v3.25.4
Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2024
Fair Value Disclosures [Abstract]  
Summary of Significant Unobservable Inputs (Level 3 inputs) Used in Measurement upon Issuance Dates

A summary of significant unobservable inputs (Level 3 inputs) used in measuring the 2023 Note upon its issuance date is as follows:

 

   February 6, 2023   September 30,
2023
 
Dividend yield   —%   —%
Expected price volatility   30.0 - 53.7%    30.0%
Risk free interest rate   4.65 - 4.89%   5.35%
Expected term (in years)   0.5 - 1.4    0.1 - 1.0 
Summary of Changes in Level 3 Liabilities Measured at Fair Value

There were no liabilities measured at fair value on a recurring basis into the fair value hierarchy as of September 30, 2024.

 

   Convertible Notes 
Balance at December 31, 2022  $173,543 
Issuance of convertible notes   1,903,531 
Issuance of common stock in connections with conversion of notes payables   (445,167)
Repayment of convertible notes   (559,600)
Loss on extinguishment of debt   394,257 
Change in fair value   114,704 
Balance at September 30, 2023  $1,581,268