v3.25.1
Share Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2025
Share Based Compensation [Abstract]  
Schedule of Option Activity

A summary of option activity under the employee share option plan as of March 31, 2025, and changes during the year then period is presented below.

   Options   Shares of Stock 
   No. of
Options		   Weighted
Average
Price		   No. of
Shares		   Weighted
Average
Price		   Total 
Balance available under the plan as at January 1, 2025   592,252    
        —
    
     —
    
      —
    592,252 
Granted   
—
    
—
    
—
    
—
    
—
 
Cancelled/expired/exercised   2,300    4    
—
    
—
    2,300 
Additions to the plan   3,138,236                   3,138,236 
Balance available under the plan as of March 31, 2025   3,732,788    
—
    
—
    
—
    3,732,788 

 

A summary of option activity under the employee share option plan as of March 31, 2024, and changes during the year then ended is presented below.

 

   Options   Shares of Stock 
   No. of
Options		   Weighted
Average Price		   No. of
Shares		   Weighted
Average Price		   Total 
Balance available under the plan on January 1, 2024   538,265    
   —
    
      —
    
—
    538,265 
Granted   (20,000)  $
1,78
              (20,000)
Cancelled/expired   17,110                   17,110 
Additions to the plan   
-
    
-
    
-
    
-
    
-
 
Balance available under the plan on March 31, 2024   535,375    
 
    
 
    
 
    535,375 
Schedule of Unvested Options

The following table summarizes the activities for our unvested options for the year ended March 31, 2025

 

   Number of   Weighted
average
Grant Date
Fair Value		 
   Shares   Per Share 
Unvested on January 1, 2025   35,849   $1.88 
Granted   
-
    
-
 
Vested   (35,849)   1.88 
Forfeited   
-
    
-
 
Unvested on March 31, 2025   
-
   $
-
 

 

The following table summarizes the activities for our unvested options for the year ended March 31, 2024

 

   Number of   Weighted
average
Grant Date
Fair Value		 
   Shares   Per Share 
Unvested on January 1, 2024   46,928   $2.24 
Granted   -    
-
 
Vested   (31,496)   0.80 
Forfeited   (3,000)   3.50 
Unvested on March 31, 2024   75,424   $1.59 
Schedule of Fair Value Assumptions This unrecognized compensation expense is expected to be recognized over a weighted-average period of approximately two years based on vesting under the award service conditions.
Fair value assumptions  2024   2023 
Expected volatility   45%-52 %   45%-52 %
Expected terms (in years)   4    4 
Risk-free interest rate   4.70%-5.70 %   4.60%-5.46 %
Dividend yield   0%   0%