| Schedule of Warrant Valuation Assumption |
The Company concluded that the warrants met the requirements to be classified
in stockholders’ equity. The
Company utilizes the Black-Scholes model to value its warrants. The Company utilized the following assumptions:
Schedule
of Warrant Valuation Assumption
| |
|
Year ended
December 31, 2024
|
|
|
|
Year ended December
31, 2023
|
|
| Expected term |
|
|
5 - 5.50 years |
|
|
|
5 years |
|
| Expected average volatility |
|
|
177 - 188
|
% |
|
|
182 - 190 |
% |
| Expected dividend yield |
|
|
- |
|
|
|
- |
|
| Risk-free interest rate |
|
|
3.97 - 4.32
|
% |
|
|
3.62 - 3.96 |
% |
|
| Schedule of Activity of Warrant |
A
summary of activity of the warrants during the year ended December 31, 2024 and 2023 as follows:
Schedule
of Activity of Warrant
| |
|
Number of |
|
|
Weighted average |
|
|
Average |
|
| |
|
|
shares |
|
|
|
Exercise Price |
|
|
|
Life (years) |
|
| Outstanding, December 31, 2022 |
|
|
- |
|
|
$ |
- |
|
|
|
- |
|
| Granted |
|
|
146,100 |
|
|
|
30.00 |
|
|
|
5.00 |
|
| Granted |
|
|
558,220 |
|
|
|
33.00 |
|
|
|
5.00 |
|
| Granted |
|
|
6,901 |
|
|
|
37.50 |
|
|
|
5.00 |
|
| Granted |
|
|
10,228 |
|
|
|
41.25 |
|
|
|
5.00 |
|
| Granted |
|
|
11,820 |
|
|
|
12.69 |
|
|
|
5.00 |
|
| Granted |
|
|
197,006 |
|
|
|
10.15 |
|
|
|
5.00 |
|
| Exercised |
|
|
(146,100 |
) |
|
|
30.00 |
|
|
|
- |
|
| Exercised |
|
|
(550,359 |
) |
|
|
33.00 |
|
|
|
- |
|
| Outstanding, December 31, 2023 |
|
|
233,816 |
|
|
$ |
13.22 |
|
|
|
4.73 |
|
| Granted |
|
|
69,900 |
|
|
|
4.50 |
|
|
|
5.00 |
|
| Granted |
|
|
200 |
|
|
|
100.00 |
|
|
|
5.00 |
|
| Granted |
|
|
62,585 |
|
|
|
5.63 |
|
|
|
5.00 |
|
| Granted |
|
|
66,050 |
|
|
|
7.50 |
|
|
|
5.00 |
|
| Granted |
|
|
296,635 |
|
|
|
1.56 |
|
|
|
5.00 |
|
| Granted |
|
|
340,995 |
|
|
|
2.25 |
|
|
|
5.00 |
|
| Granted |
|
|
3,409,946 |
|
|
|
2.25 |
|
|
|
5.50 |
|
| Granted (*) |
|
|
1,162,802 |
|
|
|
2.25 |
|
|
|
5.50 |
|
| Split – warrant granted in October 2023 |
|
|
516,012 |
|
|
|
1.25 |
|
|
|
- |
|
| Exercised (**) |
|
|
(756,635 |
) |
|
|
3.25 |
|
|
|
- |
|
| Outstanding, December 31, 2024 |
|
|
5,402,306 |
|
|
$ |
2.50 |
|
|
|
5.35 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Exercisable, December 31, 2024 |
|
|
4,764,676 |
|
|
$ |
2.58 |
|
|
|
5.40 |
|
| * |
|
Prefunded warrants
were not yet issued as of December 31, 2024. |
| |
|
|
| ** |
|
Prefunded warrants, 69,900, from January 2024 offering, are included in the direct sale of equity due to immediately exercised upon raise. |
|
| 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:
Schedule
of Utilizes Black-Scholes Model to Value of Stock Options
| |
|
Year ended |
|
|
Year ended |
|
| |
|
December 31, |
|
|
December 31, |
|
| |
|
2024 |
|
|
2023 |
|
| Expected term |
|
|
3.50 years |
|
|
|
2.50 - 3.75 years |
|
| Expected average volatility |
|
|
187 |
% |
|
|
173 |
% |
| Expected dividend yield |
|
|
- |
|
|
|
- |
|
| Risk-free interest rate |
|
|
4.14 |
% |
|
|
4.46 - 5.02 |
% |
|
| Schedule of Activity of Stock Options |
A
summary of activity of the stock options during the year ended December 31, 2024 and 2023, is as follows:
Schedule
of Activity of Stock Options
| |
|
Options Outstanding |
|
|
Weighted Average |
|
| |
|
Number of |
|
|
Weighted Average |
|
|
Remaining life |
|
| |
|
Options |
|
|
Exercise Price |
|
|
(years) |
|
| |
|
|
|
|
|
|
|
|
|
| Outstanding, December 31, 2022 |
|
|
- |
|
|
$ |
- |
|
|
|
- |
|
| Granted |
|
|
39,752 |
|
|
|
16.42 |
|
|
|
5.00 |
|
| Exercised |
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Forfeited/canceled |
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Outstanding, December 31, 2023 |
|
|
39,752 |
|
|
$ |
16.42 |
|
|
|
4.64 |
|
| Granted |
|
|
25,000 |
|
|
|
4.12 |
|
|
|
5.00 |
|
| Exercised |
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Forfeited/canceled |
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Outstanding, December 31, 2024 |
|
|
64,752 |
|
|
$ |
11.67 |
|
|
|
3.82 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Exercisable options, December 31, 2024 |
|
|
10,088 |
|
|
$ |
17.67 |
|
|
|
3.64 |
|
|