Commitments and Contingencies	9 Months Ended
Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	10. Commitments and Contingencies Legal The Company is not currently involved with, and does not know of, any pending or threatening litigation against the Company. Consulting Agreement On November 1, 2023, the Company entered into a two-year agreement with a third party for consulting services. In connection with the agreement, the Company agreed to pay a monthly fee of $15,000. During the nine months ended September 30, 2024 and 2023, the Company recorded $135,000 and $0, respectively, related to these agreements. During the three months ended September 30, 2024 and 2023, the Company recorded $45,000 and $0, respectively, related to these agreements. As of September 30, 2024 and December 31, 2023, the balance accrued on these agreements was $10,000 and $0, respectively, and is included within accounts payable on the consolidated balance sheets. Collaborative Arrangements The Company has entered into collaborative arrangements with various parties for the cross promotion of technologies and services within certain geographical areas. These arrangements do not commit the Company or the counterpart to any financial obligation. If these arrangements result in a formal project, the Company and the counterparties will receive certain equity consideration in the project or be given first right of refusal to provide their products or services to the projects, as defined by the respective agreements. To date, these arrangements have not resulted in any formal projects. Hydrogen Technology Agreement The Company entered into a Hydrogen Technology Purchase Agreement with Intellectual Property License Agreement signed August 20, 2024, effective April 7, 2024, between Victory Clean Energy Inc. and Proton Power, Inc. The agreement is for the purchase of intellectual property rights to the production of hydrogen for a purchase price of $100,000,000 payable within five years from the effective date. Per the agreement, the Company has been granted an interim license to the intellectual property rights until the total purchase price has been paid. The Company shall pay to Proton Power, Inc. weekly payments totaling $86,000 until $25,000,000 has paid, provided that at the Company’s option, the Company may reduce the weekly amount to $50,000 from the effective date until November 15, 2024. The agreement can be terminated at any time by the Company with no further payment or obligation to Proton Power, Inc. The remaining $75,000,000 can be paid at or prior to the end of the five year term to complete the purchase. As of September 30, 2024, the Company has paid $1,015,000 in payments. The Company has license expense totaling $415,000 and $1,015,000 for the three and nine months ended September 30, 2024.

Commitments and Contingencies

9 Months Ended

Sep. 30, 2024

Commitments and Contingencies Disclosure [Abstract]

10. Commitments and Contingencies

Legal

The Company is not currently involved with, and does not know of, any pending or threatening litigation against the Company.

Consulting Agreement

On November 1, 2023, the Company entered into a two-year agreement with a third party for consulting services. In connection with the agreement, the Company agreed to pay a monthly fee of $15,000. During the nine months ended September 30, 2024 and 2023, the Company recorded $135,000 and $0, respectively, related to these agreements. During the three months ended September 30, 2024 and 2023, the Company recorded $45,000 and $0, respectively, related to these agreements. As of September 30, 2024 and December 31, 2023, the balance accrued on these agreements was $10,000 and $0, respectively, and is included within accounts payable on the consolidated balance sheets.

Collaborative Arrangements

The Company has entered into collaborative arrangements with various parties for the cross promotion of technologies and services within certain geographical areas. These arrangements do not commit the Company or the counterpart to any financial obligation. If these arrangements result in a formal project, the Company and the counterparties will receive certain equity consideration in the project or be given first right of refusal to provide their products or services to the projects, as defined by the respective agreements. To date, these arrangements have not resulted in any formal projects.

Hydrogen Technology Agreement

The Company entered into a Hydrogen Technology Purchase Agreement with Intellectual Property License Agreement signed August 20, 2024, effective April 7, 2024, between Victory Clean Energy Inc. and Proton Power, Inc. The agreement is for the purchase of intellectual property rights to the production of hydrogen for a purchase price of $100,000,000 payable within five years from the effective date.

Per the agreement, the Company has been granted an interim license to the intellectual property rights until the total purchase price has been paid. The Company shall pay to Proton Power, Inc. weekly payments totaling $86,000 until $25,000,000 has paid, provided that at the Company’s option, the Company may reduce the weekly amount to $50,000 from the effective date until November 15, 2024. The agreement can be terminated at any time by the Company with no further payment or obligation to Proton Power, Inc. The remaining $75,000,000 can be paid at or prior to the end of the five year term to complete the purchase.

As of September 30, 2024, the Company has paid $1,015,000 in payments. The Company has license expense totaling $415,000 and $1,015,000 for the three and nine months ended September 30, 2024.