v3.26.1
STOCKHOLDERS’ EQUITY (Tables)
 3 Months Ended
Mar. 31, 2026
Equity [Abstract]  
SCHEDULE OF COMMON STOCK

The Company issued the following common stock during the three months ended March 31, 2026, and 2025:

 

Transaction Type  Shares Issued   Valuation $  

Average Value

Per Share

 
2026 Equity Transactions               
Common stock issued, pursuant to services provided   1,460,641    3,097,885   $2.12 
Common stock issued pursuant to stock at the market offering, net   12,000,000    27,392,004    2.28 
Common stock issued pursuant to preferred dividends   5,526    8,044    1.46 
Common stock issued pursuant to conversion of notes and accrued interest   240,648    527,786    2.19 
Common stock issued pursuant to exercise of options and warrants   1,301,667    1,911,101    1.47 
Common stock issued pursuant to conversion of preferred stock   812,501    975,000    1.20 
                
2025 Equity Transactions               
Common stock issued, pursuant to services provided   1,117,964   $3,041,157   $1.16 – 1.87 
Common stock issued pursuant to stock at the market offering, net   223,756    450,428     2.0 – 2.08 
Common stock issued pursuant to conversion of preferred stock   250,000    500,000    2.00 
SCHEDULE OF PREFERRED STOCK ACTIVITY

The following is a summary of the Company’s Preferred Stock activity during the three months ended March 31, 2026 and 2025:

 

Transaction Type  Quantity   Carrying Value   Value per Share, gross 
Preferred Stock Series A-1 Balance at January 1, 2026   292,000   $7,124,167   $25 
Conversion to common stock   (39,000)   (975,000)   25 
Preferred Stock Series A-1 Balance at March 31, 2026   253,000   $6,149,167   $25 
                
Preferred Stock Series A-2 Balance at January 1, 2026   60,000   $1,500,000   $25 
Preferred Stock Series A-2 Balance at March 31, 2026   60,000   $1,500,000   $25 

 

Transaction Type  Quantity   Carrying Value   Value per Share, gross 
Preferred Stock Series A-1 Balance at January 1, 2025   240,000   $6,000,000   $25 
Issuance   40,000    1,000,000    25 
Conversion to common stock   (20,000)   (500,000)   25 
Preferred Stock Series A-1 Balance at March 31, 2025   260,000   $6,500,000   $25 
SCHEDULE OF STOCK OPTION ACTIVITY

The following is a summary of the Company’s stock option activity during the three-months ended March 31, 2026, and 2025:

 

Options  Shares  

Weighted

Average

Exercise Price

  

Weighted

Average

Remaining

Contractual

Life

(In Years)

  

Aggregate

Intrinsic

Value

 
Outstanding, January 1, 2026   31,838,322   $6.81    2   $7,382,321 
Exercised   35,000   $0.97    -   $- 
Granted   70,500    1.12    -    - 
Forfeited   (222,536)   (6.08)   -    - 
Outstanding, March 31, 2026   31,721,286   $6.80    1.91   $264,990 
                     
Exercisable, March 31, 2026   12,010,702   $4.26    2.50   $152,798 
                     
Outstanding, January 1, 2025   32,493,392   $7.31    -    - 
Granted   1,358,030    1.26    -    - 
Forfeited   (2,407,434)   9.75    -    - 
Outstanding, March 31, 2025   31,443,988   $6.86    2.33   $1,624,810 
                     
Exercisable, March 31, 2025   11,697,698   $4.31    2.05   $1,380,058 
SCHEDULE OF BLACK SCHOLES PRICING MODEL

The following table summarizes the range of the Black Scholes pricing model assumptions used by the Company during the three months ended March 31, 2026, and 2025:

 

   31-Mar-26   31-Mar-25 
   Range 
         
Exercise price and stock price  $1.12   $1.26 
Expected life (in years)   2.77    2.60- 3.47  
Volatility   86.84%   102.29%
Risk-free interest rate   3.81    3.50 - 4.62%
Dividend yield   -    - 
SCHEDULE OF NON-VESTED RESTRICTED STOCK

A summary of the Company’s non-vested restricted stock units during the three months ended March 31, 2026, and 2025 are as follows:

 

   Shares  

Weighted

Average Grant

Due Fair Value

 
Non-vested restricted stock units, January 1, 2026   4,988,817   $1.76 
Granted   863,039    - 
Vested   (1,779,465)   1.24 
Forfeited   (50,000)   - 
Non-vested restricted stock units, March  31, 2026   4,022,391   $1.59 
           
Non-vested restricted stock units, January 1, 2025   6,278,370   $2.65 
Granted   1,900,978    1.26 
Vested   (1,242,872)   2.13 
Forfeited   (586,297)   9.11 
Non-vested restricted stock units on March 31, 2025   6,350,179   $1.69 
SCHEDULE OF WARRANT ACTIVITY

The following is a summary of the Company’s warrant activity during the three months ended March 31, 2026, and 2025:

 

  

Number of

Warrants

  

Weighted Average

Exercise Price

 
Balance, January 1, 2026   1,588,417   $5.50 
Issued   -    - 
Exercised   (1,266,667)   4.19 
Forfeited   -    - 
Balance, March 31, 2026   321,750    8.87 
           
Balance, January 1, 2025   1,523,667   $4.30 
Issued   -    - 
Exercised   -    - 
Forfeited   -    - 
Balance, March 31, 2025   1,523,667   $4.30