v3.26.1
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:

 

   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:

 

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:

 

   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):

 

   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

  

   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:

 

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