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STOCKHOLDERS EQUITY (Tables)
9 Months Ended
Sep. 30, 2024
STOCKHOLDERS' EQUITY  
Schedule of share based compensation expenses

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Share-based compensation expense:

 

 

 

 

 

 

 

 

 

 

 

 

Stock options

 

$97,655

 

 

$-

 

 

$161,124

 

 

$-

 

RSUs

 

$55,064

 

 

$-

 

 

$292,442

 

 

$-

 

Total share-based compensation expense

 

$152,719

 

 

$-

 

 

$453,566

 

 

$-

 

Schedule of annual weighted average assumptions

 

 

Nine Months Ended

 

Grant-Date Weighted-Average Assumptions

 

September 30, 2024

 

Expected term (in years)

 

 

4.5

 

Risk-free interest rate

 

 

4.3%

Expected dividend yield

 

 

0.0%

Expected volatility

 

 

136.0%

Fair value per share of options granted

 

$0.18

 

Schedule of stock option activity

 

 

 

 

 

 

 

 

Weighted-Average

 

 

 

 

 

 

 

 

 

Weighted-Average

 

 

Remaining

 

 

Aggregate

 

 

 

 

 

 

Exercise Price

 

 

Contractual

 

 

Intrinsic

 

 

 

Shares

 

 

Per Share

 

 

Term (in years)

 

 

Value

 

Options outstanding, December 31, 2023

 

 

-

 

 

 

n/a

 

 

 

n/a

 

 

 

n/a

 

Granted

 

 

4,330,000

 

 

$0.23

 

 

 

n/a

 

 

 

n/a

 

Exercised

 

 

-

 

 

 

n/a

 

 

 

n/a

 

 

 

n/a

 

Forfeited

 

 

-

 

 

 

n/a

 

 

 

n/a

 

 

 

n/a

 

Expired

 

 

-

 

 

 

n/a

 

 

 

n/a

 

 

 

n/a

 

Options outstanding, September 30, 2024

 

 

4,330,000

 

 

$0.23

 

 

 

4.0

 

 

$2,279,400

 

Nonvested options, September 30, 2024

 

 

4,272,500

 

 

$0.23

 

 

 

3.9

 

 

$2,254,175

 

Vested and exercisable options, September 30, 2024

 

 

57,500

 

 

$0.32

 

 

 

9.8

 

 

$25,225

 

Schedule of Resricted stock unit activity

 

 

 

 

 

Weighted-Average

 

 

 

 

 

 

Grant-Date

 

 

 

 

 

 

Fair Value

 

 

 

Shares

 

 

Per Share

 

Nonvested shares at December 31, 2023

 

 

-

 

 

 

n/a

 

Granted

 

 

2,870,000

 

 

$0.23

 

Vested

 

 

(791,667)

 

$0.22

 

Forfeited

 

 

-

 

 

 

n/a

 

Nonvested shares at September 30, 2024

 

 

2,078,333

 

 

$0.24

 

Schedule of Warrants outstanding

Number of warrants

 

 

Exercise Price

 

 

Expiration Date

 

Remaining life (years)

 

 

2,285,715

 

 

$0.46

 

 

1/27/2026

 

 

1.33

 

 

804,000

 

 

$0.46

 

 

1/27/2026

 

 

1.33

 

 

7,650,000

 

 

$0.85

 

 

8/3/2026

 

 

1.84

 

 

1,606,500

 

 

$0.85

 

 

2/1/2026

 

 

1.34

 

 

12,346,215