v3.26.1
Stock Options and Warrants (Tables)
3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Summary Of Information Related To Stock Options
A summary of information related to stock options is as follows:

 
 
 
 
 
Weighted
 
 
 
 
 
 
 
 
 
Average
 
 
Intrinsic
 
 
 
Options
 
 
Exercise Price
 
 
Value
 
 
 
 
 
 
 
 
 
 
 
Outstanding as of December 31, 2025
 
 
1,213,313
 
 
 
0.21
 
 
$
8,856,243

Granted
 
 
-
 
 
 
 
 
 
 
Exercised
 
 
(4,667
)
 
 
0.27
 
 
 
 
Forfeited
 
 
(22,221
)
 
 
0.18

 
 
 
Outstanding as of March 31, 2026
 
 
1,186,425
 
 
 
0.21
 
 
$
8,659,981
 
 
 
 
 
 
 
 
 
 
 
Exercisable as of March 31, 2026
 
 
721,964
 
 
 
0.21
 
 
$
5,269,777
 
Exercisable and expected to vest as of March 31, 2026
 
 
1,186,425
 
 
 
0.21
 
 
$
8,659,981

Summary Of Range Assumptions used In The Black-Scholes option-pricing model To Determine The Grant-date Fair Value Of Stock Options Granted To Employees And Directors
The following table presents the range assumptions used in the Black-Scholes option-pricing model to determine the grant-date fair value of stock options granted to employees and directors in the three months ended March 31:
 
 
2026
 
 
2025
 
Weighted average grant-date fair value of options
 
during the period
 
 
N/A
 
 
$
2.54
 
Weighted average duration (years) to expiration of
 
outstanding options at period-end
 
 
N/A
 
 
 
8.25
 
Summary Of Information Related To Common Stock Warrants
A summary of information related to Common Stock warrants is as follows:

 
 
Common
 
 
Weighted
 
 
 
Stock
 
 
Average
 
 
 
Warrants
 
 
Exercise Price
 
 
 
 
 
 
 
 
Outstanding as of December 31, 2025
 
 
716,816
 
 
$
2.19
 
Granted
 
 
129,063
 
 
 
4.39
 
Exercised
 
 
(290,860
)
 
 
0.94
 
Forfeited
 
 
-
 
 
 
-
 
 
 
 
 
 
 
 
Outstanding as of March 31, 2026
 
 
555,019
 
 
$
3.35
 
 
 
 
 
 
 
 
Exercisable as of March 31, 2026
 
 
555,019
 
 
$
3.35
 
Summary Of Common Stock Warrants Weighted average
 
 
 
 
 
 
 
 
 
 
 
 
2026
 
 
 
2025
 
Weighted average grant-date fair value of warrants granted
 
during the year
 
$
7.35
 
 
$
7.35
 
Weighted average duration (years) to expiration of
 
outstanding
 
 
2.79
 
 
 
3.67
 
Summary Of Common stock warrants were valued using the Black-Scholes model
Common stock warrants were valued using the Black-Scholes model with the following inputs as of March 31:

Common stock warrants
 
2026
 
 
2025
 
 
 
 
 
 
 
 
Risk free interest rate
 
 
4.3
%
 
 
4.4
%
Expected dividend yield
 
 
0.0
%
 
 
0.0
%
Expected volatility
 
 
65.0
%
 
 
65.0
%
Expected life (years)
 
 
10
 
 
10