DERIVATIVE FINANCIAL INSTRUMENTS AND WARRANT LIABILITIES (Tables)
|
3 Months Ended |
Mar. 31, 2024 |
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| Derivative Instruments and Hedging Activities Disclosure [Abstract] |
|
| Schedule of assumptions |
| Schedule of assumptions | |
| | |
| |
| | |
May 24, 2023 | | |
August 3, 2023 | |
| Conversion Feature Liabilities | |
| | | |
| | |
| Company stock price on valuation date | |
$ | 157.50 | | |
$ | 123.975 | |
| Volatility (closing prices of guideline comparable public companies) | |
| 86.3% | | |
| 84.1% | |
| Conversion price per share | |
$ | 168.75 | | |
$ | 168.75 | |
| Note term (years) | |
| 0.76 | | |
| 0.56 | |
| Risk free interest rate | |
| 5.1% | | |
| 5.4% | |
| Warrant Liabilities | |
| | | |
| | |
| Company stock price on valuation date | |
$ | 157.50 | | |
$ | 123.975 | |
| Volatility (closing prices of guideline comparable public companies) | |
| 119.2% | | |
| 115.0% | |
| Conversion price per share | |
$ | 168.75 | | |
$ | 168.75 | |
| Warrant term (years) | |
| 4.25 | | |
| 4.06 | |
| Risk free interest rate | |
| 3.8% | | |
| 4.3% | |
|
| Schedule of fair value of derivative liabilities |
| Schedule of fair value of derivative liabilities | |
| | |
| |
| | |
May 24, 2023 | | |
August 3, 2023 | |
| Conversion Feature - New Notes | |
$ | 663,096 | | |
$ | 557,168 | |
| Conversion Feature - Series A Exchange Notes | |
| 970,805 | | |
| 416,672 | |
| Conversion Feature - Series B Exchange Notes | |
| 4,324,792 | | |
| 2,651,436 | |
| New Warrants | |
| 3,123,682 | | |
| 2,445,244 | |
| Exchange Warrants | |
| 9,287,474 | | |
| 7,191,535 | |
| Total | |
$ | 18,369,849 | | |
$ | 13,262,055 | |
|
| Schedule of warrants assumptions |
| Schedule of warrants assumptions | |
| | |
| |
| | |
December 31, 2023 | | |
March 31, 2024 | |
| | |
| | |
| |
| Company stock price on valuation date | |
$ | 4.46 | | |
$ | 0.68 | |
| Volatility | |
| 141.4% | | |
| 146.1% | |
| Risk free interest rate | |
| 3.78% | | |
| 4.14% | |
| Dividend yield | |
| 0.00% | | |
| 0.00% | |
| Warrant term (years) | |
| 4.9 | | |
| 4.63 | |
| Time to future transaction (years) | |
| 0.63 | | |
| 0.25 | |
| Future transaction probability | |
| 75% | | |
| 100% | |
|
| Schedule of estimated per share fair value of warrant liabilities |
| Schedule of estimated per share fair value of warrant
liabilities | |
| | |
| |
| | |
December 31, 2023 | | |
March 31, 2024 | |
| Series A Warrant | |
$ | 0.2970 | | |
$ | 2.0400 | |
| Series B Warrant | |
$ | 0.0799 | | |
$ | 0.5845 | |
|
| Schedule of warrant liabilities at fair value |
| Schedule of warrant liabilities at fair value | |
| |
| Series A Warrants | |
$ | 85,772 | |
| Series B Warrants | |
| 8,502,151 | |
| Total | |
$ | 8,587,923 | |
|
| Schedule of derivative activity |
| Schedule of derivative activity | |
| | |
| | |
| |
| | |
Series A | | |
Series B | | |
Total | |
| Fair value on December 31, 2023 | |
$ | 4,705,245 | | |
$ | 1,265,822 | | |
$ | 5,971,067 | |
| Gain on changes in fair value | |
| 12,733,180 | | |
| 7,271,162 | | |
| 20,004,342 | |
| Exercise of warrants | |
| (17,352,653 | ) | |
| (34,833 | ) | |
| (17,387,486 | ) |
| Balance at March 31, 2024 | |
$ | 85,772 | | |
$ | 8,502,151 | | |
$ | 8,587,923 | |
|