| Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions |
The following key assumptions were used to estimate the fair value, presented on a weighted average basis: | | | | | | | March 31, 2026 | Expected volatility | 90 | % | Expected term (years) | 5.91 | Risk free interest rate | 3.77 | % | Expected dividend yield | $ | — | |
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The following key assumptions were used to estimate the fair value, presented on a weighted average basis: | | | | | | | December 31, 2025 | | Expected volatility | 90 | % | | Expected term (years) | 5.91 | | Risk free interest rate | 3.77 | % | | Expected dividend yield | $ | — | |
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| Share-Based Payment Arrangement, Option, Activity |
Total option activity for the three months ended March 31, 2026 is summarized as follows: | | | | | | | | | | | | | | | | | | | Number of Stock Options | | Weighted Average Exercise Price | | Weighted Average Remaining Contractual Term (in years) | Outstanding as of December 31, 2025 | 1,461,162 | | | $ | 9.32 | | | 9.8 | Granted | 14,000 | | | $ | 9.32 | | | 10.0 | Forfeited | (79,476) | | | $ | — | | | — | Outstanding as of March 31, 2026 | 1,395,686 | | | 9.32 | | 9.6 | Stock options exercisable as of March 31, 2026 | 531,465 | | $ | 9.32 | | | 9.6 | Stock options vested and expected to vest at March 31, 2026 | 1,395,686 | | $ | 9.32 | | | 9.6 |
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Total option activity for the year-ended December 31, 2025 is summarized as follows: | | | | | | | | | | | | | | | | | | | Number of Stock Options | | Weighted Average Exercise Price | | Weighted Average Remaining Contractual Term (in years) | | Outstanding as of December 31, 2024 | — | | | $ | — | | | — | | | Granted | 1,467,222 | | | 9.32 | | | 10.0 | | Forfeited | (6,060) | | | — | | | — | | | Outstanding as of December 31, 2025 | 1,461,162 | | | 9.32 | | | 9.8 | | Stock options exercisable as of December 31, 2025 | 458,636 | | | 9.32 | | | 9.8 | | Stock options vested and expected to vest at December 31, 2025 | 1,461,162 | | | 9.32 | | | 9.8 |
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