx_909_eus-gaap--SaleOfStockPricePerShare_iI_c20240926__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwentySixTwoThousandTwentyFourSeriesAWarrantsAndSeriesBWarrantsMember__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesAWarrantsMember_zy2sYVJioOr8" title="Warrant issue price per share">60.80</span>, exercise price of $<span id="xdx_908_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20240926__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwentySixTwoThousandTwentyFourSeriesAWarrantsAndSeriesBWarrantsMember__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesAWarrantsMember_zxseUW2Pvto" title="Warrants exercise price">40.00</span>, term of <span id="xdx_904_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20240926__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesAWarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwentySixTwoThousandTwentyFourSeriesAWarrantsAndSeriesBWarrantsMember_zu3HZWFO0cZg" title="Warrants expiration term">5</span> years for the Series A Warrants and <span id="xdx_90F_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20240926__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesBWarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwentySixTwoThousandTwentyFourSeriesAWarrantsAndSeriesBWarrantsMember_zAsq7g7e8mMa" title="Warrants expiration term">1.5</span> years for the Series B Warrants, volatility of <span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20240926__20240926__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesAWarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwentySixTwoThousandTwentyFourSeriesAWarrantsAndSeriesBWarrantsMember_zRaYy3NmYEfe" title="Volatility">90</span>% for the Series A Warrants and <span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20240926__20240926__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesBWarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwentySixTwoThousandTwentyFourSeriesAWarrantsAndSeriesBWarrantsMember_zeZjnjgFxDjl" title="Volatility">132</span>% for the Series B Warrants, risk-free rate of <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20240926__20240926__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesAWarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwentySixTwoThousandTwentyFourSeriesAWarrantsAndSeriesBWarrantsMember_zO91FiaHMeu7" title="Risk free interest rate">3.6</span>% for the Series A Warrants and <span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20240926__20240926__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesBWarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwentySixTwoThousandTwentyFourSeriesAWarrantsAndSeriesBWarrantsMember_ziWTEKyNiKy9" title="Risk free interest rate">3.8</span>% for the Series B Warrants, and expected dividend rate of <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_uPure_c20240926__20240926__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesAAndBWarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwentySixTwoThousandTwentyFourSeriesAWarrantsAndSeriesBWarrantsMember_znxNN06nLMTh" title="Dividend rate">0.0</span>%). The relative fair value of these Series A and Series B Warrants, net of issuance costs, on date of issuance was estimated to be approximately $<span id="xdx_900_eus-gaap--FairValueAdjustmentOfWarrants_c20240926__20240926__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesAAndBWarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwentySixTwoThousandTwentyFourSeriesAWarrantsAndSeriesBWarrantsMember_zYXystn1HE86" title="Fair value of warrants">2,372,000</span> and is reflected within additional paid-in capital.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>September 26, 2024 Pre-Funded Warrants</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As discussed above, on September 26, 2024, the Company issued <span id="xdx_90C_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20240926__us-gaap--ClassOfWarrantOrRightAxis__custom--PreFundedWarrantMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourOfferingMember_zf78lay2r8T9" title="Warrants issued">117,647</span> Q3 2024 Pre-Funded Warrants which did not meet the definition of a liability pursuant to ASC 480 and met all of the requirements for equity classification under ASC 815 as such were classified in stockholder’s equity. were classified in stockholder’s equity. The measurement of fair value of the Q3 2024 Pre-Funded Warrants were determined as the intrinsic value calculated as the common stock price on the issuance date minus the exercise price. The relative fair value of these Pre-Funded Warrants, net of issuance costs, on date of issuance was estimated to be approximately $<span id="xdx_90B_eus-gaap--FairValueAdjustmentOfWarrants_c20240926__20240926__us-gaap--ClassOfWarrantOrRightAxis__custom--PreFundedWarrantMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourOfferingMember_zUsjrqdZxGo3" title="Fair value of warrants">1,638,000</span> and is reflected within additional paid-in capital. On November 7, 2024 the Pre-Funded warrants were exercised.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>September 26, 2024 Placement Agent Warrants</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As discussed above, on September 26, 2024, the Company issued <span id="xdx_90E_eus-gaap--SharesIssued_iI_c20240926__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourAlcoPromissoryNoteConversionAndSettlementMember_zdxplE0gz853" title="Shares issued">8,824</span> Q3 2024 Placement Agent Warrants. As the Q3 2024 Placement Agent Warrants were issued for services provided in facilitating the Private Placement, the Company recorded the fair value of such Q3 2024 Placement Agent Warrants of approximately $<span id="xdx_901_ecustom--WarrantsIssuanceGrantDateFairValue_c20240926__20240926__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourOfferingMember_zgn8tHfY6uqh" title="Grant date fair value of warrants issued">393,000</span> as a cost of capital on the issuance date. The measurement of fair value was determined utilizing a Black-Scholes model considering all relevant assumptions current at the date of issuance (i.e., share price of $<span id="xdx_90E_eus-gaap--SaleOfStockPricePerShare_iI_c20240926__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourOfferingMember_zC5Z7HDblEzf" title="Warrant issue price per share">60.80</span>, exercise price of $<span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20240926__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourOfferingMember_zZghijoxAjj2" title="Warrant exercise price">53.13</span>, term of <span id="xdx_90D_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20240926__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourOfferingMember_zYCeiRu1rGIa" title="Warrants expiration term">5</span> years, volatility of <span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20240926__20240926__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourOfferingMember_zPewfBSsmV75" title="Volatility">90</span>%, risk-free rate of <span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20240926__20240926__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourOfferingMember_z1wkDA0saR55" title="Risk free interest rate">3.6</span>%, and expected dividend rate of <span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_uPure_c20240926__20240926__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourOfferingMember_z8il09l22UVk" title="Dividend rate">0.0</span>%).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>September 2024 Alco Promissory Note Conversion and Settlement</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As discussed per <i>Note 11 - Debt, o</i>n September 19, 2024, the Company issued <span id="xdx_90A_eus-gaap--SharesIssued_iI_c20240919__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourAlcoPromissoryNoteConversionAndSettlementMember_zSjrytAVmlBf" title="Shares issued">28,242</span> shares of Class A Common Stock, Warrants to purchase up to <span id="xdx_90C_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20240919__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourAlcoPromissoryNoteConversionAndSettlementMember_zMvt4NZUOf4" title="Warrants exerciseable">133,134</span> shares of Class A Common Stock and Pre-Funded Warrants to purchase up to <span id="xdx_90C_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20240919__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourAlcoPromissoryNoteConversionAndSettlementMember__us-gaap--ClassOfWarrantOrRightAxis__custom--PreFundedWarrantMember_z5b3EqQqn4Pe" title="Warrants issued">104,892</span> shares of Class A Common Stock (collectively, the “Alco Securities”) to Alco, in full settlement of all amounts outstanding to Alco. The grant date fair value of the Class A Common Stock, Warrants to purchase up shares of Class A Common Stock and Pre-Funded Warrants to purchase shares of Class A Common Stock, were determined to be $<span id="xdx_903_ecustom--WarrantsIssuanceGrantDateFairValue_c20240919__20240919__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourAlcoPromissoryNoteConversionAndSettlementMember_zY1BvrhpYfUh" title="Grant date fair value of warrants issued">1,098,614</span>, $<span id="xdx_90A_ecustom--WarrantsIssuanceGrantDateFairValue_c20240919__20240919__us-gaap--StatementClassOfStockAxis__custom--CommonWarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourAlcoPromissoryNoteConversionAndSettlementMember_zaOtzxMQXnii" title="Grant date fair value of warrants issued">3,687,812</span>, and $<span id="xdx_903_ecustom--WarrantsIssuanceGrantDateFairValue_c20240919__20240919__us-gaap--StatementClassOfStockAxis__custom--PreFundedWarrantMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourAlcoPromissoryNoteConversionAndSettlementMember_zbcP14uYZRlc" title="Grant date fair value of warrants issued">4,080,194</span>, respectively. The measurement of fair value of the Class A Common Stock Warrants was determined utilizing a Black-Scholes model considering all relevant assumptions current at the date of issuance (i.e., share price of $<span id="xdx_906_eus-gaap--SaleOfStockPricePerShare_iI_c20240919__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourAlcoPromissoryNoteConversionAndSettlementMember_zjEwov2DV1Xa" title="Warrant issue price per share">38.90</span> - Determined as the negotiated share price calculated using a 5 day average price preceding September 20, 2024, exercise price of $<span id="xdx_90E_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20240919__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourAlcoPromissoryNoteConversionAndSettlementMember_z5vmsp5V5wDe" title="Warrant exercise price">40.20</span>, term of <span id="xdx_909_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20240919__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourAlcoPromissoryNoteConversionAndSettlementMember_zRdmcy6syPS7" title="Warrants expiration term">5</span> years, volatility of <span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20240919__20240919__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourAlcoPromissoryNoteConversionAndSettlementMember_zOJ3TsIFoBPc" title="Volatility">87</span>%, risk-free rate of <span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20240919__20240919__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourAlcoPromissoryNoteConversionAndSettlementMember_zOTkzubjNlO3" title="Risk free interest rate">3.5</span>%, and expected dividend rate of <span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_uPure_c20240919__20240919__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourAlcoPromissoryNoteConversionAndSettlementMember_zXWBlj5TV2fe" title="Dividend rate">0.0</span>%).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>September 2024 CP BF Conversion and Settlement</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As discussed per Note 11 - Debt, on September 23, 2024, the Company issued <span id="xdx_904_eus-gaap--SharesIssued_iI_c20240923__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourCpBfConversionAndSettlementMember_zRHJvj1nhmX" title="Shares issued">26,085</span> shares of Class A Common Stock, Warrants to purchase up to <span id="xdx_90E_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20240923__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourCpBfConversionAndSettlementMember_zmAjsH805kje" title="Warrants exerciseable">56,555</span> shares of Class A Common Stock and Pre-Funded Warrants to purchase up to <span id="xdx_903_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20240923__us-gaap--StatementClassOfStockAxis__custom--PreFundedWarrantMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourCpBfConversionAndSettlementMember_zb8cYQOahQVj" title="Warrants issued">30,470</span> shares of Class A Common Stock to CP BF, in settlement of $<span id="xdx_90F_eus-gaap--ProceedsFromRepaymentsOfNotesPayable_c20240923__20240923__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourCpBfConversionAndSettlementMember_zVKwpQFW68n" title="Debt outstanding settlement amount">2,000,000</span> of the outstanding debt. The grant date fair value of the Class A Common Stock, CP BF Warrant and CP BF Pre-Funded Warrant to purchase shares of Class A Common Stock, were determined to be $<span id="xdx_904_ecustom--WarrantsIssuanceGrantDateFairValue_c20240923__20240923__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourAlcoPromissoryNoteConversionAndSettlementMember_zAyABAFgBFbk" title="Grant date fair value of warrants issued">1,014,703</span>, $<span id="xdx_90D_ecustom--WarrantsIssuanceGrantDateFairValue_c20240923__20240923__us-gaap--StatementClassOfStockAxis__custom--CPBFWarrantMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourAlcoPromissoryNoteConversionAndSettlementMember_zKGq2Ph9TmCb" title="Grant date fair value of warrants issued">1,185,268</span>, and $<span id="xdx_90F_ecustom--WarrantsIssuanceGrantDateFairValue_c20240923__20240923__us-gaap--StatementClassOfStockAxis__custom--CPBFPreFundedWarrantMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourAlcoPromissoryNoteConversionAndSettlementMember_zriDRKBtHiBd" title="Grant date fair value of warrants issued">1,577,893</span>, respectively. The measurement of fair value of the Class A Common Stock Warrants was determined utilizing a Black-Scholes model considering all relevant assumptions current at the date of issuance (i.e., share price of $<span id="xdx_903_eus-gaap--SaleOfStockPricePerShare_iI_c20240923__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourCpBfConversionAndSettlementMember_zQrMb1QMZuQ6" title="Warrant issue price per share">38.90</span>, exercise price of $<span id="xdx_90B_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20240923__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourCpBfConversionAndSettlementMember_z3yqveEe2tYh" title="Warrant exercise price">38.90</span>, term of <span id="xdx_90E_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20240923__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourCpBfConversionAndSettlementMember_zMq9hDNLxRAe" title="Warrants expiration term">5</span> years, volatility of <span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20240923__20240923__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourCpBfConversionAndSettlementMember_z0YZGMICIt1g" title="Volatility">87</span>%, risk-free rate of <span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20240923__20240923__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourCpBfConversionAndSettlementMember_zP4wSSqH8du5" title="Risk free interest rate">3.5</span>%, and expected dividend rate of <span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_uPure_c20240923__20240923__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__custom--SeptemberTwoThousandTwentyFourCpBfConversionAndSettlementMember_zKfFnrIch4Sc" title="Dividend rate">0.0</span>%). The measurement of fair value of the CP BF Pre-Funded Warrants were determined as the intrinsic value calculated as the common stock VWAP used in negotiations on the issuance date minus the exercise price. On October 15, 2024 the Pre-Funded warrants were exercised.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>OpenReel Acquisition Pre-Funded Warrants</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As discussed above in <i>Note 5 - Acquisition of OpenReel</i>, on December 18, 2024, the Company issued <span id="xdx_906_eus-gaap--SharesIssued_iI_c20241228__us-gaap--ClassOfWarrantOrRightAxis__custom--PreFundedWarrantMember__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember_zwD84gOScqjc" title="Shares issued">1,176,950</span> Pre-Funded Warrants and 1 share of Series FE Preferred Stock, which did not meet the definition of a liability pursuant to ASC 480 and met all of the requirements for equity classification under ASC 815. As such these were classified in stockholder’s equity.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Preferred Stock</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company is authorized to issue <span id="xdx_90C_eus-gaap--PreferredStockSharesAuthorized_iI_pid_c20241231_zyKCMNlCGEwj" title="Preferred stock, shares authorized">75,000,000</span> shares of preferred stock with a par value of $<span id="xdx_909_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_pid_c20241231_zvDPTNMiplEb" title="Preferred stock, par value">0.0001</span> per share. The board of directors of the Company (the “Board”) has the authority to issue preferred stock and to determine the rights, privileges, preferences, restrictions, and voting rights of those shares. As of December 31, 2024 and 2023, <span id="xdx_90A_eus-gaap--PreferredStockSharesOutstanding_iI_pid_dc_c20241231_zUbkWszlMqU3" title="Preferred stock, shares outstanding">one</span> and <span id="xdx_909_eus-gaap--PreferredStockSharesOutstanding_iI_pid_do_c20231231_z6a7qg5oAJKf" title="Preferred stock, shares outstanding">no</span> shares of preferred stock were outstanding, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Series FE Preferred Stock</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with and as a condition to closing under the Merger Agreement (see <i>Note 5 - Acquisition of OpenReel</i>), on the Closing Date, the Company issued <span id="xdx_902_eus-gaap--PreferredStockSharesIssued_iI_pid_dc_c20241231__us-gaap--StatementClassOfStockAxis__custom--SeriesFEPreferredStockMember_zD6FBYMG2CE2" title="Preferred stock, shares issued">one</span> (1) share of series FE preferred stock, par value $<span id="xdx_902_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_pid_c20241231__us-gaap--StatementClassOfStockAxis__custom--SeriesFEPreferredStockMember_z1QfD2zLr7S1" title="Preferred stock, par value">0.0001</span> per share (the “Series FE Preferred Stock”), to one of the OpenReel Stockholders, FE IV OR Aggregator, LLC. The Series FE Preferred Stock has a two (<span id="xdx_901_ecustom--PreferredStockTerm_dtY_c20241218__20241218__us-gaap--StatementClassOfStockAxis__custom--SeriesFEPreferredStockMember__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember_z1D6Q9GNDCdl" title="Preferred stock term">2</span>) year term and from the issue date to the second anniversary of the issue date, the holder is granted the right upon a subsequent financing resulting in the issuance of new securities by the Company, to participate on a pro-rata basis in such subsequent financing up to the holder’s fully-diluted ownership percentage of the Company. Upon the two-year anniversary of the issue date of the Series FE Preferred Stock, the Series FE Preferred Stock will automatically be canceled and return to the status of authorized but unissued. The Series FE Preferred Stock does not participate in dividends of the Company, is not convertible into any other class of equity securities of the Company, has no voting rights with the Common Stock or other equity securities of the Company, and is not redeemable.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Yorkville Standby Equity Purchase Agreement (“SEPA”)</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 14, 2023, the Company entered into the SEPA with YA II PN, LTD, a Cayman Islands exempt limited partnership managed by Yorkville Advisors Global, LP (“Yorkville”) in connection with the Merger. Pursuant to the SEPA, subject to certain conditions, the Company shall have the option, but not the obligation, to sell to Yorkville, and Yorkville shall subscribe for, an aggregate amount of up to up to $<span id="xdx_90A_eus-gaap--AssetAcquisitionConsiderationTransferred_c20231214__20231214__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__custom--AgreementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_zQMQNupB1g4k" title="Asset acquisition consideration transferred">100,000,000</span> of the Company’s shares of Class A common stock, par value $<span id="xdx_903_eus-gaap--CommonStockParOrStatedValuePerShare_iI_pid_c20231214__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__custom--AgreementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_zgR4ydAe3llf" title="Common stock, par value">0.0001</span> per share, at the Company’s request any time during the commitment period commencing on December 14, 2023 and terminating on the 36-month anniversary of the SEPA (the “SEPA Option”).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Each advance (each, an “Advance”) the Company requests under the SEPA (notice of such request, an “Advance Notice”) may be for a number of shares of Class A common stock up to the greater of (i) <span id="xdx_90B_eus-gaap--InvestmentCompanyExpenseLimitationAgreementDescription_c20240101__20241231__custom--AgreementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_zGUT0rF1yjnj" title="Investment company expense limitation agreement description">10,000 shares or (ii) such amount as is equal to 100% of the average daily volume traded of the Class A common stock during the five trading days immediately prior to the date the Company requests each Advance</span>; provided, in no event shall the number of shares of Class A common stock issued cause the aggregate shares of Class A common stock held by Yorkville and its affiliates as of any such date to exceed <span id="xdx_90D_ecustom--PercentageOfSharesOutstandingAtTheDateOfAdvanceNotice_pid_dp_uPure_c20231214__20231214__custom--AgreementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zGKbarQnjLU3" title="Percentage of shares outstanding at the date of advance notice">9.99</span>% of the total number of shares of Class A common stock outstanding as of the date of the Advance Notice (less any such shares held by Yorkville and its affiliates as of such date) (the “Exchange Cap”). The shares would be purchased, at the Company’s election, at a purchase price equal to either:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">(i)</td><td style="text-align: justify"><span id="xdx_90C_ecustom--PercentageOfAverageDailyVolumeWeightedAveragePrice_pid_dp_uPure_c20231214__20231214__custom--AgreementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zSA5eRtxQgs1" title="Percentage of average daily volume weighted average price">95</span>% of the average daily Volume Weighted Average Price (“VWAP”) of the Class A Common Stock on the Nasdaq Stock Market (“Nasdaq”), subject to certain conditions per the SEPA (the “Option 1 Pricing Period; or</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">(ii)</td><td style="text-align: justify"><span id="xdx_90B_ecustom--PercentageOfLowestDailyVolumeWeightedAveragePrice_pid_dp_uPure_c20231214__20231214__custom--AgreementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zQAb9Ljb1Ua2" title="Percentage of average daily volume weighted average price">96</span>% of the lowest daily VWAP of the Class A Common Stock during the three trading days commencing on the Advance Notice date, subject to certain conditions per the SEPA (the “Option 2 Pricing Period”).</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Any purchase under an Advance would be subject to certain limitations, including that Yorkville shall not purchase or acquire any shares that would result in it and its affiliates beneficially owning more than <span id="xdx_906_ecustom--PurchaseOfStockPercentageOfVotingPowerOwnershipLimitation_iI_pid_dp_uPure_c20231214__custom--AgreementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zDv7GZzaZYg2" title="Purchase of stock percentage of voting power ownership limitation">9.99</span>% of the then outstanding voting power or number of shares of Class A common stock or any shares that, aggregated with shares issued under all other earlier Advances, would exceed <span id="xdx_904_ecustom--PurchaseOfStockPercentageOfOutstandingSharesOwnershipLimitation_pid_dp_uPure_c20231214__20231214__custom--AgreementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zLBDfjpq8PLg" title="Purchase of stock percentage of voting power ownership limitation"><span id="xdx_90F_ecustom--PurchaseOfStockPercentageOfOutstandingSharesOwnershipLimitation_pid_dp_uPure_c20231214__20231214__custom--AgreementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zjV57ZH2FKSg" title="Purchase of stock percentage of voting power ownership limitation">19.99</span></span>% of all shares of Class A common stock and Class B common stock of the Company, par value $<span id="xdx_90E_eus-gaap--CommonStockParOrStatedValuePerShare_iI_pid_c20231214__custom--AgreementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zzaHvIDtp5Ej" title="Common stock, par value"><span id="xdx_90D_eus-gaap--CommonStockParOrStatedValuePerShare_iI_pid_c20231214__custom--AgreementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zILqiJS1M1Qh" title="Common stock, par value">0.0001</span></span> per share, outstanding on the date of the SEPA, unless Company shareholder approval was obtained allowing for issuances in excess of such amount.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The SEPA Option was determined to be a freestanding financial instrument which did not meet the criteria to be accounted for as a derivative instrument or to be recognized within equity. Pursuant to ASC 815 <i>Derivatives and Hedging </i>(“ASC 815”), the Company will therefore recognize the SEPA Option as an asset or liability, measured at fair value at the date of issuance, December 14, 2023, and in subsequent reporting periods, with changes in fair value recognized in earnings. The SEPA Option was determined to have a fair value of $0 on the date of issuance as well as at December 31, 2024 and 2023.