| SCHEDULE OF WARRANTS ACTIVITY |
The
following table summarizes the activity in liability classified warrants for the year ended December 31, 2025:
SCHEDULE OF WARRANTS ACTIVITY
| | |
Common Stock Warrants | |
| | |
Shares | | |
Weighted– Average
Exercise
Price | | |
Range of Exercise
Price | | |
Weighted–
Average
Remaining
Life (Years) | |
| Total outstanding –December 31, 2024 | |
| 68,712 | | |
$ | 2.00 | | |
$ | 0.05 - $7.80 | | |
| 4.32 | * |
| Granted | |
| — | | |
| - | | |
| — | | |
| 4.16- | |
| Exercised | |
| — | | |
| — | | |
| — | | |
| — | |
| Reclassified from equity | |
| — | | |
| — | | |
| — | | |
| — | |
| Reclassified to equity | |
| — | | |
| — | | |
| — | | |
| 4— | |
| Expired | |
| (1,494 | ) | |
$ | 6.50 | | |
$ | 6.50 - $6.50 | | |
| — | |
| Total outstanding –December 31, 2025 | |
| 67,218 | | |
$ | 1.90 | | |
$ | 0.05 - $7.80 | | |
| 3.68 | * |
| | |
| 67,218 | | |
$ | 1.90 | | |
$ | 0.05 - $7.80 | | |
| 3.68 | * |
| * | | excludes 51,199
pre-funded warrants which have no expiration date. |
The
following table summarizes the activity in liability classified warrants for the year ended December 31, 2024:
| | |
Common Stock Warrants | |
| | |
Shares | | |
Weighted– Average
Exercise
Price | | |
Range of Exercise
Price | | |
Weighted–
Average
Remaining
Life (Years) | |
| Total outstanding –December 31, 2023 | |
| 9,113 | | |
$ | 36.50 | | |
$ | 36.50 - $36.50 | | |
| 0.49 | |
| Granted | |
| 52,474 | | |
$ | 8.54 | | |
$ | 6.50 - $13.00 | | |
| 4.16 | |
| Exercised | |
| — | | |
| — | | |
| — | | |
| — | |
| Reclassified from equity | |
| 71,026 | | |
$ | 2.14 | | |
$ | 0.05 - $7.80 | | |
| n/a | |
| Reclassified to equity | |
| (38,315 | ) | |
| 7 | | |
$ | 6.50 - $6.50 | | |
| 4 | |
| Expired | |
| (25,586 | ) | |
$ | 13.00 | | |
$ | 13.00 - $13.00 | | |
| — | |
| Total outstanding –December 31, 2024 | |
| 68,712 | | |
$ | 2.00 | | |
$ | 0.05 - $7.80 | | |
| n/a | |
| Exercisable | |
| 52,693 | | |
$ | 0.23 | | |
$ | 0.05 - $6.50 | | |
| n/a | |
|
| SCHEDULE OF FAIR VALUE OF HIERARCHY FOR WARRANT LIABILITIES |
The
following table presents the Company’s fair value hierarchy for its warrant liabilities measured at fair value on a recurring basis
as of December 31, 2025:
SCHEDULE OF FAIR VALUE OF HIERARCHY FOR WARRANT LIABILITIES
| | |
Quoted | | |
| | |
| | |
| |
| | |
Market | | |
Significant | | |
| | |
| |
| | |
Prices for | | |
Other | | |
Significant | | |
| |
| | |
Identical | | |
Observable | | |
Unobservable | | |
| |
| | |
Assets | | |
Inputs | | |
Inputs | | |
| |
| Common Stock Warrant Liabilities | |
(Level 1) | | |
(Level 2) | | |
(Level 3) | | |
Total | |
| Balance as of December 31, 2024 | |
$ | — | | |
$ | — | | |
$ | 269,175 | | |
$ | 269,175 | |
| Granted | |
| — | | |
| — | | |
| — | | |
| — | |
| Exercised | |
| — | | |
| — | | |
| — | | |
| — | |
| Fair value of warrants reclassified from equity | |
| | | |
| | | |
| | | |
| | |
| Fair value of warrants reclassified to equity | |
| | | |
| | | |
| | | |
| | |
| Loss on change in fair value of warrant liabilities | |
| — | | |
| — | | |
| (127,297 | ) | |
| (127,297 | ) |
| Balance as of December 31, 2025 | |
$ | — | | |
$ | — | | |
$ | 141,878 | | |
$ | 141,878 | |
The
following table presents the Company’s fair value hierarchy for its warrant liabilities measured at fair value on a recurring basis
as of December 31, 2024:
| | |
Quoted | | |
| | |
| | |
| |
| | |
Market | | |
Significant | | |
| | |
| |
| | |
Prices for | | |
Other | | |
Significant | | |
| |
| | |
Identical | | |
Observable | | |
Unobservable | | |
| |
| | |
Assets | | |
Inputs | | |
Inputs | | |
| |
| Common Stock Warrant liabilities | |
(Level 1) | | |
(Level 2) | | |
(Level 3) | | |
Total | |
| Balance as of December 31, 2023 | |
$ | — | | |
$ | — | | |
$ | 54,600 | | |
$ | 54,600 | |
| Common stock warrant liabilities, Beginning balance | |
$ | — | | |
$ | — | | |
$ | 54,600 | | |
$ | 54,600 | |
| Granted | |
| — | | |
| — | | |
| 565,582 | | |
| 565,582 | |
| Exercised | |
| — | | |
| — | | |
| — | | |
| — | |
| Fair value of warrants reclassified from equity | |
| — | | |
| — | | |
| 262,259 | | |
| 262,259 | |
| Fair value of warrants reclassified to equity | |
| — | | |
| — | | |
| (197,456 | ) | |
| (197,456 | ) |
| Gain on change in fair value of warrant liabilities | |
| — | | |
| — | | |
| (415,810 | ) | |
| (415,810 | ) |
| Balance as of December 31, 2024 | |
$ | — | | |
$ | — | | |
$ | 269,175 | | |
$ | 269,175 | |
| Common stock warrant liabilities, Ending balance | |
$ | — | | |
$ | — | | |
$ | 269,175 | | |
$ | 269,175 | |
|
| SCHEDULE OF ASSUMPTIONS OF WARRANT LIABILITIES |
The
following are the weighted average and the range of assumptions used in estimating the fair value of warrant liabilities (weighted average
calculated based on the number of outstanding warrants on each issuance) as of December 31, 2025 and 2024:
SCHEDULE OF ASSUMPTIONS OF WARRANT LIABILITIES
| | |
December 31, 2025 | | |
December 31, 2024 | |
| | |
Range | | |
Weighted Average | | |
Range | | |
Weighted Average | |
| Risk-free interest rate | |
| 3.64 | % | |
| 3.64 | % | |
| 4.24% - 4.38 | % | |
| 4.37 | % |
| Expected volatility (peer group) | |
| 130.0 | % | |
| 130.00 | % | |
| 117.5% - 133.50 | % | |
| 133.5 | % |
| Term of warrants (years) | |
| 3.68
| | |
| 3.68 | | |
| 0.4 - 4.7 | | |
| 4.20 | |
| Expected dividend yield | |
| 0.00 | % | |
| 0.00 | % | |
| 0.00 | % | |
| 0.00 | % |
|