| Schedule of Stock Option Activity |
The
following table summarizes the Company’s stock option activity and related information:
Schedule of Stock Option Activity
| | |
Number of
Shares | | |
Weighted
Average
Exercise Price | | |
Aggregate
Intrinsic Value (in thousands) | | |
Weighted
Average
Remaining Life | |
| Outstanding as of December 31, 2025 | |
| 7,336,803 | | |
$ | 0.76 | | |
$ | 3,716,928 | | |
| 8.71 | |
| Granted | |
| 7,589,660 | | |
$ | 1.31 | | |
$ | - | | |
| - | |
| Exercised during period | |
| - | | |
$ | - | | |
| - | | |
| - | |
| Forfeited | |
| 631 | | |
$ | 0.95 | | |
$ | - | | |
| - | |
| Expired | |
| 12,870 | | |
$ | 1.15 | | |
| - | | |
| - | |
| Outstanding as of March 31, 2026 | |
| 14,912,962 | | |
$ | 1.04 | | |
$ | 3,716,511 | | |
| 9.20 | |
|
The
following table summarizes the Company’s stock option activity and related information:
Schedule of Stock Option Activity
| | |
Number of Shares | | |
Weighted Average Exercise Price | | |
Aggregate Intrinsic Value
(in thousands) | | |
Weighted Average Remaining Life | |
| Outstanding as of December 31, 2024 | |
| 5,028,134 | | |
$ | 0.57 | | |
$ | 3,737,966 | | |
| 9.30 | |
| Granted | |
| 2,372,814 | | |
$ | 1.17 | | |
$ | - | | |
| - | |
| Exercised during period | |
| 891 | | |
$ | 0.42 | | |
| - | | |
| - | |
| Forfeited | |
| 16,190 | | |
$ | 0.97 | | |
$ | - | | |
| - | |
| Expired | |
| 47,064 | | |
$ | 1.35 | | |
| - | | |
| - | |
| Outstanding as of December 31, 2025 | |
| 7,336,803 | | |
$ | 0.76 | | |
$ | 3,716,928 | | |
| 8.71 | |
|
| Schedule of Stock Options Valuation Assumptions |
|
The
estimated fair value of stock options was determined using the Black-Scholes option-pricing model with the following weighted-average
assumptions:
Schedule
of Stock Options Valuation Assumptions
| | |
Years
Ended December 31, | |
| | |
2025 | | |
2024 | |
| Expected term of options (years) | |
| 5.00-6.65 | | |
| 5.00-6.12 | |
| Expected volatility (%) | |
| 39.57-45.07 | | |
| 45.09-45.81 | |
| Risk-free interest rate (%) | |
| 3.86 | | |
| 4.57 | |
| Expected dividend yield (%) | |
| — | | |
| — | |
|
| Schedule of Stock Based Compensation Expenses |
Total
stock-based compensation expense for the three months ended March 31, 2026 and 2025 was as follows (in thousands):
Schedule
of Stock Based Compensation Expenses
| | |
March 31, 2026 | | |
March 31, 2025 | |
| | |
Three Months Years Ended | |
| | |
March 31, 2026 | | |
March 31, 2025 | |
| Cost of sales | |
| 15 | | |
| 4 | |
| Research and development | |
| 33 | | |
| 36 | |
| Sales and marketing | |
| 7 | | |
| 16 | |
| General and administrative | |
| 148 | | |
| 26 | |
| Total stock-based compensation expense | |
| 203 | | |
| 82 | |
|
Total
stock-based compensation expense for years ended December 31, 2025 and 2024 was as follows (in thousands):
Schedule
of Stock Based Compensation Expenses
| | |
2025 | | |
2024 | |
| | |
Years
Ended December 31, | |
| | |
2025 | | |
2024 | |
| Cost of sales | |
| 16 | | |
| 4 | |
| Research and development | |
| 100 | | |
| 153 | |
| Sales and marketing | |
| 22 | | |
| 115 | |
| General and administrative | |
| 477 | | |
| 689 | |
| Total stock-based compensation expense | |
| 615 | | |
| 961 | |
|