v3.25.2
WARRANTS (Tables)
 6 Months Ended
Jun. 30, 2025
Warrants  
SUMMARY OF AGGREGATE FAIR VALUES FOR THE WARRANT DERIVATIVE LIABILITY

The following table summarizes the calculated aggregate fair values for the warrant derivative liability using the Black-Scholes method based on the following assumptions for the Offering:

 

Exercise price per share of warrant  $0.352 
Fair market closing price per share of Common Stock  $0.21 
Volatility   152%
Expected term (years)   5 
Risk-free interest rate   3.87%
Dividend yield   0%
SCHEDULE OF CLASS OF WARRANT

 

   Number of
warrants issued		  

Weighted-

average
exercise price

   Number of
warrants exercised		   Number of
warrants outstanding		 
Pre-IPO convertible notes   2,900,904   $5.31    —    2,900,904 
IPO tradeable   2,326,835    3.06    (725,580)   1,601,255 
IPO non-tradeable   3,015,464    3.06    (311,006)   2,704,458 
Direct offering March 8, 2024   1,600,000    1.64    (1,066,667)   533,333 
Placement agent direct offering March 8, 2024   32,000    1.64    —    32,000 
Inducement/direct offering August 5, 2024   1,752,082    1.50    (1,302,082)   450,000 
Placement agent direct offering August 5, 2024   49,862    1.50    —    49,862 
Direct offering October 21, 2024   2,662,782    1.50    (1,136,391)   1,526,391 
Warrant inducement February 25, 2025   2,926,166    0.85    —    2.926.166 
Public offering May 7, 2025   15,234,375    0.35    (70,313)   15,164.062 
Placement agent offering May 7, 2025   304,687    0.35    —    304,687 
Balance at June 30, 2025   32,805,157   $1.44    (4,612,039)   28,193,118