0001838163 2024-01-01 2024-03-31 0001838163 dei:BusinessContactMember 2024-01-01 2024-03-31 0001838163 2024-03-31 0001838163 2023-12-31 0001838163 BNAI:SponsorMember 2024-03-31 0001838163 BNAI:SponsorMember 2023-12-31 0001838163 srt:RestatementAdjustmentMember 2024-03-31 0001838163 srt:RestatementAdjustmentMember 2023-12-31 0001838163 2022-12-31 0001838163 us-gaap:RelatedPartyMember 2023-12-31 0001838163 us-gaap:RelatedPartyMember 2022-12-31 0001838163 2023-01-01 2023-03-31 0001838163 BNAI:RedeemableCommonStockMember us-gaap:CommonClassAMember 2024-01-01 2024-03-31 0001838163 BNAI:RedeemableCommonStockMember us-gaap:CommonClassAMember 2023-01-01 2023-03-31 0001838163 2023-01-01 2023-12-31 0001838163 2022-01-01 2022-12-31 0001838163 us-gaap:PreferredStockMember 2023-12-31 0001838163 us-gaap:CommonStockMember 2023-12-31 0001838163 us-gaap:AdditionalPaidInCapitalMember 2023-12-31 0001838163 us-gaap:RetainedEarningsMember 2023-12-31 0001838163 us-gaap:CommonClassBMember us-gaap:CommonStockMember 2023-12-31 0001838163 us-gaap:PreferredStockMember 2022-12-31 0001838163 us-gaap:CommonStockMember 2022-12-31 0001838163 us-gaap:AdditionalPaidInCapitalMember 2022-12-31 0001838163 us-gaap:RetainedEarningsMember 2022-12-31 0001838163 us-gaap:CommonClassBMember us-gaap:CommonStockMember 2022-12-31 0001838163 srt:ScenarioPreviouslyReportedMember us-gaap:PreferredStockMember 2020-12-31 0001838163 srt:ScenarioPreviouslyReportedMember us-gaap:CommonStockMember 2020-12-31 0001838163 srt:ScenarioPreviouslyReportedMember us-gaap:AdditionalPaidInCapitalMember 2020-12-31 0001838163 srt:ScenarioPreviouslyReportedMember us-gaap:RetainedEarningsMember 2020-12-31 0001838163 2020-12-31 0001838163 us-gaap:PreferredStockMember 2021-12-31 0001838163 us-gaap:CommonStockMember 2020-12-31 0001838163 us-gaap:PreferredStockMember 2020-12-31 0001838163 srt:ScenarioPreviouslyReportedMember us-gaap:PreferredStockMember 2022-12-31 0001838163 srt:ScenarioPreviouslyReportedMember us-gaap:CommonStockMember 2022-12-31 0001838163 srt:ScenarioPreviouslyReportedMember us-gaap:AdditionalPaidInCapitalMember 2022-12-31 0001838163 srt:ScenarioPreviouslyReportedMember us-gaap:RetainedEarningsMember 2022-12-31 0001838163 us-gaap:PreferredStockMember 2024-01-01 2024-03-31 0001838163 us-gaap:CommonStockMember 2024-01-01 2024-03-31 0001838163 us-gaap:AdditionalPaidInCapitalMember 2024-01-01 2024-03-31 0001838163 us-gaap:RetainedEarningsMember 2024-01-01 2024-03-31 0001838163 us-gaap:CommonClassBMember us-gaap:CommonStockMember 2024-01-01 2024-03-31 0001838163 us-gaap:PreferredStockMember 2023-01-01 2023-03-31 0001838163 us-gaap:CommonStockMember 2023-01-01 2023-03-31 0001838163 us-gaap:AdditionalPaidInCapitalMember 2023-01-01 2023-03-31 0001838163 us-gaap:RetainedEarningsMember 2023-01-01 2023-03-31 0001838163 us-gaap:CommonClassBMember us-gaap:CommonStockMember 2023-01-01 2023-03-31 0001838163 srt:ScenarioPreviouslyReportedMember us-gaap:PreferredStockMember 2021-01-01 2021-12-31 0001838163 srt:ScenarioPreviouslyReportedMember us-gaap:CommonStockMember 2021-01-01 2021-12-31 0001838163 srt:ScenarioPreviouslyReportedMember us-gaap:AdditionalPaidInCapitalMember 2021-01-01 2021-12-31 0001838163 srt:ScenarioPreviouslyReportedMember us-gaap:RetainedEarningsMember 2021-01-01 2021-12-31 0001838163 2021-01-01 2021-12-31 0001838163 us-gaap:CommonStockMember 2021-01-01 2021-12-31 0001838163 srt:ScenarioPreviouslyReportedMember us-gaap:PreferredStockMember 2023-01-01 2023-12-31 0001838163 srt:ScenarioPreviouslyReportedMember us-gaap:CommonStockMember 2023-01-01 2023-12-31 0001838163 srt:ScenarioPreviouslyReportedMember us-gaap:AdditionalPaidInCapitalMember 2023-01-01 2023-12-31 0001838163 srt:ScenarioPreviouslyReportedMember us-gaap:RetainedEarningsMember 2023-01-01 2023-12-31 0001838163 us-gaap:CommonStockMember 2023-01-01 2023-12-31 0001838163 us-gaap:PreferredStockMember 2024-03-31 0001838163 us-gaap:CommonStockMember 2024-03-31 0001838163 us-gaap:AdditionalPaidInCapitalMember 2024-03-31 0001838163 us-gaap:RetainedEarningsMember 2024-03-31 0001838163 us-gaap:CommonClassBMember us-gaap:CommonStockMember 2024-03-31 0001838163 us-gaap:PreferredStockMember 2023-03-31 0001838163 us-gaap:CommonStockMember 2023-03-31 0001838163 us-gaap:AdditionalPaidInCapitalMember 2023-03-31 0001838163 us-gaap:RetainedEarningsMember 2023-03-31 0001838163 2023-03-31 0001838163 us-gaap:CommonClassBMember us-gaap:CommonStockMember 2023-03-31 0001838163 srt:ScenarioPreviouslyReportedMember us-gaap:PreferredStockMember 2023-12-31 0001838163 srt:ScenarioPreviouslyReportedMember us-gaap:CommonStockMember 2023-12-31 0001838163 srt:ScenarioPreviouslyReportedMember us-gaap:AdditionalPaidInCapitalMember 2023-12-31 0001838163 srt:ScenarioPreviouslyReportedMember us-gaap:RetainedEarningsMember 2023-12-31 0001838163 2021-12-31 0001838163 us-gaap:CommonClassAMember BNAI:DHCMember 2024-03-14 0001838163 us-gaap:CommonStockMember BNAI:BENMember 2024-03-14 0001838163 BNAI:PublicWarrantMember 2024-03-14 0001838163 BNAI:PrivatePlacementWarrantMember 2024-03-14 0001838163 2024-03-14 2024-03-14 0001838163 2023-04-30 0001838163 country:KR 2024-03-31 0001838163 country:KR 2023-12-31 0001838163 BNAI:PublicWarrantMember us-gaap:FairValueInputsLevel1Member 2024-03-31 0001838163 BNAI:PublicWarrantMember us-gaap:FairValueInputsLevel2Member 2024-03-31 0001838163 BNAI:PublicWarrantMember us-gaap:FairValueInputsLevel3Member 2024-03-31 0001838163 BNAI:PrivatePlacementWarrantMember us-gaap:FairValueInputsLevel1Member 2024-03-31 0001838163 BNAI:PrivatePlacementWarrantMember us-gaap:FairValueInputsLevel2Member 2024-03-31 0001838163 BNAI:PrivatePlacementWarrantMember us-gaap:FairValueInputsLevel3Member 2024-03-31 0001838163 us-gaap:EmployeeStockOptionMember 2024-01-01 2024-03-31 0001838163 us-gaap:EmployeeStockOptionMember 2023-01-01 2023-03-31 0001838163 us-gaap:WarrantMember 2024-01-01 2024-03-31 0001838163 us-gaap:WarrantMember 2023-01-01 2023-03-31 0001838163 BNAI:CombinedCompanyMember BNAI:PriorBENShareholdersMember 2024-03-14 0001838163 us-gaap:AdditionalPaidInCapitalMember BNAI:DHCMember 2024-03-31 0001838163 BNAI:DHCMember us-gaap:GeneralAndAdministrativeExpenseMember 2024-03-31 0001838163 BNAI:DHCMember 2024-01-01 2024-03-31 0001838163 BNAI:DHCMember 2024-03-14 0001838163 BNAI:DMLabCoLTDMember BNAI:AssetPurchaseAgreementMember 2023-05-03 2023-05-03 0001838163 BNAI:DMLabCoLTDMember BNAI:AssetPurchaseAgreementMember 2023-05-03 0001838163 BNAI:DMLabCoLTDMember us-gaap:CommonStockMember BNAI:AssetPurchaseAgreementMember 2023-05-03 2023-05-03 0001838163 BNAI:DMLabCoLTDMember 2023-05-03 0001838163 BNAI:FurnitureAndEquipmentMember 2024-03-31 0001838163 srt:MinimumMember BNAI:CapitalizedSoftwareMember 2024-03-31 0001838163 srt:MaximumMember BNAI:CapitalizedSoftwareMember 2024-03-31 0001838163 BNAI:FurnitureAndEquipmentMember 2023-12-31 0001838163 srt:MinimumMember BNAI:CapitalizedSoftwareMember 2023-12-31 0001838163 srt:MaximumMember BNAI:CapitalizedSoftwareMember 2023-12-31 0001838163 us-gaap:EquipmentMember 2024-03-31 0001838163 us-gaap:EquipmentMember 2023-12-31 0001838163 us-gaap:FurnitureAndFixturesMember 2024-03-31 0001838163 us-gaap:FurnitureAndFixturesMember 2023-12-31 0001838163 BNAI:CapitalizedSoftwareMember 2024-03-31 0001838163 BNAI:CapitalizedSoftwareMember 2023-12-31 0001838163 us-gaap:PatentsMember 2024-03-31 0001838163 us-gaap:InProcessResearchAndDevelopmentMember 2024-03-31 0001838163 us-gaap:PatentsMember 2023-12-31 0001838163 us-gaap:InProcessResearchAndDevelopmentMember 2023-12-31 0001838163 us-gaap:PatentsMember 2022-12-31 0001838163 BNAI:DMLabMember 2024-03-31 0001838163 BNAI:DMLabMember 2024-01-01 2024-03-31 0001838163 srt:MinimumMember BNAI:DMLabMember 2024-01-01 2024-03-31 0001838163 srt:MaximumMember BNAI:DMLabMember 2024-01-01 2024-03-31 0001838163 BNAI:DMLabMember 2023-01-01 2023-03-31 0001838163 BNAI:DMLabMember 2023-12-31 0001838163 BNAI:DMLabMember 2023-01-01 2023-12-31 0001838163 srt:MinimumMember BNAI:DMLabMember 2023-01-01 2023-12-31 0001838163 srt:MaximumMember BNAI:DMLabMember 2023-01-01 2023-12-31 0001838163 BNAI:DMLabMember 2022-01-01 2022-12-31 0001838163 us-gaap:SubsequentEventMember 2024-02-29 0001838163 us-gaap:SubsequentEventMember 2024-02-01 2024-02-29 0001838163 2024-03-14 0001838163 BNAI:AFGCompaniesIncMember 2024-03-01 2024-03-31 0001838163 2023-08-01 2023-08-31 0001838163 BNAI:AFGCompaniesIncMember 2023-08-01 2023-08-31 0001838163 2023-08-31 0001838163 us-gaap:WarrantMember 2023-08-31 0001838163 BNAI:PublicWarrantsMember 2024-03-31 0001838163 BNAI:PrivatePlacementWarrantsMember 2024-03-31 0001838163 us-gaap:WarrantMember 2024-03-31 0001838163 BNAI:TwentyTwentyFourPlanMember 2024-03-31 0001838163 us-gaap:OtherIncomeMember 2022-01-01 2022-12-31 0001838163 us-gaap:WarrantMember 2022-12-31 0001838163 us-gaap:WarrantMember 2022-01-01 2022-12-31 0001838163 BNAI:EquityCompensationPlansMember 2021-05-31 0001838163 us-gaap:WarrantMember 2023-01-01 2023-03-31 0001838163 us-gaap:WarrantMember 2024-01-01 2024-03-31 0001838163 us-gaap:SoftwareDevelopmentMember 2023-01-01 2023-12-31 0001838163 us-gaap:OperatingIncomeLossMember 2023-01-01 2023-12-31 0001838163 us-gaap:WarrantMember 2023-01-01 2023-12-31 0001838163 us-gaap:EmployeeStockOptionMember 2024-01-01 2024-03-31 0001838163 us-gaap:EmployeeStockOptionMember 2023-01-01 2023-03-31 0001838163 us-gaap:EmployeeStockOptionMember 2023-01-01 2023-12-31 0001838163 srt:ScenarioPreviouslyReportedMember 2022-12-31 0001838163 srt:ScenarioPreviouslyReportedMember 2023-01-01 2023-12-31 0001838163 srt:ScenarioPreviouslyReportedMember 2023-12-31 0001838163 us-gaap:MeasurementInputExpectedTermMember us-gaap:WarrantMember 2024-03-31 0001838163 us-gaap:MeasurementInputExpectedTermMember us-gaap:WarrantMember 2023-03-31 0001838163 us-gaap:MeasurementInputRiskFreeInterestRateMember us-gaap:WarrantMember 2024-03-31 0001838163 us-gaap:MeasurementInputRiskFreeInterestRateMember us-gaap:WarrantMember 2023-03-31 0001838163 us-gaap:MeasurementInputExpectedDividendRateMember us-gaap:WarrantMember 2024-03-31 0001838163 us-gaap:MeasurementInputExpectedDividendRateMember us-gaap:WarrantMember 2023-03-31 0001838163 us-gaap:MeasurementInputOptionVolatilityMember us-gaap:WarrantMember 2024-03-31 0001838163 us-gaap:MeasurementInputOptionVolatilityMember us-gaap:WarrantMember 2023-03-31 0001838163 us-gaap:MeasurementInputExpectedTermMember us-gaap:WarrantMember 2023-12-31 0001838163 us-gaap:MeasurementInputRiskFreeInterestRateMember us-gaap:WarrantMember 2023-12-31 0001838163 us-gaap:MeasurementInputExpectedDividendRateMember us-gaap:WarrantMember 2023-12-31 0001838163 us-gaap:MeasurementInputOptionVolatilityMember us-gaap:WarrantMember 2023-12-31 0001838163 us-gaap:GeneralAndAdministrativeExpenseMember 2024-01-01 2024-03-31 0001838163 us-gaap:GeneralAndAdministrativeExpenseMember 2023-01-01 2023-03-31 0001838163 us-gaap:ResearchAndDevelopmentExpenseMember 2024-01-01 2024-03-31 0001838163 us-gaap:ResearchAndDevelopmentExpenseMember 2023-01-01 2023-03-31 0001838163 us-gaap:GeneralAndAdministrativeExpenseMember 2023-01-01 2023-12-31 0001838163 us-gaap:GeneralAndAdministrativeExpenseMember 2022-01-01 2022-12-31 0001838163 us-gaap:ResearchAndDevelopmentExpenseMember 2023-01-01 2023-12-31 0001838163 us-gaap:ResearchAndDevelopmentExpenseMember 2022-01-01 2022-12-31 0001838163 BNAI:AFGCompaniesIncMember 2023-08-19 2023-08-19 0001838163 2023-08-19 2023-08-19 0001838163 2023-08-19 0001838163 us-gaap:AccountsPayableAndAccruedLiabilitiesMember us-gaap:RelatedPartyMember 2024-03-31 0001838163 srt:RestatementAdjustmentMember us-gaap:RelatedPartyMember 2023-12-31 0001838163 us-gaap:RelatedPartyMember 2024-01-01 2024-03-31 0001838163 us-gaap:RelatedPartyMember 2023-01-01 2023-03-31 0001838163 us-gaap:RelatedPartyMember BNAI:PromissoryNoteAgreementMember 2023-06-30 0001838163 us-gaap:RelatedPartyMember BNAI:PromissoryNoteAgreementMember 2023-06-30 2023-06-30 0001838163 us-gaap:RelatedPartyMember BNAI:PromissoryNoteAgreementMember 2024-03-31 0001838163 us-gaap:RelatedPartyMember BNAI:PromissoryNoteAgreementMember 2024-01-01 2024-03-31 0001838163 us-gaap:AccountsPayableAndAccruedLiabilitiesMember us-gaap:RelatedPartyMember 2023-12-31 0001838163 us-gaap:RelatedPartyMember 2023-01-01 2023-12-31 0001838163 us-gaap:RelatedPartyMember 2022-01-01 2022-12-31 0001838163 BNAI:KoreaUniversityMember BNAI:ResearchAndDevelopmentSponsorshipAgreementOneMember 2023-04-01 2023-12-31 0001838163 BNAI:KoreaUniversityMember BNAI:ResearchAndDevelopmentSponsorshipAgreementOneMember 2024-03-31 0001838163 BNAI:KoreaUniversityMember BNAI:ResearchAndDevelopmentSponsorshipAgreementTwoMember 2023-11-01 2024-03-10 0001838163 BNAI:KoreaUniversityMember BNAI:ResearchAndDevelopmentSponsorshipAgreementTwoMember 2024-01-01 2024-03-31 0001838163 BNAI:KoreaUniversityMember srt:MaximumMember us-gaap:SubsequentEventMember BNAI:ResearchAndDevelopmentSponsorshipAgreementTwoMember 2024-01-01 2024-12-31 0001838163 BNAI:KoreaUniversityMember srt:MaximumMember BNAI:ResearchAndDevelopmentSponsorshipAgreementTwoMember 2024-01-01 2024-03-31 0001838163 BNAI:KoreaUniversityMember BNAI:ResearchAndDevelopmentSponsorshipAgreementTwoMember 2024-03-31 0001838163 BNAI:KoreaUniversityMember BNAI:ResearchAndDevelopmentSponsorshipAgreementOneMember 2023-12-31 2023-12-31 0001838163 BNAI:KoreaUniversityMember BNAI:ResearchAndDevelopmentSponsorshipAgreementOneMember 2023-12-31 0001838163 BNAI:KoreaUniversityMember us-gaap:SubsequentEventMember BNAI:ResearchAndDevelopmentSponsorshipAgreementTwoMember 2023-11-01 2024-03-10 0001838163 BNAI:KoreaUniversityMember BNAI:ResearchAndDevelopmentSponsorshipAgreementTwoMember 2023-12-31 2023-12-31 0001838163 BNAI:KoreaUniversityMember BNAI:ResearchAndDevelopmentSponsorshipAgreementTwoMember 2023-12-31 0001838163 BNAI:ConvertiblePromissoryNoteDueMarch2025Member us-gaap:SubsequentEventMember 2024-04-12 0001838163 BNAI:ConvertiblePromissoryNoteMember us-gaap:SubsequentEventMember 2024-04-12 0001838163 BNAI:ConvertiblePromissoryNoteMember us-gaap:SubsequentEventMember 2024-12-14 0001838163 BNAI:CohenConvertibleNoteMember us-gaap:SubsequentEventMember 2024-12-14 0001838163 BNAI:ConvertiblePromissoryNoteMember us-gaap:SubsequentEventMember 2024-12-14 2024-12-14 0001838163 us-gaap:SubsequentEventMember 2024-01-01 2024-02-29 0001838163 BNAI:DhcAcquisitionCorpMember us-gaap:SubsequentEventMember 2024-03-14 2024-03-14 0001838163 BNAI:DhcAcquisitionCorpMember us-gaap:SubsequentEventMember 2024-03-14 0001838163 BNAI:ShareholdersOfDHCSponsorsAndAdvisorsMember us-gaap:SubsequentEventMember 2024-03-14 0001838163 BNAI:AFGCompaniesIncMember us-gaap:SubsequentEventMember BNAI:ResellerAgreementMember 2024-03-14 2024-03-14 0001838163 BNAI:AFGCompaniesIncMember us-gaap:SubsequentEventMember BNAI:ResellerAgreementMember 2024-03-14 0001838163 BNAI:AFGCompaniesIncMember us-gaap:SubsequentEventMember BNAI:BusinessCombinationAgreementMember 2024-03-14 2024-03-14 0001838163 us-gaap:EmployeeStockOptionMember 2023-01-01 2023-12-31 0001838163 us-gaap:EmployeeStockOptionMember 2022-01-01 2022-12-31 0001838163 us-gaap:WarrantMember 2023-01-01 2023-12-31 0001838163 us-gaap:WarrantMember 2022-01-01 2022-12-31 0001838163 BNAI:ConvertibleNotesMember 2023-12-31 0001838163 BNAI:ConvertibleNotesMember 2023-01-01 2023-12-31 iso4217:USD shares iso4217:USD shares pure iso4217:KRW utr:Y BNAI:Integer false 0001838163

P3Y

S-1 BRAND ENGAGEMENT NETWORK INC. DE 98-1574798 145 E. Snow King Ave PO Box 1045 Jackson WY 83001 Paul Chang 145 E. Snow King Ave PO Box 1045 Jackson WY 83001 Non-accelerated Filer true true false

3304283

1685013

7500

10000

3000

1038993

201293

4353776

1896306

1176235

802557

17847086

17882147

13475000

1427729

36852097

22008739

4416613

1282974

7773389

1637048

693036

2290

223300

13106338

3145612

1974560

500000

668674

16249572

4314286

0.0001

10000000

0.0001

750000000

33592055

23270404

3360

2327

40785294

30993846

-20186129

-13301720

20602525

17694453

36852097

22008739

49790

6480535

2616724

117347

19232

250671

2000

6848553

2637956

-6798763

-2637956

25050

3118

60823

-2891

-85646

-6884409

-2637956

-0.27

-0.15

25233890

17129921

23270404

2327

30993846

-13301720

17694453

7885220 789 -10722277 -10721488

1750000

175

13474825

13475000

645917

6324935

6325000

40514 4 15260 15264

698705

-6884409

33592055

3360

40785294

-20186129

20602525

17057085

1705

1528642

-1570454

-40107

81030 8 29992 30000

135050

49986

50000

2442701

-2637956

17273165

1727

4051321

-4208410

-155362

17273165

1727

4051321

-4208410

-155362

-6884409

-2637956

117347

19232

30000

1427729

60823

406980

2442701

820876

51100

27500

-500

783637

108890

358630

53413

-8850

-2290

-4549929

-55470

13037

158028

-171065

858292

6325000

15264

858292

4790

58250

6340264

53460

1619270

-2010

1685013

2010

3304283

50075

291725

50000

30000 13475000

NOTE A — NATURE OF OPERATIONS AND GOING CONCERN Nature of Operations Brand Engagement Network Inc. (formerly Blockchain Exchange Network Inc.) (together with its subsidiaries, “BEN” or “the Company”) was formed in Jackson, Wyoming on April 17, 2018, and was named in honor of the renowned Founding Father and inventor, Benjamin Franklin. In 2019, the Company became a wholly owned subsidiary of Datum Point Labs (“DPL”), and then was spun out of DPL in May 2021. BEN acquired DPL in December 2021. The Company is an innovative AI platform provider, designed to interface with emerging technologies, including blockchain, internet of things, and cloud computing, that drives digital transformation across various industries and provides businesses with unparalleled competitive edge. BEN offers a suite of configured and customizable applications, including natural language processing, anomaly detection, encryption, recommendation engines, sentiment analysis, image recognition, personalization, and real-time decision-making. These applications help companies improve customer experiences, optimize cost drivers, mitigate risks, and enhance operational efficiency. Business Combination with DHC On March 14, 2024 (the “Closing Date”), the Company consummated its previously announced business combination (the “Closing”) pursuant to the Business Combination Agreement, dated September 7, 2023 (as amended, the “Business Combination Agreement”), by and among DHC Acquisition Corp., a Cayman Islands exempted company (“DHC”), Brand Engagement Network Inc., a Wyoming corporation (“Prior BEN”), BEN Merger Subsidiary Corp., a Delaware corporation and a direct, wholly owned subsidiary of DHC (“Merger Sub”) and DHC Sponsor, LLC, a Delaware limited liability company (the “Sponsor”). The transactions contemplated by the Business Combination Agreement, including the Domestication and the Merger (each as defined below) are collectively referred to herein as the “Business Combination.” Prior to the Closing, as contemplated by the Business Combination Agreement, DHC became a Delaware corporation named “Brand Engagement Network Inc.” (the “Domestication”), and (i) each issued and outstanding Class A ordinary share, par value $<span id="xdx_902_eus-gaap--CommonStockParOrStatedValuePerShare_iI_pid_c20240314__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__dei--LegalEntityAxis__custom--DHCMember_zoBNbChFagB1" title="Common stock par value">0.0001 per share, of DHC (the “Class A Shares”) was automatically converted, on a one-for-one basis, into a share of common stock, par value $<span id="xdx_904_eus-gaap--CommonStockParOrStatedValuePerShare_iI_pid_c20240314__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--BENMember_zB42t1ryX7Ye" title="Common stock par value">0.0001 per share (“Common Stock”), of BEN, (ii) each issued and outstanding Class B ordinary share, par value $<span id="xdx_902_eus-gaap--CommonStockParOrStatedValuePerShare_iI_pid_c20240314__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__dei--LegalEntityAxis__custom--DHCMember_zReXvEXfrOb8" title="Common stock par value">0.0001 per share, of DHC was automatically converted, on a one-for-one basis, into a share of Common Stock of BEN, (iii) each then-issued and outstanding public warrant of DHC, each representing a right to acquire one Class A Share for $<span id="xdx_900_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_uUSDPShares_c20240314__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantMember_zsBijjTu7jEf" title="Exercise price">11.50 was automatically converted, on a one-for-one basis, into a public warrant of BEN (a “Public Warrant”), which represents a right to acquire one share of Common Stock for $<span id="xdx_900_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_uUSDPShares_c20240314__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantMember_zxdpiOADraAl" title="Exercise price">11.50, pursuant to Section 4.5 of the Warrant Agreement, dated March 4, 2021, by and between DHC and Continental Stock Transfer and Trust Company (the “Warrant Agreement”), (iv) each then-issued and outstanding private placement warrant, each representing a right to acquire one Class A Share for $<span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_uUSDPShares_c20240314__us-gaap--ClassOfWarrantOrRightAxis__custom--PrivatePlacementWarrantMember_zKfg2febS0Pc" title="Exercise price">11.50 (a “Private Placement Warrant”), was automatically converted, on a one-for-one basis, into a private placement warrant of BEN, which represents a right to acquire one share of BEN Common Stock for $<span id="xdx_906_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_uUSDPShares_c20240314__us-gaap--ClassOfWarrantOrRightAxis__custom--PrivatePlacementWarrantMember_zxhSfzvXpEZj" title="Exercise price">11.50, pursuant to Section 4.5 of the Warrant Agreement, (v) each then-issued and outstanding unit of DHC, each representing a Class A Share and one-third of a DHC Public Warrant (a “Unit”), that had not been previously separated into the underlying Class A Share and one-third of one DHC Public Warrant upon the request of the holder thereof, were separated and automatically converted into one share of BEN Common Stock and one-third of one Public Warrant. Following the Domestication, on March 14, 2024, pursuant to the Business Combination Agreement, Merger Sub merged with and into Prior BEN (the “Merger”), with Prior BEN surviving the Merger as a direct, wholly owned subsidiary of BEN. In connection with the Merger, all outstanding shares of Prior BEN’s common stock were exchanged for shares of Common Stock of BEN at an exchange ratio of 0.2701 (the “Exchange Ratio”) shares of BEN Common Stock per one share of Prior BEN common stock, (ii) each then-issued and outstanding compensatory warrant of Prior BEN, each representing a right to acquire one share of Prior BEN common stock, were assumed by BEN and adjusted pursuant to the Exchange Ratio and in accordance with the terms of their agreements, into new compensatory warrants of BEN (the “Compensatory Warrants”), and (iii) each then issued and outstanding option to purchase shares of Prior BEN common stock, each representing a right to acquire one share of Prior BEN common stock, were assumed by BEN and adjusted pursuant to the Exchange Ratio and in accordance with the terms of their agreements, into options to purchase BEN Common Stock. Except as otherwise indicated, references herein to “BEN,” the “Company,” or the “Combined Company,” refer to Brand Engagement Network Inc. Inc. on a post-Merger basis, and references to “Prior BEN” refer to the business of privately-held Brand Engagement Network Inc. prior to the completion of the Merger. References to “DHC” refer to DHC Acquisition Corp. prior to the completion of the Merger. In connection with the Business Combination, the Company assumed 10,314,952 Public Warrants and 6,126,010 Private Placement Warrants. Exchange Ratio As noted in Note C, the Business Combination was accounted for as a reverse recapitalization under which the historical financial statements of the Company prior to the Merger are Prior BEN. All common stock, per share and related information presented in the unaudited condensed consolidated financial statements and notes prior to the Merger have been retroactively adjusted to reflect the Exchange Ratio. Liquidity and Going Concern The accompanying unaudited condensed consolidated financial statements have been prepared as though the Company will continue as a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. As of March 31, 2024, the Company has an accumulated deficit of $20.2 million, a net loss of $6.9 million and net cash used in operating activities of $4.5 million during the three months ended March 31, 2024. Management expects to continue to incur operating losses and negative cash flows from operations for at least the next 12 months. The Company has financed its operations to date from proceeds from the sale of Common Stock, exercises of warrants, the issuance of promissory notes and convertible debt, and its transactions with AFG Companies Inc. (“AFG”). The Company’s current liquidity position raises substantial doubt about the Company’s ability to continue as a going concern. The Company believes that its existing cash and cash equivalents will be insufficient to meet its anticipated cash requirements for at least the next 12 months from the date the unaudited condensed consolidated financial statements are issued. The assumptions upon which the Company has based its estimates are routinely evaluated and may be subject to change. The actual amount of the Company’s expenditures will vary depending upon several factors including but not limited to the design, timing, and the progress of the Company’s research and development programs, and the level of financial resources available. The Company can adjust its operating plan spending based on available financial resources. The Company will need to raise additional capital to continue to fund operations and product research and development. The Company believes that it will be able to obtain additional working capital through equity financings, additional debt, or other arrangements to fund future operations. The unaudited condensed consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

