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Stockholders’ Equity and Convertible Preferred Stock (Tables)

9 Months Ended

Sep. 30, 2025

Stockholders’ Equity and Convertible Preferred Stock [Abstract]

Schedule of Warrant Activity

A summary of warrant activity for the nine months ended September 30, 2025, is presented below:

						Weighted								Weighted Average Remaining
						Average Exercise				Total Intrinsic				Contractual Life
		Warrants				Price				Value				(in years)
Outstanding as of December 31, 2024			444,796			$	29.25				-				1.20
Granted			7,752,108				3.97
Expired			(87,598	)		$	28.74				-				-
Exercised			(1,173,426	)			3.96
Outstanding as of September 30, 2025			6,935,880			$	5.33				-				4.1

Schedule of Restricted Stock Awards Activity

A summary of restricted stock awards activity for the nine months ended September 30, 2025, is presented below: 

		Number of				Weighted
		Restricted Stock Awards				Average Grant Day Fair Value
Nonvested at December 31, 2024			50,000			$	0.98
Granted			1,210,969			$	6.30
Vested			(1,210,969	)		$	6.30
Forfeited			-			$	-
Nonvested at September 30, 2025			50,000			$	0.98

Schedule of Option Activity Under the Company’s Stock Option Plan

A summary of option activity under the Company’s stock option plan for the nine months ended September 30, 2025, is presented below:

														Weighted
														Average
						Weighted				Total				Remaining
						Average				Intrinsic				Contractual
		Number of Shares				Exercise Price				Value ($000s)				Life (in years)
Outstanding as of December 31, 2024			376,654			$	4.29			$	-				8.2
Employee options granted			10,000,000			$	3.85								9.8
Employee options exercised			(30,000	)			3.36
Employee options expired			(128,652	)		$	3.68
Employee options forfeited			(181,669	)		$	3.50			$	4				-
Outstanding as of September 30, 2025			10,036,333			$	6.18			$	9,336				9.4
Options vested and exercisable			10,021,333			$	6.18			$	9,330				9.4

Schedule of Assumptions Used in the Company’s Fair Value Analysis

The following were assumptions used in the Company’s fair value analysis:

Risk-free interest rate			4.14	%
Estimated maturity date			10 years
Underlying stock price			6.16
Expected volatility			112.5	%

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Tabular disclosure of share-based payment arrangement.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

+ References

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Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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