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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Summary of Goodwill The following table presents information related to goodwill for the year ended December 31, 2024.

 

Balance, beginning of year

$

19,188,278

 

AxoBio Disposition

 

(19,188,278

)

Balance, end of year

$

 

Summary of Securities that were Excluded from the Diluted Per Share

Potentially dilutive securities, which are not included in diluted weighted average shares outstanding for the periods ended December 31, 2024 and 2023, consist of the following (in common stock equivalents):

 

December 31,

 

2024

 

 

2023

 

Common Stock options

 

4,414,081

 

 

 

1,689,765

 

Common Stock warrants

 

4,640,929

 

 

 

4,638,454

 

Series A Preferred Stock (if converted)

 

 

 

 

4,243,000

 

Total Common Stock equivalents

 

9,055,010

 

 

 

10,571,219

 

Schedule of Other Financial Assets and Liabilities Recorded in Balance Sheet at Fair Value Other financial assets and liabilities as of December 31, 2024 and 2023 are categorized based on a hierarchy of inputs as follows:

 

 

 

December 31, 2024

 

 

December 31, 2023

 

 

Fair Value

 

 

Carrying Value

 

 

Estimated Fair Value

 

 

Carrying Value

 

 

Estimated Fair Value

 

 

Input Hierarchy

Money market accounts

 

$

25,374

 

 

$

25,374

 

 

$

30,000

 

 

$

30,000

 

 

Level 1

Forward purchase agreement

 

 

 

 

 

 

 

 

5,700,451

 

 

 

5,700,451

 

 

Level 3

SBA Loan

 

 

 

 

 

 

 

 

1,505,070

 

 

 

1,498,000

 

 

Level 2

Schedule of Changes in Fair Value of Level 3 Financial Assets and Liabilities

Changes in the fair value of Level 3 financial assets and liabilities for the year ended December 31, 2024 are as follows:

 

Forward Purchase Agreement:

 

 

 

Balance, beginning of year

 

$

5,700,451

 

Change in fair value

 

 

(5,445,787

)

Loss on modification of agreement

 

 

(254,664

)

Balance, end of period

 

$