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EQUITY COMPENSATION | 3 Months Ended
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Mar. 31, 2026
Compensation Related Costs [Abstract] |
EQUITY COMPENSATION | NOTE 15 – EQUITY COMPENSATION 2025 Equity Incentive Plan As of March 31, 2026 and December 31, 2025, there were, respectively, 252,784 and 630,000 shares of common stock available for issuance pursuant to future stock or option grants under the 2025 Plan. Stock-based compensation costs recognized under the plan were 211,123 and $nil for the three-months ended March 31, 2026 and 2025, respectively. As of March 31, 2026, there is no accrued stock compensation for awards earned and not granted. As of December 31, 2025, the Company had accrued $736,563 in respect of accrued stock bonuses and restricted stock / option awards to be granted in 2026 under the 2025 Plan. During the first quarter of 2026, the equity awards related to the accrued expenses were granted and reclassified to equity. Stock Options Issued and Outstanding A summary of stock option activity during the three months ended March 31, 2026 is presented in the table below: SCHEDULE OF OPTION ACTIVITY
|  | Number of Options |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term |  |  | Aggregate Intrinsic Value |
Outstanding, December 31, 2025 |  |  | 87,274 |  |  | $ | 19.26 |  |  |  | 5.6 |  |  | $ | - |
Granted |  |  | 75,394 |  |  | $ | 2.79 |  |  |  | 9.8 |  |  |  | - |
Exercised |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Forfeited |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Expired |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Outstanding, March 31, 2026 |  |  | 162,668 |  |  | $ | 11.62 |  |  |  | 7.4 |  |  | $ | - |
Exercisable, March 31, 2026 |  |  | 107,048 |  |  | $ | 16.06 |  |  |  | 6.2 |  |  | $ | - |
SUMMARY OF NON-VESTED STOCK OPTIONS ACTIVITY FOR EMPLOYEES AND CONSULTANTS
|  | Number of Options |  |  | Weighted Average Grant-Date Fair Value |  |  | Aggregate Intrinsic Value |  |  | Grant-Date Fair Value |
Nonvested, December 31, 2025 |  |  | 6,313 |  |  | $ | 7.17 |  |  | $ | - |  |  | $ | 45,247 |
Granted |  |  | 75,394 |  |  | $ | 2.65 |  |  |  | - |  |  |  | 199,527 |
Vested |  |  | (26,087 | ) |  | $ | 3.48 |  |  |  | - |  |  |  | (90,864 | )
Forfeited |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Expired |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Nonvested, March 31, 2026 |  |  | 55,620 |  |  | $ | 2.77 |  |  | $ | - |  |  | $ | 153,904 |
The aggregate intrinsic value for the stock options was $nil because exercise prices of the outstanding options exceeded the market price of the Company’s common stock at March 31, 2026. The grant date fair value of the options granted was calculated using the Black-Scholes pricing model with the following assumptions: 116.43% - 121.86% volatility, risk free interest rate of 3.68% - 3.78%, an expected life of ten years and no dividend. Compensation costs associated with stock options represented $136,122 and $nil of the total share-based payment expense recorded in the three months ended March 31, 2026 and 2025, respectively. As of March 31, 2026, there was $67,084 of unrecognized stock-based compensation expense related stock options to be recognized over a weighted average period of 0.33 years. Restricted Stock Awards A summary of restricted stock awards during the three months ended March 31, 2026 is presented in the table below: SCHEDULE OF RESTRICTED STOCK AWARDS
|  | Number of Units |  |  | Weighted Grant Date Fair Value |  |  | Aggregate Intrinsic Value |
Outstanding, December 31, 2025 |  |  | - |  |  | $ | - |  |  | $ | - |
Granted |  |  | 301,822 |  |  | $ | 2.83 |  |  |  | 434,624 |
Vested and to be settled with share issuance |  |  | (237,622 | ) |  | $ | (2.83 | ) |  |  | (342,175 | )
Forfeited |  |  | - |  |  | $ | - |  |  |  | - |
Outstanding, March 31, 2026 |  |  | 64,200 |  |  | $ | 2.80 |  |  | $ | 92,449 |
The weighted average grant date fair value of the restricted stock granted during the three months ended March 31, 2026, was $2.83. The total fair value of restricted stock vested during the three months ended March 31 2026 was $673,233. There were no grants or award vestings during the three months ended March 31 2025. Compensation costs associated with restricted stock was $75,000 for the three months ended March 31, 2026. There were no restricted stock awards granted during the three months ending March 31, 2025. As of March 31, 2026, there was $100,000 unrecognized compensation costs related to restricted stock to be recognized over the weighted average period of 0.33 years.

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- Definition The entire disclosure for compensation costs, including compensated absences accruals, compensated absences liability, deferred compensation arrangements and income statement compensation items. Deferred compensation arrangements may include a description of an arrangement with an individual employee, which is generally an employment contract between the entity and a selected officer or key employee containing a promise by the employer to pay certain amounts at designated future dates, usually including a period after retirement, upon compliance with stipulated requirements. This type of arrangement is distinguished from broader based employee benefit plans as it is usually tailored to the employee. Disclosure also typically includes the amount of related compensation expense recognized during the reporting period, the number of shares (units) issued during the period under such arrangements, and the carrying amount as of the balance sheet date of the related liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 710 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482969/710-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 710 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/710/tableOfContent + Details
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