Cover
Cover - shares | 3 Months Ended | |
Mar. 31, 2024 | May 10, 2024 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Mar. 31, 2024 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2024 | |
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 001-39569 | |
Entity Registrant Name | SAFETY SHOT, INC. | |
Entity Central Index Key | 0001760903 | |
Entity Tax Identification Number | 83-2455880 | |
Entity Incorporation, State or Country Code | DE | |
Entity Address, Address Line One | 1061 E. Indiantown Road | |
Entity Address, Address Line Two | Suite 110 | |
Entity Address, City or Town | Jupiter | |
Entity Address, State or Province | FL | |
Entity Address, Postal Zip Code | 33477 | |
City Area Code | (561) | |
Local Phone Number | 244-7100 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Elected Not To Use the Extended Transition Period | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 51,702,941 | |
Common Stock, $.001 par value per share | ||
Title of 12(b) Security | Common Stock, $.001 par value per share | |
Trading Symbol | SHOT | |
Security Exchange Name | NASDAQ | |
Warrants to purchase shares of common stock | ||
Title of 12(b) Security | Warrants to purchase shares of common stock | |
Trading Symbol | SHOTW | |
Security Exchange Name | NASDAQ |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Assets | ||
Cash | $ 2,046,355 | $ 3,833,349 |
Marketable Securities | 242,613 | 842,976 |
Inventory | 403,763 | 795,824 |
Account receivable | 5,153 | 5,585 |
Prepaid expenses and deposits | 1,590,181 | 1,469,733 |
Other current assets | 56,364 | 86,174 |
Total current assets | 4,344,429 | 7,690,824 |
Right of use assets | 435,623 | 479,027 |
Intangible assets, net of amortization | 4,409,207 | 4,511,057 |
Fixed assets, net of depreciation | 25,621 | 28,272 |
Total assets | 9,214,880 | 12,709,180 |
Liabilities and Shareholders’ Equity | ||
Accounts Payable | 1,053,812 | 1,493,809 |
Convertible notes | 1,569,669 | 1,500,000 |
Current portion of lease liability | 226,030 | 214,752 |
Accrued interest | 233,561 | 269,152 |
Accrued liabilities | 264,564 | 60,450 |
Covid - 19 SBA Loan | 49,289 | 48,974 |
Total current Liabilities | 3,396,925 | 3,587,137 |
Long-term portion lease liability | 247,441 | 304,907 |
Total liabilities | 3,644,366 | 3,892,044 |
Preferred stock, $0.001 par value, 100,000 shares authorized of which none are issued and outstanding | ||
Common stock, $.001 par value, 100,000,000 shares authorized, of which 49,220,273 and 45,634,154 shares issued and outstanding as of March 31, 2024 and December 31, 2023 | 49,220 | 45,634 |
Additional paid-in capital | 86,458,794 | 73,726,987 |
Common stock payable | 417,886 | 725,230 |
Accumulated deficits | (81,355,386) | (65,680,715) |
Total Shareholders’ Equity | 5,570,514 | 8,817,136 |
Total Liabilities and Shareholders’ Equity | 9,214,880 | 12,709,180 |
Affiliated Entity [Member] | ||
Assets | ||
Investment in SRM Entertainment, Inc. | $ 657,183 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares | Mar. 31, 2024 | Dec. 31, 2023 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 100,000 | 100,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 49,220,273 | 45,634,154 |
Common stock, shares outstanding | 49,220,273 | 45,634,154 |
Condensed Consolidated Statemen
Condensed Consolidated Statement of Operations (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Revenue | ||
Sales | $ 170,732 | $ 34,788 |
Cost of Sales | 2,383,285 | 23,965 |
Gross profit | (2,212,553) | 10,823 |
Operating expense | ||
General and administrative expenses | 12,956,552 | 1,244,953 |
Total operating expenses | 12,956,552 | 1,244,953 |
Other income / (expense) | ||
Interest income | 4,032 | 369 |
Interest expense | (61,831) | (58,552) |
Gain on sale of marketable securities | 151,388 | |
Unrecognized loss on equity investment | (599,155) | |
Other income / (expense) | (99) | |
Total other income (expense) | (505,566) | (58,282) |
Loss from operations | (15,674,671) | (1,292,412) |
Loss from discontinued operations | (15,762) | |
Net loss | $ (15,674,671) | $ (1,308,174) |
Net (loss) per share: | ||
Basic | $ (0.33) | $ (0.05) |
Weighted average number of shares | ||
Basic | 47,435,503 | 25,551,752 |
Condensed Consolidated Statem_2
Condensed Consolidated Statement of Shareholders' Equity (Unaudited) - USD ($) | Common Stock [Member] | Common Stock Payable [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance at Dec. 31, 2022 | $ 22,339 | $ 477,000 | $ 53,763,929 | $ (50,597,674) | $ 3,665,594 |
Balance, shares at Dec. 31, 2022 | 22,338,888 | ||||
Common Stock issued in Public Offering | $ 4,316 | 3,446,359 | 3,450,675 | ||
Common Stock issued in Public Offering, shares | 4,315,787 | ||||
Net loss | (1,308,174) | (1,308,174) | |||
Balance at Mar. 31, 2023 | $ 26,655 | 477,000 | 57,210,288 | (51,905,848) | 5,808,095 |
Balance, shares at Mar. 31, 2023 | 26,654,675 | ||||
Balance at Dec. 31, 2022 | $ 22,339 | 477,000 | 53,763,929 | (50,597,674) | 3,665,594 |
Balance, shares at Dec. 31, 2022 | 22,338,888 | ||||
Balance at Dec. 31, 2023 | $ 45,634 | 725,230 | 73,726,987 | (65,680,715) | 8,817,136 |
Balance, shares at Dec. 31, 2023 | 45,634,154 | ||||
Net loss | (15,674,671) | (15,674,671) | |||
Common Stock issued from stock payable for services | $ 100 | (113,500) | 113,400 | ||
Common Stock issued from stock payable for services, shares | 100,000 | ||||
Common Stock issued from stock payable on extinguishment of debt | $ 262 | (245,044) | 244,782 | ||
Common Stock issued from stock payable on extinguishment of debt, shares | 262,000 | ||||
Common Stock due for services | 48,400 | 48,400 | |||
Common Stock due on warrant conversions | 2,800 | 2,800 | |||
Common Stock issued for services | $ 450 | 614,050 | 614,500 | ||
Common Stock issued for services, shares | 450,000 | ||||
Common Stock issued for warrant conversions | $ 2,774 | 3,789,441 | 3,792,215 | ||
Common Stock issued for warrant conversions, shares | 2,774,119 | ||||
Fair value of options granted | 7,970,134 | 7,970,134 | |||
Balance at Mar. 31, 2024 | $ 49,220 | $ 417,886 | $ 86,458,794 | $ (81,355,386) | $ 5,570,514 |
Balance, shares at Mar. 31, 2024 | 49,220,273 |
Condensed Consolidated Statem_3
Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Cash flows from operating activities: | |||
Net (loss) | $ (15,674,671) | $ (1,292,412) | |
Stock Based compensation | 662,900 | ||
Depreciation & Amortization | 104,501 | 4,382 | |
Fair value of options granted | 7,970,134 | ||
Stock due on warrant conversion | 2,800 | ||
Unrealized loss on equity investment | 599,155 | ||
Unrealized loss on marketable securities | 130,066 | ||
Net gain on sale of marketable securities | (280,395) | ||
Adjustments to reconcile net income to net cash provided by (used in) operating activities | |||
Prepaid expenses and deposits | (90,638) | (164,483) | |
Right of Entry asset | 43,404 | 40,059 | |
Accounts receivable | 432 | 16,716 | |
Inventory | 392,061 | 22,395 | |
Accounts payable | (439,997) | 35,844 | |
Accrued liabilities | 238,507 | 205,365 | |
Lease liability | (46,188) | (36,885) | |
Net cash (used in) continuing operating activities | (6,387,929) | (1,169,019) | $ (10,515,314) |
Discontinued operations | |||
Loss from discontinued operations | (15,762) | ||
Reclassification of assets and liabilities held for sale | 33,982 | ||
Net cash provided by discontinue operations | 18,220 | ||
Cash flows from investing activities: | |||
Proceeds from sale of marketable securities | 808,720 | ||
Net cash provided by investing activities | 808,720 | ||
Cash flows from financing activities: | |||
Proceeds from public offering | 3,450,675 | ||
Proceeds from warrant conversions | 3,792,215 | ||
Loans to affiliates | (300,000) | ||
Net cash (used in) financing activities | 3,792,215 | 3,150,675 | |
Net (decrease) in cash and cash equivalents | (1,786,994) | 1,999,876 | |
Cash and cash equivalents at the beginning of the period | 3,833,349 | 1,477,552 | 1,477,552 |
Cash and cash equivalents at the end of the period | 2,046,355 | 3,477,428 | $ 3,833,349 |
SUPPLEMENTAL CASH FLOW INFORMATION: | |||
Cash paid for interest | |||
Cash paid for income taxes | |||
Non-cash item: | |||
Common stock issued from stock payable on note extinguishment | $ 245,044 |
Organization and Business Opera
Organization and Business Operations | 3 Months Ended |
Mar. 31, 2024 | |
Accounting Policies [Abstract] | |
Organization and Business Operations | Note 1 - Organization and Business Operations Safety Shot Inc. (NASDAQ: SHOT) was formerly known as Jupiter Wellness Inc. In August 2023 the Company acquired certain assets of GBB Drink Lab Inc which included the blood alcohol reduction product Safety Shot, an over-the-counter, dietary supplement that can lower blood alcohol content by supporting its metabolism. Concurrently with the purchase, the Company changed its name to Safety Shot, Inc. and changed its NASDAQ trading symbol to SHOT. The Company launched Safety Shot in December 2023. To achieve our mission, we rely on a team of highly skilled and experienced professionals who are committed to advancing our vision of health and wellness. Our team includes scientists, researchers, product developers, and business experts who collaborate to create new products and enhance existing ones. We also partner with industry leaders and organizations to leverage the latest technologies and expand our reach. We generate revenue through various channels, including the sales of our OTC and consumer products, as well as licensing royalties. Our products are available through various retailers and e-commerce platforms, making them accessible to a broad customer base. Additionally, we collaborate with other companies to license our intellectual property, creating additional revenue streams and expanding our global presence. Going Concern Consideration As of March 31, 2024 and December 31, 2023, the Company had accumulated deficits of $ 81,355,386 and $ 65,680,715 , respectively, and cash flow used in operations of $ 6,387,929 and $ 10,515,314 for the three months ended Maech 31, 2024 and year ended December 31, 2023. The Company has incurred and expects to continue to incur significant costs in pursuit of its expansion and development plans. At March 31, 2024 and December 31, 2023, the Company had $ 2,046,355 and $ 3,833,349 , respectively, in cash and working capital of $ 947,504 and $ 4,303,687 , respectively. These conditions have raised substantial doubt about the Company’s ability to continue as a going concern as noted by our auditors, M&K CPAS, PLLC. |
Significant Accounting Policies
Significant Accounting Policies Basis of Presentation | 3 Months Ended |
