Shareholders’ Equity (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
| Equity [Abstract] |
|
| Schedule of Stock Option Activity |
A
summary of our stock option activity for the years ended December 31, 2025 and 2024 is as follows:
Schedule
of Stock Option Activity
| | |
Outstanding Options | |
| | |
2025 | | |
2024 | |
| | |
Number of Shares | | |
Weighted Average Exercise Price (Per Share) | | |
Number of Shares | | |
Weighted Average Exercise Price (Per Share) | |
| Opening | |
| 8,647,984 | | |
$ | 0.26 | | |
| 11,407,772 | | |
$ | 0.26 | |
| Granted | |
| 8,995,000 | | |
| 0.24 | | |
| 1,200,000 | | |
| 0.25 | |
| Exercised | |
| - | | |
| - | | |
| (136,250 | ) | |
| 0.27 | |
| Cancelled | |
| (1,929,741 | ) | |
| 0.24 | | |
| - | | |
| - | |
| Forfeited / Expired | |
| (340,000 | ) | |
| 0.23 | | |
| (3,823,538 | ) | |
| 0.25 | |
| Closing | |
| 15,373,243 | | |
$ | 0.25 | | |
| 8,647,984 | | |
$ | 0.26 | |
| Exercisable | |
| 5,426,951 | | |
$ | 0.27 | | |
| 5,963,812 | | |
$ | 0.27 | |
|
| Schedule of Stock Options Outstanding And Exercisable |
The
following table summarizes information about stock options outstanding and exercisable under our stock incentive plans as of December
31, 2025:
Schedule of Stock Options Outstanding And Exercisable
| Exercise Price | |
Number Outstanding | | |
Weighted Average Remaining Contractual Life (Years) | | |
Weighted Average Exercise Price Per Share | | |
Number Exercisable | | |
Weighted Average Remaining Contractual Life (Years) | | |
Weighted Average Exercise Price Per Share | |
| $0.165 to $0.25 | |
| 8,260,379 | | |
| 8.53 | | |
| 0.19 | | |
| 2,327,004 | | |
| 6.74 | | |
| 0.21 | |
| $0.251 to $0.40 | |
| 6,486,290 | | |
| 8.31 | | |
| 0.29 | | |
| 2,486,290 | | |
| 7.04 | | |
| 0.27 | |
| $0.401 to $0.55 | |
| 437,500 | | |
| 5.29 | | |
| 0.49 | | |
| 425,520 | | |
| 5.26 | | |
| 0.49 | |
| $0.551 to $0.70 | |
| 189,074 | | |
| 5.69 | | |
| 0.62 | | |
| 188,137 | | |
| 5.69 | | |
| 0.62 | |
| | |
| 15,373,243 | | |
| 8.31 | | |
| 0.25 | | |
| 5,426,951 | | |
| 6.73 | | |
| 0.27 | |
|
| Schedule of Restricted Stock Units Activity |
A
summary of our 2025 and 2024 restricted stock units activity is as follows:
Schedule of Restricted Stock Units Activity
| | |
2025 | | |
2024 | |
| | |
Number of Units | | |
Weighted-Average
Grant Date Fair
Value per share | | |
Weighted-Average
Contractual
Life (years) | | |
Number of Units | | |
Weighted-Average
Grant Date Fair
Value per share | | |
Weighted-Average
Contractual
Life (years) | |
| Opening, Unvested Restricted Stock Units | |
| - | | |
$ | - | | |
| - | | |
| 600,000 | | |
$ | 0.26 | | |
| 9.1 | |
| Granted | |
| 2,213,765 | | |
| 0.18 | | |
| | | |
| 2,797,959 | | |
| 0.14 | | |
| | |
| Vested | |
| (2,213,765 | ) | |
| (0.18 | ) | |
| | | |
| (3,397,959 | ) | |
| (0.16 | ) | |
| | |
| Closing, Unvested Restricted Stock Units | |
| - | | |
$ | - | | |
| - | | |
| - | | |
$ | - | | |
| - | |
|
| Schedule of Stock-based Compensation Expense |
The
following table summarizes the stock-based compensation expense (in thousands):
Schedule
of Stock-based Compensation Expense
| | |
2025 | | |
2024 | |
| Stock options | |
$ | 547 | | |
$ | 537 | |
| Restricted stock | |
| 400 | | |
| 541 | |
| Allocated Stock-based compensation | |
$ | 947 | | |
$ | 1,078 | |
| Consolidated Statements of Operations account: | |
| | | |
| | |
| Selling and marketing | |
$ | 152 | | |
$ | - | |
| General and administrative | |
| 795 | | |
| 1,078 | |
| Stock-based compensation
expense | |
$ | 947 | | |
$ | 1,078 | |
|
| Schedule of Weighted-average Assumptions in Fair Value of Stock Options |
Schedule of Weighted-average Assumptions in Fair Value of Stock Options
| | |
2025 | | |
2024 | |
| Expected dividend yield | |
| - | | |
| - | |
| Expected stock price volatility | |
| 74.98% to 80.30% | | |
| 85.90% to 89.60% | |
| Risk-free interest rate | |
| 4.1% to 4.6% | | |
| 4.20% to 4.30% | |
| Expected term (in years) | |
| 10 | | |
| 5.80 to 6.50 | |
| Weighted-average grant date fair-value | |
$ | 0.15 to 0.22 | | |
$ | 0.17 to 0.20 | |
|
| Schedule of Warrants Outstanding |
The
following table presents a summary of the Company’s outstanding warrants as of December 31, 2025:
Schedule
of Warrants Outstanding
| Expiry Date | |
Number Outstanding | | |
Remaining Contractual Life (Years) | | |
Exercise Price Per Share (in dollar) | | |
Number Exercisable | |
| July 26, 2026 | |
| 3,767,500 | | |
| 0.57 | | |
$ | 0.50 | | |
| 3,767,500 | |
| July 31, 2026 | |
| 800,000 | | |
| 0.58 | | |
| 0.50 | | |
| 800,000 | |
| August 21, 2026 | |
| 1,377,900 | | |
| 0.64 | | |
| 0.50 | | |
| 1,377,900 | |
| May 30, 2028 | |
| 750,000 | | |
| 2.41 | | |
| 0.45 | | |
| 750,000 | |
| August 5, 2028 | |
| 250,000 | | |
| 2.60 | | |
| 0.45 | | |
| 250,000 | |
| | |
| 6,945,400 | | |
| | | |
| | | |
| 6,945,400 | |
|