STOCKHOLDERS’ EQUITY (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
| Equity [Abstract] |
|
| SCHEDULE OF SHARE CAPITAL |
The
Company had the following common share transactions during the year ended December 31, 2025:
SCHEDULE OF SHARE CAPITAL
| | |
No. of shares | | |
Amount | |
| Shares issued for conversion of convertible debt | |
| 2,784,169 | | |
$ | 16,186,143 | |
| Shares issued for cash at the market, net of issuance costs | |
| 494,390 | | |
| 1,447,737 | |
| Shares issued in the offering, net of issuance costs | |
| 87,699,328 | | |
| 198,449,318 | |
| Shares issued for compensation, vested | |
| 804,445 | | |
| 1,795,671 | |
| Shares issued for consulting services, vested | |
| 935,641 | | |
| 228,969 | |
| Shares issued on exercise of warrants | |
| 231,920 | | |
| 403,061 | |
| Repurchases of shares | |
| (183,346 | ) | |
| (257,964 | ) |
| Total common shares issued | |
| 92,766,547 | | |
$ | 218,252,935 | |
The
Company had the following common share transactions during the year ended December 31, 2024:
| | |
No. of shares | | |
Amount | |
| Shares issued for conversion of convertible debt | |
| 99,443 | | |
$ | 11,469,407 | |
| Shares issued for cash | |
| 59,651 | | |
| 2,775,616 | |
| Shares issued for compensation | |
| 950 | | |
| 115,639 | |
| Shares issued for consulting services | |
| 158 | | |
| 27,624 | |
| Shares issued for business combination | |
| 5,556 | | |
| 295,000 | |
| Shares issued on conversion of vested pre-funded warrants | |
| 7 | | |
| 530,429 | |
| Total common shares issued | |
| 165,765 | | |
$ | 15,213,715 | |
|
| SCHEDULE OF OUTSTANDING WARRANTS |
The
Company’s outstanding warrants as of December 31, 2025, were:
SCHEDULE OF OUTSTANDING WARRANTS
| | |
No. of warrants | | |
Weighted average
exercise price |
| |
Expiration Date |
| | |
| | |
$ |
| |
|
| Outstanding, December 31, 2023 | |
| 3,197 | | |
| 2,314.07 |
| |
|
| Granted February 21, 2024 | |
| 3,712 | | |
| 10.00 |
(a), (b) | |
August 21, 2027 |
| Granted April 11, 2024 | |
| 2,437 | | |
| 10.00 |
(a), (b) | |
October 11, 2027 |
| Granted May 22, 2024 | |
| 6,016 | | |
| 11.00 |
(a), (b) | |
November 22, 2027 |
| Expired July 16, 2024 | |
| (72 | ) | |
| 30,000.00 |
| |
|
| Outstanding, December 31, 2024 | |
| 15,291 | | |
| 351.57 |
| |
|
| Granted January 16, 2025 | |
| 212,256 | | |
| 25.94 |
| |
July 16, 2028 |
| Granted March 21, 2025 | |
| 47,906 | | |
| 17.91 |
| |
September 21, 2028 |
| Granted May 21, 2025 | |
| 4,889 | | |
| 17.91 |
| |
November 21, 2028 |
| Granted July 21, 2025 | |
| 80,354 | | |
| 6.74 |
| |
January 21, 2029 |
| Granted September 25, 2025 | |
| 148,340 | | |
| 2.65 |
| |
September 25, 2029 |
| Granted October 24, 2025 | |
| 2,076,763 | | |
| 2.41 |
| |
April 24, 2029 |
| Exercised | |
| (260,797 | ) | |
| 2.36 |
| |
|
| Expired | |
| (170 | ) | |
| 115,372.69 |
| |
|
| Outstanding, December 31, 2025 | |
| 2,324,832 | | |
| 2.36 |
| |
|
| |
(a) |
The
issuance of the Seventh Tranche Debenture on May 22, 2024 triggered the down-round provision, adjusting the exercise prices of the
Debenture Warrants to $10.00 (Note 10). |
| |
|
