v3.25.2
Stockholders’ Equity (Tables)
6 Months Ended
Jun. 30, 2025
Stockholders’ Equity [Abstract]  
Schedule of Fair Values at the Commitment Date for the Warrants

The fair values at the commitment date for the warrants were based upon the following management assumptions as of the date of issuance:

 

   Issuance
date
 
Risk-free interest rate   4.40%
Expected dividend yield   
-
%
Expected volatility   148%
Term   5 years 
Fair value of common stock  $1.83 
Schedule of Warrant and Stock Option Grants with Time-Based Vesting

The number of shares of the Company’s common stock that are issuable pursuant to warrant and stock option grants with time-based vesting as of and for the six months ended June 30, 2025 were:

 

   Warrant Grants   Stock Option Grants   Restricted
Stock
Units
 
   Number of
shares
subject to
warrants
   Weighted-
average
exercise
price per
share
   Number of
shares
subject to
options
   Weighted-
average
exercise
price per
share
   Number of
shares
subject to
restricted
stock units
 
Balance at December 31, 2024   8,915,798   $0.92    
-
   $
-
    122,274 
Granted   34,992,009    0.41    
-
    
-
    
-
 
Exercised   
-
    
-
    
-
    
-
    
-
 
Cancelled/Expired   
-
    
-
    
-
    
-
    
-
 
Balance at June 30, 2025   43,907,807   $0.41    
-
   $
-
    122,274 
Exercisable at June 30, 2025   29,027,608   $0.41    
-
   $
-
    122,274 

 

The number of shares of the Company’s common stock that are issuable pursuant to warrant and stock option grants with time-based vesting as of and for the six months ended June 30, 2024 were:

 

   Warrant Grants   Stock Option Grants   Restricted
Stock
Units
 
   Number of
shares
subject to
warrants
   Weighted-
average
exercise
price per
share
   Number of
shares
subject to
options
   Weighted-
average
exercise
price per
share
   Number of
shares
subject to
restricted
stock units
 
Balance at December 31, 2023   11,394   $58.72    3,333   $39.60    165,663 
Granted   
-
    
-
    
-
    
-
    88,362 
Exercised   
-
    
-
    
-
    
-
    (90,029)
Cancelled/Expired   (2,293)   53.64    -    
-
    
-
 
Balance at June 30, 2024   9,101   $60.00    3,333   $39.60    163,996 
Exercisable at June 30, 2024   9,101   $60.00    3,333   $39.60    163,996 
Schedule of Company’s Outstanding Warrants

The Company’s outstanding warrants at June 30, 2025 are as follows:

 

Warrants Outstanding  Warrants Exercisable
Exercise Price
Range
  Number
Outstanding
   Weighted Average
Remaining
Contractual Life
(in years)
   Weighted
Average
Exercise Price
   Number
Exercisable
  Weighted
Average
Exercise Price
   Intrinsic
Value
 
$0.35 - $60.00   43,907,807    4.31   $0.41   29,027,608  $0.41    1,206,830 

The Company’s outstanding warrants and options at June 30, 2024 are as follows:

 

Warrants Outstanding   Warrants Exercisable 
Exercise Price
Range
   Number
Outstanding
   Weighted Average
Remaining
Contractual Life
(in years)
   Weighted
Average
Exercise Price
   Number
Exercisable
   Weighted
Average
Exercise Price
   Intrinsic 
Value
 
$60.00    9,101    1.51   $60.00    9,101   $60.00    - 

 

Options Outstanding   Options Exercisable 
Exercise Price
Range
   Number
Outstanding
   Weighted Average
Remaining
Contractual Life
(in years)
   Weighted
Average
Exercise Price
   Number
Exercisable
   Weighted
Average
Exercise Price
   Intrinsic
 Value
 
$39.60    3,333    0.41   $39.60    3,333   $39.60                            -