STOCKHOLDERS’ EQUITY (Tables)
|
9 Months Ended |
12 Months Ended |
Sep. 30, 2025 |
Dec. 31, 2024 |
| Equity [Abstract] |
|
|
| SCHEDULE OF WARRANT ACTIVITY |
A
summary of the Company’s warrant activity and related information follows:
SCHEDULE OF WARRANT ACTIVITY
| | |
| | |
| | |
Weighted | |
| | |
| | |
Weighted | | |
Average | |
| | |
| | |
Average | | |
Remaining | |
| | |
Number of | | |
Exercise | | |
Life | |
| | |
Warrants | | |
Price | | |
In Years | |
| Outstanding, January 1, 2025 | |
| 3,951,634 | | |
$ | 5.22 | | |
| | |
| Expired | |
| (250 | ) | |
| 60.00 | | |
| | |
| Outstanding, September 30, 2025 | |
| 3,951,384 | | |
$ | 5.21 | | |
| 2.55 | |
| | |
| | | |
| | | |
| | |
| Exercisable, September 30, 2025 | |
| 3,951,384 | | |
$ | 5.21 | | |
| 2.55 | |
|
A
summary of the warrant activity during the year ended December 31, 2024 is presented below:
SCHEDULE OF WARRANT ACTIVITY
| | |
| | |
| | |
Weighted | |
| | |
| | |
Weighted | | |
Average | |
| | |
| | |
Average | | |
Remaining | |
| | |
Number of | | |
Exercise | | |
Life | |
| | |
Warrants | | |
Price | | |
In Years | |
| Outstanding, January 1, 2024 | |
| 4,791,019 | | |
$ | 10.57 | | |
| | |
| Granted | |
| 2,513,686 | | |
| 2.43 | | |
| | |
| Exercised | |
| (3,351,580 | ) | |
| 2.33 | | |
| | |
| Expired | |
| (1,491 | ) | |
| 1,770 | | |
| | |
| Outstanding, December 31, 2024 | |
| 3,951,634 | | |
$ | 5.22 | | |
| 3.30 | |
| | |
| | | |
| | | |
| | |
| Exercisable, December 31, 2024 | |
| 3,951,634 | | |
$ | 5.22 | | |
| 3.30 | |
|
| SCHEDULE OF STOCK OPTION GRANTED ASSUMPTIONS |
In
applying the Black-Scholes option pricing model to stock options granted, the Company used the following assumptions:
SCHEDULE
OF STOCK OPTION GRANTED ASSUMPTIONS
| | |
For the Nine Months Ended | |
| | |
September 30, | |
| | |
2025 | | |
2024 | |
| Risk free interest rate | |
| 4.03 - 4.40% | | |
| 4.14 - 4.30% | |
| Expected term (years) | |
| 2.77 - 5.38 | | |
| 2.77 - 5.38 | |
| Expected volatility | |
| 98.14 - 99.22% | | |
| 101 - 102% | |
| Expected dividends | |
| 0.00% | | |
| 0.00% | |
|
In
applying the Black-Scholes option pricing model to stock options granted, the Company used the following assumptions:
SCHEDULE
OF STOCK OPTION GRANTED ASSUMPTIONS
| | |
For the Years Ended | |
| | |
December 31, | |
| | |
2024 | | |
2023 | |
| Risk free interest rate | |
| 4.14 - 4.30% | | |
| 4.22 | % |
| Expected term (years) | |
| 2.77 - 5.38 | | |
| 3.5 | |
| Expected volatility | |
| 101 - 102% | | |
| 175.00 | % |
| Expected dividends | |
| 0.00 | % | |
| 0.00 | % |
|
| SCHEDULE OF STOCK OPTION ACTIVITY |
A
summary of the stock option activity during the nine months ended September 30, 2025 is
presented below:
SCHEDULE
OF STOCK OPTION ACTIVITY
| | |
| | |
| | |
