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Convertible Notes and Convertible Notes - Related Parties (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2025
Dec. 31, 2024
Convertible Notes and Convertible Notes - Related Parties    
Schedule of roll forward of convertible notes and convertible notes - related party

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Convertible Notes – 

Convertible Notes

Related Party

Balance at January 1, 2024

$

7,918,528

$

2,032,017

2024 Bridge Round Offering proceeds

 

6,563,000

 

650,000

Loss on extinguishment of debt

 

1,183,289

 

202,204

Recognition of debt discount

 

(2,173,509)

 

(514,827)

Foreign currency translation adjustment

 

(369,323)

 

(130,898)

Amortization of debt discount

 

586,847

 

133,498

Balance at December 31, 2024

13,708,832

2,371,994

February 2025 Bridge Round Offering proceeds

 

9,335,000

 

1,650,000

Recognition of debt discount

 

(2,323,073)

 

(271,458)

Amortization of debt discount

 

304,616

 

212,160

Balance at March 31, 2025

21,025,375

3,962,696

Amortization of debt discount

 

593,114

 

106,078

Balance at June 30, 2025

21,618,489

4,068,774

Amortization of debt discount

 

599,633

 

107,243

Balance at September 30, 2025

$

22,218,122

$

4,176,017

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Convertible

Convertible

Notes – Related

Notes

Party

Balance at January 1, 2023

$

$

May 2023 Offering proceeds

 

1,945,000

 

1,065,000

Recognition of debt discount

 

(633,822)

 

(345,411)

September 2023 Offering proceeds

 

6,070,000

 

1,065,000

Adjustment for troubled debt restructuring

 

229,129

 

170,550

Foreign currency translation adjustment

 

267,340

 

64,386

Amortization of debt discount

 

40,881

 

12,492

Balance at December 31, 2023

 

7,918,528

 

2,032,017

Bridge Round Offering proceeds

 

6,563,000

 

650,000

Loss on extinguishment of debt

 

1,183,289

 

202,204

Recognition of debt discount

 

(2,173,509)

 

(514,827)

Foreign currency translation adjustment

 

(369,323)

 

(130,898)

Amortization of debt discount

 

586,847

 

133,498

Balance at December 31, 2024

$

13,708,832

$

2,371,994

May 2023 Offering    
Convertible Notes and Convertible Notes - Related Parties    
Summary of inputs used in valuation techniques for warrants issued with convertible notes

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May 2023 Offering

 

Stock price

$

51.12

Exercise (Strike) price

 

Variable

Time to maturity (years)

 

3.5

Annualized risk-free rate

 

4.6

%

Annualized volatility

 

50.0

%

May 2023

 

  ​ ​ ​

Offering

Stock price

$

51.12

 

Exercise (Strike) price

 

Variable

Time to maturity (years)

 

3.5

Annualized risk-free rate

 

4.6

%

Annualized volatility

 

50.0

%

September 2023 Offering    
Convertible Notes and Convertible Notes - Related Parties    
Summary of inputs used in valuation techniques for warrants issued with convertible notes

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September 2023 Offering

 

Stock price

$

51.14

Exercise (Strike) price

$

200

Time to maturity (years)

 

4.9

Annualized risk-free rate

 

4.4

%

Annualized volatility

 

60.0

%

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September 2023

 

Offering

 

Stock price

$

51.14

Exercise (Strike) price

$

200

Time to maturity (years)

 

4.9

Annualized risk-free rate

 

4.4

%

Annualized volatility

 

60.0

%

Bridge Round Offering    
Convertible Notes and Convertible Notes - Related Parties    
Summary of inputs used in valuation techniques for warrants issued with convertible notes  

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Bridge Round

 

Offering

 

Stock price

$

52.06

Exercise (Strike) price

$

100

Time to maturity (years)

 

4.1

Annualized risk-free rate

 

4.3

%

Annualized volatility

 

63.0

%