0.0001

11.50

0.2701

10314952

6126010

-20200000

-6900000

-4500000

NOTE B — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Consolidation The unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The Company’s unaudited condensed consolidated financial statements include the accounts of the Company and the accounts of the Company’s wholly owned subsidiary. All significant intercompany balances and transactions have been eliminated in consolidation. The accompanying unaudited condensed consolidated financial statements and related notes have been prepared in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) for unaudited condensed consolidated financial information. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete consolidated financial statements. Certain information and footnote disclosure normally included in financial statements prepared in accordance with U.S. GAAP have been omitted pursuant to instructions, rules, and regulations prescribed by the SEC. Unaudited interim results These unaudited condensed consolidated financial statements and accompanying notes should be read in conjunction with the Company’s annual audited financial statements and the notes thereto as of and for the year ended December 31, 2023 filed as Exhibit 99.1 to the Company’s Current Report on Form 8-K/A filed with the SEC on March 20, 2024. The accompanying unaudited condensed consolidated financial statements as of March 31, 2024 and for the three months ended March 31, 2024 and 2023 are unaudited but have been prepared on the same basis as the annual audited financial statements and include all normal, recurring adjustments that management believes to be necessary for a fair presentation of the periods presented. Interim results are not necessarily indicative of results for a full year. Balance sheet amounts as of December 31, 2023 have been derived from the audited financial statements filed as Exhibit 99.1 to the Company’s Current Report on Form 8-K/A filed with the SEC on March 20, 2024. Use of Estimates The preparation of the accompanying unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions about future events. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities, and reported amounts of revenue and expenses. Actual results and outcomes could differ significantly from the Company’s estimates, judgments, and assumptions. Significant estimates in the Company’s consolidated financial statements include, but are not limited to, assumptions used to measure stock-based compensation and valuation of the intangible assets acquired from DM Lab (see Note D). These estimates and assumptions are based on management’s best estimates and judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, which management believes to be reasonable under the circumstances. The Company adjusts such estimates and assumptions when facts and circumstances dictate. Changes in those estimates resulting from continuing changes in the economic environment will be reflected in the financial statements in future periods. As future events and their effects cannot be determined with precision, actual results could materially differ from those estimates and assumptions. Segment and geographic information Operating segments are defined as components of an entity about which separate discrete financial information is available for evaluation by the chief operating decision maker (“CODM”), or decision-making group, in deciding how to allocate resources and in assessing performance. The CODM for the Company is the Chief Executive Officer. The Company views its operations as, and manages its business in, one operating segment. The Company has an office in the Republic of Korea dedicated to research and development activities. The carrying value of assets held in the Republic of Korea was $1,257,960 as of March 31, 2024. Significant Risks and Uncertainties There can be no assurance that the Company’s research and development will be successfully commercialized. Developing and commercializing a goods and services require significant time and capital and is subject to regulatory review and approval as well as competition from other AI technology companies. The Company operates in an environment of rapid change and is dependent upon the continued services of its employees and consultants and obtaining and protecting intellectual property. Revenue Recognition and Accounts Receivable The Company accounts for revenue in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC 606”) for all periods presented. The core principle of ASC 606 is to recognize revenue for the transfer of promised goods or services to customers in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. This principle is achieved by applying the following five-step approach: 1)Identification of the Contract, or Contracts, with a Customer. 2)Identification of the Performance Obligations in the Contract. 3)Determination of the Transaction Price. 4)Allocation of the Transaction Price to the Performance Obligations in the Contract. 5)Recognition of Revenue when, or as, Performance Obligations are Satisfied. Trade receivables represent amounts due from customers and are stated net of the allowance for doubtful accounts. The allowance for doubtful accounts is based on management’s assessment of the collectability of specific customer accounts, the aging of the accounts receivable, historical experience, and other currently available evidence. If there is a deterioration of a major customer’s credit worthiness or actual defaults are higher than the historical experience, management’s estimates of the recoverability of amounts due the Company could be adversely affected. Trade receivables of the Company as of March 31, 2024 and December 31, 2023 are net of an allowance for expected credit losses amounting to $50,000 and $20,000, respectively. Impairment of Definite Lived Intangible Assets The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If the carrying amount of the asset exceeds its estimated undiscounted net cash flows, before interest, the Company will recognize an impairment loss equal to the difference between its carrying amount and its estimated fair value. If impairment is recognized, the reduced carrying amount of the asset will be accounted for as its new cost. Generally, fair values are estimated using discounted cash flow, replacement cost or market comparison analyses. The process of evaluating for impairment requires estimates as to future events and conditions, which are subject to varying market and economic factors. Therefore, it is reasonably possible that a change in estimate resulting from judgments as to future events could occur which would affect the recorded amounts of the asset. No impairment losses were recorded for the three months ended March 31, 2024 or 2023. In-Process Research and Development The fair value of in-process research and development (“IPR&D”) acquired in an asset acquisition, that has been determined to have alternative future uses in accordance with ASC Topic 350, Intangibles—Goodwill and Other (“ASC 350”), is capitalized as an indefinite-lived intangible asset until the completion of the related research and development activities in accordance with ASC 350 or the determination that impairment is necessary. If the related research and development is completed, the asset is reclassified as a definite-lived asset at the time of completion and is amortized over its estimated useful life as research and development costs in accordance with ASC 730-10-25-2(c) and ASC 350. Indefinite-lived IPR&D is not subject to amortization but is tested annually for impairment or more frequently if there are indicators of impairment. The Company also evaluates the remaining useful life of an intangible asset that is not being amortized each reporting period to determine whether events and circumstances continue to support an indefinite useful life. If an intangible asset that is not being amortized is subsequently determined to have a finite useful life, the asset shall be tested for impairment in accordance with paragraphs 350-30-35-18 through 35-19. That intangible asset shall then be amortized prospectively over its estimated remaining useful life and accounted for in the same manner as other intangible assets that are subject to amortization. The Company tests its indefinite-lived IPR&D annually for impairment during the fourth quarter. In testing indefinite-lived IPR&D for impairment, the Company has the option to first assess qualitative factors to determine whether the existence of events or circumstances would indicate that it is more likely than not that its fair value is less than its carrying amount, or the Company can perform a quantitative impairment analysis to determine the fair value of the indefinite-lived IPR&D without performing a qualitative assessment. Qualitative factors that the Company considers include significant negative industry or economic trends and significant changes or planned changes in the use of the assets. If the Company chooses to first assess qualitative factors and the Company determines that it is more likely than not that the fair value of the indefinite-lived IPR&D is less than its carrying amount, the Company would then determine the fair value of the indefinite-lived IPR&D. Under either approach, if the fair value of the indefinite-lived IPR&D is less than its carrying amount, an impairment charge is recognized in the consolidated statements of operations. During the three months ended March 31, 2024, the Company did not recognize an impairment charge related to its indefinite-lived IPR&D. Research and Development Costs Costs incurred in connection with research and development activities are expensed as incurred. These costs include rent for facilities, hardware and software equipment costs, employee related costs, consulting fees for technical expertise, prototyping, and testing. Stock Compensation The Company recognizes stock-based compensation for stock-based awards (including stock options, restricted stock units, and restricted stock awards) in accordance with ASC Topic 718, Compensation — Stock Compensation. Determining the appropriate fair value of stock-based awards requires numerous assumptions, some of which are highly complex and subjective. Stock-based awards generally vest subject to the satisfaction of service requirements, or the satisfaction of both service requirements and achievement of certain performance conditions or market and service conditions. For stock-based awards that vest subject to the satisfaction of service requirements or market and service conditions, stock-based compensation is measured based on the fair value of the award on the date of grant and is recognized as stock-based compensation on a straight-line basis over the requisite service period. For stock-based awards that have a performance component, stock-based compensation is measured based on the fair value on the grant date and is recognized over the requisite service period as achievement of the performance objective becomes probable. The Company estimates the fair value of its stock option and warrant awards on the grant date using the Black-Scholes option-pricing model. The Black-Scholes option-pricing model requires the use of judgments and assumptions, including fair value of its Common Stock, the option’s expected term, the expected price volatility of the underlying stock, risk free interest rates and the expected dividend yield. The fair value of the Company’s restricted stock awards is estimated on the date of grant based on the fair value of the Company’s Common Stock. The Black-Scholes model assumptions are further described below: <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: 0.5in"> </td> <td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">Common stock — the fair value of the Company’s Common Stock.</td> </tr><tr style="vertical-align: top; text-align: justify"> <td> </td> <td style="text-align: left"> </td><td style="text-align: justify"> </td></tr> <tr style="vertical-align: top; text-align: justify"> <td> </td> <td style="text-align: left">●</td><td style="text-align: justify">Expected Term — The expected term of employee options with service-based vesting is determined using the “simplified” method, as prescribed in the U.S. Securities and Exchange Commission’s Staff Accounting Bulletin No. 107, whereby the expected life equals the arithmetic average of the vesting term and the original contractual term of the option due to the Company’s lack of sufficient historical data. The expected term of nonemployee options is equal to the contractual term.</td></tr> <tr style="vertical-align: top; text-align: justify"> <td> </td> <td style="text-align: left"> </td><td style="text-align: justify"> </td></tr> <tr style="vertical-align: top; text-align: justify"> <td> </td> <td style="text-align: left">●</td><td style="text-align: justify">Expected Volatility — The Company lacks its own historical stock data. Therefore, it estimates its expected stock volatility based primarily on the historical volatility of a publicly traded set of peer companies.</td></tr> <tr style="vertical-align: top; text-align: justify"> <td> </td> <td style="text-align: left"> </td><td style="text-align: justify"> </td></tr> <tr style="vertical-align: top; text-align: justify"> <td> </td> <td style="text-align: left">●</td><td style="text-align: justify">Risk-Free Interest Rate — The Company bases the risk-free interest rate on daily constant maturity treasury auction yields received as a proxy for the implied yield from strips.</td></tr> <tr style="vertical-align: top; text-align: justify"> <td> </td> <td style="text-align: left"> </td><td style="text-align: justify"> </td></tr> <tr style="vertical-align: top; text-align: justify"> <td> </td> <td style="text-align: left">●</td><td style="text-align: justify">Expected Dividend —The Company has never declared or paid any cash dividends on its common shares and does not plan to pay cash dividends in the foreseeable future, and, therefore, uses an expected dividend yield of zero in its valuation models.</td></tr> </table> Cash and Cash Equivalents The Company considers all highly-liquid investments, readily convertible to cash, and which have a remaining maturity date of three months or less at the date of purchase, to be cash equivalents. Cash and cash equivalents are recorded at fair value and are held for the purpose of meeting short-term liquidity requirements, rather than for investment purposes. The Company maintains its cash and cash equivalent balances in the form of business checking accounts and money market accounts, the balances of which, at times, may exceed federally insured limits. Capitalized Internal-Use Software Costs Pursuant to ASC 350-40, Internal-Use Software, the Company capitalizes development costs for internal use software projects once the preliminary project stage is completed, management commits to funding the project, and it is probable that the project will be completed, and the software will be used to perform the function intended. The Company ceases capitalization at such time as the computer software project is substantially complete and ready for its intended use. The determination that a software project is eligible for capitalization and the ongoing assessment of recoverability of capitalized software development costs requires considerable judgment by management with respect to certain external factors, including, but not limited to, estimated economic life and changes in software and hardware technologies. The Company capitalizes costs for internal-use software once project approval, funding, and feasibility are confirmed. These costs primarily consist of external consulting fees and direct labor costs. As of March 31, 2024, the cost of the Company’s capitalized internal-use software was $1,015,176, which is included within property and equipment, net of depreciation in the accompanying unaudited condensed consolidated balance sheet. No amortization expense has been incurred to date, as the internal-use software is not yet ready for its intended use. No impairment losses were recorded for the three months ended March 31, 2024. Leases The Company’s accounting policy provides that leases with an initial term of 12 months or less will not be recognized as right-of-use assets and lease liabilities on its unaudited condensed consolidated balance sheet. Lease payments associated with short-term leases are recognized as an expense on a straight-line basis over the lease term. Foreign Currency Transactions Foreign currency transaction gains and losses are a result of the effect of exchange rate changes on transactions denominated in currencies other than the functional currency. Gains and losses arising from foreign currency transactions and the effects of remeasurements are captured within the net loss within statement of operations. Foreign currency transaction gains and losses were not material for the three months ended March 31, 2024, and 2023. Warrant Liabilities The Company evaluates all of its financial instruments, including issued share purchase warrants, to determine if such instruments are derivatives or contain features that qualify as embedded derivatives, pursuant to ASC Topic 480, Distinguishing Liabilities from Equity, ASC Topic 505, Equity, and ASC Topic 815, Derivatives and Hedging (“ASC 815”). The Company accounts for the Public Warrants and Private Placement Warrants in accordance with the guidance contained in ASC 815 under which the warrants do not meet the criteria for equity treatment and must be recorded as liabilities. Accordingly, the Company classifies the Public Warrants and Private Placement Warrants as liabilities at their fair value and adjust the Public Warrants and Private Placement Warrants to fair value at each reporting period. This liability is subject to re-measurement at each balance sheet date until exercised, and any change in fair value is recognized in the Company’s unaudited condensed consolidated statements of operations. Fair Value of Financial Instruments The Company accounts for financial instruments under ASC 820, Fair Value Measurements (“ASC 820”). This statement defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements, ASC 820 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three levels as follows: Level 1 — quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 — observable inputs other than Level 1, quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, and model-derived prices whose inputs are observable or whose significant value drivers are observable; and Level 3 — assets and liabilities whose significant value drivers are unobservable. The following fair value hierarchy table presents information about the Company’s assets and liabilities measured at fair value on a recurring basis: SCHEDULE OF FAIR VALUE HIERARCHY <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="font-weight: bold; padding-bottom: 1.5pt">March 31, 2024</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_49C_20240331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zi1PbunbufE6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">(Level 1)</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_499_20240331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zGZNz2yArOzj" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">(Level 2)</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_497_20240331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zbzemfGJiAie" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">(Level 3)</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Fair value measurement at reporting date using</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; padding-bottom: 1.5pt">March 31, 2024</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">(Level 1)</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">(Level 2)</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">(Level 3)</td><td style="padding-bottom: 1.5pt; font-weight: bold; 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: 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_40C_eus-gaap--WarrantsAndRightsOutstanding_iI_hus-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantMember_ztqBJ5nr0Zvi" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 52%; text-align: left">Warrant liabilities - Public Warrants</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">$</td><td style="width: 12%; text-align: right">1,238,826</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--WarrantsAndRightsOutstanding_iI_hus-gaap--ClassOfWarrantOrRightAxis__custom--PrivatePlacementWarrantMember_zG8Os5Xlt454" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Warrant liabilities - Private Placement Warrants</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">735,734</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> </table> The Public Warrants and Private Placement Warrants assumed in connection with the Business Combination were accounted for as liabilities in accordance with ASC 815 and are presented within warrant liabilities on the accompanying unaudited condensed consolidated balance sheets. The warrant liabilities are initially measured at fair value at the day of the Business Combination and on a recurring basis, with changes in fair value presented within change in fair value of warrant liabilities in the unaudited condensed consolidated statements of operations. The fair value of the Public Warrants and Private Placement Warrants is estimated based on the closing price of the Public Warrants, an observable market quote but is classified as a Level 2 fair value measurement due to the lack of an active market. Net Loss per Share Basic loss per share is computed by dividing the net loss available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted loss per share reflects the potential dilution, using the treasury stock method that could occur if securities or other contracts to issue Common Stock were exercised or converted into Common Stock or resulted in the issuance of Common Stock that then shared in the loss of the Company. In computing diluted loss per share, the treasury stock method assumes that outstanding instruments are exercised/converted, and the proceeds are used to purchase Common Stock at the average market price during the period. Instruments may have a dilutive effect under the treasury stock method only when the average market price of the Common Stock during the period exceeds the exercise price/conversion rate of the instruments. The Company accounts for stock issued in spin-out transactions and consummations of mergers of entities under common control retrospectively. For diluted net loss per share, the weighted-average number of shares of Common Stock is the same for basic net loss per share due to the fact that when a net loss exists, potentially dilutive securities are not included in the calculation when the impact is anti-dilutive. <p id="xdx_897_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_z3rSJR6VgrQc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The following potentially dilutive securities are excluded from the calculation of weighted average common shares outstanding because their inclusion would have been anti-dilutive: SCHEDULE OF POTENTIALLY DILUTIVE SECURITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49F_20240101__20240331_zeGAeGypiqN5" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_494_20230101__20230331_z23LwwZ0R4od" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">March 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_40F_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zDZQCXgWBIFi" 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">2,538,940</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">1,620,600</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zVzGXjGgTWI" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Warrants</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,749,370</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">283,605</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_zJeMU37vg4zf" 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">7,288,310</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">1,904,205</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Recently Issued but Not Yet Adopted Accounting Standards In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires disclosure of incremental segment information on an annual and interim basis. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024 on a retrospective basis. The Company is currently evaluating the effect of this pronouncement on its disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which expands the disclosures required for income taxes. This ASU is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The amendment should be applied on a prospective basis while retrospective application is permitted. The Company is currently evaluating the effect of this pronouncement on its disclosures.

Basis of Presentation and Consolidation The unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The Company’s unaudited condensed consolidated financial statements include the accounts of the Company and the accounts of the Company’s wholly owned subsidiary. All significant intercompany balances and transactions have been eliminated in consolidation. The accompanying unaudited condensed consolidated financial statements and related notes have been prepared in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) for unaudited condensed consolidated financial information. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete consolidated financial statements. Certain information and footnote disclosure normally included in financial statements prepared in accordance with U.S. GAAP have been omitted pursuant to instructions, rules, and regulations prescribed by the SEC.

Unaudited interim results These unaudited condensed consolidated financial statements and accompanying notes should be read in conjunction with the Company’s annual audited financial statements and the notes thereto as of and for the year ended December 31, 2023 filed as Exhibit 99.1 to the Company’s Current Report on Form 8-K/A filed with the SEC on March 20, 2024. The accompanying unaudited condensed consolidated financial statements as of March 31, 2024 and for the three months ended March 31, 2024 and 2023 are unaudited but have been prepared on the same basis as the annual audited financial statements and include all normal, recurring adjustments that management believes to be necessary for a fair presentation of the periods presented. Interim results are not necessarily indicative of results for a full year. Balance sheet amounts as of December 31, 2023 have been derived from the audited financial statements filed as Exhibit 99.1 to the Company’s Current Report on Form 8-K/A filed with the SEC on March 20, 2024.

Use of Estimates The preparation of the accompanying unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions about future events. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities, and reported amounts of revenue and expenses. Actual results and outcomes could differ significantly from the Company’s estimates, judgments, and assumptions. Significant estimates in the Company’s consolidated financial statements include, but are not limited to, assumptions used to measure stock-based compensation and valuation of the intangible assets acquired from DM Lab (see Note D). These estimates and assumptions are based on management’s best estimates and judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, which management believes to be reasonable under the circumstances. The Company adjusts such estimates and assumptions when facts and circumstances dictate. Changes in those estimates resulting from continuing changes in the economic environment will be reflected in the financial statements in future periods. As future events and their effects cannot be determined with precision, actual results could materially differ from those estimates and assumptions.

Segment and geographic information Operating segments are defined as components of an entity about which separate discrete financial information is available for evaluation by the chief operating decision maker (“CODM”), or decision-making group, in deciding how to allocate resources and in assessing performance. The CODM for the Company is the Chief Executive Officer. The Company views its operations as, and manages its business in, one operating segment. The Company has an office in the Republic of Korea dedicated to research and development activities. The carrying value of assets held in the Republic of Korea was $1,257,960 as of March 31, 2024.

1257960

Significant Risks and Uncertainties There can be no assurance that the Company’s research and development will be successfully commercialized. Developing and commercializing a goods and services require significant time and capital and is subject to regulatory review and approval as well as competition from other AI technology companies. The Company operates in an environment of rapid change and is dependent upon the continued services of its employees and consultants and obtaining and protecting intellectual property.

Revenue Recognition and Accounts Receivable The Company accounts for revenue in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC 606”) for all periods presented. The core principle of ASC 606 is to recognize revenue for the transfer of promised goods or services to customers in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. This principle is achieved by applying the following five-step approach: 1)Identification of the Contract, or Contracts, with a Customer. 2)Identification of the Performance Obligations in the Contract. 3)Determination of the Transaction Price. 4)Allocation of the Transaction Price to the Performance Obligations in the Contract. 5)Recognition of Revenue when, or as, Performance Obligations are Satisfied. Trade receivables represent amounts due from customers and are stated net of the allowance for doubtful accounts. The allowance for doubtful accounts is based on management’s assessment of the collectability of specific customer accounts, the aging of the accounts receivable, historical experience, and other currently available evidence. If there is a deterioration of a major customer’s credit worthiness or actual defaults are higher than the historical experience, management’s estimates of the recoverability of amounts due the Company could be adversely affected. Trade receivables of the Company as of March 31, 2024 and December 31, 2023 are net of an allowance for expected credit losses amounting to $50,000 and $20,000, respectively.

50000

20000

Impairment of Definite Lived Intangible Assets The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If the carrying amount of the asset exceeds its estimated undiscounted net cash flows, before interest, the Company will recognize an impairment loss equal to the difference between its carrying amount and its estimated fair value. If impairment is recognized, the reduced carrying amount of the asset will be accounted for as its new cost. Generally, fair values are estimated using discounted cash flow, replacement cost or market comparison analyses. The process of evaluating for impairment requires estimates as to future events and conditions, which are subject to varying market and economic factors. Therefore, it is reasonably possible that a change in estimate resulting from judgments as to future events could occur which would affect the recorded amounts of the asset. No impairment losses were recorded for the three months ended March 31, 2024 or 2023.

In-Process Research and Development The fair value of in-process research and development (“IPR&D”) acquired in an asset acquisition, that has been determined to have alternative future uses in accordance with ASC Topic 350, Intangibles—Goodwill and Other (“ASC 350”), is capitalized as an indefinite-lived intangible asset until the completion of the related research and development activities in accordance with ASC 350 or the determination that impairment is necessary. If the related research and development is completed, the asset is reclassified as a definite-lived asset at the time of completion and is amortized over its estimated useful life as research and development costs in accordance with ASC 730-10-25-2(c) and ASC 350. Indefinite-lived IPR&D is not subject to amortization but is tested annually for impairment or more frequently if there are indicators of impairment. The Company also evaluates the remaining useful life of an intangible asset that is not being amortized each reporting period to determine whether events and circumstances continue to support an indefinite useful life. If an intangible asset that is not being amortized is subsequently determined to have a finite useful life, the asset shall be tested for impairment in accordance with paragraphs 350-30-35-18 through 35-19. That intangible asset shall then be amortized prospectively over its estimated remaining useful life and accounted for in the same manner as other intangible assets that are subject to amortization. The Company tests its indefinite-lived IPR&D annually for impairment during the fourth quarter. In testing indefinite-lived IPR&D for impairment, the Company has the option to first assess qualitative factors to determine whether the existence of events or circumstances would indicate that it is more likely than not that its fair value is less than its carrying amount, or the Company can perform a quantitative impairment analysis to determine the fair value of the indefinite-lived IPR&D without performing a qualitative assessment. Qualitative factors that the Company considers include significant negative industry or economic trends and significant changes or planned changes in the use of the assets. If the Company chooses to first assess qualitative factors and the Company determines that it is more likely than not that the fair value of the indefinite-lived IPR&D is less than its carrying amount, the Company would then determine the fair value of the indefinite-lived IPR&D. Under either approach, if the fair value of the indefinite-lived IPR&D is less than its carrying amount, an impairment charge is recognized in the consolidated statements of operations. During the three months ended March 31, 2024, the Company did not recognize an impairment charge related to its indefinite-lived IPR&D.

Research and Development Costs Costs incurred in connection with research and development activities are expensed as incurred. These costs include rent for facilities, hardware and software equipment costs, employee related costs, consulting fees for technical expertise, prototyping, and testing.

Stock Compensation The Company recognizes stock-based compensation for stock-based awards (including stock options, restricted stock units, and restricted stock awards) in accordance with ASC Topic 718, Compensation — Stock Compensation. Determining the appropriate fair value of stock-based awards requires numerous assumptions, some of which are highly complex and subjective. Stock-based awards generally vest subject to the satisfaction of service requirements, or the satisfaction of both service requirements and achievement of certain performance conditions or market and service conditions. For stock-based awards that vest subject to the satisfaction of service requirements or market and service conditions, stock-based compensation is measured based on the fair value of the award on the date of grant and is recognized as stock-based compensation on a straight-line basis over the requisite service period. For stock-based awards that have a performance component, stock-based compensation is measured based on the fair value on the grant date and is recognized over the requisite service period as achievement of the performance objective becomes probable. The Company estimates the fair value of its stock option and warrant awards on the grant date using the Black-Scholes option-pricing model. The Black-Scholes option-pricing model requires the use of judgments and assumptions, including fair value of its Common Stock, the option’s expected term, the expected price volatility of the underlying stock, risk free interest rates and the expected dividend yield. The fair value of the Company’s restricted stock awards is estimated on the date of grant based on the fair value of the Company’s Common Stock. The Black-Scholes model assumptions are further described below: <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: 0.5in"> </td> <td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">Common stock — the fair value of the Company’s Common Stock.</td> </tr><tr style="vertical-align: top; text-align: justify"> <td> </td> <td style="text-align: left"> </td><td style="text-align: justify"> </td></tr> <tr style="vertical-align: top; text-align: justify"> <td> </td> <td style="text-align: left">●</td><td style="text-align: justify">Expected Term — The expected term of employee options with service-based vesting is determined using the “simplified” method, as prescribed in the U.S. Securities and Exchange Commission’s Staff Accounting Bulletin No. 107, whereby the expected life equals the arithmetic average of the vesting term and the original contractual term of the option due to the Company’s lack of sufficient historical data. The expected term of nonemployee options is equal to the contractual term.</td></tr> <tr style="vertical-align: top; text-align: justify"> <td> </td> <td style="text-align: left"> </td><td style="text-align: justify"> </td></tr> <tr style="vertical-align: top; text-align: justify"> <td> </td> <td style="text-align: left">●</td><td style="text-align: justify">Expected Volatility — The Company lacks its own historical stock data. Therefore, it estimates its expected stock volatility based primarily on the historical volatility of a publicly traded set of peer companies.</td></tr> <tr style="vertical-align: top; text-align: justify"> <td> </td> <td style="text-align: left"> </td><td style="text-align: justify"> </td></tr> <tr style="vertical-align: top; text-align: justify"> <td> </td> <td style="text-align: left">●</td><td style="text-align: justify">Risk-Free Interest Rate — The Company bases the risk-free interest rate on daily constant maturity treasury auction yields received as a proxy for the implied yield from strips.</td></tr> <tr style="vertical-align: top; text-align: justify"> <td> </td> <td style="text-align: left"> </td><td style="text-align: justify"> </td></tr> <tr style="vertical-align: top; text-align: justify"> <td> </td> <td style="text-align: left">●</td><td style="text-align: justify">Expected Dividend —The Company has never declared or paid any cash dividends on its common shares and does not plan to pay cash dividends in the foreseeable future, and, therefore, uses an expected dividend yield of zero in its valuation models.</td></tr> </table>

Cash and Cash Equivalents The Company considers all highly-liquid investments, readily convertible to cash, and which have a remaining maturity date of three months or less at the date of purchase, to be cash equivalents. Cash and cash equivalents are recorded at fair value and are held for the purpose of meeting short-term liquidity requirements, rather than for investment purposes. The Company maintains its cash and cash equivalent balances in the form of business checking accounts and money market accounts, the balances of which, at times, may exceed federally insured limits.

Capitalized Internal-Use Software Costs Pursuant to ASC 350-40, Internal-Use Software, the Company capitalizes development costs for internal use software projects once the preliminary project stage is completed, management commits to funding the project, and it is probable that the project will be completed, and the software will be used to perform the function intended. The Company ceases capitalization at such time as the computer software project is substantially complete and ready for its intended use. The determination that a software project is eligible for capitalization and the ongoing assessment of recoverability of capitalized software development costs requires considerable judgment by management with respect to certain external factors, including, but not limited to, estimated economic life and changes in software and hardware technologies. The Company capitalizes costs for internal-use software once project approval, funding, and feasibility are confirmed. These costs primarily consist of external consulting fees and direct labor costs. As of March 31, 2024, the cost of the Company’s capitalized internal-use software was $1,015,176, which is included within property and equipment, net of depreciation in the accompanying unaudited condensed consolidated balance sheet. No amortization expense has been incurred to date, as the internal-use software is not yet ready for its intended use. No impairment losses were recorded for the three months ended March 31, 2024.

1015176

Leases The Company’s accounting policy provides that leases with an initial term of 12 months or less will not be recognized as right-of-use assets and lease liabilities on its unaudited condensed consolidated balance sheet. Lease payments associated with short-term leases are recognized as an expense on a straight-line basis over the lease term.

Foreign Currency Transactions Foreign currency transaction gains and losses are a result of the effect of exchange rate changes on transactions denominated in currencies other than the functional currency. Gains and losses arising from foreign currency transactions and the effects of remeasurements are captured within the net loss within statement of operations. Foreign currency transaction gains and losses were not material for the three months ended March 31, 2024, and 2023.

