Shareholders’ Equity (Tables)
|
3 Months Ended |
Mar. 31, 2025 |
Equity [Abstract] |
|
Schedule of Stock Option Activity |
A
summary of our stock option activity is as follows:
Schedule of Stock Option Activity
| |
Outstanding
Options | |
| |
March
31, 2025 | | |
March
31, 2024 | |
| |
Number
of Shares | | |
Weighted
Average Exercise Price ($) (Per
Share) | | |
Number
of Shares | | |
Weighted
Average Exercise Price ($) (Per
Share)) | |
Opening | |
| 8,647,984 | | |
| 0.26 | | |
| 11,407,772 | | |
| 0.26 | |
Granted | |
| 5,250,000 | | |
| 0.28 | | |
| 2,000,000 | | |
| 0.24 | |
Forfeited / Expired | |
| (2,269,740 | ) | |
| 0.24 | | |
| (41,250 | ) | |
| 0.41 | |
Closing | |
| 11,628,244 | | |
| 0.27 | | |
| 13,566,522 | | |
| 0.25 | |
Exercisable | |
| 4,513,879 | | |
| 0.27 | | |
| 4,459,388 | | |
| 0.30 | |
|
Schedule of Stock Options Outstanding And Exercisable |
The
following table summarizes information about stock options outstanding and exercisable under our stock incentive plans as of March 31,
2025:
Schedule of Stock Options Outstanding And Exercisable
Exercise
Price | |
Number
Outstanding | | |
Weighted
Average Remaining Contractual Life (Years) | | |
Weighted
Average Exercise Price Per Share | | |
Number
Exercisable | | |
Weighted
Average Remaining Contractual Life (Years) | | |
Weighted
Average Exercise Price Per Share | |
$0.165 to $0.25 | |
| 4,115,379 | | |
| 8.18 | | |
| 0.20 | | |
| 1,856,589 | | |
| 7.17 | | |
| 0.20 | |
$0.251 to $0.40 | |
| 6,886,290 | | |
| 9.06 | | |
| 0.29 | | |
| 2,086,290 | | |
| 7.58 | | |
| 0.27 | |
$0.401 to $0.55 | |
| 437,500 | | |
| 6.04 | | |
| 0.49 | | |
| 385,677 | | |
| 5.92 | | |
| 0.49 | |
$0.551 to $0.70 | |
| 189,075 | | |
| 6.44 | | |
| 0.62 | | |
| 185,324 | | |
| 6.43 | | |
| 0.62 | |
| |
| 11,628,244 | | |
| 8.59 | | |
| 0.27 | | |
| 4,513,880 | | |
| 7.22 | | |
| 0.28 | |
|
Schedule of Stock-based Compensation Expense |
The
following table summarizes the stock-based compensation expense (in thousands):
Schedule of Stock-based Compensation Expense
| |
March
31, 2025 | | |
March
31, 2024 | |
| |
Three
months ended | |
| |
March
31, 2025 | | |
March
31, 2024 | |
Stock options | |
$ | 91 | | |
$ | 150 | |
Restricted stock | |
| - | | |
| 8 | |
| |
$ | 91 | | |
$ | 158 | |
Consolidated Statements
of Operations account: | |
| | | |
| | |
Selling and marketing | |
$ | 12 | | |
$ | 20 | |
General and administrative | |
| 79 | | |
| 138 | |
Stock-based compensation
expense | |
$ | 91 | | |
$ | 158 | |
|
Schedule of Weighted-average Assumptions in Fair Value of Stock Options |
Schedule of Weighted-average Assumptions in Fair Value of Stock Options
| |
March
31, 2025 | | |
March
31, 2024 | |
Expected dividend yield | |
| - | | |
| - | |
Expected stock price volatility | |
| 75.0 | % | |
| 89.3 | % |
Risk-free interest rate | |
| 4.47 | % | |
| 4.20 | % |
Expected term (in years) | |
| 10.0 | | |
| 5.90 | |
Weighted-average grant date fair-value | |
$ | 0.22 | | |
$ | 0.18 | |
|
Schedule of Warrants Outstanding |
The
following table presents a summary of the Company’s outstanding warrants as of March 31, 2025:
Schedule of Warrants Outstanding
Expiry
Date | |
Number
Outstanding | | |
Remaining
Contractual Life (Years) | | |
Exercise
Price Per Share (in
dollar) | | |
Number
Exercisable | |
July 26, 2026 | |
| 3,767,500 | | |
| 1.32 | | |
$ | 0.50 | | |
| 3,767,500 | |
July 31, 2026 | |
| 800,000 | | |
| 1.33 | | |
| 0.50 | | |
| 800,000 | |
August 21, 2026 | |
| 937,500 | | |
| 1.39 | | |
| 0.50 | | |
| 937,500 | |
| |
| 5,945,400 | | |
| | | |
| | | |
| 5,945,400 | |
|