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with the execution of the SEPA, the Company agreed to pay a commitment fee of $<span id="xdx_905_ecustom--CommitmentFeePayable_iI_c20231214__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_z2iAkfWc3VWl" title="Commitment fee payable">500,000</span> to Yorkville at the earlier of (i) March 14, 2024 or (ii) the termination of the SEPA, which will be payable, at the option of the Company, in cash or shares of Class A common stock through an Advance (the “Deferred Fee”). In March 2024 the Company issued <span id="xdx_909_ecustom--SharesIssuedAsPaymentOfDeferredFee_c20240301__20240331__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--AwardTypeAxis__custom--ReverseStockSplitMember_zpuALq8seKql" title="Shares issued as payment of deferred fee">1,420</span> Class A common stock as payment for the Deferred Fee.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the terms of the SEPA, at any time that there is a balance outstanding under the Yorkville Promissory Notes, Yorkville has the right to receive shares to pay down the principal balance, and may select the timing and delivery of such shares (via an “Investor Notice”), in an amount up to the outstanding principal balance on the Yorkville Promissory Notes at a purchase price equal to the lower of (i) $<span id="xdx_908_eus-gaap--SharesIssuedPricePerShare_iI_c20231214__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_zDNWWO61Hhek" title="Shares issued price per share">500.00</span> per share of Class A common stock (the “Fixed Price”), or (ii) <span id="xdx_909_ecustom--PercentageOfLowestDailyVolumeWeightedAveragePrice_pid_dp_uPure_c20231214__20231214__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_zWdVH95EmkD" title="Percentage of lowest daily volume weighted average price">90</span>% of the lowest daily Volume Weighted Average Price (“VWAP”) of the Class A common stock on Nasdaq during the 10 consecutive Trading Days immediately preceding the Investor Notice date or other date of determination (the “Variable Price”). The Variable Price shall not be lower than $<span id="xdx_907_ecustom--MaximumFloorPrice_iI_c20231214__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_zxyIq7Uwhq28" title="Maximum floor price">100.00</span> per share (the “Floor Price”). The Floor Price shall be adjusted (downwards only) to equal 20% of the average VWAP for the five trading days immediately prior to the date of effectiveness of the initial Registration Statement. Notwithstanding the foregoing, the Company may reduce the Floor Price to any amount via written notice to Yorkville, provided that such amount is no more than <span id="xdx_90F_ecustom--MaximumPercentageOfClosingPriceOnTradingDay_pid_dp_uPure_c20231214__20231214__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_zsijcjbeeDYg" title="Maximum percentage of closing price on trading day">75</span>% of the closing price on the Trading Day immediately prior to the time of such reduction and no greater than $<span id="xdx_906_eus-gaap--CommonStockConvertibleConversionPriceIncrease_c20231214__20231214__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--AwardTypeAxis__custom--ReverseStockSplitMember_zLnM2AMVHrI8" title="Common stock convertible conversion price increase">100.00</span> per share of Class A common stock (the “Conversion Price”). At any time that there is a balance outstanding under the Yorkville Promissory Notes, the Company is not permitted to issue Advance Notices under the SEPA unless an Amortization Event has occurred under the terms of the Yorkville Promissory Notes agreement.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There were two Advance Notices issued pursuant to the SEPA during the period ended December 31, 2024 or as of the date that these financial statements were issued, apart from the Premium Advance which was issued pursuant to the terms of the Amended Debt Agreement (see <i>Note 14 - Debt</i>).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 18, 2024, the Company issued an Advance Notice to Yorkville pursuant to the SEPA in which the Company requested the purchase of <span id="xdx_909_eus-gaap--CommonStockSharesAuthorized_iI_c20241218__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zTSaFOqBlmCl" title="Common stock, shares authorized">63,000</span> shares of the Company’s Class A Common Stock. The Advance Notice was, at the Company’s election, subject to the Option 2 Pricing Period provisions of the SEPA, and was settled on December 23, 2024. Upon the settlement on December 23, 2024, Yorkville purchased <span id="xdx_906_eus-gaap--SharesIssued_iI_c20241218__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zkyJpSmyqYwl" title="Shares issued">55,000</span> shares of the Company’s Class A Common Stock at $<span id="xdx_90D_eus-gaap--SharesIssuedPricePerShare_iI_c20241218__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_ztDTm8ok2su2" title="Purchase price per share">16.10</span> per share for a total purchase price of approximately $<span id="xdx_90B_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_c20241218__20241218__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zWUA7eYgFx54" title="Aggregate gross proceeds from offering">881,000</span>. The closing price of the Company’s stock on the December 23, 2024 settlement date was $<span id="xdx_908_eus-gaap--SharesIssuedPricePerShare_iI_c20241223__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_ze9cn0ed5EGb" title="Purchase price per share">16.80</span> per share.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 30, 2024, the Company issued an Advance Notice to Yorkville pursuant to the SEPA in which the Company requested the purchase of <span id="xdx_907_eus-gaap--CommonStockSharesAuthorized_iI_c20241230__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z41yEYVQYEj4" title="Common stock, shares authorized">65,000</span> shares of the Company’s Class A Common Stock. The Advance Notice was, at the Company’s election, subject to the Option 2 Pricing Period provisions of the SEPA, and was accordingly not settled until January 3, 2025. Upon issuance of the Advance Notice, the Company became obligated to sell up to the requested number of shares, and thus had an outstanding obligation to sell up to <span id="xdx_907_eus-gaap--SharesIssued_iI_c20241231__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zK4uU2yCDqE" title="Shares issued">65,000</span> shares of Class A Common Stock as of December 31, 2024. Refer to <i>Note 22</i> for further information.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> 275000000 250000000 25000000 0.0001 The Class A Common Stock and Class B Common Stock entitle their holders to one vote per share and ten votes per share, respectively, on each matter properly submitted to the stockholders entitled to vote thereon. 819516 819516 588403 588403 231113 231113 258529 258529 27416 27416 231113 231113 17322 27778 90.00 90.00 0.05 P5Y 2500000 600000 1900000 2024-05-28 0.070 25000 0.06 1.10 409000 10456 27778 90.00 90.00 P5Y 0.87 0.046 0 722000 10456 17322 660000 10456 1667 100000 90.00 90.00 P5Y 0.87 0.046 0 117647 0.01 117647 40.00 117647 40.00 P5Y 42.49 5000000.0 600000 4400000 0.075 0.010 50000 8824 53.13 0.075 P5Y 40.00 25.00 235294 60.80 40.00 P5Y P1Y6M 0.90 1.32 0.036 0.038 0.000 2372000 117647 1638000 8824 393000 60.80 53.13 P5Y 0.90 0.036 0.000 28242 133134 104892 1098614 3687812 4080194 38.90 40.20 P5Y 0.87 0.035 0.000 26085 56555 30470 2000000 1014703 1185268 1577893 38.90 38.90 P5Y 0.87 0.035 0.000 1176950 75000000 0.0001 1 0 1 0.0001 P2Y 100000000 0.0001 10,000 shares or (ii) such amount as is equal to 100% of the average daily volume traded of the Class A common stock during the five trading days immediately prior to the date the Company requests each Advance 0.0999 0.95 0.96 0.0999 0.1999 0.1999 0.0001 0.0001 500000 1420 500.00 0.90 100.00 0.75 100.00 63000 55000 16.10 881000 16.80 65000 65000 <p id="xdx_800_eus-gaap--DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_zwAvAvX5rrE" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>19. <span id="xdx_829_z7bY9CsoOQpi">Stock-Based Compensation</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During 2023, the Company adopted the 2023 Employee Stock Purchase Plan (the “Purchase Plan”). The Purchase Plan permits eligible employees of the Company and certain designated companies as determined by the Board of Directors, to purchase shares of the Company’s Common Stock. <span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationDescriptionAndTerms_c20240101__20241231__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeEmployeeStockPurchasePlanMember_zcpcaEGjAY9j" title="Equity incentive plan, description">The aggregate number of shares of common stock that may be purchased pursuant to the Purchase Plan is equal to <span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfOutstandingStockMaximum_dp_uPure_c20240101__20241231__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeEmployeeStockPurchasePlanMember_zOvXd7ozkUuh" title="Percentage of aggregate number of shares of common stock issued">2</span>% of the fully diluted common stock determined at the Close of the Merger Agreement, determined to be <span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod_c20240101__20241231__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeEmployeeStockPurchasePlanMember_zThNOpiDala9" title="Aggregate number of shares of common stock issued, determined">1,144</span>. In addition, the aggregate number of shares of common stock that remain available to be awarded under the Purchase Plan, will automatically increase on January 1 of each year for a period of <span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod_dtY_c20240101__20241231__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeEmployeeStockPurchasePlanMember_zID3hKgzVYn1" title="Expiration period">10</span> years commencing on January 1, 2024 and ending on <span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardExpirationDate_dd_c20240101__20241231__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeEmployeeStockPurchasePlanMember_z9S5W8a5ORae" title="Expiration date">January 1, 2033</span>, in an amount equal to the lesser of one percent (<span id="xdx_90A_ecustom--PercentageOfNumberOfSharesOfFullyDilutedCommonStock_dp_uPure_c20240101__20241231__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeEmployeeStockPurchasePlanMember_zrjQvTyKJIi9" title="Percentage of number of shares of fully diluted common stock">1</span>%) of the total number of shares of the fully diluted common stock determined as of December 31 of the preceding year, or a number of shares of common stock equal to two hundred percent (<span id="xdx_90D_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardAutomaticIncreasePercentageOfInitialShareReserve_dp_uPure_c20240101__20241231__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeEmployeeStockPurchasePlanMember_zp0rssV3s0sc" title="Percentage of automatic increase in initial share reserve">200</span>%) of the initial share reserve of <span id="xdx_90A_ecustom--InitialShareReserve_iI_c20241231__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeEmployeeStockPurchasePlanMember_zU8K8v2y6SK6" title="Initial share reserve">1,144</span>.</span> As of December 31, 2024 and 2023, <span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_c20241231__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeEmployeeStockPurchasePlanMember_zm9OEqEY38Ke" title="Stock options awarded">1,156</span> and <span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_c20231231__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeEmployeeStockPurchasePlanMember_zPrdIdBC1Kv" title="Stock options awarded">1,144</span> shares of common stock remain available to be purchased under the Purchase Plan, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During 2023, the Company adopted the 2023 Equity Incentive Plan (the “Plan”). The Plan permits the granting of incentive stock options, nonstatutory stock options, SARs, restricted stock awards, RSU awards, performance awards, and other awards. to employees, directors, and consultants. <span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationDescriptionAndTerms_c20240101__20241231__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeEquityIncentivePlanMember_zIigdYOVUMuf" title="Equity incentive plan, description">The aggregate number of shares of common stock that may be issued will not exceed approximately <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfOutstandingStockMaximum_dp_uPure_c20240101__20241231__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeEquityIncentivePlanMember_zXaSJA2n8OOg" title="Percentage of aggregate number of shares of common stock issued">12.5</span>% of the fully diluted common stock determined at the Close of the Merger, determined to be <span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod_c20240101__20241231__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeEquityIncentivePlanMember_zMZkn3RPAqo6" title="Aggregate number of shares of common stock issued, determined">7,152</span>. In addition, the aggregate number of shares of common stock that remain available to be awarded under the Plan, will automatically increase on January 1 of each year for a period of ten years commencing on January 1, 2024 and ending on <span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardExpirationDate_dd_c20240101__20241231__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeEquityIncentivePlanMember_zeuAQHlcIRdj" title="Expiration date">January 1, 2033</span>, in an amount equal to <span id="xdx_903_ecustom--PercentageOfNumberOfSharesOfFullyDilutedCommonStock_dp_uPure_c20240101__20241231__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeEquityIncentivePlanMember_zAaZVVZ0UM5k" title="Percentage of number of shares of fully diluted common stock">5</span>% of the total number of shares of the fully diluted common stock determined as of the day prior to such increase.</span> The aggregate maximum number of shares of common stock that may be issued pursuant to the exercise of incentive stock options is approximately three times the total number of shares of common stock initially reserved for issuance, which were <span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20240101__20241231__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeEquityIncentivePlanMember_zz5QX5hW0yVl" title="Issuance of shares">7,152</span>. As of December 31, 2024 and 2023, <span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_c20241231__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeEquityIncentivePlanMember_zGblgcZPgrol" title="Stock options awarded">233</span> and <span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_c20231231__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeEquityIncentivePlanMember_zIhsSzC5eSEf" title="Stock options awarded">7,152</span> stock options remain available to be awarded under the Plan, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company accounts for stock-based payments pursuant to ASC 718 <i>Stock Compensation</i> and, accordingly, the Company records compensation expense for stock-based awards based upon an assessment of the grant date fair value for options using the Black-Scholes option pricing model. The Company has concluded that its historical share option exercise experience does not provide a reasonable basis upon which to estimate expected term. Therefore, the expected term was determined according to the simplified method, which is the average of the vesting tranche dates and the contractual term. Due to the lack of company specific historical and implied volatility data, the estimate of expected volatility is primarily based on the historical volatility of a group of similar companies that are publicly traded. For these analyses, companies with comparable characteristics were selected, including enterprise value and position within the industry, and with historical share price information sufficient to meet the expected life of the share-based awards. The Company computes the historical volatility data using the daily closing prices for the selected companies’ shares during the equivalent periods of the calculated expected term of its share-based awards. The risk-free interest rate is determined by reference to the U.S. Treasury zero-coupon issues with remaining maturities similar to the expected term of the options. Expected dividend yield is <span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_dcp_uPure_c20240101__20241231_zMYAAOJrT2Ml" title="Expected dividend yield">zero</span> based on the fact that the Company has never paid cash dividends and does not expect to pay any cash dividends in the foreseeable future.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_89A_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zY1XG45m3KN8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table summarizes assumptions used to compute the fair value of options granted:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B0_zCj6omxYKgT8">Summary of Assumptions Used to Compute Fair Value</span> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Stock price</td><td style="width: 2%"> </td> <td style="width: 18%; text-align: right">$<span id="xdx_90F_eus-gaap--SharePrice_iI_pid_c20241231__srt--RangeAxis__srt--MinimumMember_zkQGJ6zQaIRe" title="Stock price">150.00</span> - <span id="xdx_90F_eus-gaap--SharePrice_iI_pid_c20241231__srt--RangeAxis__srt--MaximumMember_zr5fKqb2iYl3" title="Stock price">2,930.00</span></td><td style="width: 2%"> </td> <td style="width: 18%; text-align: right">$<span id="xdx_90A_eus-gaap--SharePrice_iI_pid_c20231231__srt--RangeAxis__srt--MinimumMember_zQfJQqpLEaq1" title="Stock price">4,190.00</span> - <span id="xdx_909_eus-gaap--SharePrice_iI_pid_c20231231__srt--RangeAxis__srt--MaximumMember_zsvxQbGk28sg" title="Stock price">5,990.00</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Exercise price</td><td> </td> <td style="text-align: right">$<span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_pid_c20241231__srt--RangeAxis__srt--MinimumMember_z2onkxAzagQ6" title="Exercise price">58.50</span> - <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_pid_c20241231__srt--RangeAxis__srt--MaximumMember_zgrCLf2RGB77" title="Exercise price">2,500.00</span></td><td> </td> <td style="text-align: right">$<span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_pid_c20231231__srt--RangeAxis__srt--MinimumMember_zGUbDe3t7RZk" title="Exercise price">4,190.00</span> - <span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_pid_c20231231__srt--RangeAxis__srt--MaximumMember_zpeL3JG8XGB5" title="Exercise price">5,990.00</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected volatility</td><td> </td> <td style="text-align: right"><span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20240101__20241231__srt--RangeAxis__srt--MinimumMember_ziixLQ4g2QI3" title="Expected volatility">61.00</span> - <span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20240101__20241231__srt--RangeAxis__srt--MaximumMember_z5zTrpsQMCFe" title="Expected volatility">69.57</span>%</td><td> </td> <td style="text-align: right"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20230101__20231231__srt--RangeAxis__srt--MinimumMember_zT56VL2CUxrh" title="Expected volatility">80.00</span> - <span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20230101__20231231__srt--RangeAxis__srt--MaximumMember_zdtzJNHOexz5" title="Expected volatility">110.95</span>%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected term (in years)</td><td> </td> <td style="text-align: right"><span id="xdx_90B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_pid_dtY_c20240101__20241231__srt--RangeAxis__srt--MinimumMember_zONe2ncbRN0f" title="Expected term (in years)">5.61</span> - <span id="xdx_90D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_pid_dtY_c20240101__20241231__srt--RangeAxis__srt--MaximumMember_z6LhGmHDjqy2" title="Expected term (in years)">6.08</span></td><td> </td> <td style="text-align: right"><span id="xdx_900_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_pid_dtY_c20230101__20231231__srt--RangeAxis__srt--MinimumMember_zv6fOYCd0D8i" title="Expected term (in years)">5.00</span> - <span id="xdx_900_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_pid_dtY_c20230101__20231231__srt--RangeAxis__srt--MaximumMember_znZBwhNnzaG5" title="Expected term (in years)">6.08</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Risk-free interest rate</td><td> </td> <td style="text-align: right"><span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20240101__20241231__srt--RangeAxis__srt--MinimumMember_ztIgVWaeedB9" title="Risk-free interest rate">3.71</span> - <span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20240101__20241231__srt--RangeAxis__srt--MaximumMember_zChPMComEFyg" title="Risk-free interest rate">4.45</span>%</td><td> </td> <td style="text-align: right"><span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20230101__20231231__srt--RangeAxis__srt--MinimumMember_zigOBHfy1yhh" title="Risk-free interest rate">3.46</span> - <span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20230101__20231231__srt--RangeAxis__srt--MaximumMember_zjqIbgIcQ9W2" title="Risk-free interest rate">4.31</span>%</td></tr> </table> <p id="xdx_8AA_zx4G4NGqPXzl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_893_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_z2pe9I4jk98h" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A summary of stock option activity under the Plan is as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B8_z8NKfx1CfhI3">Summary of Stock Option Activity</span> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Shares Underlying Options</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Remaining Contractual Term (in years)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Intrinsic Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%">Outstanding at December 31, 2022</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20230101__20231231_zOtRagqZx0xb" style="width: 10%; text-align: right" title="Shares Underlying Options, Beginning balance">635</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20230101__20231231_za7teqUaw6E" style="width: 10%; text-align: right" title="Weighted Average Exercise Price, Beginning Balance">1,052.40</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right"><span id="xdx_901_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20220101__20221231_zo7fKifSWGt3" title="Weighted Average Remaining Contractual Term (in years), Outstanding">7.95</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_c20230101__20231231_zJKRyQK5Cj8f" style="width: 10%; text-align: right" title="Intrinsic Value Outstanding, Beginning Balance">108,253</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20230101__20231231_zmph6zwWoEWk" style="text-align: right" title="Shares Underlying Options, Granted">1,738</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20230101__20231231_zKSLzcvt1aOf" style="text-align: right" title="Weighted Average Exercise Price, Granted">4,964.90</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_pid_di_c20230101__20231231_zw4UfX5wfAsd" style="text-align: right" title="Shares Underlying Options, Exercised">(36</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_c20230101__20231231_zHjSgXBdfrD4" style="text-align: right" title="Weighted Average Exercise Price, Exercised">1,094.60</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue_c20230101__20231231_ztAtkUt8Ql9e" style="text-align: right" title="Intrinsic Value, Exercised">4,480</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Expired</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_iN_pid_di_c20230101__20231231_zkZRTk48bHx3" style="text-align: right" title="Shares Underlying Options, Expired">(13</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice_pid_c20230101__20231231_zCkcyqMjms6f" style="text-align: right" title="Weighted Average Exercise Price, Expired">5,990.