|
| |
(b) |
On
January 16, 2025, institutional investors purchased $7,700,000 of convertible debt and warrants were issued with an exercise price
of $2.62 per share. The issuance of the additional tranche triggered the round down provision, adjusting the exercise price of the
First, Second, Third, Fourth, Fifth, Sixth, and Seventh Tranche Debentures and First, Second, Third, Fourth, Fifth, Sixth, and Seventh
Tranche Warrants to $2.62. |
|
| SCHEDULE OF BASIC AND DILUTED NET LOSS PER SHARE |
The
following table sets forth the computation of basic and diluted net loss per share:
SCHEDULE
OF BASIC AND DILUTED NET LOSS PER SHARE
| | |
December 31, 2025 | | |
December 31, 2024 | |
| Basic net loss per share: | |
| | | |
| | |
| Numerator | |
| | | |
| | |
| Net loss from continuing operations | |
$ | (31,994,535 | ) | |
$ | (15,871,753 | ) |
| Net loss from discontinued operations | |
$ | (1,200,671 | ) | |
$ | (403,062 | ) |
| Net loss | |
$ | (33,195,206 | ) | |
$ | (16,274,815 | ) |
| Denominator | |
| | | |
| | |
| Basic weighted-average common shares outstanding | |
| 16,390,876 | | |
| 79,292 | |
| Basic net loss per share for continuing operations | |
$ | (1.95 | ) | |
$ | (200.17 | ) |
| Basic net loss per share for discontinued operations | |
$ | (0.07 | ) | |
$ | (5.08 | ) |
| Basic net loss per share, total | |
$ | (2.03 | ) | |
$ | (205.25 | ) |
| | |
| | | |
| | |
| Diluted net loss per share: | |
| | | |
| | |
| Numerator | |
| | | |
| | |
| Net loss from continuing operations | |
$ | (31,994,535 | ) | |
$ | (15,871,753 | ) |
| Net loss from discontinued operations | |
$ | (1,200,671 | ) | |
$ | (403,062 | ) |
| Net loss | |
$ | (33,195,206 | ) | |
$ | (16,274,815 | ) |
| Change in fair value of convertible debenture warrants | |
$ | (2,560,523 | ) | |
$ | (1,890,135 | ) |
| Diluted net loss | |
$ | (35,755,729 | ) | |
$ | (18,164,950 | ) |
| Denominator | |
| | | |
| | |
| Number of shares used in basic net loss per share computation | |
| 16,390,876 | | |
| 79,292 | |
| Weighted-average effect of potentially dilutive securities: | |
| | | |
| | |
| Convertible warrants | |
| 255,649 | | |
| 11,757 | |
| Diluted weighted-average common shares outstanding | |
| 16,646,525 | | |
| 91,049 | |
| Diluted net loss per share for continuing operations | |
$ | (2.08 | ) | |
$ | (195.08 | ) |
| Diluted net loss per share for discontinued operations | |
$ | (0.07 | ) | |
$ | (4.43 | ) |
| Diluted net loss per share, total | |
$ | (2.15 | ) | |
$ | (199.51 | ) |
|
| SCHEDULE OF ANTI-DILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE |
Potentially
dilutive securities that are not included in the calculation of diluted net loss per share because their effect is anti-dilutive are
as follows (in common equivalent shares):
SCHEDULE
OF ANTI-DILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE
| | |
December 31, 2025 | | |
December 31, 2024 | |
| Warrants | |
| 2,324,832 | | |
| 15,291 | |
| Options | |
| - | | |
| 61 | |
| Convertible debentures | |
| 3,909,958 | | |
| 650,726 | |
| Total anti-dilutive weighted average shares | |
| 6,234,790 | | |
| 666,078 | |
|