v3.25.2
Stockholders’ Equity and Convertible Preferred Stock (Tables)
6 Months Ended
Jun. 30, 2025
Stockholders’ Equity and Convertible Preferred Stock [Abstract]  
Schedule of Assumptions Used in the Company’s Fair Value Analysis
The following were assumptions used in the Company’s fair value analysis:    
     
Risk-free interest rate   4.14%
Estimated maturity date   10 years 
Underlying stock price   6.16 
Expected volatility   112.5%
Schedule of Warrant Activity

A summary of warrant activity for the six months ended June 30, 2025, is presented below:

 

       Weighted       Weighted
Average
Remaining
 
       Average
Exercise
   Total Intrinsic   Contractual
Life
 
   Warrants   Price   Value   (in years) 
Outstanding as of December 31, 2024   444,796   $29.25    
   -
    1.20 
Granted   7,752,108    3.97    
 
      
Expired   (87,598)  $28.74    
-
    - 
Exercised   (591,885)   3.94    
 
      
Outstanding as of June 30, 2025   7,517,421   $5.22    
-
    4.44 
Schedule of Restricted Stock Awards Activity

A summary of restricted stock awards activity for the six months ended June 30, 2025, is presented below:

 

       Weighted 
   Number of   Average 
   Restricted
Stock Awards
   Grant Day
Fair Value
 
Nonvested at December 31, 2024   50,000   $0.98 
Granted   1,210,969   $6.11 
Vested   (1,210,969)  $2.20 
Forfeited   
-
   $
-
 
Nonvested at June 30, 2025   50,000   $0.98 
Schedule of Option Activity Under the Company’s Stock Option Plan

A summary of option activity under the Company’s stock option plan for the six months ended June 30, 2025, is presented below:

 

               Weighted 
               Average 
       Weighted   Total   Remaining 
   Number of   Average   Intrinsic   Contractual 
   Shares   Exercise Price   Value   Life (in years) 
Outstanding as of December 31, 2024   376,654   $4.29   $
-
    8.2 
Employee options granted   10,000,000   $3.85         9.8 
Employee options expired   (103,334)  $3.21    
 
      
Employee options forfeited   (307,560)  $3.47   $47,267    - 
Outstanding as of June 30, 2025   10,346,654   $3.87   $123,633    9.7 
Options vested and exercisable   10,212,604   $3.87   $74,615    9.7