v3.25.2
Equity (Tables)
6 Months Ended
Jun. 30, 2025
Equity [Abstract]  
Summary of Common Warrant Activity

The following is a summary of common warrant activity for the six months ended June 30, 2025:

 

 

Number of
Shares

 

 

Weighted-Average Exercise Price

 

 

Weighted-
Average
Remaining Term

 

Outstanding at December 31, 2024

 

 

83,574

 

 

$

32.97

 

 

 

4.91

 

Issued

 

 

12,501,473

 

 

 

3.54

 

 

 

5.00

 

Expired

 

 

(14

)

 

 

2,883.94

 

 

 

 

Outstanding at June 30, 2025

 

 

12,585,033

 

 

$

3.73

 

 

 

5.00

 

Exercisable at June 30, 2025

 

 

12,585,033

 

 

$

3.73

 

 

 

5.00

 

Summary of Stock Option Activity

The following is a summary of option activity for the six months ended June 30, 2025:

 

 

 

Number of
Shares

 

 

Weighted-
Average
Exercise Price

 

 

Weighted-
Average
Remaining Term

 

Balance at December 31, 2024

 

 

2

 

 

 

580,382

 

 

 

6.39

 

Granted

 

 

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

Forfeited

 

 

 

 

 

 

 

 

 

Outstanding at June 30, 2025

 

 

2

 

 

$

580,382

 

 

 

6.63

 

Exercisable June 30, 2025

 

 

1

 

 

$

1,090,760

 

 

 

5.59

 

Vested and expected to vest at June 30, 2025

 

 

2

 

 

$

633,378

 

 

 

6.52

 

Summary of RSU Activity

The following is a summary of RSU activity for the six months ended June 30, 2025:

 

 

 

Number of
Units

 

 

Weighted
Average Fair
Value per Unit

 

Balance at December 31, 2024

 

 

83

 

 

$

1,261.29

 

Granted

 

 

 

 

 

 

Vested

 

 

 

 

 

 

Forfeited

 

 

(8

)

 

 

430.00

 

Outstanding and expected to vest at June 30, 2025

 

 

75

 

 

$

1,349.96

 

Assumptions used in Valuing the Stock Options Granted under Black-Scholes Valuation Model valuation assumptions for warrants issued were estimated on the measurement date using the Black-Scholes option-pricing model with the following weighted-average assumptions:

 

 

For the Six Months Ended June 30,

 

 

2025

Expected dividend yield

 

0.00%

Expected volatility

 

121.45%

Risk-free interest rate

 

3.97%

Expected average life of warrants

 

5 years