v3.26.1
Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2025
Stockholders Equity  
Schedule of Shares Issued to Consultants and Vendors

The following shares were issued to consultants and vendors for the year ended December 31, 2025 (in thousands, except share amounts):

 

Description

 

Origination Date

 

Shares

 

 

Fair Value

 

 

Settlement Date

 

Fair Value at Settlement

 

 

Change in Fair Value

 

Settlement of liability with consultants

 

January 2025

 

 

50,000

 

 

$

247

 

 

April 2025

 

$

327

 

 

$

80

 

Issuance of common stock to consultant

 

April 2025

 

 

22,935

 

 

 

100

 

 

November 2025

 

 

141

 

 

 

41

 

Issuance of common stock to consultant

 

April 2025

 

 

50,000

 

 

 

327

 

 

April 2025

 

 

327

 

 

 

 

 

 

 

 

122,935

 

 

$

674

 

 

 

 

$

795

 

 

$

121

 

The following shares were issued to consultants and vendors for the year ended December 31, 2024 (in thousands, except share amounts):

 

Description

 

Origination Date

 

Shares

 

 

Fair Value

 

 

Settlement Date

 

Fair Value at Settlement

 

 

Change in Fair Value

 

Settlement of liability with consultants

 

January 2024

 

 

100,000

 

 

$

195

 

 

September 2024

 

$

219

 

 

$

(24

)

Settlement of liability with consultants

 

April 2024

 

 

60,000

 

 

 

241

 

 

June 2024

 

 

184

 

 

 

57

 

Issuance of common stock to consultant

 

June 2024

 

 

60,000

 

 

 

183

 

 

June 2024

 

 

183

 

 

 

 

Settlement of liability with consultants

 

July 2024

 

 

50,000

 

 

 

164

 

 

September 2024

 

 

110

 

 

 

54

 

Issuance of restricted common stock to consultants

 

September 2024

 

 

150,000

 

 

 

 

 

September 2024

 

 

 

 

 

 

Settlement of liability with consultants

 

December 2024

 

 

135,000

 

 

 

531

 

 

December 2024

 

 

642

 

 

 

(111

)

 

 

 

 

555,000

 

 

$

1,314

 

 

 

 

$

1,338

 

 

$

(24

)

Schedule of Share Liability

Activity of the share liabilities for the year ended December 31, 2025 is as follows (in thousands):

 

 

Share Liabilities
as of December 31, 2024

 

 

New Share
Liabilities
in 2025

 

 

Mark to
Market
Adjustments
in 2025

 

 

Liabilities
Settled
in 2025

 

 

Share Liabilities
as of December 31, 2025

 

Share liabilities

 

$

 

 

$

674

 

 

$

121

 

 

$

(795

)

 

$

 

Activity of the share liabilities for the year ended December 31, 2024 is as follows (in thousands):

 

 

Share Liabilities
as of
December 31,
2023

 

 

New Share
Liabilities
in 2024

 

 

Mark to
Market
Adjustments
in 2024

 

 

Liabilities
Settled
in 2024

 

 

Share Liabilities
as of
December 31,
2024

 

Share liabilities

 

$

 

 

$

1,131

 

 

$

24

 

 

$

(1,155

)

 

$

 

Schedule of Assumptions Used for Fair Value of Warrants

The fair value of the Inducement Warrant was determined to be $2.8 million and estimated based on the Black-Scholes model, using the following assumptions:

 

Expected volatility

 

 

73.5

%

Weighted-average risk-free rate

 

 

4.37

%

Expected term in years

 

 

5.5

 

Expected dividend yield

 

 

%

The fair value of the Commission Warrant was determined to be $0.7 million and estimated based on the Black-Scholes model, using the following assumptions:

 

Expected volatility

 

 

73.5

%

Weighted-average risk-free rate

 

 

4.60

%

Expected term in years

 

 

5.5

 

Expected dividend yield

 

 

%