Warrant Liabilities The Company evaluates all of its financial instruments, including issued share purchase warrants, to determine if such instruments are derivatives or contain features that qualify as embedded derivatives, pursuant to ASC Topic 480, Distinguishing Liabilities from Equity, ASC Topic 505, Equity, and ASC Topic 815, Derivatives and Hedging (“ASC 815”). The Company accounts for the Public Warrants and Private Placement Warrants in accordance with the guidance contained in ASC 815 under which the warrants do not meet the criteria for equity treatment and must be recorded as liabilities. Accordingly, the Company classifies the Public Warrants and Private Placement Warrants as liabilities at their fair value and adjust the Public Warrants and Private Placement Warrants to fair value at each reporting period. This liability is subject to re-measurement at each balance sheet date until exercised, and any change in fair value is recognized in the Company’s unaudited condensed consolidated statements of operations.

Fair Value of Financial Instruments The Company accounts for financial instruments under ASC 820, Fair Value Measurements (“ASC 820”). This statement defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements, ASC 820 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three levels as follows: Level 1 — quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 — observable inputs other than Level 1, quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, and model-derived prices whose inputs are observable or whose significant value drivers are observable; and Level 3 — assets and liabilities whose significant value drivers are unobservable. The following fair value hierarchy table presents information about the Company’s assets and liabilities measured at fair value on a recurring basis: SCHEDULE OF FAIR VALUE HIERARCHY <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="font-weight: bold; padding-bottom: 1.5pt">March 31, 2024</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_49C_20240331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zi1PbunbufE6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">(Level 1)</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_499_20240331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zGZNz2yArOzj" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">(Level 2)</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_497_20240331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zbzemfGJiAie" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">(Level 3)</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Fair value measurement at reporting date using</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; padding-bottom: 1.5pt">March 31, 2024</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">(Level 1)</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">(Level 2)</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">(Level 3)</td><td style="padding-bottom: 1.5pt; font-weight: bold; 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: 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_40C_eus-gaap--WarrantsAndRightsOutstanding_iI_hus-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantMember_ztqBJ5nr0Zvi" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 52%; text-align: left">Warrant liabilities - Public Warrants</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">1,238,826</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--WarrantsAndRightsOutstanding_iI_hus-gaap--ClassOfWarrantOrRightAxis__custom--PrivatePlacementWarrantMember_zG8Os5Xlt454" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Warrant liabilities - Private Placement Warrants</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">735,734</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> </table> The Public Warrants and Private Placement Warrants assumed in connection with the Business Combination were accounted for as liabilities in accordance with ASC 815 and are presented within warrant liabilities on the accompanying unaudited condensed consolidated balance sheets. The warrant liabilities are initially measured at fair value at the day of the Business Combination and on a recurring basis, with changes in fair value presented within change in fair value of warrant liabilities in the unaudited condensed consolidated statements of operations. The fair value of the Public Warrants and Private Placement Warrants is estimated based on the closing price of the Public Warrants, an observable market quote but is classified as a Level 2 fair value measurement due to the lack of an active market.

The following fair value hierarchy table presents information about the Company’s assets and liabilities measured at fair value on a recurring basis: SCHEDULE OF FAIR VALUE HIERARCHY <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="font-weight: bold; padding-bottom: 1.5pt">March 31, 2024</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_49C_20240331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zi1PbunbufE6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">(Level 1)</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_499_20240331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zGZNz2yArOzj" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">(Level 2)</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_497_20240331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zbzemfGJiAie" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">(Level 3)</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Fair value measurement at reporting date using</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; padding-bottom: 1.5pt">March 31, 2024</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">(Level 1)</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">(Level 2)</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">(Level 3)</td><td style="padding-bottom: 1.5pt; font-weight: bold; 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: 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_40C_eus-gaap--WarrantsAndRightsOutstanding_iI_hus-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantMember_ztqBJ5nr0Zvi" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 52%; text-align: left">Warrant liabilities - Public Warrants</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">1,238,826</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--WarrantsAndRightsOutstanding_iI_hus-gaap--ClassOfWarrantOrRightAxis__custom--PrivatePlacementWarrantMember_zG8Os5Xlt454" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Warrant liabilities - Private Placement Warrants</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">735,734</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> </table>

1238826

735734

Net Loss per Share Basic loss per share is computed by dividing the net loss available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted loss per share reflects the potential dilution, using the treasury stock method that could occur if securities or other contracts to issue Common Stock were exercised or converted into Common Stock or resulted in the issuance of Common Stock that then shared in the loss of the Company. In computing diluted loss per share, the treasury stock method assumes that outstanding instruments are exercised/converted, and the proceeds are used to purchase Common Stock at the average market price during the period. Instruments may have a dilutive effect under the treasury stock method only when the average market price of the Common Stock during the period exceeds the exercise price/conversion rate of the instruments. The Company accounts for stock issued in spin-out transactions and consummations of mergers of entities under common control retrospectively. For diluted net loss per share, the weighted-average number of shares of Common Stock is the same for basic net loss per share due to the fact that when a net loss exists, potentially dilutive securities are not included in the calculation when the impact is anti-dilutive. <p id="xdx_897_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_z3rSJR6VgrQc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The following potentially dilutive securities are excluded from the calculation of weighted average common shares outstanding because their inclusion would have been anti-dilutive: SCHEDULE OF POTENTIALLY DILUTIVE SECURITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49F_20240101__20240331_zeGAeGypiqN5" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_494_20230101__20230331_z23LwwZ0R4od" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">March 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_40F_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zDZQCXgWBIFi" 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">2,538,940</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">1,620,600</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zVzGXjGgTWI" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Warrants</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,749,370</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">283,605</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_zJeMU37vg4zf" 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">7,288,310</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">1,904,205</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

<p id="xdx_897_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_z3rSJR6VgrQc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The following potentially dilutive securities are excluded from the calculation of weighted average common shares outstanding because their inclusion would have been anti-dilutive: SCHEDULE OF POTENTIALLY DILUTIVE SECURITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49F_20240101__20240331_zeGAeGypiqN5" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_494_20230101__20230331_z23LwwZ0R4od" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">March 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_40F_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zDZQCXgWBIFi" 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">2,538,940</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">1,620,600</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zVzGXjGgTWI" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Warrants</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,749,370</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">283,605</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_zJeMU37vg4zf" 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">7,288,310</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">1,904,205</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

2538940

1620600

4749370

283605

7288310

1904205

Recently Issued but Not Yet Adopted Accounting Standards In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires disclosure of incremental segment information on an annual and interim basis. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024 on a retrospective basis. The Company is currently evaluating the effect of this pronouncement on its disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which expands the disclosures required for income taxes. This ASU is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The amendment should be applied on a prospective basis while retrospective application is permitted. The Company is currently evaluating the effect of this pronouncement on its disclosures.

NOTE C — MERGER WITH DHC On March 14, 2024, Prior BEN completed the Merger with DHC as discussed in Note A. The Merger was accounted for as a reverse recapitalization under U.S. GAAP because the primary assets of DHC were cash and cash equivalents. For financial reporting purposes Prior BEN was determined to be the accounting acquirer based upon the terms of the Merger and other factors, including: (i) Prior BEN stockholders own approximately <span id="xdx_900_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_uPure_c20240314__srt--OwnershipAxis__custom--CombinedCompanyMember__dei--LegalEntityAxis__custom--PriorBENShareholdersMember_zNtiRIHPr2m5" title="Ownership percentage">76.0% of the Combined Company and (ii) Prior BEN management holds all key positions of management. Accordingly, the Merger was treated as the equivalent of Prior BEN issuing stock to assume the net liabilities of DHC. As a result of the Merger, the net liabilities of DHC were recorded at their historical cost in the unaudited condensed consolidated financial statements and the reported operating results prior to the Merger are those of Prior BEN. The following table summarizes the assets acquired and liabilities assumed as part of the reverse recapitalization: <p id="xdx_899_eus-gaap--ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_hus-gaap--BusinessAcquisitionAxis__custom--DHCMember_zetYgvot62Yh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"> SCHEDULE OF RECOGNIZED IDENTIFIED ASSETS ACQUIRED AND LIABILITIES ASSUMED <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: 1.5pt"> </td> <td colspan="2" id="xdx_49D_20240314__us-gaap--BusinessAcquisitionAxis__custom--DHCMember_z3rJ2Kpvdu22" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">March 14, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_400_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents_iI_z0FakUs3yM66" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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">858,292</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables_iI_zsRELBx586la" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Due from Sponsor</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets_iI_zQb0Xub09KU7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Prepaid and other current assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,824</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable_iNI_di_zWGhPRvNsSfd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accounts payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,352,328</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther_iNI_di_zJrsqLsjlgUh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,782,211</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesOther_iNI_di_z6Yl6GbynfJh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Due to related parties</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(693,036</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilitiesWarrantLiability_iNI_di_zpwn77RIQhH5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Warrant liability</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,913,737</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iI_zljnTaEfVpd5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Net liabilities assumed</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">(9,863,196</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> The Company incurred $<span id="xdx_90A_eus-gaap--BusinessAcquisitionCostOfAcquiredEntityTransactionCosts_iI_c20240331__us-gaap--BusinessAcquisitionAxis__custom--DHCMember__us-gaap--BalanceSheetLocationAxis__us-gaap--AdditionalPaidInCapitalMember_zbxquKgRCNwi" title="Business acquisition, transaction costs">2,933,798 in transaction costs which were charged directly to additional paid-in capital to the extent of cash received. Transaction costs in excess of cash acquired of $<span id="xdx_902_eus-gaap--BusinessAcquisitionCostOfAcquiredEntityTransactionCosts_iI_c20240331__us-gaap--BusinessAcquisitionAxis__custom--DHCMember__us-gaap--IncomeStatementLocationAxis__us-gaap--GeneralAndAdministrativeExpenseMember_ztFTPAOkJGx7" title="Business acquisition, transaction costs">3,184,361 were charged to general and administrative expenses during the three months ended March 31, 2024.

0.760

<p id="xdx_899_eus-gaap--ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_hus-gaap--BusinessAcquisitionAxis__custom--DHCMember_zetYgvot62Yh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"> SCHEDULE OF RECOGNIZED IDENTIFIED ASSETS ACQUIRED AND LIABILITIES ASSUMED <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: 1.5pt"> </td> <td colspan="2" id="xdx_49D_20240314__us-gaap--BusinessAcquisitionAxis__custom--DHCMember_z3rJ2Kpvdu22" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">March 14, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_400_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents_iI_z0FakUs3yM66" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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">858,292</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables_iI_zsRELBx586la" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Due from Sponsor</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets_iI_zQb0Xub09KU7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Prepaid and other current assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,824</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable_iNI_di_zWGhPRvNsSfd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accounts payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,352,328</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther_iNI_di_zJrsqLsjlgUh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,782,211</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesOther_iNI_di_z6Yl6GbynfJh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Due to related parties</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(693,036</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilitiesWarrantLiability_iNI_di_zpwn77RIQhH5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Warrant liability</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,913,737</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iI_zljnTaEfVpd5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Net liabilities assumed</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">(9,863,196</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table>

858292

3000

16824

2352328

5782211

693036

1913737

-9863196

2933798

3184361

NOTE D — ACQUISITIONS On <span id="xdx_901_eus-gaap--BusinessAcquisitionDateOfAcquisitionAgreement1_dd_c20230503__20230503__us-gaap--TypeOfArrangementAxis__custom--AssetPurchaseAgreementMember__us-gaap--BusinessAcquisitionAxis__custom--DMLabCoLTDMember_zwrGD7epzIOg" title="Date of acquisition aggrement">May 3, 2023, in connection with the development the Company’s core technology, the Company entered into an Asset Purchase Agreement with DM Lab Co., LTD (“DM Lab”), to acquire certain assets and assume certain liabilities in exchange for <span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_pid_c20230503__20230503__us-gaap--TypeOfArrangementAxis__custom--AssetPurchaseAgreementMember__us-gaap--BusinessAcquisitionAxis__custom--DMLabCoLTDMember_zUY6B6ssAdaj" title="Shares issued for acquisition">16,012,750 common shares with a fair value of $<span id="xdx_907_eus-gaap--StockIssuedDuringPeriodValueAcquisitions_c20230503__20230503__us-gaap--TypeOfArrangementAxis__custom--AssetPurchaseAgreementMember__us-gaap--BusinessAcquisitionAxis__custom--DMLabCoLTDMember_zAYrYVsWBZ18" title="Value of shares issued for acquisition">16,012,750 and $<span id="xdx_901_eus-gaap--BusinessCombinationConsiderationTransferred1_c20230503__20230503__us-gaap--TypeOfArrangementAxis__custom--AssetPurchaseAgreementMember__us-gaap--BusinessAcquisitionAxis__custom--DMLabCoLTDMember_zkcyBD7UPFdc" title="Cash consideration">257,112 in cash consideration including $<span id="xdx_903_eus-gaap--BusinessAcquisitionCostOfAcquiredEntityTransactionCosts_iI_c20230503__us-gaap--TypeOfArrangementAxis__custom--AssetPurchaseAgreementMember__us-gaap--BusinessAcquisitionAxis__custom--DMLabCoLTDMember_zXS8UCibUc6c" title="Transaction related cost">107,112 in transaction-related costs. The Company accounted for the transaction with DM Lab as an asset acquisition as the acquired set passed the screen test and as such did not meet the criteria to be considered a business according to ASC 805, Business Combinations. The total consideration paid including transaction-related costs was allocated to identifiable intangible and tangible assets acquired based on their acquisition date estimated fair values. The largest asset acquired was the in-process research and development intangible asset which the Company determined had alternative future uses and capitalized as an indefinite-lived intangible asset until the completion of the related research and development activities in accordance with ASC 350 or the determination that impairment is necessary. The in-process research and development intangible asset was valued using the multi-period excess earnings method which requires several judgements and assumptions to determine the fair value of intangible assets, including growth rates, EBITDA margins, and discount rates, among others. This nonrecurring fair value measurement is a Level 3 measurement within the fair value hierarchy. The following table summarizes the fair value of consideration transferred and its allocation to the assets acquired and liabilities assumed at their acquisition date fair values. SCHEDULE OF CONSIDERATION TRANSFERRED FOR ALLOCATION TO ASSETS ACQUIRED AND LIABILITIES ASSUMED <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold">Assets Acquired</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49D_20230503__us-gaap--BusinessAcquisitionAxis__custom--DMLabCoLTDMember_zTyMnOFyKftk" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Amount Recognized</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsOther_iI_maBCRIAzMP7_zKjVjPuBe7O3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">In-process research and development intangible asset</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">17,000,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_iI_maBCRIAzMP7_zOYjWwwXrNK7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Property and equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">721,916</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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_iNI_di_msBCRIAzMP7_z2pf4R2kHBC1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accounts payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(57,700</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther_iNI_di_msBCRIAzMP7_zAoYcsPbXtxl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(249,779</td><td style="text-align: left">)</td></tr> <tr id="xdx_408_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesShortTermDebt_iNI_di_msBCRIAzMP7_zA9AVaOKfEKd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Short-term debt</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,144,575</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iTI_mtBCRIAzMP7_znxK0wvi6RH7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total assets acquired and liabilities assumed</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">16,269,862</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet_iI_zV7aRoo9Uncl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total consideration</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">16,269,862</td><td style="text-align: left"> </td></tr> </table>

2023-05-03

16012750

257112

107112

SCHEDULE OF CONSIDERATION TRANSFERRED FOR ALLOCATION TO ASSETS ACQUIRED AND LIABILITIES ASSUMED <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold">Assets Acquired</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49D_20230503__us-gaap--BusinessAcquisitionAxis__custom--DMLabCoLTDMember_zTyMnOFyKftk" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Amount Recognized</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsOther_iI_maBCRIAzMP7_zKjVjPuBe7O3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">In-process research and development intangible asset</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">17,000,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_iI_maBCRIAzMP7_zOYjWwwXrNK7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Property and equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">721,916</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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_iNI_di_msBCRIAzMP7_z2pf4R2kHBC1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accounts payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(57,700</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther_iNI_di_msBCRIAzMP7_zAoYcsPbXtxl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(249,779</td><td style="text-align: left">)</td></tr> <tr id="xdx_408_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesShortTermDebt_iNI_di_msBCRIAzMP7_zA9AVaOKfEKd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Short-term debt</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,144,575</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iTI_mtBCRIAzMP7_znxK0wvi6RH7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total assets acquired and liabilities assumed</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">16,269,862</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet_iI_zV7aRoo9Uncl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total consideration</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">16,269,862</td><td style="text-align: left"> </td></tr> </table>

17000000

721916

57700

249779

1144575

16269862

NOTE E — PREPAID EXPENSES AND OTHER CURRENT ASSETS Prepaid expenses and other current assets consisted of the following: SCHEDULE OF PREPAID EXPENSES AND OTHER CURRENT ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_496_20240331_zg8OwFlvV7jb" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">March 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_498_20231231_zteSy38E2iif" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_403_eus-gaap--SecurityDeposit_iI_maPEAOAznGd_zHorDXpyHhPc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Security deposits</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">46,300</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">71,300</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--PrepaidTaxes_iI_maPEAOAznGd_zM3oqUJAgjNj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prepaid VAT</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,785</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,821</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--PrepaidLegalFees_iI_maPEAOAznGd_zRHHnzBHz6ij" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left">Prepaid legal fees</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">43,713</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--PrepaidProfessionalFees_iI_maPEAOAznGd_zNNzaEpORxMl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Prepaid professional fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">206,797</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">43,712</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--PrepaidInsurance_iI_maPEAOAznGd_zKzZfrZJc5Ub" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">Prepaid insurance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">574,236</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">—</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--OtherPrepaidExpenseCurrent_iI_maPEAOAznGd_zCLnROAk13nk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Prepaid other</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">193,875</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">78,460</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iTI_mtPEAOAznGd_z1WU9JsdPuMb" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">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">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,038,993</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">201,293</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

Prepaid expenses and other current assets consisted of the following: SCHEDULE OF PREPAID EXPENSES AND OTHER CURRENT ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_496_20240331_zg8OwFlvV7jb" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">March 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_498_20231231_zteSy38E2iif" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_403_eus-gaap--SecurityDeposit_iI_maPEAOAznGd_zHorDXpyHhPc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Security deposits</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">46,300</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">71,300</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--PrepaidTaxes_iI_maPEAOAznGd_zM3oqUJAgjNj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prepaid VAT</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,785</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,821</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--PrepaidLegalFees_iI_maPEAOAznGd_zRHHnzBHz6ij" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left">Prepaid legal fees</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">43,713</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--PrepaidProfessionalFees_iI_maPEAOAznGd_zNNzaEpORxMl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Prepaid professional fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">206,797</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">43,712</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--PrepaidInsurance_iI_maPEAOAznGd_zKzZfrZJc5Ub" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">Prepaid insurance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">574,236</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">—</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--OtherPrepaidExpenseCurrent_iI_maPEAOAznGd_zCLnROAk13nk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Prepaid other</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">193,875</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">78,460</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iTI_mtPEAOAznGd_z1WU9JsdPuMb" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">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">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,038,993</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">201,293</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

46300

71300

17785

7821

43713 206797 43712

574236

193875

78460

1038993

201293

NOTE F — PROPERTY AND EQUIPMENT, NET Property and equipment include equipment, furniture, and capitalized software. Furniture and equipment are depreciated using the straight-line method over estimated useful lives of <span id="xdx_900_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dt_c20240331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FurnitureAndEquipmentMember_zZNIPGT65zyf" title="Property and equipment useful life">three years. Capitalized software costs are amortized straight-line over an estimated useful life ranging from <span id="xdx_907_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20240331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--CapitalizedSoftwareMember__srt--RangeAxis__srt--MinimumMember_ziPnceoRfwQ1" title="Property and equipment useful life">5 to <span id="xdx_900_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20240331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--CapitalizedSoftwareMember__srt--RangeAxis__srt--MaximumMember_z4YuNGMz7S6k" title="Property and equipment useful life">10 years. Property and equipment consists of the following: SCHEDULE PROPERTY AND EQUIPMENT NET <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49E_20240331_zuEguqbD3HRd" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">March 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_498_20231231_zXKQre40U4Hi" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_zlBZx20zJHO9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Equipment</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">436,711</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">426,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zzgcY0bGEW47" style="vertical-align: bottom; background-color: White"> <td>Furniture</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">346,591</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">346,591</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--CapitalizedSoftwareMember_zYjSw1128h4a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Capitalized software</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,015,176</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">569,923</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--PropertyPlantAndEquipmentGross_iI_maPPAENz8P8_zUotr0hIK0S3" style="vertical-align: bottom; background-color: White"> <td>Total</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,798,478</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,342,514</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_msPPAENz8P8_ziuKlJvHHBb3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Accumulated depreciation and amortization</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(622,243</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(539,957</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPAENz8P8_zIqoYnz6AvVe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Property and equipment, net of accumulated depreciation and amortization</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,176,235</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">802,557</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> For the three months ended March 31, 2024 depreciation and amortization of property and equipment totaled $82,286. There was no depreciation and amortization during the three months ended March 31, 2023.

P3Y

P5Y

P10Y

Property and equipment consists of the following: SCHEDULE PROPERTY AND EQUIPMENT NET <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49E_20240331_zuEguqbD3HRd" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">March 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_498_20231231_zXKQre40U4Hi" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_zlBZx20zJHO9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Equipment</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">436,711</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">426,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zzgcY0bGEW47" style="vertical-align: bottom; background-color: White"> <td>Furniture</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">346,591</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">346,591</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--CapitalizedSoftwareMember_zYjSw1128h4a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Capitalized software</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,015,176</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">569,923</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--PropertyPlantAndEquipmentGross_iI_maPPAENz8P8_zUotr0hIK0S3" style="vertical-align: bottom; background-color: White"> <td>Total</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,798,478</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,342,514</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_msPPAENz8P8_ziuKlJvHHBb3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Accumulated depreciation and amortization</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(622,243</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(539,957</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPAENz8P8_zIqoYnz6AvVe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Property and equipment, net of accumulated depreciation and amortization</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,176,235</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">802,557</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

436711

426000

346591

1015176

569923

1798478

1342514

622243

539957

1176235

802557

82286

NOTE G — INTANGIBLE ASSETS The following table summarizes intangible assets included on the consolidated balance sheet: SCHEDULE OF INTANGIBLE ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">March 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Gross</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Accumulated Amortization</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Net</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Amortizing intangible 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><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-left: 10pt; width: 52%; text-align: left">Patent portfolio</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_c20240331__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_zTasnsHCx1Xk" style="width: 12%; text-align: right" title="Finite-lived intangible assets, gross">1,259,863</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_c20240331__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_zhVorMSBlNh4" style="width: 12%; text-align: right" title="Finite-lived intangible assets, accumulated amortization">(412,777</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_988_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_c20240331__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_zTFDsHkvcdTi" style="width: 12%; text-align: right" title="Finite-lived intangible assets, net">847,086</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Indefinite-lived intangible 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><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-left: 10pt; text-align: left; padding-bottom: 1.5pt">In-process research and development</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_989_ecustom--IndefiniteLivedIntangibleAssetsGross_iI_c20240331__us-gaap--IndefiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--InProcessResearchAndDevelopmentMember_zzd86KlKDxzk" style="border-bottom: Black 1.5pt solid; text-align: right" title="Indefinite-lived intangible assets, gross">17,000,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_988_ecustom--IndefiniteLivedIntangibleAssetsAccumulatedAmortization_iI_c20240331__us-gaap--IndefiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--InProcessResearchAndDevelopmentMember_zuGmkc0pAmfh" style="border-bottom: Black 1.5pt solid; text-align: right" title="Indefinite-lived intangible assets, accumulated amortization">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--IndefiniteLivedIntangibleAssetsExcludingGoodwill_iI_c20240331__us-gaap--IndefiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--InProcessResearchAndDevelopmentMember_zQ9V40E7LyGj" style="border-bottom: Black 1.5pt solid; text-align: right" title="Indefinite-lived intangible assets, net">17,000,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr 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 id="xdx_98E_eus-gaap--IntangibleAssetsGrossExcludingGoodwill_iI_c20240331_zoAjPDSVTFXe" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangible assets gross">18,259,863</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">$</td><td id="xdx_989_ecustom--IntangibleAssetsAccumulatedAmortization_iI_c20240331_zyYOTWfCTTA9" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangible assets, accumulated amortization">(412,777</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--IntangibleAssetsNetExcludingGoodwill_iI_c20240331_z1RygY9x1T03" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangible assets, net">17,847,086</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td colspan="9" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; width: 52%"> </td><td style="font-weight: bold; padding-bottom: 1.5pt; width: 2%"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left; width: 1%"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center; width: 12%">Gross</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left; width: 1%"> </td><td style="font-weight: bold; padding-bottom: 1.5pt; width: 2%"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left; width: 1%"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center; width: 12%">Accumulated Amortization</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left; width: 1%"> </td><td style="font-weight: bold; padding-bottom: 1.5pt; width: 2%"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left; width: 1%"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center; width: 12%">Net</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left; width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Amortizing intangible 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><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-left: 10pt; text-align: left">Patent portfolio</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98F_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_c20231231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_zjXcJvImFgA4" style="text-align: right" title="Finite-lived intangible assets, gross">1,259,863</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_c20231231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_zDRs40T4B0Nh" style="text-align: right" title="Finite-lived intangible assets, accumulated amortization">(377,716</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_c20231231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_zD8VKVXe0Pgl" style="text-align: right" title="Finite-lived intangible assets, net">882,147</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Indefinite-lived intangible 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><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-left: 10pt; text-align: left; padding-bottom: 1.5pt">In-process research and development</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_984_ecustom--IndefiniteLivedIntangibleAssetsGross_iI_c20231231__us-gaap--IndefiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--InProcessResearchAndDevelopmentMember_zrca4tHVc0vd" style="border-bottom: Black 1.5pt solid; text-align: right" title="Indefinite-lived intangible assets, gross">17,000,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_983_ecustom--IndefiniteLivedIntangibleAssetsAccumulatedAmortization_iI_c20231231__us-gaap--IndefiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--InProcessResearchAndDevelopmentMember_zaDS4T8azjt9" style="border-bottom: Black 1.5pt solid; text-align: right" title="Indefinite-lived intangible assets, accumulated amortization">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--IndefiniteLivedIntangibleAssetsExcludingGoodwill_iI_c20231231__us-gaap--IndefiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--InProcessResearchAndDevelopmentMember_zDiXer0p5UF" style="border-bottom: Black 1.5pt solid; text-align: right" title="Indefinite-lived intangible assets, net">17,000,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr 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 id="xdx_98F_eus-gaap--IntangibleAssetsGrossExcludingGoodwill_iI_c20231231_zg2P5NZet4F6" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangible assets gross">18,259,863</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">$</td><td id="xdx_98D_ecustom--IntangibleAssetsAccumulatedAmortization_iI_c20231231_zsFA2dQ6WJke" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangible assets, accumulated amortization">(377,716</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--IntangibleAssetsNetExcludingGoodwill_iI_c20231231_z8KYZ7ohkVaa" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangible assets, net">17,882,147</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Total amortization expense was $35,061 and $19,232 for the three months ended March 31, 2024 and 2023 respectively. Future amortization of intangible assets are estimated to be as follows: SCHEDULE OF FUTURE AMORTIZATION EXPENSE OF INTANGIBLE ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" id="xdx_49C_20240331_zG5sUtHaoGEf"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td>Years Ending December 31:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear_iI_maFLIANzeTg_zMagZ6IoiKib" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%">2024 (remaining 9 months)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">105,182</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_iI_maFLIANzeTg_zMH8gWWlQ8hf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">140,243</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_iI_maFLIANzeTg_zhClWOD6mOv" 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">140,243</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_iI_maFLIANzeTg_zxxjgpJUv2uf" 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">140,243</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_iI_maFLIANzeTg_zEplkexS0VP4" 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">140,243</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_iI_maFLIANzeTg_zjYT5SLr0Pa5" style="display: none; 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"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour_iI_maFLIANzeTg_zQcu6Quk3bfl" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Thereafter</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">180,932</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive_iI_maFLIANzeTg_zwI8VxHGIChg" style="display: none; vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Thereafter</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_mtFLIANzeTg_zt6J4cyYLpwk" 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">847,086</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

