Stock Warrants

3 Months Ended

Mar. 31, 2026

9. Stock Warrants

The Company’s warrant activity during the three months ended March 31, 2026 is as follows:

Schedule of Warrant Activity

	Shares		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Terms (Years)		Aggregate Intrinsic Value

Outstanding at December 31, 2025		2,963,215	$	5.77		4.82	$	-
Granted		-		-		-
Exercised		-		-		-
Forfeited		-		-		-
Outstanding at March 31, 2026		2,963,215	$	5.77		4.57	$	-
Exercisable at March 31, 2026		2,963,215	$	5.77		4.57	$	-

As of March 31, 2026, the outstanding and exercisable warrants have no aggregate intrinsic value. The aggregate intrinsic value was calculated as the difference between the closing market price as of March 31, 2026, which was $3.63, and the exercise price of the Company’s warrants to purchase common stock.