v3.26.1
Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2026
Stock-Based Compensation [Abstract]  
Schedule of Fair Value of Stock Option Awards

The Company has estimated the fair value of the 2026 stock option awards as of the date of grant by applying the Black-Scholes option-pricing model using the following assumptions:

 

Risk- free interest rate     4.26 %
Expected term     5 years  
Expected volatility     74 %
Expected dividends     0  
Grant date fair value of common stock   $ 0.43  

The Company has estimated the fair value of the 2025 stock option awards as of the date of grant by applying the Black-Scholes option-pricing model using the following assumptions:

 

Risk- free interest rate     4.41 %
Expected term     5 years  
Expected volatility     54 %
Expected dividends     0  
Grant date fair value of common stock   $ 0.41  
Schedule of Stock Option Activity

The summary of stock option activity of the VHI Plan for the six months ended June 30, 2026 is as follows:

 

    Number of     Weighted
Average
Exercise
    Weighted
Average
Time
 
      Options       Price       to Expiry  
Outstanding as of December 31, 2025     0     $ -       -  
                         
Granted during the six months ended June 30, 2026     1,800,611     $ 0.84       10.0 years  
Expired during the six months ended June 30, 2026     -       -          
Exercised during the six months ended June 30, 2026     -                  
Outstanding as of June 30, 2026     1,800,611     $ 0.84       9.3 years  
                         
Exercisable as of June 30, 2026     1,713,323     $ 0.66       9.3 years  
The summary of stock options activity for the six months ended June 30, 2026 and the year ended December 31, 2025, is as follows:
    Number of     Weighted
Average
Exercise
    Weighted
Average
Time
 
    Options     Price     to Expiry  
Outstanding as of December 31, 2024     280     $ 3,451.03       6.0 years  
Granted during year ended December 31, 2025                  
Expired during year ended December 31, 2025     (1 )     2,400.00       -  
Exercised during year ended December 31, 2025                        
            -          
Outstanding as of December 31, 2025     279     $ 3,453.05       5.8 years  
Cancelled during the six months ended June 30, 2026     (279 )     3453.05       5.8 years  
Outstanding as of June 30, 2026     -     $ -       -  
                         
Exercisable as of June 30, 2026     0     $ -       -  
Exercisable as of December 31, 2025     279     $ 3,453.05       5.6 years  

The summary of stock option activity of the 2025 Plan for the year ended December 31, 2025 and the six months ended June 30, 2026 is as follows:

 

    Number of     Weighted
Average
Exercise
    Weighted
Average
Time
 
    Options     Price     to Expiry  
Outstanding as of December 31, 2024     0     $ -       -  
                         
Granted during year ended December 31, 2025     2,762,901       0.41       6.0 years  
Expired during year ended December 31, 2025      -       -          
Exercised during year ended December 31, 2025     -                  
                      -  
Outstanding as of December 31, 2025     2,762,901     $ 0.41       5.6 years  
Cancelled during the six months ended June 30, 2026     (2,762,901 )     0.41       5.6 years  
Outstanding as of June 30, 2026     0     $            
                         
Exercisable as of June 30, 2026     0     $ -       -  
Exercisable as of December 31, 2025     2,729,580     $ 0.41       5.6 years  
Schedule of Vested Stock Options Exercise Price

The following outlines the outstanding and vested stock options by exercise price as of December 31, 2025. There were no options outstanding at June 30, 2026.

 

Exercise Price   Number of
Options
Outstanding
and fully
vested –
December 31,
2025
 
$2,400.00     140  
$4,500.00     131  
$5,000.00     8  
Total     279