Summary of Significant Accounting Policies and New Accounting Standards (Tables)
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12 Months Ended |
Dec. 31, 2025 |
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| Summary of Significant Accounting Policies and New Accounting Standards [Abstract] |
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| Schedule of Measured at Fair Value on a Recurring Basis |
The following table presents information about
the Company’s 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:
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Fair value measurements at reporting date using: |
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Fair value |
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Quoted prices in
active markets for
identical liabilities
(Level 1) |
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Significant other
observable inputs
(Level 2) |
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Significant
unobservable
inputs
(Level 3) |
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| Assets: |
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| Cash equivalents, December 31, 2025 |
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$ |
53,436,440 |
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$ |
53,436,440 |
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$ |
- |
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$ |
- |
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| Cash equivalents, December 31, 2024 |
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$ |
6,093,044 |
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$ |
6,093,044 |
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$ |
- |
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$ |
- |
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| Liabilities: |
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| Public warrant liabilities, December 31, 2025 |
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$ |
44,000 |
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$ |
44,000 |
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$ |
- |
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$ |
- |
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| Representative warrant liabilities, December 31, 2025 |
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$ |
2,871 |
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$ |
- |
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$ |
- |
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$ |
2,871 |
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| Warrant derivative liability, December 3, 2025 |
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$ |
3,842,857 |
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$ |
- |
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$ |
- |
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$ |
3,842,857 |
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| Liabilities: |
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| Public warrant liabilities, December 31, 2024 |
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$ |
152,240 |
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$ |
152,240 |
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$ |
- |
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$ |
- |
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| Representative warrant liabilities, December 31, 2024 |
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$ |
9,932 |
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$ |
- |
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$ |
- |
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$ |
9,932 |
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| Schedule of Reconciliation of the Level 3 Representative Warrant Liabilities |
The following table presents a reconciliation
of the Level 3 Representative Warrant liabilities:
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Twelve Months Ended
December 31, |
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2025 |
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2024 |
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| Representative warrant liabilities, January 1 |
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$ |
9,932 |
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$ |
5,166 |
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| Issuances |
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- |
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- |
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| Exercises |
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- |
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- |
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| Change in fair value |
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(7,061 |
) |
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4,766 |
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| Representative warrant liabilities, December 31 |
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$ |
2,871 |
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$ |
9,932 |
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The following table presents a reconciliation
of the Level 3 Derivative Warrant liabilities:
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Twelve Months Ended
December 31, |
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2025 |
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2024 |
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| Derivative warrant liabilities, January 1 |
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$ |
- |
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$ |
- |
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| Issuances |
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3,426,239 |
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- |
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| Exercises |
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- |
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- |
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| Change in fair value |
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416,619 |
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- |
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| Derivative warrant liabilities, December 31 |
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$ |
3,842,857 |
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$ |
- |
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| 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:
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Year Ended December 31, |
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2025 |
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2024 |
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| Stock options |
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1,685,843 |
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182,034 |
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| Warrants |
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9,080,120 |
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3,293,692 |
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| Restricted stock units |
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- |
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- |
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| Schedule of Relevant Translation Rates |
The relevant translation rates are as follows:
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As of December 31, |
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2025 |
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2024 |
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| Closing rate, British Pound (GBP) to $USD at period end |
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N/A |
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1.2529 |
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| Average rate, GBP to $USD for the period ended |
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N/A |
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1.2783 |
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| Closing rate, Euro (EUR) to $USD at period end |
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N/A |
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1.0355 |
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| Average rate, EUR to $USD for the period ended |
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N/A |
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1.0818 |
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| Closing rate, Australian Dollar (AUD) to $USD at period end |
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0.6669 |
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N/A |
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| Average rate, AUD to $USD for the period of subsidiary
inception to period end |
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0.6450 |
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N/A |
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