Mar. 31, 2024 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies Basis of Presentation | Note 2 - Significant Accounting Policies Basis of Presentation The accompanying consolidated financial statements are presented in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the rules and regulations of US Securities and Exchange Commission (“SEC”). The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Jupiter Wellness Investments, Inc., a Florida corporation, and for the period from January 1, 2022 to August 14, 2023, SRM Entertainment, Limited, a Hong Kong private limited company, which was sold effective August 14, 2023. All intercompany accounts and transactions have been eliminated. Equity Method for Investments Investments in unconsolidated affiliates, which the Company exerts significant influence but does not control or otherwise consolidate, are accounted for using the equity method. Equity method investments are initially recorded at cost. These investments are included in investment in joint ventures in the accompanying consolidated balance sheets. The Company’s share of the profits and losses from these investments is reported in loss from equity method joint venture in the accompanying consolidated statements of operations. The Company monitors its investments for other-than-temporary impairment by considering factors such as current economic and market conditions and the operating performance of the investees and records reductions in carrying values when necessary. Asset Purchases The Company accounts for an acquisitive transaction determined to be an asset purchase based on the cost accumulation and allocation method, under which the costs to purchase the asset or set of assets are allocated to the assets acquired. No Investments in Marketable Securities The Company’s Marketable Securities are considered Held-For-Trading (“HFT”) or Trading Assets. HTF- Trading securities are valued at their fair value when purchased/sold, and any unrealized gains or losses are recorded periodically on financial reporting dates as other income or loss. Emerging Growth Company Status The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act of 1933, as amended, (the “Securities Act”), as modified by the Jumpstart our Business Startups Act of 2012, (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used. Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents The Company considers all short-term investments with a maturity of three months or less when purchased to be cash and equivalents for purposes of the statement of cash flows. There were no Inventory Inventories are stated at the lower of cost or market. The Company periodically reviews the value of items in inventory and provides write-downs or write- offs of inventory based on its assessment of market conditions. Write-downs and write-offs are charged to cost of goods sold. Inventory is based upon the average cost method of accounting. During the three months ended March 31, 2024, the Company took a write down of certain raw materials and finished goods totaling $ 1,744,714 no Net Loss per Common Share Net income (loss) per common share is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Basic net income (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. If applicable, diluted earnings per share assume the conversion, exercise or issuance of all common stock instruments such as options, warrants, convertible securities and preferred stock, unless the effect is to reduce a loss or increase earnings per share. As such, options, warrants, convertible securities, and preferred stock are not considered in the calculations, as the impact of the potential common shares would be to decrease the loss per share. Schedule of Net Loss per Common Share 2024 2023 For the Three Months Ended March 31, 2024 2023 Numerator: $ (15,674,671 ) $ (1,308,174 ) Net (loss) $ (15,674,671 ) $ (1,308,174 ) Net (loss) Denominator: Denominator for basic earnings per share - Weighted-average common shares issued and outstanding during the period 47,435,503 25,551,752 Denominator for diluted earnings per share 47,435,503 25,551,752 Basic (loss) per share $ (0.33 ) $ (0.05 ) Diluted (loss) per share $ (0.33 ) $ (0.05 ) Fair Value of Financial Instruments The fair value of the Company’s assets and liabilities, which qualify as financial instruments under ASC Topic 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the accompanying balance sheet, primarily due to their short-term nature. Revenue Recognition The Company generates its revenue from the sale of its products directly to the end user or through a distributor (collectively the “customers”). The Company recognizes revenues by applying the following steps in accordance with FASB Accounting Standards Codification 606 “Revenue from Contracts with Customers” (“ASC 606”). Under ASC 606, revenues are recognized when control of the promised goods or services are transferred to a customer, in an amount that reflects the consideration that the Company expects to receive in exchange for those goods or services. The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements: ● identify the contract with a customer; ● identify the performance obligations in the contract; ● determine the transaction price; ● allocate the transaction price to performance obligations in the contract; and ● recognize revenue as the performance obligation is satisfied. The Company’s performance obligations are satisfied when goods or products are shipped on a FOB shipping point basis as title passes when shipped. Our products are generally paid in advance of shipment or standard net 30 days and we offer no specific right of return, refund or warranty related to our products except for cases of defective products of which there have been none to date. Accounts Receivable and Credit Risk Accounts receivable are generated from sales of the Company’s products. The Company provides an allowance for doubtful collections, which is based upon a review of outstanding receivables, historical collection information, and existing economic conditions. During the three months ended March 31, 2024 and year ended December 31, 2023, the Company recognized no Impairment of Long-Lived Assets We evaluate long-lived assets (including intangible assets) for impairment whenever events or changes in circumstances indicate that the carrying amount of a long-lived asset may not be recoverable. An asset is considered impaired if its carrying amount exceeds the undiscounted future net cash flow the asset is expected to generate. Intangible Assets Intangible assets consist of patents and trademarks, purchased customer contracts, purchased customer and merchant relationships, purchased trade names, purchased technology, and non-compete agreements. Intangible assets are amortized over the period of estimated benefit using the straight-line method and estimated useful lives ranging from one to twenty years. No significant residual value is estimated for intangible assets. We evaluate long-lived assets (including intangible assets) for impairment whenever events or changes in circumstances indicate that the carrying amount of a long-lived asset may not be recoverable. An asset is considered impaired if its carrying amount exceeds the undiscounted future net cash flow the asset is expected to generate. The Company’s evaluation of its long-lived assets resulted in no Research and Development The Company accounts for research and development costs in accordance with the Accounting Standards Codification subtopic 730-10, Research and Development (“ASC 730-10”). Under ASC 730-10, all research and development costs must be charged to expense as incurred. Accordingly, internal research and development costs are expensed as incurred. Third-party research and developments costs are expensed when the contracted work has been performed or as milestone results have been achieved. Company-sponsored research and development costs related to both present and future products are expensed in the period incurred. The Company incurred research and development expenses of $ 141,494 33,148 Stock Based Compensation The Company recognizes compensation costs to employees under FASB Accounting Standards Codification 718 “Compensation - Stock Compensation” (“ASC 718”). Under ASC 718, companies are required to measure the compensation costs of share-based compensation arrangements based on the grant- date fair value and recognize the costs in the financial statements over the period during which employees are required to provide services. Share-based compensation arrangements include stock options and warrants. As such, compensation cost is measured on the date of grant at their fair value. Such compensation amounts, if any, are amortized over the respective vesting periods of the option grant. On October 24, 2018, the inception date, the Company adopted ASU No. 2018-07 “Compensation - Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting.” These amendments expand the scope of Topic 718, Compensation - Stock Compensation (which currently only includes share-based payments to employees) to include share-based payments issued to non-employees for goods or services. Consequently, the accounting for share-based payments to nonemployees and employees will be substantially aligned. Income Taxes The Company accounts for income taxes under ASC 740 Income Taxes (“ASC 740”). ASC 740 requires the recognition of deferred tax assets and liabilities for both the expected impact of differences between the financial statement and tax basis of assets and liabilities and for the expected future tax benefit to be derived from tax loss and tax credit carry forwards. ASC 740 additionally requires a valuation allowance to be established when it is more likely than not that all or a portion of deferred tax assets will not be realized. ASC 740 also clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements and prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. ASC 740 also provides guidance on derecognition, classification, interest and penalties, accounting in interim period, disclosure and transition. Based on the Company’s evaluation, it has been concluded that there are no significant uncertain tax positions requiring recognition in the Company’s financial statements. Since the Company was incorporated on October 24, 2018, the evaluation was performed for 2018 tax year which would be the only period subject to examination. The Company believes that its income tax positions and deductions would be sustained on audit and does not anticipate any adjustments that would result in a material changes to its financial position. The Company’s policy for recording interest and penalties associated with audits is to record such items as a component of income tax expense. The Company’s deferred tax asset at December 31, 2023 consists of net operating loss carry forwards calculated using federal and state effective tax rates equating to approximately $ 8,658,484 8,658,484 Related parties The Company follows subtopic 850-10 of the FASB Accounting Standards Codification for the identification of related parties and disclosure of related party transactions. Pursuant to Section 850-10-20 the related parties include (i) affiliates of the Company; (ii) entities for which investments in their equity securities would be required, absent the election of the fair value option under the Fair Value Option Subsection of Section 825–10–15, to be accounted for by the equity method by the investing entity; (iii) trusts for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of management; (iv) principal owners of the Company; (v) management of the Company; (vi) other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests; and (vii) other parties that can significantly influence the management or operating policies of the transacting parties or that have an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests. The consolidated financial statements shall include disclosures of material related party transactions, other than compensation arrangements, expense allowances, and other similar items in the ordinary course of business. However, disclosure of transactions that are eliminated in the preparation of consolidated or combined financial statements is not required in those statements. The disclosures shall include: a. the nature of the relationship(s) involved; b. a description of the transactions, including transactions to which no amounts or nominal amounts were ascribed, for each of the periods for which income statements are presented, and such other information deemed necessary to an understanding of the effects of the transactions on the financial statements; c. the dollar amounts of transactions for each of the periods for which income statements are presented and the effects of any change in the method of establishing the terms from that used in the preceding period; and d. amounts due from or to related parties as of the date of each balance sheet presented and, if not otherwise apparent, the terms and manner of settlement. Recent Accounting Pronouncements The company evaluated issued pronouncements and did not identify any recent pronouncements that apply to the Company. |