Weighted | | |
| |
| | |
| | |
Weighted | | |
Average | | |
| |
| | |
| | |
Average | | |
Remaining | | |
| |
| | |
Number of | | |
Exercise | | |
Life | | |
Intrinsic | |
| | |
Options | | |
Price | | |
In Years | | |
Value | |
| Outstanding, January 1, 2025 | |
| 3,263,467 | | |
$ | 2.63 | | |
| | | |
| | |
| Granted | |
| 2,177,908 | | |
| 2.45 | | |
| | | |
| | |
| Exercised | |
| (29,249 | ) | |
| 1.45 | | |
| | | |
| | |
| Forfeited | |
| (149,153 | ) | |
| 2.23 | | |
| | | |
| | |
| Outstanding, September 30, 2025 | |
| 5,262,973 | | |
$ | 2.58 | | |
| 7.8 | | |
$ | - | |
| | |
| | | |
| | | |
| | | |
| | |
| Exercisable, September 30, 2025 | |
| 3,805,964 | | |
$ | 2.72 | | |
| 7.3 | | |
$ | - | |
|
A
summary of the option activity during the year ended December 31, 2024 is presented below:
SCHEDULE
OF STOCK OPTION ACTIVITY
| | |
| | |
| | |
Weighted | | |
| |
| | |
| | |
Weighted | | |
Average | | |
| |
| | |
| | |
Average | | |
Remaining | | |
| |
| | |
Number of | | |
Exercise | | |
Life | | |
Intrinsic | |
| | |
Options | | |
Price | | |
In Years | | |
Value | |
| Outstanding, January 1, 2024 | |
| 1,466,892 | | |
$ | 4.11 | | |
| | | |
| | |
| Granted | |
| 1,934,716 | | |
| 1.45 | | |
| | | |
| | |
| Exercised | |
| - | | |
| - | | |
| | | |
| | |
| Forfeited | |
| (138,141 | ) | |
| 1.76 | | |
| | | |
| | |
| Outstanding, December 31, 2024 | |
| 3,263,467 | | |
$ | 2.63 | | |
| 7.5 | | |
$ | - | |
| Exercisable, December 31, 2024 | |
| 2,499,132 | | |
$ | 2.95 | | |
| 7.1 | | |
$ | - | |
|
| SCHEDULE OF STOCK OPTION EXPENSE |
The
following table presents information related to stock-based compensation expense:
SCHEDULE OF STOCK-BASED COMPENSATION EXPENSE
| | |
2025 | | |
2024 | | |
2025 | | |
2024 | | |
2025 | | |
(Years) | |
| | |
For the Three Months Ended | | |
For the Nine Months Ended | | |
Unrecognized at | | |
Weighted Average Remaining Amortization | |
| | |
September 30, | | |
September 30, | | |
September 30, | | |
Period | |
| | |
2025 | | |
2024 | | |
2025 | | |
2024 | | |
2025 | | |
(Years) | |
| Research and development | |
$ | 175,398 | | |
$ | 133,333 | | |
$ | 1,308,322 | | |
$ | 1,314,298 | | |
| | | |
| | |
| General and administrative | |
$ | 224,535 | | |
$ | 150,912 | | |
$ | 1,569,444 | | |
$ | 1,322,643 | | |
| | | |
| | |
| Total | |
$ | 399,932 | | |
$ | 284,245 | | |
$ | 2,877,766 | | |
$ | 2,636,941 | | |
$ | 1,878,612 | | |
| 1.76 | |
| Stock-based compensation expense | |
$ | 399,932 | | |
$ | 284,245 | | |
$ | 2,877,766 | | |
$ | 2,636,941 | | |
$ | 1,878,612 | | |
$ | 1.76 | |
|
The
following table presents information related to stock-based compensation expense:
SCHEDULE OF STOCK OPTION EXPENSE
| | |
For the Years Ended December 31, | | |
Unrecognized at December 31, | | |