The following table summarizes intangible assets included on the consolidated balance sheet: SCHEDULE OF INTANGIBLE ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">March 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Gross</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Accumulated Amortization</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Net</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Amortizing intangible 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><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-left: 10pt; width: 52%; text-align: left">Patent portfolio</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_c20240331__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_zTasnsHCx1Xk" style="width: 12%; text-align: right" title="Finite-lived intangible assets, gross">1,259,863</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_c20240331__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_zhVorMSBlNh4" style="width: 12%; text-align: right" title="Finite-lived intangible assets, accumulated amortization">(412,777</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_988_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_c20240331__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_zTFDsHkvcdTi" style="width: 12%; text-align: right" title="Finite-lived intangible assets, net">847,086</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Indefinite-lived intangible 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><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-left: 10pt; text-align: left; padding-bottom: 1.5pt">In-process research and development</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_989_ecustom--IndefiniteLivedIntangibleAssetsGross_iI_c20240331__us-gaap--IndefiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--InProcessResearchAndDevelopmentMember_zzd86KlKDxzk" style="border-bottom: Black 1.5pt solid; text-align: right" title="Indefinite-lived intangible assets, gross">17,000,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_988_ecustom--IndefiniteLivedIntangibleAssetsAccumulatedAmortization_iI_c20240331__us-gaap--IndefiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--InProcessResearchAndDevelopmentMember_zuGmkc0pAmfh" style="border-bottom: Black 1.5pt solid; text-align: right" title="Indefinite-lived intangible assets, accumulated amortization">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--IndefiniteLivedIntangibleAssetsExcludingGoodwill_iI_c20240331__us-gaap--IndefiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--InProcessResearchAndDevelopmentMember_zQ9V40E7LyGj" style="border-bottom: Black 1.5pt solid; text-align: right" title="Indefinite-lived intangible assets, net">17,000,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr 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 id="xdx_98E_eus-gaap--IntangibleAssetsGrossExcludingGoodwill_iI_c20240331_zoAjPDSVTFXe" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangible assets gross">18,259,863</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">$</td><td id="xdx_989_ecustom--IntangibleAssetsAccumulatedAmortization_iI_c20240331_zyYOTWfCTTA9" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangible assets, accumulated amortization">(412,777</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--IntangibleAssetsNetExcludingGoodwill_iI_c20240331_z1RygY9x1T03" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangible assets, net">17,847,086</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td colspan="9" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; width: 52%"> </td><td style="font-weight: bold; padding-bottom: 1.5pt; width: 2%"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left; width: 1%"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center; width: 12%">Gross</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left; width: 1%"> </td><td style="font-weight: bold; padding-bottom: 1.5pt; width: 2%"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left; width: 1%"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center; width: 12%">Accumulated Amortization</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left; width: 1%"> </td><td style="font-weight: bold; padding-bottom: 1.5pt; width: 2%"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left; width: 1%"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center; width: 12%">Net</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left; width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Amortizing intangible 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><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-left: 10pt; text-align: left">Patent portfolio</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98F_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_c20231231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_zjXcJvImFgA4" style="text-align: right" title="Finite-lived intangible assets, gross">1,259,863</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_c20231231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_zDRs40T4B0Nh" style="text-align: right" title="Finite-lived intangible assets, accumulated amortization">(377,716</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_c20231231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_zD8VKVXe0Pgl" style="text-align: right" title="Finite-lived intangible assets, net">882,147</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Indefinite-lived intangible 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><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-left: 10pt; text-align: left; padding-bottom: 1.5pt">In-process research and development</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_984_ecustom--IndefiniteLivedIntangibleAssetsGross_iI_c20231231__us-gaap--IndefiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--InProcessResearchAndDevelopmentMember_zrca4tHVc0vd" style="border-bottom: Black 1.5pt solid; text-align: right" title="Indefinite-lived intangible assets, gross">17,000,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_983_ecustom--IndefiniteLivedIntangibleAssetsAccumulatedAmortization_iI_c20231231__us-gaap--IndefiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--InProcessResearchAndDevelopmentMember_zaDS4T8azjt9" style="border-bottom: Black 1.5pt solid; text-align: right" title="Indefinite-lived intangible assets, accumulated amortization">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--IndefiniteLivedIntangibleAssetsExcludingGoodwill_iI_c20231231__us-gaap--IndefiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--InProcessResearchAndDevelopmentMember_zDiXer0p5UF" style="border-bottom: Black 1.5pt solid; text-align: right" title="Indefinite-lived intangible assets, net">17,000,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr 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 id="xdx_98F_eus-gaap--IntangibleAssetsGrossExcludingGoodwill_iI_c20231231_zg2P5NZet4F6" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangible assets gross">18,259,863</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">$</td><td id="xdx_98D_ecustom--IntangibleAssetsAccumulatedAmortization_iI_c20231231_zsFA2dQ6WJke" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangible assets, accumulated amortization">(377,716</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--IntangibleAssetsNetExcludingGoodwill_iI_c20231231_z8KYZ7ohkVaa" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangible assets, net">17,882,147</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1259863

-412777

847086

17000000

18259863

-412777

17847086

1259863

-377716

882147

17000000

18259863

-377716

17882147

35061

19232

Future amortization of intangible assets are estimated to be as follows: SCHEDULE OF FUTURE AMORTIZATION EXPENSE OF INTANGIBLE ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" id="xdx_49C_20240331_zG5sUtHaoGEf"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td>Years 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_408_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear_iI_maFLIANzeTg_zMagZ6IoiKib" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%">2024 (remaining 9 months)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">105,182</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_iI_maFLIANzeTg_zMH8gWWlQ8hf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">140,243</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_iI_maFLIANzeTg_zhClWOD6mOv" 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">140,243</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_iI_maFLIANzeTg_zxxjgpJUv2uf" 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">140,243</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_iI_maFLIANzeTg_zEplkexS0VP4" 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">140,243</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_iI_maFLIANzeTg_zjYT5SLr0Pa5" style="display: none; 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"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour_iI_maFLIANzeTg_zQcu6Quk3bfl" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Thereafter</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">180,932</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive_iI_maFLIANzeTg_zwI8VxHGIChg" style="display: none; vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Thereafter</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_mtFLIANzeTg_zt6J4cyYLpwk" 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">847,086</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

105182

140243

180932

847086

NOTE H — ACCRUED EXPENSES Accrued expenses consist of the following: SCHEDULE OF ACCRUED EXPENSES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_493_20240331_zlsDy4JCvna2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">March 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_496_20231231_z8UHrLDFLUXf" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_404_eus-gaap--AccruedProfessionalFeesCurrent_iI_maALCzzUa_zH8xV7W9oV88" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Accrued professional fees</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">6,231,205</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">245,751</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--EmployeeRelatedLiabilitiesCurrent_iI_maALCzzUa_zdq8w6UogxBd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued compensation and related expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,137,944</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,146,435</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--AccruedLiabilitiesRelatedPartyCurrent_iI_maALCzzUa_z1t9HbhnHIS" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Due to related party</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">373,450</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">178,723</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OtherAccruedLiabilitiesCurrent_iI_maALCzzUa_z2DKrRiTbH2b" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Accrued other</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">30,790</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">66,139</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AccruedLiabilitiesCurrent_iTI_mtALCzzUa_zuE1k86Y6pRg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Accrued expenses</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,773,389</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,637,048</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

Accrued expenses consist of the following: SCHEDULE OF ACCRUED EXPENSES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_493_20240331_zlsDy4JCvna2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">March 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_496_20231231_z8UHrLDFLUXf" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_404_eus-gaap--AccruedProfessionalFeesCurrent_iI_maALCzzUa_zH8xV7W9oV88" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Accrued professional fees</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">6,231,205</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">245,751</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--EmployeeRelatedLiabilitiesCurrent_iI_maALCzzUa_zdq8w6UogxBd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued compensation and related expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,137,944</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,146,435</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--AccruedLiabilitiesRelatedPartyCurrent_iI_maALCzzUa_z1t9HbhnHIS" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Due to related party</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">373,450</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">178,723</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OtherAccruedLiabilitiesCurrent_iI_maALCzzUa_z2DKrRiTbH2b" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Accrued other</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">30,790</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">66,139</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AccruedLiabilitiesCurrent_iTI_mtALCzzUa_zuE1k86Y6pRg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Accrued expenses</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,773,389</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,637,048</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

6231205

245751

1137944

1146435

373450 178723

30790

66139

7773389

1637048

NOTE I — SHORT-TERM DEBT RELATED TO ACQUISITION OF DM LAB As of March 31, 2024, the Company had four loans outstanding that were assumed in the DM Lab transaction, totaling $891,974, a decrease of $252,601 from the acquisition date due to the amount converted to equity on May 25, 2023. The loans carry varying interest rates ranging from <span id="xdx_904_eus-gaap--DebtInstrumentInterestRateDuringPeriod_dp_c20240101__20240331__srt--RangeAxis__srt--MinimumMember__us-gaap--BusinessAcquisitionAxis__custom--DMLabMember_zmp9kdqzxEM6" title="Interest rate">4.667% to <span id="xdx_904_eus-gaap--DebtInstrumentInterestRateDuringPeriod_dp_c20240101__20240331__us-gaap--BusinessAcquisitionAxis__custom--DMLabMember__srt--RangeAxis__srt--MaximumMember_zYUB33CrLRig" title="Interest rate">6.69%. During the three months ended March 31, 2024 and 2023, the Company incurred interest expense of $15,616 and $0, respectively, which is included in interest expense in the unaudited condensed consolidated statement of operations. All loans are due within 12 months from the balance sheet date and have no optional or mandatory redemption or conversion features. These obligations have been classified as current liabilities on the balance sheet and the fair value of the loans approximates the carrying amount due to their short-term nature. Additionally, there are no associated restrictive covenants, third-party guarantees, or pledged collateral. As of the reporting date, there have been no defaults on these loans.

891974

252601

0.04667

0.0669

15616

NOTE J — STOCKHOLDERS’ EQUITY STOCKHOLDERS’ EQUITY On March 14, 2024 in connection with the Closing, the issuance of 7,885,220 shares of Common Stock to DHC stockholders as consideration for the Merger is reflected on the unaudited condensed consolidated statements of stockholders’ equity (deficit) for the three months ended March 31, 2024. Further, upon completion of the Merger, the Company’s Certificate of Incorporation and Bylaws were adopted, authorizing the issuance of 750,000,000 shares of Common Stock, par value of $0.0001 per share and 10,000,000 shares of Preferred Stock, par value of $0.0001 per share. In March 2024, concurrent with the Merger, the Company sold <span id="xdx_90C_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20240301__20240331__us-gaap--SubsidiarySaleOfStockAxis__custom--AFGCompaniesIncMember_zWQvTZQSSzp5" title="Number of shares issued in transaction">550,000 shares of Common Stock to AFG for gross proceeds of $<span id="xdx_90C_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_c20240301__20240331__us-gaap--SubsidiarySaleOfStockAxis__custom--AFGCompaniesIncMember_zo8gBJdyurOl" title="Sale of stock, consideration received on transaction">5,500,000. In August 2023, the Company entered into an Exclusive Reseller Agreement (“Reseller Agreement”) with AFG whereby AFG agreed to operate as the exclusive channel partner and reseller of the Company’s software as a service in the motor vehicle marketing and manufacturing industry for a term of five years. The Company issued to AFG <span id="xdx_902_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20230801__20230831__us-gaap--SubsidiarySaleOfStockAxis__custom--AFGCompaniesIncMember_z2IaZxMqTNsc" title="Number of shares issued in transaction">1,750,000 shares of Common Stock with an aggregate fair value of $13,475,000 based on the closing stock price on the date of the Merger which is recorded within other assets on the unaudited condensed consolidated balance sheet. This amount will be accounted for as a reduction in transaction price as the Company transfers goods and services to AFG over the term of the Reseller Agreement. Additionally, the Company issued a non-transferable warrant (“Reseller Warrant”) that entitles AFG to purchase up to 3,750,000 shares Common Stock at an exercise price of $10.00 and a fair value of $2.52 per warrant. The Reseller Warrant is divided into eleven tranches and each warrant tranche will become exercisable for a three-year period if the amount actually paid by AFG during an annual period meets or exceeds the corresponding threshold. As of March 31, 2024, none of the warrant tranches are exercisable as the vesting condition is not yet probable. When the vesting condition becomes probable, the fair value of the warrant tranche will be accounted for as a reduction in transaction price as the Company transfers goods and services to AFG during the annual period. Common Stock Warrants In connection with the Business Combination, the Company assumed <span id="xdx_906_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20240331__us-gaap--SubsidiarySaleOfStockAxis__custom--PublicWarrantsMember_zo2c2M7jrYig" title="Number of warrants">10,314,952 Public Warrants and <span id="xdx_905_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20240331__us-gaap--SubsidiarySaleOfStockAxis__custom--PrivatePlacementWarrantsMember_zdsWJKkKozA" title="Number of warrants">6,126,010 Private Placement Warrants which are all outstanding as of March 31, 2024. Each whole Public Warrant and Private Placement Warrant entitles the holder to purchase one share of the Company’s Common Stock at an exercise price of $11.50 per share. The Public Warrants and Private Placement Warrants may be exercised beginning on April 13, 2024 and expire on April 14, 2029. The Private Placement Warrants are identical to the Public Warrants, except that (x) the Private Placement Warrants and the Common Stock issuable upon the exercise of the Private Placement Warrants will not be transferable, assignable or salable until 30 days after the completion of a Business Combination, subject to certain limited exceptions. Additionally, the Private Placement Warrants will be exercisable on a cashless basis and be non-redeemable as described above so long as they are held by the initial purchasers or their permitted transferees. If the Private Placement Warrants are held by someone other than the initial purchasers or their permitted transferees, the Private Placement Warrants will be redeemable by the Company and exercisable by such holders on the same basis as the Public Warrants. Equity Compensation Plans 2021 Incentive Stock Option Plan In May 2021, the Company adopted the 2021 Incentive Stock Option Plan (“2021 Option Plan”) that provides for the grant of the following types of stock awards: (i) incentive stock Options, (ii) non-statutory stock options, (iii) stock appreciation rights, (iv) restricted stock awards, (v) restricted stock unit awards, and (vi) other stock awards. The 2021 Option Plan was administered by the Board of Directors. In connection with the Closing, all outstanding awards were assumed by BEN pursuant to the terms of the Business Combination Agreement and the Board of Directors declared that there will be no further issuances under the 2021 Option Plan. 2024 Long-Term Incentive Plan In connection with the Closing, the 2024 Long-Term Incentive Plan (the “2024 Plan”) became effective. The 2024 Plan provides for the grant of the following types of stock awards: (i) incentive stock options, (ii) nonqualified stock options, (iii) stock appreciation rights, (iv) restricted stock, (v) restricted stock units, (vi) performance awards, (vii) dividend equivalent rights, (viii) performance awards, (ix) performance goals, (x) tandem awards, (xi) prior plan awards, and (xii) other awards. The 2024 Plan is administered by the Board of Directors. The 2024 Plan awards are available to employees, officers and contractors. The option grants authorized for issuance under the 2024 Plan may total up to <span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_c20240331__us-gaap--PlanNameAxis__custom--TwentyTwentyFourPlanMember_zBPddQ2iW5q" title="Number of shares authorized">2,942,245 shares of Common Stock. As of March 31, 2024, <span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_c20240331__us-gaap--PlanNameAxis__custom--TwentyTwentyFourPlanMember_zmd7em0CAhc3" title="Number of shares grant">2,942,245 shares remained available for grant under the 2024 Plan.

7885220

750000000

0.0001

10000000

0.0001

550000

5500000

P5Y

1750000

13475000

3750000

10.00

2.52

10314952

6126010

11.50

2942245

NOTE K — EQUITY-BASED COMPENSATION EQUITY-BASED COMPENSATION Option Awards 2024 Activity The Company granted options to acquire <span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20240101__20240331_zyRtndcGv2a7" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">108,040 shares of Common Stock of the Company at weighted average exercise price of $8.10 per share in the three months ended March 31, 2024. Generally, options have a service vesting condition of 25% cliff after 1 year and then monthly thereafter for 36 months (2.067% per month). The following table provides the estimates included in the inputs to the Black-Scholes pricing model for the options granted: SCHEDULE OF WEIGHTED AVERAGE VALUATION ASSUMPTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td colspan="5" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Three Months Ended March 31,</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="width: 60%; padding-bottom: 1.5pt"> </td><td style="width: 2%; font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 16%; font-weight: bold; text-align: center">2024</td><td style="width: 1%; padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="width: 2%; font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 16%; font-weight: bold; text-align: center">2023</td><td style="width: 1%; padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20240101__20240331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zuHFc7RQF2v8" title="Expected term">5.0 years</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--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20230101__20230331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zEUNfOE7MOd6" title="Expected term">5.0 years</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Risk-free interest rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_dp_uPure_c20240101__20240331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zXIN39pZ33mk" title="Risk-free interest rate">4.13</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_dp_uPure_c20230101__20230331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zW7jhxpcnQk5" title="Risk-free interest rate">3.59</td><td style="text-align: left">%</td></tr> <tr 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"><span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_dp_uPure_c20240101__20240331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zwj1qX1Ngwmi" title="Dividend yield">0.00</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_dp_uPure_c20230101__20230331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zo5Ln8DzkJE9" title="Dividend yield">0.00</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp_uPure_c20240101__20240331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zuxshXrxO8T3" title="Volatility">54.79</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--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp_uPure_c20230101__20230331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zCwVcL9ofKC5" title="Volatility">49.94</td><td style="text-align: left">%</td></tr> </table> A summary of option activity for the three months ended March 31, 2024 is as follows: SUMMARY OF SHARE-BASED PAYMENT ARRANGEMENT OPTION ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Number of Shares</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Weighted Average Grant Date Fair Value</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Weighted Average Remaining Contractual Term (in years)</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%">Outstanding as of December 31, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20240101__20240331_zNpBTJFyzkEc" style="width: 12%; text-align: right" title="Number of shares outstanding, beginning balance">2,430,900</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 id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20240101__20240331_zT5F6GY3M1Y4" title="Weighted average exercise price outstanding, beginning balance">4.19</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 2.5pt">Granted</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20240101__20240331_zrUOi0PA4Ind" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares, granted">108,040</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20240101__20240331_z4oS8kMeQ4uh" title="Weighted average exercise price, granted">8.10</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">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_c20240101__20240331_zEwlrvbohiW4" title="Weighted average grant date fair value options, granted">4.18</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Outstanding as of March 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20240101__20240331_zEb1UVbwxwx7" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares outstanding, ending balance">2,538,940</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20240101__20240331_zZLSligw85pa" title="Weighted average exercise price outstanding, ending balance">4.31</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">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_905_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_iE_c20240101__20240331_zqGsv9KZq4t9" title="Weighted average grant date fair value options outstanding, ending balance">2.19</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240101__20240331_zNB6hPtLNSo3" title="Weighted average remaining contractual term (in years), ending">9.01</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Vested and expected to vest as of March 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber_iE_c20240101__20240331_zT5O7qLsYqml" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares vested and expected to vest">2,538,940</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice_iE_c20240101__20240331_zTREzPM0cEo2" title="Weighted average exercise price, vested and expected to vest">4.31</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">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90C_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestWeightedAverageGrantDateFairValue_c20240101__20240331_zo96uEwtIXPf" title="Weighted average grant date fair value options outstanding, ending balance">2.19</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90A_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1_dtY_c20240101__20240331_zrtGCO4PTgs9" title="Weighted average remaining contractual term (in years),vested and expected to vest">9.01</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Exercisable as of March 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_c20240101__20240331_zLHmBsMY7Wyf" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares exercisable">1,850,748</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_c20240101__20240331_zJRdm22N6nM3" title="Weighted average exercise price exercisable">3.89</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_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageGrantDateFairValue_c20240101__20240331_zcwtBFBiZjBh" title="Weighted average grant date fair value options outstanding, ending balance">1.90</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_90C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20240101__20240331_zag4X6M6KJ5g" title="Weighted average remaining contractual term (in years), exercisable">8.95</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The aggregate intrinsic value of options outstanding and options exercisable as of March 31, 2024 was $6,877,823 and $5,534,006, respectively. At March 31, 2024, future stock-based compensation for options granted and outstanding of $<span id="xdx_904_ecustom--FutureShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20240101__20240331_zHkIg4IBUWq7" title="Future stock-based compensation for options granted"><span id="xdx_903_ecustom--FutureShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingInPeriod_c20240101__20240331_z8Jccr6tscLj" title="Future stock-based compensation for options outstanding">1,802,591 will be recognized over a remaining weighted-average requisite service period of 3.28 years. The Company recorded stock-based compensation expense related to options of $406,980 and $2,381,010 in the three months ended March 31, 2024 and 2023, respectively, to the accompanying statements of operations. Warrant Awards There were 3,750,000 warrants granted to AFG in the three months ended March 31, 2024 at a weighted average exercise price of $<span id="xdx_902_ecustom--ShareBasedCompensationArrangementsByShareBasedPaymentAwardNonOptionsGrantsInPeriodWeightedAverageExercisePrice_c20240101__20240331_zKmYn6tRpef7" title="Exercise price of warrants granted">10.00 per share (Note J). There were 30,657 warrants exercised in the three months ended March 31, 2024 at a weighted average exercise price of $<span id="xdx_90E_ecustom--ShareBasedCompensationArrangementsByShareBasedPaymentAwardNonOptionsExercisesInPeriodWeightedAverageExercisePrice_c20240101__20240331_zAKoTsKP6KF1" title="Exercise price of warrants exercised">0.38 per share. As of March 31, 2024, there were 4,749,370 warrants outstanding at a weighted average exercise price of $8.54 per share, with expiration dates ranging from August 2029 to June 2033. There were 27,010 warrants granted during the three months ended March 31, 2023 at a weighted average exercise price of $<span id="xdx_904_ecustom--ShareBasedCompensationArrangementsByShareBasedPaymentAwardNonOptionsGrantsInPeriodWeightedAverageExercisePrice_c20230101__20230331_zYcmYJex7uHa" title="Exercise price of warrants granted">3.71 per share. The Company recorded $61,691 stock-based compensation expense related to warrants for the three months ended three months ended March 31, 2023. There was no such expense during the three months ended March 31, 2024. The following table provides the estimates included in the inputs to the Black-Scholes pricing model for the warrants granted: SCHEDULE OF WEIGHTED AVERAGE VALUATION ASSUMPTIONS FOR WARRANTS GRANTED <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Three Months Ended March 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Expected term</td><td> </td> <td colspan="2" style="text-align: right"><span id="xdx_906_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20240331__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zqBBjBhYrE8h" title="Expected term">3 years</td><td> </td><td> </td> <td colspan="2" style="text-align: right"><span id="xdx_904_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20230331__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zybvzQuvxgIj" title="Expected term">10 years</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">Risk-free interest rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_90D_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20240331__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_z9PT1M2rLvj5" title="Risk-free interest rate">4.46</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_902_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20230331__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zedFmWd7UsG7" title="Risk-free interest rate">3.74</td><td style="width: 1%; text-align: left">%</td></tr> <tr 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"><span id="xdx_906_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20240331__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zPavNlcZEQh4" title="Dividend yield">0.00</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--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20230331__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_z0QvywYNwu6l" title="Dividend yield">0.00</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20240331__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputOptionVolatilityMember_zq0TzOgeUIvc" title="Volatility">55.14</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--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20230331__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputOptionVolatilityMember_zT7TshQJrVW3" title="Volatility">45.86</td><td style="text-align: left">%</td></tr> </table> <p id="xdx_89C_eus-gaap--ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_zErPP5bMFjfe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The Company has recorded stock-based compensation related to its options and warrants in the accompanying statements of operations as follows: SCHEDULE OF STOCK-BASED COMPENSATION RELATED TO ITS OPTIONS AND WARRANTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49A_20240101__20240331_zg9ySChM5Rtj" style="font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49C_20230101__20230331_z2hPFfghGQj1" style="font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Three Months Ended March 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--AllocatedShareBasedCompensationExpense_hus-gaap--IncomeStatementLocationAxis__us-gaap--GeneralAndAdministrativeExpenseMember_zps9pt9Vig4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">General and administrative</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">334,049</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,442,701</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AllocatedShareBasedCompensationExpense_hus-gaap--IncomeStatementLocationAxis__us-gaap--ResearchAndDevelopmentExpenseMember_zmlM0ahh00Pd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Research and development</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">72,931</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AllocatedShareBasedCompensationExpense_zFzoHCiTdDYj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Stock based compensation</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">406,980</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">2,442,701</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Stock-based compensation capitalized as part of capitalized software costs for the three months ended March 31, 2024 were $291,725. No stock-based compensation costs were capitalized during the three months ended March 31, 2023.

108040

8.10

0.25

1 year and then monthly thereafter for 36 months (2.067% per month).

The following table provides the estimates included in the inputs to the Black-Scholes pricing model for the options granted: SCHEDULE OF WEIGHTED AVERAGE VALUATION ASSUMPTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td colspan="5" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Three Months Ended March 31,</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="width: 60%; padding-bottom: 1.5pt"> </td><td style="width: 2%; font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 16%; font-weight: bold; text-align: center">2024</td><td style="width: 1%; padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="width: 2%; font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 16%; font-weight: bold; text-align: center">2023</td><td style="width: 1%; padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20240101__20240331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zuHFc7RQF2v8" title="Expected term">5.0 years</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--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20230101__20230331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zEUNfOE7MOd6" title="Expected term">5.0 years</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Risk-free interest rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_dp_uPure_c20240101__20240331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zXIN39pZ33mk" title="Risk-free interest rate">4.13</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_dp_uPure_c20230101__20230331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zW7jhxpcnQk5" title="Risk-free interest rate">3.59</td><td style="text-align: left">%</td></tr> <tr 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"><span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_dp_uPure_c20240101__20240331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zwj1qX1Ngwmi" title="Dividend yield">0.00</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_dp_uPure_c20230101__20230331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zo5Ln8DzkJE9" title="Dividend yield">0.00</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp_uPure_c20240101__20240331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zuxshXrxO8T3" title="Volatility">54.79</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--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp_uPure_c20230101__20230331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zCwVcL9ofKC5" title="Volatility">49.94</td><td style="text-align: left">%</td></tr> </table>

P5Y

0.0413

0.0359

0.0000

0.5479

0.4994

A summary of option activity for the three months ended March 31, 2024 is as follows: SUMMARY OF SHARE-BASED PAYMENT ARRANGEMENT OPTION ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Number of Shares</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Weighted Average Grant Date Fair Value</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Weighted Average Remaining Contractual Term (in years)</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%">Outstanding as of December 31, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20240101__20240331_zNpBTJFyzkEc" style="width: 12%; text-align: right" title="Number of shares outstanding, beginning balance">2,430,900</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20240101__20240331_zT5F6GY3M1Y4" title="Weighted average exercise price outstanding, beginning balance">4.19</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><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 style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 2.5pt">Granted</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20240101__20240331_zrUOi0PA4Ind" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares, granted">108,040</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">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20240101__20240331_z4oS8kMeQ4uh" title="Weighted average exercise price, granted">8.10</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_c20240101__20240331_zEwlrvbohiW4" title="Weighted average grant date fair value options, granted">4.18</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">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Outstanding as of March 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_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20240101__20240331_zEb1UVbwxwx7" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares outstanding, ending balance">2,538,940</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">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20240101__20240331_zZLSligw85pa" title="Weighted average exercise price outstanding, ending balance">4.31</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_905_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_iE_c20240101__20240331_zqGsv9KZq4t9" title="Weighted average grant date fair value options outstanding, ending balance">2.19</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_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240101__20240331_zNB6hPtLNSo3" title="Weighted average remaining contractual term (in years), ending">9.01</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Vested and expected to vest as of March 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_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber_iE_c20240101__20240331_zT5O7qLsYqml" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares vested and expected to vest">2,538,940</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">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice_iE_c20240101__20240331_zTREzPM0cEo2" title="Weighted average exercise price, vested and expected to vest">4.31</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90C_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestWeightedAverageGrantDateFairValue_c20240101__20240331_zo96uEwtIXPf" title="Weighted average grant date fair value options outstanding, ending balance">2.19</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_90A_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1_dtY_c20240101__20240331_zrtGCO4PTgs9" title="Weighted average remaining contractual term (in years),vested and expected to vest">9.01</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Exercisable as of March 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_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_c20240101__20240331_zLHmBsMY7Wyf" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares exercisable">1,850,748</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">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_c20240101__20240331_zJRdm22N6nM3" title="Weighted average exercise price exercisable">3.89</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90E_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageGrantDateFairValue_c20240101__20240331_zcwtBFBiZjBh" title="Weighted average grant date fair value options outstanding, ending balance">1.90</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_90C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20240101__20240331_zag4X6M6KJ5g" title="Weighted average remaining contractual term (in years), exercisable">8.95</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

2430900

4.19

108040

8.10

4.18

2538940

4.31

2.19

P9Y3D

2538940

4.31

2.19

P9Y3D

1850748

3.89

1.90

P8Y11M12D

6877823

5534006

1802591 1802591

P3Y3M10D

406980 2381010

3750000

10.00

30657

0.38

4749370

8.54

27010

3.71

61691

The following table provides the estimates included in the inputs to the Black-Scholes pricing model for the warrants granted: SCHEDULE OF WEIGHTED AVERAGE VALUATION ASSUMPTIONS FOR WARRANTS GRANTED <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Three Months Ended March 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Expected term</td><td> </td> <td colspan="2" style="text-align: right"><span id="xdx_906_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20240331__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zqBBjBhYrE8h" title="Expected term">3 years</td><td> </td><td> </td> <td colspan="2" style="text-align: right"><span id="xdx_904_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20230331__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zybvzQuvxgIj" title="Expected term">10 years</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">Risk-free interest rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_90D_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20240331__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_z9PT1M2rLvj5" title="Risk-free interest rate">4.46</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_902_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20230331__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zedFmWd7UsG7" title="Risk-free interest rate">3.74</td><td style="width: 1%; text-align: left">%</td></tr> <tr 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"><span id="xdx_906_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20240331__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zPavNlcZEQh4" title="Dividend yield">0.00</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--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20230331__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_z0QvywYNwu6l" title="Dividend yield">0.00</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20240331__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputOptionVolatilityMember_zq0TzOgeUIvc" title="Volatility">55.14</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--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20230331__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputOptionVolatilityMember_zT7TshQJrVW3" title="Volatility">45.86</td><td style="text-align: left">%</td></tr> </table>

P3Y

P10Y

4.46

3.74

0.00

55.14

45.86

<p id="xdx_89C_eus-gaap--ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_zErPP5bMFjfe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The Company has recorded stock-based compensation related to its options and warrants in the accompanying statements of operations as follows: SCHEDULE OF STOCK-BASED COMPENSATION RELATED TO ITS OPTIONS AND WARRANTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49A_20240101__20240331_zg9ySChM5Rtj" style="font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49C_20230101__20230331_z2hPFfghGQj1" style="font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Three Months Ended March 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--AllocatedShareBasedCompensationExpense_hus-gaap--IncomeStatementLocationAxis__us-gaap--GeneralAndAdministrativeExpenseMember_zps9pt9Vig4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">General and administrative</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">334,049</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,442,701</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AllocatedShareBasedCompensationExpense_hus-gaap--IncomeStatementLocationAxis__us-gaap--ResearchAndDevelopmentExpenseMember_zmlM0ahh00Pd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Research and development</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">72,931</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AllocatedShareBasedCompensationExpense_zFzoHCiTdDYj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Stock based compensation</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">406,980</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,442,701</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

