v3.26.1
WARRANT LIABILITIES (Tables)
3 Months Ended
Mar. 31, 2026
Warrant Liabilities  
SCHEDULE OF WARRANTS ACTIVITY

The following table summarizes the activity in liability classified warrants for the three months ended March 31, 2026:

 

    Common Stock Warrants  
    Shares    Weighted– Average
Exercise
Price
    Range of
Exercise
Price
    Weighted–
Average
Remaining
Life (Years)
 
Total outstanding –December 31, 2025   67,218   $1.90     $0.05 - $7.80     3.68*
Granted                
Exercised                
Reclassified from equity                
Reclassified to equity                
Expired                
Total outstanding –March 31, 2026   67,218   $1.90    $0.05 - $7.80    3.44*
    67,218   $1.90    $0.05 - $7.80    3.44*

 

*   excludes 51,199 pre-funded warrants which have no expiration date.

 

 

The following table summarizes the activity in liability classified warrants for the three months ended March 31, 2025:

 

    Common Stock Warrants  
    Shares    Weighted– Average
Exercise
Price
    Range of
Exercise
Price
    Weighted–
Average
Remaining
Life (Years)
 
Total outstanding –December 31, 2024   68,712   $2.00     $0.05 - $7.80     4.32*
Granted                
Exercised                
Expired                
Total outstanding –March 31, 2025   68,712   $2.00     $0.05 - $7.80     4.07

*

Exercisable   68,712   $2.00     $0.05 - $7.80     4.07

*

 

*   excludes 51,199 pre-funded warrants which have no expiration date.

SCHEDULE OF FAIR VALUE OF HIERARCHY FOR WARRANT LIABILITIES

The following table presents the Company’s fair value hierarchy for its warrant liabilities measured at fair value on a recurring basis as of March 31, 2026:

 

   Quoted             
   Market   Significant         
   Prices for   Other   Significant     
   Identical   Observable   Unobservable     
   Assets   Inputs   Inputs     
Common Stock Warrant Liabilities  (Level 1)   (Level 2)   (Level 3)   Total 
Balance as of December 31, 2025  $   $   $141,878   $141,878 
Granted                
Exercised                
Loss on change in fair value of warrant liabilities           (69,660)   (69,660)
Balance as of March 31, 2026  $   $   $72,218   $72,218 

 

 

The following table presents the Company’s fair value hierarchy for its warrant liabilities measured at fair value on a recurring basis as of December 31, 2025:

 

   Quoted             
   Market   Significant         
   Prices for   Other   Significant     
   Identical   Observable   Unobservable     
   Assets   Inputs   Inputs     
Common Stock Warrant liabilities  (Level 1)   (Level 2)   (Level 3)   Total 
Balance as of December 31, 2024  $   $   $269,175   $269,175 
Granted                
Exercised                
Loss on change in fair value of warrant liabilities           (127,297)   (127,297)
Balance as of December 31, 2025  $   $   $141,878   $141,878 
SCHEDULE OF ASSUMPTIONS OF WARRANT LIABILITIES

The following are the weighted average and the range of assumptions used in estimating the fair value of warrant liabilities (weighted average calculated based on the number of outstanding warrants on each issuance) as of March 31, 2026 and 2025:

 

   March 31, 2026   March 31, 2025 
   Range   Weighted Average   Range   Weighted Average 
Risk-free interest rate   3.87%   3.64%   3.96% - 4.35%   4.0%
Expected volatility (peer group)   130.0%   130.00%   117.5% -133.5%   113.0%
Term of warrants (years)   3.44    3.68    0.14 - 4.44     4.32 
Expected dividend yield   0.00%   0.00%   0.00%   0.00%