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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2023
Summary of Significant Accounting Policies [Abstract]  
Schedule of Allowance for Expected Credit Losses The Company recorded allowance for expected credit losses as follows:
Balance - December 31, 2021  $13,000 
Additions to credit losses allowance   2,918,869 
Balance - December 31, 2022   2,931,869 
Additions to credit losses allowance   4,488,686 
Less: Credit losses written off   (6,933,213)
Balance - December 31, 2023  $487,342 

 

Schedule of Estimated Fair Value of Warrants The Company calculated the estimated fair value of warrants on the date of issuance and at each subsequent reporting date using the following assumptions:
   For the
Year Ended
December 31,
2023
   For the
Year Ended
December 31,
2022
 
Risk-free interest rate  3.88% - 4.51%   4.06% - 4.32% 
Contractual term  1.5 – 4.5 years   1.75 – 4.75 years 
Dividend yield  0%  0%
Expected volatility  126% - 151.2%   88% - 99.5% 
Schedule of Warrant and Preferred Investment Option Liability Measured at Fair Value Using Significant Unobservable Inputs (Level 3) The table below provides a reconciliation of the beginning and ending balances for the warrant and preferred investment option liability which is measured at fair value using significant unobservable inputs (Level 3):
Balance, January 1, 2022  $4,801,929 
Fair value of warrant and preferred investment option liability at issuance   37,687,895 
Fair value of warrant and preferred investment option liability upon exercise   (9,610,346)
Change in the fair value of warrant and preferred investment option liability   (16,763,205)
Balance, December 31, 2022  $16,116,273 
Balance, January 1, 2023  $16,116,273 
Fair value of warrant and preferred investment option liability at issuance   9,916,393 
Fair value of warrant and preferred investment option liability exercised at time of inducement   (2,530,760)
Change in the fair value of warrant and preferred investment option liability   (19,381,313)
Balance, December 31, 2023  $4,120,593 

 

Schedule of Potential Dilutive Securities Potentially dilutive securities that are not included in the calculation of diluted net loss per share because their effect is anti-dilutive are as follows (in common equivalent shares):
   Year Ended 
   December 31,
2023
   December 31,
2022
 
Warrants and preferred investment options   525,751    178,840 
Options and restricted stock units   20,785    20,789 
Total anti-dilutive weighted average shares   546,536    199,629