| SUMMARY OF STOCK OPTION ACTIVITY |
SUMMARY OF STOCK OPTION ACTIVITY
| | |
For the Year Ended December 31, 2025 | |
| | |
Number of stock options | | |
Weighted average exercise price | |
| | |
| | |
| |
| Outstanding as of December 31, 2024 | |
| 2,497,366 | | |
$ | 4.70 | |
| Granted | |
| 781,875 | | |
| 2.12 | |
| Exercised | |
| (47,218 | ) | |
| 0.01 | |
| Forfeitures | |
| (126,408 | ) | |
| 3.30 | |
| Outstanding as of December 31, 2025 | |
| 3,105,615 | | |
$ | 4.18 | |
| | |
| | | |
| | |
| Exercisable as of December 31, 2025 | |
| 2,342,707 | | |
$ | 4.91 | |
| | |
For the Year Ended December 31, 2024 | |
| | |
Number of stock options | | |
Weighted average exercise price | |
| | |
| | |
| |
| Outstanding as of December 31, 2023 | |
| 2,095,362 | | |
$ | 5.51 | |
| Granted | |
| 562,067 | | |
| 1.24 | |
| Forfeitures | |
| (160,063 | ) | |
| 3.23 | |
| Outstanding as of December 31, 2024 | |
| 2,497,366 | | |
$ | 4.70 | |
| | |
| | | |
| | |
| Exercisable as of December 31, 2024 | |
| 1,866,523 | | |
$ | 5.63 | |
|
| SCHEDULE OF STOCK OPTIONS OUTSTANDING |
The
stock options outstanding as of December 31, 2025 and 2024, summarized by exercise prices, are as follows:
SCHEDULE OF STOCK OPTIONS OUTSTANDING
Exercise price
$ | |
Stock options outstanding as of December 31, 2025 | | |
Stock options outstanding as of December 31, 2024 | | |
Weighted average remaining contractual life – years as of December 31, 2025 | | |
Weighted average remaining contractual life – years as of December 31, 2024 | | |
Stock options exercisable as of December 31, 2025 | | |
Stock options exercisable as of December 31, 2024 | |
| 0.00-0.99 | |
| 39,359 | | |
| 86,577 | | |
| 5.66 | | |
| 3.8 | | |
| 26,234 | | |
| 61,577 | |
| 1.00-3.73 | |
| 2,032,875 | | |
| 1,299,562 | | |
| 8.31 | | |
| 8.7 | | |
| 1,283,092 | | |
| 731,559 | |
| 4.2-7.26 | |
| 499,636 | | |
| 577,482 | | |
| 5.82 | | |
| 5.9 | | |
| 499,636 | | |
| 539,642 | |
| 8.16-9.64 | |
| 380,872 | | |
| 380,872 | | |
| 4.56 | | |
| 5.6 | | |
| 380,872 | | |
| 380,872 | |
| 15.3-15.75 | |
| 152,873 | | |
| 152,873 | | |
| 1.76 | | |
| 2.7 | | |
| 152,873 | | |
| 152,873 | |
| | |
| 3,105,615 | | |
| 2,497,366 | | |
| | | |
| | | |
| 2,342,707 | | |
| 1,866,523 | |
|
| SCHEDULE OF WARRANTS OUTSTANDING |
The
remaining outstanding warrants and terms as of December 31, 2025 and 2024 are as follows:
SCHEDULE OF WARRANTS OUTSTANDING
| Issuance date | |
Outstanding and exercisable as of December 31, 2025 | | |
Outstanding and exercisable as of December 31, 2024 | | |
Exercise Price | | |
Exercisable
Through |
| Warrant to underwriters October 2022 | |
| 51,125 | | |
| 51,125 | | |
$ | 6.11 | | |
October 21, 2027 |
| Warrant to underwriters May 2023 | |
| 32,778 | | |
| 32,778 | | |
$ | 2.75 | | |
November 23, 2026 |
| Warrant to underwriters May 2023 | |
| 60,476 | | |
| 60,476 | | |
$ | 2.75 | | |
November 24, 2026 |
| Warrant to underwriters June 2023 | |
| 35,088 | | |
| 35,088 | | |
$ | 2.67 | | |
June 2, 2028 |
| | |
| | | |
| | | |
| | | |
|
| Warrant to underwriters June 2023 | |
| 31,231 | | |
| 31,231 | | |
$ | 4.06 | | |
June 28, 2028 |
| | |
| | | |
| | | |
| | | |
|
| Warrant series E January 2024 | |
| - | | |
| 1,685,682 | | |
$ | 1.50 | | |
July 3, 2029 |
| Warrant to underwriters January 2024 | |
| 84,284 | | |
| 84,284 | | |
$ | 2.03 | | |
July 3, 2029 |
| Warrant series F June 2024 | |
| - | | |
| 3,133,338 | | |
$ | 1.50 | | |
June 3, 2026 |
| Warrant to underwriters June 2024 | |
| 28,102 | | |
| 78,333 | | |
$ | 1.88 | | |
June 3, 2026 |
| Warrant to underwriters January 2025 | |
| 71,750 | | |
| - | | |
$ | 2.19 | | |
January 7, 2027 |
| Warrant to underwriters January 2025 | |
| 189,428 | | |
| - | | |
$ | 2.84 | | |
January 10, 2027 |
| Warrant to underwriters January 2025 | |
| 30,526 | | |
| - | | |
$ | 1.88 | | |
July 8, 2030 |
| Warrant to underwriters February 2025 | |
| 109,478 | | |
| - | | |
$ | 2.66 | | |
June 10, 2027 |
| Warrant to underwriters September 2025 | |
| 10,362 | | |
| - | | |
$ | 1.88 | | |
March 16, 2028 |
| Warrant to underwriters September 2025 | |
| 31,429 | | |
| - | | |
$ | 2.12 | | |
March 16, 2028 |
| Warrant to underwriters September 2025 | |
| 138,906 | | |
| - | | |
$ | 2.62 | | |
March 16, 2028 |
| Warrant to underwriters September 2025 | |
| 422,535 | | |
| - | | |
$ | 2.66 | | |
March 16, 2028 |
| Warrant to underwriters September 2025 | |
| 30,000 | | |
| - | | |
$ | 2.62 | | |
March 29, 2028 |
| Warrant to underwriters September 2025 | |
| 53,758 | | |
| - | | |
$ | 1,88 | | |
March 16, 2031 |
| Warrant to underwriters September 2025 | |
| 146,306 | | |
| - | | |
$ | 1.88 | | |
September 16, 2027 |
| Warrant to underwriters September 2025 | |
| 368,572 | | |
| - | | |
$ | 2.12 | | |
September 16, 2027 |
| Warrant to underwriters September 2025 | |
| 143,723 | | |
| - | | |
$ | 2.63 | | |
September 16, 2027 |
| Warrant to underwriters September 2025 | |
| 187,794 | | |
| - | | |
$ | 2.66 | | |
September 16, 2027 |
| Warrant series J September 2025 | |
| 12,064,627 | | |
| - | | |
$ | 4.50 | | |
March 16, 2028 |
| Warrant series J September 2025 | |
| 600,000 | | |
| - | | |
$ | 4.50 | | |
March 29, 2028 |
| Warrant series J October 2025 | |
| 1,324,488 | | |
| - | | |
$ | 4.50 | | |
April 6, 2028 |
Warrant series J October 2025 | |
| 66,224 | | |
| - | | |
$ | 2.66 | | |
April 6, 2028 |
| | |
| 16,312,990 | | |
| 5,192,335 | | |
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