v3.26.1
WARRANTS AND STOCK OPTIONS (Tables)
12 Months Ended
Dec. 31, 2025
Warrants And Stock Options  
SUMMARY OF WARRANT AND STOCK ACTIVITIES

Following is a summary of the warrant and stock options activities during the years ended December 31, 2025 and 2024: 

 

  

Number of

Warrants

and Options

  

Weighted

Average

Exercise Price

  

Weighted

Average

Grant Date

Fair Value

  

Weighted

Average

Remaining

Contractual

Term (in years)

 
Outstanding, December 31, 2023   3,029,830   $2.59         
Granted   3,158,333   $10.02   $5.64      
Exercised   (67,997)  $2.23           
Expired and forfeited   (535,873)  $6.34           
Outstanding, December 31, 2024   5,584,293   $6.43           
                     
Outstanding, December 31, 2024   5,584,293   $6.43           
Granted   4,824,250   $10.85   $3.47      
Exercised   (138,333)  $3.49           
Expired and forfeited   (517,593)  $8.74           
Outstanding, December 31, 2025   9,752,617   $8.54         4.22 
SCHEDULE OF FAIR VALUE OF WARRANTS AND OPTION

The fair value of the warrants and stock options was estimated using the Black-Scholes-Merton model using the following inputs:

 

   December 31, 2025   December 31, 2024 
Volatility   44.7% to 98.9%   69.3% to 77.4%
Dividends   0.00%   0.00%
Risk-free rate   0.4% to 4.6%    0.4% to 4.8 %
Expected Term (years)   3-5    3-5