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20230101__20231231_zbwMe9VendE5" style="border-bottom: Black 1pt solid; text-align: right" title="Shares Underlying Options, Forfeited">(823</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_c20230101__20231231_zKgOnbUfB5sj" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price, Forfeited">5,785.60</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Outstanding at December 31, 2023</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20240101__20241231_zwfmP8FK6tRa" style="text-align: right" title="Shares Underlying Options, Beginning balance">1,501</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20240101__20241231_zXRPlbz38Psk" style="text-align: right" title="Weighted Average Exercise Price, Beginning Balance">2,914.40</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20230101__20231231_zSmhNXWcCtel" title="Weighted Average Remaining Contractual Term (in years), Outstanding">8.29</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_c20240101__20241231_z38U48asIQi5" style="text-align: right" title="Intrinsic Value Outstanding, Beginning Balance">109,821</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20240101__20241231_zl3aLgxgNTDb" style="text-align: right" title="Shares Underlying Options, Granted">2,845</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20240101__20241231_zrzuskdqOfsi" style="text-align: right" title="Weighted Average Exercise Price, Granted">1,433.40</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_pid_di_c20240101__20241231_zGs5UNXYtOtk" style="text-align: right" title="Shares Underlying Options, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl7068">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_c20240101__20241231_zSs0CJBzMFzc" style="text-align: right" title="Weighted Average Exercise Price, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl7070">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Expired</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_iN_pid_di_c20240101__20241231_zgACMwmHeRMc" style="text-align: right" title="Shares Underlying Options, Exercised">(200</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice_pid_c20240101__20241231_z1yNHaU4Rvs9" style="text-align: right" title="Weighted Average Exercise Price, Expired">3,092.40</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20240101__20241231_zFauGGVqDov4" style="border-bottom: Black 1pt solid; text-align: right" title="Shares Underlying Options, Forfeited">(1,580</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_c20240101__20241231_z2J5FhtMDq1f" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price, Forfeited">2,345.70</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Outstanding at December 31, 2024</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20240101__20241231_zmwkxJ8fl0wl" style="border-bottom: Black 1pt solid; text-align: right" title="Shares Underlying Options, Ending balance">2,566</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20240101__20241231_znZWyIW2h8U9" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price, Beginning Balance">1,618.30</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_900_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240101__20241231_zBrkNpc4Kf3l" title="Weighted Average Remaining Contractual Term (in years), Outstanding">8.52</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_c20240101__20241231_z0ATCTqHNiW7" style="border-bottom: Black 1pt solid; text-align: right" title="Intrinsic Value Outstanding, Ending Balance"><span style="-sec-ix-hidden: xdx2ixbrl7086">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Exercisable at December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_pid_c20240101__20241231_zXLcynFjGBrc" style="border-bottom: Black 2.5pt double; text-align: right" title="Shares Underlying Options, Exercisable">656</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_pid_c20240101__20241231_zTVNX5UXglJl" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Exercise Price, Exercisable">1,596.50</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20240101__20241231_zWdcOu1S8Puc" title="Weighted Average Remaining Contractual Term (in years), Exercisable">6.37</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_987_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iE_pid_c20240101__20241231_z76aaL6g2Lf1" style="border-bottom: Black 2.5pt double; text-align: right" title="Intrinsic Value, Exerciseable"><span style="-sec-ix-hidden: xdx2ixbrl7094">—</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AA_zMttpgoL56Rd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with issuances under the Plan, the Company recorded stock-based compensation expense of $<span id="xdx_908_eus-gaap--AllocatedShareBasedCompensationExpense_c20240101__20241231__us-gaap--IncomeStatementLocationAxis__us-gaap--GeneralAndAdministrativeExpenseMember_zzAeu9h64YJl" title="Stock-based compensation expense">131,041</span> and $<span id="xdx_90D_eus-gaap--AllocatedShareBasedCompensationExpense_c20230101__20231231__us-gaap--IncomeStatementLocationAxis__us-gaap--GeneralAndAdministrativeExpenseMember_zIng6fe9evJ7" title="Stock-based compensation expense">1,245,796</span>, which is included in general and administrative expense for the years ended December 31, 2024 and 2023, respectively. The weighted-average grant-date fair value per option granted during the years ended December 31, 2024 and 2023 was $<span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_c20240101__20241231_zorKJJRMbiKi" title="Weighted average grant date fair value">7.15</span> and $<span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_c20230101__20231231_zjFIXWx1s2Ph" title="Weighted average grant date fair value">243.00</span>, respectively. As of December 31, 2024 and 2023, $<span id="xdx_90C_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions_iI_c20241231_z4cMOCTnxJCf" title="Unrecognized compensation expense related to unvested options">212,936</span> and $<span id="xdx_90F_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions_iI_c20231231_zrqRHno176dg" title="Unrecognized compensation expense related to unvested options">2,594,571</span> of unrecognized compensation expense related to non-vested awards is expected to be recognized over the weighted average period of <span id="xdx_904_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20240101__20241231_z04xkedrNWFi" title="Period for unrecognized compensation expense related to unvested options yet has not been recognized">9.25</span> and <span id="xdx_906_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20230101__20231231_zoa62hVJhIsa" title="Period for unrecognized compensation expense related to unvested options yet has not been recognized">2.73</span> years, respectively. The aggregate intrinsic value is calculated as the difference between the fair value of the Company’s stock price and the exercise price of the options.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>RSUs</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the year ended December 31, 2024, the Company began issuing RSUs to employees and to non-employee directors. Each RSU entitles the recipient to one share of Class A Common Stock upon vesting. The Company measures the fair value of RSUs using the stock price on the date of grant. Stock-based compensation expense for employee-granted RSUs is recorded ratably over their vesting period of <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_pid_dc_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zjOxQLVDJcc3" title="Vesting period">four years</span>. <span id="xdx_90E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage_pid_dp_uPure_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zIiKJZvrRKLk" title="Percentage of vesting on each anniversary">25</span>% of the RSUs will vest on each anniversary of the vesting commencement date until the RSU is fully vested. Stock-based compensation expense for non-employee director-granted RSUs is recorded ratably over their vesting period which is the earlier to occur of the one (1) year anniversary of the respective grant date, or the next annual meeting of stockholders following the respective grant date.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_899_eus-gaap--ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_z3MkMgy0DYii" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A summary of the activity with respect to, and status of, RSUs during the year ended December 31, 2024 is presented below:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8BC_z2lS1BYhS4Cd">Summary of Activity with Respect Status of, RSUs</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Units</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Grant Date Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Outstanding at December 31, 2023</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--StatementClassOfStockAxis__custom--ReverseStockSplitMember_zXyERoeaedr7" style="text-align: right" title="Outstanding Units, Beginning Balance"><span style="-sec-ix-hidden: xdx2ixbrl7118">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--StatementClassOfStockAxis__custom--ReverseStockSplitMember_z1HoQRThGwx" style="text-align: right" title="Weighted Average Grant Date Fair Value, Beginning balance Outstanding"><span style="-sec-ix-hidden: xdx2ixbrl7120">—</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 64%">Granted</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--StatementClassOfStockAxis__custom--ReverseStockSplitMember_zYgSjTcM6W6g" style="width: 14%; text-align: right" title="Units, Granted">42,504</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--StatementClassOfStockAxis__custom--ReverseStockSplitMember_znjKws6xuHV5" style="width: 14%; text-align: right" title="Weighted Average Grant Date Fair Value, Granted">26.50</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisedInPeriod_iN_pid_di_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--StatementClassOfStockAxis__custom--ReverseStockSplitMember_zhYAR9d67mC5" style="text-align: right" title="Units, Exercised">(8,179</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisedWeightedAverageGrantDateFairValue_pid_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--StatementClassOfStockAxis__custom--ReverseStockSplitMember_zhQg66Voi289" style="text-align: right" title="Weighted Average Grant Date Fair Value, Exercised">58.60</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_pid_di_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--StatementClassOfStockAxis__custom--ReverseStockSplitMember_zw49XKPgTy3h" style="border-bottom: Black 1pt solid; text-align: right" title="Units, Forfeited">(247</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--StatementClassOfStockAxis__custom--ReverseStockSplitMember_zH5WNYOSs4O5" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Grant Date Fair Value, Forfeited">218.40</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Outstanding at December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_pid_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--StatementClassOfStockAxis__custom--ReverseStockSplitMember_zWkYXY1nv9Rc" style="border-bottom: Black 2.5pt double; text-align: right" title="Outstanding Units, Ending Balance">34,078</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--StatementClassOfStockAxis__custom--ReverseStockSplitMember_z6dbRjkICZXa" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Grant Date Fair Value, Ending balance Outstanding">17.40</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A7_zxATwR5cdpy9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the year ended December 31, 2024, the Company recorded stock-based compensation expense of $<span id="xdx_901_eus-gaap--AllocatedShareBasedCompensationExpense_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--IncomeStatementLocationAxis__us-gaap--GeneralAndAdministrativeExpenseMember_zLvl2ObRaIMe" title="Stock-based compensation expense">1,034,639</span> which is included in general and administrative expense for the year ended December 31, 2024. As of December 31, 2024, unrecognized compensation cost related to the grant of RSUs was $<span id="xdx_90C_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions_iI_c20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zLycrlVqB5K6" title="Unrecognized compensation cost">37,150</span>. Unvested outstanding RSUs as of December 31, 2024 had a weighted average remaining vesting period of <span id="xdx_900_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zYC3XpvbH4h4" title="Weighted average remaining vesting period">3.37</span> years.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> The aggregate number of shares of common stock that may be purchased pursuant to the Purchase Plan is equal to 2% of the fully diluted common stock determined at the Close of the Merger Agreement, determined to be 1,144. In addition, the aggregate number of shares of common stock that remain available to be awarded under the Purchase Plan, will automatically increase on January 1 of each year for a period of 10 years commencing on January 1, 2024 and ending on January 1, 2033, in an amount equal to the lesser of one percent (1%) of the total number of shares of the fully diluted common stock determined as of December 31 of the preceding year, or a number of shares of common stock equal to two hundred percent (200%) of the initial share reserve of 1,144. 0.02 1144 P10Y 2033-01-01 0.01 2 1144 1156 1144 The aggregate number of shares of common stock that may be issued will not exceed approximately 12.5% of the fully diluted common stock determined at the Close of the Merger, determined to be 7,152. In addition, the aggregate number of shares of common stock that remain available to be awarded under the Plan, will automatically increase on January 1 of each year for a period of ten years commencing on January 1, 2024 and ending on January 1, 2033, in an amount equal to 5% of the total number of shares of the fully diluted common stock determined as of the day prior to such increase. 0.125 7152 2033-01-01 0.05 7152 233 7152 0 <p id="xdx_89A_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zY1XG45m3KN8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table summarizes assumptions used to compute the fair value of options granted:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B0_zCj6omxYKgT8">Summary of Assumptions Used to Compute Fair Value</span> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Stock price</td><td style="width: 2%"> </td> <td style="width: 18%; text-align: right">$<span id="xdx_90F_eus-gaap--SharePrice_iI_pid_c20241231__srt--RangeAxis__srt--MinimumMember_zkQGJ6zQaIRe" title="Stock price">150.00</span> - <span id="xdx_90F_eus-gaap--SharePrice_iI_pid_c20241231__srt--RangeAxis__srt--MaximumMember_zr5fKqb2iYl3" title="Stock price">2,930.00</span></td><td style="width: 2%"> </td> <td style="width: 18%; text-align: right">$<span id="xdx_90A_eus-gaap--SharePrice_iI_pid_c20231231__srt--RangeAxis__srt--MinimumMember_zQfJQqpLEaq1" title="Stock price">4,190.00</span> - <span id="xdx_909_eus-gaap--SharePrice_iI_pid_c20231231__srt--RangeAxis__srt--MaximumMember_zsvxQbGk28sg" title="Stock price">5,990.00</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Exercise price</td><td> </td> <td style="text-align: right">$<span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_pid_c20241231__srt--RangeAxis__srt--MinimumMember_z2onkxAzagQ6" title="Exercise price">58.50</span> - <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_pid_c20241231__srt--RangeAxis__srt--MaximumMember_zgrCLf2RGB77" title="Exercise price">2,500.00</span></td><td> </td> <td style="text-align: right">$<span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_pid_c20231231__srt--RangeAxis__srt--MinimumMember_zGUbDe3t7RZk" title="Exercise price">4,190.00</span> - <span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_pid_c20231231__srt--RangeAxis__srt--MaximumMember_zpeL3JG8XGB5" title="Exercise price">5,990.00</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected volatility</td><td> </td> <td style="text-align: right"><span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20240101__20241231__srt--RangeAxis__srt--MinimumMember_ziixLQ4g2QI3" title="Expected volatility">61.00</span> - <span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20240101__20241231__srt--RangeAxis__srt--MaximumMember_z5zTrpsQMCFe" title="Expected volatility">69.57</span>%</td><td> </td> <td style="text-align: right"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20230101__20231231__srt--RangeAxis__srt--MinimumMember_zT56VL2CUxrh" title="Expected volatility">80.00</span> - <span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20230101__20231231__srt--RangeAxis__srt--MaximumMember_zdtzJNHOexz5" title="Expected volatility">110.95</span>%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected term (in years)</td><td> </td> <td style="text-align: right"><span id="xdx_90B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_pid_dtY_c20240101__20241231__srt--RangeAxis__srt--MinimumMember_zONe2ncbRN0f" title="Expected term (in years)">5.61</span> - <span id="xdx_90D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_pid_dtY_c20240101__20241231__srt--RangeAxis__srt--MaximumMember_z6LhGmHDjqy2" title="Expected term (in years)">6.08</span></td><td> </td> <td style="text-align: right"><span id="xdx_900_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_pid_dtY_c20230101__20231231__srt--RangeAxis__srt--MinimumMember_zv6fOYCd0D8i" title="Expected term (in years)">5.00</span> - <span id="xdx_900_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_pid_dtY_c20230101__20231231__srt--RangeAxis__srt--MaximumMember_znZBwhNnzaG5" title="Expected term (in years)">6.08</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Risk-free interest rate</td><td> </td> <td style="text-align: right"><span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20240101__20241231__srt--RangeAxis__srt--MinimumMember_ztIgVWaeedB9" title="Risk-free interest rate">3.71</span> - <span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20240101__20241231__srt--RangeAxis__srt--MaximumMember_zChPMComEFyg" title="Risk-free interest rate">4.45</span>%</td><td> </td> <td style="text-align: right"><span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20230101__20231231__srt--RangeAxis__srt--MinimumMember_zigOBHfy1yhh" title="Risk-free interest rate">3.46</span> - <span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20230101__20231231__srt--RangeAxis__srt--MaximumMember_zjqIbgIcQ9W2" title="Risk-free interest rate">4.31</span>%</td></tr> </table> 150.00 2930.00 4190.00 5990.00 58.50 2500.00 4190.00 5990.00 0.6100 0.6957 0.8000 1.1095 P5Y7M9D P6Y29D P5Y P6Y29D 0.0371 0.0445 0.0346 0.0431 <p id="xdx_893_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_z2pe9I4jk98h" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A summary of stock option activity under the Plan is as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B8_z8NKfx1CfhI3">Summary of Stock Option Activity</span> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Shares Underlying Options</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Remaining Contractual Term (in years)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Intrinsic Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%">Outstanding at December 31, 2022</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20230101__20231231_zOtRagqZx0xb" style="width: 10%; text-align: right" title="Shares Underlying Options, Beginning balance">635</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20230101__20231231_za7teqUaw6E" style="width: 10%; text-align: right" title="Weighted Average Exercise Price, Beginning Balance">1,052.40</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right"><span id="xdx_901_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20220101__20221231_zo7fKifSWGt3" title="Weighted Average Remaining Contractual Term (in years), Outstanding">7.95</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_c20230101__20231231_zJKRyQK5Cj8f" style="width: 10%; text-align: right" title="Intrinsic Value Outstanding, Beginning Balance">108,253</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20230101__20231231_zmph6zwWoEWk" style="text-align: right" title="Shares Underlying Options, Granted">1,738</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20230101__20231231_zKSLzcvt1aOf" style="text-align: right" title="Weighted Average Exercise Price, Granted">4,964.90</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_pid_di_c20230101__20231231_zw4UfX5wfAsd" style="text-align: right" title="Shares Underlying Options, Exercised">(36</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_c20230101__20231231_zHjSgXBdfrD4" style="text-align: right" title="Weighted Average Exercise Price, Exercised">1,094.60</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue_c20230101__20231231_ztAtkUt8Ql9e" style="text-align: right" title="Intrinsic Value, Exercised">4,480</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Expired</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_iN_pid_di_c20230101__20231231_zkZRTk48bHx3" style="text-align: right" title="Shares Underlying Options, Expired">(13</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice_pid_c20230101__20231231_zCkcyqMjms6f" style="text-align: right" title="Weighted Average Exercise Price, Expired">5,990.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20230101__20231231_zbwMe9VendE5" style="border-bottom: Black 1pt solid; text-align: right" title="Shares Underlying Options, Forfeited">(823</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_c20230101__20231231_zKgOnbUfB5sj" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price, Forfeited">5,785.60</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Outstanding at December 31, 2023</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20240101__20241231_zwfmP8FK6tRa" style="text-align: right" title="Shares Underlying Options, Beginning balance">1,501</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20240101__20241231_zXRPlbz38Psk" style="text-align: right" title="Weighted Average Exercise Price, Beginning Balance">2,914.40</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20230101__20231231_zSmhNXWcCtel" title="Weighted Average Remaining Contractual Term (in years), Outstanding">8.29</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_c20240101__20241231_z38U48asIQi5" style="text-align: right" title="Intrinsic Value Outstanding, Beginning Balance">109,821</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20240101__20241231_zl3aLgxgNTDb" style="text-align: right" title="Shares Underlying Options, Granted">2,845</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20240101__20241231_zrzuskdqOfsi" style="text-align: right" title="Weighted Average Exercise Price, Granted">1,433.40</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_pid_di_c20240101__20241231_zGs5UNXYtOtk" style="text-align: right" title="Shares Underlying Options, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl7068">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_c20240101__20241231_zSs0CJBzMFzc" style="text-align: right" title="Weighted Average Exercise Price, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl7070">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Expired</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_iN_pid_di_c20240101__20241231_zgACMwmHeRMc" style="text-align: right" title="Shares Underlying Options, Exercised">(200</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice_pid_c20240101__20241231_z1yNHaU4Rvs9" style="text-align: right" title="Weighted Average Exercise Price, Expired">3,092.40</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20240101__20241231_zFauGGVqDov4" style="border-bottom: Black 1pt solid; text-align: right" title="Shares Underlying Options, Forfeited">(1,580</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_c20240101__20241231_z2J5FhtMDq1f" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price, Forfeited">2,345.70</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Outstanding at December 31, 2024</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20240101__20241231_zmwkxJ8fl0wl" style="border-bottom: Black 1pt solid; text-align: right" title="Shares Underlying Options, Ending balance">2,566</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20240101__20241231_znZWyIW2h8U9" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price, Beginning Balance">1,618.30</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_900_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240101__20241231_zBrkNpc4Kf3l" title="Weighted Average Remaining Contractual Term (in years), Outstanding">8.52</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_c20240101__20241231_z0ATCTqHNiW7" style="border-bottom: Black 1pt solid; text-align: right" title="Intrinsic Value Outstanding, Ending Balance"><span style="-sec-ix-hidden: xdx2ixbrl7086">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Exercisable at December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_pid_c20240101__20241231_zXLcynFjGBrc" style="border-bottom: Black 2.5pt double; text-align: right" title="Shares Underlying Options, Exercisable">656</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_pid_c20240101__20241231_zTVNX5UXglJl" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Exercise Price, Exercisable">1,596.50</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20240101__20241231_zWdcOu1S8Puc" title="Weighted Average Remaining Contractual Term (in years), Exercisable">6.37</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_987_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iE_pid_c20240101__20241231_z76aaL6g2Lf1" style="border-bottom: Black 2.5pt double; text-align: right" title="Intrinsic Value, Exerciseable"><span style="-sec-ix-hidden: xdx2ixbrl7094">—</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 635 1052.40 P7Y11M12D 108253 1738 4964.90 36 1094.60 4480 13 5990.00 823 5785.60 1501 2914.40 P8Y3M14D 109821 2845 1433.40 200 3092.40 1580 2345.70 2566 1618.30 P8Y6M7D 656 1596.50 P6Y4M13D 131041 1245796 7.15 243.00 212936 2594571 P9Y3M P2Y8M23D P4Y 0.25 <p id="xdx_899_eus-gaap--ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_z3MkMgy0DYii" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A summary of the activity with respect to, and status of, RSUs during the year ended December 31, 2024 is presented below:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8BC_z2lS1BYhS4Cd">Summary of Activity with Respect Status of, RSUs</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Units</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Grant Date Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Outstanding at December 31, 2023</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--StatementClassOfStockAxis__custom--ReverseStockSplitMember_zXyERoeaedr7" style="text-align: right" title="Outstanding Units, Beginning Balance"><span style="-sec-ix-hidden: xdx2ixbrl7118">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--StatementClassOfStockAxis__custom--ReverseStockSplitMember_z1HoQRThGwx" style="text-align: right" title="Weighted Average Grant Date Fair Value, Beginning balance Outstanding"><span style="-sec-ix-hidden: xdx2ixbrl7120">—</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 64%">Granted</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--StatementClassOfStockAxis__custom--ReverseStockSplitMember_zYgSjTcM6W6g" style="width: 14%; text-align: right" title="Units, Granted">42,504</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--StatementClassOfStockAxis__custom--ReverseStockSplitMember_znjKws6xuHV5" style="width: 14%; text-align: right" title="Weighted Average Grant Date Fair Value, Granted">26.50</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisedInPeriod_iN_pid_di_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--StatementClassOfStockAxis__custom--ReverseStockSplitMember_zhYAR9d67mC5" style="text-align: right" title="Units, Exercised">(8,179</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisedWeightedAverageGrantDateFairValue_pid_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--StatementClassOfStockAxis__custom--ReverseStockSplitMember_zhQg66Voi289" style="text-align: right" title="Weighted Average Grant Date Fair Value, Exercised">58.60</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_pid_di_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--StatementClassOfStockAxis__custom--ReverseStockSplitMember_zw49XKPgTy3h" style="border-bottom: Black 1pt solid; text-align: right" title="Units, Forfeited">(247</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--StatementClassOfStockAxis__custom--ReverseStockSplitMember_zH5WNYOSs4O5" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Grant Date Fair Value, Forfeited">218.40</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Outstanding at December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_pid_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--StatementClassOfStockAxis__custom--ReverseStockSplitMember_zWkYXY1nv9Rc" style="border-bottom: