| Schedule of Stock Option Activity |
Stock option activity under
the Plan was as follows:
| | | Number of
Options | | | Weighted-
Average
Exercise Price
per Share | | | Weighted-
Average
Remaining
Contractual
Term
(years) | | | Outstanding at December 31, 2024 | | | 3,790,702 | | | $ | 1.04 | | | | 5.98 | | | Granted | | | 30,000 | | | | 1.82 | | | | - | | | Exercised | | | (24,420 | ) | | | - | | | | - | | | Forfeited | | | (12,245 | ) | | | 2.78 | | | | - | | | Outstanding at March 31, 2025 | | | 3,784,037 | | | $ | 1.64 | | | | 8.50 | | | Exercisable at March 31, 2025 | | | 3,744,271 | | | | | | | | | |
|
Stock
option activity under the Plan was as follows for the year ended December 31, 2024:
| | | Number of
Options | | | Weighted-
Average
Exercise Price
per Share | | | Weighted-
Average
Remaining
Contractual
Term
(years) | | | Outstanding at December 31, 2023, recasted | | | 1,202,724 | | | $ | 0.55 | | | | 5.85 | | | Granted | | | 3,063,139 | | | | 1.78 | | | | - | | | Exercised | | | (60,454 | ) | | | - | | | | - | | | Forfeited | | | (9,127 | ) | | | 0.54 | | | | - | | | Outstanding at December 31, 2024 | | | 4,196,282 | | | | 1.04 | | | | 5.98 | | | Exercisable at December 31, 2024 | | | 4,145,552 | | | | | | | | | |
|
| Schedule of Fair Value of Options Granted |
The assumptions used to calculate
the fair value of the options granted during the three months ended March 31, 2025, were as follows: | | | March 31,
2025 | | | Stock Price | | $ | 1.82 | | | Expected term (years) | | | 5.0 | | | Volatility | | | 75.0 | % | | Risk-Free Rate | | | 4.12 | % |
|
The assumptions used to calculate the fair value of the options granted during
the years ended December 31, 2024 are as follows: | | | December 31,
2024 | | | Stock Price | | $ | 3.89 | | | Expected term (years) | | | 2.0 | | | Volatility | | | 75.0 | % | | Risk-Free Rate | | | 4.25 | % |
|
| Schedule of Restricted Stock Unit Activity |
|
Restricted
stock unit activity under the Plan was as follows for the year ended December 31, 2024:
| | |
Number
of
units | | |
Weighted-
Average
Grant Date
Fair Value
per Unit | |
| | |
| | |
| |
| Outstanding at September 12, 2024 | |
| - | | |
$ | - | |
| RSUs granted | |
| 405,580 | | |
| 3.08 | |
| Vested | |
| (405,580 | ) | |
| 3.08 | |
| Outstanding at December 31, 2024 | |
| - | | |
| - | |
|