v3.25.1
STOCKHOLDERS’ EQUITY (Tables)
3 Months Ended 12 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Equity [Abstract]    
SCHEDULE OF OUTSTANDING WARRANTS AND CHANGES

A summary of the status of the Company’s total outstanding warrants and changes during the three months ended March 31, 2025 are as follows:

 

   Number of
Warrants
   Weighted
Average
Exercise
Price
   Weighted
Average
Remaining
Contractual
Term (Years)
   Aggregate
Intrinsic
Value (1)
 
Balance Outstanding on December 31, 2024   125,531   $4.09    3.26   $90,952 
Issued   12,500    4.07    5.0    - 
Balance Outstanding on March 31, 2025   138,031   $4.09    3.20   $23,599 
Exercisable, March 31, 2025   125,531   $4.09    3.02   $23,599 
 
   Number of
Warrants
   Weighted
Average
Exercise
Price
   Weighted
Average
Remaining
Contractual
Term (Years)
   Aggregate
Intrinsic
Value (1)
 
Balance Outstanding on December 31, 2023   611,017   $1.00    2.5   $574,356 
Issued   85,938    1.00    3.0    - 
Balance Outstanding on March 31, 2024   696,955   $1.00    2.3   $669,077 
Exercisable, March 31, 2024   696,955   $1.00    2.3   $669,077 

 

(1)The aggregate intrinsic value on March 31, 2024 was calculated based on the difference between the calculated fair value on March 31, 2024 of $1.96 and the exercise price of the underlying warrants. The aggregate intrinsic value on December 31, 2023 was calculated based on the difference between the calculated fair value on December 31, 2023 of $1.94 and the exercise price of the underlying warrants.
 

A summary of the status of the Company’s total outstanding warrants and changes during the years ending December 31, 2024 and 2023 are as follows:

 

   Number of
Warrants
   Weighted
Average
Exercise
Price
   Weighted
Average
Remaining
Contractual
Term (Years)
   Aggregate
Intrinsic
Value (1)
 
Balance Outstanding on December 31, 2022   148,438   $1.00    3.0   $139,532 
Issued   462,579    1.00    3.0    - 
Balance Outstanding on December 31, 2023   611,017    1.00    2.5    574,356 
Issued   289,751    2.70    3.0    - 
Exercised   (775,237)   1.13           
Balance Outstanding on December 31, 2024   125,531    4.09    3.26    90,952 
Exercisable, December 31, 2024   125,531   $4.09    3.26   $90,952 

 

(1)The aggregate intrinsic value on December 31, 2023 and December 31, 2022, was calculated based on the difference between the calculated fair value on December 31, 2023 and December 31, 2022, of $1.94 and the exercise price of the underlying warrants. The balance on December 31, 2024, had an intrinsic value per share of $3.83, which is representative of the closing price of the Company’s common stock on Nasdaq market exchange on such date.
   
  The Company determined that the warrants do not meet the definition of liability under FASB ASC Topic 480 and therefore classified the warrants as equity instruments.
SCHEDULE OF STOCK OPTION ACTIVITY

A summary of the Company’s stock option activity is as follows:

 

   Shares Underlying Options   Weighted Average Exercise Price   Weighted Average Contractual Life (Years)   Intrinsic Value 
Outstanding at December 31, 2024   322,500   $3.40    4.97   $138,675 
Granted   350,000    7.36    5.00    - 
Forfeited   -    -    -    - 
Exercised   -    -    -    - 
Outstanding at March 31, 2025   672,500    5.46    2.56    - 
                     
Exercisable at March 31, 2025   236,250    3.91    4.78    - 

A summary of the Company’s stock option activity is as follows:

 

   Shares Underlying Options   Weighted Average Exercise Price   Weighted Average Contractual Life (Years)   Intrinsic Value 
Outstanding at December 31, 2023   -   $-    -    - 
Granted   -    -    -    - 
Forfeited   -    -    -    - 
Exercised   -    -    -    - 
Outstanding at December 31, 2023   -    -    -    - 
Granted   322,500    3.40    5.0    - 
Forfeited   -    -    -    - 
Exercised   -    -    -    - 
Outstanding at December 31, 2024   322,500   $3.40    4.97   $138,675 
SCHEDULE OF WEIGHTED AVERAGE ASSUMPTIONS OF OPTIONS

The options granted during the three months ended March 31, 2025 were valued using the Black-Scholes option pricing model using the following weighted average assumptions:

 

   March 31, 2025 
Expected term, in years   5.0 
Expected volatility   55.79%
Risk-free interest rate   4.09%
Dividend yield   - 

The options granted during the years ended December 31, 2024 were valued using the Black-Scholes option pricing model using the following weighted average assumptions:

 

   December 31, 2024 
Expected term, in years   4.06 
Expected volatility   50.45%
Risk-free interest rate   4.39%
Dividend yield   - 
SCHEDULE OF BLACK-SCHOLES OPTION PRICING MODEL TO WARRANTS GRANTED ASSUMPTION

The warrants granted during the three months ended March 31, 2025 were valued using the Black-Scholes option pricing model using the following weighted average assumptions:

 

   March 31, 2025 
Expected term, in years   5.0 
Expected volatility   54.41%
Risk-free interest rate   4.01%
Dividend yield   -