SALES OF COMMON STOCK (Details Narrative) - USD ($) |
12 Months Ended | ||||
---|---|---|---|---|---|
Dec. 18, 2024 |
May 21, 2024 |
Dec. 31, 2024 |
Dec. 31, 2023 |
May 31, 2024 |
|
Aggregate gross proceeds | $ 40,638,000 | ||||
Warrants and rights outstanding | 188,038 | 188,038 | |||
Proceeds from sale of stock | 4,581,282 | ||||
Measurement Input, Price Volatility [Member] | |||||
Warrants and rights outstanding, measurement input | 58.51 | 58.78 | |||
Measurement Input, Risk Free Interest Rate [Member] | |||||
Warrants and rights outstanding, measurement input | 4.43 | 4.53 | |||
Measurement Input, Expected Term [Member] | |||||
Warrants and rights outstanding, term | 5 years | 5 years | |||
Common Stock [Member] | |||||
Stock issued, shares | 38,749 | 185,549 | |||
Placement Agents [Member] | |||||
Stock issuance cost paid | $ 1,200,000 | ||||
Cash fee, percentage | 6.00% | ||||
Placement Agents [Member] | Common Stock [Member] | |||||
Stock issuance cost paid | $ 80,000 | ||||
Placement Agents [Member] | Warrant [Member] | |||||
Stock issuance costs incurred | 1,544,000 | ||||
Cash proceeds from issuance of stock | $ 18,456,000 | ||||
Common Stock [Member] | |||||
Stock issued, shares | 4,581,282 | ||||
Aggregate gross proceeds | $ 4,000 | ||||
Common Stock [Member] | Placement Agents [Member] | |||||
Warrants and rights outstanding | 61,538 | ||||
Warrant [Member] | Placement Agents [Member] | |||||
Sale of stock, description | purchase an aggregate of 126,500 shares of Common Stock (the “Warrant Shares”), equal to 5.0% of the number of Shares sold in the offering, at an exercise price per share equal to $11.50, which exercise price is equal to approximately 115% of the price per share of the shares sold in the Offering. The Underwriter’s Warrants have a term of five years, are exercisable at any time and from time to time, in whole or in part, during the five (5) year period commencing on December 19, 2024, the closing date of the Offering, and are exercisable via “cashless exercise” in certain circumstances. | purchase an aggregate of 61,538 shares of Common Stock (the “Warrant Shares”), an amount equal to 3.0% of the number of Shares sold in the registered direct offering. The Placement Agents’ Warrants have an exercise price per share equal to $12.19, which is equal to approximately 125% of the price per share of the Shares sold in the Offering. Neither the Placement Agents’ Warrants nor the Warrant Shares have been registered under the Registration Statement or otherwise. The Placement Agents’ Warrants have a term of five years, are exercisable at any time and from time to time, in whole or in part, during the four and one-half (4 ½) year period commencing 180 days from the closing date of the Offering which was May 24, 2024, and are exercisable via “cashless exercise” in certain circumstances. | |||
Fair value of warrants | $ 695,000 | $ 331,000 | |||
Securities Purchase Agreement [Member] | |||||
Sale of stock, per share | $ 9.75 | ||||
Aggregate gross proceeds | $ 20,000,000 | ||||
Securities Purchase Agreement [Member] | Common Stock [Member] | |||||
Stock issued, shares | 2,051,282 | ||||
Underwriting Agreement [Member] | |||||
Stock issued, shares | 2,200,000 | ||||
Sale of stock, per share | $ 10.00 | ||||
Stock issuance cost paid | $ 1,771,000 | ||||
Cash fee, percentage | 7.00% | ||||
Warrants and rights outstanding | 330,000 | ||||
Proceeds from sale of stock | 2,530,000 | ||||
Proceeds from sale of stock, total | $ 25,300,000 | ||||
Reimbursed offering amount | 95,000 | ||||
Underwriting Agreement [Member] | Warrant [Member] | |||||
Stock issuance cost paid | 1,897,000 | ||||
Stock issuance costs incurred | 2,092,000 | ||||
Cash proceeds from issuance of stock | $ 23,208,000 | ||||
Underwriting Agreement [Member] | Common Stock [Member] | |||||
Warrants and rights outstanding | 126,500 |