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Stockholder Equity (Tables)
9 Months Ended
Sep. 30, 2025
Stockholder Equity  
Schedule of stock-based compensation expense to stock units

 

 

Three Months

 

 

Nine Months Ended

 

 

 

September 30,

2025

 

 

September 30,

2024

 

 

September 30,

2025

 

 

September 30,

2024

 

Research and development

 

$51,682

 

 

$42,760

 

 

$180,322

 

 

$133,078

 

Compensation and related expenses

 

 

762,335

 

 

 

377,649

 

 

 

1,892,237

 

 

 

745,915

 

Total expense

 

$814,017

 

 

$420,409

 

 

$2,072,559

 

 

$878,993

 

Schedule of stock option activity

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

Weighted

 

 

 

 

Average

 

 

 

 

 

 

Average

 

 

Aggregate

 

 

Remaining

 

 

 

 

 

Exercise

 

 

Intrinsic

 

 

Contractual

 

 

 

Shares

 

 

Price

 

 

Value

 

 

Life (Years)

 

Options outstanding at December 31, 2024

 

 

15,843,116

 

 

$0.94

 

 

$3,324,000

 

 

 

5.95

 

Granted

 

 

908,659

 

 

 

0.66

 

 

 

-

 

 

 

-

 

Exercised

 

 

(200,000)

 

 

0.12

 

 

 

-

 

 

 

-

 

Expired/forfeit

 

 

(142,713)

 

 

2.96

 

 

 

-

 

 

 

-

 

Options outstanding at March 31, 2025

 

 

16,409,062*

 

$0.92

 

 

$1,274,000

 

 

 

5.98

 

Granted

 

 

1,715,152

 

 

 

0.24

 

 

 

-

 

 

 

-

 

Exercised

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Expired/forfeit

 

 

(608,712)

 

 

0.84

 

 

 

-

 

 

 

-

 

Options outstanding at June 30, 2025

 

 

17,515,502*

 

$0.86

 

 

$1,210,855

 

 

 

5.99

 

Granted

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Exercised

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Expired/forfeit

 

 

(66,250)

 

 

1.16

 

 

 

-

 

 

 

-

 

Options outstanding at September 30, 2025

 

 

17,449,252*

 

$0.86

 

 

$971,330

 

 

 

5.73

 

Options exercisable at September 30, 2025

 

 

9,296,654*

 

$0.69

 

 

$971,330

 

 

 

3.03

 

Schedule of stock option assumtion

 

 

September 30,

 

 

September 30,

 

 

 

2025

 

 

2024

 

Expected volatility

 

67.81-71.56%

 

 

26.20-27.39%

 

Expected term (years)

 

6.25 Years

 

 

6.25 Years

 

Risk-free rate

 

4.00 - 4.51%

 

 

3.77-4.65%

 

Dividend rate

 

 

0.00%

 

 

0.00%

Schedule of outstanding nonvested restricted stock

 

 

 

 

 

Weighted-

Average

 

 

 

 

 

 

Grant Date

 

 

 

Amount

 

 

Fair Value

 

Nonvested, beginning of the year

 

 

3,549,292

 

 

$1.23

 

Granted

 

 

11,930,760

 

 

 

0.42

 

Vested

 

 

(1,137,391 )

 

 

0.81

 

Forfeited

 

 

(60,000 )

 

 

0.62

 

Nonvested, end of the year

 

 

14,282,661

 

 

$0.58

 

Schedule of warrant activity

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

Weighted

 

 

 

 

Average

 

 

 

 

 

Average

 

 

Aggregate

 

 

Remaining

 

 

 

 

 

Exercise

 

 

Intrinsic

 

 

Contractual

 

 

 

Shares

 

 

Price

 

 

Value

 

 

Life (Years)

 

Warrants outstanding at December 31, 2024

 

 

14,675,244

 

 

$1.13

 

 

$-

 

 

 

4.88

 

Granted

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Expired/forfeit

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Warrants outstanding at March 31, 2025

 

 

14,675,244

 

 

$1.13

 

 

 

 

 

 

 

4.63

 

Granted

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Expired/forfeit

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Warrants outstanding at June 30, 2025

 

 

14,675,244

 

 

$1.13

 

 

 

 

 

 

 

4.39

 

Granted

 

 

100,000

 

 

 

1.25

 

 

 

-

 

 

 

-

 

Repurchased

 

 

(6,000,000)

 

 

1.13

 

 

 

 

 

 

 

 

 

Expired/forfeit

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Warrants outstanding at September 30, 2025

 

 

8,775,244

 

 

$1.13

 

 

 

 

 

 

 

 

 

Warrants exercisable at  September 30, 2025

 

 

8,775,244

 

 

$1.13

 

 

$-

 

 

 

4.14