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Stockholders’ Equity (Tables)
6 Months Ended
Jun. 30, 2025
Stockholders’ Equity [Abstract]  
Schedule of Net Proceeds

The table below details the net proceeds of the 2021 Public Offering.

 

Gross Proceeds:    
     Initial Closing  $39,999,040 
     Option Closing   6,000,000 
    45,999,040 
Offering Costs:     
     Underwriting discounts and commissions   (2,500,000)
     Other offering costs   (821,957)
Net Proceeds  $42,677,083 
Schedule of Warrants Activity

A summary of our Warrants activity for the six months ended June 30, 2025 and related information follows:

 

   Number of
Shares
Under
Warrant
   Weighted
Average
Exercise
Price
   Weighted
Average
Remaining
Contractual
Life
 
Balance as of January 1, 2025   26,490,110   $1.70    3.84 
Granted   9,600,000    0.00      
Exercised   (18,972,168)   0.52      
Cancelled   (289,253)   7.46      
Balance as of June 30, 2025   16,828,689   $1.45    3.48 
Schedule of Assumptions Used in the Black-Scholes Model

The assumptions used in the Monte Carlo simulation and Black-Scholes Model are set forth in the table below.

 

   Six Months 
Ended
June 30,
2025
 
Stock price  $0.77-2.69 
Risk-free interest rate   3.86-4.65%
Volatility   59.05-88.69%
Expected life in years   5.00-5.77 
Dividend yield   0.00%
Schedule of Option Activity

A summary of our Option activity for the three and six months ended June 30, 2025 and related information follows:

 

   Number of
Shares
Under
Option
   Weighted
Average
Exercise
Price
   Weighted
Average
Remaining
Contractual
Life
 
Balance as of January 1, 2025   4,289,359   $3.70    7.59 
Granted   13,301,944    1.48      
Exercised   (22,082)   0.49      
Forfeited   (59,709)   1.16      
Canceled   (26,958)   1.46      
Balance as of June 30, 2025   17,482,554   $2.03    8.29 
Vested and Exercisable as of June 30, 2025   3,698,944   $4.03    7.04 
Schedule of Stock-Based Compensation Expense for Stock Options

Total stock-based compensation expense for stock options for the three and six months ended June 30, 2025 and 2024 is as follows:

 

   Three Months Ended
June 30,
   Six Months Ended
June 30,
 
   2025   2024   2025   2024 
General and administrative  $875,781   $218,635   $1,664,063   $290,218 
Sales and marketing   135,612    80,412    134,391    151,966 
Research and development   136,060    37,089    205,197    77,405 
Cost of goods sold   125,297    19,108    193,993    37,048 
Total stock-based expense related to options  $1,272,750   $355,244   $2,197,644   $556,637 

Total stock-based compensation expense for RSUs for the three and six months ended June 30, 2025 and 2024 is as follows:

 

   Three Months Ended
June 30,
   Six Months Ended
June 30,
 
   2025   2024   2025   2024 
General and administrative  $637,873   $48,477   $924,186   $106,634 
Sales and marketing   56,537    4,065    210,958    13,564 
Research and development   52,768    211    103,561    715 
Cost of goods sold   67,844    
-
    133,149    
-
 
Total stock-based expense related to restricted stock units  $815,022   $52,753   $1,371,854   $120,913 
Schedule of Restricted Stock Unit (RSUs) Activity

A summary of our RSUs activity and related information is as follows: 

 

   RSUs   Weighted
Average
Grant Date
Fair Value
   Weighted
Average
Vesting
Period
(Years)
 
Unvested balance at January 1, 2025   252,417   $0.68    0.75 
Granted   4,218,399   $1.33      
Vested   (730,578)  $1.44      
Unvested balance at June 30, 2025   3,740,238   $1.26    1.75