v3.25.1
STOCKHOLDERS’ EQUITY (Tables)
12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
SUMMARY OF BLACK-SCHOLES OPTION PRICING MODEL TO STOCK OPTIONS GRANTED ASSUMPTION

In applying the Black-Scholes option pricing model to options granted, the Company used the following assumptions:

 

   For the Years Ended  
   December 31,  
   2024   2023   2022  
              
Risk free interest rate   3.60%-4.64%    3.00%-4.14%   2.47%-3.25%  
Expected term (years)   6.00    5.00   1.00-8.00  
Expected volatility    110.3%-125.9%      115.9%-117.3%    115%-133.4%  
Expected dividends   0.00%   0.00%  0.00%  

SUMMARY OF OPTIONS ACTIVITY

A summary of the option activity during the year ended December 31, 2024 is presented below:

 

           Weighted     
       Weighted   Average     
       Average   Remaining   Aggregate 
   Number of   Exercise   Life   Intrinsic 
   Shares   Price   In Years   Value 
Outstanding, January 1, 2024   936,245   $24.68           
Granted   128,303    5.37           
Exercised   -    -           
Cancelled/forfeited/expired   (78,383)   8.70           
Outstanding, December 31, 2024   986,165   $26.27    5.4   $- 
                     
Exercisable, December 31, 2024   916,635   $27.63    5.1   $- 

SCHEDULE OF STOCK OPTIONS

The following table presents information related to stock options as of December 31, 2024:

 

    Options Outstanding   Options Exercisable 
    Weighted       Weighted     
Range of   Average   Outstanding   Average   Exercisable 
Exercise   Exercise   Number of   Remaining Life   Number of 
Price   Price   Options   In Years   Options 
$1.73-$9.14    $2.93    273,640    1.0    229,780 
$15.51-$38.45    $34.55    671,993    3.4    646,323 
$40.82-$59.22    $46.50    40,532    0.7    40,532 
          986,165    5.1    916,635 

SUMMARY OF BLACK-SCHOLES OPTION PRICING MODEL TO WARRANTS GRANTED ASSUMPTION

In applying the Black-Scholes option pricing model to warrants granted, the Company used the following assumptions:

 

   For the Years Ended 
   December 31, 
   2024   2023   2022 
             
Risk free interest rate   N/A    3.39%-4.03%   N/A 
Expected term (years)   N/A    5.00    N/A 
Expected volatility   N/A     115.9%-133.4 %   N/A 
Expected dividends   N/A    0.00%   N/A 

SCHEDULE OF WARRANT ACTIVITY

The following table accounts for the Company’s warrant activity for the year ended December 31, 2024:

 

           Weighted     
       Weighted   Average     
       Average   Remaining   Aggregate 
   Number of   Exercise   Life   Intrinsic 
   Shares   Price   In Years   Value 
Outstanding, January 1, 2024   1,145,914   $9.69          
Issued   -    -          
Exercised   -    -          
Outstanding, December 31, 2024   1,145,914   $9.69    3.2   $- 
                     
Exercisable, December 31, 2024   1,145,914   $9.69    3.2   $- 

SCHEDULE OF STOCK WARRANTS

The following table presents information related to stock warrants as of December 31, 2024:

 

    Warrants Outstanding   Warrants Exercisable 
    Weighted       Weighted     
Range of   Average   Outstanding   Average   Exercisable 
Exercise   Exercise   Number of   Remaining Life   Number of 
Price   Price   Warrants   In Years   Warrants 
                  
$8.82-$11.56   $9.69    1,145,914    3.2    1,145,914 
           1,145,914    3.2    1,145,914