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Stockholders' Equity/(Deficit) (Tables)
6 Months Ended
Jun. 30, 2025
Stockholders' Equity Note [Abstract]  
Estimated Fair Value of Restricted Stock Award The estimated fair value of each RSU was calculated using the share price at the date of the grant. The following is a summary of the restricted stock awards activity during the six months ended June 30, 2025:

 

Number of
Shares

 

 

Weighted-Average
Grant Date
Fair Value

 

Unvested at December 31, 2024

 

 

 

$

 

Granted

 

36,404

 

 

$

0.40

 

Vested

 

(36,404

)

 

$

0.40

 

Cancelled

 

 

 

$

 

Unvested at June 30, 2025

 

 

 

$

 

Summary of Options Valued in Estimated on Date of Grant Using Black-Scholes Option-Pricing Model with Following Assumptions Used for Grants Issued

The Company used the following assumptions for the BSM to determine the fair value of the stock options granted during the six months ended June 30, 2025.

 



March 27, 2025

 

Risk free interest rate

 

4.09

%

Expected life (in years)

5

 

Expected volatility

 

119

%

Expected dividend yield

 

0

%

Grant-date fair value

0.36

 

Summary of Changes in Warrants Outstanding

The following table sets forth a summary of changes in warrants outstanding from December 31, 2024 to June 30, 2025:

 

 

 

 

 

 

Number of

 

 

Weighted-Average

 

 

Warrants

 

 

Exercise Price

 

Balance at December 31, 2024

 

10,727,387

 

 

$

2.30

 

Issued

 

 

 

$

 

Exercised

 

(460,000

)

 

$

1.10

 

Cancellation/Expiration

 

 

 

$

 

Balance at June 30, 2025

 

10,267,387

 

 

$

2.36