Quarterly report [Sections 13 or 15(d)]

Summary of Significant Accounting Policies (Tables)

v3.25.1
Summary of Significant Accounting Policies (Tables)
 3 Months Ended
Mar. 31, 2025
Summary of Significant Accounting Policies [Abstract]  
Schedule of Measured at Fair Value on a Recurring Basis

The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:

 

    Fair value     Quoted prices in active markets for identical liabilities (Level 1)     Significant other observable inputs (Level 2)     Significant unobservable inputs (Level 3)  
Assets:                        
Cash equivalents, March 31, 2025   $ 4,148,181     $ 4,148,181     $
     -
     $
-
  
Cash equivalents, December 31, 2024   $ 6,093,044     $ 6,093,044     $
-
     $
-
  
                                 
Liabilities:                                
Public warrant liabilities, March 31, 2025   $ 80,081     $ 80,081     $
-
     $
-
  
Representative warrant liabilities, March 31, 2025   $ 5,224     $
-
     $
-
     $ 5,224  
                                 
Liabilities:                                
Public warrant liabilities, December 31, 2024   $ 152,240     $ 152,240     $
-
     $
-
  
Representative warrant liabilities, December 31, 2024   $ 9,932     $
-
     $
-
     $ 9,932  
Schedule of Reconciliation of the Level 3 Representative Warrant Liabilities

The following tables present a reconciliation of the Level 3 Representative Warrants liabilities:

 

    Three Months Ended
March 31,		  
    2025     2024  
Representative warrant liabilities, January 1   $ 9,932     $ 5,166  
Issuances    
-
      
-
  
Exercises    
-
      
-
  
Change in fair value     (4,708 )     (1,636 )
Representative warrant liabilities, March 31   $ 5,224     $ 3,530  
Schedule of Net Loss Per Share The following outstanding shares issuable upon exercise of stock options and warrants and vesting of restricted stock units were excluded from the computation of diluted net loss per share for the periods presented because including them would have had an anti-dilutive effect:
    Three Months Ended
March 31,		  
    2025     2024  
Stock options     164,846       203,433  
Warrants     3,293,692       769,300  
Restricted stock units    
-
       2,502  
Schedule of Relevant Translation Rates

The relevant translation rates are as follows:

 

    As of
March 31,
2025 *		   As of
December 31,
2024		  
Closing rate, British Pound (GBP) to $USD at period end  
N/A
     1.2529  
Average rate, GBP to $USD for the period ended  
N/A
     1.2783  
Closing rate, Euro (EUR) to $USD at period end  
N/A
     1.0355  
Average rate, EUR to $USD for the period ended  
N/A
     1.0818  

 

* Not applicable due to the Company having no operating subsidiaries with functional currencies other than that of the parent company U.S. Dollar