v3.26.1
WARRANT LIABILITIES (Tables)
12 Months Ended
Dec. 31, 2025
WARRANT LIABILITIES  
Schedule of warrant liability

Units after

Units after

Units -

25:1

further 35:1

  ​ ​ ​

Original

  ​ ​ ​

Split

  ​ ​ ​

Split

  ​ ​ ​

FMV

Initial measurement-when issuing

 

2,722,224

 

108,889

 

3,112

$

1,064,287

Subsequent share price change

 

14,291,677

 

571,668

 

16,334

 

399,759

Exercise of September 2024 Series A Warrants - 2024

 

(1,038,889)

 

(41,556)

 

(1,188)

 

(89,396)

Loss on September 2024 Series A Warrant remeasurement at December 31, 2024

 

 

 

 

50,282

Balance at December 31, 2024

 

15,975,012

 

639,001

 

18,258

$

1,424,932

Exercise of September 2024 Series A Warrants - 2025

(1,500,000)

(60,000)

(1,715)

(126,180)

Re-measurement adjustment

(965,095)

FMV of September 2024 Series A Warrants at December 31, 2025

14,475,012

579,001

16,543

$

333,657

The remeasurement of the September 2024 Series A Warrants resulted in a gain of $965,095 for the year ended December 31, 2025, and a loss of $50,282 for the year ended December 31, 2024. Such gain or loss was recognized in the consolidated statements of operations and comprehensive income (loss).

Summary of September 2024 Series B Warrants

The September 2024 Series B Warrants were exercised in full in 2024.

Units after

Units after

Units -

25:1

further 35:1

Assessments

  ​ ​ ​

Original

  ​ ​ ​

Split

  ​ ​ ​

Split

  ​ ​ ​

FMV

Initial - when issuing

 

2,722,224

 

108,889

 

3,112

$

722,539

Subsequent share price change

 

5,835,330

 

233,413

 

6,669

$

43,232

Exercise of September 2024 Series B Warrants in full - 2024

 

(8,557,554)

 

(342,302)

 

(9,781)

$

(765,771)

Balance at December 31, 2024

 

 

 

$