STOCKHOLDERS’ EQUITY (Tables)
|
3 Months Ended |
Mar. 31, 2025 |
Equity [Abstract] |
|
Schedule of of Servicing Assets at Fair Value |
Schedule of of Servicing Assets at Fair Value
Value
of intellectual property |
|
$ |
44.8 million |
|
Common
shares outstanding (as converted) |
|
|
1,187,302 |
|
Value
per common share |
|
$ |
37.71 |
|
Illiquidity
discount |
|
|
20 |
% |
Minority
discount |
|
|
20 |
% |
Fair
value of the common stock |
|
$ |
22.68 |
|
|
The following is an analysis of the stock option grant activity |
The
following is an analysis of the stock option grant activity:
|
|
|
|
|
Weighted
Average |
|
|
Weighted
Average |
|
|
|
Number
of
Shares |
|
|
Exercise
Price |
|
|
Remaining
Life |
|
Stock
Options |
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding
December 31, 2024 |
|
|
870,449 |
|
|
$ |
5.85 |
|
|
|
9.19 |
|
Granted |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Expired |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Exercised |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Outstanding
March 31, 2025 |
|
|
870,449 |
|
|
$ |
5.85 |
|
|
|
8.94 |
|
Exercisable
March 31, 2025 |
|
|
409,679 |
|
|
$ |
9.60 |
|
|
|
8.69 |
|
|
|
|
|
|
Weighted
Average |
|
|
Weighted
Average |
|
|
|
Number |
|
|
Exercise
Price |
|
|
Remaining
Life |
|
Stock
Options |
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding
December 31, 2023 |
|
|
197,560 |
|
|
$ |
22.68 |
|
|
|
9.08 |
|
Granted |
|
|
— |
|
|
$ |
— |
|
|
|
— |
|
Expired |
|
|
— |
|
|
$ |
— |
|
|
|
— |
|
Exercised |
|
|
— |
|
|
$ |
— |
|
|
|
— |
|
Outstanding
March 31, 2024 |
|
|
197,560 |
|
|
$ |
22.68 |
|
|
|
8.83 |
|
Exercisable
March 31, 2024 |
|
|
127,723 |
|
|
$ |
22.68 |
|
|
|
8.83 |
|
|
A summary of the status of the Company’s nonvested options as of March 31, 2025 and 2024, and changes during three months ended March 31, 2025 and 2024, is presented below |
A
summary of the status of the Company’s nonvested options as of March 31, 2025 and 2024, and changes during three months
ended March 31, 2025 and 2024, is presented below:
Non-vested
Options |
|
Options |
|
|
Weighted-
Average
Exercise
Price |
|
Non-vested
at December 31, 2024 |
|
|
560,928 |
|
|
$ |
2.93 |
|
Granted |
|
|
— |
|
|
|
— |
|
Vested |
|
|
(100,158 |
) |
|
|
4.85 |
|
Forfeited |
|
|
— |
|
|
|
— |
|
Non-vested
at March 31, 2025 |
|
|
460,770 |
|
|
$ |
2.51 |
|
Non-vested
Options |
|
Options |
|
|
Weighted-
Average
Exercise
Price |
|
Non-vested
at December 31, 2023 |
|
|
113,429 |
|
|
$ |
22.68 |
|
Granted |
|
|
— |
|
|
|
— |
|
Vested |
|
|
(43,592 |
) |
|
|
22.68 |
|
Forfeited |
|
|
— |
|
|
|
— |
|
Non-vested
at March 31, 2024 |
|
|
69,837 |
|
|
$ |
22.68 |
|
|
The following is an analysis of the stock warrant grant activity |
The
following is an analysis of the stock warrant grant activity:
|
|
|
|
|
Weighted
Average |
|
|
Weighted
Average |
|
|
|
Number
of
Shares |
|
|
Exercise
Price |
|
|
Remaining
Life |
|
Stock
Warrants |
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding
December 31, 2024 |
|
|
55,000 |
|
|
$ |
7.50 |
|
|
|
4.13 |
|
Granted |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Expired |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Exercised |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Outstanding
March 31, 2025 |
|
|
55,000 |
|
|
$ |
7.50 |
|
|
|
3.88 |
|
Exercisable
March 31, 2025 |
|
|
55,000 |
|
|
$ |
7.50 |
|
|
|
3.88 |
|
|
|
|
|
|
Weighted
Average |
|
|
Weighted
Average |
|
|
|
Number |
|
|
Exercise
Price |
|
|
Remaining
Life |
|
Stock
Warrants |
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding
December 31, 2023 |
|
|
— |
|
|
$ |
— |
|
|
|
— |
|
Granted |
|
|
55,000 |
|
|
|
7.50 |
|
|
|
4.88 |
|
Expired |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Exercised |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Outstanding
March 31, 2024 |
|
|
55,000 |
|
|
$ |
7.50 |
|
|
|
4.88 |
|
Exercisable
March 31, 2024 |
|
|
55,000 |
|
|
$ |
7.50 |
|
|
|
4.88 |
|
A
summary of the status of the Company’s nonvested warrants as of March 31, 2025 and 2024, and changes during the three months
ended March 31, 2025 and 2024, is presented below:
Non-vested
Warrants |
|
Warrants |
|
|
Weighted-
Average
Exercise
Price |
|
Non-vested
at December 31, 2024 |
|
|
— |
|
|
$ |
— |
|
Granted |
|
|
— |
|
|
|
— |
|
Vested |
|
|
— |
|
|
|
— |
|
Forfeited |
|
|
— |
|
|
|
— |
|
Non-vested
at March 31, 2025 |
|
|
— |
|
|
$ |
— |
|
Non-vested
Warrants |
|
Warrants |
|
|
Weighted-
Average
Exercise
Price |
|
Non-vested
at December 31, 2023 |
|
|
— |
|
|
$ |
— |
|
Granted |
|
|
55,000 |
|
|
|
7.50 |
|
Vested |
|
|
(55,000 |
) |
|
|
7.50 |
|
Forfeited |
|
|
— |
|
|
|
— |
|
Non-vested
at March 31, 2024 |
|
|
— |
|
|
$ |
— |
|
|
A summary of the status of the Company’s nonvested RSUs as of March 31, 2025, and changes during the three months ended March 31, 2025, is presented below |
A
summary of the status of the Company’s nonvested RSUs as of March 31, 2025, and changes during the three months ended March
31, 2025, is presented below:
Non-vested
RSUs |
|
RSUs |
|
|
Weighted-
Average
Exercise
Price |
|
Non-vested
at December 31, 2024 |
|
|
292,166 |
|
|
$ |
1.08 |
|
Granted |
|
|
— |
|
|
|
— |
|
Vested |
|
|
(46,345) |
|
|
|
(1.10 |
) |
Forfeited |
|
|
— |
|
|
|
— |
|
Non-vested
at March 31, 2025 |
|
|
245,821 |
|
|
$ |
1.07 |
|
|