v3.25.4
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:

 

           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:

  

           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:

 

   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:

 

   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:

 

           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:

 

           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:

 

   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 

The following table presents information related to stock-based compensation 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:

 

   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:

 

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:

 

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:

 

   Number of Shares 
Non-vested at January 1, 2024   97,827 
Granted   - 
Vested   (97,827)
Forfeited   - 
Non-vested at December 31, 2024   -