Black 2.5pt double; text-align: right" title="Outstanding Units, Ending Balance">34,078</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--StatementClassOfStockAxis__custom--ReverseStockSplitMember_z6dbRjkICZXa" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Grant Date Fair Value, Ending balance Outstanding">17.40</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 42504 26.50 8179 58.60 247 218.40 34078 17.40 1034639 37150 P3Y4M13D <p id="xdx_806_eus-gaap--IncomeTaxDisclosureTextBlock_zXFfAtioKt71" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>20. <span id="xdx_82C_ztjLJsbAHnP4">Income Taxes</span></b></p> <p id="xdx_899_eus-gaap--ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock_zlvYK4G6nFdg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8B9_zdjqcqPk2oz7" style="display: none">Schedule of Components of Net Loss Before Income Taxes</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid">Components of net loss before income taxes:</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20240101__20241231_zntrQ6p0SvI4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20230101__20231231_zit4NmfQ5Zm2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_z187mqQRKpm5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; padding-left: 10pt">United States</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(31,513,389</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(14,406,262</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_zIk6TmAFPlq5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Foreign</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7151">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7152">—</span></td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8A3_zCsqFChVshZ" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_899_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_zN1mndduTj22" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A reconciliation of the statutory U.S. federal income tax rate to the Company’s effective tax rate consists of the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span id="xdx_8B2_z8VjxAMJloN2" style="display: none">Schedule of US Federal Income Tax Rate to the Company's Effective Tax Rate</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Years Ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left">Statutory federal income tax benefit</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_c20240101__20241231_zc412hYhbgXh" style="width: 12%; text-align: right" title="Statutory federal income tax benefit, value">(6,617,812</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_maA123_c20240101__20241231_z0zaD8eZctzi" style="width: 12%; text-align: right" title="Statutory federal income tax benefit, percentage">21.0</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_c20230101__20231231_zKTaRl0U1Mc5" style="width: 12%; text-align: right" title="Statutory federal income tax benefit, value">(3,025,315</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_maA123_c20230101__20231231_zfh4XfEpHzcb" style="width: 12%; text-align: right" title="Statutory federal income tax benefit, percentage">21.0</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">State taxes, net of federal tax benefit</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--IncomeTaxReconciliationStateAndLocalIncomeTaxes_c20240101__20241231_zRhHAei9aEs" style="text-align: right" title="State taxes, net of federal tax benefit, value">(463,682</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_pid_dp_uPure_maA123_c20240101__20241231_z8iV6SlMi98l" style="text-align: right" title="State taxes, net of federal tax benefit, percentage">1.5</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--IncomeTaxReconciliationStateAndLocalIncomeTaxes_c20230101__20231231_zHHyK5nmzVRg" style="text-align: right" title="State taxes, net of federal tax benefit, value">(219,705</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_pid_dp_uPure_maA123_c20230101__20231231_zMzYgWytqzZi" style="text-align: right" title="State taxes, net of federal tax benefit, percentage">1.5</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Change in valuation allowance</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--ChangeInValuationAllowanceAmount_c20240101__20241231_z5z7FBq6cfTa" style="text-align: right" title="Change in valuation allowance, value">2,968,883</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_ecustom--ChangeInValuationAllowance_pid_dp_uPure_maA123_c20240101__20241231_zZotRh9UtAG8" style="text-align: right" title="Change in valuation allowance, percentage">-9.4</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_ecustom--ChangeInValuationAllowanceAmount_c20230101__20231231_zO7eFrb7nFGg" style="text-align: right" title="Change in valuation allowance, value">2,079,231</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--ChangeInValuationAllowance_pid_dp_uPure_maA123_c20230101__20231231_zKcz3xZbN8Lg" style="text-align: right" title="Change in valuation allowance, percentage">-14.4</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Change in state tax rate</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--IncomeTaxReconciliationChangeInEnactedTaxRate_c20240101__20241231_zBUXQE5rmu8k" style="text-align: right" title="Change in state tax rate, value">16,101</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate_pid_dp_uPure_maA123_c20240101__20241231_zcw99PN8AdOl" style="text-align: right" title="Change in state tax rate, percentage">-0.1</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--IncomeTaxReconciliationChangeInEnactedTaxRate_c20230101__20231231_zrKCUsjMP0X6" style="text-align: right" title="Change in state tax rate, value">462,709</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate_pid_dp_uPure_maA123_c20230101__20231231_zsHYmExlpe59" style="text-align: right" title="Change in state tax rate, percentage">-3.2</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Change in fair value estimates</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecustom--EffectiveIncomeTaxRateReconciliationChangeInFairValueEstimates_c20240101__20241231_zK0rISlvENA5" style="text-align: right" title="Change in fair value estimates, value">(107,489</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_ecustom--EffectiveIncomeTaxRateReconciliationChangeInFairValueEstimatesRate_pid_dp_uPure_maA123_c20240101__20241231_zRwmLrBEz5B8" style="text-align: right" title="Change in fair value estimates, percentage">0.3</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_ecustom--EffectiveIncomeTaxRateReconciliationChangeInFairValueEstimates_c20230101__20231231_z45MC1juO8C3" style="text-align: right" title="Change in fair value estimates, value">(2,050,026</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_ecustom--EffectiveIncomeTaxRateReconciliationChangeInFairValueEstimatesRate_pid_dp_uPure_maA123_c20230101__20231231_zD7XhrhwV8Bh" style="text-align: right" title="Change in fair value estimates, percentage">14.2</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Non-deductible interest - IRC 163(l)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_ecustom--IncomeTaxReconciliationNondeductibleInterest_c20240101__20241231_zacgMJsgIo5b" style="text-align: right" title="Non-deductible interest - IRC 163(l), value">516,624</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--IncomeTaxReconciliationNondeductibleInterestRate_pid_dp_uPure_maA123_c20240101__20241231_zCqem7DlmhK6" style="text-align: right" title="Change in fair value estimates, percentage">-1.6</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_ecustom--IncomeTaxReconciliationNondeductibleInterest_c20230101__20231231_zGhLr3T3qmFd" style="text-align: right" title="Non-deductible interest - IRC 163(l), value">738,993</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecustom--IncomeTaxReconciliationNondeductibleInterestRate_pid_dp_uPure_maA123_c20230101__20231231_zJExy62EI5Qa" style="text-align: right" title="Change in fair value estimates, percentage">-5.1</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Non-deductible transaction/restructuring costs</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--IncomeTaxReconciliationNondeductibleExpenseRestructuringCharges_c20240101__20241231_zajh4JN2BMNh" style="text-align: right" title="Non-deductible transaction/restructuring costs, value"><span style="-sec-ix-hidden: xdx2ixbrl7204">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseRestructuringCharges_pid_dp_uPure_maA123_c20240101__20241231_zoempAjymQZ5" style="text-align: right" title="Non-deductible transaction/restructuring costs, percentage">0.0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--IncomeTaxReconciliationNondeductibleExpenseRestructuringCharges_c20230101__20231231_zEadPCbtD7l3" style="text-align: right" title="Non-deductible transaction/restructuring costs, value">1,313,792</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseRestructuringCharges_pid_dp_uPure_maA123_c20230101__20231231_zmZv9Fa0cGo8" style="text-align: right" title="Non-deductible transaction/restructuring costs, percentage">-9.1</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Loss on debt conversion &amp; extinguishment</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_ecustom--IncomeTaxRateReconciliationLossOnDebtConversionAndExtinguishment_c20240101__20241231_z7X4FbH6Fh04" style="text-align: right" title="Loss on debt conversion &amp; extinguishment, value">2,935,747</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_ecustom--EffectiveIncomeTaxRateReconciliationLossOnDebtConversionAndExtinguishmentRate_pid_dp_uPure_maA123_c20240101__20241231_zuBjQ8erlNj8" style="text-align: right" title="Loss on debt conversion &amp; extinguishment, percentage">-9.3</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecustom--IncomeTaxRateReconciliationLossOnDebtConversionAndExtinguishment_c20230101__20231231_za6R4pvO7NY1" style="text-align: right" title="Loss on debt conversion &amp; extinguishment, value"><span style="-sec-ix-hidden: xdx2ixbrl7216">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecustom--EffectiveIncomeTaxRateReconciliationLossOnDebtConversionAndExtinguishmentRate_pid_dp_uPure_maA123_c20230101__20231231_zkDlxnEbxd9g" style="text-align: right" title="Loss on debt conversion &amp; extinguishment, percentage">0.0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Nondeductible warrant issuance expense</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--IncomeTaxReconciliationNondeductibleWarrantIssuanceExpense_c20240101__20241231_zlx05MXK1cU7" style="text-align: right" title="Nondeductible warrant issuance expense, value"><span style="-sec-ix-hidden: xdx2ixbrl7220">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_ecustom--IncomeTaxReconciliationNondeductibleWarrantIssuanceExpenseRate_pid_dp_uPure_maA123_c20240101__20241231_zkTUxSayc9A" style="text-align: right" title="Nondeductible warrant issuance expense, percentage">0.0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_ecustom--IncomeTaxReconciliationNondeductibleWarrantIssuanceExpense_c20230101__20231231_zEA5WWnVJJ9k" style="text-align: right" title="Nondeductible warrant issuance expense, value">552,321</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecustom--IncomeTaxReconciliationNondeductibleWarrantIssuanceExpenseRate_pid_dp_uPure_maA123_c20230101__20231231_zDXvdPk71RY7" style="text-align: right" title="Nondeductible warrant issuance expense, percentage">-3.8</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Impairment of goodwill</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--IncomeTaxReconciliationNondeductibleExpenseImpairmentLosses_c20240101__20241231_zbj84gJHV8Id" style="text-align: right" title="Impairment of goodwill, value">612,511</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseImpairmentLosses_pid_dp_uPure_maA123_c20240101__20241231_zGgkm6AMOqRc" style="text-align: right" title="Impairment of goodwill, percentage">-1.9</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--IncomeTaxReconciliationNondeductibleExpenseImpairmentLosses_c20230101__20231231_z7w8A0gSQfC7" style="text-align: right" title="Impairment of goodwill, value"><span style="-sec-ix-hidden: xdx2ixbrl7232">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseImpairmentLosses_pid_dp_uPure_maA123_c20230101__20231231_ztPgVI9JlRsb" style="text-align: right" title="Impairment of goodwill, percentage">0.0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Other non-deductible expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--IncomeTaxReconciliationNondeductibleExpenseOther_c20240101__20241231_zqA7pjEPnPWk" style="border-bottom: Black 1pt solid; text-align: right" title="Other non-deductible expenses, value">139,117</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther_pid_dp_uPure_maA123_c20240101__20241231_zgnI0aIlktll" style="border-bottom: Black 1pt solid; text-align: right" title="Other non-deductible expenses, percentage">-0.5</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--IncomeTaxReconciliationNondeductibleExpenseOther_c20230101__20231231_zLpBthozB9q" style="border-bottom: Black 1pt solid; text-align: right" title="Other non-deductible expenses, value">148,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther_pid_dp_uPure_maA123_c20230101__20231231_zdZbdRNTsugi" style="border-bottom: Black 1pt solid; text-align: right" title="Other non-deductible expenses, percentage">-1.0</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Effective tax rate</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_98F_eus-gaap--IncomeTaxExpenseBenefit_c20240101__20241231_zELAaKVzR3Ui" style="border-bottom: Black 1pt solid; text-align: right" title="Effective tax rate"><span style="-sec-ix-hidden: xdx2ixbrl7244">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_iT_pid_dp_uPure_mtA123_c20240101__20241231_zDaEsKGQ0DVj" style="border-bottom: Black 1pt solid; text-align: right" title="Effective tax rate, percentage">0.0</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_982_eus-gaap--IncomeTaxExpenseBenefit_c20230101__20231231_ziwq02A6PyAc" style="border-bottom: Black 1pt solid; text-align: right" title="Effective tax rate"><span style="-sec-ix-hidden: xdx2ixbrl7248">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_iT_pid_dp_uPure_mtA123_c20230101__20231231_znL9kZv4mYpc" style="border-bottom: Black 1pt solid; text-align: right" title="Effective tax rate, percentage">0.0</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> </table> <p id="xdx_8AB_zQ8smSFPv6j2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">  </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_890_eus-gaap--ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_zXVhQLPdjlQa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The components of income tax provision (benefit) are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8BE_zc9fnO95FPK2" style="display: none">Schedule of Components of Income Tax Provision (Benefit)</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20240101__20241231_z7SwdFcXuRRj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20230101__20231231_zdZAsWhGuxfk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 68%">Federal:</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"></td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--CurrentFederalTaxExpenseBenefit_zEGvtTdZPGJ9" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Current</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl7254">—</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl7255">—</span></span></td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DeferredFederalIncomeTaxExpenseBenefit_zRpYMy4fgwtc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Deferred</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7257">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7258">—</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">State and Local:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--CurrentStateAndLocalTaxExpenseBenefit_za5TkZND2OUc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Current</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7260">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7261">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredStateAndLocalIncomeTaxExpenseBenefit_zlADOyqUSNfg" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 10pt">Deferred</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7263">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7264">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--IncomeTaxExpenseBenefit_iT_z7D9W3JPlmOj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl7266">—</span></span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl7267">—</span></span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AC_zMu4WQ3dQtJb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Deferred income taxes reflect the net tax effects of temporary differences between the carrying value of assets and liabilities for financial reporting purposes and amounts used for income tax purposes. The temporary differences that give rise to deferred tax assets and liabilities are as follows:</p> <p id="xdx_890_eus-gaap--ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_ztP0see8qu3l" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8BB_zH2nuABjM2oa" style="display: none">Schedule of Temporary Differences that Give Rise to Deferred Tax Assets and Liabilities</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20241231_zpnworM10sEl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20231231_zWUzRsESAXUe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred tax assets (liabilities):</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_maDTAGzFvz_zSsQNpsvNf6k" style="vertical-align: bottom; background-color: White"> <td style="width: 68%; text-align: left; padding-left: 10pt">Net operating loss carryforwards</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">12,347,734</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">6,368,669</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DeferredTaxAssetsCharitableContributionCarryforwards_iI_maDTAGzFvz_zNGtv4FYHNP1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Contribution carryforwards</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">23,718</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">24,626</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--DeferredTaxAssetsTaxCreditCarryforwards_iI_maDTAGzFvz_zOyUfXOzdJsc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Tax credits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">91,889</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7278">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_iI_maDTAGzFvz_zHhX2FurwrNb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Stock-based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">157,165</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">155,404</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--DeferredTaxAssetsAccrualToCashAdjustment_iI_maDTAGzFvz_zft43HjXRqQf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Accrual to cash adjustment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7283">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,299</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--DeferredTaxAssetsTaxStartupCostsAndOtherIntangibles_iI_maDTAGzFvz_zkW0CEjxLtkl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Starup costs &amp; other intangibles</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,700,257</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,816,143</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--DeferredTaxLiabilitiesAcquiredIntangibles_iI_msDTAGzFvz_zw94oVsXz7L9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Acquired intangibles</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(870,569</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7290">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--DeferredTaxAssetsLeaseLiabilities_iI_maDTAGzFvz_zEOyFM39eOW1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Lease Liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,339</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">52,805</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--DeferredTaxLiabilitiesRightOfUseAssets_iI_msDTAGzFvz_zwTKMeqRtFOe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Right of use assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(16,308</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(30,236</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities_iI_maDTAGzFvz_z4FNXC30HTe9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Accrued expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">651,519</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7299">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--DeferredTaxAssetsCapitalizedResearchAndDevelopmentCosts_iI_maDTAGzFvz_zABip1Jfhd26" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Capitalized R&amp;D costs (Sec. 174)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,930,337</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">798,802</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--DeferredTaxAssetsOther_iI_maDTAGzFvz_zgXA40FrHf0c" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; padding-left: 10pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,182</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,363</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxAssetsGross_iTI_mtDTAGzFvz_maDTANzwk9_zpvuefLaLqp2" style="vertical-align: bottom; background-color: White"> <td><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred tax assets</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,040,263</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,184,149</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_di_msDTANzwk9_zjXnJplWNCob" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(16,040,263</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(9,184,149</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxAssetsNet_iTI_mtDTANzwk9_zG8VdkRnXe2k" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Deferred tax assets, net of allowance</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7313">—</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7314">—</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AA_z2g0oYu5F5H6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of December 31, 2024, the Company had federal and state net operating loss carryforwards of approximately $<span id="xdx_90C_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwardsDomestic_iI_c20241231_zEdWj8dNpiif" title="Federal net operating loss carryforwards">50,966,400</span> and $<span id="xdx_900_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal_iI_c20241231_z9j3T6PLtvQa" title="State net operating loss carryforwards">28,244,800</span>, respectively. As of December 31, 2023, the Company had federal and state net operating loss carryforwards of approximately $<span id="xdx_902_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwardsDomestic_iI_c20231231_z7UWxnSDRNQf" title="Federal net operating loss carryforwards">24,014,200</span> and $<span id="xdx_90D_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal_iI_c20231231_zwTlEkmg4jy" title="State net operating loss carryforwards">12,350,800</span>, respectively. Federal losses of $<span id="xdx_908_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwardsSubjectToExpiration_iI_c20241231__us-gaap--IncomeTaxAuthorityAxis__us-gaap--DomesticCountryMember_z4QjOe32BcF6" title="Operating loss carryforwards to expire">1,128,500</span> begin to expire in 2036 and $<span id="xdx_909_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwardsNotSubjectToExpiration_iI_c20241231__us-gaap--IncomeTaxAuthorityAxis__us-gaap--DomesticCountryMember_zgPrGi5Lj3Jb" title="Operating loss carryforwards indefinitely">49,737,900</span> of the federal losses carryforward indefinitely. State losses of $<span id="xdx_90B_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwardsSubjectToExpiration_iI_c20241231__us-gaap--IncomeTaxAuthorityAxis__us-gaap--StateAndLocalJurisdictionMember_zJLPW1Rpna45" title="Operating loss carryforwards to expire">22,175,100</span> begin to expire in 2031 and $<span id="xdx_90A_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwardsNotSubjectToExpiration_iI_c20241231__us-gaap--IncomeTaxAuthorityAxis__us-gaap--StateAndLocalJurisdictionMember_zKkzMt5BNI3a" title="Operating loss carryforwards indefinitely">6,069,700</span> of the state losses carryforward indefinitely. Utilization of the net operating loss carryforwards may be subject to an annual limitation according to Section 382 of the Internal Revenue Code of 1986 as amended, and similar provisions.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has determined, based upon available evidence, that it is more likely than not that all of the net deferred tax assets will not be realized and, accordingly, has provided a full valuation allowance against its net deferred tax asset. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, net operating loss carryback potential, and tax planning strategies in making these assessments.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has determined that it had <span id="xdx_900_eus-gaap--UnrecognizedTaxBenefits_iI_do_c20241231_zXrWA4oXgWMb" title="Uncertain tax benefits"><span id="xdx_900_eus-gaap--UnrecognizedTaxBenefits_iI_do_c20231231_z2SaJ68IKBy" title="Uncertain tax benefits">no</span></span> material uncertain tax benefits for the year ended December 31, 2024, and 2023. The Company recognizes interest accrued related to unrecognized tax benefits and penalties in interest expense and penalties in operating expense. <span id="xdx_90F_eus-gaap--IncomeTaxExaminationPenaltiesAndInterestAccrued_iI_do_c20241231_zV4HbSnsB9r4" title="Interest and penalties"><span id="xdx_909_eus-gaap--IncomeTaxExaminationPenaltiesAndInterestAccrued_iI_do_c20231231_zMpwBDw7Pwx4" title="Interest and penalties">No</span></span> amounts were accrued for the payment of interest and penalties at December 31, 2024, and 2023.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company files tax returns as prescribed by the tax laws of the jurisdictions in which they operate. In the normal course of business, the Company is subject to examination by federal and state jurisdictions where applicable based on the statute of limitations that apply in each jurisdiction. As of December 31, 2024, the <span id="xdx_90E_eus-gaap--OpenTaxYear_c20240101__20241231_zdx8WBWinM52" title="Open years related to all jurisdictions">2017</span> and subsequent tax years related to all jurisdictions remain open.