STOCK BASED COMPENSATION (Tables)
|
6 Months Ended |
Jun. 30, 2025 |
|---|
| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
| SCHEDULE OF RESTRICTED STOCK ACTIVITY |
Restricted
stock activity for the six months ended June 30, 2025, and balances as at the end of June 30, 2025, were as follows:
SCHEDULE
OF RESTRICTED STOCK ACTIVITY
| | |
Restricted Stock | |
| | |
Number of shares | | |
Weighted Average
Grant-Date Fair
Value | |
| Unvested as of December 31, 2024 | |
| 62,706 | | |
| 0.000002 | |
| Granted | |
| - | | |
| - | |
| Vested | |
| (62,706 | ) | |
| 0.000002 | |
| Forfeited | |
| - | | |
| - | |
| Unvested as of June 30, 2025 | |
| - | | |
$ | - | |
|
| 2024 Equity Incentive Plan [Member] |
|
| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
| SCHEDULE OF RESTRICTED STOCK ACTIVITY |
RSU
activity for the six months ended June 30, 2025, and balances as at the end of June 30, 2025, were as follows:
SCHEDULE
OF RESTRICTED STOCK ACTIVITY
| | |
Number of shares | | |
Weighted Average Grant-Date Fair
Value | |
| Unvested as at December 31, 2024 | |
| 1,482,081 | | |
| 11.51 | |
| Granted | |
| 1,537,196 | | |
| 0.50 | |
| Vested | |
| (1,266,860 | ) | |
| 1.73 | |
| Forfeited | |
| (820,000 | ) | |
| 11.62 | |
| Unvested as at June 30, 2025 | |
| 932,417 | | |
| 6.56 | |
|
| SCHEDULE OF ESTIMATED GRANT DATE FAIR VALUE OF PSU |
The
estimated grant date fair value of the PSUs was determined using a Monte Carlo simulation valuation model. Assumptions used in the valuation
were as follows:
SCHEDULE
OF ESTIMATED GRANT DATE FAIR VALUE OF PSU
| | |
Assumptions | |
| Fair value of Common Stock | |
$ | 11.62 | |
| Selected volatility | |
| 60 | % |
| Risk-free interest rate | |
| 3.42 | % |
| Contractual terms (years) | |
| 3.0 | |
|
| SCHEDULE OF PERFORMANCE SHARES UNITS ACTIVITY |
PSU
activity for the six months ended June 30, 2025, and balances as at the end of June 30, 2025, were as follows:
SCHEDULE
OF PERFORMANCE SHARES UNITS ACTIVITY
| | |
Number of shares | | |
Weighted Average Grant-Date Fair
Value | |
| Unvested as at December 31, 2024 | |
| 506,596 | | |
| 6.73 | |
| Granted | |
| - | | |
| - | |
| Vested | |
| - | | |
| - | |
| Forfeited | |
| - | | |
| - | |
| Unvested as at June 30, 2025 | |
| 506,596 | | |
| 6.73 | |
|
| Share-Based Payment Arrangement, Option [Member] |
|
| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
| SCHEDULE OF STOCK OPTION ACTIVITY |
Stock
option activity for the six months ended June 30, 2025, and balances as at the end of June 30, 2025, were as follows:
SCHEDULE
OF STOCK OPTION ACTIVITY
| | |
Number
of shares | | |
Weighted Average Grant-Date Fair
Value | |
| Unvested as at December 31, 2024 | |
| 709,992 | | |
| 0.56 | |
| Granted | |
| - | | |
| - | |
| Vested | |
| (103,550 | ) | |
| 0.53 | |
| Forfeited | |
| (244,494 | ) | |
| 0.58 | |
| Unvested as at June 30, 2025 | |
| 361,948 | | |
| 0.55 | |
|
| Restricted Stock Units (RSUs) [Member] |
|
| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
| SCHEDULE OF RESTRICTED STOCK ACTIVITY |
RSU
activity for the six months ended June 30, 2025, and balances as at the end of June 30, 2025, were as follows:
SCHEDULE
OF RESTRICTED STOCK ACTIVITY
| | |
Number
of shares | | |
Weighted Average Grant-Date Fair
Value | |
| Unvested as at December 31, 2024 | |
| 1,004,822 | | |
$ | 8.67 | |
| Granted | |
| - | | |
| - | |
| Vested | |
| (251,205 | ) | |
| 8.67 | |
| Forfeited | |
| - | | |
| - | |
| Unvested as at June 30, 2025 | |
| 753,617 | | |
| 8.67 | |
|