v3.26.1
STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2024
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]  
SCHEDULE OF STOCK OPTIONS, VALUATION ASSUMPTIONS

 

   Years Ended December 31, 
   2024   2023 
Value of one common share  $6.7   $13.6 
Dividend yield   0%   0%
Expected stock price volatility   87%   80%
Risk free interest rate   3.71%-3.76%   4.07%
Expected term (years)   10    10 
SCHEDULE OF STOCK OPTIONS ACTIVITY GRANTED TO EMPLOYEES

A summary of the Company’s RSUs granted to employees as of December 31, 2024 is presented below:

 

 SCHEDULE OF STOCK OPTIONS ACTIVITY GRANTED TO EMPLOYEES

   Years Ended December 31   Years Ended December 31 
   2024   2023 
  

Number of

RSUs

  

Number of

RSUs

 
Options outstanding at the beginning of the period   14,200    - 
Changes during the period:          
Granted   8,250    14,200 
Exercised   (12,410)   - 
Forfeited   (1,306)   - 
Options outstanding at end of the period   8,734    14,200 
SCHEDULE OF SHARES AND WARRANTS GRANTS TO ADVISORS

Below is a table summarizing the shares and warrants grants to advisers during the period from January 1, 2024 to December 31, 2024:

  

Date of issue of

share or warrant

  Reason for issue of share or warrant  Consideration  Exercise price of warrants  

Warrant vesting

(subject to continued service

provided to Company)

  Warrant expiry date
March 7, 2024  Strategic advisor agreement  50,000 shares of Common Stock and warrants to purchase 50,000 shares of Common Stock  $10.3   One third on March 7, 2024, one third on June 5, 2024, and one third on September 3, 2024.  March 6, 2029
April 18, 2024  Strategic advisor agreement  Warrants to purchase 50,000 shares of Common Stock  $10.3   One third on April 18, 2024, one third on July 18, 2024, and one third on October 18, 2024.  April 17, 2029
April 23, 2024  Strategic advisor agreement  Warrants to purchase 50,000 shares of Common Stock  $10.3   One third on April 16, 2024, one third on July 16, 2024, and one third on October 16, 2024.  April 22, 2029
May 22, 2024  Strategic advisor agreement  Warrants to purchase 47,500 shares of Common Stock  $10.3   One third on May 21, 2024, one third on August 21, 2024, and one third on November 21, 2024.  May 21, 2029
July 14, 2024  Strategic advisor agreement  Warrants to purchase 20,000 shares of Common Stock  $10.3   One third on July 14, 2024, one third on October 14, 2024, and one third on January 14, 2024.  July 13, 2029
September 5, 2024  Strategic advisor agreement  50,000 shares of Common  $10.3       

 

 

  

No. of

Warrants

Granted

   Vesting Period 

Fair Value at Grant

(in thousands)

 
Warrants   217,500   Over a period of nine months  $646 
Shares   50,000   N/A  $350 
SCHEDULE OF WARRANTS GRANTS ASSUMPTIONS

The fair valuation of these warrants grants is based on the following assumptions:

 

  

For the period ended

December 31, 2024

 
Value of one common share  $5.1-$8.4 
Dividend yield   0%
Expected stock price volatility   87%-91%
Risk free interest rate   4.07%-4.68%
Expected term (years)   5 
Restricted Stock Units (RSUs) [Member]  
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]  
SCHEDULE OF STOCK OPTIONS EXERCISABLE

The following table presents summary information concerning the options granted and exercisable to employees and directors outstanding as of December 31, 2024 (in thousands, except per share data):

 

year 

Number of

Outstanding

RSUs

  

Weighted Average

Remaining

Contractual

Life

  

Aggregate

Intrinsic

Value

$

 
             (in thousands) 
2024   2,434    9.56    5 
2023   6,300    8.99    12 
SCHEDULE OF STOCK OPTIONS GRANTED TO EMPLOYEES

Below is a table summarizing all the RSUs grants to employees and made during the years ended December 31, 2024:

 

SCHEDULE OF STOCK OPTIONS GRANTED TO EMPLOYEES

   Year Ended  No. of options
granted		   Vesting period 

Fair value at grant

(in thousands)

 
Employees  December 31, 2024   8,250   Quarterly over a period of two years  $44 
Employees  December 31, 2023   14,200   Quarterly over a period of two years  $50 
Options Granted To Employees [Member]  
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]  
SCHEDULE OF EMPLOYEE STOCK OWNERSHIP PLAN DISCLOSURES

Below is a table summarizing all of the options grants to employees and Directors made during the years ended December 31, 2024, and December 31, 2023:

 

   Year Ended  No. of options
granted		   Exercise price   Vesting period 

Fair value at grant

(in thousands)

   Expiration
period
Employees  December 31, 2024   61,100   $5-$6.4    67% vested quarterly over a period of two years, with the remaining amount vested quarterly over four years.  $260   10 years
                         
Directors  December 31, 2024   76,522   $0.98-$10.3    4% annually over a period of three years, 84% vests immediately, and 12% vests on the one-year anniversary.  $412   10 years
                         
Employees  December 31, 2023   31,800   $4.5-$13.6   51% Quarterly over a period of two years and the rest quarterly over a period of four years   148   10 years
                         
Directors  December 31,2023   8,465   $4.5   On the one-year anniversary  $26   10 years

 
SCHEDULE OF STOCK OPTIONS, VALUATION ASSUMPTIONS

  

   Years Ended December 31, 
   2024   2023 
Value of one common share  $0.98-$10.3   $4.5-$13.6 
Dividend yield   0%   0%
Expected stock price volatility   79%-110%   70%-80%
Risk free interest rate   3.86%-4.49%   3.9%-4.28%
Expected term (years)   2.5-6.06    5.5-6.06 
SCHEDULE OF STOCK OPTIONS ACTIVITY

