Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE MEASUREMENTS (Tables)

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FAIR VALUE MEASUREMENTS (Tables)
 6 Months Ended
Jun. 30, 2024
Fair Value Disclosures [Abstract]  
Schedule of fair value warrant liability
                               
    Amount at
Fair Value		     Level 1     Level 2     Level 3  
June 30, 2024                                
Liabilities                                
Warrant liability – Public Warrants   $ 2,399,430     $ 2,399,430     $ -     $ -  
Warrant liability – Private Placement Warrants     2,159,658       -       -       2,159,658  
Convertible promissory notes - related party     168,100       -       -       168,100  
Derivative liability - promissory note - related party redemption feature     16,175       16,175       -       -  
    $ 4,743,363     $ 2,415,605     $ -     $ 2,327,758  
December 31, 2023                                
Liabilities                                
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
               
   

As of
June 30,

2024

    

As of
December 31,

2023

  
Stock price   $ 11.14     $ 10.76  
Exercise price   $ 11.50     $ 11.50  
Dividend yield     - %     - %
Expected term (in years)     5.25       5.50  
Volatility     5.3 %     5.9 %
Risk-free rate     4.24 %     3.78 %
Fair value   $ 0.24     $ 0.03  
Schedule of fair value of the Promissory Notes
                                                               
    As of
April 29,
2024
(Initial
Measurement)		     As of
May 14,
2024
(Initial
Measurement)		     As of
May 31,
2024
(Initial
Measurement)		     As of
June 18,
2024
(Initial
Measurement)		     As of
June 24,
2024
(Initial
Measurement)		     As of
June 27,
2024
(Initial
Measurement)		     As of
June 30,
2024		     As of
December 31,
2023		  
Warrant fair value   $ 0.25     $ 0.20     $ 0.20     $ 0.20     $ 0.20     $ 0.20     $ 0.24     $ 0.03  
Exercise price   $ 1.00     $ 1.00     $ 1.00     $ 1.00     $ 1.00     $ 1.00     $ 1.00     $ 1.00  
Dividend yield     - %     - %     - %     - %     - %     - %     - %     - %
Expected term (in years)     0.18       0.37       0.37       0.37       0.37       0.37       0.34       0.51  
Warrant volatility     326.8 %     267.9 %     267.9 %     267.9 %     267.9 %     267.9 %     246.7 %     283.1 %
Risk-free rate     5.50 %     5.40 %     5.40 %     5.40 %     5.40 %     5.40 %     5.40 %     5.30 %
Schedule of fair value financial instruments
       
Fair value as of December 31, 2022 - Private Placement Warrants   $ 1,439,771  
Change in fair value     269,958  
Fair value as of March 31, 2023 - Private Placement Warrants   $ 1,709,729  
Change in fair value   $ (809,872 )
Fair value as of June 30, 2023 - Private Placement Warrants   $ 899,857  
         
Fair value as of December 31, 2023 - Level 3 investments   $ 325,457  
Change in fair value of Private Placement Warrants     1,079,829  
Change in fair value of convertible promissory notes - related party     24,200  
Fair value as of March 31, 2024 - Level 3 investments   $ 1,429,486  
Change in fair value of Private Placement Warrants     809,872  
Initial value of draw on convertible promissory note - related party on April 29, 2024     45,500  
Initial value of draw on convertible promissory note - related party on May 14, 2024     4,550  
Initial value of draw on convertible promissory note - related party May 31, 2024     4,550  
Initial value of draw on convertible promissory note - related party June 18, 2024     4,550  
Initial value of draw on convertible promissory note - related party June 24, 2024     4,550  
Initial value of draw on convertible promissory note - related party June 27, 2024     36,400  
Change in fair value of convertible promissory notes - related party     (11,700 )
Fair value as of June 30, 2024 - Level 3 investments   $ 2,327,758