Accounts Receivable
Accounts Receivable | 3 Months Ended |
Mar. 31, 2024 | |
Credit Loss [Abstract] | |
Accounts Receivable | Note 3 - Accounts Receivable At March 31, 2024 and December 31, 2023, the Company had accounts receivable of $ 5,153 5,585 |
Prepaid Expenses and Deposits
Prepaid Expenses and Deposits | 3 Months Ended |
Mar. 31, 2024 | |
Prepaid Expenses And Deposits | |
Prepaid Expenses and Deposits | Note 4 - Prepaid Expenses and Deposits At March 31, 2024, the Company had prepaid expenses and deposits totaling $ 1,590,181 1,136,562 269,658 164,051 1,469,733 1,073,823 56,335 339,575 |
Inventory
Inventory | 3 Months Ended |
Mar. 31, 2024 | |
Inventory Disclosure [Abstract] | |
Inventory | Note 5 - Inventory At March 31, 2024, the Company had inventory of $ 403,763 277,814 125,949 795,824 746,663 49,161 |
Marketable Securities
Marketable Securities | 3 Months Ended |
Mar. 31, 2024 | |
Cash and Cash Equivalents [Abstract] | |
Marketable Securities | Note 6 - Marketable Securities At December 31, 2022, the Company had invested $ 2,908,300 On May 2, 2023, JWAC’s stockholders approved JWAC’s business combination with Chijet Inc. and its affiliates including Chijet Motor Company Inc. (collectively “Chijet”), at its Special Meeting of Stockholders and closed the transaction on June 1, 2023. As a result, on June 27, 2023, the Company received a total of 1,662,434 96,000 In May 2023, the Company purchased 48,000 508,800 18,200 36,330 At December 31, 2023 the Company, the Company held 1,200,821 842,976 271,679 238,834 At March 31, 2024, the Company held 530,881 242,613 669,940 151,578 |
Intangible Assets
Intangible Assets | 3 Months Ended |
Mar. 31, 2024 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets | Note 8 - Intangible Assets Safety Shot Acquisition On July 10, 2023, the Company entered into an Asset Purchase Agreement (the “APA”) with GBB Drink Lab, Inc. (“GBB”) under the terms of which the Company acquired certain assets of GBB (the “Purchased Assets”) which included the patents for a blood alcohol reduction product Safety Shot, an over-the- counter dietary supplement that can lower blood alcohol content by supporting its metabolism. The purchase price was 5,000,000 2,468,500 200,000 Clarifying the Definition of a business, 2,668,500 5,500,000 11,000,000 1.00 1.00 2,500,000 14,000,000 1.40 3,000,000 2,000,000 175,000 (i). The patents will be amortized over twelve years (the remaining 12-year life of the patents). During the three months ended March 31, 2024 and year ended December 31, 2023, the Company recognized $ 101,850 157,443 Summary of transaction and carrying value: Summary of Transaction and Carrying Value Purchase price: Allocation of Purchase price: Cash $ 2,200,000 Patents $ 4,668,500 Fair value of stock issued 2,468,500 Amortization (259,293 ) $ 4,668,500 Balance $ 4,409,207 |
Accrued Interest and Liabilitie
Accrued Interest and Liabilities | 3 Months Ended |
Mar. 31, 2024 | |
Payables and Accruals [Abstract] | |
Accrued Interest and Liabilities | Note 9 – Accrued Interest and Liabilities At March 31, 2024 and December 31, 2023, the Company had accrued interest on the convertible notes below of $ 233,561.00 269,152 At March 31, 2024 and December 31, 2023, the Company had accrued liabilities totaling $ 264,564 236,030 60,450 40,681 |
Convertible Notes Payable _ Rel
Convertible Notes Payable – Related Parties | 3 Months Ended |
Mar. 31, 2024 | |
Debt Disclosure [Abstract] | |
Convertible Notes Payable – Related Parties | Note 10 - Convertible Notes Payable – Related Parties On April 20, 2022, the Company entered into a $ 1,500,000 500,000 1,500,000 500,000 1,100,000 360,000 250,000 The Notes have an original issuance discount of five percent ( 5 10,000 8 2.79 5 2.79 During the year ended December 31, 2023, the Notes were amended to change the conversion price of the Notes and exercise price of all outstanding warrants was reduced to $ 0.93 2.79 500,000 6.00 1,460,000 2.79 800,000 1.00 923,603 196,730 1,120,333 430,331 500,000 69,669 537,634 On January 24, 2024, the Notes were amended to change the due date to June 30, 2024 without additional consideration. The following table sets forth a summary of the principal balances of the Company’s convertible promissory notes activity for the three months ended March 31, 2024 and years ended December 31, 2023 and 2022: Schedule of Convertible promissory Notes Principal Balance, December 31, 2021 $ - Issuance of the Notes 2,000,000 Principal Balance, December 31, 2022 $ 2,000,000 Conversion of a portion of one of the notes (430,331 ) Principal Balance, March 31, 2024 and December 31, 2023 $ 1,069,669 Interest expense related to the above Notes for the three months ended March 31, 2024 and 2023 was $ 30,982 39,013 |
Covid-19 SBA Loans
Covid-19 SBA Loans | 3 Months Ended |
Mar. 31, 2024 | |
Unusual or Infrequent Items, or Both [Abstract] | |
Covid-19 SBA Loans | Note 11 – Covid-19 SBA Loans During the year ended December 31, 2020, the Company applied for and received $ 55,700 30 3.75 49,289 48,974 |
Capital Structure
Capital Structure | 3 Months Ended |
Mar. 31, 2024 | |
Equity [Abstract] | |
Capital Structure | Note 12 - Capital Structure Preferred Stock - 100,000 0.001 No Common Stock - 100,000,000 0.001 49,220,273 45,634,154 Year ended December 31, 2023 issuances: Shares issued in Public Offering Concurrently to the PIPE Agreement and Offering of Stock Warrants (see Note 13 below), the Company entered into a Securities Purchase Agreement (the “RD Agreement”) with certain purchasers, pursuant to which on January 23, 2023, 4,315,787 0.001 0.70 4.1 0.95 3,450,675 Shares issued for services During the year ended December 31, 2023, the Company entered into Consulting Agreements under the terms of which the Company issued 1,675,000 677,925 Shares issued for stock payable During the year ended December 31, 2023, the Company issued 300,000 192,000 450,000 440,230 Shares issued for purchase of assets In July 2023, the Company entered into an Asset Purchase Agreement for the purchase of intellectual property relating to Safety Shot (see Note 9). The purchase price included the issuance of 5,000,000 Shares issued for exercise of warrants related to promissory notes In August 2023, the Company issued a total of 1,200,000 1,118,400 Shares issued for exercise of warrants related to the Pipe transaction Beginning in August 2023, the certain holders of warrants related to the Company’s IPO and PIPE transaction above, exercised a portion of their warrant holdings and the Company issued a total 10,266,845 8,887,837 Shares issued for conversion of promissory note In December 2023, a $ 500,000 537,634 The following table sets forth the issuances of the Company’s shares of common stock for the year ended December 31, 2023 as follows: Schedule of Stock Holders Balance December 31, 2022 22,338,888 Public offering 4,315,787 Shares issued for stock payable 300,000 Shares issued for services 1,675,000 Stock issued for asset purchase 5,000,000 Stock issued for conversion of warrants related to Notes 1,200,000 Stock issued in connection with note conversion 537,634 Stock issued for conversion of warrants related to IPO 10,266,845 Balance December 31, 2023 45,634,154 Three months ended March 31, 2024 issuances: Shares issued for services During the three months ended March 31, 2024, the Company issued a total of 450,000 shares of common stock for services valued at $ 614,500 Shares issued warrant conversions During the three months ended March 31, 2024, the Company issued a total of 2,774,119 3,792,215 Common Stock Payable During the three months ended March 31, 2024, the Company issued a total of 100,000 113,500 262,000 245,044 During the three months ended March 31, 2024, the Company entered into a consulting agreement that called for 20,000 48,400 During the three months ended March 31, 2024, the Company received a warrant conversion notice for 2,000 share of common stock. These shares were issued subsequent to March 31, 2024 and were recorded as Common Stock Payable at March 31, 2024 and valued at $ 2,800 The following table sets forth the issuances of the Company’s shares of common stock for the three months ended March 31, 2024 as follows: Balance December 31, 2023 45,634,154 Shares issued for stock payable 362,000 Shares issued for services 450,000 Stock issued for conversion of warrants 2,774,119 Balance March 31, 2024 49,220,273 |
Warrants and Options
Warrants and Options | 3 Months Ended |
Mar. 31, 2024 | |
Share-Based Payment Arrangement [Abstract] | |
Warrants and Options | Note 13 - Warrants and Options Warrants Convertible Note Warrants 2,260,000 1.00 2.79 Schedule of Fair Value Using Black Scholes Method Reporting Relative Term Exercise Market Price on Grant Volatility Risk-free Date Fair Value (Years) Price Date Percentage Rate 04/20/22 $ 706,977 5 $ 2.79 $ 1.11 281 % 0.0287 11/11/22 $ 937,207 5 $ 1.00 $ 1.28 211 % 0.0432 PIPE Warrants: On January 19, 2023, in a private placement, the Company entered into a Securities Purchase Agreement (the “PIPE Agreement”) with certain purchasers, for the issuance of 8,631,574 0.125 1.00 4,315,787 4,315,787 Schedule of Fair Value Using Black Scholes Method Reporting Relative Term Exercise Market Price on Grant Volatility Risk-free Date Fair Value (Years) Price Date Percentage Rate 1/23/2023 $ 2,311,614 3 $ 1.00 $ 0.65 287 % 0.0388 1/23/2023 $ 2,602,996 5 $ 1.00 $ 0.65 371 % 0.0361 During the year ended December 31, 2023, the Company entered into four Investor Relations Consulting Agreements under the terms of which the Company issued a total of 1,000,000 1.00 1.40 364,960 Schedule of Fair Value Using Black Scholes Method Relative Market Price on Reporting Date Fair Value Term (Years) Exercise Price Grant Date Volatility Percentage Risk-free Rate 08/10 08/21/23 $ 364,960 5 $ 1.00 1.40 $ 0.87 1.18 151 % 0.0421 .0465 10/05/23 $ 545,703 5 $ 1.00 6.00 $ 1.05 152 % .0468 The following tables summarize all warrants outstanding as of March 31, 2024 and December 31, 2023, and the related changes during the period. Exercise price is the weighted average for the respective warrants at end of period. Summary of Warrant Outstanding Number of Warrants Exercise Price Balance at December 31, 2022 15,958,126 $ 1.74 Warrants issued in Public Offering 9,260,554 .093 Warrants issued for services 1,000,000 1.23 Warrants exercised in connection with Convertible notes (1,200,000 ) .093 Warrants exercised in connection with public offering (10,266,845 ) .093 Balance at December 31, 2023 14,751,835 $ 2.06 Warrants exercised in connection with public offering (2,774,119 ) 1.40 Balance at March 31, 2024 11,977,719 $ 2.21 Warrants Exercisable at March 31, 2024 11,977,719 $ 2.21 Stock Options During the year ended