v3.26.1
Equity (Tables)
3 Months Ended
Mar. 31, 2026
Equity [Abstract]  
Schedule of Fair Value of Warrants Estimated Using Black-Scholes Model

 

   Period Ended 
   March 31, 2026 
Fair value of common stock on measurement date  $0.12 per share 
Risk free interest rate (1)   4.08%
Volatility (2)   302.35%
Dividend yield (3)   0%
Expected term (in years)   5.00 years 

 

(1) The risk-free interest rate was determined by management using the market yield on U.S. Treasury securities with comparable terms as of the measurement date.
(2) The trading volatility was determined by calculating the volatility of the Company’s peer group.
(3) The Company does not expect to pay a dividend in the foreseeable future.
Schedule of Warrant Outstanding

The following table summarizes the stock warrant activity for the three months ended March 31, 2026:

 

   Warrants  

Weighted-Average

Exercise Price

Per Share

 
Outstanding, December 31, 2025   6,350,000   $0.15 
Granted   3,300,000    0.08 
Exercised        
Forfeited        
Expired        
Outstanding, March 31, 2026   9,650,000   $0.12 
Schedule of Stock Options Assumptions
   Period Ended 
   March 31, 2026 
Fair value of common stock on measurement date  $0.16 per share 
Risk free interest rate (1)   3.50%
Volatility (2)   67.73%
Dividend yield (3)   0%
Expected term (in years)   0.9 years 

 

(1) The risk-free interest rate was determined by management using the market yield on U.S. Treasury securities with comparable terms as of the measurement date.
(2) The trading volatility was determined by calculating the volatility of the Company’s peer group.
(3) The Company does not expect to pay a dividend in the foreseeable future.
Schedule of Stock Options

The following table summarizes the stock option activity for the three months ended March 31, 2026:

 

   Options  

Weighted-Average

Exercise Price

Per Share

 
Outstanding, December 31, 2025   5,465,000   $0.41 
Granted   450,000    0.18 
Exercised        
Forfeited   (550,000)   0.51 
Expired        
Outstanding, March 31, 2026   5,365,000   $0.38 
Exercisable, March 31, 2026   3,113,750   $0.36