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Share Based Awards (Tables)
3 Months Ended
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Assumptions Used to Calculate the Fair Value of Options Granted

The range of assumptions used to calculate the fair value of options granted during the three months ended March 31, 2025 was:

 

Exercise Price   $ 8.568.56 
Stock price on date of grant   8.468.46 
Risk-free interest rate   4.444.44%
Dividend yield    
Expected term (years)   5.975.97 
Volatility   191.15191.15%
Schedule of Options Activity

A summary of options activity under the Plan since December 31, 2024 was:

 

   Shares  

Weighted-

Average

Exercise

Price

  

Weighted-

Average

Remaining

Contractual

Term

  

Aggregate

Intrinsic

Value

 
Outstanding as of December 31, 2024   5,645,325    1.54    7.90    59,779,836 
Granted   402,500    8.56           
Exercised   (908,503)   1.28           
Forfeited or expired   (127,502)   1.73           
Outstanding as of March 31, 2025   5,011,820    2.06    1.99    20,221,803 
Exercisable as of March 31, 2025   1,633,529   $1.47    1.35   $7,200,542 
Schedule of Restricted Stock Activity

A summary of restricted stock activity under the Plan since December 31, 2024 was:

 

   Shares   Weighted Average Grant-Date Fair Value Per Share 
Unvested and outstanding as of December 31, 2024   1,544,027   $3.84 
Granted   50,000    4.94 
Vested        
Forfeited   (321,428)   0.89 
Unvested and outstanding as of March 31, 2025   1,272,599   $4.64 
Schedule of Stock Compensation Expense by Functional Operating Expense

Stock compensation expense for the three months ended March 31 by functional operating expense was:

 

   2025   2024 
Research and development  $174,460   $115,477 
Sales and marketing   862,983    85,205 
General and administrative   561,529    604,952 
Total  $1,598,972   $805,634