December 31, 2023, the Company entered into five employment and director agreements under the terms of which the Company issued 400,000 five 0.49 1.13 50,000 three 0.46 202,638 39,444 During the three months ended March 31, 2024, the Company entered into seven consulting agreements under the terms of which the Company issued 4,745,000 2.19 2.37 five ten years 10,278,150 2,588,196 Also during the three months ended March 31, 2024, the Company granted 5,420,000 1.57 1.96 6,633,848 5,381,938 The fair value of these warrants was measured using the Black-Scholes valuation model at the grant date. The table below sets forth the assumptions for Black-Scholes valuation model on the respective reporting date. Schedule of Fair Value Using Black Scholes Method Number of Term Market Price on Grant Volatility Reporting Date Options (Years) Exercise Price Date Percentage Fair Value 7/10 8/18/23 450,000 3 5 $ 0.46 1.13 $ 0.46 1.13 158 160 % $ 271,547 1/17 3/27/24 4,745,000 5 $ 2.19 2.37 $ 2.19 2.37 155 162 % $ 10,278,150 1//16 3/11/24 5,420,000 5 10 $ 1.57 1.96 $ 1.57 1.96 119 121 % $ 6,633,848 |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2024 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Note 14 - Commitments and Contingencies The Company entered into an office lease Effective July 1, 2021. The primary term of the lease is five years with one renewal option for an additional three years. Minimum annual lease payments for the primary term and one renewal are as follows: Schedule of Minimum Annual Lease Payments Primary Period Amount Amount During Renewal Period Amount July 1 to June 30, 2022 $ 180,456 July 1 to June 30, 2027 $ 240,662 July 1 to June 30, 2023 $ 201,260 July 1 to June 30, 2028 $ 247,882 July 1 to June 30, 2024 $ 224,330 July 1 to June 30, 2029 $ 255,319 July 1 to June 30, 2025 $ 229,312 July 1 to June 30, 2026 $ 233,653 Under the new standard for lease reporting, the Company recorded a Right of Use Asset (“ROU”) and an offsetting lease liability of $ 870,406 8 435,623 226,030 247,441 479,977 214,752 304,907 Additionally, the Company recognized accreted interest expense of $ 10,086 49,010 53,490 213,960 Legal Proceedings . The Company may be subject to legal proceedings and claims arising from contracts or other matters from time to time in the ordinary course of business. Management is not aware of any pending or threatened litigation where the ultimate disposition or resolution could have a material adverse effect on its financial position, results of operations or liquidity. On November 30, 2023, Intracoastal Capital, LLC (“Intracoastal”) filed a lawsuit against the Company in the New York County Supreme Court, alleging that (i) the Company is in breach of a common stock warrant issued to Intracoastal on or about July 26, 2021, and (ii) that the Company should be ordered by the court to deliver to Intracoastal 330,619 2 The Company answered Intracoastal’s complaint on or about January 26, 2024. The Company intends to vigorously defend itself against Intracoastal’s claims and does not believe that the Litigation’s ultimate disposition or resolution will have a material adverse effect on the Company’s financial position, results of operations or liquidity. On December 8, 2023, the Company filed a lawsuit against Capybara Research (“Capybara”), Igor Appelboom (“Appelboom,” and together with Capybara Research, the “Capybara Parties”) and Accretive Capital LLC d/b/a Benzinga (“Capybara Parties and Accretive, together, the “Capybara Defendants”) in the United States District Court for the Southern District of New York. The Company’s complaint alleges that (i) the Capybara Parties are liable for securities fraud to the Company for making false representations that were made to manipulate the price of the Company’s common stock to the benefit of the Capybara Parties, and (ii) the Capybara Defendants are liable for tortious interference with prospective business relations to the Company by misleading the investing public to—absent a legitimate basis and, instead, for the benefit of the Capybara Defendants—take short positions against Company common stock to wrongfully depress the price of the same. On March 18, 2024, the United District Court for the Southern District of New York, awarded the Company a Default Judgment in its lawsuit against Capybara Research and Igor Appelboom for Securities Fraud and Tortious Interference for the defendants’ defamatory, unfounded and malicious article titled, Safety Shot Exposed $SHOT, Boca Raton Snake Oil: Unraveling the Fraud behind the Drink and Its Dubious Origins. On September 5, 2023, “Sabby” Volatility Warrant Master Fund Ltd. filed a lawsuit against the Company in the federal district court for the Southern District of New York case captioned Sabby Volatility Warrant Master Fund Ltd. v. Jupiter Wellness, Inc., No.1:23-cv-07874-KPF (the “Litigation”). Sabby’s initial complaint in the Litigation alleges that the Company’s delayed spin-off and distribution of the common stock of “SRM” Entertainment. Inc. give rise to claims of breach-of-contact, promissory estoppel, and negligent misrepresentation. On November 10, 2023, Jupiter sought judicial permission to move to dismiss Sabby’s complaint, arguing that Sabby had no legal right to the delayed distribution occurring on the original record date, and that regardless, no law requires the Company to compensate Sabby for the costs of covering its short position against the Company. In response, the Court allowed the parties to bypass that dismissal motion briefing so long as Sabby filed an amended complaint by December 15, 2023. Sabby seeks compensatory damages estimated to exceed $ 500,000 On February 9, 2024, “Sabby” Volatility Warrant Master Find Ltd. sued the Company in the federal district court for the Southern District of New York, case captioned, Sabby Volatility Warrant Master Fund Ltd. v. Safety Shot, Inc., No. 1:24-cv-920-NRB (the “Litigation”). Sabby’s initial complaint alleges that the Company has improperly refused to honor Sabby’s exercise of a Warrant to acquire 2,105,263 750,000 600,000 On January 16, 2024, 3i LP (“3i”), filed a lawsuit against the Company in the Supreme Court of the State of New York in the County of New York, case captioned, 3i LP v. Safety Shot, Inc. No. 650196/24 (the “Litigation”). The case stems from the Company’s alleged denial of 3i’s attempt to exercise certain warrants and states causes of action for actual damages and liquidated damages in an amount of approximately $ 380,000 On January 19, 2024, Coachella Music Festival, LLC filed a lawsuit against the Company in the federal district court for the Central District of California, Case No. 2:24-cv-537 (the “Litigation”). The Litigation asserts causes of action for Trademark Infringement under 15 U.S.C. Section 1114; False Designation of Origin under 15 U.S.C. Section 1125; False Advertising under 15 U.S.C. Section 1125; violations of Cal. Bus. & Prof. Code Sections 17200 & 17500; Inducement of Trespass; Conversion; and Trespass to Chattels. The Litigation sought injunctive relief, profits resulting from the Company’s alleged infringement, the value of a Coachella beverage sponsorship, costs of corrective advertising, attorney’s fees and punitive damages. On or about February 26, 2024, the parties reached a settlement in this matter. As part of the settlement, the Company agreed to terminate all activities in connection with the Festival, and stipulated to the entry of a permanent injunction and final judgment and a monetary payment that does not have a material adverse effect on the Company’s financial position, results of operations or liquidity. On January 10, 2024, Bigger Capital fund, L.P. (“Bigger”), filed a lawsuit against the Company in the Supreme Court for the State of New York, Case No. 650148/2024 (the “Litigation”). The Litigation stems from the Company’s warrant to purchase 1,656,050 3 4 On or about January 18, 2024, Alta Partners, LLC, (“Alta”) filed a lawsuit against the Company in the federal district court for the Southern District of New York, case captioned, Alta Partners, LLC v. Safety Shot, Inc. No. 24-cv-373 (S.D.N.Y.) (the “Litigation”). The Litigation stems from the Company’s warrant to purchase shares of Company common stock and asserts causes of action for Breach of Contract Breach of the Implied Covenant of Good Faith and Fair Dealing (in the alternative) and violation of Section 11 of the Securities Act of 1933. The Litigation seeks compensatory general and liquidated damages in an amount to be proven at trial. The Company intends to defend itself vigorously against Alta’s claims and does not believe that the Litigation’s ultimate disposition or resolution will have a material adverse effect on the Company’s financial position, results of operations or liquidity. The Company may be subject to legal proceedings and claims arising from contracts or other matters from time to time in the ordinary course of business. Management is not aware of any pending or threatened litigation where the ultimate disposition or resolution could have a material adverse effect on its financial position, results of operations or liquidity. |
Subsequent Events
Subsequent Events | 3 Months Ended |
Mar. 31, 2024 | |
Subsequent Events [Abstract] | |
Subsequent Events | Note 15 - Subsequent Events Subsequent to March 31, 2024, the Company issued a total of 2,482,668 22,000 91,000 2,369,668 5,000,000 In accordance with ASC Topic 855-10, the Company has analyzed its operations subsequent to March 31, 2024, to the date these financial statements were issued and has determined that it does not have any additional material subsequent events to disclose in these financial statements. |
Significant Accounting Polici_2
Significant Accounting Policies Basis of Presentation (Policies) | 3 Months Ended |
Mar. 31, 2024 | |
Accounting Policies [Abstract] | |
Equity Method for Investments | Equity Method for Investments Investments in unconsolidated affiliates, which the Company exerts significant influence but does not control or otherwise consolidate, are accounted for using the equity method. Equity method investments are initially recorded at cost. These investments are included in investment in joint ventures in the accompanying consolidated balance sheets. The Company’s share of the profits and losses from these investments is reported in loss from equity method joint venture in the accompanying consolidated statements of operations. The Company monitors its investments for other-than-temporary impairment by considering factors such as current economic and market conditions and the operating performance of the investees and records reductions in carrying values when necessary. |
Asset Purchases | Asset Purchases The Company accounts for an acquisitive transaction determined to be an asset purchase based on the cost accumulation and allocation method, under which the costs to purchase the asset or set of assets are allocated to the assets acquired. No |
Investments in Marketable Securities | Investments in Marketable Securities The Company’s Marketable Securities are considered Held-For-Trading (“HFT”) or Trading Assets. HTF- Trading securities are valued at their fair value when purchased/sold, and any unrealized gains or losses are recorded periodically on financial reporting dates as other income or loss. |
Emerging Growth Company Status | Emerging Growth Company Status The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act of 1933, as amended, (the “Securities Act”), as modified by the Jumpstart our Business Startups Act of 2012, (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. |
