v3.26.1
WARRANT LIABILITIES (Tables)
6 Months Ended
Jun. 30, 2026
Warrant Liabilities  
SCHEDULE OF WARRANTS ACTIVITY

The following table summarizes the activity in liability classified warrants for the six months ended June 30, 2026:

 

   Common Stock Warrants 
   Shares  

Weighted–

Average

Exercise

Price

  

Range of

Exercise Price

  

Weighted–

Average

Remaining

Life (Years)

 
Total outstanding – December 31, 2025   67,218   $1.90   $0.05 - $7.80    3.68*
Granted                
Exercised                
Reclassified from equity                
Reclassified to equity                
Expired                
Total outstanding – June 30, 2026   67,218   $1.90   $0.05 - $7.80    3.19*
    67,218   $1.90   $0.05 - $7.80    3.19*

 

* excludes 51,199 pre-funded warrants which have no expiration date.

 

The following table summarizes the activity in liability classified warrants for the six months ended June 30, 2025:

 

   Common Stock Warrants 
   Shares  

Weighted–

Average

Exercise Price

  

Range of

Exercise Price

  

Weighted–

Average

Remaining

Life (Years)

 
Total outstanding – December 31, 2024   68,712   $2.00   $0.05 - $7.80    4.68*
Granted                
Exercised                
Expired   (1,494)  $6.50   $6.50 - $6.50     
Total outstanding – June 30, 2025   67,218   $1.90   $0.05 - $7.80    4.19*
Exercisable   67,218   $1.90   $0.05 - $7.80    3.83*

 

* excludes 51,199 pre-funded warrants which have no expiration date.
SCHEDULE OF FAIR VALUE OF HIERARCHY FOR WARRANT LIABILITIES

The following table presents the Company’s fair value hierarchy for its warrant liabilities measured at fair value on a recurring basis as of June 30, 2026:

 

   Quoted Market   Significant         
   Prices for   Other   Significant     
   Identical   Observable   Unobservable     
   Assets   Inputs   Inputs     
Common Stock Warrant liabilities  (Level 1)   (Level 2)   (Level 3)   Total 
Balance as of December 31, 2025  $   $   $141,878   $141,878 
Granted                
Exercised                
Gain on change in fair value of warrant liabilities           (74,625)   (74,625)
Balance as of June 30, 2026  $   $   $67,253   $67,253 

 

The following table presents the Company’s fair value hierarchy for its warrant liabilities measured at fair value on a recurring basis as of December 31, 2025:

 

   Quoted Market   Significant         
   Prices for   Other   Significant     
   Identical   Observable   Unobservable     
   Assets   Inputs   Inputs     
Common Stock Warrant liabilities  (Level 1)   (Level 2)   (Level 3)   Total 
Balance as of December 31, 2024  $   $   $269,175   $269,175 
Granted                
Exercised                
Gain on change in fair value of warrant liabilities           (127,297)   (127,297)
Balance as of December 31, 2025  $   $   $141,878   $141,878 
SCHEDULE OF ASSUMPTIONS OF WARRANT LIABILITIES

The following are the weighted average and the range of assumptions used in estimating the fair value of warrant liabilities (weighted average calculated based on the number of outstanding warrants on each issuance) as of June 30, 2026 and 2025:

 

 

   June 30, 2026   June 30, 2025 
   Range   Range 
Risk-free interest rate   4.15%   3.79%
Expected volatility (peer group)   130.00%   133.50%
Term of warrants (years)   3.19    4.19 
Expected dividend yield   0.00%   0.00%