v3.26.1
STOCK WARRANTS
 12 Months Ended
Dec. 31, 2025
Stock Warrants  
STOCK WARRANTS

12. STOCK WARRANTS

 

A summary of warrant activity for the years ended December 31, 2025 and 2024 is presented below:

 

           Weighted-     
       Weighted-   Average     
       Average   Remaining   Aggregate 
       Exercise   Contractual   Intrinsic 
   Warrants   Price   Life (Years)   Value 
                 
Outstanding at January 1, 2024   4,598    6,752.00    3.10   $- 
Granted   -    -    -    - 
Forfeited   (1,053)   24,098.44    -    - 
Exercised   -    -    -    - 
Outstanding at December 31, 2024   3,545    1,769.64    2.92    - 
Granted   1,677,996    0.0001    -    33,157 
Forfeited   (149)   1,600.00    -    - 
Exercised   -    -    -    - 
Outstanding at December 31, 2025, all vested   1,681,392   $3.23    N/A   $3,339 

 

As of December 31, 2025, the intrinsic value of the outstanding warrants was $3,339.

 

As discussed in Note 9, in connection with the PIPE offering, pre-funded warrants were granted to purchase up to an aggregate of 1,677,996 shares of Common Stock at a purchase price per warrant of $9.5099. Each of the pre-funded warrants is exercisable for one share of Common Stock at the exercise price of $0.0001 per pre-funded warrant share, immediately exercisable, and may be exercised at any time until all of the pre-funded warrants issued in the PIPE are exercised in full. There is no expiration date or contractual life associated with the pre-funded warrants and therefore, the weighted-average remaining contractual life cannot be calculated.