FAIR VALUE MEASUREMENTS (Tables)
|
3 Months Ended |
Mar. 31, 2024 |
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| Fair Value Disclosures [Abstract] |
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| Schedule of fair value warrant liability |
| Schedule of fair value warrant liability |
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Amount at
Fair Value |
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Level 1 |
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Level 2 |
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Level 3 |
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| March 31, 2024 |
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| Liabilities |
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| Warrant liability – Public Warrants |
|
$ |
1,499,643 |
|
|
$ |
1,499,643 |
|
|
$ |
- |
|
|
$ |
- |
|
| Warrant liability – Private Placement Warrants |
|
|
1,349,786 |
|
|
|
- |
|
|
|
- |
|
|
|
1,349,786 |
|
| Convertible promissory notes - related party |
|
|
79,700 |
|
|
|
- |
|
|
|
- |
|
|
|
79,700 |
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| Derivative liability - promissory note - related party redemption feature |
|
|
9,928 |
|
|
|
9,928 |
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|
|
- |
|
|
|
- |
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| |
|
$ |
2,939,057 |
|
|
$ |
1,509,571 |
|
|
$ |
- |
|
|
$ |
1,429,486 |
|
| December 31, 2023 |
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| Liabilities |
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| Warrant liability – Public Warrants |
|
$ |
299,929 |
|
|
$ |
299,929 |
|
|
$ |
- |
|
|
$ |
- |
|
| Warrant liability – Private Placement Warrants |
|
|
269,957 |
|
|
|
- |
|
|
|
- |
|
|
|
269,957 |
|
| Convertible promissory notes - related party |
|
|
55,500 |
|
|
|
- |
|
|
|
- |
|
|
|
55,500 |
|
| Derivative liability - promissory note - related party redemption feature |
|
|
2,841 |
|
|
|
2,841 |
|
|
|
- |
|
|
|
- |
|
| |
|
$ |
628,227 |
|
|
$ |
302,770 |
|
|
$ |
- |
|
|
$ |
325,457 |
|
|
| Schedule of fair value of the private placement warrants |
| Schedule of fair value of the private placement warrants |
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As of
March 31,
2024 |
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|
As of
December 31,
2023 |
|
| Stock price |
|
$ |
10.94 |
|
|
$ |
10.76 |
|
| Exercise price |
|
$ |
11.50 |
|
|
$ |
11.50 |
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| Dividend yield |
|
|
- |
% |
|
|
- |
% |
| Expected term (in years) |
|
|
5.25 |
|
|
|
5.50 |
|
| Volatility |
|
|
5.6 |
% |
|
|
5.9 |
% |
| Risk-free rate |
|
|
4.12 |
% |
|
|
3.78 |
% |
| Fair value |
|
$ |
0.15 |
|
|
$ |
0.03 |
|
|
| Schedule of fair value of the Promissory Notes |
| Schedule of fair value of the Promissory Notes |
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As of
March 31,
2024 |
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|
As of
December 31,
2023 |
|
| Warrant fair value |
|
$ |
0.15 |
|
|
$ |
0.03 |
|
| Exercise price |
|
$ |
1.00 |
|
|
$ |
1.00 |
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| Dividend yield |
|
|
- |
% |
|
|
- |
% |
| Expected term (in years) |
|
|
0.26 |
|
|
|
0.51 |
|
| Warrant volatility |
|
|
328.3 |
% |
|
|
283.1 |
% |
| Risk-free rate |
|
|
5.50 |
% |
|
|
5.30 |
% |
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| Schedule of fair value financial instruments |
| Schedule of fair value financial instruments |
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|
|
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| Fair value as of December 31, 2022 - Private Placement Warrants |
|
$ |
1,439,771 |
|
| Change in fair value |
|
|
269,958 |
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| Fair value as of March 31, 2023 - Private Placement Warrants |
|
$ |
1,709,729 |
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| |
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| Fair value as of December 31, 2023 - Level 3 investments |
|
$ |
325,457 |
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| Change in fair value of Private Placement Warrants |
|
|
1,079,829 |
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| Change in fair value of convertible promissory notes |
|
|
24,200 |
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| Fair value as of March 31, 2024 - Level 3 investments |
|
$ |
1,429,486 |
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