v3.26.1
Stockholders’ Equity (Deficit) (Tables)
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Summary of Various Classes of Equity

The following table summarizes the various classes of equity the Company is authorized to issue at December 31, 2025.

 

Stock  Authorized   Issued and Outstanding/   Par   Stated   Conversion  Voting      Liquidation   Redemption   Derivative 
Class  Shares   Designated   Value   Value   Ratio  Rights   Dividends  Preference   Rights   Liability 
                                       
Preferred Stock   5,000,000    None   $0.0001    N/A   None   None   None   None    None    No 
                                               
Series A, Preferred   513,000    280,000   $0.0001   $10/ share   4.53 common shares for each preferred share (fixed)   Equivalent to as converted shares   10% annually paid in common stock   None    None    No 
                                               
Series B, Preferred   150,000    140,000   $0.0001   $10/share   4.53 common shares for each preferred share (fixed)   Equivalent to as converted shares   12% annually paid in common stock   

None

    None    No 
                                               
Common   500,000,000    142,426,924   $0.0001    N/A   None   1 vote per share   N/A   N/A    N/A    N/A 
Schedule of Dividends Payable

The Company has calculated its dividends payable as follows:

 

   Series A - Convertible    Series B - Convertible   Total Dividends 
    Preferred Stock    Preferred Stock   Payable 
             
Shares issued and outstanding   280,000    140,000      
Stated value per share  $10   $10      
Dividend rate (10%/12%)   10%   12%     
                
Dividend shares due per year   280,000    168,000      
                
Market price - at issuance date   2.76    2.76      
Minimum price - 70%/80% discount to market price   80%   70%     
Conversion price   2.21    1.93      
                
Dividend shares due per quarter   28,000    21,739    49,739 
                
Equivalent common shares - per year   31,703    86,957    118,660 
                
Total dividend shares due - at reporting date   31,703    21,7392    53,442 
Market price - at issuance date (fixed rate)               
Market price - at issuance date (fixed rate)  $2.76   $2.76      
Fair value of dividends payable - at reporting date  $87,500   $60,000   $147,500 
Schedule of Company Nonvested Shares

A summary of the Company’s non-vested shares (due to service time-based restrictions) as of December 31, 2025 and December 31, 2024, is presented below:

 

       Weighted Average 
   Number of   Grant Date 
Non-Vested Shares  Shares   Fair Value 
Balance - December 31, 2023   114,336    6.40 
Granted   -    - 
Vested   (88,336)   5.15 
Cancelled/Forfeited   -    - 
Balance - December 31, 2024   26,000   $6.40 
Granted   1,833,333    2.39 
Vested   (500,000)   3.34 
Cancelled/Forfeited   (750,000)   2.47 
Balance - December 31, 2025   609,333   $2.26 
Schedule of Stock Option Activity

Stock option transactions for the year ended December 31, 2025 is summarized as follows:

 

   Options   Weighted Average Exercise Price   Weighted Average Remaining Contractual Life (in years) 
Outstanding December 31, 2024   -   $135.00    9.31 
Granted   4,307,000   $2.60    6.39 
Exercised   

-

    

-

    

-

 
Forfeited/Cancelled   

-

    

-

    

-

 
Outstanding December 31, 2025   4,307,000   $2.60    5.66 
Exercisable December 31, 2025   1,156,250   $2.60    4.27 
Schedule of Fair Value Assumptions

The fair value of the stock options granted in 2025 were determined using the Black-Scholes Option pricing model with the following assumptions:

 

Expected term (years)   10.00 
Expected volatility   119.91%
Expected dividends   0%
Risk free interest rate   4.34%
Schedule of Stock Warrant Activity

Warrant activity for the years ended December 31, 2025 and 2024 are summarized as follows:

 

           Weighted     
       Weighted   Average     
       Average   Remaining   Aggregate 
   Number of   Exercise   Contractual   Intrinsic 
Warrants  Warrants   Price   Term (Years)   Value 
Outstanding - December 31, 2024   46,344   $5.12    0.65   $9,156 
Vested and Exercisable - December 31, 2024   46,344   $5.12    0.65   $9,156 
Unvested and non-exercisable - December 31, 2024   -   $-    

-

   $- 
Granted   2,725,000   $4.89    2.29   $- 
Exercised   -    -    -   $- 
Cancelled/Forfeited   (35,449)  $4.96    -   $- 
Outstanding - December 31, 2025   2,735,895   $4.89    2.29   $-