| Schedule of carrying value and fair value of financial assets and liabilities measured at fair value on a recurring basis |
The following table provides the carrying value and fair value of certain financial assets and liabilities of the Company measured at fair value on a recurring basis as of June 30, 2026 and December 31, 2025: | | | | | | | | | | | | | | | | | | Fair Value Measurement at | | | | | | June 30, 2026 | | | Carrying Value | | Level 1 | | Level 2 | | Level 3 | Assets: | | | | | | | | | | | | | Cash equivalents | | $ | 18,511,359 | | $ | 18,511,359 | | $ | — | | $ | — | Total assets measured and recorded at fair value | | $ | 18,511,359 | | $ | 18,511,359 | | $ | — | | $ | — | Liabilities: | | | | | | | | | | | | | Warrant liability | | $ | 19,933,000 | | $ | — | | $ | — | | $ | 19,933,000 | Total liabilities measured and recorded at fair value | | $ | 19,933,000 | | $ | — | | $ | — | | $ | 19,933,000 |
| | | | | | | | | | | | | | | | | | Fair Value Measurement at | | | | | | December 31, 2025 | | | Carrying Value | | Level 1 | | Level 2 | | Level 3 | Assets: | | | | | | | | | | | | | Cash equivalents | | $ | 19,184,883 | | $ | 19,184,883 | | $ | — | | $ | — | Total assets measured and recorded at fair value | | $ | 19,184,883 | | $ | 19,184,883 | | $ | — | | $ | — | Liabilities: | | | | | | | | | | | | | Warrant liability | | $ | 595,000 | | $ | — | | $ | — | | $ | 595,000 | Total liabilities measured and recorded at fair value | | $ | 595,000 | | $ | — | | $ | — | | $ | 595,000 |
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| Schedule of quantitative information regarding Level 3 fair value measurements inputs |
The following tables provide quantitative information regarding the Level 3 classified October 2023 Canaccord Warrants as of their respective measurement dates: | | | | | | | | | | | | | | | June 30, 2026 | | | December 31, 2025 | | Exercise price | | | | $ | 9.00 | | | $ | 9.00 | | Closing stock price | | | | $ | 1.86 | | | $ | 3.46 | | Number of warrants | | | | | 308,333 | | | | 308,333 | | Volatility | | | | | 128 | % | | | 123 | % | Term (time to expiration in years) | | | | | 2.34 | | | | 2.84 | | Risk-free rate | | | | | 4.1 | % | | | 3.5 | % |
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| Schedule of quantitative information regarding Level 3 fair value measurements inputs |
The following tables provide quantitative information regarding the Level 3 classified April 2026 Canaccord Warrants as of their respective measurement dates: | | | | | | | | | | | | | | | June 30, 2026 | | | April 9, 2026 | | Exercise price | | | | $ | 2.50 | | | $ | 2.50 | | Closing stock price | | | | $ | 1.86 | | | $ | 1.59 | | Number of warrants | | | | | 5,263,156 | | | | 5,263,156 | | Volatility | | | | | 125 | % | | | 126 | % | Term (time to expiration in years) | | | | | 5.28 | | | | 5.50 | | Risk-free rate | | | | | 4.2 | % | | | 4.0 | % |
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| Schedule of quantitative information regarding Level 3 fair value measurements inputs |
The following tables provide quantitative information regarding the Level 3 classified May 2026 Canaccord Warrants as of their respective measurement dates: | | | | | | | | | | | | | | | June 30, 2026 | | | May 20, 2026 | | Exercise price | | | | $ | 2.25 | | | $ | 2.25 | | Closing stock price | | | | $ | 1.86 | | | $ | 2.15 | | Number of warrants | | | | | 7,105,000 | | | | 7,105,000 | | Volatility | | | | | 123 | % | | | 125 | % | Term (time to expiration in years) | | | | | 5.89 | | | | 6.00 | | Risk-free rate | | | | | 4.2 | % | | | 4.3 | % |
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