Cash and Cash Equivalents | Cash and Cash Equivalents The Company considers all short-term investments with a maturity of three months or less when purchased to be cash and equivalents for purposes of the statement of cash flows. There were no |
Inventory | Inventory Inventories are stated at the lower of cost or market. The Company periodically reviews the value of items in inventory and provides write-downs or write- offs of inventory based on its assessment of market conditions. Write-downs and write-offs are charged to cost of goods sold. Inventory is based upon the average cost method of accounting. During the three months ended March 31, 2024, the Company took a write down of certain raw materials and finished goods totaling $ 1,744,714 no |
Net Loss per Common Share | Net Loss per Common Share Net income (loss) per common share is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Basic net income (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. If applicable, diluted earnings per share assume the conversion, exercise or issuance of all common stock instruments such as options, warrants, convertible securities and preferred stock, unless the effect is to reduce a loss or increase earnings per share. As such, options, warrants, convertible securities, and preferred stock are not considered in the calculations, as the impact of the potential common shares would be to decrease the loss per share. Schedule of Net Loss per Common Share 2024 2023 For the Three Months Ended March 31, 2024 2023 Numerator: $ (15,674,671 ) $ (1,308,174 ) Net (loss) $ (15,674,671 ) $ (1,308,174 ) Net (loss) Denominator: Denominator for basic earnings per share - Weighted-average common shares issued and outstanding during the period 47,435,503 25,551,752 Denominator for diluted earnings per share 47,435,503 25,551,752 Basic (loss) per share $ (0.33 ) $ (0.05 ) Diluted (loss) per share $ (0.33 ) $ (0.05 ) |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The fair value of the Company’s assets and liabilities, which qualify as financial instruments under ASC Topic 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the accompanying balance sheet, primarily due to their short-term nature. |
Revenue Recognition | Revenue Recognition The Company generates its revenue from the sale of its products directly to the end user or through a distributor (collectively the “customers”). The Company recognizes revenues by applying the following steps in accordance with FASB Accounting Standards Codification 606 “Revenue from Contracts with Customers” (“ASC 606”). Under ASC 606, revenues are recognized when control of the promised goods or services are transferred to a customer, in an amount that reflects the consideration that the Company expects to receive in exchange for those goods or services. The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements: ● identify the contract with a customer; ● identify the performance obligations in the contract; ● determine the transaction price; ● allocate the transaction price to performance obligations in the contract; and ● recognize revenue as the performance obligation is satisfied. The Company’s performance obligations are satisfied when goods or products are shipped on a FOB shipping point basis as title passes when shipped. Our products are generally paid in advance of shipment or standard net 30 days and we offer no specific right of return, refund or warranty related to our products except for cases of defective products of which there have been none to date. |
Accounts Receivable and Credit Risk | Accounts Receivable and Credit Risk Accounts receivable are generated from sales of the Company’s products. The Company provides an allowance for doubtful collections, which is based upon a review of outstanding receivables, historical collection information, and existing economic conditions. During the three months ended March 31, 2024 and year ended December 31, 2023, the Company recognized no |
Impairment of Long-Lived Assets | Impairment of Long-Lived Assets We evaluate long-lived assets (including intangible assets) for impairment whenever events or changes in circumstances indicate that the carrying amount of a long-lived asset may not be recoverable. An asset is considered impaired if its carrying amount exceeds the undiscounted future net cash flow the asset is expected to generate. |
Intangible Assets | Intangible Assets Intangible assets consist of patents and trademarks, purchased customer contracts, purchased customer and merchant relationships, purchased trade names, purchased technology, and non-compete agreements. Intangible assets are amortized over the period of estimated benefit using the straight-line method and estimated useful lives ranging from one to twenty years. No significant residual value is estimated for intangible assets. We evaluate long-lived assets (including intangible assets) for impairment whenever events or changes in circumstances indicate that the carrying amount of a long-lived asset may not be recoverable. An asset is considered impaired if its carrying amount exceeds the undiscounted future net cash flow the asset is expected to generate. The Company’s evaluation of its long-lived assets resulted in no |
Research and Development | Research and Development The Company accounts for research and development costs in accordance with the Accounting Standards Codification subtopic 730-10, Research and Development (“ASC 730-10”). Under ASC 730-10, all research and development costs must be charged to expense as incurred. Accordingly, internal research and development costs are expensed as incurred. Third-party research and developments costs are expensed when the contracted work has been performed or as milestone results have been achieved. Company-sponsored research and development costs related to both present and future products are expensed in the period incurred. The Company incurred research and development expenses of $ 141,494 33,148 |
Stock Based Compensation | Stock Based Compensation The Company recognizes compensation costs to employees under FASB Accounting Standards Codification 718 “Compensation - Stock Compensation” (“ASC 718”). Under ASC 718, companies are required to measure the compensation costs of share-based compensation arrangements based on the grant- date fair value and recognize the costs in the financial statements over the period during which employees are required to provide services. Share-based compensation arrangements include stock options and warrants. As such, compensation cost is measured on the date of grant at their fair value. Such compensation amounts, if any, are amortized over the respective vesting periods of the option grant. On October 24, 2018, the inception date, the Company adopted ASU No. 2018-07 “Compensation - Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting.” These amendments expand the scope of Topic 718, Compensation - Stock Compensation (which currently only includes share-based payments to employees) to include share-based payments issued to non-employees for goods or services. Consequently, the accounting for share-based payments to nonemployees and employees will be substantially aligned. |
Income Taxes | Income Taxes The Company accounts for income taxes under ASC 740 Income Taxes (“ASC 740”). ASC 740 requires the recognition of deferred tax assets and liabilities for both the expected impact of differences between the financial statement and tax basis of assets and liabilities and for the expected future tax benefit to be derived from tax loss and tax credit carry forwards. ASC 740 additionally requires a valuation allowance to be established when it is more likely than not that all or a portion of deferred tax assets will not be realized. ASC 740 also clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements and prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. ASC 740 also provides guidance on derecognition, classification, interest and penalties, accounting in interim period, disclosure and transition. Based on the Company’s evaluation, it has been concluded that there are no significant uncertain tax positions requiring recognition in the Company’s financial statements. Since the Company was incorporated on October 24, 2018, the evaluation was performed for 2018 tax year which would be the only period subject to examination. The Company believes that its income tax positions and deductions would be sustained on audit and does not anticipate any adjustments that would result in a material changes to its financial position. The Company’s policy for recording interest and penalties associated with audits is to record such items as a component of income tax expense. The Company’s deferred tax asset at December 31, 2023 consists of net operating loss carry forwards calculated using federal and state effective tax rates equating to approximately $ 8,658,484 8,658,484 |
Related parties | Related parties The Company follows subtopic 850-10 of the FASB Accounting Standards Codification for the identification of related parties and disclosure of related party transactions. Pursuant to Section 850-10-20 the related parties include (i) affiliates of the Company; (ii) entities for which investments in their equity securities would be required, absent the election of the fair value option under the Fair Value Option Subsection of Section 825–10–15, to be accounted for by the equity method by the investing entity; (iii) trusts for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of management; (iv) principal owners of the Company; (v) management of the Company; (vi) other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests; and (vii) other parties that can significantly influence the management or operating policies of the transacting parties or that have an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests. The consolidated financial statements shall include disclosures of material related party transactions, other than compensation arrangements, expense allowances, and other similar items in the ordinary course of business. However, disclosure of transactions that are eliminated in the preparation of consolidated or combined financial statements is not required in those statements. The disclosures shall include: a. the nature of the relationship(s) involved; b. a description of the transactions, including transactions to which no amounts or nominal amounts were ascribed, for each of the periods for which income statements are presented, and such other information deemed necessary to an understanding of the effects of the transactions on the financial statements; c. the dollar amounts of transactions for each of the periods for which income statements are presented and the effects of any change in the method of establishing the terms from that used in the preceding period; and d. amounts due from or to related parties as of the date of each balance sheet presented and, if not otherwise apparent, the terms and manner of settlement. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements The company evaluated issued pronouncements and did not identify any recent pronouncements that apply to the Company. |
Significant Accounting Polici_3
Significant Accounting Policies Basis of Presentation (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Accounting Policies [Abstract] | |
