v3.25.1
Warrants (Tables)
3 Months Ended
Mar. 31, 2025
Warrants [Abstract]  
Schedule of Warrant Activity

Warrant activity for the three months ended March 31, 2025 are summarized as follows:

 

Warrants  Number of
Warrants
   Weighted
Average
Exercise
Price
   Weighted
Average
Remaining
Contractual
Term
(Years)
   Aggregate
Intrinsic
Value
 
Outstanding and exercisable - January 1, 2025   5,809,799   $1.19    4.82            — 
Granted   450,000    0.80          
Expired   
                
Exercised   
                
Outstanding and exercisable - March 31, 2025   6,259,799   $1.16    4.60   $ 
Schedule of Warrants, Valuation Assumptions Using a Black-Scholes Value Model

The fair value of warrants granted during the three months ended March 31, 2025 were valued using a Black-Scholes Value model, with the following assumptions

 

Risk-free interest rate   4.48%
Contractual term   5 years 
Dividend yield   0%
Expected volatility   143%