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_905_eus-gaap--IncomeTaxExaminationDescription_c20240101__20241231_zpyBkMBYgr9l" title="Open tax audits, description">The Company has no open tax audits with any taxing authority as of December 31, 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_899_eus-gaap--ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock_zlvYK4G6nFdg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8B9_zdjqcqPk2oz7" style="display: none">Schedule of Components of Net Loss Before Income Taxes</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid">Components of net loss before income taxes:</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20240101__20241231_zntrQ6p0SvI4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20230101__20231231_zit4NmfQ5Zm2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_z187mqQRKpm5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; padding-left: 10pt">United States</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(31,513,389</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(14,406,262</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_zIk6TmAFPlq5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Foreign</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7151">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7152">—</span></td><td style="text-align: left"> </td></tr> </table> -31513389 -14406262 <p id="xdx_899_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_zN1mndduTj22" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A reconciliation of the statutory U.S. federal income tax rate to the Company’s effective tax rate consists of the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span id="xdx_8B2_z8VjxAMJloN2" style="display: none">Schedule of US Federal Income Tax Rate to the Company's Effective Tax Rate</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Years Ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left">Statutory federal income tax benefit</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_c20240101__20241231_zc412hYhbgXh" style="width: 12%; text-align: right" title="Statutory federal income tax benefit, value">(6,617,812</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_maA123_c20240101__20241231_z0zaD8eZctzi" style="width: 12%; text-align: right" title="Statutory federal income tax benefit, percentage">21.0</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_c20230101__20231231_zKTaRl0U1Mc5" style="width: 12%; text-align: right" title="Statutory federal income tax benefit, value">(3,025,315</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_maA123_c20230101__20231231_zfh4XfEpHzcb" style="width: 12%; text-align: right" title="Statutory federal income tax benefit, percentage">21.0</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">State taxes, net of federal tax benefit</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--IncomeTaxReconciliationStateAndLocalIncomeTaxes_c20240101__20241231_zRhHAei9aEs" style="text-align: right" title="State taxes, net of federal tax benefit, value">(463,682</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_pid_dp_uPure_maA123_c20240101__20241231_z8iV6SlMi98l" style="text-align: right" title="State taxes, net of federal tax benefit, percentage">1.5</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--IncomeTaxReconciliationStateAndLocalIncomeTaxes_c20230101__20231231_zHHyK5nmzVRg" style="text-align: right" title="State taxes, net of federal tax benefit, value">(219,705</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_pid_dp_uPure_maA123_c20230101__20231231_zMzYgWytqzZi" style="text-align: right" title="State taxes, net of federal tax benefit, percentage">1.5</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Change in valuation allowance</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--ChangeInValuationAllowanceAmount_c20240101__20241231_z5z7FBq6cfTa" style="text-align: right" title="Change in valuation allowance, value">2,968,883</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_ecustom--ChangeInValuationAllowance_pid_dp_uPure_maA123_c20240101__20241231_zZotRh9UtAG8" style="text-align: right" title="Change in valuation allowance, percentage">-9.4</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_ecustom--ChangeInValuationAllowanceAmount_c20230101__20231231_zO7eFrb7nFGg" style="text-align: right" title="Change in valuation allowance, value">2,079,231</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--ChangeInValuationAllowance_pid_dp_uPure_maA123_c20230101__20231231_zKcz3xZbN8Lg" style="text-align: right" title="Change in valuation allowance, percentage">-14.4</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Change in state tax rate</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--IncomeTaxReconciliationChangeInEnactedTaxRate_c20240101__20241231_zBUXQE5rmu8k" style="text-align: right" title="Change in state tax rate, value">16,101</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate_pid_dp_uPure_maA123_c20240101__20241231_zcw99PN8AdOl" style="text-align: right" title="Change in state tax rate, percentage">-0.1</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--IncomeTaxReconciliationChangeInEnactedTaxRate_c20230101__20231231_zrKCUsjMP0X6" style="text-align: right" title="Change in state tax rate, value">462,709</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate_pid_dp_uPure_maA123_c20230101__20231231_zsHYmExlpe59" style="text-align: right" title="Change in state tax rate, percentage">-3.2</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Change in fair value estimates</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecustom--EffectiveIncomeTaxRateReconciliationChangeInFairValueEstimates_c20240101__20241231_zK0rISlvENA5" style="text-align: right" title="Change in fair value estimates, value">(107,489</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_ecustom--EffectiveIncomeTaxRateReconciliationChangeInFairValueEstimatesRate_pid_dp_uPure_maA123_c20240101__20241231_zRwmLrBEz5B8" style="text-align: right" title="Change in fair value estimates, percentage">0.3</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_ecustom--EffectiveIncomeTaxRateReconciliationChangeInFairValueEstimates_c20230101__20231231_z45MC1juO8C3" style="text-align: right" title="Change in fair value estimates, value">(2,050,026</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_ecustom--EffectiveIncomeTaxRateReconciliationChangeInFairValueEstimatesRate_pid_dp_uPure_maA123_c20230101__20231231_zD7XhrhwV8Bh" style="text-align: right" title="Change in fair value estimates, percentage">14.2</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Non-deductible interest - IRC 163(l)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_ecustom--IncomeTaxReconciliationNondeductibleInterest_c20240101__20241231_zacgMJsgIo5b" style="text-align: right" title="Non-deductible interest - IRC 163(l), value">516,624</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--IncomeTaxReconciliationNondeductibleInterestRate_pid_dp_uPure_maA123_c20240101__20241231_zCqem7DlmhK6" style="text-align: right" title="Change in fair value estimates, percentage">-1.6</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_ecustom--IncomeTaxReconciliationNondeductibleInterest_c20230101__20231231_zGhLr3T3qmFd" style="text-align: right" title="Non-deductible interest - IRC 163(l), value">738,993</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecustom--IncomeTaxReconciliationNondeductibleInterestRate_pid_dp_uPure_maA123_c20230101__20231231_zJExy62EI5Qa" style="text-align: right" title="Change in fair value estimates, percentage">-5.1</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Non-deductible transaction/restructuring costs</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--IncomeTaxReconciliationNondeductibleExpenseRestructuringCharges_c20240101__20241231_zajh4JN2BMNh" style="text-align: right" title="Non-deductible transaction/restructuring costs, value"><span style="-sec-ix-hidden: xdx2ixbrl7204">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseRestructuringCharges_pid_dp_uPure_maA123_c20240101__20241231_zoempAjymQZ5" style="text-align: right" title="Non-deductible transaction/restructuring costs, percentage">0.0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--IncomeTaxReconciliationNondeductibleExpenseRestructuringCharges_c20230101__20231231_zEadPCbtD7l3" style="text-align: right" title="Non-deductible transaction/restructuring costs, value">1,313,792</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseRestructuringCharges_pid_dp_uPure_maA123_c20230101__20231231_zmZv9Fa0cGo8" style="text-align: right" title="Non-deductible transaction/restructuring costs, percentage">-9.1</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Loss on debt conversion &amp; extinguishment</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_ecustom--IncomeTaxRateReconciliationLossOnDebtConversionAndExtinguishment_c20240101__20241231_z7X4FbH6Fh04" style="text-align: right" title="Loss on debt conversion &amp; extinguishment, value">2,935,747</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_ecustom--EffectiveIncomeTaxRateReconciliationLossOnDebtConversionAndExtinguishmentRate_pid_dp_uPure_maA123_c20240101__20241231_zuBjQ8erlNj8" style="text-align: right" title="Loss on debt conversion &amp; extinguishment, percentage">-9.3</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecustom--IncomeTaxRateReconciliationLossOnDebtConversionAndExtinguishment_c20230101__20231231_za6R4pvO7NY1" style="text-align: right" title="Loss on debt conversion &amp; extinguishment, value"><span style="-sec-ix-hidden: xdx2ixbrl7216">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecustom--EffectiveIncomeTaxRateReconciliationLossOnDebtConversionAndExtinguishmentRate_pid_dp_uPure_maA123_c20230101__20231231_zkDlxnEbxd9g" style="text-align: right" title="Loss on debt conversion &amp; extinguishment, percentage">0.0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Nondeductible warrant issuance expense</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--IncomeTaxReconciliationNondeductibleWarrantIssuanceExpense_c20240101__20241231_zlx05MXK1cU7" style="text-align: right" title="Nondeductible warrant issuance expense, value"><span style="-sec-ix-hidden: xdx2ixbrl7220">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_ecustom--IncomeTaxReconciliationNondeductibleWarrantIssuanceExpenseRate_pid_dp_uPure_maA123_c20240101__20241231_zkTUxSayc9A" style="text-align: right" title="Nondeductible warrant issuance expense, percentage">0.0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_ecustom--IncomeTaxReconciliationNondeductibleWarrantIssuanceExpense_c20230101__20231231_zEA5WWnVJJ9k" style="text-align: right" title="Nondeductible warrant issuance expense, value">552,321</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecustom--IncomeTaxReconciliationNondeductibleWarrantIssuanceExpenseRate_pid_dp_uPure_maA123_c20230101__20231231_zDXvdPk71RY7" style="text-align: right" title="Nondeductible warrant issuance expense, percentage">-3.8</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Impairment of goodwill</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--IncomeTaxReconciliationNondeductibleExpenseImpairmentLosses_c20240101__20241231_zbj84gJHV8Id" style="text-align: right" title="Impairment of goodwill, value">612,511</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseImpairmentLosses_pid_dp_uPure_maA123_c20240101__20241231_zGgkm6AMOqRc" style="text-align: right" title="Impairment of goodwill, percentage">-1.9</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--IncomeTaxReconciliationNondeductibleExpenseImpairmentLosses_c20230101__20231231_z7w8A0gSQfC7" style="text-align: right" title="Impairment of goodwill, value"><span style="-sec-ix-hidden: xdx2ixbrl7232">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseImpairmentLosses_pid_dp_uPure_maA123_c20230101__20231231_ztPgVI9JlRsb" style="text-align: right" title="Impairment of goodwill, percentage">0.0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Other non-deductible expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--IncomeTaxReconciliationNondeductibleExpenseOther_c20240101__20241231_zqA7pjEPnPWk" style="border-bottom: Black 1pt solid; text-align: right" title="Other non-deductible expenses, value">139,117</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther_pid_dp_uPure_maA123_c20240101__20241231_zgnI0aIlktll" style="border-bottom: Black 1pt solid; text-align: right" title="Other non-deductible expenses, percentage">-0.5</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--IncomeTaxReconciliationNondeductibleExpenseOther_c20230101__20231231_zLpBthozB9q" style="border-bottom: Black 1pt solid; text-align: right" title="Other non-deductible expenses, value">148,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther_pid_dp_uPure_maA123_c20230101__20231231_zdZbdRNTsugi" style="border-bottom: Black 1pt solid; text-align: right" title="Other non-deductible expenses, percentage">-1.0</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Effective tax rate</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_98F_eus-gaap--IncomeTaxExpenseBenefit_c20240101__20241231_zELAaKVzR3Ui" style="border-bottom: Black 1pt solid; text-align: right" title="Effective tax rate"><span style="-sec-ix-hidden: xdx2ixbrl7244">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_iT_pid_dp_uPure_mtA123_c20240101__20241231_zDaEsKGQ0DVj" style="border-bottom: Black 1pt solid; text-align: right" title="Effective tax rate, percentage">0.0</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_982_eus-gaap--IncomeTaxExpenseBenefit_c20230101__20231231_ziwq02A6PyAc" style="border-bottom: Black 1pt solid; text-align: right" title="Effective tax rate"><span style="-sec-ix-hidden: xdx2ixbrl7248">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_iT_pid_dp_uPure_mtA123_c20230101__20231231_znL9kZv4mYpc" style="border-bottom: Black 1pt solid; text-align: right" title="Effective tax rate, percentage">0.0</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> </table> -6617812 0.210 -3025315 0.210 -463682 0.015 -219705 0.015 2968883 -0.094 2079231 -0.144 16101 -0.001 462709 -0.032 -107489 0.003 -2050026 0.142 516624 -0.016 738993 -0.051 0.000 1313792 -0.091 2935747 -0.093 0.000 0.000 552321 -0.038 612511 -0.019 0.000 139117 -0.005 148000 -0.010 0.000 0.000 <p id="xdx_890_eus-gaap--ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_zXVhQLPdjlQa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The components of income tax provision (benefit) are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8BE_zc9fnO95FPK2" style="display: none">Schedule of Components of Income Tax Provision (Benefit)</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20240101__20241231_z7SwdFcXuRRj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20230101__20231231_zdZAsWhGuxfk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 68%">Federal:</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"></td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--CurrentFederalTaxExpenseBenefit_zEGvtTdZPGJ9" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Current</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl7254">—</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl7255">—</span></span></td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DeferredFederalIncomeTaxExpenseBenefit_zRpYMy4fgwtc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Deferred</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7257">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7258">—</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">State and Local:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--CurrentStateAndLocalTaxExpenseBenefit_za5TkZND2OUc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Current</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7260">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7261">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredStateAndLocalIncomeTaxExpenseBenefit_zlADOyqUSNfg" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 10pt">Deferred</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7263">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7264">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--IncomeTaxExpenseBenefit_iT_z7D9W3JPlmOj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl7266">—</span></span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl7267">—</span></span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_890_eus-gaap--ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_ztP0see8qu3l" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8BB_zH2nuABjM2oa" style="display: none">Schedule of Temporary Differences that Give Rise to Deferred Tax Assets and Liabilities</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20241231_zpnworM10sEl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20231231_zWUzRsESAXUe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred tax assets (liabilities):</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_maDTAGzFvz_zSsQNpsvNf6k" style="vertical-align: bottom; background-color: White"> <td style="width: 68%; text-align: left; padding-left: 10pt">Net operating loss carryforwards</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">12,347,734</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">6,368,669</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DeferredTaxAssetsCharitableContributionCarryforwards_iI_maDTAGzFvz_zNGtv4FYHNP1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Contribution carryforwards</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">23,718</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">24,626</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--DeferredTaxAssetsTaxCreditCarryforwards_iI_maDTAGzFvz_zOyUfXOzdJsc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Tax credits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">91,889</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7278">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_iI_maDTAGzFvz_zHhX2FurwrNb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Stock-based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">157,165</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">155,404</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--DeferredTaxAssetsAccrualToCashAdjustment_iI_maDTAGzFvz_zft43HjXRqQf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Accrual to cash adjustment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7283">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,299</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--DeferredTaxAssetsTaxStartupCostsAndOtherIntangibles_iI_maDTAGzFvz_zkW0CEjxLtkl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Starup costs &amp; other intangibles</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,700,257</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,816,143</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--DeferredTaxLiabilitiesAcquiredIntangibles_iI_msDTAGzFvz_zw94oVsXz7L9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Acquired intangibles</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(870,569</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7290">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--DeferredTaxAssetsLeaseLiabilities_iI_maDTAGzFvz_zEOyFM39eOW1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Lease Liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,339</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">52,805</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--DeferredTaxLiabilitiesRightOfUseAssets_iI_msDTAGzFvz_zwTKMeqRtFOe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Right of use assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(16,308</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(30,236</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities_iI_maDTAGzFvz_z4FNXC30HTe9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Accrued expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">651,519</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7299">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--DeferredTaxAssetsCapitalizedResearchAndDevelopmentCosts_iI_maDTAGzFvz_zABip1Jfhd26" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Capitalized R&amp;D costs (Sec. 174)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,930,337</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">798,802</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--DeferredTaxAssetsOther_iI_maDTAGzFvz_zgXA40FrHf0c" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; padding-left: 10pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,182</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,363</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxAssetsGross_iTI_mtDTAGzFvz_maDTANzwk9_zpvuefLaLqp2" style="vertical-align: bottom; background-color: White"> <td><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred tax assets</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,040,263</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,184,149</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_di_msDTANzwk9_zjXnJplWNCob" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(16,040,263</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(9,184,149</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxAssetsNet_iTI_mtDTANzwk9_zG8VdkRnXe2k" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Deferred tax assets, net of allowance</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7313">—</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7314">—</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 12347734 6368669 23718 24626 91889 157165 155404 1299 1700257 1816143 -870569 16339 52805 -16308 -30236 651519 1930337 798802 8182 -3363 16040263 9184149 16040263 9184149 50966400 28244800 24014200 12350800 1128500 49737900 22175100 6069700 0 0 0 0 2017 The Company has no open tax audits with any taxing authority as of December 31, 2023. <p id="xdx_803_eus-gaap--SegmentReportingDisclosureTextBlock_z0qjMQ7iu6X1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>21. <span id="xdx_822_z1DmffqSoSq7">Segment Reporting</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has <span id="xdx_905_eus-gaap--NumberOfReportableSegments_dc_uInteger_c20240101__20241231_zO6LRbvrKKv9" title="Number of reportable segments"><span id="xdx_909_eus-gaap--NumberOfOperatingSegments_dc_uInteger_c20240101__20241231_zTXykbAKYNrh" title="Number of operating segments">two</span></span> reportable operating segments, Banzai Operating Co., Inc and Banzai Reel Acquisition Inc. (OpenReel). The Company’s segments deliver SaaS tools that leverage data, analytics, and AI to provide marketing and sales solutions for business of all sizes.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our Chief Executive Officer who serves as the Company’s chief operating decision maker (“CODM”), primarily uses segment revenue, gross profit, and adjusted EBITDA to allocate resources and assess performance. <span id="xdx_901_eus-gaap--SegmentReportingCodmProfitLossMeasureHowUsedDescription_c20240101__20241231_zZor4sZxfffk" title="Segment reporting, CODM, profit (loss) measure, how used, description">Segment revenue and gross profit are determined on the same basis as consolidated revenue and consolidated gross profit as shown in the Company’s consolidated statements of operations. Segment adjusted EBITDA is defined as revenue less the following expenses associated with each segment: cost of revenue, people, marketing and advertising, technology, and other segment expenses. Segment adjusted EBITDA excludes certain non-cash items or items that management does not consider reflective of ongoing core operations.</span> Currently, the CODM does not review assets in evaluating the results of the operating segments, and therefore, such information is not presented.