Schedule of Net Loss per Common Share | Schedule of Net Loss per Common Share 2024 2023 For the Three Months Ended March 31, 2024 2023 Numerator: $ (15,674,671 ) $ (1,308,174 ) Net (loss) $ (15,674,671 ) $ (1,308,174 ) Net (loss) Denominator: Denominator for basic earnings per share - Weighted-average common shares issued and outstanding during the period 47,435,503 25,551,752 Denominator for diluted earnings per share 47,435,503 25,551,752 Basic (loss) per share $ (0.33 ) $ (0.05 ) Diluted (loss) per share $ (0.33 ) $ (0.05 ) |
Intangible Assets (Tables)
Intangible Assets (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Summary of Transaction and Carrying Value | Summary of transaction and carrying value: Summary of Transaction and Carrying Value Purchase price: Allocation of Purchase price: Cash $ 2,200,000 Patents $ 4,668,500 Fair value of stock issued 2,468,500 Amortization (259,293 ) $ 4,668,500 Balance $ 4,409,207 |
Convertible Notes Payable _ R_2
Convertible Notes Payable – Related Parties (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Debt Disclosure [Abstract] | |
Schedule of Convertible promissory Notes | The following table sets forth a summary of the principal balances of the Company’s convertible promissory notes activity for the three months ended March 31, 2024 and years ended December 31, 2023 and 2022: Schedule of Convertible promissory Notes Principal Balance, December 31, 2021 $ - Issuance of the Notes 2,000,000 Principal Balance, December 31, 2022 $ 2,000,000 Conversion of a portion of one of the notes (430,331 ) Principal Balance, March 31, 2024 and December 31, 2023 $ 1,069,669 |
Capital Structure (Tables)
Capital Structure (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Equity [Abstract] | |
Schedule of Stock Holders | The following table sets forth the issuances of the Company’s shares of common stock for the year ended December 31, 2023 as follows: Schedule of Stock Holders Balance December 31, 2022 22,338,888 Public offering 4,315,787 Shares issued for stock payable 300,000 Shares issued for services 1,675,000 Stock issued for asset purchase 5,000,000 Stock issued for conversion of warrants related to Notes 1,200,000 Stock issued in connection with note conversion 537,634 Stock issued for conversion of warrants related to IPO 10,266,845 Balance December 31, 2023 45,634,154 The following table sets forth the issuances of the Company’s shares of common stock for the three months ended March 31, 2024 as follows: Balance December 31, 2023 45,634,154 Shares issued for stock payable 362,000 Shares issued for services 450,000 Stock issued for conversion of warrants 2,774,119 Balance March 31, 2024 49,220,273 |
Warrants and Options (Tables)
Warrants and Options (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |
Summary of Warrant Outstanding | Summary of Warrant Outstanding Number of Warrants Exercise Price Balance at December 31, 2022 15,958,126 $ 1.74 Warrants issued in Public Offering 9,260,554 .093 Warrants issued for services 1,000,000 1.23 Warrants exercised in connection with Convertible notes (1,200,000 ) .093 Warrants exercised in connection with public offering (10,266,845 ) .093 Balance at December 31, 2023 14,751,835 $ 2.06 Warrants exercised in connection with public offering (2,774,119 ) 1.40 Balance at March 31, 2024 11,977,719 $ 2.21 Warrants Exercisable at March 31, 2024 11,977,719 $ 2.21 |
Share-Based Payment Arrangement, Option [Member] | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |
Schedule of Fair Value Using Black Scholes Method | The fair value of these warrants was measured using the Black-Scholes valuation model at the grant date. The table below sets forth the assumptions for Black-Scholes valuation model on the respective reporting date. Schedule of Fair Value Using Black Scholes Method Number of Term Market Price on Grant Volatility Reporting Date Options (Years) Exercise Price Date Percentage Fair Value 7/10 8/18/23 450,000 3 5 $ 0.46 1.13 $ 0.46 1.13 158 160 % $ 271,547 1/17 3/27/24 4,745,000 5 $ 2.19 2.37 $ 2.19 2.37 155 162 % $ 10,278,150 1//16 3/11/24 5,420,000 5 10 $ 1.57 1.96 $ 1.57 1.96 119 121 % $ 6,633,848 |
Convertible Note Warrants [Member] | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |
Schedule of Fair Value Using Black Scholes Method | Schedule of Fair Value Using Black Scholes Method Reporting Relative Term Exercise Market Price on Grant Volatility Risk-free Date Fair Value (Years) Price Date Percentage Rate 04/20/22 $ 706,977 5 $ 2.79 $ 1.11 281 % 0.0287 11/11/22 $ 937,207 5 $ 1.00 $ 1.28 211 % 0.0432 |
PIPE Warrants [Member] | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |
Schedule of Fair Value Using Black Scholes Method | Schedule of Fair Value Using Black Scholes Method Reporting Relative Term Exercise Market Price on Grant Volatility Risk-free Date Fair Value (Years) Price Date Percentage Rate 1/23/2023 $ 2,311,614 3 $ 1.00 $ 0.65 287 % 0.0388 1/23/2023 $ 2,602,996 5 $ 1.00 $ 0.65 371 % 0.0361 |
Common Warrants [Member] | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |
Schedule of Fair Value Using Black Scholes Method | Schedule of Fair Value Using Black Scholes Method Relative Market Price on Reporting Date Fair Value Term (Years) Exercise Price Grant Date Volatility Percentage Risk-free Rate 08/10 08/21/23 $ 364,960 5 $ 1.00 1.40 $ 0.87 1.18 151 % 0.0421 .0465 10/05/23 $ 545,703 5 $ 1.00 6.00 $ 1.05 152 % .0468 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Minimum Annual Lease Payments | The Company entered into an office lease Effective July 1, 2021. The primary term of the lease is five years with one renewal option for an additional three years. Minimum annual lease payments for the primary term and one renewal are as follows: Schedule of Minimum Annual Lease Payments Primary Period Amount Amount During Renewal Period Amount July 1 to June 30, 2022 $ 180,456 July 1 to June 30, 2027 $ 240,662 July 1 to June 30, 2023 $ 201,260 July 1 to June 30, 2028 $ 247,882 July 1 to June 30, 2024 $ 224,330 July 1 to June 30, 2029 $ 255,319 July 1 to June 30, 2025 $ 229,312 July 1 to June 30, 2026 $ 233,653 |
Organization and Business Ope_2
Organization and Business Operations (Details Narrative) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Accounting Policies [Abstract] | |||
Accumulated deficits | $ 81,355,386 | $ 65,680,715 | |
Cash flow used in operations | 6,387,929 | $ 1,169,019 | 10,515,314 |
Cash | 2,046,355 | 3,833,349 | |
Working capital | $ 947,504 | $ 4,303,687 |
Schedule of Net Loss per Common
Schedule of Net Loss per Common Share (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Accounting Policies [Abstract] | ||
Net (loss) | $ (15,674,671) | $ (1,308,174) |
Denominator for basic earnings per share - Weighted-average common shares issued and outstanding during the period | 47,435,503 | 25,551,752 |
Denominator for diluted earnings per share | 47,435,503 | 25,551,752 |
Basic (loss) per share | $ (0.33) | $ (0.05) |
Diluted (loss) per share | $ (0.33) | $ (0.05) |
Significant Accounting Polici_4
Significant Accounting Policies Basis of Presentation (Details Narrative) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Accounting Policies [Abstract] | |||
Goodwill | $ 0 | $ 0 | |
Cash equivalents | 0 | 0 | |
Inventory write-downs expired | 1,744,714 | $ 0 | |
Allowance for doubtful collections | 0 | 0 | |
Impairment of goodwill | 0 | 0 | |
Research and development expense | $ 141,494 | $ 33,148 | |
Operating loss carry forwards | 8,658,484 | ||
Operating loss carry forwards valuation allowance | $ 8,658,484 |
Accounts Receivable (Details Na
Accounts Receivable (Details Narrative) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Credit Loss [Abstract] | ||
Accounts receivable | $ 5,153 | $ 5,585 |
Prepaid Expenses and Deposits (
Prepaid Expenses and Deposits (Details Narrative) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Prepaid Expenses And Deposits | ||
Prepaid expenses and deposits | $ 1,590,181 | $ 1,469,733 |
Prepaid orders | 1,136,562 | 339,575 |
Prepaid insurance | 269,658 | 56,335 |
Raw materials | $ 164,051 | $ 1,073,823 |
Inventory (Details Narrative)
Inventory (Details Narrative) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Inventory Disclosure [Abstract] | ||
Inventory | $ 403,763 | $ 795,824 |
Inventory raw materials | 277,814 | 746,663 |
Inventory finished goods | $ 125,949 | $ 49,161 |
Marketable Securities (Details
Marketable Securities (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||
Jun. 27, 2023 | Oct. 31, 2023 | Sep. 30, 2023 | Aug. 31, 2023 | May 31, 2023 | Mar. 31, 2024 | Dec. 31, 2023 | Dec. 31, 2022 | |
Fair value | $ 242,613 | $ 842,976 | ||||||
Common Stock [Member] | ||||||||
Share purchased | 18,200 | 18,200 | ||||||
Share purchased, value | $ 36,330 | $ 36,330 | ||||||
Chijet [Member] | ||||||||
Fair value | $ 242,613 | $ 842,976 | ||||||
Number of shares sold | 669,940 | 271,679 | ||||||
Realized gain on sale of shares | $ 151,578 | $ 238,834 | ||||||
Chijet [Member] | Restricted Common Stock [Member] | ||||||||
Restricted common stock issued conversion | 1,662,434 | |||||||
Common stock considered as trading securities | 530,881 | 1,200,821 | ||||||
Chijet [Member] | Common Stock [Member] | ||||||||
Restricted common stock issued conversion | 96,000 | |||||||
Share purchased | 48,000 | |||||||
Share purchased, value | $ 508,800 | |||||||
Jupiter Wellness Sponsor LLC [Member] | ||||||||
Investment | $ 2,908,300 |
Summary of Transaction and Carr
Summary of Transaction and Carrying Value (Details) - USD ($) | 1 Months Ended | 3 Months Ended | 12 Months Ended | |
Jul. 10, 2023 | Dec. 31, 2023 | Mar. 31, 2024 | Dec. 31, 2023 | |
Finite-Lived Intangible Assets [Line Items] | ||||
Cash | $ 2,200,000 | |||
Balance | $ 4,511,057 | |||
Fair value of stock issued | 2,468,500 | |||
Amortization | (101,850) | $ (157,443) | ||
Balance | $ 4,511,057 | $ 4,409,207 | $ 4,511,057 | |
Patents [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Balance | 4,668,500 | |||
Fair value of stock issued | $ 2,000,000 | |||
Amortization | (259,293) | |||
Balance | $ 4,409,207 |
Intangible Assets (Details Narr
Intangible Assets (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||
Jul. 10, 2023 | Dec. 31, 2023 | Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | Dec. 31, 2022 | |
Finite-Lived Intangible Assets [Line Items] | ||||||
Purchase price, shares | 5,000,000 | |||||
Purchase price, amount | $ 2,468,500 | |||||
Restricted common stock, value | 200,000 | |||||
Purchase price, amount | $ 192,000 | |||||
Purchased assets, consideration | $ 5,500,000 | |||||
Cash proceeds | 11,000,000 | |||||
Share price | $ 202,638 | $ 10,278,150 | $ 202,638 | |||
Payment in cash | 2,500,000 | |||||
Proceeds from warrants | 14,000,000 | $ 3,792,215 | ||||
Exercise price | $ 2.79 | $ 2.79 | ||||
Additional cash | $ 3,000,000 | |||||
Amortization expense | 101,850 | $ 157,443 | ||||
GBB Drink Lab Inc [Member] | ||||||
Finite-Lived Intangible Assets [Line Items] | ||||||
Additional payment | $ 175,000 | |||||
Warrant [Member] | ||||||
Finite-Lived Intangible Assets [Line Items] | ||||||
Share price | $ 1 | |||||
Common Stock [Member] | ||||||
Finite-Lived Intangible Assets [Line Items] | ||||||
Share price | 1 | |||||
Exercise price | $ 1.40 | |||||
Patents [Member] | ||||||
Finite-Lived Intangible Assets [Line Items] | ||||||
Purchase price, amount | $ 2,000,000 | |||||
Purchase price, amount | $ 2,668,500 | |||||
Amortization expense | 259,293 | |||||
Restricted Common Stock [Member] | ||||||
Finite-Lived Intangible Assets [Line Items] | ||||||
Purchase price, amount | $ 2,468,500 |
