FAIR VALUE MEASUREMENTS (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Fair Value Disclosures [Abstract] |
|
| SCHEDULE OF FAIR VALUE, ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS |
The
following table sets forth a summary of the Company’s assets and liabilities that are measured at fair value on a recurring basis:
SCHEDULE OF FAIR VALUE, ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS
| | |
December
31, 2025 | | |
December
31, 2024 | |
| Fair
Value Level 1 | |
Cash
Equivalents | | |
Marketable
Securities | | |
Cash
Equivalents | | |
Marketable
Securities | |
| Prime institutional money market fund | |
$ | — | | |
$ | 450,250 | | |
$ | 13,891,997 | | |
$ | 4,089,832 | |
| U.S. Treasury Notes –
under 90 days | |
| 1,007,324 | | |
| — | | |
| — | | |
| — | |
| U.S.
Treasury Notes – over 90 days | |
| — | | |
| 2,718,112 | | |
| — | | |
| — | |
| Total
debt investments | |
$ | 1,007,324 | | |
$ | 3,168,362 | | |
$ | 13,891,997 | | |
$ | 4,089,832 | |
| Fair
Value Level 3 | |
Warrant
Liability | | |
Derivative
Liability | | |
Warrant
Liability | | |
Derivative
Liability | |
| Derivative
financial instruments | |
$ | — | | |
$ | 19,000 | | |
$ | 2,362,900 | | |
$ | 2,661,000 | |
| Total
financial derivatives | |
$ | — | | |
$ | 19,000 | | |
$ | 2,362,900 | | |
$ | 2,661,000 | |
|
| SCHEDULE OF CHANGE IN FAIR VALUE WARRANT LIABILITY |
The
following table sets forth a summary of the change in the fair value of the warrant liability, which is considered a Level 3 investment,
which is measured at fair value on a recurring basis:
SCHEDULE OF CHANGE IN FAIR VALUE WARRANT LIABILITY
| Balance on December 31, 2023 | |
$ | 13,319,800 | |
| Balance on December 31, 2023 | |
$ | 13,319,800 | |
| Change
in fair value of warrant liability | |
| (10,956,900 | ) |
| Balance on December 31, 2024 | |
| 2,362,900 | |
| Add: Fair value of Series
I warrant liability | |
| 3,981,034 | |
| Reclassification of warrants
to equity upon amendment | |
| (17,410,379 | ) |
| Change
in fair value of warrant liability | |
| 11,627,100 | |
| Balance on December 31,
2025 | |
$ | — | |
|
| SCHEDULE OF BLACK SCHOLES MODEL INPUTS AND VALUATION TECHNIQUES |
SCHEDULE OF BLACK SCHOLES MODEL INPUTS AND VALUATION TECHNIQUES
| | |
December
31, | | |
December
31, | |
| | |
2025 | | |
2024 | |
| Stock price | |
$ | 7.37 | | |
$ | 10.88 | |
| Exercise price | |
$ | 6.19 | | |
$ | 32.00 | |
| Dividend yield | |
| 0.0 | % | |
| 0.0 | % |
| Remaining terms | |
| 3.11 | | |
| 3.61 | |
| Equity volatility | |
| 71.0 | % | |
| 75.0 | % |
| Risk-free interest rate | |
| 3.7 | % | |
| 4.3 | % |
|
| SCHEDULE OF CHANGE IN FAIR VALUE OF DERIVATIVE LIABILITY |
The
following table sets forth a summary of the change in the fair value of the derivative liability, which is considered a Level 3 investment,
that is measured at fair value on a recurring basis:
SCHEDULE OF CHANGE IN FAIR VALUE OF DERIVATIVE LIABILITY
| Balance on December 31, 2023 | |
$ | 9,400,000 | |
| Balance on December 31, 2023 | |
$ | 9,400,000 | |
| Change
in fair value of derivative liability | |
| (6,739,000 | ) |
| Balance on December 31, 2024 | |
| 2,661,000 | |
| Add: Fair value of Series
I derivative liability | |
| 24,000 | |
| Add: Change in fair value
Series H-7 derivative liability due to amendment | |
| 188,000 | |
| Change
in fair value of derivative liability | |
| (2,854,000 | ) |
| Balance on December 31,
2025 | |
$ | 19,000 | |
|
| SCHEDULE OF MONTE CARLO SIMULATION MODEL INPUTS AND VALUATION TECHNIQUES |
SCHEDULE OF MONTE CARLO SIMULATION MODEL INPUTS AND VALUATION TECHNIQUES
| | |
December
31, | | |
December
31, | |
| | |
2025 | | |
2024 | |
| Volatility | |
| 130.0 | % | |
| 70.0 | % |
| Time to maturity | |
| 1.10 | | |
| 0.58 | |
| Discounted market interest | |
| 7.5 | % | |
| 9.1 | % |
| Dividend rate | |
| 7.0 | % | |
| 8.0 | % |
| Penalty dividend rate | |
| 15.0 | % | |
| 15.0 | % |
| Probability of default | |
| 9.0 | % | |
| 15.1 | % |
|