Organization and Nature of Business	12 Months Ended
Dec. 31, 2023
Organization and Nature of Business [Abstract]
Organization and Nature of Business	Note 1 — Organization and Nature of Business Brief Overview: NYIAX, Inc. (the “Company” or “NYIAX”) was incorporated on July 12, 2012 in the State of Delaware. NYIAX connects Media Buyers (brands, advertisers or agencies) and Media Sellers (publishers or media) to execute media advertising sales contracts. NYIAX receives a commission or fee upon completion of the media advertising contract. NYIAX does not take ownership or positions of the media at any time during the process. Going Concern, Liquidity and Capital Resources The Company believes it does not have sufficient cash to meet working capital and capital requirements for at least twelve months from the issuance of these financial statements. Historically, the Company’s liquidity needs have been met by the sale of common shares, the issuance of common shares through the exercise of warrants, and issuance of convertible note payable. Without a new loan or other equity support, the Company would not be able to support the current operating plans through twelve months from the issuance of these financial statements. No assurance can be given at this time, however, as to whether we will be able to raise new equity or loan support. The Company generated negative cash flows from operations of approximately $3.3 million for the twelve months ended December 31, 2023. Historically, the Company’s liquidity needs have been met by the sale of sale of convertible notes payable, common shares, and the issuance of common shares through the exercise of warrants. As of December 31, 2023, NYIAX had total current assets of approximately $323,000, of which approximately $55,000 was cash and total current liabilities of approximately $7.9 million, of which $2.4 million were convertible notes payable, accrued interest, and note payable, stockholder, all payable-in-kind of the Company’s shares. For the year ended December 31, 2023, the Company’s operations lost approximately $8.7 million of which approximately $2.7 million were non-cash expenses, net. For the year ended December 31, 2022, the Company used approximately $5.3 million of cash in operating activities. To enable the Company to meet immediate capital requirements until longer term requirements can be met, during the second quarter of 2024, the Company sold convertible notes for the 2024A Convertible Notes Payable offering and during the third quarter the Company sold convertible notes for the 2024B Convertible Note Offering. The Company sold approximately $1.5 million of the 2024A Convertible Note Payable and as of August 15, 2024, the Company sold approximately $0.2 million of the 2024B Convertible Note Payable offerings. The Company is also subject to certain business risks, including dependence on key employees, competition, market acceptance of the Company’s platform, ability to source demand from buyers of advertising inventory and dependence on growth to achieve its business plan.

Organization and Nature of Business

12 Months Ended

Dec. 31, 2023

Organization and Nature of Business [Abstract]

Note 1 — Organization and Nature of Business

Brief Overview:

NYIAX, Inc. (the “Company” or “NYIAX”) was incorporated on July 12, 2012 in the State of Delaware.

NYIAX connects Media Buyers (brands, advertisers or agencies) and Media Sellers (publishers or media) to execute media advertising sales contracts. NYIAX receives a commission or fee upon completion of the media advertising contract. NYIAX does not take ownership or positions of the media at any time during the process.

Going Concern, Liquidity and Capital Resources

The Company believes it does not have sufficient cash to meet working capital and capital requirements for at least twelve months from the issuance of these financial statements.

Historically, the Company’s liquidity needs have been met by the sale of common shares, the issuance of common shares through the exercise of warrants, and issuance of convertible note payable. Without a new loan or other equity support, the Company would not be able to support the current operating plans through twelve months from the issuance of these financial statements. No assurance can be given at this time, however, as to whether we will be able to raise new equity or loan support.

The Company generated negative cash flows from operations of approximately $3.3 million for the twelve months ended December 31, 2023. Historically, the Company’s liquidity needs have been met by the sale of sale of convertible notes payable, common shares, and the issuance of common shares through the exercise of warrants.

As of December 31, 2023, NYIAX had total current assets of approximately $323,000, of which approximately $55,000 was cash and total current liabilities of approximately $7.9 million, of which $2.4 million were convertible notes payable, accrued interest, and note payable, stockholder, all payable-in-kind of the Company’s shares.

For the year ended December 31, 2023, the Company’s operations lost approximately $8.7 million of which approximately $2.7 million were non-cash expenses, net.

For the year ended December 31, 2022, the Company used approximately $5.3 million of cash in operating activities.

To enable the Company to meet immediate capital requirements until longer term requirements can be met, during the second quarter of 2024, the Company sold convertible notes for the 2024A Convertible Notes Payable offering and during the third quarter the Company sold convertible notes for the 2024B Convertible Note Offering. The Company sold approximately $1.5 million of the 2024A Convertible Note Payable and as of August 15, 2024, the Company sold approximately $0.2 million of the 2024B Convertible Note Payable offerings.

The Company is also subject to certain business risks, including dependence on key employees, competition, market acceptance of the Company’s platform, ability to source demand from buyers of advertising inventory and dependence on growth to achieve its business plan.

NYIAX, INC. 10-K/A