Quarterly report pursuant to Section 13 or 15(d)

Debt (Tables)

v3.24.1.1.u2
Debt (Tables)
 3 Months Ended
Mar. 31, 2024
Debt Disclosure [Abstract]  
Schedule of debt
The Company’s convertible debt consists of the following:
As of March 31, 2024 As of December 31, 2023
Total principal value of convertible note - related party, net of discount $ 5,000,000  $ 5,000,000 
Unamortized debt discount (379,947) (610,749)
Unamortized debt issuance costs (10,850) (17,253)
Carrying value of total convertible debt - related party $ 4,609,203  $ 4,371,998 
Schedule of interest expense
The Company’s interest expense consists of the following:
Three Months Ended
March 31,
2024 2023
Related party interest expense – stated rate $ 124,658  $ 15,952 
Legal judgment interest expense 75,073  — 
Other interest expense —  2,444 
Non-cash interest expense:
Amortization of debt discount 237,205  — 
$ 436,936  $ 18,396