General form of registration statement for all companies including face-amount certificate companies

FAIR VALUE MEASUREMENTS (Tables)

v3.23.3
FAIR VALUE MEASUREMENTS (Tables)
6 Months Ended 12 Months Ended
Jun. 30, 2023
Dec. 31, 2022
Fair Value Disclosures [Abstract]    
SCHEDULE OF FAIR VALUE INSTRUMENTS

 SCHEDULE OF FAIR VALUE INSTRUMENTS

    Fair value measured at December 31, 2021  
   

Total at

December 31,

2021

   

Quoted Prices

in active

markets
(Level 1)

   

Significant

other

observable

inputs
(Level 2)

   

Significant

unobservable

inputs
(Level 3)

 
                                 
Convertible notes payable   $ 11,152,151                 $ 11,152,151  
SCHEDULE OF FAIR VALUE ASSETS AND LIABILITIES

 SCHEDULE OF FAIR VALUE ASSETS AND LIABILITIES

    Fair value    

Valuation technique

  Unobservable Input  

Range

(weighted average)

 
Convertible notes payable at 12/31/21   $ 11,152,151    

Risky Put +

Stock Payoff

  Probability weighting assigned to automatic and optional conversion scenarios     90%/10 %
                Applied discount rate     79.1 %
                Common share class volatility     46.1 %
                Preferred stock class volatility     3.9 %
                Negotiation discount     1.6 %
SCHEDULE OF CHANGE IN FAIR VALUE

 SCHEDULE OF CHANGE IN FAIR VALUE

Fair value of convertible notes payable at December 31, 2020   $ 9,767,461  
Convertible notes payable issued     3,295,000  
Debt discount for warrants issued     (1,665,956 )
Accretion of debt issuance costs     480,574  
Change in fair value of convertible notes payable     (724,928 )
Fair value of convertible notes payable at December 31, 2021   $ 11,152,151  
Additional convertible notes payable issued     724,000  
Repayment of convertible notes payable     (100,000 )
Debt discount for warrants issued     (870,245 )
Accretion of debt issuance costs     2,055,627  
Change in fair value of convertible notes payable     1,866,922  
Transfer from level 3 to level 2     (325,000 )
Conversion of convertible notes payable into common stock     (14,503,455 )
Fair value of convertible notes payable at December 31, 2022   $