334049

2442701

72931

406980

2442701

291725

NOTE L — RELATED PARTY TRANSACTIONS AFG Reseller Agreement On August 19, 2023, the Company entered into Reseller Agreement, providing for, among other things, AFG to act as the Company’s exclusive reseller of certain products on terms and conditions set forth therein and, as partial consideration to AFG for such services, the Company issued 1,750,000 of Common Stock with an aggregate fair value of $13,475,000 based on the closing stock price on the date of the Merger. Additionally, the Company issued AFG a warrant to purchase up to 3,750,000 shares of Common Stock, with each warrant exercisable for one share of Common Stock at an exercise price of $10.00 and a fair value of $2.52 per warrant (Note J). During the three months ended March 31, 2024 there was no revenue recognized pursuant to the Reseller Agreement. Advances to Officers and Directors Certain officers and directors advanced funds to or were advanced from the Company on an undocumented, non-interested bearing, due on demand basis. As of March 31, 2024, $<span id="xdx_904_eus-gaap--AccruedLiabilitiesCurrent_iI_c20240331__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember__us-gaap--BalanceSheetLocationAxis__us-gaap--AccountsPayableAndAccruedLiabilitiesMember_z5SRisYzkMbh" title="Accrued Liabilities, Current">373,450 and $<span id="xdx_90B_eus-gaap--AccountsPayableCurrentAndNoncurrent_iI_c20240331__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember__us-gaap--BalanceSheetLocationAxis__us-gaap--AccountsPayableAndAccruedLiabilitiesMember_zRzEp4IU5Xlg" title="Accounts Payable">45,837 of amounts owed to related parties were included within accrued expenses and accounts payable, respectively, in the accompanying unaudited condensed consolidated balance sheet. As of December 31, 2023, $<span id="xdx_90D_eus-gaap--AccruedLiabilitiesCurrent_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember__srt--RestatementAxis__srt--RestatementAdjustmentMember_zbUEq6gbC1a3" title="Accrued Liabilities, Current">178,723 and $48,069 of amounts owed to related parties were included within accrued expenses and accounts payable, respectively, in the accompanying consolidated balance sheet. In the three months ended March 31, 2024 and 2023, the Company recorded professional and other fees and costs related to consulting services from related parties of $<span id="xdx_908_eus-gaap--OperatingCostsAndExpenses_c20240101__20240331__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zJPEo0zNHfy9" title="Professional and other fees and costs">58,785 and $<span id="xdx_903_eus-gaap--OperatingCostsAndExpenses_c20230101__20230331__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z2ID9r3uV8S7" title="Professional and other fees and costs">40,290, respectively, within general and administrative expenses in the accompanying unaudited condensed consolidated statements of operations. Promissory Note On June 30, 2023, the Company entered into a promissory note agreement with a related party for $<span id="xdx_90F_eus-gaap--DebtInstrumentFaceAmount_iI_c20230630__us-gaap--TypeOfArrangementAxis__custom--PromissoryNoteAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zd3IrDtcfls5" title="Promissory note">620,000. The note bears interest at <span id="xdx_906_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20230630__us-gaap--TypeOfArrangementAxis__custom--PromissoryNoteAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zUlCaVZismFe" title="Interest rate">7% per annum and matures on <span id="xdx_904_eus-gaap--DebtInstrumentMaturityDate_dd_c20230630__20230630__us-gaap--TypeOfArrangementAxis__custom--PromissoryNoteAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z8GuWohFdWC7" title="Maturity date">June 25, 2025. The proceeds were used to satisfy a financial obligation totaling $<span id="xdx_909_eus-gaap--PaymentsForFees_c20230630__20230630__us-gaap--TypeOfArrangementAxis__custom--PromissoryNoteAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zrkrM28yLfZ7" title="Advisory fees">500,000 that the Company owed to an advisory firm. <span id="xdx_901_eus-gaap--DebtInstrumentPaymentTerms_c20230630__20230630__us-gaap--TypeOfArrangementAxis__custom--PromissoryNoteAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zgdZzdXOvPS6" title="Payment terms">The Company may prepay interest and principal on the note at any time before maturity on June 25, 2025. As of March 31, 2024, the balance on the promissory note was $<span id="xdx_907_eus-gaap--DebtInstrumentCarryingAmount_iI_c20240331__us-gaap--TypeOfArrangementAxis__custom--PromissoryNoteAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zPcS7Cn9RZDa" title="Outstanding balance promissory note">500,000. For the three months ended March 31, 2024, the Company recorded $<span id="xdx_903_eus-gaap--InterestExpense_c20240101__20240331__us-gaap--TypeOfArrangementAxis__custom--PromissoryNoteAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zeSXxyK4jncb" title="Interest expense">10,582 in interest expense related to the promissory note agreement. Related Party Advance The Company received non-interest bearing and payable upon demand related party advances from DHC’s Sponsor in connection with the Merger. As of March 31, 2024, the Company had $693,036 in related party advances in the accompanying unaudited consolidated balance sheets.

1750000

13475000

3750000

10.00

2.52

373450

45837

178723

48069

58785

40290

620000

0.07

2025-06-25

500000

The Company may prepay interest and principal on the note at any time before maturity on June 25, 2025.

500000

10582

693036

NOTE M — COMMITMENTS AND CONTINGENCIES The Company is subject to various legal and regulatory proceedings, claims, and assessments, as well as other contingencies, that arise in the ordinary course of business. The Company accrues for these contingencies when it is probable that a loss has been incurred and the amount of the loss can be reasonably estimated. The Company regularly reviews and updates its accruals for contingencies and makes adjustments as necessary based on changes in circumstances and the emergence of new information. Litigation Liabilities for loss contingencies, arising from claims, assessments, litigation, fines, penalties, and other sources are recorded when it is probable that a liability has been incurred and the amount of the assessment and/or remediation can be reasonably estimated. Employment contracts The Company has entered into employment contracts with its officers and certain employees that provide for severance and continuation benefits in the event of termination of employment either by the Company without cause or by the employee for good reason, both as defined in the agreements, along with any unpaid vested options, equity or earned bonuses. In addition, in the event of termination of employment following a change in control, as defined in each agreement, the employee shall receive a prorated bonus payment and severance payments (as defined in each agreement). Korea University The Company is party to a research and development sponsorship agreement with Korea University. Pursuant to the sponsorship agreement, the Company has agreed to pay <span id="xdx_904_eus-gaap--ResearchAndDevelopmentExpense_pn6n6_uKRW_c20230401__20231231__us-gaap--TypeOfArrangementAxis__custom--ResearchAndDevelopmentSponsorshipAgreementOneMember__srt--CounterpartyNameAxis__custom--KoreaUniversityMember_z1CeW3beX9jg" title="Research and development expense">275 million Korean won to Korea University during the period from April 1, 2023 through December, 31, 2023. As of March 31, 2024, the Company owes a remaining <span id="xdx_903_ecustom--RemainingOwesResearchAndDevelopmentExpense_iI_pn6n6_uKRW_c20240331__us-gaap--TypeOfArrangementAxis__custom--ResearchAndDevelopmentSponsorshipAgreementOneMember__srt--CounterpartyNameAxis__custom--KoreaUniversityMember_zpwkYpaaV1Jf" title="Remaining owes research and development expense">40 million Korean won (approximately $<span id="xdx_90E_ecustom--RemainingOwesResearchAndDevelopmentExpense_iI_c20240331__us-gaap--TypeOfArrangementAxis__custom--ResearchAndDevelopmentSponsorshipAgreementOneMember__srt--CounterpartyNameAxis__custom--KoreaUniversityMember_zyW4up8VNLse" title="Remaining owes research and development expense">30,800). In November 2023, the Company entered into an additional research and development sponsorship agreement with Korea University. Pursuant to the sponsorship agreement, the Company has agreed to pay <span id="xdx_90F_eus-gaap--ResearchAndDevelopmentExpense_pn5n6_uKRW_c20231101__20240310__us-gaap--TypeOfArrangementAxis__custom--ResearchAndDevelopmentSponsorshipAgreementTwoMember__srt--CounterpartyNameAxis__custom--KoreaUniversityMember_z7Ak8t3XOch6" title="Research and development expense">21.6 million Korean won to Korea University during the period from November 1, 2023 through March 10, 2024. During the three months ended March 31, 2024, the Company had paid the remaining $<span id="xdx_909_eus-gaap--SponsorFees_c20240101__20240331__us-gaap--TypeOfArrangementAxis__custom--ResearchAndDevelopmentSponsorshipAgreementTwoMember__srt--CounterpartyNameAxis__custom--KoreaUniversityMember_zpnsemGhXg2c" title="Sponsor fees">12,058. In December 2023, the Company entered into a Research and Development Agreement with Korea University for total consideration of up to <span id="xdx_905_eus-gaap--ResearchAndDevelopmentExpense_pn6n6_uKRW_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ResearchAndDevelopmentSponsorshipAgreementTwoMember__srt--CounterpartyNameAxis__custom--KoreaUniversityMember__srt--RangeAxis__srt--MaximumMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_znPdPcxAqX06" title="Research and development expense">528 million Korean won (approximately $<span id="xdx_908_eus-gaap--ResearchAndDevelopmentExpense_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ResearchAndDevelopmentSponsorshipAgreementTwoMember__srt--CounterpartyNameAxis__custom--KoreaUniversityMember__srt--RangeAxis__srt--MaximumMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z40jd72ITGR4" title="Research and development expense">406,560) from January 2024 through December 2024. The Company can terminate the agreement upon written notice to Korea University for a period of at least one month. As of March 31, 2024, the Company had paid <span id="xdx_904_eus-gaap--ResearchAndDevelopmentExpense_pn6n6_uKRW_c20240101__20240331__us-gaap--TypeOfArrangementAxis__custom--ResearchAndDevelopmentSponsorshipAgreementTwoMember__srt--CounterpartyNameAxis__custom--KoreaUniversityMember__srt--RangeAxis__srt--MaximumMember_zMY61IlqxGnj" title="Research and development expense">211 million Korean won (approximately $<span id="xdx_901_eus-gaap--ResearchAndDevelopmentExpense_c20240101__20240331__us-gaap--TypeOfArrangementAxis__custom--ResearchAndDevelopmentSponsorshipAgreementTwoMember__srt--CounterpartyNameAxis__custom--KoreaUniversityMember__srt--RangeAxis__srt--MaximumMember_zmbDMkVR0Wk4" title="Research and development expense">156,288) in connection with the Research and Development Agreement and will owe the remaining <span id="xdx_901_ecustom--RemainingOwesResearchAndDevelopmentExpense_iI_pn5n6_uKRW_c20240331__us-gaap--TypeOfArrangementAxis__custom--ResearchAndDevelopmentSponsorshipAgreementTwoMember__srt--CounterpartyNameAxis__custom--KoreaUniversityMember_zpec2oQMBr9g" title="Remaining owes research and development expense">269 million Korean won (approximately $<span id="xdx_906_ecustom--RemainingOwesResearchAndDevelopmentExpense_iI_c20240331__us-gaap--TypeOfArrangementAxis__custom--ResearchAndDevelopmentSponsorshipAgreementTwoMember__srt--CounterpartyNameAxis__custom--KoreaUniversityMember_z2ClzShqjlL3" title="Remaining owes research and development expense">198,912) throughout the remainder of 2024.

275000000

40000000 30800

21600000

12058

528000000

406560

211000000

156288

269000000 198912

NOTE N — SUBSEQUENT EVENTS On April 12, 2024, the Company issued a convertible promissory note to J.V.B. Financial Group, LLC, acting through its Cohen & Company Capital Markets division (“CCM”) in the principal amount of $<span id="xdx_90B_eus-gaap--DebtInstrumentFaceAmount_iI_c20240412__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNoteDueMarch2025Member__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zoxIAZHOML28" title="Principal amount">1,900,000 (the “Cohen Convertible Note”), to settle outstanding invoices totaling $<span id="xdx_900_eus-gaap--AccountsPayableCurrent_iI_c20240412__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNoteDueMarch2025Member__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zb3naxSYIKy6" title="Outstanding invoices amount">1,900,000 related to investment banking services rendered to the Company in connection with the Business Combination. Beginning on October 14, 2024, interest will accrue at the fixed rate of <span id="xdx_902_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_c20240412__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNoteMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zV6cY5SQRTtk" title="stated interest rate">8% per annum on the outstanding principal amount until the Cohen Convertible Note is paid in full. Interest is payable monthly in cash or in-kind at the election of the Company. The Company may prepay the Cohen Convertible Note in whole or in part at any time or from time to time without penalty or premium. The Company may be required to prepay all or a portion of the Cohen Convertible Note upon the consummation of certain capital raising activities as described therein. The maturity date of the Cohen Convertible Note is March 14, 2025. Beginning on December 14, 2024 (the “First Conversion Date”), the Cohen Convertible Note is convertible into shares of Common Stock of the Company equal to: (i) up to <span id="xdx_909_ecustom--DebtInstrumentConvertibleOutstandingPrincipleBalancePercentage_iI_dp_c20241214__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNoteMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zFUT8WZHg0S1" title="Outstanding principal balance">40% of the outstanding principal balance plus accrued interest due under the Cohen Convertible Note divided by (ii) a price per share (the “Conversion Purchase Price”) equal to <span id="xdx_905_ecustom--DebtInstrumentConvertibleThresholdPercentageOfVolumeWeightedAveragePrice_iI_dp_c20241214__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNoteMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zzVDpGZmw3nl" title="Conversion purchase price">92.75% of the arithmetic average of the Daily VWAP (as defined therein) for the five VWAP Trading Days (as defined therein) ending on the VWAP Trading Day immediately preceding the applicable Conversion Date (as defined below); provided, that, if the Conversion Purchase Price is less than $<span id="xdx_90B_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_dp_c20241214__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNoteMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z9FsQV7gmLY4" title="Conversion purchase per price">1.20 per share (the “Floor Price”) on the Conversion Date, CCM may not convert any portion of the Cohen Convertible Note on such Conversion Date at a price less than the Floor Price. Additionally, on the 14th day of each successive month commencing with January 14, 2025 (each such day, an “Additional Conversion Date” and together with the First Conversion Date, the “Conversion Dates”), CCM may convert a portion of Cohen Convertible Note to a number of shares equal to (i) up to <span id="xdx_900_ecustom--DebtInstrumentConvertibleOutstandingPrincipleBalancePercentage_iI_dp_c20241214__us-gaap--DebtInstrumentAxis__custom--CohenConvertibleNoteMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z0oxlYrpiN4d" title="Outstanding principal balance">20% of the outstanding principal balance of the Cohen Convertible Note plus accrued interest due under the Cohen Convertible Note divided by (ii) the Conversion Purchase Price (subject to the Floor Price). A maximum of <span id="xdx_90E_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_c20241214__20241214__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNoteMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zkDoV63hU109" title="Shares issued upon conversion">1,583,334 shares of Common Stock may be issued upon conversion of the Cohen Convertible Note.

1900000

0.08

0.40 0.9275

0.0120

0.20

1583334

1685013

2010

10000

1000

13685

201293

250

1896306

16945

802557

17882147

600317

1427729

8850

22008739

626112

1282974

580680

1637048

35539

2290

50000

223300

3145612

666219

500000

668674

4314286

666219

0.0001

10000000

0.0001

100000000

23270404

17057085

2327

1705

2327

1705

30993846

1528642

-13301720

-1570454

17694453

-40107

22008739

626112

35210

15642

35210

15642

10841024

1026549

637990

76928

236710

136404

11715724

1239881

-11680514

-1224239

56515

15520

-9757

-362

548563

-50752

548201

-11731266

-676038

-11731266

-676038

-0.57

-0.04

20635508

15719355

16035837

1604

1337556

-894416

444744

94535

34991

35000

656613 66 37371 37437 270100 26 99974 100000

18750

-676038

16035837

1604

1337556

-894416

444744

17057085

1705

1528642

-1570454

-40107

17057085

1705

1528642

-1570454

-40107

4325043

433

16012317

16012750

202575

60918

60938

14062

830547

3074917

3075000

238488 24 432939 432963 616666 62 4929938 4930000

4940113

-11731266

23270404

2327

30993846

-13301720

17694453

23270404

2327

30993846

-13301720

17694453

-11731266

-676038

637990

76928

20000

548563

100000

4878655

18750

201043

250

29500

1000

101396

950850

1257879

-8850

6090

2290

-5054749

-85413

48349

379864

453709

257113

-1139035

5000000

3075000

620000

120000

25000

10000

90000

711859

159464 13685

138110

11108

7876787

87423

1683003

2010

1685013

2010

54756 61458 3075000 432963 37437 2326 40000 711234 74636 16012750

NOTE A - NATURE OF OPERATIONS AND GOING CONCERN History Brand Engagement Network Inc. (formerly Blockchain Exchange Network Inc.) (together with its subsidiaries, “BEN” or “the Company”) was formed in Jackson, Wyoming on April 17, 2018, and was named in honor of the renowned Founding Father and inventor, Benjamin Franklin. In 2019, the Company became a wholly owned subsidiary of Datum Point Labs (“DPL”), and then was spun out of DPL in May 2021. BEN acquired DPL in December 2021. The recent developments of the business are as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.5in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">In November 2022, the Company determined that the AI industry had a higher likelihood, as compared to blockchain and other forms of data management, of long-term potential due to the rapidly evolving consumer demand for AI solutions.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.5in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">In the fourth quarter of 2022, the Company’s management team, in consultation with its advisors, developed an internal strategy to execute on AI. Significant changes were made to the business, including abandoning a primary strategy involving blockchain, and completing an overhaul of the platform, a shift from business-to-consumer to business-to-business-to-consumer, and the development of a new business model and use cases.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.5in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">In February 2023, DHC Acquisition Corp, a special purpose acquisition company, and the Company entered into a non-disclosure agreement for a potential business combination.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.5in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">As the Company continued to look at acquisitions to further its strategy of consumer data management through AI, the Company identified an opportunity to acquire DM Lab (Note C). In March 2023, the Company provided a non-binding term sheet to DM Lab.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.5in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">In April of 2023, the Company’s management team traveled to Korea to visit DM Lab. Because the Company believed DM Lab to be in distress, the Company believed DM Lab to be an attractive target for an acquisition given its technology, intellectual property and its existing collaboration with Korea University. As the Company performed diligence on DM Lab and the AI market, the Company determined that the acquisition was in the best interest of its shareholders.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.5in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">In April 2023, the Company retained the services of, on a consulting basis, its Chief Executive Officer to provide consulting and professional services relating to the Company’s product development.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.5in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">In April 2023, the Company undertook a convertible note offering with accredited investors with a conversion price of $3.70 per share.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.5in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">In May 2023, the Company entered into an asset purchase agreement to purchase DM Lab.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.5in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">The Company still holds significant intellectual property in the form of a patent portfolio that the Company believes will be a cornerstone of its artificial intelligence solutions for certain industries that it expects to target, including the automotive, healthcare, and financial services industries.</td></tr> </table> Nature of Operations The Company is an innovative AI platform provider, designed to interface with emerging technologies, including blockchain, internet of things, and cloud computing, that drives digital transformation across various industries and provides businesses with unparalleled competitive edge. BEN offers a suite of configured and customizable applications, including natural language processing, anomaly detection, encryption, recommendation engines, sentiment analysis, image recognition, personalization, and real-time decision-making. These applications help companies improve customer experiences, optimize cost drivers, mitigate risks, and enhance operational efficiency. Exchange Ratio As noted in Note P, in connection with the merger, all common stock and instruments convertible or exercisable into common stock, per share and related information presented in the consolidated financial statements and notes prior to the merger have been retroactively adjusted to reflect the Exchange Ratio. Going Concern The accompanying financial statements have been prepared as though the Company will continue as a going concern, which contemplates the realization of consolidated assets and satisfaction of liabilities in the normal course of business. As of and for the year ended December 31, 2023, the Company has an accumulated deficit of approximately $13.3 million, a net loss of approximately $11.7 million and net cash used in operating activities of approximately $5.1 million. Management expects to continue to incur operating losses and negative cash flows from operations for at least the next 12 months. The Company has financed its operations to date from proceeds from the sale of common stock, exercises of warrants, and issuance of debt. The Company’s current liquidity position raises substantial doubt about the Company’s ability to continue as a going concern. The Company believes that its existing cash and cash equivalents will be insufficient to meet its anticipated cash requirements for at least the next 12 months from the date the consolidated financial statements are issued. The assumptions upon which the Company has based its estimates are routinely evaluated and may be subject to change. The actual amount of the Company’s expenditures will vary depending upon several factors including but not limited to the design, timing, and the progress of the Company’s research and development programs, and the level of financial resources available. The Company can adjust its operating plan spending based on available financial resources. The Company will need to raise additional capital to continue to fund operations and product research and development. The Company believes that it will be able to obtain additional working capital through equity financings, additional debt, or other arrangements to fund future operations; however, as of the date of these financial statements, no committed funding has been obtained, and there can be no assurance that such additional financing, if available, can be obtained on terms acceptable to the Company. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

2018-04-17

3.70

-13300000

-11700000

-5100000

NOTE B – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Consolidation The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The Company’s consolidated financial statements include the accounts of the Company and the accounts of the Company’s wholly-owned subsidiary. All significant intercompany balances and transactions have been eliminated in consolidation. Use of Estimates The preparation of the accompanying consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions about future events. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities, and reported amounts of revenue and expenses. Actual results and outcomes could differ significantly from the Company’s estimates, judgments, and assumptions. Significant estimates in the financial statements include, but are not limited to, assumptions used to measure stock-based compensation, the valuation of patents received in the acquisition of an entity under common control, and the Company also performs impairment testing on certain assets such as the indefinite lived intangible assets. These estimates and assumptions are based on management’s best estimates and judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, which management believes to be reasonable under the circumstances. The Company adjusts such estimates and assumptions when facts and circumstances dictate. Changes in those estimates resulting from continuing changes in the economic environment will be reflected in the financial statements in future periods. As future events and their effects cannot be determined with precision, actual results could materially differ from those estimates and assumptions. Segment and geographic information Operating segments are defined as components of an entity about which separate discrete financial information is available for evaluation by the chief operating decision maker (CODM), or decision-making group, in deciding how to allocate resources and in assessing performance. The CODM for the Company is the Chief Executive Officer. The Company views its operations as, and manages its business in, one operating segment. The Company has an office in the Republic of Korea dedicated to research and development activities. The carrying value of long-lived assets held in the Republic of Korea was $1,012,291 as of December 31, 2023. Significant Risks and Uncertainties There can be no assurance that the Company’s research and development will be successfully commercialized. Developing and commercializing a goods and services require significant time and capital and is subject to regulatory review and approval as well as competition from other AI technology companies. The Company operates in an environment of rapid change and is dependent upon the continued services of its employees and consultants and obtaining and protecting intellectual property. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk are primarily cash and cash equivalents. The Company maintains its cash and cash equivalent balances in the form of business checking accounts and money market accounts, the balances of which, at times, may exceed federally insured limits. Acquisitions Asset acquisitions are accounted for using the cost accumulation method while business combinations are accounted for at fair value. Determining whether the acquired set represents an asset acquisition, or a business combination requires quantitative and qualitative assessments subject to judgment. The fair values assigned to tangible and intangible assets acquired and liabilities assumed are based on management’s estimates and assumptions, as well as other information compiled by management, including projected financial information, effective income tax rates, present value discount factors, and long-term growth expectations. The Company utilizes third-party specialists to assist management with the identification and valuation of intangible assets using customary valuation procedures and techniques when required. Deferred Financing Costs The Company capitalizes costs that are directly associated with in-process equity financings until such financings are consummated, at which time such costs are recorded against the gross proceeds from the applicable financing. If a financing is abandoned, deferred financing costs are expensed immediately. As of December 31, 2023, the Company incurred $1,427,729 in deferred financing costs which are included within other assets in the accompanying consolidated balance sheet. Revenue Recognition and Accounts Receivables The Company accounts for revenue in accordance with Accounting Standards Codification (ASC) Topic 606, Revenue from Contracts with Customers (ASC 606) for all periods presented. The core principle of ASC 606 is to recognize revenue for the transfer of promised goods or services to customers in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. This principle is achieved by applying the following five-step approach: 1) Identification of the Contract, or Contracts, with a Customer. 2) Identification of the Performance Obligations in the Contract. 3) Determination of the Transaction Price. 4) Allocation of the Transaction Price to the Performance Obligations in the Contract. 5) Recognition of Revenue when, or as, Performance Obligations are Satisfied. Trade receivables represent amounts due from customers and are stated net of the allowance for doubtful accounts. The allowance for doubtful accounts is based on management’s assessment of the collectability of specific customer accounts, the aging of the accounts receivable, historical experience, and other currently available evidence. If there is a deterioration of a major customer’s credit worthiness or actual defaults are higher than the historical experience, management’s estimates of the recoverability of amounts due the Company could be adversely affected. Trade receivables of the Company as of December 31, 2023 and 2022 are net of allowance, amounting to $20,000 and $25,000, respectively. Impairment of Definite Lived Intangible Assets The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If the carrying amount of the asset exceeds its estimated undiscounted net cash flows, before interest, the Company will recognize an impairment loss equal to the difference between its carrying amount and its estimated fair value. If impairment is recognized, the reduced carrying amount of the asset will be accounted for as its new cost. Generally, fair values are estimated using discounted cash flow, replacement cost or market comparison analyses. The process of evaluating for impairment requires estimates as to future events and conditions, which are subject to varying market and economic factors. Therefore, it is reasonably possible that a change in estimate resulting from judgments as to future events could occur which would affect the recorded amounts of the asset. No impairment losses were recorded for the years ended December 31, 2023 and 2022. In-Process Research and Development The fair value of in-process research and development (“IPR&D”) acquired in an asset acquisition, that has been determined to have alternative future uses in accordance with ASC 350 Intangibles—Goodwill and Other, is capitalized as an indefinite-lived intangible asset until the completion of the related research and development activities in accordance with ASC 350 or the determination that impairment is necessary. If the related research and development is completed, the asset is reclassified as a definite-lived asset at the time of completion and is amortized over its estimated useful life as research and development costs in accordance with ASC 730-10-25-2(c) and ASC 350. Indefinite-lived IPR&D is not subject to amortization but is tested annually for impairment or more frequently if there are indicators of impairment. The Company also evaluates the remaining useful life of an intangible asset that is not being amortized each reporting period to determine whether events and circumstances continue to support an indefinite useful life. If an intangible asset that is not being amortized is subsequently determined to have a finite useful life, the asset shall be tested for impairment in accordance with paragraphs 350-30-35-18 through 35-19. That intangible asset shall then be amortized prospectively over its estimated remaining useful life and accounted for in the same manner as other intangible assets that are subject to amortization. The Company tests its indefinite-lived IPR&D annually for impairment during the fourth quarter. In testing indefinite-lived IPR&D for impairment, the Company has the option to first assess qualitative factors to determine whether the existence of events or circumstances would indicate that it is more likely than not that its fair value is less than its carrying amount, or the Company can perform a quantitative impairment analysis to determine the fair value of the indefinite-lived IPR&D without performing a qualitative assessment. Qualitative factors that the Company considers include significant negative industry or economic trends and significant changes or planned changes in the use of the assets. If the Company chooses to first assess qualitative factors and the Company determines that it is more likely than not that the fair value of the indefinite-lived IPR&D is less than its carrying amount, the Company would then determine the fair value of the indefinite-lived IPR&D. Under either approach, if the fair value of the indefinite-lived IPR&D is less than its carrying amount, an impairment charge is recognized in the consolidated statements of operations. During the year ended December 31, 2023, the Company did not recognize an impairment charge related to its indefinite-lived IPR&D. Research and Development Costs Costs incurred in connection with research and development activities are expensed as incurred. These costs include rent for facilities, hardware and software equipment costs, consulting fees for technical expertise, prototyping, and testing. Stock Compensation The Company recognizes stock-based compensation for stock-based awards (including stock options, restricted stock units, and restricted stock awards) in accordance with ASC No. 718, Compensation - Stock Compensation (“ASC 718”). Determining the appropriate fair value of stock-based awards requires numerous assumptions, some of which are highly complex and subjective. The Company accounts for forfeitures in the period in which they occur. Stock-based awards generally vest subject to the satisfaction of service requirements. For stock-based awards that vest subject to the satisfaction of service requirements or market and service conditions, stock-based compensation is measured based on the fair value of the award on the date of grant and is recognized as stock-based compensation on a straight-line basis over the requisite service period. For stock-based awards that have a performance component, stock-based compensation is measured based on the fair value on the grant date and is recognized over the requisite service period as achievement of the performance objective becomes probable. The Company estimates the fair value of its stock option and warrant awards on the grant date using the Black-Scholes option-pricing model. The Black-Scholes option-pricing model requires the use of judgments and assumptions, including fair value of the Company’s common stock, the option’s expected term, the expected price volatility of the underlying stock, risk free interest rates and the expected dividend yield. The fair value of the Company’s restricted stock awards is estimated on the date of grant based on the fair value of the Company’s common stock. The Black-Scholes model assumptions are further described below: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Common stock – the fair value of the Company’s common stock. </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Expected Term – The expected term of employee options with service-based vesting is determined using the “simplified” method, as prescribed in the U.S. Securities and Exchange Commission’s Staff Accounting Bulletin (“SAB”) No. 107, whereby the expected life equals the arithmetic average of the vesting term and the original contractual term of the option due to the Company’s lack of sufficient historical data. The expected term of nonemployee options is equal to the contractual term. </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Expected Volatility - The Company lacks its own historical stock data. Therefore, it estimates its expected stock volatility based primarily on the historical volatility of a publicly traded set of peer companies.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Risk-Free Interest Rate - The Company bases the risk-free interest rate on daily constant maturity treasury auction yields received as a proxy for the implied yield from strips.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Expected Dividend - The Company has never declared or paid any cash dividends on its common shares and does not plan to pay cash dividends in the foreseeable future, and, therefore, uses an expected dividend yield of zero in its valuation models.</td></tr> </table> Cash and Cash Equivalents The Company considers all highly liquid investments, readily convertible to cash, and which have a remaining maturity date of three months or less at the date of purchase, to be cash equivalents. Cash and cash equivalents are recorded at fair value and are held for the purpose of meeting short-term liquidity requirements, rather than for investment purposes. Capitalized internal-use software costs Pursuant to ASC 350-40, Internal-Use Software, the Company capitalizes development costs for internal use software projects once the preliminary project stage is completed, management commits to funding the project, and it is probable that the project will be completed, and the software will be used to perform the function intended. The Company ceases capitalization at such time as the computer software project is substantially complete and ready for its intended use. The determination that a software project is eligible for capitalization and the ongoing assessment of recoverability of capitalized software development costs requires considerable judgment by management with respect to certain external factors, including, but not limited to, estimated economic life and changes in software and hardware technologies. The Company capitalizes costs for internal-use software once project approval, funding, and feasibility are confirmed. These costs primarily consist of external consulting fees and direct labor costs. As of December 31, 2023, the cost of the Company’s capitalized internal-use software was $569,923, which is included within property and equipment, net in the accompanying consolidated balance sheet. No amortization expense has been incurred to date, as the internal-use software is not yet ready for its intended use. No impairment losses were recorded for the year ended December 31, 2023. Leases The Company has adopted an accounting policy which provides that leases with an initial term of 12 months or less will not be recognized as right-of-use assets and lease liabilities on its consolidated balance sheet. Lease payments associated with short-term leases are recognized as an expense on a straight-line basis over the lease term. The Company incurred $186,202 and $19,000 in short term lease expense for the years ended December 31, 2023 and 2022, respectively. Fair Value of Financial Instruments The Company accounts for financial instruments under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 820, Fair Value Measurements. This statement defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements, ASC 820 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three levels as follows: Level 1 - quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 - observable inputs other than Level 1, quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, and model-derived prices whose inputs are observable or whose significant value drivers are observable; and Level 3 - assets and liabilities whose significant value drivers are unobservable. Net Loss per Share Basic loss per share is computed by dividing the net loss available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted loss per share reflects the potential dilution, using the treasury stock method that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the loss of the Company. In computing diluted loss per share, the treasury stock method assumes that outstanding instruments are exercised/converted, and the proceeds are used to purchase common stock at the average market price during the period. Instruments may have a dilutive effect under the treasury stock method only when the average market price of the common stock during the period exceeds the exercise price/conversion rate of the instruments. The Company accounts for stock issued in spin-out transactions and consummations of mergers of entities under common control retrospectively. For diluted net loss per share, the weighted-average number of shares of common stock is the same for basic net loss per share due to the fact that when a net loss exists, potentially dilutive securities are not included in the calculation when the impact is anti-dilutive. <p id="xdx_897_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_z3gEGiwVORC1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The following common share equivalents are excluded from the calculation of weighted average common shares outstanding because their inclusion would have been anti-dilutive: SCHEDULE OF WEIGHTED AVERAGE COMMON SHARES OUTSTANDING <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <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_495_20230101__20231231_zPbrKuM3FVpk" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49B_20220101__20221231_z86dYFrPV1x6" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zQJjntRLSUB" 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">2,430,900</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">270,100</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zcRXurpOfdC3" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Warrants</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,039,885</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">297,110</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_zwaGdNC8etx6" 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">3,470,785</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">567,210</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_zmZ7VXLpac25" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Weighted average common shares</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">3,470,785</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">567,210</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Income Taxes The Company accounts for income taxes using the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the consolidated financial statements. Under this method, the Company determines deferred tax assets and liabilities on the basis of the differences between the financial statement and tax bases of assets and liabilities by using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. Deferred tax assets are recognized to the extent that these assets are more likely than not to be realized. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If the Company determines that it is able to realize its deferred tax assets in the future in excess of their net recorded amount, the Company records an adjustment to the deferred tax asset valuation allowance, which reduces the provision for income taxes. Tax benefits from uncertain tax positions are recognized only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the Company’s consolidated financial statements from such positions are measured based on the largest benefit that has a greater than 50% likelihood of being realized. Interest and penalties are recognized associated with tax matters as part of the income tax provision and include accrued interest and penalties with the related income tax liability on the Company’s consolidated balance sheets. Recently Adopted Accounting Standards In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification of Initiative (“ASU 2023-06”). ASU 2023-06 incorporates several disclosure and presentation requirements into the FASB’s Accounting Standards Codification (the “Codification”) currently residing in SEC Regulation S-X and Regulation S-K. The effective date for each amendment in the Codification will be the date on which the SEC’s removal of the related disclosure from Regulation S-X or Regulation S-K becomes effective. ASU 2023-06 is not expected to have a significant impact on the Company. Effective January 1, 2023, the Company elected to early adopt ASU 2020-06, “Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity.” This update simplifies the accounting for convertible instruments by removing major separation models required under U.S. GAAP. The early adoption did not have a material impact on the Company’s consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments, which requires financial assets measured at amortized cost, including accounts receivables, be presented net of the amount expected to be collected. The measurement of all expected credit losses will be based on relevant information about the credit quality of customers, past events, including historical experience, and reasonable and supportable forecasts that affect the collectability of the reported amount. The Company adopted the guidance using a modified retrospective approach as of January 1, 2023 which resulted in no cumulative-effect adjustment to retained earnings. Recently Issued but Not Yet Adopted Accounting Pronouncements In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (ASU 2023-07), which requires disclosure of incremental segment information on an annual and interim basis. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024 on a retrospective basis. The Company is currently evaluating the effect of this pronouncement on its disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (ASU 2023-09), which expands the disclosures required for income taxes. This ASU is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The amendment should be applied on a prospective basis while retrospective application is permitted. The Company is currently evaluating the effect of this pronouncement on its disclosures.

