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:
Schedule
of Dividends Payable
| | |
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:
Schedule of Company Nonvested Shares
| | |
| | |
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:
Schedule
of Stock Option Transaction
| | |
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:
Schedule
of Stock Options Fair Value 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:
Schedule
of Stock Warrant Activity
| | |
| | |
| | |
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 | |
| - | | |
$ | - | | |
| - | | |
$ | - | |
|