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_892_eus-gaap--ScheduleOfSegmentReportingInformationBySegmentTextBlock_zcDWZCk9wx4g" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The table below presents information about reported segments for the year ending December 31, 2024:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8BD_zTZSVXuyEXZj" style="display: none">Summary of Information About Reported Segments</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold">2024</td><td> </td> <td colspan="2" id="xdx_492_20240101__20241231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--BanzaiOperatingMember_zAMx03MT9S1f"> </td><td> </td><td> </td> <td colspan="2" id="xdx_49B_20240101__20241231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--OpenReelMember_z4nlItRGuZMi"> </td><td> </td><td> </td> <td colspan="2" id="xdx_49B_20240101__20241231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zG3C1krJCvRh"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Banzai Operating</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">OpenReel</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total Consolidated</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zlMtxVoY5Cmb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%">Revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">4,305,429</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">222,450</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">4,527,879</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--CostOfRevenue_zAixyWdiCj8e" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Cost of revenue</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,407,564</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">14,978</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,422,542</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--GrossProfit_zCKlqWBxHAr4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Gross profit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,897,865</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">207,472</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,105,337</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.75pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LaborAndRelatedExpense_zeIwCTQDiRMb" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">People</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,209,488</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,642</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,227,130</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--MarketingAndAdvertisingExpense_znXuQrlVK2eh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Marketing and advertising</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,587,085</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,020</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,592,105</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--CommunicationsAndInformationTechnology_z9IhV3NEH6g5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Technology</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">861,775</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">112,429</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">974,204</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OtherExpenses_zwgT5CSr5h81" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Other segment expenses<span id="xdx_F40_ztkuzp7GJ4Nd" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</span></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">811,519</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,856</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">818,375</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OperatingExpenses_zqaqwfr4kRRj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Total expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">9,469,867</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">141,947</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">9,611,814</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_ecustom--AdjustedEBITDAFromContinuingOperations_zXWxrne259Wf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Adjusted EBITDA</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6,572,002</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">65,525</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6,506,477</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_ecustom--OperatingCostsExpensesAndStockBasedCompensation_zVzCrzdPXPZd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Transaction, PubCo. Expenses and Stock-based compensation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,912,309</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7391">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,912,309</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--EarningsBeforeInterestTaxesDepreciationAndAmortisation_zHhWT9BGlqci" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; padding-left: 10pt">EBITDA</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(13,484,311</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">65,525</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(13,418,786</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td id="xdx_F02_znLHu02xNqvl" style="width: 15pt; text-align: right">¹</td><td style="width: 5pt"></td><td id="xdx_F16_zY4DILqkiIWf" style="text-align: justify">Other segment expenses for each reportable segment includes travel and entertainment expenses, professional expenses other than those included in transaction and PubCo. expenses, insurance expenses, and expenses related to licenses.</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The table below presents information about reported segments for the year ending December 31, 2023:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td><b>2023</b></td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_495_20230101__20231231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--BanzaiOperatingMember_zQANFzwBePwl" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_496_20230101__20231231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--OpenReelMember_zr6CJd3XYmqk" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49C_20230101__20231231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zkjLBMNNw2s8" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Banzai Operating</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">OpenReel<span id="xdx_F5D_z4Eb5qtGRLO7" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total Consolidated</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_ziSUlFJYA48b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%">Revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">4,561,300</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7400">—</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">4,561,300</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--CostOfRevenue_zFRO2fKDL8fj" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Cost of revenue</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,444,618</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7404">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,444,618</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--GrossProfit_zanyBnER0PE2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Gross profit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,116,682</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7408">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,116,682</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.75pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--LaborAndRelatedExpense_zxoOOy2ByBX5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">People</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,809,973</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7412">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,809,973</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--MarketingAndAdvertisingExpense_zJJcs74g8dZk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Marketing and advertising</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">941,737</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7416">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">941,737</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--CommunicationsAndInformationTechnology_zZShmxQmK2wb" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Technology</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">628,998</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7420">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">628,998</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--OtherExpenses_z3uTga7bo7Mk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Other segment expenses<span id="xdx_F4E_zekI4nii6an7" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2</span></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7,679,506</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7424">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7,679,506</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--OperatingExpenses_zhZbrtpZWou8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Total expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">15,060,214</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7428">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">15,060,214</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_ecustom--AdjustedEBITDAFromContinuingOperations_zhDThboNO2Jj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Adjusted EBITDA</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(11,943,532</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7432">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(11,943,532</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_ecustom--OperatingCostsExpensesAndStockBasedCompensation_z4qdT23uMXEg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Transaction, PubCo. Expenses and Stock-based compensation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,118,859</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7436">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,118,859</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--EarningsBeforeInterestTaxesDepreciationAndAmortisation_zQKpsthZaErh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; padding-left: 10pt">EBITDA</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(18,062,391</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7440">—</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(18,062,391</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td id="xdx_F0C_zHgRuN9qGaZ9" style="width: 15pt; text-align: right">¹</td><td style="width: 5pt"></td><td id="xdx_F1C_zh2icJj3EN2" style="text-align: justify">The OpenReel acquisition occurred on <span id="xdx_908_eus-gaap--BusinessAcquisitionEffectiveDateOfAcquisition1_pid_dd_c20230101__20231231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember_zBIQRS5EkFQe" title="Business acquisition, effective date of acquisition">December 18, 2024</span> (refer to <i>Note 5</i>) and therefore is presented at $<span id="xdx_903_eus-gaap--OperatingIncomeLoss_pid_c20230101__20231231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember_z0C2qN5Gd6V5" title="Adjusted EBIDTA">0</span> for comparative purposes.</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td id="xdx_F0C_zhrL1rLf3ERd" style="width: 15pt; text-align: right">²</td><td style="width: 5pt"></td><td id="xdx_F18_zCtTAbTLTOd9" style="text-align: justify">Other segment expenses for each reportable segment includes travel and entertainment expenses, professional expenses other than those included in transaction and PubCo. expenses, SEPA commitment fee and deferred fee expense, GEM warrant expense, and GEM commitment fee expense.</td> </tr></table> <p id="xdx_8AD_zBDTJumZkYP1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_896_eus-gaap--ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock_zcwJAMEAYjZh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A reconciliation between reportable segment adjusted EBITDA to consolidated net loss before income taxes for the years ended December 31, 2024, and 2023, is as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8B4_z4JPCQTw7Lgb" style="display: none">Summary of Reconciliation Between Reportable Segment Adjusted EBITDA to Consolidated Net Loss Before Income Taxes</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20240101__20241231_zLUlv4DWUa56" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20230101__20231231_zndciVxTysxi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">EBITDA by segment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--EarningsBeforeInterestTaxesDepreciationAndAmortisation_hus-gaap--StatementBusinessSegmentsAxis__custom--BanzaiOperatingMember_ztJYEBaA6c32" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%; text-align: left">Banzai Operating Co.</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(13,484,311</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(18,062,391</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40B_ecustom--EarningsBeforeInterestTaxesDepreciationAndAmortisation_hus-gaap--StatementBusinessSegmentsAxis__custom--OpenReelMember_zizJDG0NHSO8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">OpenReel</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">65,525</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7455">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--EarningsBeforeInterestTaxesDepreciationAndAmortisation_zPDcrMwvPF4l" style="vertical-align: bottom; background-color: White"> <td>Total</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(13,418,786</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(18,062,391</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.75pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-style: italic; text-align: left">Reconciliation to loss before income taxes:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--ChangesInFairValueOfFinancialInstruments_z0A6jSIEiWQ9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Changes in fair value of financial instruments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(478,288</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(9,154,141</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--InvestmentIncomeInterest_iN_di_zLc3XNuk8Kxh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Interest income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(10</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(813</td><td style="text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--InterestExpenseNonoperating_iN_di_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_zgDlk8ZDTnV3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Interest expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7466">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,068,447</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--InterestExpenseNonoperating_iN_di_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zcAS6zxdu3m" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Interest expense – related party</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,047,101</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,486,027</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--InterestExpenseNonoperating_iN_di_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zwRNKozFifN4" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left">Interest expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,047,101</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,486,027</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--GainLossOnExtinguishmentOfLiabilitiesNet_zRwi9W0sfIY1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Gain (loss) on extinguishment of liabilities, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">390,801</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7476">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--GainLossOnConversionOfLiabilities_zwqEU0MfuQQa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Loss on conversion of liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,338,284</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7479">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--GainsLossesOnDebtIssuance_zjhBHuXzHo9f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loss on debt issuance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">653,208</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7482">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--GemSettlementFeeExpense_iN_di_z0eqDGjMk2i4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">GEM settlement fee expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">200,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7485">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--YorkvillePrepaymentPremiumExpense_zTb7a0dM2PZj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Yorkville prepayment premium expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">80,760</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7488">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--GoodwillImpairmentLoss_znLEAW26qBMc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Goodwill impairment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,725,460</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7491">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--DepreciationDepletionAndAmortization_zNoe7WGOYSx2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Depreciation and amortization</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">24,179</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,160</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--SegmentReportingOtherItemAmount_zCbeu1NfQV6c" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">113,108</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(62,809</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_zueNraCgWBk3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Loss before income taxes</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(31,513,389</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(14,406,262</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> <p id="xdx_8AB_ziiuMD1Cn9yj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Disaggregation of Revenue</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_89A_eus-gaap--ScheduleOfEntityWideInformationRevenueFromExternalCustomersByProductsAndServicesTextBlock_zaGT2H0akmee" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table presents the Company’s revenue generated by SaaS product for the years ended December 31, 2024, and 2023:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span id="xdx_8B9_zQCEJAoIFsLi" style="display: none">Summary of Company's Revenue Generated by Saas Product</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; font-style: italic"> </td> <td colspan="2" id="xdx_498_20240101__20241231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_ztOLr0JOi47" style="font-weight: bold; font-style: italic; text-align: center">Year Ended<br/> December 31,</td><td style="font-weight: bold; font-style: italic"> </td><td style="font-weight: bold; font-style: italic"> </td> <td colspan="2" id="xdx_499_20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_zswU7ZoIfhqj" style="font-weight: bold; font-style: italic; text-align: center">Year Ended<br/> December 31,</td><td style="font-weight: bold; font-style: italic"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-style: italic">Revenue %</td><td style="font-weight: bold; font-style: italic; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; font-style: italic; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold; font-style: italic"> </td><td style="font-weight: bold; font-style: italic; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; font-style: italic; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold; font-style: italic"> </td></tr> <tr id="xdx_404_ecustom--ConcentrationRiskPercentage_dp_uPure_hsrt--ProductOrServiceAxis__custom--ReachMember_zGxugqYW4f2k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Reach</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">3.8</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">4.5</td><td style="width: 1%; text-align: left">%</td></tr> <tr id="xdx_40A_ecustom--ConcentrationRiskPercentage_dp_uPure_hsrt--ProductOrServiceAxis__custom--DemioMember_zWGi4WhUHITh" style="vertical-align: bottom; background-color: White"> <td>Demio</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">91.0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">94.9</td><td style="text-align: left">%</td></tr> <tr id="xdx_40F_ecustom--ConcentrationRiskPercentage_dp_uPure_hsrt--ProductOrServiceAxis__custom--OtherMember_z0hoxOlnosWa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Other<span id="xdx_F45_zvokDqNoQcX8" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</span></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5.2</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">0.6</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> <tr id="xdx_409_ecustom--ConcentrationRiskPercentage_dp_uPure_zB1Gtkee1evb" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">100.0</td><td style="padding-bottom: 2.5pt; text-align: left">%</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">100.0</td><td style="padding-bottom: 2.5pt; text-align: left">%</td></tr> <tr id="xdx_406_ecustom--ConcentrationRiskPercentage_dp_uPure_zyuUJY7FK3u" style="display: none; vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Percentage</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">100.0</td><td style="padding-bottom: 2.5pt; text-align: left">%</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">100.0</td><td style="padding-bottom: 2.5pt; text-align: left">%</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td id="xdx_F0D_zS9d7J1woGak" style="width: 15pt; text-align: right">¹</td><td style="width: 5pt"></td><td id="xdx_F16_zMpvugFBYst1" style="text-align: justify">Other includes Boost sales for the years ended December 31, 2024, and 2023 and OpenReel product sales from acquisition date (refer to <i>Note 5</i>) to December 31, 2024.</td> </tr></table> <p id="xdx_8A6_zqatPh7oXCs2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For disaggregation of revenue by geographic area, refer to <i>Note 7</i>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> 2 2 Segment revenue and gross profit are determined on the same basis as consolidated revenue and consolidated gross profit as shown in the Company’s consolidated statements of operations. Segment adjusted EBITDA is defined as revenue less the following expenses associated with each segment: cost of revenue, people, marketing and advertising, technology, and other segment expenses. Segment adjusted EBITDA excludes certain non-cash items or items that management does not consider reflective of ongoing core operations. <p id="xdx_892_eus-gaap--ScheduleOfSegmentReportingInformationBySegmentTextBlock_zcDWZCk9wx4g" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The table below presents information about reported segments for the year ending December 31, 2024:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8BD_zTZSVXuyEXZj" style="display: none">Summary of Information About Reported Segments</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold">2024</td><td> </td> <td colspan="2" id="xdx_492_20240101__20241231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--BanzaiOperatingMember_zAMx03MT9S1f"> </td><td> </td><td> </td> <td colspan="2" id="xdx_49B_20240101__20241231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--OpenReelMember_z4nlItRGuZMi"> </td><td> </td><td> </td> <td colspan="2" id="xdx_49B_20240101__20241231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zG3C1krJCvRh"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Banzai Operating</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">OpenReel</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total Consolidated</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zlMtxVoY5Cmb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%">Revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">4,305,429</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">222,450</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">4,527,879</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--CostOfRevenue_zAixyWdiCj8e" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Cost of revenue</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,407,564</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">14,978</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,422,542</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--GrossProfit_zCKlqWBxHAr4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Gross profit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,897,865</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">207,472</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,105,337</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.75pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LaborAndRelatedExpense_zeIwCTQDiRMb" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">People</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,209,488</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,642</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,227,130</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--MarketingAndAdvertisingExpense_znXuQrlVK2eh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Marketing and advertising</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,587,085</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,020</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,592,105</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--CommunicationsAndInformationTechnology_z9IhV3NEH6g5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Technology</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">861,775</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">112,429</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">974,204</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OtherExpenses_zwgT5CSr5h81" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Other segment expenses<span id="xdx_F40_ztkuzp7GJ4Nd" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</span></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">811,519</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,856</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">818,375</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OperatingExpenses_zqaqwfr4kRRj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Total expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">9,469,867</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">141,947</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">9,611,814</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_ecustom--AdjustedEBITDAFromContinuingOperations_zXWxrne259Wf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Adjusted EBITDA</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6,572,002</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">65,525</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6,506,477</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_ecustom--OperatingCostsExpensesAndStockBasedCompensation_zVzCrzdPXPZd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Transaction, PubCo. Expenses and Stock-based compensation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,912,309</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7391">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,912,309</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--EarningsBeforeInterestTaxesDepreciationAndAmortisation_zHhWT9BGlqci" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; padding-left: 10pt">EBITDA</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(13,484,311</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">65,525</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(13,418,786</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td id="xdx_F02_znLHu02xNqvl" style="width: 15pt; text-align: right">¹</td><td style="width: 5pt"></td><td id="xdx_F16_zY4DILqkiIWf" style="text-align: justify">Other segment expenses for each reportable segment includes travel and entertainment expenses, professional expenses other than those included in transaction and PubCo. expenses, insurance expenses, and expenses related to licenses.