Basis of Presentation and Consolidation The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The Company’s consolidated financial statements include the accounts of the Company and the accounts of the Company’s wholly-owned subsidiary. All significant intercompany balances and transactions have been eliminated in consolidation.

Use of Estimates The preparation of the accompanying consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions about future events. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities, and reported amounts of revenue and expenses. Actual results and outcomes could differ significantly from the Company’s estimates, judgments, and assumptions. Significant estimates in the financial statements include, but are not limited to, assumptions used to measure stock-based compensation, the valuation of patents received in the acquisition of an entity under common control, and the Company also performs impairment testing on certain assets such as the indefinite lived intangible assets. These estimates and assumptions are based on management’s best estimates and judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, which management believes to be reasonable under the circumstances. The Company adjusts such estimates and assumptions when facts and circumstances dictate. Changes in those estimates resulting from continuing changes in the economic environment will be reflected in the financial statements in future periods. As future events and their effects cannot be determined with precision, actual results could materially differ from those estimates and assumptions.

Segment and geographic information Operating segments are defined as components of an entity about which separate discrete financial information is available for evaluation by the chief operating decision maker (CODM), or decision-making group, in deciding how to allocate resources and in assessing performance. The CODM for the Company is the Chief Executive Officer. The Company views its operations as, and manages its business in, one operating segment. The Company has an office in the Republic of Korea dedicated to research and development activities. The carrying value of long-lived assets held in the Republic of Korea was $1,012,291 as of December 31, 2023.

1012291

Significant Risks and Uncertainties There can be no assurance that the Company’s research and development will be successfully commercialized. Developing and commercializing a goods and services require significant time and capital and is subject to regulatory review and approval as well as competition from other AI technology companies. The Company operates in an environment of rapid change and is dependent upon the continued services of its employees and consultants and obtaining and protecting intellectual property.

Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk are primarily cash and cash equivalents. The Company maintains its cash and cash equivalent balances in the form of business checking accounts and money market accounts, the balances of which, at times, may exceed federally insured limits.

Acquisitions Asset acquisitions are accounted for using the cost accumulation method while business combinations are accounted for at fair value. Determining whether the acquired set represents an asset acquisition, or a business combination requires quantitative and qualitative assessments subject to judgment. The fair values assigned to tangible and intangible assets acquired and liabilities assumed are based on management’s estimates and assumptions, as well as other information compiled by management, including projected financial information, effective income tax rates, present value discount factors, and long-term growth expectations. The Company utilizes third-party specialists to assist management with the identification and valuation of intangible assets using customary valuation procedures and techniques when required.

Deferred Financing Costs The Company capitalizes costs that are directly associated with in-process equity financings until such financings are consummated, at which time such costs are recorded against the gross proceeds from the applicable financing. If a financing is abandoned, deferred financing costs are expensed immediately. As of December 31, 2023, the Company incurred $1,427,729 in deferred financing costs which are included within other assets in the accompanying consolidated balance sheet.

1427729

Revenue Recognition and Accounts Receivables The Company accounts for revenue in accordance with Accounting Standards Codification (ASC) Topic 606, Revenue from Contracts with Customers (ASC 606) for all periods presented. The core principle of ASC 606 is to recognize revenue for the transfer of promised goods or services to customers in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. This principle is achieved by applying the following five-step approach: 1) Identification of the Contract, or Contracts, with a Customer. 2) Identification of the Performance Obligations in the Contract. 3) Determination of the Transaction Price. 4) Allocation of the Transaction Price to the Performance Obligations in the Contract. 5) Recognition of Revenue when, or as, Performance Obligations are Satisfied. Trade receivables represent amounts due from customers and are stated net of the allowance for doubtful accounts. The allowance for doubtful accounts is based on management’s assessment of the collectability of specific customer accounts, the aging of the accounts receivable, historical experience, and other currently available evidence. If there is a deterioration of a major customer’s credit worthiness or actual defaults are higher than the historical experience, management’s estimates of the recoverability of amounts due the Company could be adversely affected. Trade receivables of the Company as of December 31, 2023 and 2022 are net of allowance, amounting to $20,000 and $25,000, respectively.

20000

25000

Impairment of Definite Lived Intangible Assets The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If the carrying amount of the asset exceeds its estimated undiscounted net cash flows, before interest, the Company will recognize an impairment loss equal to the difference between its carrying amount and its estimated fair value. If impairment is recognized, the reduced carrying amount of the asset will be accounted for as its new cost. Generally, fair values are estimated using discounted cash flow, replacement cost or market comparison analyses. The process of evaluating for impairment requires estimates as to future events and conditions, which are subject to varying market and economic factors. Therefore, it is reasonably possible that a change in estimate resulting from judgments as to future events could occur which would affect the recorded amounts of the asset. No impairment losses were recorded for the years ended December 31, 2023 and 2022.

In-Process Research and Development The fair value of in-process research and development (“IPR&D”) acquired in an asset acquisition, that has been determined to have alternative future uses in accordance with ASC 350 Intangibles—Goodwill and Other, is capitalized as an indefinite-lived intangible asset until the completion of the related research and development activities in accordance with ASC 350 or the determination that impairment is necessary. If the related research and development is completed, the asset is reclassified as a definite-lived asset at the time of completion and is amortized over its estimated useful life as research and development costs in accordance with ASC 730-10-25-2(c) and ASC 350. Indefinite-lived IPR&D is not subject to amortization but is tested annually for impairment or more frequently if there are indicators of impairment. The Company also evaluates the remaining useful life of an intangible asset that is not being amortized each reporting period to determine whether events and circumstances continue to support an indefinite useful life. If an intangible asset that is not being amortized is subsequently determined to have a finite useful life, the asset shall be tested for impairment in accordance with paragraphs 350-30-35-18 through 35-19. That intangible asset shall then be amortized prospectively over its estimated remaining useful life and accounted for in the same manner as other intangible assets that are subject to amortization. The Company tests its indefinite-lived IPR&D annually for impairment during the fourth quarter. In testing indefinite-lived IPR&D for impairment, the Company has the option to first assess qualitative factors to determine whether the existence of events or circumstances would indicate that it is more likely than not that its fair value is less than its carrying amount, or the Company can perform a quantitative impairment analysis to determine the fair value of the indefinite-lived IPR&D without performing a qualitative assessment. Qualitative factors that the Company considers include significant negative industry or economic trends and significant changes or planned changes in the use of the assets. If the Company chooses to first assess qualitative factors and the Company determines that it is more likely than not that the fair value of the indefinite-lived IPR&D is less than its carrying amount, the Company would then determine the fair value of the indefinite-lived IPR&D. Under either approach, if the fair value of the indefinite-lived IPR&D is less than its carrying amount, an impairment charge is recognized in the consolidated statements of operations. During the year ended December 31, 2023, the Company did not recognize an impairment charge related to its indefinite-lived IPR&D.

Research and Development Costs Costs incurred in connection with research and development activities are expensed as incurred. These costs include rent for facilities, hardware and software equipment costs, consulting fees for technical expertise, prototyping, and testing.

Stock Compensation The Company recognizes stock-based compensation for stock-based awards (including stock options, restricted stock units, and restricted stock awards) in accordance with ASC No. 718, Compensation - Stock Compensation (“ASC 718”). Determining the appropriate fair value of stock-based awards requires numerous assumptions, some of which are highly complex and subjective. The Company accounts for forfeitures in the period in which they occur. Stock-based awards generally vest subject to the satisfaction of service requirements. For stock-based awards that vest subject to the satisfaction of service requirements or market and service conditions, stock-based compensation is measured based on the fair value of the award on the date of grant and is recognized as stock-based compensation on a straight-line basis over the requisite service period. For stock-based awards that have a performance component, stock-based compensation is measured based on the fair value on the grant date and is recognized over the requisite service period as achievement of the performance objective becomes probable. The Company estimates the fair value of its stock option and warrant awards on the grant date using the Black-Scholes option-pricing model. The Black-Scholes option-pricing model requires the use of judgments and assumptions, including fair value of the Company’s common stock, the option’s expected term, the expected price volatility of the underlying stock, risk free interest rates and the expected dividend yield. The fair value of the Company’s restricted stock awards is estimated on the date of grant based on the fair value of the Company’s common stock. The Black-Scholes model assumptions are further described below: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Common stock – the fair value of the Company’s common stock. </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Expected Term – The expected term of employee options with service-based vesting is determined using the “simplified” method, as prescribed in the U.S. Securities and Exchange Commission’s Staff Accounting Bulletin (“SAB”) No. 107, whereby the expected life equals the arithmetic average of the vesting term and the original contractual term of the option due to the Company’s lack of sufficient historical data. The expected term of nonemployee options is equal to the contractual term. </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Expected Volatility - The Company lacks its own historical stock data. Therefore, it estimates its expected stock volatility based primarily on the historical volatility of a publicly traded set of peer companies.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Risk-Free Interest Rate - The Company bases the risk-free interest rate on daily constant maturity treasury auction yields received as a proxy for the implied yield from strips.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Expected Dividend - The Company has never declared or paid any cash dividends on its common shares and does not plan to pay cash dividends in the foreseeable future, and, therefore, uses an expected dividend yield of zero in its valuation models.</td></tr> </table>

Cash and Cash Equivalents The Company considers all highly liquid investments, readily convertible to cash, and which have a remaining maturity date of three months or less at the date of purchase, to be cash equivalents. Cash and cash equivalents are recorded at fair value and are held for the purpose of meeting short-term liquidity requirements, rather than for investment purposes.

Capitalized internal-use software costs Pursuant to ASC 350-40, Internal-Use Software, the Company capitalizes development costs for internal use software projects once the preliminary project stage is completed, management commits to funding the project, and it is probable that the project will be completed, and the software will be used to perform the function intended. The Company ceases capitalization at such time as the computer software project is substantially complete and ready for its intended use. The determination that a software project is eligible for capitalization and the ongoing assessment of recoverability of capitalized software development costs requires considerable judgment by management with respect to certain external factors, including, but not limited to, estimated economic life and changes in software and hardware technologies. The Company capitalizes costs for internal-use software once project approval, funding, and feasibility are confirmed. These costs primarily consist of external consulting fees and direct labor costs. As of December 31, 2023, the cost of the Company’s capitalized internal-use software was $569,923, which is included within property and equipment, net in the accompanying consolidated balance sheet. No amortization expense has been incurred to date, as the internal-use software is not yet ready for its intended use. No impairment losses were recorded for the year ended December 31, 2023.

569923

Leases The Company has adopted an accounting policy which provides that leases with an initial term of 12 months or less will not be recognized as right-of-use assets and lease liabilities on its consolidated balance sheet. Lease payments associated with short-term leases are recognized as an expense on a straight-line basis over the lease term. The Company incurred $186,202 and $19,000 in short term lease expense for the years ended December 31, 2023 and 2022, respectively.

186202

19000

Fair Value of Financial Instruments The Company accounts for financial instruments under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 820, Fair Value Measurements. This statement defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements, ASC 820 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three levels as follows: Level 1 - quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 - observable inputs other than Level 1, quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, and model-derived prices whose inputs are observable or whose significant value drivers are observable; and Level 3 - assets and liabilities whose significant value drivers are unobservable.

Net Loss per Share Basic loss per share is computed by dividing the net loss available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted loss per share reflects the potential dilution, using the treasury stock method that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the loss of the Company. In computing diluted loss per share, the treasury stock method assumes that outstanding instruments are exercised/converted, and the proceeds are used to purchase common stock at the average market price during the period. Instruments may have a dilutive effect under the treasury stock method only when the average market price of the common stock during the period exceeds the exercise price/conversion rate of the instruments. The Company accounts for stock issued in spin-out transactions and consummations of mergers of entities under common control retrospectively. For diluted net loss per share, the weighted-average number of shares of common stock is the same for basic net loss per share due to the fact that when a net loss exists, potentially dilutive securities are not included in the calculation when the impact is anti-dilutive. <p id="xdx_897_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_z3gEGiwVORC1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The following common share equivalents are excluded from the calculation of weighted average common shares outstanding because their inclusion would have been anti-dilutive: SCHEDULE OF WEIGHTED AVERAGE COMMON SHARES OUTSTANDING <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <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_495_20230101__20231231_zPbrKuM3FVpk" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49B_20220101__20221231_z86dYFrPV1x6" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zQJjntRLSUB" 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">2,430,900</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">270,100</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zcRXurpOfdC3" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Warrants</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,039,885</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">297,110</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_zwaGdNC8etx6" 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">3,470,785</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">567,210</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_zmZ7VXLpac25" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Weighted average common shares</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">3,470,785</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">567,210</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

<p id="xdx_897_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_z3gEGiwVORC1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The following common share equivalents are excluded from the calculation of weighted average common shares outstanding because their inclusion would have been anti-dilutive: SCHEDULE OF WEIGHTED AVERAGE COMMON SHARES OUTSTANDING <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <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_495_20230101__20231231_zPbrKuM3FVpk" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49B_20220101__20221231_z86dYFrPV1x6" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zQJjntRLSUB" 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">2,430,900</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">270,100</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zcRXurpOfdC3" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Warrants</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,039,885</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">297,110</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_zwaGdNC8etx6" 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">3,470,785</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">567,210</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_zmZ7VXLpac25" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Weighted average common shares</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">3,470,785</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">567,210</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

2430900

270100

1039885

297110

3470785

567210

3470785

567210

Income Taxes The Company accounts for income taxes using the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the consolidated financial statements. Under this method, the Company determines deferred tax assets and liabilities on the basis of the differences between the financial statement and tax bases of assets and liabilities by using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. Deferred tax assets are recognized to the extent that these assets are more likely than not to be realized. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If the Company determines that it is able to realize its deferred tax assets in the future in excess of their net recorded amount, the Company records an adjustment to the deferred tax asset valuation allowance, which reduces the provision for income taxes. Tax benefits from uncertain tax positions are recognized only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the Company’s consolidated financial statements from such positions are measured based on the largest benefit that has a greater than 50% likelihood of being realized. Interest and penalties are recognized associated with tax matters as part of the income tax provision and include accrued interest and penalties with the related income tax liability on the Company’s consolidated balance sheets.

Recently Adopted Accounting Standards In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification of Initiative (“ASU 2023-06”). ASU 2023-06 incorporates several disclosure and presentation requirements into the FASB’s Accounting Standards Codification (the “Codification”) currently residing in SEC Regulation S-X and Regulation S-K. The effective date for each amendment in the Codification will be the date on which the SEC’s removal of the related disclosure from Regulation S-X or Regulation S-K becomes effective. ASU 2023-06 is not expected to have a significant impact on the Company. Effective January 1, 2023, the Company elected to early adopt ASU 2020-06, “Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity.” This update simplifies the accounting for convertible instruments by removing major separation models required under U.S. GAAP. The early adoption did not have a material impact on the Company’s consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments, which requires financial assets measured at amortized cost, including accounts receivables, be presented net of the amount expected to be collected. The measurement of all expected credit losses will be based on relevant information about the credit quality of customers, past events, including historical experience, and reasonable and supportable forecasts that affect the collectability of the reported amount. The Company adopted the guidance using a modified retrospective approach as of January 1, 2023 which resulted in no cumulative-effect adjustment to retained earnings.

Recently Issued but Not Yet Adopted Accounting Pronouncements In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (ASU 2023-07), which requires disclosure of incremental segment information on an annual and interim basis. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024 on a retrospective basis. The Company is currently evaluating the effect of this pronouncement on its disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (ASU 2023-09), which expands the disclosures required for income taxes. This ASU is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The amendment should be applied on a prospective basis while retrospective application is permitted. The Company is currently evaluating the effect of this pronouncement on its disclosures.

NOTE C - ACQUISITION ACQUISITIONS On <span id="xdx_907_eus-gaap--BusinessAcquisitionDateOfAcquisitionAgreement1_dd_c20230503__20230503__us-gaap--TypeOfArrangementAxis__custom--AssetPurchaseAgreementMember__us-gaap--BusinessAcquisitionAxis__custom--DMLabCoLTDMember_z947kTmEkqy4">May 3, 2023, in connection with the development the Company’s core technology, the Company entered into an Asset Purchase Agreement with DM Lab Co., LTD (“DM Lab”), to acquire certain assets and assume certain liabilities in exchange for <span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_pid_c20230503__20230503__us-gaap--TypeOfArrangementAxis__custom--AssetPurchaseAgreementMember__us-gaap--BusinessAcquisitionAxis__custom--DMLabCoLTDMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zKtAnS88HQd8">4,325,043 common shares with a fair value of $<span id="xdx_905_eus-gaap--StockIssuedDuringPeriodValueAcquisitions_c20230503__20230503__us-gaap--TypeOfArrangementAxis__custom--AssetPurchaseAgreementMember__us-gaap--BusinessAcquisitionAxis__custom--DMLabCoLTDMember_ztfGI0dgvZf">16,012,750 and $<span id="xdx_904_eus-gaap--BusinessCombinationConsiderationTransferred1_c20230503__20230503__us-gaap--TypeOfArrangementAxis__custom--AssetPurchaseAgreementMember__us-gaap--BusinessAcquisitionAxis__custom--DMLabCoLTDMember_zCOd17Qi1NCh">257,112 in cash consideration including $<span id="xdx_903_eus-gaap--BusinessAcquisitionCostOfAcquiredEntityTransactionCosts_iI_c20230503__us-gaap--TypeOfArrangementAxis__custom--AssetPurchaseAgreementMember__us-gaap--BusinessAcquisitionAxis__custom--DMLabCoLTDMember_za0dFY98wm97">107,112 in transaction-related costs. The Company accounted for the transaction with DM Lab as an asset acquisition as the acquired set passed the screentest and as such did not meet the criteria to be considered a business according to ASC 805, Business Combinations. The total consideration paid including transaction-related costs was allocated to identifiable intangible and tangible assets acquired based on their acquisition date estimated fair values. The largest asset acquired was the in-process research and development intangible asset which the Company determined had alternative future uses and capitalized as an indefinite-lived intangible asset until the completion of the related research and development activities in accordance with ASC 350 or the determination that impairment is necessary. The in-process research and development intangible asset was valued using the multi-period excess earnings method which requires several judgements and assumptions to determine the fair value of intangible assets, including growth rates, EBITDA margins, and discount rates, among others. This nonrecurring fair value measurement is a Level 3 measurement within the fair value hierarchy. The following table summarizes the fair value of consideration transferred and its allocation to the assets acquired and liabilities assumed at their acquisition date fair values. <p id="xdx_890_eus-gaap--ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_zaZapfrIirbk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; background-color: white"> SCHEDULE OF CONSIDERATION TRANSFERRED FOR ALLOCATION TO ASSETS ACQUIRED AND LIABILITIES ASSUMED <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Assets Acquired</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_495_20230503__us-gaap--BusinessAcquisitionAxis__custom--DMLabCoLTDMember_zTZkdeZXajx8" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Amount Recognized</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsOther_iI_maBCRIAzMP7_zI88qtTUEzrh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left">In-process research and development intangible asset</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">17,000,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_iI_maBCRIAzMP7_z6yY5veDXlZ7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Property and equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">721,916</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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_iNI_di_msBCRIAzMP7_zQDwJRSZkute" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accounts payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(57,700</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther_iNI_di_msBCRIAzMP7_zut1nNl3yaFa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(249,779</td><td style="text-align: left">)</td></tr> <tr id="xdx_408_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesShortTermDebt_iNI_di_msBCRIAzMP7_zeFAbAZUyNHg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Short-term debt</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,144,575</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iTI_mtBCRIAzMP7_ziUjpn0jYEs9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total assets acquired and liabilities assumed</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">16,269,862</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold"> </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--BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet_iI_zDuC8dqEFMs8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total consideration</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">16,269,862</td><td style="text-align: left"> </td></tr> </table>

2023-05-03

4325043

16012750

257112

107112

<p id="xdx_890_eus-gaap--ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_zaZapfrIirbk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; background-color: white"> SCHEDULE OF CONSIDERATION TRANSFERRED FOR ALLOCATION TO ASSETS ACQUIRED AND LIABILITIES ASSUMED <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Assets Acquired</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_495_20230503__us-gaap--BusinessAcquisitionAxis__custom--DMLabCoLTDMember_zTZkdeZXajx8" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Amount Recognized</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsOther_iI_maBCRIAzMP7_zI88qtTUEzrh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left">In-process research and development intangible asset</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">17,000,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_iI_maBCRIAzMP7_z6yY5veDXlZ7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Property and equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">721,916</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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_iNI_di_msBCRIAzMP7_zQDwJRSZkute" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accounts payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(57,700</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther_iNI_di_msBCRIAzMP7_zut1nNl3yaFa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(249,779</td><td style="text-align: left">)</td></tr> <tr id="xdx_408_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesShortTermDebt_iNI_di_msBCRIAzMP7_zeFAbAZUyNHg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Short-term debt</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,144,575</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iTI_mtBCRIAzMP7_ziUjpn0jYEs9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total assets acquired and liabilities assumed</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">16,269,862</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold"> </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--BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet_iI_zDuC8dqEFMs8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total consideration</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">16,269,862</td><td style="text-align: left"> </td></tr> </table>

17000000

721916

57700

249779

1144575

16269862

NOTE D – PREPAID EXPENSES AND OTHER CURRENT ASSETS Prepaid expenses and other current assets consisted of the following at December 31, 2023 and 2022: SCHEDULE OF PREPAID EXPENSES AND OTHER CURRENT ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%"> <tr style="display: none; vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_497_20231231_zb6jRurJbyS3" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_498_20221231_zjHVL0rVAXag" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_40F_eus-gaap--SecurityDeposit_iI_zYEaoxmIJn2i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Security deposits</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">71,300</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--PrepaidTaxes_iI_zxyF5s4KLuGj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prepaid VAT</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,821</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_ecustom--PrepaidLegalFees_iI_zcIP1FfwH4M1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Prepaid legal fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">43,713</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_408_eus-gaap--OtherPrepaidExpenseCurrent_iI_z6HbDiWgf7Xk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Prepaid other</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">78,460</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">250</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iTI_zUzckBD51f6a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">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">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">201,293</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">250</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

Prepaid expenses and other current assets consisted of the following at December 31, 2023 and 2022: SCHEDULE OF PREPAID EXPENSES AND OTHER CURRENT ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%"> <tr style="display: none; vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_497_20231231_zb6jRurJbyS3" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_498_20221231_zjHVL0rVAXag" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_40F_eus-gaap--SecurityDeposit_iI_zYEaoxmIJn2i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Security deposits</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">71,300</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--PrepaidTaxes_iI_zxyF5s4KLuGj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prepaid VAT</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,821</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_ecustom--PrepaidLegalFees_iI_zcIP1FfwH4M1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Prepaid legal fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">43,713</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_408_eus-gaap--OtherPrepaidExpenseCurrent_iI_z6HbDiWgf7Xk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Prepaid other</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">78,460</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">250</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iTI_zUzckBD51f6a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">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">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">201,293</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">250</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

71300

7821

43713

78460

250

201293

250

NOTE E – PROPERTY AND EQUIPMENT, NET Property and equipment include equipment, furniture, and capitalized software. Furniture and equipment are depreciated using the straight-line method over estimated useful lives of <span id="xdx_907_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dt_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FurnitureAndEquipmentMember_zpZ7SJhMpzCd" title="Property and equipment useful life">three years. Capitalized software costs will be amortized straight-line over an estimated useful life ranging from <span id="xdx_90F_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--CapitalizedSoftwareMember__srt--RangeAxis__srt--MinimumMember_z2vTJ0NPljKl" title="Property and equipment useful life">5 to <span id="xdx_903_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--CapitalizedSoftwareMember__srt--RangeAxis__srt--MaximumMember_zyOFFPaT5nnl" title="Property and equipment useful life">10 years. There was no property and equipment at December 31, 2022. Property and equipment consisted of the following at December 31, 2023: SCHEDULE PROPERTY AND EQUIPMENT NET <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_498_20231231_zcVWWOQb47b2" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_zp1vs17Qyl2e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%">Equipment</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">426,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_z0eR5gYscuBd" style="vertical-align: bottom; background-color: White"> <td>Furniture</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">346,591</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--CapitalizedSoftwareMember_z5KDmTjrIxA5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Capitalized software</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">569,923</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--PropertyPlantAndEquipmentGross_iI_maPPAENz8P8_zMlEQ1GwKJfh" style="vertical-align: bottom; background-color: White"> <td>Total</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,342,514</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_msPPAENz8P8_z0AfpAqzMDfe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Accumulated depreciation and amortization</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(539,957</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPAENz8P8_zySvQOHG5Ke3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Property and equipment, net of accumulated depreciation and amortization</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">802,557</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> For the year ended December 31, 2023, depreciation and amortization of property and equipment totaled $539,957. There was no depreciation and amortization during the year ended December 31, 2022.

