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EQUITY-BASED COMPENSATION (Tables)
 9 Months Ended
Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions
The following table provides the estimates included in the inputs to the Black-Scholes pricing model for the options granted:
Nine Months Ended September 30,
20242023
Expected term5.0 years5.0 years
Risk-free interest rate4.08 %3.65 %
Dividend yield0.00 %0.00 %
Volatility54.79 %50.26 %
Share-Based Payment Arrangement, Option, Activity
A summary of option activity for the nine months ended September 30, 2024 is as follows:
Number of
Shares		Weighted
Average
Exercise Price		Weighted
Average Grant
Date Fair Value		Weighted
Average
Remaining
Contractual Term
(in years)
Outstanding as of December 31, 20232,430,900$4.19 $— — 
Granted108,040$8.10 $4.18 — 
Forfeited(1,104,710)$3.75 $— — 
Exercised(47,830)$0.38 $— — 
Outstanding as of September 30, 20241,386,400$4.90 $2.58 8.59
Vested and expected to vest as of September 30, 20241,386,400$4.90 $2.58 8.59
Exercisable as of September 30, 2024884,634$4.38 $2.23 8.51
Fair Value Measurement Inputs and Valuation Techniques
The following table provides the estimates included in the inputs to the Black-Scholes pricing model for the AFG and compensatory warrants granted:
Nine Months Ended September 30,
20242023
Expected term3 years10 years
Risk-free interest rate4.46 %3.53 %
Dividend yield0.00 %0.00 %
Volatility55.14 %47.44 %
Share-Based Payment Arrangement, Expensed and Capitalized, Amount
The Company has recorded stock-based compensation related to its options and warrants in the accompanying unaudited condensed consolidated statements of operations as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
General and administrative$279,395 $420,856 $772,831 $4,705,324 
Research and development15,259 22,475 220,413 22,475 
$294,654 $443,331 $993,244 $4,727,799 
Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity
The following table summarizes activity related to restricted share awards:

Number of
Shares
Weighted
Average Grant
Date Fair Value
Nonvested at January 1, 2024— $— 
Granted417,376 $1.41 
Vested(417,376)$1.41 
Nonvested at September 30, 2024— $—