</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The table below presents information about reported segments for the year ending December 31, 2023:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td><b>2023</b></td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_495_20230101__20231231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--BanzaiOperatingMember_zQANFzwBePwl" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_496_20230101__20231231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__custom--OpenReelMember_zr6CJd3XYmqk" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49C_20230101__20231231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zkjLBMNNw2s8" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Banzai Operating</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">OpenReel<span id="xdx_F5D_z4Eb5qtGRLO7" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total Consolidated</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_ziSUlFJYA48b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%">Revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">4,561,300</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7400">—</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">4,561,300</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--CostOfRevenue_zFRO2fKDL8fj" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Cost of revenue</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,444,618</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7404">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,444,618</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--GrossProfit_zanyBnER0PE2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Gross profit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,116,682</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7408">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,116,682</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.75pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--LaborAndRelatedExpense_zxoOOy2ByBX5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">People</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,809,973</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7412">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,809,973</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--MarketingAndAdvertisingExpense_zJJcs74g8dZk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Marketing and advertising</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">941,737</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7416">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">941,737</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--CommunicationsAndInformationTechnology_zZShmxQmK2wb" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Technology</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">628,998</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7420">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">628,998</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--OtherExpenses_z3uTga7bo7Mk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Other segment expenses<span id="xdx_F4E_zekI4nii6an7" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2</span></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7,679,506</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7424">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7,679,506</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--OperatingExpenses_zhZbrtpZWou8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Total expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">15,060,214</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7428">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">15,060,214</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_ecustom--AdjustedEBITDAFromContinuingOperations_zhDThboNO2Jj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Adjusted EBITDA</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(11,943,532</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7432">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(11,943,532</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_ecustom--OperatingCostsExpensesAndStockBasedCompensation_z4qdT23uMXEg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Transaction, PubCo. Expenses and Stock-based compensation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,118,859</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7436">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,118,859</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--EarningsBeforeInterestTaxesDepreciationAndAmortisation_zQKpsthZaErh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; padding-left: 10pt">EBITDA</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(18,062,391</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7440">—</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(18,062,391</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td id="xdx_F0C_zHgRuN9qGaZ9" style="width: 15pt; text-align: right">¹</td><td style="width: 5pt"></td><td id="xdx_F1C_zh2icJj3EN2" style="text-align: justify">The OpenReel acquisition occurred on <span id="xdx_908_eus-gaap--BusinessAcquisitionEffectiveDateOfAcquisition1_pid_dd_c20230101__20231231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember_zBIQRS5EkFQe" title="Business acquisition, effective date of acquisition">December 18, 2024</span> (refer to <i>Note 5</i>) and therefore is presented at $<span id="xdx_903_eus-gaap--OperatingIncomeLoss_pid_c20230101__20231231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--BusinessAcquisitionAxis__custom--OpenReelMember_z0C2qN5Gd6V5" title="Adjusted EBIDTA">0</span> for comparative purposes.</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td id="xdx_F0C_zhrL1rLf3ERd" style="width: 15pt; text-align: right">²</td><td style="width: 5pt"></td><td id="xdx_F18_zCtTAbTLTOd9" style="text-align: justify">Other segment expenses for each reportable segment includes travel and entertainment expenses, professional expenses other than those included in transaction and PubCo. expenses, SEPA commitment fee and deferred fee expense, GEM warrant expense, and GEM commitment fee expense.</td> </tr></table> 4305429 222450 4527879 1407564 14978 1422542 2897865 207472 3105337 6209488 17642 6227130 1587085 5020 1592105 861775 112429 974204 811519 6856 818375 9469867 141947 9611814 -6572002 65525 -6506477 6912309 6912309 -13484311 65525 -13418786 4561300 4561300 1444618 1444618 3116682 3116682 5809973 5809973 941737 941737 628998 628998 7679506 7679506 15060214 15060214 -11943532 -11943532 6118859 6118859 -18062391 -18062391 2024-12-18 0 <p id="xdx_896_eus-gaap--ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock_zcwJAMEAYjZh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A reconciliation between reportable segment adjusted EBITDA to consolidated net loss before income taxes for the years ended December 31, 2024, and 2023, is as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8B4_z4JPCQTw7Lgb" style="display: none">Summary of Reconciliation Between Reportable Segment Adjusted EBITDA to Consolidated Net Loss Before Income Taxes</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20240101__20241231_zLUlv4DWUa56" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20230101__20231231_zndciVxTysxi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">EBITDA by segment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--EarningsBeforeInterestTaxesDepreciationAndAmortisation_hus-gaap--StatementBusinessSegmentsAxis__custom--BanzaiOperatingMember_ztJYEBaA6c32" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%; text-align: left">Banzai Operating Co.</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(13,484,311</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(18,062,391</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40B_ecustom--EarningsBeforeInterestTaxesDepreciationAndAmortisation_hus-gaap--StatementBusinessSegmentsAxis__custom--OpenReelMember_zizJDG0NHSO8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">OpenReel</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">65,525</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7455">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--EarningsBeforeInterestTaxesDepreciationAndAmortisation_zPDcrMwvPF4l" style="vertical-align: bottom; background-color: White"> <td>Total</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(13,418,786</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(18,062,391</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.75pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-style: italic; text-align: left">Reconciliation to loss before income taxes:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--ChangesInFairValueOfFinancialInstruments_z0A6jSIEiWQ9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Changes in fair value of financial instruments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(478,288</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(9,154,141</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--InvestmentIncomeInterest_iN_di_zLc3XNuk8Kxh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Interest income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(10</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(813</td><td style="text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--InterestExpenseNonoperating_iN_di_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_zgDlk8ZDTnV3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Interest expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7466">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,068,447</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--InterestExpenseNonoperating_iN_di_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zcAS6zxdu3m" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Interest expense – related party</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,047,101</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,486,027</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--InterestExpenseNonoperating_iN_di_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zwRNKozFifN4" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left">Interest expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,047,101</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,486,027</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--GainLossOnExtinguishmentOfLiabilitiesNet_zRwi9W0sfIY1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Gain (loss) on extinguishment of liabilities, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">390,801</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7476">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--GainLossOnConversionOfLiabilities_zwqEU0MfuQQa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Loss on conversion of liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,338,284</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7479">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--GainsLossesOnDebtIssuance_zjhBHuXzHo9f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loss on debt issuance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">653,208</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7482">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--GemSettlementFeeExpense_iN_di_z0eqDGjMk2i4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">GEM settlement fee expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">200,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7485">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--YorkvillePrepaymentPremiumExpense_zTb7a0dM2PZj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Yorkville prepayment premium expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">80,760</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7488">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--GoodwillImpairmentLoss_znLEAW26qBMc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Goodwill impairment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,725,460</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl7491">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--DepreciationDepletionAndAmortization_zNoe7WGOYSx2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Depreciation and amortization</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">24,179</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,160</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--SegmentReportingOtherItemAmount_zCbeu1NfQV6c" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">113,108</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(62,809</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_zueNraCgWBk3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Loss before income taxes</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(31,513,389</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(14,406,262</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> -13484311 -18062391 65525 -13418786 -18062391 -478288 -9154141 10 813 -1068447 -3047101 -4486027 -3047101 -4486027 390801 11338284 653208 -200000 80760 2725460 24179 7160 113108 -62809 -31513389 -14406262 <p id="xdx_89A_eus-gaap--ScheduleOfEntityWideInformationRevenueFromExternalCustomersByProductsAndServicesTextBlock_zaGT2H0akmee" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table presents the Company’s revenue generated by SaaS product for the years ended December 31, 2024, and 2023:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span id="xdx_8B9_zQCEJAoIFsLi" style="display: none">Summary of Company's Revenue Generated by Saas Product</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; font-style: italic"> </td> <td colspan="2" id="xdx_498_20240101__20241231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_ztOLr0JOi47" style="font-weight: bold; font-style: italic; text-align: center">Year Ended<br/> December 31,</td><td style="font-weight: bold; font-style: italic"> </td><td style="font-weight: bold; font-style: italic"> </td> <td colspan="2" id="xdx_499_20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_zswU7ZoIfhqj" style="font-weight: bold; font-style: italic; text-align: center">Year Ended<br/> December 31,</td><td style="font-weight: bold; font-style: italic"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-style: italic">Revenue %</td><td style="font-weight: bold; font-style: italic; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; font-style: italic; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold; font-style: italic"> </td><td style="font-weight: bold; font-style: italic; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; font-style: italic; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold; font-style: italic"> </td></tr> <tr id="xdx_404_ecustom--ConcentrationRiskPercentage_dp_uPure_hsrt--ProductOrServiceAxis__custom--ReachMember_zGxugqYW4f2k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Reach</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">3.8</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">4.5</td><td style="width: 1%; text-align: left">%</td></tr> <tr id="xdx_40A_ecustom--ConcentrationRiskPercentage_dp_uPure_hsrt--ProductOrServiceAxis__custom--DemioMember_zWGi4WhUHITh" style="vertical-align: bottom; background-color: White"> <td>Demio</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">91.0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">94.9</td><td style="text-align: left">%</td></tr> <tr id="xdx_40F_ecustom--ConcentrationRiskPercentage_dp_uPure_hsrt--ProductOrServiceAxis__custom--OtherMember_z0hoxOlnosWa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Other<span id="xdx_F45_zvokDqNoQcX8" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</span></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5.2</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">0.6</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> <tr id="xdx_409_ecustom--ConcentrationRiskPercentage_dp_uPure_zB1Gtkee1evb" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">100.0</td><td style="padding-bottom: 2.5pt; text-align: left">%</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">100.0</td><td style="padding-bottom: 2.5pt; text-align: left">%</td></tr> <tr id="xdx_406_ecustom--ConcentrationRiskPercentage_dp_uPure_zyuUJY7FK3u" style="display: none; vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Percentage</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">100.0</td><td style="padding-bottom: 2.5pt; text-align: left">%</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">100.0</td><td style="padding-bottom: 2.5pt; text-align: left">%</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td id="xdx_F0D_zS9d7J1woGak" style="width: 15pt; text-align: right">¹</td><td style="width: 5pt"></td><td id="xdx_F16_zMpvugFBYst1" style="text-align: justify">Other includes Boost sales for the years ended December 31, 2024, and 2023 and OpenReel product sales from acquisition date (refer to <i>Note 5</i>) to December 31, 2024.</td> </tr></table> 0.038 0.045 0.910 0.949 0.052 0.006 1.000 1.000 1.000 1.000 <p id="xdx_807_eus-gaap--SubsequentEventsTextBlock_zFCFVI5Kzg72" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>22. <span id="xdx_826_zcG7K6Bggzl5">Subsequent Events</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Hudson Global Ventures, LLC Consulting Services Agreement</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On January 3, 2025, the Company issued <span id="xdx_901_eus-gaap--CommonStockSharesIssued_iI_c20250103__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--TypeOfArrangementAxis__custom--ConsultingAgreementMember__dei--LegalEntityAxis__custom--HudsonGlobalVenturesLLCMember_zpPVs3ZAaOEe" title="Common stock, shares, issued">15,000</span> restricted shares of its Common Stock, partially in exchange for the business advisory services outlined in the Consulting Agreement with Hudson Global Ventures, LLC, a Nevada limited liability company.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>CP BF Pre-Funded Warrant Exercise</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On January 7, 2025, the Company issued <span id="xdx_909_eus-gaap--SharesIssued_iI_uShares_c20250107__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--ClassOfWarrantOrRightAxis__custom--CPBFPreFundedWarrantMember_zaO2B4GhDe9b" title="Number of shares issued">4</span> shares of Class A Common Stock for exercise of four (<span id="xdx_903_ecustom--NumberOfPrefundWarrants_iI_uShares_c20250107__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--ClassOfWarrantOrRightAxis__custom--CPBFPreFundedWarrantMember_zUGtBT68kzKh" title="Number of prefund warrants">4</span>) pre-funded warrants under the CP BF Pre-Funded Warrant, to CP BF. Refer to Note 11.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Yorkville Advanced Notice Settlements</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On January 3, 2025, the Company settled its outstanding obligation to sell shares of Class A Common Stock related to the fourth Advance Notice issued to Yorkville on December 30, 2024 (see <i>Note 17</i> and <i>Note 18</i>) pursuant to the SEPA. After adjustments to the number of shares originally requested pursuant to the terms of the SEPA, the Company settled the Advance Notice by selling a total of <span id="xdx_904_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20250103__20250103__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_zVCEYR6J9IW4" title="Number of shares issued in transaction">3,049</span> shares of Class A Common Stock to Yorkville for a total purchase price of approximately $<span id="xdx_908_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_c20250103__20250103__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_zuHe4Cjc43Ia" title="Consideration received on transaction">48,000</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Between January 10, 2025 and April 9, 2025, the Company settled the fifth through twenty-second Advance Notices received subsequent to December 31, 2024, by selling an aggregate of <span id="xdx_908_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20250101__20250101__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_zT9CO6bYK905" title="Number of shares issued in transaction">551,631 </span>shares of Class A Common Stock to Yorkville for an aggregate total purchase price of approximately $<span id="xdx_90E_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_c20250101__20250101__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--TypeOfArrangementAxis__custom--YorkvilleStandbyEquityPurchaseAgreementMember_zRe1dmO21tZg" title="Consideration received on transaction">7,097,921</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>RSU Issuance to Executives</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On January 21, 2025, the Company issued <span id="xdx_90B_eus-gaap--SharesIssued_iI_c20250121__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zw2EdBRmxSs1" title="Number of shares, issued">33,777</span> RSUs to executives as part of the Company’s fiscal 2024 bonus plan, following Board approvals.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Convertible promissory note issuance to YA II PN, LTD.</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On January 30, 2025, the Company entered into a convertible promissory note (the “Note”) with Yorkville, in principal amount of $<span id="xdx_90B_eus-gaap--DebtInstrumentFaceAmount_iI_c20250130__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--DebtInstrumentAxis__custom--YorkvilleConvertibleNoteMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember_zI3Rf9WO2ACa" title="Principal amount outstanding">3,500,000</span> as an advance under the outstanding SEPA entered into on December 14, 2023. The maturity date of the note is <span id="xdx_906_eus-gaap--DebtInstrumentMaturityDate_dd_c20250130__20250130__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--DebtInstrumentAxis__custom--YorkvilleConvertibleNoteMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember_znUhm34kQjkb" title="Debt instrument, maturity date">July 31, 2025</span>, and may be extended at the option of the Company. The note was issued with a ten percent (<span id="xdx_90E_ecustom--DebtInstrumentOrginalIssueDiscount_iI_dp_uPure_c20250130__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--DebtInstrumentAxis__custom--YorkvilleConvertibleNoteMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember_z7M4xqqrX7yi" title="Debt instrument orginal issue discount">10</span>%) original issue discount and bears interest at an annual rate of (i) zero percent (<span id="xdx_900_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20250130__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--DebtInstrumentAxis__custom--YorkvilleConvertibleNoteMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember__srt--RangeAxis__srt--MinimumMember_zNnxByu5cVC6" title="Debt instrument interest rate">0</span>%) for the first ninety (90) days following issuance, (ii) six percent (<span id="xdx_904_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20250130__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--DebtInstrumentAxis__custom--YorkvilleConvertibleNoteMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember__srt--RangeAxis__srt--MaximumMember_z15EQ145Gyfd" title="Debt instrument interest rate">6</span>%) thereafter, and (iii) upon the occurrence of an event of default, the interest rate shall increase to an annual rate of eighteen percent (<span id="xdx_90C_eus-gaap--DebtInstrumentInterestRateIncreaseDecrease_dp_uPure_c20250130__20250130__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--DebtInstrumentAxis__custom--YorkvilleConvertibleNoteMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember_zMRTGnzmmHCe" title="Debt instrument interest rate, increase">18</span>%) so long as the event or events of default remain uncured. Interest will be calculated on a 365-day year and the actual number of days elapsed.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company shall repay the note in installments, beginning on February 28, 2025, and continuing on March 31, 2025, and on April 30, 2025 (each, an “Installment Date”) in an amount equal to the sum of (i) $<span id="xdx_90D_eus-gaap--RepaymentsOfConvertibleDebt_c20250130__20250130__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--DebtInstrumentAxis__custom--YorkvilleConvertibleNoteMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember_z3HwTdm5U21f" title="Repayments of convertible promissory note">1,500,000</span> of principal in respect to the first two Installment Dates, and $<span id="xdx_909_eus-gaap--RepaymentsOfConvertibleDebt_c20250130__20250130__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--DebtInstrumentAxis__custom--YorkvilleConvertibleNoteMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember__us-gaap--DebtInstrumentRedemptionPeriodAxis__us-gaap--DebtInstrumentRedemptionPeriodTwoMember_zfLg8rC4HLjg" title="Repayments of convertible promissory note">500,000</span> in respect of the third Installment Date (or the outstanding principal if less than such amount), plus (ii) a payment premium (in an amount equal to <span id="xdx_90E_ecustom--ConvertiblePromissoryNotePaymentPremiumPercentage_dp_uPure_c20250130__20250130__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--DebtInstrumentAxis__custom--YorkvilleConvertibleNoteMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember_zfa2YLJMLUCf" title="Convertible promissory note, payment premium percentage">4</span>% of the principal amount being paid), and (iii) accrued and unpaid interest as of each installment date.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Note is convertible into shares of the Company’s Class A Common Stock, par value $<span id="xdx_903_eus-gaap--CommonStockParOrStatedValuePerShare_iI_uUSDPShares_c20250130__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--DebtInstrumentAxis__custom--YorkvilleConvertibleNoteMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z2wgw3idmZql" title="Common stock, par value">0.0001</span> per share (the “Class A Common Stock”) at a conversion price of $<span id="xdx_900_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_uUSDPShares_c20250130__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--DebtInstrumentAxis__custom--YorkvilleConvertibleNoteMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember_zh1qSb3yCbYe" title="Conversion price per share">2.00</span> per share (the “Conversion Price”). The lender may elect to convert part or all of the outstanding balance of the Note at any time or from time to time after the issuance date. The Company may redeem the outstanding amount at any time, in whole or in part, subject to a <span id="xdx_907_ecustom--ConvertiblePromissoryNotePaymentPremiumPercentage_dp_uPure_c20250130__20250130__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--DebtInstrumentAxis__custom--YorkvilleConvertibleNoteMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember_zeZ5GPhcf4C" title="Convertible promissory note, payment premium percentage">4</span>% premium, provided that (i) the Company provides the lender with at least ten (<span id="xdx_90A_ecustom--MinimumRedemptionNoticePeriod_dtD_uTradingday_c20250130__20250130__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--DebtInstrumentAxis__custom--YorkvilleConvertibleNoteMember__dei--LegalEntityAxis__custom--YorkvilleAdvisorsGlobalLPMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zOgKbXLKetM1" title="Minimum redemption notice period">10</span>) trading days’ prior written notice (each, a “Redemption Notice”) of its desire to redeem the outstanding amount (an “Optional Redemption”), and (ii) on the date the Redemption Notice is issued, the VWAP of the Class A Common Stock is less than the Conversion Price.