P3Y

P5Y

P10Y

Property and equipment consisted of the following at December 31, 2023: SCHEDULE PROPERTY AND EQUIPMENT NET <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_498_20231231_zcVWWOQb47b2" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_zp1vs17Qyl2e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%">Equipment</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">426,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_z0eR5gYscuBd" style="vertical-align: bottom; background-color: White"> <td>Furniture</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">346,591</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--CapitalizedSoftwareMember_z5KDmTjrIxA5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Capitalized software</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">569,923</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--PropertyPlantAndEquipmentGross_iI_maPPAENz8P8_zMlEQ1GwKJfh" style="vertical-align: bottom; background-color: White"> <td>Total</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,342,514</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_msPPAENz8P8_z0AfpAqzMDfe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Accumulated depreciation and amortization</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(539,957</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPAENz8P8_zySvQOHG5Ke3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Property and equipment, net of accumulated depreciation and amortization</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">802,557</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

426000

346591

569923

1342514

539957

802557

539957

NOTE F – INTANGIBLE ASSETS The following table summarizes intangible assets with a finite useful life included on the consolidated balance sheet as of December 31, 2023 and 2022: SCHEDULE OF INTANGIBLE ASSETS <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: 1.5pt"> </td> <td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Gross</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Accumulated Amortization</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Net</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Amortizing intangible assets:</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 52%; text-align: left">Patent portfolio</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_c20231231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_z9mn09t9SwR2" style="width: 12%; text-align: right" title="Finite-lived intangible assets, gross">1,259,863</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_c20231231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_zr7cerPDqge3" style="width: 12%; text-align: right" title="Finite-lived intangible assets, accumulated amortization">(377,716</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--FiniteLivedIntangibleAssetsNet_iI_c20231231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_zxzv6JDZy834" style="width: 12%; text-align: right" title="Finite-lived intangible assets, net">882,147</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></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Indefinite-lived intangible 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><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-left: 10pt; text-align: left; padding-bottom: 1.5pt">In-process research and development</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_984_ecustom--IndefiniteLivedIntangibleAssetsGross_iI_c20231231__us-gaap--IndefiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--InProcessResearchAndDevelopmentMember_zx5lHQQMYxu4" style="border-bottom: Black 1.5pt solid; text-align: right" title="Indefinite-lived intangible assets, gross">17,000,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_983_ecustom--IndefiniteLivedIntangibleAssetsAccumulatedAmortization_iI_c20231231__us-gaap--IndefiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--InProcessResearchAndDevelopmentMember_zsiKzprcPAI9" style="border-bottom: Black 1.5pt solid; text-align: right" title="Indefinite-lived intangible assets, accumulated amortization">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--IndefiniteLivedIntangibleAssetsExcludingGoodwill_iI_c20231231__us-gaap--IndefiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--InProcessResearchAndDevelopmentMember_zEYTNArDJiYb" style="border-bottom: Black 1.5pt solid; text-align: right" title="Indefinite-lived intangible assets, net">17,000,000</td><td style="padding-bottom: 1.5pt; 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--IntangibleAssetsGrossExcludingGoodwill_iI_c20231231_z3lG5JtBtVEf" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangible assets gross">18,259,863</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">$</td><td id="xdx_98D_ecustom--IntangibleAssetsAccumulatedAmortization_iI_c20231231_z7EloGvyfSMc" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangible assets, accumulated amortization">(377,716</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--IntangibleAssetsNetExcludingGoodwill_iI_c20231231_zGgYlKPlamH7" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangible assets, net">17,882,147</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <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: 1.5pt"> </td> <td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Gross</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Accumulated Amortization</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Net</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Amortizing intangible assets:</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: right"> </td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: right"> </td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: right"> </td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 52%; text-align: left; padding-bottom: 1.5pt">Patent portfolio</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_c20221231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_z191lGEpHWj4" style="border-bottom: Black 1.5pt solid; width: 12%; text-align: right" title="Finite-lived intangible assets, gross">880,000</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_c20221231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_zSIJJGwNxYJ3" style="border-bottom: Black 1.5pt solid; width: 12%; text-align: right" title="Finite-lived intangible assets, accumulated amortization">(279,683</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_c20221231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_zkFqoyOuzdrl" style="border-bottom: Black 1.5pt solid; width: 12%; text-align: right" title="Finite-lived intangible assets, net">600,317</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_eus-gaap--IntangibleAssetsGrossExcludingGoodwill_iI_c20221231_zlzRSi5PRixi" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangible assets gross">880,000</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">$</td><td id="xdx_988_ecustom--IntangibleAssetsAccumulatedAmortization_iI_c20221231_z1eFJGXHLKpi" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangible assets, accumulated amortization">(279,683</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--IntangibleAssetsNetExcludingGoodwill_iI_c20221231_z2KBN4cjCgFf" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangible assets, net">600,317</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Total amortization expenses were $98,033 and $76,928 for the years ended December 31, 2023 and 2022, respectively. Future amortization of intangible assets, net are estimated to be as follows: SCHEDULE OF FUTURE AMORTIZATION EXPENSE OF INTANGIBLE ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td> </td> <td colspan="2" id="xdx_492_20231231_zAZJOGJRB6l"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Years Ending December 31:</td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_406_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_iI_maFLIANz9cN_zptRUUzu8kLe" style="vertical-align: bottom; background-color: White"> <td style="width: 78%; text-align: left">2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right">140,243</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_iI_maFLIANz9cN_z2N7ZkWRD7q4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">140,243</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_iI_maFLIANz9cN_zN9DQUSjkLHh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">140,243</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_iI_maFLIANz9cN_z4FGDNrCrK31" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">140,243</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_iI_maFLIANz9cN_zJUD9aqJLSNc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">140,243</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive_iI_maFLIANz9cN_zOMGqK6DEAWi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Thereafter</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">180,932</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_mtFLIANz9cN_zz566rVTEIxl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; 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">882,147</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

The following table summarizes intangible assets with a finite useful life included on the consolidated balance sheet as of December 31, 2023 and 2022: SCHEDULE OF INTANGIBLE ASSETS <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: 1.5pt"> </td> <td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Gross</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Accumulated Amortization</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Net</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Amortizing intangible assets:</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 52%; text-align: left">Patent portfolio</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_c20231231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_z9mn09t9SwR2" style="width: 12%; text-align: right" title="Finite-lived intangible assets, gross">1,259,863</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_c20231231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_zr7cerPDqge3" style="width: 12%; text-align: right" title="Finite-lived intangible assets, accumulated amortization">(377,716</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--FiniteLivedIntangibleAssetsNet_iI_c20231231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_zxzv6JDZy834" style="width: 12%; text-align: right" title="Finite-lived intangible assets, net">882,147</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></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Indefinite-lived intangible 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><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-left: 10pt; text-align: left; padding-bottom: 1.5pt">In-process research and development</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_984_ecustom--IndefiniteLivedIntangibleAssetsGross_iI_c20231231__us-gaap--IndefiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--InProcessResearchAndDevelopmentMember_zx5lHQQMYxu4" style="border-bottom: Black 1.5pt solid; text-align: right" title="Indefinite-lived intangible assets, gross">17,000,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_983_ecustom--IndefiniteLivedIntangibleAssetsAccumulatedAmortization_iI_c20231231__us-gaap--IndefiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--InProcessResearchAndDevelopmentMember_zsiKzprcPAI9" style="border-bottom: Black 1.5pt solid; text-align: right" title="Indefinite-lived intangible assets, accumulated amortization">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--IndefiniteLivedIntangibleAssetsExcludingGoodwill_iI_c20231231__us-gaap--IndefiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--InProcessResearchAndDevelopmentMember_zEYTNArDJiYb" style="border-bottom: Black 1.5pt solid; text-align: right" title="Indefinite-lived intangible assets, net">17,000,000</td><td style="padding-bottom: 1.5pt; 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--IntangibleAssetsGrossExcludingGoodwill_iI_c20231231_z3lG5JtBtVEf" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangible assets gross">18,259,863</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">$</td><td id="xdx_98D_ecustom--IntangibleAssetsAccumulatedAmortization_iI_c20231231_z7EloGvyfSMc" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangible assets, accumulated amortization">(377,716</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--IntangibleAssetsNetExcludingGoodwill_iI_c20231231_zGgYlKPlamH7" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangible assets, net">17,882,147</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <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: 1.5pt"> </td> <td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Gross</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Accumulated Amortization</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Net</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Amortizing intangible assets:</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: right"> </td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: right"> </td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: right"> </td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 52%; text-align: left; padding-bottom: 1.5pt">Patent portfolio</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_c20221231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_z191lGEpHWj4" style="border-bottom: Black 1.5pt solid; width: 12%; text-align: right" title="Finite-lived intangible assets, gross">880,000</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_c20221231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_zSIJJGwNxYJ3" style="border-bottom: Black 1.5pt solid; width: 12%; text-align: right" title="Finite-lived intangible assets, accumulated amortization">(279,683</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_c20221231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_zkFqoyOuzdrl" style="border-bottom: Black 1.5pt solid; width: 12%; text-align: right" title="Finite-lived intangible assets, net">600,317</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_eus-gaap--IntangibleAssetsGrossExcludingGoodwill_iI_c20221231_zlzRSi5PRixi" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangible assets gross">880,000</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">$</td><td id="xdx_988_ecustom--IntangibleAssetsAccumulatedAmortization_iI_c20221231_z1eFJGXHLKpi" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangible assets, accumulated amortization">(279,683</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--IntangibleAssetsNetExcludingGoodwill_iI_c20221231_z2KBN4cjCgFf" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangible assets, net">600,317</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1259863

-377716

882147

17000000

18259863

-377716

17882147

880000

-279683

600317

880000

-279683

600317

98033

76928

Future amortization of intangible assets, net are estimated to be as follows: SCHEDULE OF FUTURE AMORTIZATION EXPENSE OF INTANGIBLE ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td> </td> <td colspan="2" id="xdx_492_20231231_zAZJOGJRB6l"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Years Ending December 31:</td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_406_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_iI_maFLIANz9cN_zptRUUzu8kLe" style="vertical-align: bottom; background-color: White"> <td style="width: 78%; text-align: left">2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right">140,243</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_iI_maFLIANz9cN_z2N7ZkWRD7q4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">140,243</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_iI_maFLIANz9cN_zN9DQUSjkLHh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">140,243</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_iI_maFLIANz9cN_z4FGDNrCrK31" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">140,243</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_iI_maFLIANz9cN_zJUD9aqJLSNc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">140,243</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive_iI_maFLIANz9cN_zOMGqK6DEAWi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Thereafter</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">180,932</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_mtFLIANz9cN_zz566rVTEIxl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; 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">882,147</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

140243

180932

882147

NOTE G – ACCRUED EXPENSES Accrued expenses consisted of the following at December 31, 2023: SCHEDULE OF ACCRUED EXPENSES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_498_20231231_zVUxd13xbjIc" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_404_eus-gaap--AccruedProfessionalFeesCurrent_iI_maALCzzUa_zRWgMlrPeoTa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left">Accrued professional fees</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">245,751</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--EmployeeRelatedLiabilitiesCurrent_iI_maALCzzUa_zdnbJEgcuJpe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued compensation and related expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,146,435</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--AccruedLiabilitiesRelatedPartyCurrent_iI_maALCzzUa_zOMnPatfvhX3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Due to related party</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">178,723</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OtherAccruedLiabilitiesCurrent_iI_maALCzzUa_zuApPY3DgEBa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Accrued other</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">66,139</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AccruedLiabilitiesCurrent_iTI_mtALCzzUa_zmSl6qur83E7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Accrued expenses</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,637,048</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

Accrued expenses consisted of the following at December 31, 2023: SCHEDULE OF ACCRUED EXPENSES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_498_20231231_zVUxd13xbjIc" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_404_eus-gaap--AccruedProfessionalFeesCurrent_iI_maALCzzUa_zRWgMlrPeoTa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left">Accrued professional fees</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">245,751</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--EmployeeRelatedLiabilitiesCurrent_iI_maALCzzUa_zdnbJEgcuJpe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued compensation and related expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,146,435</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--AccruedLiabilitiesRelatedPartyCurrent_iI_maALCzzUa_zOMnPatfvhX3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Due to related party</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">178,723</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OtherAccruedLiabilitiesCurrent_iI_maALCzzUa_zuApPY3DgEBa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Accrued other</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">66,139</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AccruedLiabilitiesCurrent_iTI_mtALCzzUa_zmSl6qur83E7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Accrued expenses</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,637,048</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

245751

1146435

178723

66139

1637048

NOTE H — SHORT-TERM DEBT RELATED TO ACQUISITION OF DM LAB As of December 31, 2023, the Company has four loans outstanding that were assumed in the DM Lab transaction, totaling $891,974, a decrease of $252,601 from the acquisition date due to the amount converted to equity on May 25, 2023. The loans carry varying interest rates ranging from <span id="xdx_90E_eus-gaap--DebtInstrumentInterestRateDuringPeriod_dp_c20230101__20231231__srt--RangeAxis__srt--MinimumMember__us-gaap--BusinessAcquisitionAxis__custom--DMLabMember_zCrIyN9xvC32" title="Interest rate">4.667% to <span id="xdx_90E_eus-gaap--DebtInstrumentInterestRateDuringPeriod_dp_c20230101__20231231__us-gaap--BusinessAcquisitionAxis__custom--DMLabMember__srt--RangeAxis__srt--MaximumMember_zm2goYsIWlV4" title="Interest rate">6.69%. During the years ended December 31, 2023 and 2022, the Company incurred interest expense of $31,217 and $0, respectively, which is included in interest expense in the consolidated statement of operations. All loans are due within 12 months from the balance sheet date and have no optional or mandatory redemption or conversion features. These obligations have been classified as current liabilities on the consolidated balance sheet and the fair value of the loans approximates the carrying amount due to their short-term nature. Additionally, there are no associated restrictive covenants, third-party guarantees, or pledged collateral. As of the reporting date, the Company is in default as the Company failed to make payments due upon maturity. In February 2024, the Company obtained a waiver to extend the due dates of $668,674 of its short-term debt to January 2025. Such amounts are classified as long-term on the consolidated balance sheet.

891974

252601

0.04667

0.0669

31217

668674

January 2025

NOTE I — CONVERTIBLE NOTES During the year ended December 31, 2023, the Company issued and sold convertible notes with an aggregate original principal amount of $3,075,000. The convertible notes bear interest at an annual rate of 10% and mature in 6 months from the issuance of the applicable note. The notes are convertible into the common stock of the Company at the option of the holder at a conversion price of $3.70 per share. During the year ended December 31, 2023, all of the convertible notes had been converted into BEN common stock.

3075000

0.10

mature in 6 months from the issuance of the applicable note.

3.70

NOTE J - STOCKHOLDERS’ EQUITY STOCKHOLDERS’ EQUITY As of and for the years ended December 31, 2023 and 2022, the Company had authorized 10,000,000 shares $0.0001 par value preferred stock, none of which to date have been designated nor any issued. As of and for the years ended December 31, 2023 and 2022, the Company had authorized 100,000,000 shares $0.0001 par value common stock, which as of December 31, 2023 and 2022 the Company had 23,270,404 and 17,057,085 shares of common stock outstanding, respectively. Amendment to Articles of Incorporation In March 2023, the Company amended its Articles of Incorporation. Prior to this amendment, the Company had two classes of common shares outstanding. The Class A shares of common stock and the Class B shares of common stock. The only difference to the shares was that the Class A shares had the right to vote on all matters while the Class B shares could only vote on those matters required under the laws of the State of Wyoming. The March 2023 amendment to its Articles of Incorporation removed the two classes and combined all shares of common stock as one class. The Company treated this change as if it occurred at the inception of the Company and all amounts and shares included herein these financial statements are shown only as one class of common stock. 2023 Activity During the year ended December 31, 2023, the Company issued 4,325,043 shares in connection with the DM Lab transaction (see Note C) and sold 616,666 shares of common stock at $8.11 per share for an aggregate purchase price of $5,000,000 as working capital financing. During the year ended December 31, 2023, the Company also issued compensatory options and warrants to acquire a total of 2,239,129 shares and 810,300 shares of its common stock, respectively (see Note K). Additionally, the Company received proceeds of $75,000 from the exercise of options and warrants to acquire 202,575 shares of common stock, of which $40,000 were from the settlement of outstanding accounts payable to the warrant holder. The Company was able to satisfy $432,963 of accounts payable and loans payable through the issuance of 238,488 shares of common stock. The Company also issued 830,547 shares of common stock upon the conversion of convertible notes (Note I). 2022 Activity In the year ended December 31, 2022, the Company received proceeds of $35,000 from the exercise of options and warrants to acquire 94,535 shares of common stock of the Company. In the year ended December 31, 2022, the Company was able to satisfy $586,000 of accounts payable through the issuance of 656,613 shares of common stock. The Company recorded a gain on extinguishment of $548,563, which is included in other income on the consolidated statement of operations. In the year ended December 31, 2022, a previously issued warrant to acquire 270,100 shares of common stock was exercised with the exercise price paid in services rendered to the Company for $100,000 (see note below). Equity Compensation Plans In May 2021, the Company adopted the 2021 Incentive Stock Option Plan (“Option Plan”) that entails provides for the grant of the following types of Stock Awards: (i) Incentive Stock Options, (ii) Non-statutory Stock Options, (iii) Stock Appreciation Rights, (iv) Restricted Stock Awards, (v) Restricted Stock Unit Awards and (vi) Other Stock Awards. The Option Plan is administered by the Board of Directors. The Board may designate such authority to a committee of its discretion. The Option Plan awards are available to all employees, members of the board of directors and consultants. The Option grants authorized for issuance under the Plan may total exercise into <span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_c20210531__us-gaap--AwardTypeAxis__custom--EquityCompensationPlansMember_zY0vuycYZbq5" title="Number of option grants authorized">10,000,000 shares of Common Stock. In the event of a termination or cancellation of an unused option grant, those shares revert to the Option Plan.

10000000

0.0001

100000000

0.0001

23270404

17057085

4325043

616666

8.11

5000000

2239129

810300

75000

202575

40000 432963 238488

830547

35000

94535

586000 656613

548563

270100

100000

10000000

NOTE K - EQUITY-BASED COMPENSATION EQUITY-BASED COMPENSATION Option Awards 2023 Activity The Company granted options to acquire 2,239,129 shares of common stock of the Company at a weighted average exercise price of $4.55 per share in the year ended December 31, 2023. Generally, options have a service vesting condition of 25% cliff after 1 year and then monthly thereafter for 36 months (2.067% per month). <p id="xdx_897_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zzw0pzK5X51j" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; background-color: white">The following table provides the weighted average assumptions included in the Black-Scholes Merton pricing model for the options granted: SCHEDULE OF WEIGHTED AVERAGE VALUATION ASSUMPTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center">Year Ended December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zUEPEsRw2aT9" title="Expected term">5.39 years </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 78%; text-align: left">Risk-free interest rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_dp_uPure_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zOp1Xt7uYLX2" title="Risk-free interest rate">3.81</td><td style="width: 1%; text-align: left">%</td></tr> <tr 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"><span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_dp_uPure_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zrHxGCaDKtxi" title="Dividend yield">0.00</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp_uPure_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zjp6gqxnxpSa" title="Volatility">50.42</td><td style="text-align: left">%</td></tr> </table> A summary of option activity for the years ended December 31, 2023 and 2022 is as follows: SUMMARY OF SHARE-BASED PAYMENT ARRANGEMENT OPTION ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Number of Shares</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Weighted Average Grant Date Fair Value</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Weighted Average Remaining Contractual Term (in years)</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%">Outstanding as of 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_c20230101__20231231__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zTLk6XnpCvR3" style="width: 14%; text-align: right" title="Number of shares outstanding, beginning balance">270,100</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"><span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20230101__20231231__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zgykciGVvEIc">0.37</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">0.22</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"><span id="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20220101__20221231_z9sPuafjbw8g" title="Weighted average remaining contractual term (in years), beginning">8.75</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20230101__20231231__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zx8lIQEudHYe" style="text-align: right" title="Number of shares, granted">2,239,129</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20230101__20231231__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_z0Il5HXNYlv4">4.55</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2.30</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Forfeited</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_di_c20230101__20231231__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zOHtXRLrARoi" style="text-align: right" title="Number of shares, forfeited">(10,804</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_c20230101__20231231__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zoimrEoS8kqg">3.70</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-left: 10pt; padding-bottom: 1.5pt">Exercised</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_di_c20230101__20231231__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zKvQ0to1Yue1" style="border-bottom: Black 1.5pt solid; text-align: right" title="Number of shares, exercised">(67,525</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_c20230101__20231231__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zfDUYPKYvub2">0.37</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Outstanding as of December 31, 2023</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20230101__20231231__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zi9vYBaMBHd" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares outstanding, ending balance">2,430,900</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20230101__20231231__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zOMGjHkw7j4k">4.19</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">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2.11</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_902_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20230101__20231231_zh0cOTGYPK17" title="Weighted average remaining contractual term (in years), ending">9.23</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Vested and expected to vest as of December 31, 2023</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber_iE_c20230101__20231231__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zEGll6s3WRW7" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares vested and expected to vest">2,430,900</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice_iE_c20230101__20231231__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zME9jqgI9aja">4.19</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">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2.11</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_903_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1_dtY_c20230101__20231231_zmvHHQKn4rjd" title="Weighted average remaining contractual term (in years),vested and expected to vest">9.23</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Exercisable as of December 31, 2023</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_c20230101__20231231__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_z372desH9o48" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares exercisable">1,602,762</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_c20230101__20231231__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zojuFWdiC8oi">3.70</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">1.81</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_90A_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20230101__20231231_zqrqlD94DOr8" title="Weighted average remaining contractual term (in years), exercisable">9.15</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The intrinsic value of the options exercised during the year ended December 31, 2023 was $<span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue_c20230101__20231231_zqNqqpWYou25" title="Intrinsic value of the options exercised">225,000. There was <span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue_do_c20220101__20221231_zUGTU5VuJCtj" title="Intrinsic value of the options exercised">no intrinsic value for the options exercised during the year ended December 31, 2022 The aggregate intrinsic value of options outstanding and options exercisable as of December 31, 2023 were $9,516,700 and $7,042,448, respectively. At December 31, 2023, future stock-based compensation for options granted and outstanding of $<span id="xdx_906_ecustom--FutureShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20230101__20231231_z7xt1zySc1a7" title="Future stock-based compensation for options granted"><span id="xdx_90F_ecustom--FutureShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingInPeriod_c20230101__20231231_zqZVJWV7sKib" title="Future stock-based compensation for options outstanding">2,110,824 will be recognized over a remaining weighted-average requisite service period of 3.5 years. 2022 Activity There was no 2022 option grant activity. The Company recorded stock-based compensation from option grants of $3,066,342 and $18,750 in the years ended December 31, 2023 and 2022, respectively. Stock-based compensation capitalized as part of capitalized software costs for the year ended December 31, 2023 were $<span id="xdx_90F_eus-gaap--EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount_c20230101__20231231__us-gaap--BalanceSheetLocationAxis__us-gaap--SoftwareDevelopmentMember_zYwtHC3fBBGd" title="Stock based compensation capitalized">61,458, and $<span id="xdx_907_eus-gaap--EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount_c20230101__20231231__us-gaap--IncomeStatementLocationAxis__us-gaap--OperatingIncomeLossMember_zuvsBHUj0BOh" title="Stock based compensation capitalized">3,004,884 were expensed in the accompanying statements of operations. No stock-based compensation costs were capitalized during the year ended December 31, 2022. Warrant Awards There were 810,300 warrants granted in the year ended December 31, 2023 at a weighted average exercise price of $3.70 per share with expiration dates ranging from February to June 2033. There were 135,050 warrants exercised in the year ended December 31, 2023 at a weighted average exercise price of $0.37 per share. As of December 31, 2023, there were 1,039,885 warrants outstanding at a weighted average exercise price of $2.96 per share, with expiration dates ranging from August 2029 to June 2033. There were no warrants granted during the year ended December 31, 2022. There were 310,615 warrants exercised during the year ended December 31, 2022. The Company recorded $1,873,771 and $0 stock-based compensation expense related to warrants for the years ended December 31, 2023 and 2022, respectively. The following table provides the weighted average assumptions included in the Black-Scholes Merton pricing model for the warrants granted: SCHEDULE OF WEIGHTED AVERAGE VALUATION ASSUMPTIONS FOR WARRANTS GRANTED <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center">Year Ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20231231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zX2HEYaKMoAg" title="Expected term">10 years </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 78%; text-align: left">Risk-free interest rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right"><span id="xdx_906_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20231231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zXvPMYt2mE81" title="Risk-free interest rate">3.53</td><td style="width: 1%; text-align: left">%</td></tr> <tr 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"><span id="xdx_90F_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20231231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zzw3c8A0DLRa" title="Dividend yield">0.00</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20231231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputOptionVolatilityMember_zfPYQCYDfJPl" title="Volatility">47.44</td><td style="text-align: left">%</td></tr> </table> <p id="xdx_89C_eus-gaap--ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_z4LPF2Dbe5qi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The Company has recorded stock-based compensation related to its options and warrants in the accompanying statements of operations as follows: SCHEDULE OF STOCK-BASED COMPENSATION RELATED TO ITS OPTIONS AND WARRANTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_491_20230101__20231231_zDGRAoQ7h0K3" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49B_20220101__20221231_zzhAK8mXBCt7" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Year Ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--AllocatedShareBasedCompensationExpense_hus-gaap--IncomeStatementLocationAxis__us-gaap--GeneralAndAdministrativeExpenseMember_zcl79gTLRwEb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">General and administrative</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">4,846,867</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">18,750</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AllocatedShareBasedCompensationExpense_hus-gaap--IncomeStatementLocationAxis__us-gaap--ResearchAndDevelopmentExpenseMember_zfQrID7lmuil" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Research and development</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">31,788</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AllocatedShareBasedCompensationExpense_ziUW3vqTjaih" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Stock based compensation</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,878,655</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">18,750</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

2239129

4.55

0.25

1 year and then monthly thereafter for 36 months (2.067% per month)

<p id="xdx_897_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zzw0pzK5X51j" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; background-color: white">The following table provides the weighted average assumptions included in the Black-Scholes Merton pricing model for the options granted: SCHEDULE OF WEIGHTED AVERAGE VALUATION ASSUMPTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center">Year Ended December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zUEPEsRw2aT9" title="Expected term">5.39 years </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 78%; text-align: left">Risk-free interest rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_dp_uPure_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zOp1Xt7uYLX2" title="Risk-free interest rate">3.81</td><td style="width: 1%; text-align: left">%</td></tr> <tr 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"><span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_dp_uPure_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zrHxGCaDKtxi" title="Dividend yield">0.00</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp_uPure_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zjp6gqxnxpSa" title="Volatility">50.42</td><td style="text-align: left">%</td></tr> </table>

P5Y4M20D

0.0381

0.0000

0.5042

A summary of option activity for the years ended December 31, 2023 and 2022 is as follows: SUMMARY OF SHARE-BASED PAYMENT ARRANGEMENT OPTION ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Number of Shares</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Weighted Average Grant Date Fair Value</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Weighted Average Remaining Contractual Term (in years)</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%">Outstanding as of 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_c20230101__20231231__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zTLk6XnpCvR3" style="width: 14%; text-align: right" title="Number of shares outstanding, beginning balance">270,100</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"><span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20230101__20231231__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zgykciGVvEIc">0.37</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">0.22</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"><span id="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20220101__20221231_z9sPuafjbw8g" title="Weighted average remaining contractual term (in years), beginning">8.75</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20230101__20231231__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zx8lIQEudHYe" style="text-align: right" title="Number of shares, granted">2,239,129</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20230101__20231231__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_z0Il5HXNYlv4">4.55</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2.30</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-left: 10pt">Forfeited</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_di_c20230101__20231231__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zOHtXRLrARoi" style="text-align: right" title="Number of shares, forfeited">(10,804</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_c20230101__20231231__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zoimrEoS8kqg">3.70</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1.5pt">Exercised</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_di_c20230101__20231231__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zKvQ0to1Yue1" style="border-bottom: Black 1.5pt solid; text-align: right" title="Number of shares, exercised">(67,525</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_c20230101__20231231__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zfDUYPKYvub2">0.37</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Outstanding as of December 31, 2023</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--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20230101__20231231__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zi9vYBaMBHd" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares outstanding, ending balance">2,430,900</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">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20230101__20231231__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zOMGjHkw7j4k">4.19</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2.11</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_902_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20230101__20231231_zh0cOTGYPK17" title="Weighted average remaining contractual term (in years), ending">9.23</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Vested and expected to vest as of December 31, 2023</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--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber_iE_c20230101__20231231__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zEGll6s3WRW7" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares vested and expected to vest">2,430,900</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">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice_iE_c20230101__20231231__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zME9jqgI9aja">4.19</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2.11</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_903_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1_dtY_c20230101__20231231_zmvHHQKn4rjd" title="Weighted average remaining contractual term (in years),vested and expected to vest">9.23</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Exercisable as of December 31, 2023</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--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_c20230101__20231231__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_z372desH9o48" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares exercisable">1,602,762</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">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_c20230101__20231231__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zojuFWdiC8oi">3.70</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1.81</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_90A_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20230101__20231231_zqrqlD94DOr8" title="Weighted average remaining contractual term (in years), exercisable">9.15</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

