Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2025

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Subject to Fair Value Measurements

Assets and liabilities subject to fair value measurements are as follows:

	As of June 30, 2025
	Level 1		Level 2		Level 3		Total
Assets
Cash and cash equivalents – Money market	$	13,027,032	$	—	$	—	$	13,027,032
Liabilities
Warrant liabilities – Public Warrants	$	1,207,500	$	—	$	—	$	1,207,500
Warrant liabilities – Private placement warrants(1)	—		—		1,482,000		1,482,000
Earn-out liabilities(2)	—		—		710,000		710,000
Total liabilities	$	1,207,500	$	—	$	2,192,000	$	3,399,500

	As of December 31, 2024
	Level 1		Level 2		Level 3		Total
Assets
Cash and cash equivalents – Money market	$	22,602,438	$	—	$	—	$	22,602,438
Liabilities
Warrant liabilities – Public Warrants	$	4,600,000	$	—	$	—	$	4,600,000
Warrant liabilities – Private placement warrants(1)	—		—		5,586,000		5,586,000
Earn-out liabilities(2)	—		—		620,000		620,000
Total liabilities	$	4,600,000	$	—	$	6,206,000	$	10,806,000

(1)Private Placement Warrants were estimated using a Black-Scholes option pricing model utilizing assumptions related to the contractual term of the instruments, estimated volatility of the price of the common stock and current interest rates.

(2)The fair value of the earn-out liabilities was estimated using Monte Carlo simulation utilizing assumptions related to the contractual term of the instruments, estimated volatility of the price of the common stock and current interest rates.

Schedule of Changes in Fair Value of the Public and Private Placements Warrants

The following tables summarize the balances of and changes in Level 3 private placement warrants and earn-out liabilities measured at fair value on a recurring basis for the three and six months ended June 30, 2025 and 2024:

	Private Placement Warrants		Earn-out Liabilities
Balance at January 1, 2025	$	5,586,000	$	620,000
Change in fair value during the period	(4,104,000)		(450,000)
Balance at March 31, 2025	$	1,482,000	$	170,000
Increase related to asset acquisition	—		550,000
Change in fair value during the period	—		(10,000)
Balance at June 30, 2025	$	1,482,000	$	710,000
Balance at January 1, 2024	$	5,415,000	$	660,000
Change in fair value during the period	(1,254,000)		(120,000)
Balance at March 31, 2024	$	4,161,000	$	540,000
Change in fair value during the period	(1,596,000)		(220,000)
Balance at June 30, 2024	$	2,565,000	$	320,000