Accrued Interest and Liabilit_2
Accrued Interest and Liabilities (Details Narrative) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Payables and Accruals [Abstract] | ||
Accrued interest on convertible notes | $ 233,561 | $ 269,152 |
Accrued liabilities | 264,564 | 60,450 |
Financed insurance premiums | $ 236,030 | $ 40,681 |
Schedule of Convertible promiss
Schedule of Convertible promissory Notes (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2024 | Dec. 31, 2023 | Dec. 31, 2022 | |
Short-Term Debt [Line Items] | |||
Convertible promissory notes, Beginning balance | $ 1,069,669 | ||
Conversion of one of the notes | |||
Convertible promissory notes, Ending balance | $ 1,069,669 | $ 1,069,669 | |
Convertible Promissory Notes [Member] | |||
Short-Term Debt [Line Items] | |||
Convertible promissory notes, Beginning balance | 2,000,000 | ||
Issuance of the Notes | 2,000,000 | ||
Conversion of one of the notes | $ (430,331) | ||
Convertible promissory notes, Ending balance | $ 2,000,000 |
Convertible Notes Payable _ R_3
Convertible Notes Payable – Related Parties (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||
Apr. 20, 2022 | Dec. 31, 2023 | Aug. 31, 2023 | Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Short-Term Debt [Line Items] | ||||||
Warrants, exercise price | $ 2.79 | $ 2.79 | ||||
Loss on extinguishment | $ 1,120,333 | |||||
Accrued interest | $ 269,152 | $ 233,561 | 269,152 | |||
Warrant [Member] | ||||||
Short-Term Debt [Line Items] | ||||||
Number of shares issued | 1,200,000 | |||||
Fair value of warrants | 196,730 | |||||
Common Stock [Member] | ||||||
Short-Term Debt [Line Items] | ||||||
Number of shares issued | 262,000 | |||||
Debt Conversion, Converted Instrument, Amount | 430,331 | |||||
Debt amount | 500,000 | |||||
Accrued interest | $ 69,669 | $ 69,669 | ||||
Conversion of Stock, Shares Converted | 537,634 | |||||
2022 Convertible Notes One [Member] | ||||||
Short-Term Debt [Line Items] | ||||||
Convertible notes payable | $ 1,500,000 | |||||
Debt conversion converted warrants | 1,100,000 | |||||
2022 Convertible Notes Two [Member] | ||||||
Short-Term Debt [Line Items] | ||||||
Convertible notes payable | $ 500,000 | |||||
Debt conversion converted warrants | 360,000 | |||||
2022 Convertible Notes [Member] | ||||||
Short-Term Debt [Line Items] | ||||||
Number of shares issued | 250,000 | |||||
Original issuance discount | 5% | |||||
Legal fees | $ 10,000 | |||||
Original issuance discount | 8% | |||||
Debt instrument, conversion price | $ 2.79 | |||||
Warrants term | 5 years | |||||
Warrants, exercise price | $ 2.79 | |||||
Interest expense | $ 30,982 | $ 39,013 | ||||
Amended Note [Member] | ||||||
Short-Term Debt [Line Items] | ||||||
Warrants, exercise price | $ 0.93 | $ 0.93 | ||||
Fair value of conversion features | $ 923,603 | |||||
Amended Note [Member] | Warrant [Member] | ||||||
Short-Term Debt [Line Items] | ||||||
Warrants, exercise price | $ 6 | $ 6 | ||||
Outstanding warrants | 500,000 | 500,000 | ||||
Amended Note [Member] | Warrant One [Member] | ||||||
Short-Term Debt [Line Items] | ||||||
Warrants, exercise price | $ 2.79 | $ 2.79 | ||||
Outstanding warrants | 1,460,000 | 1,460,000 | ||||
Amended Note [Member] | Warrant Two [Member] | ||||||
Short-Term Debt [Line Items] | ||||||
Warrants, exercise price | $ 1 | $ 1 | ||||
Outstanding warrants | 800,000 | 800,000 |
Covid-19 SBA Loans (Details Nar
Covid-19 SBA Loans (Details Narrative) - USD ($) | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2024 | Dec. 31, 2023 | |
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Loans outstanding | $ 49,289 | $ 48,974 | ||
Economic Injury Disaster Loan Program [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Proceeds from loans | $ 55,700 | |||
Loan term | 30 years | |||
Interest rate | 3.75% | |||
Loans outstanding | $ 49,289 | $ 48,974 |
Schedule of Stock Holders (Deta
Schedule of Stock Holders (Details) - shares | 3 Months Ended | 12 Months Ended | ||
Jul. 10, 2023 | Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Stock issued for asset purchase | 5,000,000 | |||
Common Stock [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance, shares | 45,634,154 | 22,338,888 | 22,338,888 | |
Public offering | 4,315,787 | |||
Shares issued for services | 450,000 | |||
Stock issued for conversion of warrants | 2,774,119 | |||
Balance, shares | 49,220,273 | 26,654,675 | 45,634,154 | |
Common Stock [Member] | IPO [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance, shares | 45,634,154 | 22,338,888 | 22,338,888 | |
Public offering | 4,315,787 | |||
Shares issued for stock payable | 362,000 | 300,000 | ||
Shares issued for services | 450,000 | 1,675,000 | ||
Stock issued for asset purchase | 5,000,000 | |||
Stock issued for conversion of warrants | 2,774,119 | 1,200,000 | ||
Stock issued in connection with note conversion | 537,634 | |||
Stock issued for conversion of warrants related to IPO | 10,266,845 | |||
Balance, shares | 49,220,273 | 45,634,154 |
Capital Structure (Details Narr
Capital Structure (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||
Jan. 23, 2023 | Dec. 31, 2023 | Aug. 31, 2023 | Jul. 31, 2023 | Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | Dec. 31, 2022 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
Preferred stock shares, authorized | 100,000 | 100,000 | 100,000 | |||||
Preferred stock par, value | $ 0.001 | $ 0.001 | $ 0.001 | |||||
Preferred stock shares, issued | 0 | 0 | 0 | |||||
Preferred stock shares, outstanding | 0 | 0 | 0 | |||||
Common stock shares, authorized | 100,000,000 | 100,000,000 | 100,000,000 | |||||
Common stock, par value | $ 0.001 | $ 0.001 | $ 0.001 | |||||
Common stock shares, Issued | 45,634,154 | 49,220,273 | 45,634,154 | |||||
Common stock shares, outstanding | 45,634,154 | 49,220,273 | 45,634,154 | |||||
Warrant price per share | $ 2.79 | $ 2.79 | ||||||
Stock-based compensation | $ 662,900 | |||||||
Shares issued for stock payable, value | $ 192,000 | |||||||
Common Stock issued from stock payable on extinguishment of debt | ||||||||
Stock Issued During Period, Value, Issued for Services | 614,500 | |||||||
Coversion of warrants amount | 3,792,215 | |||||||
Common stock payable value | 3,450,675 | |||||||
[custom:StockIssuedDuringPeriodSharesWarrantConversion] | 2,000 | |||||||
[custom:StockIssuedDuringPeriodValueWarrantConversion] | 2,800 | |||||||
Promissory Note [Member] | ||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
Common Stock issued from stock payable on extinguishment of debt, shares | 262,000 | |||||||
Common Stock issued from stock payable on extinguishment of debt | $ 245,044 | |||||||
Private Investment In Public Equity And IPO [Member] | ||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
Shares issued for purchase of warrants | 10,266,845 | |||||||
Shares issued for purchase of warrants, value | $ 8,887,837 | |||||||
Common Stock Payable One [Member] | ||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
Shares issued for stock payable | 300,000 | |||||||
Common Stock Payable [Member] | ||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
Common Stock issued from stock payable on extinguishment of debt | (245,044) | |||||||
Stock Issued During Period, Value, Issued for Services | ||||||||
Coversion of warrants amount | ||||||||
Common stock payable value | ||||||||
Warrant [Member] | ||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
Common Stock issued from stock payable on extinguishment of debt, shares | 1,200,000 | |||||||
Common Stock issued from stock payable on extinguishment of debt | $ 1,118,400 | |||||||
Shares Conversion of common stock | 2,774,119 | |||||||
Coversion of warrants amount | $ 3,792,215 | |||||||
Restricted Common Stock [Member] | ||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
Shares issued for convertible promissory note amount | $ 500,000 | |||||||
Number of shares issued for convertible promissory note | 537,634 | |||||||
RD Agreement [Member] | ||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
Common stock, par value | $ 0.001 | |||||||
Issuance of stock, shares | 4,315,787 | |||||||
Shares issued price per share | $ 0.70 | |||||||
Gross proceeds from offering | $ 4,100,000 | |||||||
Warrant price per share | $ 0.95 | |||||||
Net proceeds issuance of public offering | $ 3,450,675 | |||||||
Consulting Agreement [Member] | ||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
Number of shares granted for services | 450,000 | 1,675,000 | ||||||
Stock-based compensation | $ 677,925 | |||||||
Shares issued for stock payable | 20,000 | |||||||
Shares issued for stock payable, value | $ 48,400 | |||||||
Stock Issued During Period, Value, Issued for Services | $ 614,500 | |||||||
Consulting Agreement One [Member] | Common Stock Payable [Member] | ||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
Shares not issued for stock payable | 450,000 | |||||||
Consulting Agreement Two [Member] | Common Stock Payable [Member] | ||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
Shares issued for stock payable | 440,230 | |||||||
Asset Purchase Agreement [Member] | ||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
Number of restricted common shares issued | 5,000,000 | |||||||
Two Consulting Agreement [Member] | ||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
Issuance of stock, shares | 100,000 | |||||||
Common stock payable value | $ 113,500 |
Schedule of Fair Value Using Bl
Schedule of Fair Value Using Black Scholes Method (Details) - USD ($) | 3 Months Ended | 12 Months Ended | ||
Jan. 19, 2023 | Mar. 31, 2024 | Dec. 31, 2023 | Dec. 31, 2022 | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants, Relative Fair Value | $ 2,588,196 | $ 39,444 | ||
Warrants, Fair Value | $ 10,278,150 | $ 202,638 | ||
Scenario One [Member] | Share-Based Payment Arrangement, Option [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Number of Option | 450,000 | |||
Warrants, Fair Value | $ 271,547 | |||
Scenario One [Member] | Minimum [Member] | Share-Based Payment Arrangement, Option [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants, Term Years | 3 years | |||
Warrants, Exercise Price | $ 0.46 | |||
Warrants, Market Price on Grant Date | $ 0.46 | |||
Warrants, Volatility Percentage | 158% | |||
Warrants, Reporting Date | Jul. 10, 2023 | |||
Scenario One [Member] | Maximum [Member] | Share-Based Payment Arrangement, Option [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants, Term Years | 5 years | |||
Warrants, Exercise Price | $ 1.13 | |||
Warrants, Market Price on Grant Date | $ 1.13 | |||
Warrants, Volatility Percentage | 160% | |||
Warrants, Reporting Date | Aug. 18, 2023 | |||
Scenario Two [Member] | Share-Based Payment Arrangement, Option [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants, Term Years | 5 years | |||
Number of Option | 4,745,000 | |||
Warrants, Fair Value | $ 10,278,150 | |||
Scenario Two [Member] | Minimum [Member] | Share-Based Payment Arrangement, Option [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants, Exercise Price | 2.19 | |||
Warrants, Market Price on Grant Date | $ 2.19 | |||
Warrants, Volatility Percentage | 155% | |||
Warrants, Reporting Date | Jul. 10, 2023 | |||
Scenario Two [Member] | Maximum [Member] | Share-Based Payment Arrangement, Option [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants, Exercise Price | $ 2.37 | |||
Warrants, Market Price on Grant Date | $ 2.37 | |||
Warrants, Volatility Percentage | 162% | |||
Warrants, Reporting Date | Mar. 27, 2024 | |||
