| Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis |
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June 30, 2024 |
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Level 1 |
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Level 2 |
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Level 3 |
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Total Fair Value |
Cash equivalents: |
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Money market funds |
$ |
1,225,988 |
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$ |
— |
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$ |
— |
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$ |
1,225,988 |
Subtotal |
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1,225,988 |
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— |
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— |
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1,225,988 |
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Liabilities: |
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Contingent value rights |
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— |
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— |
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(1,198,212) |
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(1,198,212) |
Warrant liability |
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— |
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— |
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(9,806,409) |
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(9,806,409) |
Embedded derivative liability |
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— |
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— |
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(1,055,600) |
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(1,055,600) |
Earnout consideration |
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— |
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— |
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(2,700,000) |
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(2,700,000) |
Subtotal |
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— |
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— |
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(14,760,221) |
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(14,760,221) |
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Total |
$ |
1,225,988 |
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$ |
— |
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$ |
(14,760,221) |
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$ |
(13,534,233) |
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December 31, 2023 |
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Level 1 |
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Level 2 |
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Level 3 |
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Total Fair Value |
Cash equivalents: |
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Money market funds |
$ |
1,799,357 |
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$ |
— |
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$ |
— |
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$ |
1,799,357 |
Subtotal |
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1,799,357 |
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— |
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— |
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1,799,357 |
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Current Liabilities: |
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Contingent value rights |
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— |
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— |
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(1,691,072) |
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(1,691,072) |
Earnout consideration |
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— |
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— |
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(3,500,000) |
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(3,500,000) |
Subtotal |
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— |
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— |
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(5,191,072) |
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(5,191,072) |
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Total |
$ |
1,799,357 |
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$ |
— |
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$ |
(5,191,072) |
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$ |
(3,391,715) |
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| Schedule of Reconciliations of Recurring Fair Value Measurements |
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Three Months Ended June 30, 2024 |
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Contingent value rights |
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Warrant liability |
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Embedded derivative liability |
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Earnout consideration |
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Total |
March 31, 2024 |
$ |
(1,314,987) |
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$ |
(6,863,627) |
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$ |
— |
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$ |
(3,150,000) |
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$ |
(11,328,614) |
Warrant exercise |
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— |
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324,789 |
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— |
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— |
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324,789 |
Fair value adjustments |
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116,775 |
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(3,267,571) |
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(1,055,600) |
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450,000 |
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(3,756,396) |
June 30, 2024 |
$ |
(1,198,212) |
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$ |
(9,806,409) |
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$ |
(1,055,600) |
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$ |
(2,700,000) |
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$ |
(14,760,221) |
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Three Months Ended June 30, 2023 |
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Contingent value rights |
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Earnout consideration |
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Total |
March 31, 2023 |
$ |
(7,652,715) |
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$ |
(2,975,000) |
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$ |
(10,627,715) |
Fair value adjustments |
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1,642,195 |
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(105,000) |
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1,537,195 |
June 30, 2023 |
$ |
(6,010,520) |
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$ |
(3,080,000) |
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$ |
(9,090,520) |
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Six Months Ended June 30, 2024 |
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Contingent value rights |
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Warrant liability |
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Embedded derivative liability |
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Earnout consideration |
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Total |
December 31, 2023 |
$ |
(1,691,072) |
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$ |
— |
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$ |
— |
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$ |
(3,500,000) |
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$ |
(5,191,072) |
Reclassification from equity |
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— |
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(10,592,220) |
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— |
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— |
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(10,592,220) |
Warrant exercise |
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— |
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324,789 |
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— |
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324,789 |
Fair value adjustments |
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492,860 |
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461,022 |
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(1,055,600) |
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800,000 |
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698,282 |
June 30, 2024 |
$ |
(1,198,212) |
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$ |
(9,806,409) |
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$ |
(1,055,600) |
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$ |
(2,700,000) |
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$ |
(14,760,221) |
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Six Months Ended June 30, 2023 |
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Contingent value rights |
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Earnout consideration |
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Total |
December 31, 2022 |
$ |
(7,402,715) |
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$ |
(2,150,000) |
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$ |
(9,552,715) |
Fair value adjustments |
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1,392,195 |
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(930,000) |
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462,195 |
June 30, 2023 |
$ |
(6,010,520) |
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$ |
(3,080,000) |
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$ |
(9,090,520) |
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