Quarterly report [Sections 13 or 15(d)]

Stockholders??? Equity (Deficit) (Tables)

v3.25.4
Stockholders’ Equity (Deficit) (Tables)
6 Months Ended
Jun. 30, 2025
Equity [Abstract]  
Schedule of fair values and allocation of net proceeds

 

    Relative Fair Value    

 

Percentage

 
Series L Convertible Preferred Stock     3,688,000       37.7 %
Warrants     6,089,000       62.3 %
Total     9,777,000       100.0 %

 

      Allocation of Net Proceeds      

Percentage

 
Mezzanine equity     2,025,000       37.7 %
Additional paid in capital     3,389,000       62.3 %
Total     5,411,000       100.0 %
Schedule of Fair Value Greenshoe Rights Liability

The change in the Greenshoe Rights liability measured at fair value for the six months ended June 30, 2025 is as follows:

    Greenshoe Rights  
       
Balance, December 31, 2024   $ -  
Loss on initial recognition of Greenshoe Rights liability     28,736,000  
Balance, June 30, 2025   $ 28,736,000