A summary of the Company’s stock options granted to employees and directors as of December 31, 2024 and December 31, 2023 is presented below:

  

   Years Ended December 31 
   2024   2023 
  

Number of

Options

  

Weighted

Average

Exercise Price

$

  

Number of

Options

  

Weighted

Average

Exercise

Price

$

 
Options outstanding at the beginning of the period   302,727    38.9    303,527    41.7 
Changes during the period:                    
Granted   137,622    6.75    40,265    6.4 
Exercised*   (25,519)   0.50    -    - 
Expired   (29,059)   36.72    (17,884)   49.2 
Forfeited   (14,732)   9.58    (23,181)   10.4 
Options outstanding at end of the period   371,039    30.97    302,727    38.9 
Options exercisable at end of the period   321,651    35.00    274,038    41.8 
SCHEDULE OF STOCK OPTIONS EXERCISABLE

The following table presents summary information concerning the options granted and exercisable to employees and directors outstanding as of December 31, 2024 (in thousands, except per share data):

  

Exercise

Price

$

  

Number of

Outstanding

Options

  

Weighted Average

Remaining

Contractual

Life

  

Aggregate

Intrinsic

Value

$

  

Number of

Exercisable

Options

  

Aggregate

Exercisable

Options

Value $

 
            (in thousands)       (in thousands) 
 0.98    7,585    9.95    7    -    - 
 4.5    9,161    8.91    -    6,161    28 
 5    17,500    8.01    -    8,750    44 
 6.3    21,250    9.52    -    3,750    24 
 6.4    50,684    9.42    -    37,522    240 
 6.5    625    9.52    -    -    - 
 10.3    32,281    9.56    -    32,281    332 
 13.6    2,434    7.11    -    1,922    26 
 18.6    8,465    3.22    -    8,465    157 
 20    27,653    6.16    -    29,400    588 
 20.1    4,700    4.25    -    4,700    94 
 28.9    8,465    2.85    -    8,465    245 
 29.6    2,800    6.08    -    2,800    83 
 29.9    34,945    4.07    -    34,945    1,045 
 31.4    250    4.90    -    250    8 
 45    2,000    4.37    -    2,000    90 
 46    13,080    4.01    -    13,080    602 
 47    625    0.49    -    625    29 
 48    46,662    1.45    -    46,662    2,240 
 50.2    2,100    3.41    -    2,100    105 
 50.7    4,950    2.45    -    4,950    251 
 51    2,087    5.17    -    2,087    106 
 51.2    7,550    5.11    -    7,550    387 
 59.9    27,155    3.02    -    27,154    1,626 
 68.4    1,200    5.38    -    1,200    82 
 72    8,333    2.43    -    8,333    600 
 83.6    24,999    3.49    -    24,999    2,090 
 89.1    1,500    3.46    -    1,500    134 
      371,039    5.69    7    321,651    11,256 
Options Granted To Non Employees [Member]  
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]  
SCHEDULE OF STOCK OPTIONS ACTIVITY

A summary of the Company’s stock options granted to consultants and service providers as of December 31, 2024, and December 31, 2023 is presented below:

 

   Years Ended December 31, 
   2024   2023 
  

Number of

Options

  

Weighted

Average

Exercise

Price

$

  

Number of

Options

  

Weighted

Average

Exercise

Price

$

 
Options outstanding at the beginning of the year   26,703    50.7    51,714    48.8 
Changes during the year:                    
Granted   1,500    6.7    833    13.6 
Expired   -    -    (2,333)   60.4 
Forfeited   -    -    (23,511)   44.2 
Cancelled   (1,500)   53.00    -    - 
Options outstanding at end of the year   26,703    48.13    26,703    50.7 
Options exercisable at end of the year   22,104    51.70    20,606    57.1 
SCHEDULE OF STOCK OPTIONS EXERCISABLE

The following table presents summary information concerning the options granted and exercisable to consultants and service providers outstanding as of December 31, 2024 (in thousands, except per share data):

 

Exercise

Price

$

  

Number of

Outstanding

Options

  

Weighted Average

Remaining

Contractual

Life

  

Aggregate

Intrinsic

Value

$

  

Number of

Exercisable

Options

  

Aggregate

Exercisable

Options

Value $

 
            (in thousands)       (in thousands) 
 6.7    1,500    9.68    -    1,000    7 
 13.6    833    8.44    -    -    - 
 20    2,833    7.46    -    2,000    40 
 29.6    750    6.96    -    750    22 
 29.9    2,000    5.22    -    2,000    60 
 40.9    2,500    4.75    -    2,500    102 
 44.2    512    2.93    -    512    23 
 45    1,333    4.53    -    500    23 
 46    2,000    5.96    -    400    18 
 48    833    1.94    -    833    40 
 50.7    500    4.19    -    500    25 
 59.9    1,666    3.81    -    1,666    100 
 68.4    750    5.38    -    750    51 
 70    7,000    4.83    -    7,000    490 
 83.4    860    3.52    -    860    72 
 84.3    833    3.04    -    833    70 
      26,703    5.36    -    22,104    1,143 
SCHEDULE OF STOCK OPTIONS GRANTED TO EMPLOYEES

Below is a table summarizing all the compensation granted to consultants and service providers during the years ended December 31, 2024 and December 31, 2023:

 

   Year of grant  No. of options
granted		   Exercise price   Vesting period 

Fair value at grant (in thousands)

   Expiration
period
Non-employees  2024   1,500   $6.7-$6.7   Quarterly over a period of two years  $9   10 years
Non-employees  2023   833   $13.6   Annually over a period of five years  $9   10 years