STOCK BASED COMPENSATION (Tables)
|
12 Months Ended |
Dec. 31, 2024 |
|---|
| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
| SCHEDULE OF RESTRICTED STOCK ACTIVITY |
Restricted
stock activity for the year ended December 31, 2024, and balances as at the end of December 31, 2024, were as follows:
SCHEDULE OF RESTRICTED STOCK ACTIVITY
| | |
Common Stock | |
| | |
Number of shares outstanding | | |
Weighted Average Grant-Date Fair Value | | |
Weighted average remaining contractual life (Years) | |
| Unvested as of December 31, 2023 | |
| 313,528 | | |
$ | 0.000002 | | |
| | |
| Granted | |
| - | | |
| - | | |
| | |
| Vested | |
| (250,822 | ) | |
| 0.000002 | | |
| | |
| Forfeited or cancelled | |
| - | | |
| - | | |
| | |
| Unvested as of December 31, 2024 | |
| 62,706 | | |
$ | 0.000002 | | |
| 0.25 | |
|
| 2024 Equity Incentive Plan [Member] |
|
| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
| SCHEDULE OF RESTRICTED STOCK ACTIVITY |
RSU
activity for the year ended December 31, 2024, and balances as at the end of December 31, 2024, were as follows:
SCHEDULE OF RESTRICTED STOCK ACTIVITY
| | |
Number of shares | | |
Weighted Average Grant-Date Fair Value | |
| Unvested as at December 31, 2023 | |
| - | | |
$ | - | |
| Granted | |
| 1,598,296 | | |
| 11.52 | |
| Vested | |
| (116,215 | ) | |
| 11.62 | |
| Forfeited | |
| - | | |
| - | |
| Unvested as at December 31, 2024 | |
| 1,482,081 | | |
$ | 11.51 | |
|
| SCHEDULE OF ESTIMATED GRANT DATE FAIR VALUE OF PSU |
The
estimated grant date fair value of the PSUs was determined using a Monte Carlo simulation valuation model. Assumptions used in the valuation
were as follows:
SCHEDULE OF ESTIMATED GRANT DATE FAIR VALUE OF PSU
| | |
Assumptions | |
| Fair value of Common Stock | |
$ | 11.62 | |
| Selected volatility | |
| 60 | % |
| Risk-free interest rate | |
| 3.42 | % |
| Contractual terms (years) | |
| 3.0 | |
|
| SCHEDULE OF PERFORMANCE SHARES UNITS ACTIVITY |
PSU
activity for the year ended December 31, 2024, and balances as at the end of December 31, 2024, were as follows:
SCHEDULE
OF PERFORMANCE SHARES UNITS ACTIVITY
| | |
Number of shares | | |
Weighted Average Grant-Date Fair Value | |
| Unvested as at December 31, 2023 | |
| - | | |
$ | - | |
| Granted | |
| 506,596 | | |
| 6.73 | |
| Vested | |
| - | | |
| - | |
| Forfeited | |
| - | | |
| - | |
| Unvested as at December 31, 2024 | |
| 506,596 | | |
$ | 6.73 | |
|
| Share-Based Payment Arrangement, Option [Member] |
|
| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
| SCHEDULE OF STOCK OPTION ACTIVITY |
Stock
option activity for the year ended December 31, 2024, and balances as at the end of December 31, 2024 were as follows:
SCHEDULE OF STOCK OPTION ACTIVITY
| | |
Stock Options | |
| | |
Number of options | | |
Weighted Average Grant-Date Fair Value | | |
Weighted average remaining contractual life (Years) | | |
Aggregate Intrinsic Value | |
| Unvested as of December 31, 2023 | |
| 1,326,982 | | |
$ | 0.57 | | |
| 3.49 | | |
$ | 7,998,367 | |
| Granted | |
| - | | |
| - | | |
| | | |
| | |
| Vested | |
| (361,303 | ) | |
| 0.57 | | |
| | | |
| | |
| Forfeited | |
| (255,687 | ) | |
| 0.60 | | |
| | | |
| | |
| Unvested as of December 31, 2024 | |
| 709,992 | | |
$ | 0.56 | | |
| 2.58 | | |
$ | 2,537,156 | |
|
| SCHEDULE OF FAIR VALUE ASSUMPTIONS |
The
weighted average fair value of options granted during period from March 16, 2023 (inception) through December 31, 2023 are provided below.
The fair value was estimated on the date of grant using the Black-Scholes pricing model with the assumptions indicated below:
SCHEDULE OF FAIR VALUE ASSUMPTIONS
| | |
2023 | |
| Expected option life (years) | |
| 5.07 - 5.93 years | |
| Expected volatility | |
| 60% - 70 | % |
| Risk-free interest rate at grant date | |
| 3.84 - 3.86 | % |
| Dividend yield | |
| 0 | % |
|
| Restricted Stock Units (RSUs) [Member] |
|
| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
| SCHEDULE OF RESTRICTED STOCK ACTIVITY |
RSU
activity for the year ended December 31, 2024, and balances as at the end of December 31, 2024, were as follows:
SCHEDULE OF RESTRICTED STOCK ACTIVITY
| | |
Number of shares | | |
Weighted Average Grant-Date Fair Value | |
| Unvested as at December 31, 2023 | |
| - | | |
$ | - | |
| Granted | |
| 2,024,985 | | |
| 8.80 | |
| Vested | |
| (502,411 | ) | |
| 8.67 | |
| Forfeited | |
| (517,752 | ) | |
| 9.17 | |
| Unvested as at December 31, 2024 | |
| 1,004,822 | | |
$ | 8.67 | |
|