v3.26.1
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:

  

   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:

  

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):

  

   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:

   

   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:

  

    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:

  

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