v3.25.2
Stock Options and Warrants
 6 Months Ended
Jun. 30, 2025
Stock Options and Warrants [Abstract]  
Stock Options and Warrants

Note 14 – Stock Options and Warrants

 

The following table summarizes the options outstanding, option exercisability and the related prices for the shares of the Company’s common stock issued to employees and consultants under a stock option plan at June 30, 2025:

 

    Options Outstanding   Options Exercisable 
Exercise Prices ($)   Number
Outstanding		   Weighted
Average
Remaining
Contractual
Life
(Years)		   Weighted
Average
Exercise
Price ($)		   Number
Exercisable		   Weighted
Average
Exercise
Price ($)		 
$2.98-7.74    252,102    0.46   $6.15    252,102   $6.15 

 

The stock option activity for the six months ended June 30, 2025 is as follows:

 

   Options
Outstanding		   Weighted Average
Exercise Price		 
Outstanding at December 31, 2024   252,102   $6.15 
Granted   -    - 
Exercised   -    - 
Expired or canceled   -    - 
Outstanding at June 30, 2025   252,102   $6.15 

 

Stock-based compensation expense related to vested options was $0 during both the six months ended June 30, 2025 and 2024. Stock options outstanding as of June 30, 2025, as disclosed in the above table, have an intrinsic value of $0.

 

The following table summarizes the changes in warrants outstanding and the related prices for the shares of the Company’s common stock issued at June 30, 2025:

 

    Warrants Outstanding   Warrants Exercisable 
Exercise Price ($)   Number
Outstanding		   Weighted
Average
Remaining
Contractual
Life
(Years)		   Weighted
Average
Exercise
Price ($)		   Number
Exercisable		   Weighted
Average
Exercise
Price ($)		 
$11.70    103,500    3.57   $11.70    103,500   $11.70 

The warrant activity for the six months ended June 30, 2025 is as follows:

 

   Warrants
Outstanding		   Weighted Average
Exercise Price		 
Outstanding at December 31, 2024   103,500   $11.70 
Granted   428,570    0.00001 
Exercised   (428,570)   (0.00001)
Expired or canceled   -    - 
Outstanding at June 30, 2025   103,500   $11.70 

 

Stock warrants outstanding as of June 30, 2025, as disclosed in the above table, have an intrinsic value of $0.

 

During June 2025, the Company issued 428,570 warrants valued at $899,993 to settle a loan payable to a shareholder. The Company determined the value of the warrants using the Black-Scholes fair value option-pricing model with the following weighted average assumptions: estimated fair value of the Company’s common stock of $2.10, risk-free interest rate of 4.30%, volatility of 97%, expected term of 0.1 years and dividend yield of 0%.