v3.25.3
EQUITY-BASED COMPENSATION (Tables)
6 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
SCHEDULE OF SHARE-BASED PAYMENT AWARD, STOCK OPTIONS, VALUATION ASSUMPTIONS

The following table provides the estimates included in the inputs to the Black-Scholes pricing model for the options granted:

 

   Three Months Ended March 31, 
   2024 
Expected term   5.0 years 
Risk-free interest rate   4.13%
Dividend yield   0.00%
Volatility   54.79%
SCHEDULE OF STOCK OPTION ACTIVITY

A summary of option activity for the six months ended June 30, 2025 is as follows:

 

   Number of
Shares
   Weighted
Average
Exercise Price
   Weighted
Average Grant
Date Fair Value
   Weighted
Average
Remaining
Contractual Term
(in years)
 
Outstanding as of December 31, 2024   1,386,400   $4.90   $2.58    8.59 
Outstanding as of June 30, 2025   1,386,400   $4.90   $2.58    7.84 
Vested and expected to vest as of June 30, 2025   1,386,400   $4.90   $2.58    7.84 
Exercisable as of June 30, 2025   1,081,300   $4.44   $1.31    7.76 
SCHEDULE OF FAIR VALUE MEASUREMENT INPUTS AND VALUATION TECHNIQUES

The following table provides the estimates included in the inputs to the Black-Scholes pricing model for the AFG and compensatory warrants granted:

 

   Three Months Ended March 31, 
   2024 
Expected term   3 years 
Risk-free interest rate   4.46%
Dividend yield   0.00%
Volatility   55.14%
SCHEDULE OF STOCK BASED COMPENSATION

The Company has recorded stock-based compensation related to its options, restricted share awards, and warrants in the accompanying unaudited condensed consolidated statements of operations as follows:

 

   2025   2024   2025   2024 
   Three Months Ended June 30,   Six Months Ended June 30, 
   2025   2024   2025   2024 
General and administrative  $71,221   $159,387   $406,623   $493,436 
Research and development   2,268   $132,223    6,723    205,154 
Total  $73,489   $291,610   $413,346   $698,590 
SCHEDULE OF ACTIVITY RELATED TO RESTRICTED SHARE AWARDS

The following table summarizes activity related to restricted share awards:

 

 

   Number of
Shares
   Weighted
Average Grant
Date Fair Value
 
Nonvested at January 1, 2025     $ 
Granted   223,586   $1.02 
Vested   (223,586)  $1.02 
Nonvested at June 30, 2025      $