v3.26.1
Stockholders’ Deficit (Tables)
6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Schedule of Dividends Payable

The following is a summary of the Company’s dividends:

 

   Series A   Series B     
   Convertible   Convertible   Total Dividends 
   Preferred Stock   Preferred Stock   Payable 
             
Shares issued and outstanding   -    140,000      
Stated value per share  $10   $10      
Dividend rate (10%/12%)   10.00%   12.00%     
                
Dividend due per year   -    168,000      
                
Market price - at issuance date   2.76    2.76      
Minimum price - 70%/80% discount to market price   80.00%   70.00%     
Conversion price   2.21    1.93      
                
Dividend shares due per quarter   -    21,739    21,739 
                
Equivalent common shares - per year   -    86,957    86,957 
                
Total dividend shares due at reporting date   -    21,739    21,739 
Market price - at issuance date (fixed rate)  $2.76   $2.76   $2.76 
                
Fair value of dividends payable - at reporting date  $-   $60,000   $60,000 
Schedule of Company Nonvested Shares

A summary of the Company’s non-vested shares (due to service time-based restrictions) as of June 30, 2026 and December 31, 2025, is presented below:

 

       Weighted Average 
   Number of   Grant Date 
Non-Vested Shares  Shares   Fair Value 
Balance - December 31, 2025    846,333   $1.37 
Granted   -      
Vested   429,667      
Cancelled/Forfeited   -      
Balance - June 30, 2026   416,666   $1.37 
Schedule of Stock Option Transaction

Stock option transactions for the six months ended June 30, 2026 is summarized as follows:

 

   Options   Weighted Average Exercise Price   Weighted Average Remaining Contractual Life (in years) 
Outstanding December 31, 2025   4,307,000   $2.60    5.66 
Granted   -   $-    - 
Exercised   -    -    - 
Forfeited/Cancelled   -    -    - 
Outstanding June 30, 2026   4,307,000   $2.60    5.17 
Exercisable June 30, 2026   2,312,500   $2.60    4.28 
Schedule of Stock Options Fair Value Assumptions

The fair value of the stock options granted in 2025 were determined using the Black-Scholes Option pricing model with the following assumptions:

 

Expected term (years)   10.00 
Expected volatility   119.91%
Expected dividends   0%
Risk free interest rate   4.34%
Schedule of Stock Warrant Activity

Warrant activity for the six months ended June 30, 2026 and December 31, 2025 are summarized as follows:

 

           Weighted     
       Weighted   Average     
       Average   Remaining   Aggregate 
   Number of   Exercise   Contractual   Intrinsic 
Warrants  Warrants   Price   Term (Years)   Value 
Outstanding - December 31, 2025   2,735,895   $4.89    2.29   $- 
Vested and exercisable - December 31, 2025   2,735,895   $4.89    2.29   $- 
Unvested and non-exercisable - December 31, 2025   -   $-    -   $- 
Granted   -   $-    -    - 
Exercised   -    -    -    - 
Cancelled/forfeited   (9,035)  $5.64    -    - 
Outstanding - June 30, 2026   2,726,860   $4.89    1.80   $- 
Vested and exercisable - June 30, 2026   2,726,860   $4.89    1.80   $- 
Unvested and non-exercisable - June 30, 2026   -   $-    -   $-