Stock-Based Compensation (Tables)
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6 Months Ended |
Jun. 30, 2025 |
Stock-Based Compensation |
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Schedule of weighted average valuation assumptions for stock options |
| | | | | | | | June 30, | | June 30, | | | | 2025 | | 2024 | | Risk-Free Interest Rate | | 4.53 | % | 4.49 | % | Weighted Average Exercise Price | $ | 0.49 | $ | 0.54 | | Weighted Average Stock Price | $ | 0.49 | $ | 0.54 | | Expected Life of Options (years) | | 7.00 | | 7.00 | | Expected Annualized Volatility | | 100.00 | % | 100.00 | % | Grant Fair Value | $ | 0.41 | $ | 0.45 | | Expected Forfeiture Rate | | N/A | | N/A | | Expected Dividend Yield | | N/A | | N/A | |
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Schedule of stock option activity |
| | | | | | | | | | | | Weighted Average | | Weighted Avg. | | | Number of Options | | Exercise Price | | Remaining Life | Balance, December 31, 2023 | | 29,969,324 | | $ | 0.50 | | 6.18 | Forfeitures | | (2,760,530) | | | 1.29 | | — | Exercised | | (50,000) | | | 0.33 | | — | Granted | | 4,073,839 | | | 0.48 | | — | Options Outstanding at December 31, 2024 | | 31,232,633 | | $ | 0.43 | | 5.45 | Forfeitures | | (584,210) | | | 0.34 | | — | Exercised | | (448,546) | | | 0.18 | | — | Granted | | 159,156 | | | 0.49 | | — | Options Outstanding at June 30, 2025 | | 30,359,033 | | $ | 0.43 | | 5.03 | | | | | | | | | Options Exercisable at June 30, 2025 | | 27,323,701 | | $ | 0.42 | | 4.62 |
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Summary of warrants outstanding |
| | | | | | | | | | Number of | | Weighted Average | | Weighted Average | SVS Warrants | | Warrants | | Exercise Price | | Remaining Life | Warrants outstanding at December 31, 2023 | | 16,400,000 | | $ | 0.21 | | 4.57 | Exercised | | (480,437) | | | 0.15 | | — | Warrants outstanding at December 31, 2024 | | 15,919,563 | | $ | 0.22 | | 3.56 | Forfeited | | (150,000) | | | 1.49 | | — | Exercised | | (265,626) | | | 0.145 | | — | Warrants outstanding at June 30, 2025 | | 15,503,937 | | $ | 0.22 | | 3.07 | | | | | | | | | Warrants exercisable at June 30, 2025 | | 15,503,937 | | $ | 0.22 | | 3.07 |
| | | | | | | | | | Number of | | Weighted Average | | Weighted Average | SVS Warrants Denominated in C$ | | Warrants | | Exercise Price | | Remaining Life | Warrants outstanding at December 31, 2023 and 2024 | | 3,037,649 | | $ | 3.50 | | 1.23 | Warrants outstanding at June 30, 2025 | | 3,037,649 | | $ | 3.50 | | 0.73 | | | | | | | | | Warrants exercisable at June 30, 2025 | | 3,037,649 | | $ | 3.50 | | 0.73 |
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Summary of RSU activity |
| | | | | | | | | | Weighted Avg. | | | Number of Shares | | Fair Value | Balance, December 31, 2023 | | 2,543,011 | | $ | 0.88 | Granted | | 9,228,462 | | | 0.31 | Forfeitures | | (443,943) | | | 1.34 | Balance, December 31, 2024 | | 11,327,530 | | | 0.40 | Granted | | 62,589,414 | | | 0.35 | Settled | | (1,752,453) | | | 0.94 | Forfeitures | | (66,341) | | | 1.81 | Balance, June 30, 2025 | | 72,098,150 | | | 0.34 | | | | | | | Vested at June 30, 2025 | | 2,450,615 | | $ | 0.41 |
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