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Acquisition of Vidello</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On January 31, 2025, the Company closed a previously announced merger with Vidello Limited (“Vidello”), a private limited company registered in England and Wales (the “Vidello Merger”), pursuant to an Merger Agreement (the “Vidello Merger Agreement”), dated December 19, 2024, by and among Vidello, and certain shareholders of Vidello (the “Vidello Shareholders”). At the closing, Vidello Shareholders transferred all the outstanding shares of Vidello to the Company, and Vidello became a direct and wholly owned subsidiary of the Company. At the closing, the Company paid to the Vidello Shareholders, $<span id="xdx_902_eus-gaap--PaymentsToAcquireBusinessesGross_c20250131__20250131__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--BusinessAcquisitionAxis__custom--VidelloLimitedMember_z5wlUoImdqFf" title="Payments to acquire businesses, gross">2,745,031</span> in cash (the “Vidello Cash Consideration”), whereby $<span id="xdx_90D_ecustom--BusinessAcquisitionAmountWithheldForIndemnificationExpensesAndOtherHoldbackProvisions_c20250131__20250131__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--BusinessAcquisitionAxis__custom--VidelloLimitedMember_zfQ3HHHqtKM3" title="Business acquisition, amount withheld for indemnification expenses and other holdback provisions">2,500,000</span> are withheld for indemnification expenses and other holdback provisions in accordance with the Vidello Merger Agreement, and issued <span id="xdx_905_eus-gaap--BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued_c20250131__20250131__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--BusinessAcquisitionAxis__custom--VidelloLimitedMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zYlV5ZnGHHO9" title="Business acquisition, equity interest issued or issuable, number of shares">89,820</span> shares of Class A Common Stock (the “Share Consideration”, together with the Cash Consideration, the “Vidello Closing Consideration”). The Company’s primary reason for acquiring Vidello was to enhance revenue growth and strengthen the Company’s competitive market position through cross selling opportunities.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with and as a condition of closing pursuant to the Vidello Merger Agreement, the Company executed and delivered to each Vidello Shareholder a lock-up agreement (the “Vidello Lock-Up Agreement”), pursuant to which, the shares of Class A Common Stock and any other securities convertible or exercisable into the shares of Class A Common Stock beneficially owned by them, during the <span id="xdx_905_ecustom--BusinessAcquisitionLockUpAgreementPeriod_dtD_uTradingday_c20250131__20250131__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--BusinessAcquisitionAxis__custom--VidelloLimitedMember_zggsQnF54Zbg" title="Business acquisition, lock-up agreement period">180</span>-day period following the closing of the Vidello Merger, not to complete any Prohibited Transfer (as defined in the Vidello Merger Agreement).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Immediately prior to the closing of the Vidello Merger, the directors, and officers of Vidello tendered their resignation, effective at the closing. Pursuant to the Vidello Merger Agreement, the CEO of the Company shall be the sole member of the board of directors of Vidello effective upon the closing of the Vidello Merger.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has begun the process to determine the accounting for the acquisition, including identification of the accounting acquirer and whether the acquisition will be accounted for as a business combination. The Company has begun the process to determine the purchase price allocation for the assets and liabilities including estimating the fair values of intangible and tangible assets. These estimates have not been completed due to the timing and complexity of obtaining information and calculating such amounts.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Acquisition of Act-On Software</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On January 22, 2025, the Company entered into an Agreement and Plan of Merger (the “AO Merger Agreement”) with Act-On Software Inc., a Delaware corporation (“Act-On”), and Banzai Passage Inc., a Delaware corporation and wholly owned subsidiary of Banzai (“Passage”) that was formed solely for purposes of consummating the transactions contemplated in the AO Merger Agreement (the “AO Merger”). Pursuant to the AO Merger Agreement, subject to the satisfaction or waiver of the conditions set forth therein, upon closing of the AO Merger (the “Closing”), Act-On will merge with and into Passage, with Act-On surviving the AO Merger (the “AO Surviving Entity”), thereafter being a direct, wholly owned subsidiary of Banzai. The AO Merger is intended to qualify for federal income tax purposes as a tax-free reorganization under the provisions of Section 368(a) of the Internal Revenue Code of 1986, as amended. Although the Company cannot guarantee that the Act On Merger will close, the Company expects to close the transaction in Q2 2025. The Company’s primary reason for acquiring Act-On was to enhance revenue growth and strengthen the Company’s competitive market position through cross selling opportunities.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Subject to the terms and conditions of the AO Merger Agreement, at the effective time of the Merger (the “AO Effective Time”), the aggregate merger consideration to be issued to Act-On Stockholders and certain Management Employees (as defined in the AO Merger Agreement) shall be a total of approximately $<span id="xdx_90B_eus-gaap--BusinessCombinationConsiderationTransferred1_c20250122__20250122__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--BusinessAcquisitionAxis__custom--ActOnSoftwareIncMember_zJ9jSvh1zx81" title="Business combination, consideration transferred">35,050,000</span>, payable in cash and in shares of our Class A Common Stock, subject to adjustment as set forth in the AO Merger Agreement (the “AO Merger Consideration”). The adjustments to the AO Merger Consideration in the AO Merger Agreement include a customary working capital adjustment based on the amount by which certain working capital items at closing are greater or less than the target working capital as defined in the AO Merger Agreement. In addition to the AO Merger Consideration, at the AO Effective Time, we will fully pay off a certain loan owed to a certain lender of Act-On as of the AO Closing (the “Payoff Amount”) and the out-of-pocket expenses incurred by Act-On in connection with the AO Merger (the “Transaction Expenses”) in cash to Act-On Stockholders, and issue a number of shares of Class A Common Stock (the “AO Share Consideration”) (or pre-funded warrants in lieu thereof, the “AO Pre-Funded Warrants”) to Act-On Stockholders and Management Employees that equal to the quotient of $<span id="xdx_90D_eus-gaap--BusinessAcquisitionEquityInterestIssuedOrIssuableValueAssigned_iI_c20250122__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--BusinessAcquisitionAxis__custom--ActOnSoftwareIncMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z2QZW0JXqRA2" title="Business acquisition, equity interest issued or issuable, value assigned">33,200,000</span> divided by the average of the daily volume-weighted average trading prices of Class A Common Stock for the consecutive five (<span id="xdx_904_ecustom--VolumeWeightedAveragePriceTradingDays_dtD_uTradingday_c20250122__20250122__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--BusinessAcquisitionAxis__custom--ActOnSoftwareIncMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zltUg5Wh3HB6" title="Volume-weighted average price trading days">5</span>) Trading Days (as defined in the AO Merger Agreement) immediately prior to and including the Trading Day immediately preceding the date of closing (the “AO Closing Date”) (the “Banzai 5-Day VWAP”).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Notwithstanding anything in the AO Merger Agreement to the contrary, Banzai shall not issue any shares of Class A Common Stock, to the extent that the issuance of shares of Class A Common Stock as AO Share Consideration would result in the Act-On Stockholders and Management Employees receiving an aggregate number of shares of Class A Common Stock exceeding <span id="xdx_90C_ecustom--PercentageOfNasdaqOwnershipLimitation_dp_uPure_c20250122__20250122__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--BusinessAcquisitionAxis__custom--ActOnSoftwareIncMember__srt--RangeAxis__srt--MinimumMember_z8UquSS7A8r8" title="Percentage of nasdaq ownership limitation">19.99</span>% of the total shares of Class A Common Stock and shares of Class B Common Stock issued and outstanding immediately prior to the AO Effective Time (the “Nasdaq Ownership Limitation”). In addition, notwithstanding anything in the AO Merger Agreement and AO Pre-Funded Warrants to the contrary, Banzai shall not issue any shares of Class A Common Stock, to the extent that any issuance of the shares of Class A Common Stock as AO Share Consideration would result in an Act-On Stockholder or a Management Employee, together with its affiliates, beneficially owning (as determined in accordance with Section 13(d) of the Exchange Act and the rules promulgated thereunder) more than <span id="xdx_90E_ecustom--PercentageOfBeneficialOwnershipLimitation_dp_uPure_c20250122__20250122__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--BusinessAcquisitionAxis__custom--ActOnSoftwareIncMember__srt--RangeAxis__srt--MinimumMember_zGjbt8yLr7T9" title="Percentage of beneficial ownership limitation">4.99</span>% of the Class A Common Stock issued and outstanding immediately following such issuance (the “Beneficial Ownership Limitation” and, together with Nasdaq Ownership Limitation, the “Ownership Limitations”). If and to the extent either of the Ownership Limitations prevents Banzai from issuing AO Share Consideration comprised exclusively of shares of Class A Common Stock, then Banzai instead will issue as AO Share Consideration (i) the maximum number of shares of Class A Common Stock that may be issued without exceeding either Ownership Limitation, and (ii) AO Pre-Funded Warrants exercisable for the number of shares of Class A Common Stock the issuance of which was prevented by application of the Ownership Limitations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Some of the shares of Class A Common Stock and AO Pre-Funded Warrants will be issued to the Management Employees under Banzai’s 2023 equity incentive plan, as amended, pursuant to the registration statement on Form S-8, as amended (File No. 333-278218) and some of the shares of Class A Common Stock and AO Pre-Funded Warrants will be issued to certain Act-On Stockholders and Management Employees in reliance upon exemption provided by Rule 506(b) of Regulation D promulgated thereunder of the Securities Act, pursuant to a subscription booklet (the “Subscription Booklet”).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Each AO Pre-Funded Warrant shall have an exercise price of $<span id="xdx_90C_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20250122__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--BusinessAcquisitionAxis__custom--ActOnSoftwareIncMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zisBDvLsxfej" title="Common stock, par value">0.001</span> per each share of Class A Common Stock issuable thereunder. The AO Pre-Funded Warrants will be registered in Banzai’s books and will not be listed for trading on any stock exchange or trading market. The terms of the AO Pre-Funded Warrants will provide that Banzai shall not issue shares of Class A Common Stock to any holder of a AO Pre-Funded Warrant upon the exercise thereof to the extent that after giving effect to such issuance, such holder would beneficially own a number of shares of Class A Common Stock in excess of the Nasdaq Ownership Limitation. Notwithstanding the foregoing, the Nasdaq Ownership Limitation shall not apply following the receipt of the Banzai stockholder approval contemplated by Rule 5635 of the Nasdaq listing rules with respect to the issuance of shares of Class A Common Stock upon exercise of the AO Pre-Funded Warrants in excess of the Nasdaq Ownership Limitation (the “AO Stockholder Approval”). The AO Pre-Funded Warrants also contain a beneficial ownership limitation that provides that the Company shall not effect any exercise of the AO Pre-Funded Warrants, and the holders of the AO Pre-Funded Warrants shall not have the right to exercise any portion of the AO Pre-Funded Warrants, to the extent that after giving effect to such issuance after exercise, the holder would beneficially own in excess of the Beneficial Ownership Limitation.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Following the Closing, Banzai will convene and hold a special meeting of its stockholders to obtain the AO Stockholder Approval (the “AO Special Meeting”). In connection with the AO Special Meeting, on January 22, 2025, Joseph P. Davy, Banzai’s Chief Executive Officer, who holds approximately <span id="xdx_90D_eus-gaap--BusinessAcquisitionPercentageOfVotingInterestsAcquired_iI_dp_uPure_c20250122__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--BusinessAcquisitionAxis__custom--ActOnSoftwareIncMember__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_z0JXsL7BbGe" title="Business acquisition, percentage of voting interests acquired">78.55</span>% of Banzai’s total voting power as of the date of the AO Merger Agreement, entered into a Voting and Support Agreement, with Banzai (the “Voting and Support Agreement”) that obligates him to vote all the shares of Class B Common Stock beneficially owned by him in favor of the AO Stockholder Approval.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the AO Merger Agreement, Banzai will withhold from the AO Share Consideration a number of shares of Class A Common Stock equal to the quotient of $<span id="xdx_90C_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_c20250122__20250122__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--BusinessAcquisitionAxis__custom--ActOnSoftwareIncMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zzYgh4AEai3j" title="Sale of stock, consideration received on transaction">2,000,000</span> divided by the Banzai’s 5-Day VWAP, as adjusted pursuant to the AO Merger Agreement (the “Indemnification Holdback Amount”), as security for the obligations of Act-On Stockholders pursuant to the AO Merger Agreement. The Indemnification Holdback Amount shall be held for a period of twelve (<span id="xdx_906_ecustom--IndemnificationHoldbackPeriod_dtM_c20250122__20250122__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--BusinessAcquisitionAxis__custom--ActOnSoftwareIncMember_zCn3cFFMiTgl" title="Indemnification holdback period">12</span>) months following the Closing Date (the “Indemnification Holdback Period”) and shall be released to Act-On Stockholders and Management Employees (in accordance with the Allocation Schedule) within ten (10) business days of the expiration of the Indemnification Holdback Period. The released aggregate amount shall be equal to (a) the Indemnification Holdback Amount, as allocated to Act-On Stockholders and Management Employees in accordance with the Allocation Schedule, less (b) any amounts set off against the Indemnification Holdback Amount pursuant to the AO Merger Agreement. The Indemnification Holdback amount shall be held by the Transfer Agent for the benefit of Act-On Stockholders and Management Employees and shall be released to Act-On Stockholders and Management Employees pursuant to the terms of a certain share consideration escrow agreement (the “Escrow Agreement”) by and among Banzai, Act-On, each of Act-On Stockholders and Management Employees and Continental Stock Transfer &amp; Trust Company, a New York limited purpose trust company (the “Escrow Agent”).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On or prior to the consummation of the AO Merger, parties will enter into the Escrow Agreement, pursuant to which, the Escrow Agent shall hold, for the benefit of Banzai, the Indemnification Holdback Amount. The Escrow Agent shall administer the Indemnification Holdback Amount in accordance with the written instructions jointly provided by Banzai and Act-On to the Escrow Agent to release the Indemnification Holdback Amount, or any portion thereof, as set forth in such instruction.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On or prior to the consummation of the AO Merger, Banzai shall execute and deliver to the Act-On Stockholders and Management Employees a registration rights agreement (the “AO Registration Rights Agreement”), pursuant to which, among other things, Banzai will agree to register for resale, within five (5) Business Days (as defined in the AO Merger Agreement) following the AO Closing, on an applicable registration statement under the Securities Act, the shares of Class A Common Stock, to be issued to the Act-On Stockholders and Management Employees pursuant to the AO Merger Agreement and the shares of Class A Common Stock issuable upon exercise of the AO Pre-Funded Warrants.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Closing of the AO Merger by each of Banzai, Merger Sub, and Act-On is subject to customary conditions, including (1) (A) adoption of the AO Merger Agreement by the Act-On Stockholders that hold the requisite percentage necessary to approve the AO Merger under Act-On’s Amended and Restated Certificate of Incorporation and (B) approval of the AO Transaction by Banzai’s board of directors, (2) authorization for listing on the Nasdaq Capital Market of the shares of Class A Common Stock to be issued in the AO Merger, subject to official notice of issuance, and (3) the absence of any order, injunction, decree or other legal restraint preventing the completion of the AO Merger or making the completion of the AO Merger illegal. Each party’s obligation to complete the AO Merger is also subject to certain additional customary conditions, including subject to certain exceptions, the accuracy of the representations and warranties of the other party and performance in all material respects by the other party of its obligations under the AO Merger Agreement. The AO Merger Agreement also contains customary representations, warranties, and indemnities of Banzai and Act-On.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Shares of Class A Common Stock issued to Winterberry</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On February 4, 2025 the Company issued <span id="xdx_905_eus-gaap--SharesIssued_iI_c20250204__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zo2eMCvd9A2a" title="Number of shares, issued">3,000</span> shares to Verista Partners, Inc., aka Winterberry Group, one of its Creditors, in exchange for the cancellation of a portion of the total outstanding debt, in the amount of $<span id="xdx_904_eus-gaap--DebtInstrumentFaceAmount_iI_c20250204__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zGRea30y1gw2" title="Debt instrument face amount">16,666</span>, pursuant to the Debt Reorganization.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>NASDAQ Notice</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As previously reported, the Company had a hearing before the Nasdaq Hearings Panel (the “Panel”) on September 19, 2024. On September 26, 2024, Nasdaq provided the Company with its determination to phase the Company down from the Nasdaq Global Market to the Nasdaq Capital Market (the “Exchange”) and grant the Company an extension until January 31, 2025 to demonstrate compliance with Nasdaq’s listing rules, so long as the company applies to list on the Nasdaq Capital Market on or before October 7, 2024 and demonstrates compliance with Listing Rules 5550(a)(2), 5550(a)(5) and 5550(b)(1) on or before January 31, 2024. On February 12, 2025, the Company received a letter from the Nasdaq Stock Market LLC, Office of the General Counsel that Nasdaq’s Listing Qualifications staff confirmed that the Company has demonstrated compliance with all of the Nasdaq Stock Market’s listing requirements and therefore the Company’s securities will remain listed on the Exchange.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Bridge Note Issuance to Agile Lending, LLC</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On March 31, 2025, the Company issued a subordinated secured promissory note (the “March Agile Note”) for an aggregate principal amount of $<span id="xdx_908_eus-gaap--DebtInstrumentFaceAmount_iI_c20250331__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--DebtInstrumentAxis__custom--MarchAgileNoteMember__us-gaap--LongtermDebtTypeAxis__custom--SubordinatedSecuredPromissoryNoteMember_zakFmqQ8GoW1" title="Debt instrument face amount">4,000,000</span> and received $<span id="xdx_905_eus-gaap--ProceedsFromIssuanceOfSecuredDebt_c20250331__20250331__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--DebtInstrumentAxis__custom--MarchAgileNoteMember__us-gaap--LongtermDebtTypeAxis__custom--SubordinatedSecuredPromissoryNoteMember_zemLeqHkhsV8" title="Proceeds from issuance of secured debt">2,044,105</span> of proceeds, net of administrative agent fees of $<span id="xdx_901_eus-gaap--DebtInstrumentFeeAmount_iI_c20250331__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--DebtInstrumentAxis__custom--MarchAgileNoteMember__us-gaap--LongtermDebtTypeAxis__custom--SubordinatedSecuredPromissoryNoteMember_zqRie0UeekR8" title="Debt instrument, fee amount">200,000</span> paid to the collateral agent, and net of payments to Agile Lending, LLC of $<span id="xdx_904_eus-gaap--RepaymentsOfDebt_c20250331__20250331__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--DebtInstrumentAxis__custom--MarchAgileNoteMember__us-gaap--LongtermDebtTypeAxis__custom--SubordinatedSecuredPromissoryNoteMember_zksdMW81NC07" title="Repayments of debt">1,755,895</span> in respect to early prepayment of the remaining outstanding balance of the December Agile Note, with a maturity date on the March Agile Note of <span id="xdx_90D_eus-gaap--DebtInstrumentMaturityDate_dd_c20250331__20250331__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--DebtInstrumentAxis__custom--MarchAgileNoteMember__us-gaap--LongtermDebtTypeAxis__custom--SubordinatedSecuredPromissoryNoteMember_zHNEPySmSEPk" title="Debt instrument, maturity date">November 12, 2025</span>. The March Agile Note bears interest at a rate of <span id="xdx_902_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20250331__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--DebtInstrumentAxis__custom--MarchAgileNoteMember__us-gaap--LongtermDebtTypeAxis__custom--SubordinatedSecuredPromissoryNoteMember_zYc1597LHfn2" title="Debt instrument, interest rate">44</span>%, and interest will be calculated on a three hundred and sixty (360) day year based on the actual number of days lapsed, and interest shall accrue on the March Agile Note commencing on and including the effective date pursuant to the March Agile Note Agreement’s weekly repayment and amortization schedule.</p> 15000 4 4 3049 48000 551631 7097921 33777 3500000 2025-07-31 0.10 0 0.06 0.18 1500000 500000 0.04 0.0001 2.00 0.04 P10D 2745031 2500000 89820 P180D 35050000 33200000 P5D 0.1999 0.0499 0.001 0.7855 2000000 P12M 3000 16666 4000000 2044105 200000 1755895 2025-11-12 0.44 Certain assets measured at the acquisition date. Measured at period-end. The Company utilized historical equity volatility in measurement of the fair value of the notes. Other segment expenses for each reportable segment includes travel and entertainment expenses, professional expenses other than those included in transaction and PubCo. expenses, insurance expenses, and expenses related to licenses. The OpenReel acquisition occurred on December 18, 2024 and therefore is presented at $0 for comparative purposes. The Vidello acquisition occurred on January 31, 2025 (refer to Note 4) and therefore is presented at $0 for comparative purposes. Other segment expenses for each reportable segment includes travel and entertainment expenses, professional expenses other than those included in transaction and PubCo. expenses, the SEPA commitment fee expense and deferred fee expense, the GEM warrant expense, and the GEM commitment fee expense. Certain assets measured at the acquisition date Measured at year-end impairment testing The Company utilized historical equity volatility in measurement of the fair value of the notes. Includes all of the valuation techniques for each of the fair valued assets above as of the acquisition date (Note 5) Other segment expenses for each reportable segment includes travel and entertainment expenses, professional expenses other than those included in transaction and PubCo. expenses, insurance expenses, and expenses related to licenses. The OpenReel acquisition occurred on December 18, 2024 (refer to Note 5) and therefore is presented at $0 for comparative purposes. Other segment expenses for each reportable segment includes travel and entertainment expenses, professional expenses other than those included in transaction and PubCo. expenses, SEPA commitment fee and deferred fee expense, GEM warrant expense, and GEM commitment fee expense. Other includes Boost sales for the years ended December 31, 2024, and 2023 and OpenReel product sales from acquisition date (refer to Note 5) to December 31, 2024.