Subsequent Events |
6 Months Ended |
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Jun. 30, 2025 | |
Subsequent Events [Abstract] | |
Subsequent Events | 19. Subsequent Events
The Company has evaluated subsequent events through August 13, 2025. The following events occurred after the period ended June 30, 2025:
On July 12, 2025, the Company granted employees an aggregate of stock options priced at the closing stock price on July 11, 2025, vesting % at the end of the following two annual anniversaries from the grant date, and expiring years from grant date. Under these same terms, the Company granted directors an aggregate of stock options.
On July 12, 2025, the Company granted Steven Rossi stock options priced at the closing stock price on July 11, 2025, vesting % at the end of the following two annual anniversaries from the grant date, and expiring years from grant date.
On July 12, 2025, the Company granted a director stock options priced at the closing stock price on July 11, 2025, vesting pursuant to a performance milestone, and expiring years from the grant date.
On July 12, 2025, the Company granted a consultant stock options priced at the closing stock price on July 11, 2025, vesting pursuant to performance milestones, and expiring years from the grant date.
On July 14, 2025, the Company signed a lease agreement for 1,992 square feet of office space to be used as an R&D facility for its Terravis Energy subsidiary pursuant to a two-year lease effective July 18,2025 for an average monthly rent of $3,154.
On August 1, 2025, the Company submitted a $3 million purchase order and placed a deposit with an established manufacturing equipment supplier for additional machinery, with delivery currently expected in the second quarter of 2026. This additional equipment is expected to meaningfully increase production capacity at the Company’s West Seneca, NY manufacturing facility, enabling the Company to meet anticipated customer demand more efficiently, improve operational throughput, and support future revenue growth. |