Shareholders’ Equity (Tables)
|
6 Months Ended |
Jun. 30, 2026 |
| Equity [Abstract] |
|
| Schedule of Stock Option Activity |
A
summary of our stock option activity is as follows:
Schedule
of Stock Option Activity
| | |
Outstanding Options | |
| | |
June 30, 2026 | | |
June 30, 2025 | |
| | |
Number of
Shares | | |
Weighted
Average
Exercise
Price ($) (Per Share) | | |
Number of
Shares | | |
Weighted
Average
Exercise
Price ($) (Per Share) | |
| Opening | |
| 15,373,243 | | |
| 0.25 | | |
| 8,647,984 | | |
| 0.26 | |
| Granted | |
| 1,000,000 | | |
| 0.28 | | |
| 6,425,000 | | |
| 0.26 | |
| Cancelled | |
| (228,271 | ) | |
| 0.36 | | |
| - | | |
| - | |
| Forfeited / Expired | |
| (873,020 | ) | |
| 0.21 | | |
| (2,269,741 | ) | |
| 0.24 | |
| Closing | |
| 15,271,952 | | |
| 0.25 | | |
| 12,803,243 | | |
| 0.26 | |
| Exercisable | |
| 7,479,247 | | |
| 0.26 | | |
| 4,954,014 | | |
| 0.27 | |
|
| Schedule of Stock Options Outstanding And Exercisable |
The
following table summarizes information about stock options outstanding and exercisable under our stock incentive plans as of June 30,
2026:
Schedule
of Stock Options Outstanding And Exercisable
| Exercise Price | |
Number
Outstanding | | |
Weighted
Average
Remaining
Contractual
Life (Years) | | |
Weighted
Average
Exercise
Price Per
Share ($) | | |
Number
Exercisable | | |
Weighted
Average
Remaining
Contractual
Life (Years) | | |
Weighted
Average
Exercise
Price Per
Share ($) | |
| $ | 0.17 to $0.25 | | |
| 7,274,921 | | |
| 8.03 | | |
| 0.19 | | |
| 3,378,046 | | |
| 6.75 | | |
| 0.20 | |
| $ | 0.26 to $0.40 | | |
| 7,486,290 | | |
| 8.07 | | |
| 0.29 | | |
| 3,590,460 | | |
| 7.21 | | |
| 0.28 | |
| $ | 0.40 to $0.55 | | |
| 321,667 | | |
| 4.61 | | |
| 0.49 | | |
| 321,667 | | |
| 4.61 | | |
| 0.49 | |
| $ | 0.56 to $0.70 | | |
| 189,074 | | |
| 5.20 | | |
| 0.62 | | |
| 189,074 | | |
| 5.20 | | |
| 0.62 | |
| | | | |
| 15,271,952 | | |
| 7.95 | | |
| 0.25 | | |
| 7,479,247 | | |
| 6.84 | | |
| 0.26 | |
|
| Schedule of Stock-based Compensation Expense |
The
following table summarizes the stock-based compensation expense (recovery) (in thousands):
Schedule
of Stock-based Compensation Expense
| | |
2026 | | |
2025 | | |
2026 | | |
2025 | |
| | |
Three Months Ended
June 30, | | |
Six Months Ended
June 30, | |
| | |
2026 | | |
2025 | | |
2026 | | |
2025 | |
| Stock options | |
$ | 99 | | |
$ | 196 | | |
$ | 235 | | |
$ | 287 | |
| Restricted stock | |
| - | | |
| - | | |
| - | | |
| - | |
| Allocated Stock-based compensation | |
$ | 99 | | |
$ | 196 | | |
$ | 235 | | |
$ | 287 | |
| | |
| | | |
| | | |
| | | |
| | |
| Consolidated Statements of Operations account: | |
| | | |
| | | |
| | | |
| | |
| Selling and marketing | |
| (20 | ) | |
| 60 | | |
| 10 | | |
| 73 | |
| General and administrative | |
| 119 | | |
| 136 | | |
| 225 | | |
| 214 | |
| Stock-based compensation
expense | |
$ | 99 | | |
$ | 196 | | |
$ | 235 | | |
$ | 287 | |
|
| Schedule of Weighted-average Assumptions in Fair Value of Stock Options |
We
employ the following key weighted-average assumptions in determining the fair value of stock options, using the Black-Scholes option
pricing model and the simplified method to estimate the expected term of “plain vanilla” options:
Schedule of Weighted-average Assumptions in Fair Value of Stock Options
| | |
June 30,
2026 | | |
June 30,
2025 | |
| Expected dividend yield | |
| - | | |
| - | |
| Expected stock price volatility | |
| 82 | % | |
| 76.0 | % |
| Risk-free interest rate | |
| 4.34 | % | |
| 4.46 | % |
| Expected term (in years) | |
| 10.0 | | |
| 10.0 | |
| Weighted-average grant date fair-value per share | |
$ | 0.24 | | |
$ | 0.21 | |
|
| Schedule of Warrants Activity |
A
summary of our warrants activity is as follows:
Schedule
of Warrants Activity
| | | |
Outstanding Warrants | |
| | | |
June 30, 2026 | | |
June 30, 2025 | |
| | | |
Number of
Shares | | |
Weighted
Average
Exercise
Price ($) (Per Share) | | |
Number of
Shares | | |
Weighted
Average
Exercise
Price ($) (Per Share) | |
| Opening | | |
| 6,945,400 | | |
| 0.49 | | |
| 5,945,400 | | |
| 0.50 | |
| Granted | | |
| 550,000 | | |
| 0.40 | | |
| 750,000 | | |
| 0.45 | |
| Closing | | |
| 7,495,400 | | |
| 0.49 | | |
| 6,695,400 | | |
| 0.49 | |
|
| Schedule of Warrants Outstanding |
The
following table presents a summary of the Company’s outstanding warrants as of June 30, 2026:
Schedule
of Warrants Outstanding
| Expiry Date | |
Number Outstanding | | |
Remaining Contractual Life (Years) | | |
Exercise Price Per Share (in dollar) | | |
Number Exercisable | |
| July 26, 2026 | |
| 3,767,500 | | |
| 0.07 | | |
$ | 0.50 | | |
| 3,767,500 | |
| July 31, 2026 | |
| 800,000 | | |
| 0.08 | | |
$ | 0.50 | | |
| 800,000 | |
| August 21, 2026 | |
| 1,377,900 | | |
| 0.14 | | |
$ | 0.50 | | |
| 1,377,900 | |
| May 30, 2028 | |
| 750,000 | | |
| 1.92 | | |
$ | 0.45 | | |
| 750,000 | |
| August 5, 2028 | |
| 250,000 | | |
| 2.10 | | |
$ | 0.45 | | |
| 250,000 | |
| January 16, 2029 | |
| 550,000 | | |
| 2.55 | | |
$ | 0.40 | | |
| 550,000 | |
| | |
| 7,495,400 | | |
| | | |
| | | |
| 7,495,400 | |
|