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STOCKHOLDERS’ EQUITY AND STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2025

Equity [Abstract]

SCHEDULE OF STOCK OPTION PLAN ACTIVITY

A summary of stock option activity under the Plans for the three months ended March 31, 2025 is as follows:

 SCHEDULE OF STOCK OPTION PLAN ACTIVITY

		Number of Shares				Weighted Average Exercise Price				Weighted Average Remaining Contractual Life				Aggregate Intrinsic Value
Options outstanding – January 1, 2025			2,469,099			$	6.49
Options granted			30,000			$	35.96
Options exercised			(2,743	)		$	8.44
Options cancelled/forfeited			(32,205	)		$	11.19
Options outstanding – March 31, 2025			2,464,151			$	6.78				2.97			$	49,489,000
Options exercisable			2,243,882			$	5.56				2.41			$	47,202,000
Options vested and expected to vest			2,436,256			$	6.61				2.90			$	49,250,000

SCHEDULE OF FAIR VALUE ASSUMPTIONS

The table below illustrates the fair value per share determined using the Black-Scholes-Merton option pricing model with the following assumptions used for valuing options granted to employees:

 SCHEDULE OF FAIR VALUE ASSUMPTIONS

		2025
Weighted-average fair value of options granted		$	24.13
Expected terms (in years)			6.11
Expected volatility			71.19	%
Risk-free interest rate			4.53	%
Dividend yield			-

SCHEDULE OF STOCK OPTION OUTSTANDING AND EXERCISABLE

The following table summarizes information about stock options outstanding and exercisable at March 31, 2025:

SCHEDULE OF STOCK OPTION OUTSTANDING AND EXERCISABLE   

		Options Outstanding												Options Exercisable
Range of Exercise Prices		Number Outstanding				Weighted Average Remaining Contractual Life in Years				Weighted Average Exercise Price				Number Exercisable				Weighted Average Exercise Price
$1.47 - $1.70			31,942				2.46			$	1.68				31,942			$	1.68
$1.73			250,000				2.76			$	1.73				250,000			$	1.73
$2.23			270,000				1.84			$	2.23				270,000			$	2.23
$2.40 - $2.60			14,068				1.83			$	2.57				14,068			$	2.57
$3.95			308,500				1.00			$	3.95				308,500			$	3.95
$4.49 - $5.72			92,300				4.36			$	5.53				92,300			$	5.53
$6.30			285,000				3.89			$	6.30				285,000			$	6.30
$6.75 - $7.26			43,349				7.27			$	6.84				24,139			$	6.81
$7.30			274,500				4.76			$	7.50				274,500			$	7.30
$7.60 - $45.64			894,492				2.88			$	10.92				693,433			$	8.17
$1.47 - $45.64			2,464,151				2.97			$	6.78				2,243,882			$	5.56

SCHEDULE OF RESTRICTED STOCK UNITS ACTIVITY

A summary of the Company’s RSU activity and related information for the three months ended March 31, 2025 is as follows:

 SCHEDULE OF RESTRICTED STOCK UNITS ACTIVITY

		Number of Shares				Weighted Average Grant Date Fair Value
RSUs unvested - January 1, 2025			353,112			$	22.55
RSUs granted			-				-
RSUs vested			(17,410	)			17.85
RSUs cancelled/forfeited			(20,000	)			17.97
RSUs unvested - March 31, 2025			315,702			$	23.10

SCHEDULE OF PERFORMANCE STOCK UNITS ACTIVITY

A summary of the Company’s PSU activity and related information for the three months ended March 31, 2025 is as follows:

 SCHEDULE OF PERFORMANCE STOCK UNITS ACTIVITY

		Number of Shares				Weighted Average Grant Date Fair Value
PSUs unvested – January 1, 2025			1,567,913			$	18.56
PSUs granted			-
PSUs vested			-
PSUs cancelled/forfeited			-
PSUs unvested – March 31, 2025			1,567,913			$	18.56

SCHEDULE OF STOCK BASED COMPENSATION GRANTED TO EMPLOYEES, DIRECTORS AND CONSULTANTS

The Company recorded stock-based compensation related to equity instruments granted to employees, directors and consultants as follows:

 SCHEDULE OF STOCK BASED COMPENSATION GRANTED TO EMPLOYEES, DIRECTORS AND CONSULTANTS

		2025				2024
		For the Three Months Ended March 31,
		2025				2024
Employees - selling, general and administrative		$	3,794,000			$	3,525,000
Employees – research and development			422,000				439,000
Directors - selling, general and administrative			226,000				188,000
Consultants - selling, general and administrative			114,000				17,000
Total		$	4,556,000			$	4,169,000

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