| Schedule of Common Stock Warrant Activity |
The following table summarizes common stock warrant activity for the three months ended March 31, 2026: | | | Number of warrants | | | Weighted Average Exercise Price | | | Outstanding at December 31, 2025 | | | 10,176,273 | | | $ | 1.08 | | | Issued | | | 2,168,829 | | | | 0.01 | | | Exercised | | | (2,639,038 | ) | | | 0.01 | | | Outstanding at March 31, 2026 | | | 9,706,064 | | | $ | 1.13 | |
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The following table summarizes common stock warrant activity for the years ended December 31, 2025 and 2024: | | | Number of warrants | | | Weighted Average Exercise Price | | | Outstanding at December 31, 2023 | | | 7,277,404 | | | $ | 1.49 | | | Issued | | | 250,000 | | | | 0.01 | | | Exercised | | | — | | | | — | | | Canceled | | | — | | | | — | | | Outstanding at December 31, 2024 | | | 7,527,404 | | | $ | 1.45 | | | Issued | | | 3,398,869 | | | | 0.01 | | | Exercised | | | (750,000 | ) | | | 0.01 | | | Canceled | | | — | | | | — | | | Outstanding at December 31, 2025 | | | 10,176,273 | | | $ | 1.08 | |
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| Schedule of Fair Value of Common Stock Warrants |
The fair value of common stock warrants issued was estimated using the following assumptions: | | | Three months ended March 31, 2026 | | Expected term (in years) | | 10 | | Expected volatility | | 56.6% - 57.9% | | Risk-free rate | | 4.0% - 4.3% | | Dividend yield | | 0% |
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The fair value of common stock warrants issued was estimated using the following assumptions: | | | 2025 | | | 2024 | | | Expected term (in years) | | | 10 | | | | 10 | | | Expected volatility | | | 79.6% - 79.9 | % | | | 56.9 | % | | Risk-free rate | | | 4.1% - 4.2 | % | | | 4.2 | % | | Dividend yield | | | — | | | | — | |
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