Quarterly report [Sections 13 or 15(d)]

Stockholders??? Equity (Tables)

v3.25.3
Stockholders’ Equity (Tables)
9 Months Ended
Sep. 30, 2025
Equity [Abstract]  
Schedule of Warrant Valuation Assumption

The Company utilizes the Black-Scholes model to value its warrants. The Company utilized the following assumptions:

 

    Nine months ended  
    September 30, 2025  
Expected term     3.08 - 5.00 years  
Expected average volatility     166 - 178 %
Expected dividend yield     -  
Risk-free interest rate     3.52 - 3.95  
Schedule of Activity of Warrants

A summary of activity of the warrants during the nine months ended September 30, 2025 as follows:

 

    Number of     Weighted average     Average  
    shares     Exercise Price     Life (years)  
Outstanding, December 31, 2024     5,402,306     $ 2.50       5.35  
Granted - true up     6,571       1.00       3.08  
Granted     357,150       1.31       5.00  
Granted     490,000       1.25       5.00  
Exercised *     (1,162,802 )     2.25       -  
Exercised     (1,068,332 )     2.25       -  
Outstanding, September 30, 2025     4,024,893     $ 2.38       4.59  
                         
Exercisable, September 30, 2025     4,024,893     $ 2.38       4.59  

 

* Prefunded warrants issued in December 2024
Schedule of Utilizes Black-Scholes Model to Value of Stock Options

The Company utilizes the Black-Scholes model to value its stock options. The Company utilized the following assumptions:

 

    Nine months ended  
    September 30, 2025  
Expected term     3.50 years  
Expected average volatility     189 %
Expected dividend yield     -  
Risk-free interest rate     4.27 %
Schedule of Activity of Stock Options

A summary of activity of the stock options during the nine months ended September 30, 2025, is as follows:

 

    Options Outstanding     Weighted Average  
    Number of     Weighted Average     Remaining life  
    Options     Exercise Price     (years)  
                   
Outstanding, December 31, 2024     64,752     $ 11.67       3.82  
Granted     265,000       2.57       5.00  
Exercised     -       -       -  
Forfeited/canceled     -       -       -  
Outstanding, September 30, 2025     329,752     $ 4.36       4.09  
                         
Exercisable options, September 30, 2025     44,976     $ 9.77       3.15