Stockholders’ Equity (Tables)

6 Months Ended

Jun. 30, 2025

Schedule of Authorized, Issued and Outstanding Stock

The number of authorized, issued and outstanding stock, were as follows:


	June 30, 2025
	Authorized Shares	Issued Shares
Preferred Stock	3,900,000	—
Series B Preferred Stock	9,000,000	4,400,232
Class A Common Stock	162,815,625	122,722,249
Class B Common Stock	4,429,688	6,667
	180,145,313	127,129,148


	December 31, 2024
	Authorized Shares	Issued Shares
Preferred Stock	10,000,000	1	(a)
Class A Common Stock	99,815,625	65,919,127
Class B Common Stock	4,429,688	6,667
	114,245,313	65,925,795

(a) Series A Preferred Stock

Schedule of Stockholders' Equity Note, Warrants or Rights

The number of outstanding warrants to purchase the Company’s Class A Common Stock as of June 30, 2025 were as follows:


	Number of Warrants	Exercise Price	Expiration Date
Ares Warrants	5,776,657	$1.16	August 5, 2027
SPA Warrants	15,433	(a) $1.16 or (b) $8,568.00	Various through June 9, 2032
Junior SPA Warrants	5,931,638	$1.16	Various through September 30, 2029
2024 Unsecured SPA Warrants	25,874,953	$1.22	Various through January 21, 2030
2025 March Unsecured SPA Warrants	24,672,312	$1.46	Various through July 11, 2030
Public Warrants	2,453	$110,400.00	July 21, 2026
Private Warrants	12	$110,400.00	July 21, 2026
	62,273,458

The number of outstanding warrants to purchase the Company’s Class A Common Stock as of December 31, 2024 were as follows:


	Number of Warrants	Exercise Price		Expiration Date
Ares warrants	5,776,657	$	1.16	August 5, 2027
SPA Warrants	15,238	$	1.16	Various through November 1, 2031
Junior SPA Warrants	5,931,638	$	1.16	Various through September 30, 2029
2024 Unsecured SPA Warrants	10,788,746	$	1.39	December 31, 2029
Public Warrants	2,453	$	110,400.00	July 21, 2026
Private Warrants	12	$	110,400.00	July 21, 2026
	22,514,744

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

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+ Details