ACCRUED EXPENSES |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ACCRUED EXPENSES | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ACCRUED EXPENSES |
NOTE 7. ACCRUED EXPENSES
Accrued expenses consist of the following:
On April 11, 2025, pursuant to the terms and conditions of the Series A Warrants issued on October 9, 2024 in conjunction with the 2024 PIPE Financing, the Company evaluated the impact of the 1-for-10 reverse split of the Company’s common stock, or Share Combination Event, completed on the Nasdaq Capital Markets. The Share Combination Event resulted in the determination and accrual of a current liability of $1,640,000 at June 30, 2025 for a True-up Payment due to investors of the 2024 PIPE Financing as required by the terms and conditions of the Series A Warrants (see Note 11). |
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- References No definition available.
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- Definition The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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