Weighted Average Remaining
Amortization Period | |
| | |
2024 | | |
2023 | | |
2024 | | |
(Years) | |
| General and administrative | |
$ | 2,812,566 | | |
$ | 7,782,967 | | |
$ | 774,470 | | |
| 0.95 | |
| Total | |
$ | 2,812,566 | | |
$ | 7,782,967 | | |
$ | 774,470 | | |
| 0.95 | |
|
| SCHEDULE OF STOCK-BASED COMPENSATION EXPENSE BY AWARD TYPE |
The
following table presents stock-based compensation by award type:
SCHEDULE
OF STOCK-BASED COMPENSATION EXPENSE BY AWARD TYPE
| | |
2025 | | |
2024 | | |
2025 | | |
2024 | |
| | |
For the Three Months Ended | | |
For the Nine Months Ended | |
| | |
September 30, | | |
September 30, | |
| | |
2025 | | |
2024 | | |
2025 | | |
2024 | |
| Options | |
$ | 399,932 | | |
$ | 284,245 | | |
$ | 2,877,766 | | |
$ | 1,651,903 | |
| RSUs | |
| - | | |
| - | | |
| - | | |
| 985,038 | |
| Total | |
$ | 399,932 | | |
$ | 284,245 | | |
$ | 2,877,766 | | |
$ | 2,636,941 | |
|
|
| SCHEDULE OF STOCK WARRANTS |
|
The
following table presents information related to stock warrants at December 31, 2024:
SCHEDULE
OF STOCK WARRANTS
| Warrants Outstanding | | |
Warrants Exercisable | |
| | | |
| | |
Weighted | | |
| |
| | | |
Outstanding | | |
Average | | |
Exercisable | |
| Exercise | | |
Number of | | |
Remaining Life | | |
Number of | |
| Price | | |
Warrants | | |
In Years | | |
Warrants | |
| | | |
| | |
| | |
| |
| $ | 2.43 | | |
| 2,513,686 | | |
| 4.1 | | |
| 2,513,686 | |
| $ | 2.92 | | |
| 51,370 | | |
| 2.9 | | |
| 51,370 | |
| $ | 10.00 | | |
| 1,150,358 | | |
| 1.9 | | |
| 1,150,358 | |
| $ | 12.00 | | |
| 235,970 | | |
| 1.9 | | |
| 235,970 | |
| $ | 60.00 | | |
| 250 | | |
| 0.0 | | |
| 250 | |
| | | | |
| 3,951,634 | | |
| | | |
| 3,951,634 | |
|
| SCHEDULE OF INFORMATION RELATED TO STOCK OPTIONS |
|
The
following table presents information related to stock options at December 31, 2024:
SCHEDULE OF INFORMATION RELATED TO STOCK OPTIONS
| Options Outstanding | | |
Options Exercisable | |
| | | |
| | |
Weighted | | |
| |
| | | |
Outstanding | | |
Average | | |
Exercisable | |
| Exercise | | |
Number of | | |
Remaining Life | | |
Number of | |
| Price | | |
Options | | |
In Years | | |
Options | |
| | | |
| | |
| | |
| |
| $ | 1.45 | | |
| 1,825,067 | | |
| 8.1 | | |
| 1,138,579 | |
| $ | 2.91 | | |
| 626,215 | | |
| 6.7 | | |
| 548,368 | |
| $ | 5.08 | | |
| 812,185 | | |
| 5.9 | | |
| 812,185 | |
| | | | |
| 3,263,467 | | |
| | | |
| 2,499,132 | |
|
| SCHEDULE OF UNVESTED RESTRICTED STOCK UNITS |
|
A
summary of the unvested RSUs as of December 31, 2024 is as follows:
SCHEDULE
OF UNVESTED RESTRICTED STOCK UNITS
| | |
Number of Shares | |
| Non-vested at January 1, 2024 | |
| 97,827 | |
| Granted | |
| - | |
| Vested | |
| (97,827 | ) |
| Forfeited | |
| - | |
| Non-vested at December 31, 2024 | |
| - | |
|