XML 38 R25.htm IDEA: XBRL DOCUMENT v3.25.3
Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Fair Value of Each Option Award Estimated Assumption

For stock options requiring an assessment of value during the nine months ended September 30, 2025, the fair value of each stock option award was estimated using the Black-Scholes option-pricing model with the following assumptions:

  

Risk-free interest rate   3.58% to 3.82 %
Expected dividend yield     0 %
Expected volatility     128.78% to 139.42 %
Expected life     2.5 to 3.5 years  

 

For stock options requiring an assessment of value during the nine months ended September 30, 2024, the fair value of each stock option award was estimated using the Black-Scholes option-pricing model with the following assumptions:

 

Risk-free interest rate     3.55% to 4.29 %
Expected dividend yield     0 %
Expected volatility     125.59 to 126.45 %
Expected life     2.5 to 3.5 years  
Schedule of Stock-based Compensation Costs

A summary of stock-based compensation costs for the three months and nine months ended September 30, 2025 and 2024 is as follows:

  

             
   Three Months Ended   Nine Months Ended 
   September 30,   September 30, 
   2025   2024   2025   2024 
                 
Related parties  $776,611   $106,827   $1,144,348   $340,445 
Non-related parties                
Total stock-based compensation costs  $776,611   $106,827   $1,144,348   $340,445 
Schedule of Stock Option Activity Including Options Form of Warrants

A summary of stock option activity, including options issued in the form of warrants, during the nine months ended September 30, 2025 is as follows:

  

   Number of Shares  

Weighted Average

Exercise Price

  

Weighted Average

Remaining

Contractual Life

(in Years)

 
             
Stock options outstanding at December 31, 2024   613,232   $12.317      
Granted   581,494    2.657      
Exercised             
Expired   (71,667)   44.272      
Stock options outstanding at September 30, 2025   1,123,059   $5.276    3.48 
                
Stock options exercisable at December 31, 2024   409,897   $17.100      
Stock options exercisable at September 30, 2025   930,559   $5.664    3.28 
Schedule of Exercise Prices of Common Stock Options Outstanding and Exercisable Including Options Form of Warrants

At September 30, 2025, the outstanding common stock options, including options issued in the form of warrants, are exercisable at the following prices per common share:

  

Exercise Prices  

Options

Outstanding (Shares)

  

Options

Exercisable (Shares)

 
          
$0.905    72,648    46,398 
$1.210    32,181    32,181 
$1.870    21,217    21,217 
$1.950    250,000    250,000 
$2.330    16,665    16,665 
$2.370    51,598    40,348 
$2.390    5,000    5,000 
$2.830    350,000    262,500 
$3.590    50,000    25,000 
$4.450    50,000    12,500 
$5.025    8,750    8,750 
$5.880    40,000    40,000 
$7.400    55,000    55,000 
$20.000    35,000    30,000 
$20.600    20,000    20,000 
$28.000    25,000    25,000 
$30.300    30,000    30,000 
$32.100    10,000    10,000 
      1,123,059    930,559