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Deferred Offering Costs
3 Months Ended
Mar. 31, 2024
Deferred Offering Costs [Abstract]  
DEFERRED OFFERING COSTS

NOTE 3 — DEFERRED OFFERING COSTS

 

The Company capitalizes certain legal and other third-party fees that are directly associated with in-process equity financings as deferred offering costs until such financings are consummated. After consummation of the equity financing, these costs are recorded as a reduction of the proceeds generated as a result of the offering. Should the planned equity financing be abandoned, the deferred offering costs will be expensed immediately as a charge to operating expense in the consolidated statements of operations. Deferred offering costs amounted to $5,065,000 at March 31, 2024.