v3.25.2
Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2025
Stock-Based Compensation  
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

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

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

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