Scenario Three [Member] | Share-Based Payment Arrangement, Option [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Number of Option | 5,420,000 | |||
Warrants, Fair Value | $ 6,633,848 | |||
Scenario Three [Member] | Minimum [Member] | Share-Based Payment Arrangement, Option [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants, Term Years | 5 years | |||
Warrants, Exercise Price | $ 1.57 | |||
Warrants, Market Price on Grant Date | $ 1.57 | |||
Warrants, Volatility Percentage | 119% | |||
Warrants, Reporting Date | Jul. 10, 2023 | |||
Scenario Three [Member] | Maximum [Member] | Share-Based Payment Arrangement, Option [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants, Term Years | 10 years | |||
Warrants, Exercise Price | $ 1.96 | |||
Warrants, Market Price on Grant Date | $ 1.96 | |||
Warrants, Volatility Percentage | 121% | |||
Warrants, Reporting Date | Mar. 11, 2024 | |||
Convertible Note Warrants [Member] | Scenario One [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants, Reporting Date | Apr. 20, 2022 | |||
Warrants, Relative Fair Value | $ 706,977 | |||
Warrants, Term Years | 5 years | |||
Warrants, Exercise Price | $ 2.79 | |||
Warrants, Market Price on Grant Date | $ 1.11 | |||
Warrants, Volatility Percentage | 281% | |||
Warrants, Risk-Free Rate | 2.87% | |||
Convertible Note Warrants [Member] | Scenario Two [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants, Reporting Date | Nov. 11, 2022 | |||
Warrants, Relative Fair Value | $ 937,207 | |||
Warrants, Term Years | 5 years | |||
Warrants, Exercise Price | $ 1 | |||
Warrants, Market Price on Grant Date | $ 1.28 | |||
Warrants, Volatility Percentage | 211% | |||
Warrants, Risk-Free Rate | 4.32% | |||
PIPE Warrants [Member] | Scenario One [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants, Reporting Date | Jan. 23, 2023 | |||
Warrants, Relative Fair Value | $ 2,311,614 | |||
Warrants, Term Years | 3 years | |||
Warrants, Exercise Price | $ 1 | |||
Warrants, Market Price on Grant Date | $ 0.65 | |||
Warrants, Volatility Percentage | 287% | |||
Warrants, Risk-Free Rate | 3.88% | |||
PIPE Warrants [Member] | Scenario Two [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants, Reporting Date | Jan. 23, 2023 | |||
Warrants, Relative Fair Value | $ 2,602,996 | |||
Warrants, Term Years | 5 years | |||
Warrants, Exercise Price | $ 1 | |||
Warrants, Market Price on Grant Date | $ 0.65 | |||
Warrants, Volatility Percentage | 371% | |||
Warrants, Risk-Free Rate | 3.61% | |||
Common Warrants [Member] | Investor Relationship Consulting Agreements [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants, Relative Fair Value | $ 364,960 | |||
Common Warrants [Member] | Scenario One [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants, Relative Fair Value | $ 364,960 | |||
Warrants, Term Years | 5 years | |||
Warrants, Volatility Percentage | 151% | |||
Common Warrants [Member] | Scenario One [Member] | Minimum [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants, Reporting Date | 08/10 | |||
Common Warrants [Member] | Scenario One [Member] | Minimum [Member] | Investor Relationship Consulting Agreements [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants, Exercise Price | $ 1 | |||
Warrants, Market Price on Grant Date | $ 0.87 | |||
Warrants, Risk-Free Rate | 4.21% | |||
Common Warrants [Member] | Scenario One [Member] | Maximum [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants, Reporting Date | 08/21/23 | |||
Common Warrants [Member] | Scenario One [Member] | Maximum [Member] | Investor Relationship Consulting Agreements [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants, Exercise Price | $ 1.40 | |||
Warrants, Market Price on Grant Date | $ 1.18 | |||
Warrants, Risk-Free Rate | 4.65% | |||
Common Warrants [Member] | Scenario Two [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants, Reporting Date | Oct. 05, 2023 | |||
Warrants, Relative Fair Value | $ 545,703 | |||
Warrants, Term Years | 5 years | |||
Warrants, Volatility Percentage | 152% | |||
Common Warrants [Member] | Scenario Two [Member] | Investor Relationship Consulting Agreements [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants, Market Price on Grant Date | $ 1.05 | |||
Common Warrants [Member] | Scenario Two [Member] | Minimum [Member] | Investor Relationship Consulting Agreements [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants, Exercise Price | $ 1 | |||
Warrants, Risk-Free Rate | 4.68% | |||
Common Warrants [Member] | Scenario Two [Member] | Maximum [Member] | Investor Relationship Consulting Agreements [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants, Exercise Price | $ 6 |
Summary of Warrant Outstanding
Summary of Warrant Outstanding (Details) - $ / shares | 3 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Dec. 31, 2023 | |
Subsidiary, Sale of Stock [Line Items] | ||
Number of Warrants, Beginning balance | 14,751,835 | 15,958,126 |
Exercise Price, Beginning balance | $ 2.06 | $ 1.74 |
Number of Warrants, Ending balance | 11,977,719 | |
Exercise Price, Ending balance | $ 2.21 | |
Number of Warrants, Exercisable | 11,977,719 | |
Exercise Price, Exercisable | $ 2.21 | |
Convertible Note Warrants [Member] | ||
Subsidiary, Sale of Stock [Line Items] | ||
Exercise Price, Warrants Issued | $ 0.093 | |
NUmber of Warrants, exercised | (1,200,000) | |
Services [Member] | ||
Subsidiary, Sale of Stock [Line Items] | ||
Number of Warrants, issued | 1,000,000 | |
Exercise Price, Warrants Issued | $ 1.23 | |
IPO [Member] | ||
Subsidiary, Sale of Stock [Line Items] | ||
Number of Warrants, issued | 9,260,554 | |
Exercise Price, Warrants Issued | $ 1.40 | $ 0.093 |
NUmber of Warrants, exercised | (2,774,119) | (10,266,845) |
Warrants and Options (Details N
Warrants and Options (Details Narrative) - USD ($) | 3 Months Ended | 12 Months Ended | ||||
Jan. 19, 2023 | Mar. 31, 2024 | Dec. 31, 2023 | Feb. 09, 2024 | Jan. 10, 2024 | Dec. 31, 2022 | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||
Issuance of warrants | 2,105,263 | 1,656,050 | ||||
Warrant price per share | $ 2.79 | |||||
Warrants, Expenses | $ 2,588,196 | $ 39,444 | ||||
Fair value | $ 10,278,150 | $ 202,638 | ||||
Officers Director And Employees [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||
Warrants, Expenses | $ 5,381,938 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross | 5,420,000 | |||||
Fair value | $ 6,633,848 | |||||
PIPE Agreement [Member] | Common Warrants [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||
Warrant price per share | $ 1 | |||||
Issuance of common stock warrants | $ 8,631,574 | |||||
Warrant price per share | $ 0.125 | |||||
PIPE Agreement [Member] | One Common Warrant [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||
Warrants exercisable | 4,315,787 | |||||
PIPE Agreement [Member] | Two common warrants [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||
Warrants exercisable | 4,315,787 | |||||
Investor Relationship Consulting Agreements [Member] | Common Warrants [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||
Issuance of common stock warrants | $ 1,000,000 | |||||
Warrants, Expenses | $ 364,960 | |||||
Five Employment [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross | 400,000 | |||||
Vesting exercise peried | 5 years | |||||
Exercise Price | $ 1.13 | |||||
Director Agreements [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||
Vesting exercise peried | 3 years | |||||
Exercise Price | $ 0.46 | |||||
Options | 50,000 | |||||
Seven Consulting Agreements [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross | 4,745,000 | |||||
Minimum [Member] | Officers Director And Employees [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||
Exercise Price | $ 1.57 | |||||
Minimum [Member] | Investor Relationship Consulting Agreements [Member] | Common Warrants [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||
Warrant price per share | $ 1 | |||||
Minimum [Member] | Five Employment [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||
Exercise Price | 0.49 | |||||
Minimum [Member] | Seven Consulting Agreements [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||
Vesting exercise peried | 5 years | |||||
Exercise Price | $ 2.19 | |||||
Maximum [Member] | Officers Director And Employees [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||
Exercise Price | $ 1.96 | |||||
Maximum [Member] | Investor Relationship Consulting Agreements [Member] | Common Warrants [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||
Warrant price per share | $ 1.40 | |||||
Maximum [Member] | Seven Consulting Agreements [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||
Vesting exercise peried | 10 years | |||||
Exercise Price | $ 2.37 | |||||
Convertible Note Warrants [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||
Issuance of warrants | 2,260,000 | |||||
Convertible Note Warrants [Member] | Minimum [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||
Warrant price per share | $ 1 | |||||
Convertible Note Warrants [Member] | Maximum [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||
Warrant price per share | $ 2.79 |
Schedule of Minimum Annual Leas
Schedule of Minimum Annual Lease Payments (Details) | Mar. 31, 2024 USD ($) |
July 1 to June 30, 2022 | |
Lessee, Lease, Description [Line Items] | |
Minimum annual lease payments | $ 180,456 |
July 1 to June 30, 2027 | |
Lessee, Lease, Description [Line Items] | |
Minimum annual lease payments | 240,662 |
July 1 to June 30, 2023 | |
Lessee, Lease, Description [Line Items] | |
Minimum annual lease payments | 201,260 |
July 1 to June 30, 2028 | |
Lessee, Lease, Description [Line Items] | |
Minimum annual lease payments | 247,882 |
July 1 to June 30, 2024 | |
Lessee, Lease, Description [Line Items] | |
Minimum annual lease payments | 224,330 |
July 1 to June 30, 2029 | |
Lessee, Lease, Description [Line Items] | |
Minimum annual lease payments | 255,319 |
July 1 to June 30, 2025 | |
Lessee, Lease, Description [Line Items] | |
Minimum annual lease payments | 229,312 |
July 1 to June 30, 2026 | |
Lessee, Lease, Description [Line Items] | |
Minimum annual lease payments | $ 233,653 |
Commitments and Contingencies_2
Commitments and Contingencies (Details Narrative) - USD ($) | 3 Months Ended | 12 Months Ended | ||||||
Feb. 09, 2024 | Jan. 16, 2024 | Jan. 10, 2024 | Nov. 30, 2023 | Sep. 05, 2023 | Mar. 31, 2024 | Dec. 31, 2023 | Feb. 29, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | ||||||||
Operating lease liability, current | $ 226,030 | $ 870,406 | ||||||
Operating lease, discount rate | 8% | |||||||
Operating lease, Right of use assets | 435,623 | $ 479,027 | ||||||
Operating lease liability, non-current | 247,441 | 304,907 | ||||||
Unamortized,ROU asset | 479,977 | |||||||
Operating lease liability, current | 226,030 | 214,752 | ||||||
Accreted interest expense | 10,086 | 49,010 | ||||||
Rent expense | $ 53,490 | $ 213,960 | ||||||
Shares issued | 330,619 | |||||||
Loss damages sought | $ 2,000,000 | |||||||
Damages estimated | $ 750,000 | $ 3 | $ 500,000 | |||||
Warrant to acquire, shares | 2,105,263 | 1,656,050 | ||||||
Expense | $ 600,000 | $ 380,000 | $ 4 |
Subsequent Events (Details Narr
Subsequent Events (Details Narrative) - Subsequent Event [Member] | 1 Months Ended |
May 14, 2024 USD ($) shares | |
Subsequent Event [Line Items] | |
Common Stock issued in Public Offering, shares | 2,482,668 |
Shares issued on common stock payable | 22,000 |
Shares issued on warrant exercise | 91,000 |
Shares issued at market price, private placement | 2,369,668 |
Private placement amount | $ | $ 5,000,000 |