270100

0.37

0.22

P8Y9M

2239129

4.55

2.30

10804

3.70

67525

0.37

2430900

4.19

2.11

P9Y2M23D

2430900

4.19

2.11

P9Y2M23D

1602762

3.70

1.81

P9Y1M24D

225000

9516700

7042448

2110824 2110824

P3Y6M

3066342 18750

61458

3004884

810300

3.70

135050

0.37

1039885

2.96

310615

1873771

The following table provides the weighted average assumptions included in the Black-Scholes Merton pricing model for the warrants granted: SCHEDULE OF WEIGHTED AVERAGE VALUATION ASSUMPTIONS FOR WARRANTS GRANTED <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center">Year Ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20231231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zX2HEYaKMoAg" title="Expected term">10 years </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 78%; text-align: left">Risk-free interest rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right"><span id="xdx_906_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20231231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zXvPMYt2mE81" title="Risk-free interest rate">3.53</td><td style="width: 1%; text-align: left">%</td></tr> <tr 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"><span id="xdx_90F_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20231231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zzw3c8A0DLRa" title="Dividend yield">0.00</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20231231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputOptionVolatilityMember_zfPYQCYDfJPl" title="Volatility">47.44</td><td style="text-align: left">%</td></tr> </table>

P10Y

3.53

0.00

47.44

<p id="xdx_89C_eus-gaap--ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_z4LPF2Dbe5qi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The Company has recorded stock-based compensation related to its options and warrants in the accompanying statements of operations as follows: SCHEDULE OF STOCK-BASED COMPENSATION RELATED TO ITS OPTIONS AND WARRANTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_491_20230101__20231231_zDGRAoQ7h0K3" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49B_20220101__20221231_zzhAK8mXBCt7" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Year Ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--AllocatedShareBasedCompensationExpense_hus-gaap--IncomeStatementLocationAxis__us-gaap--GeneralAndAdministrativeExpenseMember_zcl79gTLRwEb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">General and administrative</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">4,846,867</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">18,750</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AllocatedShareBasedCompensationExpense_hus-gaap--IncomeStatementLocationAxis__us-gaap--ResearchAndDevelopmentExpenseMember_zfQrID7lmuil" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Research and development</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">31,788</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AllocatedShareBasedCompensationExpense_ziUW3vqTjaih" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Stock based compensation</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,878,655</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">18,750</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

4846867

18750

31788

4878655

18750

NOTE L – INCOME TAXES The components of our deferred tax assets are as follows: SCHEDULE OF COMPONENTS OF DEFERRED TAX ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="display: none; vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_494_20231231_zLua54NuIXL2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49A_20221231_zzBTYcofML42" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Deferred Tax Assets:</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--DeferredTaxAssetsGoodwillAndIntangibleAssets_iI_maDTAGzN61_zZ6D3fY6HrGk" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; width: 60%; text-align: left">Intangible assets</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">280,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--DeferredTaxAssetsSection_iI_maDTAGzN61_z5YUKiVdQ4th" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt">Section 174</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">70,000</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_405_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities_iI_maDTAGzN61_zig0ZpwuVPYg" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left">Accrued expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">300,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">53,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwardsDomestic_iI_maDTAGzN61_zH2vq7H4WCv6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left">Federal net operating losses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,200,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">180,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxAssetsInProcessResearchAndDevelopment_iI_maDTAGzN61_z8W8TKS6y84i" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1.5pt">Research and development credit</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">50,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--DeferredTaxAssetsGross_iTI_mtDTAGzN61_maDTANzYeg_zhqvSLlsNcF1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left">Total deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,900,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">256,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_di_msDTANzYeg_zAxP0DqAtV08" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1.5pt">Less: Valuation allowance</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,880,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(256,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--DeferredTaxAssetsNet_iTI_maDTALNz60N_mtDTANzYeg_z017rtD57yU4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; font-weight: bold; text-align: left">Net Deferred Tax Assets:</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">20,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</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-left: 10pt; font-weight: bold; text-align: left">Deferred Tax 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_405_eus-gaap--DeferredIncomeTaxLiabilities_iNI_di_msDTALNz60N_zyVH0x0kdMWd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1.5pt">Fixed assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(20,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iTI_mtDTALNz60N_zzOakoZtCNZi" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Net Deferred Tax Liability</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</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> The benefit of income taxes for the years ended December 31, 2023 and 2022 consist of the following: SCHEDULE OF BENEFIT OF INCOME TAXES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="display: none; vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_491_20230101__20231231_zyQkWSPyhcAg" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_496_20220101__20221231_zf8OHibOGswk" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the years ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_408_eus-gaap--FederalIncomeTaxExpenseBenefitContinuingOperationsAbstract_iB_zk6LuzBxPTic" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">U.S. federal</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--CurrentFederalTaxExpenseBenefit_i01N_di_zawLtO4UbMw9" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt">Current</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--DeferredFederalIncomeTaxExpenseBenefit_i01N_di_maITEBzeWF_zWvxDeosUQ42" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; width: 60%">Deferred</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(1,624,000</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: 16%; text-align: right">(256,000</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--StateAndLocalIncomeTaxExpenseBenefitContinuingOperationsAbstract_i01B_z0v0KqbZisxc" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; 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_40E_eus-gaap--CurrentStateAndLocalTaxExpenseBenefit_i01N_di_zAkZ3fuugIuk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt">Current</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--DeferredStateAndLocalIncomeTaxExpenseBenefit_i01N_di_zqyP4Ee0RA0c" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt">Deferred</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_ecustom--ValuationAllowancesOfIncomeTaxExpenseBenefit_msITEBzeWF_zC0jldTAv8sc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Valuation allowance</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,624,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">256,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--IncomeTaxExpenseBenefit_iNT_di_mtITEBzeWF_zNumYSoJXLV8" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Income Tax Provision (Benefit)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</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> A reconciliation of the statutory income tax rate to the effective tax rate is as follows: SCHEDULE OF RECONCILIATION OF THE STATUTORY INCOME TAX RATE TO EFFECTIVE TAX RATE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="display: none; vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49D_20230101__20231231_zxGWk8LNqddh" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_495_20220101__20221231_zrjUhghO8WBf" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_401_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_maITEBzTB6_z0JzyZLt8cWk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Federal rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(2,460,000</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(142,000</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount_maITEBzTB6_zz7YsCwRIg9g" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Stock compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,020,000</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--EffectiveIncomeTaxRateGainOnExtinguishmentAmount_maITEBzTB6_zHltEN7KENGd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Gain on extinguishment</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">(115,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_40A_ecustom--EffectiveIncomeTaxRateFederalRTPAmount_maITEBzTB6_z9YUZU9pt6l1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Federal RTP</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(30,000</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--IncomeTaxReconciliationOtherAdjustments_maITEBzTB6_zAxtZ8tiUJm5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred tax adjustment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(150,000</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_401_eus-gaap--IncomeTaxReconciliationOtherReconcilingItems_maITEBzTB6_zvSHG2c3RtFi" style="vertical-align: bottom; background-color: White"> <td>Other</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_maITEBzTB6_z53ooEJ75rh3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Change in valuation allowance</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,624,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">256,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--IncomeTaxExpenseBenefit_iT_mtITEBzTB6_zWR9rQbpIlYd" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Income Tax Provision (Benefit)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</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> As of the Company’s last filed Federal returns on December 31, 2022 and 2021, the Company has net operating losses of $1,104,955 and $148,421, respectively, available for carryforward to future years. These operating losses are indefinite lived, however their deductibility is limited under Internal Revenue Code 720. As of December 31, 2023 the Company has a valuation allowance of $1,880,000 against all net domestic deferred tax assets, for which realization cannot be considered more likely than not at this time. The net change in the valuation allowance was $1,624,000 for the year ended December31, 2023. Management assesses the need for the valuation allowance on an annual basis. In assessing the need for a valuation allowance, the Company considers all positive and negative evidence, including scheduled reversals of deferred tax liabilities, projected future taxable income, tax planning strategies, and past financial performance. On May 3, 2023 the Company acquired DM Lab in an asset purchase agreement, which is deemed an asset acquisition for tax purposes. Per the acquisition accounting, no goodwill was created in this transaction. As an asset deal, the fair value of the intangibles and fixed assets from the DM acquisition have the same book and tax basis’s as of the opening balance sheet date. The majority of the assets acquired were intangible assets and the intangible asset deferred account represents the difference between net book and net tax value of the acquired assets as of December 31, 2023. Wyoming has no corporate income tax. The Company does not expect any material changes in the amount of unrecognized tax benefits within the next twelve months. The Company files tax returns as prescribed by the laws of the jurisdictions in which it operates. In the normal course of business, the Company is subject to examination by federal and state jurisdictions, where applicable. There are currently no pending tax examinations. The statute of limitations period is generally three years. Due to the extent of the net operating loss carryforward, however, all tax years remain open to examination.

The components of our deferred tax assets are as follows: SCHEDULE OF COMPONENTS OF DEFERRED TAX ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="display: none; vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_494_20231231_zLua54NuIXL2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49A_20221231_zzBTYcofML42" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Deferred Tax Assets:</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--DeferredTaxAssetsGoodwillAndIntangibleAssets_iI_maDTAGzN61_zZ6D3fY6HrGk" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; width: 60%; text-align: left">Intangible assets</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">280,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--DeferredTaxAssetsSection_iI_maDTAGzN61_z5YUKiVdQ4th" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt">Section 174</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">70,000</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_405_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities_iI_maDTAGzN61_zig0ZpwuVPYg" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left">Accrued expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">300,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">53,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwardsDomestic_iI_maDTAGzN61_zH2vq7H4WCv6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left">Federal net operating losses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,200,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">180,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxAssetsInProcessResearchAndDevelopment_iI_maDTAGzN61_z8W8TKS6y84i" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1.5pt">Research and development credit</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">50,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--DeferredTaxAssetsGross_iTI_mtDTAGzN61_maDTANzYeg_zhqvSLlsNcF1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left">Total deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,900,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">256,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_di_msDTANzYeg_zAxP0DqAtV08" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1.5pt">Less: Valuation allowance</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,880,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(256,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--DeferredTaxAssetsNet_iTI_maDTALNz60N_mtDTANzYeg_z017rtD57yU4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; font-weight: bold; text-align: left">Net Deferred Tax Assets:</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">20,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</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-left: 10pt; font-weight: bold; text-align: left">Deferred Tax 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_405_eus-gaap--DeferredIncomeTaxLiabilities_iNI_di_msDTALNz60N_zyVH0x0kdMWd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1.5pt">Fixed assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(20,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iTI_mtDTALNz60N_zzOakoZtCNZi" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Net Deferred Tax Liability</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</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>

280000

70000 23000

300000

53000

1200000

180000

50000

1900000

256000

1880000

256000

20000

The benefit of income taxes for the years ended December 31, 2023 and 2022 consist of the following: SCHEDULE OF BENEFIT OF INCOME TAXES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="display: none; vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_491_20230101__20231231_zyQkWSPyhcAg" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_496_20220101__20221231_zf8OHibOGswk" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the years ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_408_eus-gaap--FederalIncomeTaxExpenseBenefitContinuingOperationsAbstract_iB_zk6LuzBxPTic" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">U.S. federal</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--CurrentFederalTaxExpenseBenefit_i01N_di_zawLtO4UbMw9" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt">Current</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--DeferredFederalIncomeTaxExpenseBenefit_i01N_di_maITEBzeWF_zWvxDeosUQ42" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; width: 60%">Deferred</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(1,624,000</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: 16%; text-align: right">(256,000</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--StateAndLocalIncomeTaxExpenseBenefitContinuingOperationsAbstract_i01B_z0v0KqbZisxc" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; 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_40E_eus-gaap--CurrentStateAndLocalTaxExpenseBenefit_i01N_di_zAkZ3fuugIuk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt">Current</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--DeferredStateAndLocalIncomeTaxExpenseBenefit_i01N_di_zqyP4Ee0RA0c" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt">Deferred</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_ecustom--ValuationAllowancesOfIncomeTaxExpenseBenefit_msITEBzeWF_zC0jldTAv8sc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Valuation allowance</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,624,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">256,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--IncomeTaxExpenseBenefit_iNT_di_mtITEBzeWF_zNumYSoJXLV8" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Income Tax Provision (Benefit)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</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>

1624000

256000

1624000 256000

A reconciliation of the statutory income tax rate to the effective tax rate is as follows: SCHEDULE OF RECONCILIATION OF THE STATUTORY INCOME TAX RATE TO EFFECTIVE TAX RATE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="display: none; vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49D_20230101__20231231_zxGWk8LNqddh" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_495_20220101__20221231_zrjUhghO8WBf" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_401_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_maITEBzTB6_z0JzyZLt8cWk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Federal rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(2,460,000</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(142,000</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount_maITEBzTB6_zz7YsCwRIg9g" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Stock compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,020,000</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--EffectiveIncomeTaxRateGainOnExtinguishmentAmount_maITEBzTB6_zHltEN7KENGd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Gain on extinguishment</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">(115,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_40A_ecustom--EffectiveIncomeTaxRateFederalRTPAmount_maITEBzTB6_z9YUZU9pt6l1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Federal RTP</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(30,000</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--IncomeTaxReconciliationOtherAdjustments_maITEBzTB6_zAxtZ8tiUJm5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred tax adjustment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(150,000</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_401_eus-gaap--IncomeTaxReconciliationOtherReconcilingItems_maITEBzTB6_zvSHG2c3RtFi" style="vertical-align: bottom; background-color: White"> <td>Other</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_maITEBzTB6_z53ooEJ75rh3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Change in valuation allowance</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,624,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">256,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--IncomeTaxExpenseBenefit_iT_mtITEBzTB6_zWR9rQbpIlYd" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Income Tax Provision (Benefit)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</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>

-2460000

-142000

1020000

-115000 -30000

-150000

-4000

1000

1624000

256000

1104955

148421

1880000

1624000

NOTE M – DEFERRED REVENUE In December 2021, the Company invoiced customers, related through common ownership, for $50,000 for which services were not yet performed as of December 31, 2022. The Company refunded the amount to the customers during the year ended December 31, 2023.

50000

NOTE N – RELATED PARTY TRANSACTIONS In the year ended December 31, 2023 and 2022, certain officers and directors advanced funds to or were advances from the Company on an undocumented, non-interest bearing, due on demand basis. As of December 31, 2023, $<span id="xdx_906_eus-gaap--AccruedLiabilitiesCurrent_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember__us-gaap--BalanceSheetLocationAxis__us-gaap--AccountsPayableAndAccruedLiabilitiesMember_zUrNJttHzmwb" title="Amounts owed to related parties">178,723 and $<span id="xdx_90E_eus-gaap--AccountsPayableCurrentAndNoncurrent_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember__us-gaap--BalanceSheetLocationAxis__us-gaap--AccountsPayableAndAccruedLiabilitiesMember_zVWDi57FHZhd" title="Amounts owed to related parties">48,069 of amounts owed to related parties were included within accrued expenses and accounts payable, respectively, in the accompanying consolidated balance sheet and <span id="xdx_90F_eus-gaap--AccruedLiabilitiesCurrent_iI_doxL_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zX0koKgI2cSk" title="Amounts owed to related parties::XDX::-">no amounts were owed to the Company from any such related party. As of December 31, 2022, the Company owed $35,539 and was owed $13,685. In the years ended December 31, 2023 and 2022, the Company recorded professional and other fees and costs related to consulting services from related parties of approximately $<span id="xdx_90B_eus-gaap--OperatingCostsAndExpenses_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zDkyTQKKfQl6" title="Professional and other fees and costs">571,215 and $<span id="xdx_902_eus-gaap--OperatingCostsAndExpenses_c20220101__20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zFovJoPmxfd8" title="Professional and other fees and costs">192,000, respectively, within general and administrative expenses in the accompanying consolidated statements of operations. On June 30, 2023, the Company entered into a promissory note agreement with a related party for $<span id="xdx_90F_eus-gaap--DebtInstrumentFaceAmount_iI_c20230630__us-gaap--TypeOfArrangementAxis__custom--PromissoryNoteAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zkK1IuVWn2n5" title="Promissory note">620,000. The note bears interest at <span id="xdx_906_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20230630__us-gaap--TypeOfArrangementAxis__custom--PromissoryNoteAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zIgLYHsYuQs8" title="Interest rate">7% per annum and matures on <span id="xdx_904_eus-gaap--DebtInstrumentMaturityDate_dd_c20230630__20230630__us-gaap--TypeOfArrangementAxis__custom--PromissoryNoteAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zm6xYj6FRtvc" title="Maturity date">June 25, 2025. The proceeds were used to satisfy a financial obligation totaling $<span id="xdx_909_eus-gaap--ProceedsFromIssuanceOfDebt_c20230630__20230630__us-gaap--TypeOfArrangementAxis__custom--PromissoryNoteAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z12iUSfkcvI3" title="Proceeds from issuance of promissory note">620,000 that the Company owed to an advisory firm. <span id="xdx_901_eus-gaap--DebtInstrumentPaymentTerms_c20230630__20230630__us-gaap--TypeOfArrangementAxis__custom--PromissoryNoteAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zbinthqZc00d" title="Payment terms">The Company may prepay interest and principal on the note at any time before maturity on June 25, 2025. As of December 31, 2023, the balance on the promissory note was $<span id="xdx_901_eus-gaap--DebtInstrumentCarryingAmount_iI_c20230630__us-gaap--TypeOfArrangementAxis__custom--PromissoryNoteAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zHHfkCbhVa7a" title="Outstanding balance promissory note">500,000. For the year ended December 31, 2023, the Company recorded $<span id="xdx_90F_eus-gaap--InterestExpense_c20230630__20230630__us-gaap--TypeOfArrangementAxis__custom--PromissoryNoteAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zDymnlqaRZDk" title="Interest expense">25,299 in interest expense related to the promissory note agreement.

178723

48069

35539

13685

571215

192000

620000

0.07

2025-06-25

620000

The Company may prepay interest and principal on the note at any time before maturity on June 25, 2025.

500000

25299

NOTE O – COMMITMENTS AND CONTINGENCIES The Company is subject to various legal and regulatory proceedings, claims, and assessments, as well as other contingencies, that arise in the ordinary course of business. The Company accrues for these contingencies when it is probable that a loss has been incurred and the amount of the loss can be reasonably estimated. The Company regularly reviews and updates its accruals for contingencies and makes adjustments as necessary based on changes in circumstances and the emergence of new information. Litigation Liabilities for loss contingencies, arising from claims, assessments, litigation, fines, penalties, and other sources are recorded when it is probable that a liability has been incurred and the amount of the assessment and/or remediation can be reasonably estimated. There are no matters currently outstanding. Korea University The Company is party to a research and development sponsorship agreement with Korea University. Pursuant to the sponsorship agreement, the Company has agreed to pay <span id="xdx_901_eus-gaap--ResearchAndDevelopmentExpense_pn6n6_uKRW_c20230401__20231231__us-gaap--TypeOfArrangementAxis__custom--ResearchAndDevelopmentSponsorshipAgreementOneMember__srt--CounterpartyNameAxis__custom--KoreaUniversityMember_zJ2UQhYo9805" title="Research and development expense">275 million Korean won to Korea University during the period from April 1, 2023 through December, 31, 2023. As of December 31, 2023, the Company had paid $<span id="xdx_904_eus-gaap--SponsorFees_c20231231__20231231__us-gaap--TypeOfArrangementAxis__custom--ResearchAndDevelopmentSponsorshipAgreementOneMember__srt--CounterpartyNameAxis__custom--KoreaUniversityMember_zJ35cL6h3R15" title="Sponsor fees">180,950 in connection with the sponsorship agreement and owes a remaining <span id="xdx_90F_ecustom--RemainingOwesResearchAndDevelopmentExpense_iI_pn6n6_uKRW_c20231231__us-gaap--TypeOfArrangementAxis__custom--ResearchAndDevelopmentSponsorshipAgreementOneMember__srt--CounterpartyNameAxis__custom--KoreaUniversityMember_zJTdevS0Mvlh" title="Remaining owes research and development expense">40 million Korean won (approximately $<span id="xdx_904_ecustom--RemainingOwesResearchAndDevelopmentExpense_iI_c20231231__us-gaap--TypeOfArrangementAxis__custom--ResearchAndDevelopmentSponsorshipAgreementOneMember__srt--CounterpartyNameAxis__custom--KoreaUniversityMember_z5LUb0codHb7" title="Remaining owes research and development expense">30,800). In November 2023, the Company entered into an additional research and development sponsorship agreement with Korea University. Pursuant to the sponsorship agreement, the Company has agreed to pay <span id="xdx_90D_eus-gaap--ResearchAndDevelopmentExpense_pn5n6_uKRW_c20231101__20240310__us-gaap--TypeOfArrangementAxis__custom--ResearchAndDevelopmentSponsorshipAgreementTwoMember__srt--CounterpartyNameAxis__custom--KoreaUniversityMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zkvb5YLmtNG2" title="Research and development expense">21.6 million Korean won to Korea University during the period from November 1, 2023 through March 10, 2024. As of December 31, 2023, the Company had paid $<span id="xdx_905_eus-gaap--SponsorFees_c20231231__20231231__us-gaap--TypeOfArrangementAxis__custom--ResearchAndDevelopmentSponsorshipAgreementTwoMember__srt--CounterpartyNameAxis__custom--KoreaUniversityMember_zdb6yRchgbAe" title="Sponsor fees">4,574 in connection with this sponsorship agreement and will owe a remaining <span id="xdx_902_ecustom--RemainingOwesResearchAndDevelopmentExpense_iI_pn5n6_uKRW_c20231231__us-gaap--TypeOfArrangementAxis__custom--ResearchAndDevelopmentSponsorshipAgreementTwoMember__srt--CounterpartyNameAxis__custom--KoreaUniversityMember_z9g3dHYIzO56" title="Remaining owes research and development expense">15.7 million Korean won (approximately $<span id="xdx_909_ecustom--RemainingOwesResearchAndDevelopmentExpense_iI_c20231231__us-gaap--TypeOfArrangementAxis__custom--ResearchAndDevelopmentSponsorshipAgreementTwoMember__srt--CounterpartyNameAxis__custom--KoreaUniversityMember_zFgYIC06rVih" title="Remaining owes research and development expense">12,058) throughout the term of the agreement. In December 2023, the Company entered into a Research and Development Agreement with Korea University for total consideration of up to <span id="xdx_905_eus-gaap--ResearchAndDevelopmentExpense_pn6n6_uKRW_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ResearchAndDevelopmentSponsorshipAgreementTwoMember__srt--CounterpartyNameAxis__custom--KoreaUniversityMember__srt--RangeAxis__srt--MaximumMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zhi5LIBVsvOc" title="Research and development expense">528 million Korean won (approximately $<span id="xdx_908_eus-gaap--ResearchAndDevelopmentExpense_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ResearchAndDevelopmentSponsorshipAgreementTwoMember__srt--CounterpartyNameAxis__custom--KoreaUniversityMember__srt--RangeAxis__srt--MaximumMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zpO0ZtnHb955" title="Research and development expense">406,560) from January 2024 through December 2024. The Company can terminate the agreement upon written notice to Korea University for a period of at least one month.

275000000

180950

40000000 30800

21600000

4574

15700000 12058

528000000

406560

NOTE P – SUBSEQUENT EVENTS The Company has evaluated subsequent events from the balance sheet date through March 19, 2024, the date at which the consolidated financial statements were available to be issued, and there are no other items requiring disclosure except for the following. Stock Options During January and February of 2024, the Company granted options to acquire <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20240101__20240229__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zjN0MZgxCpV8">40,515 shares of common stock of the Company at an exercise price of $<span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_c20240101__20240229__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z25w29Yyrdp2">8.11 which were fully vested upon grant. Merger with DHC Acquisition Corp On March 14, 2024 (the “Closing Date”), DHC Acquisition Corp (“DHC”) a Cayman Islands exempted company, consummated the previously announced business combination pursuant to that certain Business Combination Agreement and Plan of Reorganization, dated as of September 7, 2023 (the “Business Combination Agreement”), by and among DHC, BEN Merger Subsidiary Corp., a Delaware corporation (“Merger Sub”), DHC Sponsor, LLC, a Delaware limited liability company, and the Company. Pursuant to the terms of the Business Combination Agreement, a business combination between DHC and the Company was effected through the merger of Merger Sub with and into the Company, with the Company as the surviving company in the business combination, and after giving effect to such merger, continuing as a wholly owned subsidiary of DHC (the “Merger” and, together with the other transactions contemplated by the Business Combination Agreement, the “Business Combination”). Each share of the Company’s common stock issued and outstanding immediately prior to the closing of the Business Combination was converted into the right to receive <span id="xdx_903_ecustom--BusinessCombinationExchangeRatio_pid_uPure_c20240314__20240314__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--BusinessAcquisitionAxis__custom--DhcAcquisitionCorpMember_ztBG8Ugrpl91" title="Exchange ratio">0.2701 (the “Exchange Ratio”) shares of DHC common stock. At the closing of the Business Combination, DHC issued <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_pid_c20240314__20240314__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--BusinessAcquisitionAxis__custom--DhcAcquisitionCorpMember_zHQ5CfeLMsBf" title="Number of issued shares for business combination">25,641,321 shares of common stock to the former holders of the Company’s common stock. In addition, pursuant to the Business Combination Agreement, options and warrants to purchase the Company’s common stock that were issued and outstanding immediately prior to the closing were assumed and adjusted pursuant to the Exchange Ratio and in accordance with the terms of their agreements into options and warrants to purchase common stock of DHC. The Business Combination is expected to be accounted for as a reverse recapitalization in accordance with U.S. GAAP. Under this method of accounting, the Company will be deemed to be the accounting acquirer for financial reporting purposes. Accordingly, for accounting purposes, the Business Combination will be treated as the equivalent of a capital transaction in which the Company is issuing stock for the net assets of DHC. The net assets of DHC would be stated at historical cost, with no goodwill or other intangible assets recorded. Operations prior to the closing of the Business Combination would be those of the Company. Following the Business Combination, the shareholders of the Company held <span id="xdx_90D_eus-gaap--BusinessAcquisitionPercentageOfVotingInterestsAcquired_iI_pid_dp_c20240314__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--BusinessAcquisitionAxis__custom--DhcAcquisitionCorpMember_z6XUcSB9dIIl" title="Percentage of voting equity interests">76.0% of the combined company, and the shareholders of DHC, sponsors and advisors held <span id="xdx_90E_eus-gaap--BusinessAcquisitionPercentageOfVotingInterestsAcquired_iI_pid_dp_c20240314__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--BusinessAcquisitionAxis__custom--ShareholdersOfDHCSponsorsAndAdvisorsMember_zDDAV7JpOMWk" title="Percentage of voting equity interests">24.0% of the combined company. AFG Companies, Inc. Prior to or concurrently with the execution and delivery of the Business Combination Agreement, (i) the Company and AFG Companies, Inc., a Texas automotive finance and insurance company (“AFG”) entered into the Reseller Agreement providing for, among other things, AFG to act as the Company’s exclusive reseller of certain products of the Company on terms and conditions set forth therein and, as partial consideration to AFG for such services to the Company, the Company shall issue a number of shares of its common stock to AFG as of immediately prior to the consummation of the Business Combination with an aggregate value of $<span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodValueAcquisitions_c20240314__20240314__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--BusinessAcquisitionAxis__custom--AFGCompaniesIncMember__us-gaap--TypeOfArrangementAxis__custom--ResellerAgreementMember_zIaToMaoS0Bh" title="Aggregate value of business combination">17,500,000 as of the issuance date, and (ii) the Company and AFG and certain of its affiliates (“AFG Investors”) have entered into the Subscription Agreement providing for, among other things, the purchase of shares of the Company’s common stock in a private placement by the AFG Investors as of immediately prior to the time at which the Business Combination becomes effective (“Effective Time”) in exchange for $<span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20240314__20240314__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--BusinessAcquisitionAxis__custom--AFGCompaniesIncMember__us-gaap--TypeOfArrangementAxis__custom--ResellerAgreementMember_zry3MBINJMej" title="Cash contributed">5,500,000 in cash contributed to the Company, in each case, subject to and contingent upon the consummation of the Business Combination. Additionally, at the Effective Time, the Company will issue to AFG a non-transferable warrant to purchase up to <span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20240314__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--BusinessAcquisitionAxis__custom--AFGCompaniesIncMember__us-gaap--TypeOfArrangementAxis__custom--ResellerAgreementMember_zjZTqWxXoITk" title="Warrants to purchase shares">3,750,000 shares of the combined company’s common stock at a price of $<span id="xdx_90D_eus-gaap--SharePrice_iI_pid_c20240314__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--BusinessAcquisitionAxis__custom--AFGCompaniesIncMember__us-gaap--TypeOfArrangementAxis__custom--ResellerAgreementMember_zLmW3gh43kv5" title="Stock price">10.00 per share, with AFG’s right to exercise such warrant vesting based upon revenues earned from the sales of the Company’s products paid by AFG to the Company pursuant to the Reseller Agreement. Concurrently with the execution and delivery of the Business Combination Agreement, the Company received $<span id="xdx_90F_eus-gaap--ProceedsFromIssuanceOfCommonStock_c20240314__20240314__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--BusinessAcquisitionAxis__custom--AFGCompaniesIncMember__us-gaap--TypeOfArrangementAxis__custom--BusinessCombinationAgreementMember_zr8RKmT9Ochf">5,500,000 from AFG pursuant to the Subscription Agreement and the Company issued an aggregate of <span id="xdx_909_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20240314__20240314__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--BusinessAcquisitionAxis__custom--AFGCompaniesIncMember__us-gaap--TypeOfArrangementAxis__custom--BusinessCombinationAgreementMember_zpNRkdLGKXHb">2,300,000 shares of the Company’s common stock to AFG pursuant to the Subscription Agreement and Reseller Agreement.

40515

8.11

0.2701

25641321

0.760

0.240

17500000

5500000

3750000

10.00

5500000

2300000