Stock-Based Compensation (Tables)
|
3 Months Ended |
12 Months Ended |
Mar. 31, 2025 |
Dec. 31, 2024 |
| Share-Based Payment Arrangement [Abstract] |
|
|
| Summary of Stock Option Activities |
The following is a summary of stock option activities for the three months ended March 31, 2025 and 2024:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of stock
options |
|
|
Weighted average
exercise price |
|
|
Weighted average
grant date
fair value |
|
Outstanding January 1, 2024 |
|
|
470,668 |
|
|
$ |
0.25 |
|
|
$ |
0.54 |
|
Granted |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Exercised |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Forfeited |
|
|
(157,334 |
) |
|
|
0.37 |
|
|
|
0.24 |
|
Outstanding March 31, 2024 |
|
|
313,334 |
|
|
$ |
0.25 |
|
|
$ |
0.01 |
|
|
|
|
|
|
|
|
|
|
|
Outstanding Jan 1, 2025 |
|
|
246,667 |
|
|
$ |
0.25 |
|
|
$ |
0.67 |
|
Granted |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Exercised |
|
|
(50,000 |
) |
|
|
0.25 |
|
|
|
0.67 |
|
Forfeited |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Outstanding March 31, 2025 |
|
|
196,667 |
|
|
$ |
0.25 |
|
|
$ |
0.67 |
|
|
The following is a summary of stock option activities for the years ended December 31, 2024 and 2023:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of stock
options |
|
|
Weighted average
exercise price |
|
|
Weighted average
grant date
fair value |
|
Outstanding January 1, 2023 |
|
|
820,668 |
|
|
$ |
0.25 |
|
|
$ |
0.48 |
|
Granted |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Exercised |
|
|
(150,000 |
) |
|
|
0.48 |
|
|
|
0.16 |
|
Forfeited |
|
|
(200,000 |
) |
|
|
0.25 |
|
|
|
0.57 |
|
Outstanding December 31, 2023 |
|
|
470,668 |
|
|
$ |
0.25 |
|
|
$ |
0.54 |
|
Granted |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Exercised |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Forfeited |
|
|
(224,001 |
) |
|
|
0.31 |
|
|
|
0.46 |
|
Outstanding December 31, 2024 |
|
|
246,667 |
|
|
$ |
0.25 |
|
|
$ |
0.67 |
|
|
| Summary of Stock Options Outstanding and Exercisable |
As of March 31, 2025, the following stock options were outstanding and exercisable:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding |
|
|
Exercisable |
|
|
Exercise Price |
|
|
Remaining life (years) |
|
|
Expiry Date |
|
196,667 |
|
|
|
196,667 |
|
|
$ |
0.25 |
|
|
|
— |
|
|
June 23, 2025 |
|
196,667 |
|
|
|
196,667 |
|
|
|
|
|
|
|
|
|
As of March 31, 2024, the following stock options were outstanding and exercisable:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding |
|
|
Exercisable |
|
|
Exercise Price |
|
|
Remaining life (years) |
|
|
Expiry Date |
|
313,334 |
|
|
|
313,334 |
|
|
$ |
0.25 |
|
|
|
1.23 |
|
|
June 23, 2025 |
|
313,334 |
|
|
|
313,334 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of December 31, 2024, the following stock options were outstanding and exercisable:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding |
|
|
Exercisable |
|
|
Exercise Price |
|
|
Remaining life (years) |
|
|
Expiry Date |
|
246,667 |
|
|
|
246,667 |
|
|
$ |
0.25 |
|
|
|
— |
|
|
June 23, 2025 |
|
246,667 |
|
|
|
246,667 |
|
|
|
|
|
|
|
|
|
As of December 31, 2023, the following stock options were outstanding and exercisable:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding |
|
|
Exercisable |
|
|
Exercise Price |
|
|
Remaining life (years) |
|
|
Expiry Date |
|
420,668 |
|
|
|
420,668 |
|
|
$ |
0.25 |
|
|
|
1.48 |
|
|
June 23, 2025 |
|
50,000 |
|
|
|
50,000 |
|
|
$ |
0.62 |
|
|
|
1.73 |
|
|
September 23, 2025 |
|
470,668 |
|
|
|
470,668 |
|
|
|
|
|
|
|
|
|
|
| Summary of RSU Activities |
The following is a summary of RSU activities for the three months ended March 31, 2025 and 2024:
|
|
|
|
|
|
|
|
|
|
|
Number of RSUs |
|
|
Weighted average grant date fair value per RSU |
|
Outstanding January 1, 2024 |
|
|
5,056,268 |
|
|
$ |
0.98 |
|
Granted |
|
|
2,573,333 |
|
|
|
0.52 |
|
Vested |
|
|
(814,142 |
) |
|
|
1.01 |
|
Forfeited |
|
|
(850,437 |
) |
|
|
1.11 |
|
Outstanding March 31, 2024 |
|
|
5,965,022 |
|
|
$ |
0.76 |
|
|
|
|
|
|
|
|
Outstanding January 1, 2025 |
|
|
5,268,373 |
|
|
$ |
0.65 |
|
Granted |
|
|
4,149,000 |
|
|
|
0.67 |
|
Vested |
|
|
(1,876,109 |
) |
|
|
0.60 |
|
Forfeited |
|
|
(246,669 |
) |
|
|
0.66 |
|
Outstanding March 31, 2025 |
|
|
7,294,595 |
|
|
$ |
0.67 |
|
|
The following is a summary of RSU activities for the years ended December 31, 2024 and 2023:
|
|
|
|
|
|
|
|
|
|
|
Number of RSUs |
|
|
Weighted average grant date fair value per RSU |
|
Outstanding January 1, 2023 |
|
|
3,305,837 |
|
|
$ |
1.14 |
|
Granted |
|
|
4,351,944 |
|
|
|
0.91 |
|
Vested |
|
|
(1,741,152 |
) |
|
|
0.87 |
|
Forfeited |
|
|
(860,361 |
) |
|
|
0.88 |
|
Outstanding December 31, 2023 |
|
|
5,056,268 |
|
|
$ |
0.98 |
|
Granted |
|
|
4,010,000 |
|
|
|
0.52 |
|
Vested |
|
|
(2,080,648 |
) |
|
|
1.01 |
|
Forfeited |
|
|
(1,612,247 |
) |
|
|
0.90 |
|
Outstanding December 31, 2024 |
|
|
5,373,373 |
|
|
$ |
0.65 |
|
|