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Stock Options and Warrants
 9 Months Ended
Sep. 30, 2025
Stock Options and Warrants [Abstract]  
STOCK OPTIONS AND WARRANTS

13. STOCK OPTIONS AND WARRANTS

 

Stock Options

 

The Company has not granted any options during the nine months ended September 30, 2025 and 2024. The Company’s most recent option grant was in 2022 that 76,190 shares (post-split) of common stock were granted to employees and certain consultants. The weighted average grant date fair value of options granted in 2022 was $27.9 (post-split). There are 386,021 options available for grant under the 2016 Equity Incentive Plan as of December 31, 2024. Compensation costs associated with the Company’s stock options are recognized, based on the grant-date fair values of these options over vesting period. As of September 30, 2025 and December 31, 2024, there were no unvested options.

 

Options issued and outstanding as of September 30, 2025, and their activities during the period then ended are as follows:

 

       Weighted-   Weighted-     
       Average   Average     
   Number of   Exercise   Contractual     
   Underlying
Shares
(post-split)		   Price
Per Share
(post-split)		   Life
Remaining
in Years		   Aggregate
Intrinsic
Value		 
Outstanding as of January 1, 2025   258,710   $27.9    6.74    
-
 
Granted   
-
    
-
    -    
-
 
Forfeited   
-
    
-
    -    
-
 
Outstanding as of September 30, 2025   258,710    27.9    6.00   $
-
 
Exercisable as of September 30, 2025   258,710    27.9    6.00   $
-
 
Vested and expected to vest   258,710   $27.9    6.00   $
-
 

 

Stock Warrants

 

Warrants issued and outstanding in connection with Shuling land transaction (See Note 5) as of September 30, 2025, and their activities during the nine-month period ended are as follows:

 

   Number of
Underlying
Shares		   Weighted-
Average
Exercise
Price
Per Share		   Weighted-
Average
Contractual
Life
Remaining
in Years		   Aggregate
Intrinsic
Value		 
Outstanding as of January 1, 2025   
-
   $
-
    
-
   $
-
 
Issued   1,000,000    2.50    5.00    
-
 
Exercised   
-
   $
-
    
-
    
-
 
Outstanding as of September 30, 2025   1,000,000   $2.50    4.79   $540,000 

Warrants issued and outstanding in connection with Lind convertible notes (See Note 12) as of September 30, 2025, and their activities during the nine-month period ended are as follows:

 

   Number of
Underlying
Shares		   Weighted-
Average
Exercise
Price
Per Share		   Weighted-
Average
Contractual
Life
Remaining
in Years		   Aggregate
Intrinsic
Value		 
Outstanding as of January 1, 2025   2,029,167   $0.40*   4.20   $195,542 
Issued   
-
    
-
    
-
    
-
 
Exercised   (1,529,167)  $0.60    
-
    
-
 
Outstanding as of September 30, 2025   500,000   $1.00    3.64   $1,020,000 

 

* On January 5, 2025, the Company and Lind entered into a third letter agreement (the “December Letter Agreement”), pursuant to which Lind agreed to exercise for cash, 1,029,167 of the Existing Warrants to purchase shares of Common Stock, with a current exercise price of $0.75 per share, at a reduced exercise price of $0.40 per share. The weighted average exercise price per share as of December 31, 2024 was adjusted to the reduction accordingly.