v3.25.2
STOCK AWARDS, WARRANTS AND OPTIONS (Tables)
6 Months Ended
Jun. 30, 2025
Summary of the activity of restricted stock awards

Weighted Average

Number of

Grant Date

    

RSAs

    

Fair Value

Outstanding at December 31, 2024

 

$

Granted

 

17,210

 

14.96

Vested

 

(17,210)

 

14.96

Expired/Cancelled

 

 

Outstanding at June 30, 2025

 

$

Warrant  
Schedule of warrant activity

Weighted Average

    

Warrants

    

Exercise Price

Outstanding at December 31, 2024

 

4,935,621

$

5.70

Granted

Exercised

(699)

5.70

Outstanding at June 30, 2025

 

4,934,922

$

5.70

Schedule of outstanding warrants

Warrants Outstanding

June 30, 

December 31, 

Exercise Price

Expiration

Type

    

Grant Date

    

2025

    

2024

    

per Share

    

Date

Common Warrants

10/3/2023

4,934,922

4,935,621

$

5.70

10/3/2030

4,934,922

4,935,621

Employee Stock Option  
Schedule of fair value of option using Black-Scholes option

    

Six months ended June 30, 

 

2025

2024

Expected volatility

 

112 - 115

%  

109 - 119

%

Expected term

 

5 - 6 years

 

5 - 7 years

Dividend yield

 

0

%  

0

%

Risk-free interest rates

 

3.9 - 4.5

%  

3.9 - 4.3

%

Schedule of employee and non-employee stock based compensation expense

    

Three months ended June 30, 

Six months ended June 30, 

    

2025

    

2024

    

2025

    

2024

General and administrative

$

1,716,687

$

1,300,321

$

4,717,501

$

3,578,006

Research and development

 

1,930,466

 

852,472

 

4,669,051

 

1,840,199

Total

$

3,647,153

$

2,152,793

$

9,386,552

$

5,418,205

Schedule of employee and non-employee stock option

Number of

Weighted Average

Aggregate

    

Options

    

Exercise Price

    

Intrinsic Value

Outstanding at December 31, 2024

 

10,731,183

$

4.38

 

Granted

 

2,415,527

 

14.49

 

  

Exercised

 

(149,206)

 

3.27

 

$

1,330,081

Expired/Cancelled

 

(228,419)

 

9.96

 

  

Outstanding at June 30, 2025

 

12,769,085

$

6.20

$

60,573,390

Exercisable at June 30, 2025

 

7,660,232

$

4.09

$

46,507,669