v3.26.1
Common Stock Warrants (Tables)
6 Months Ended
Jun. 30, 2026
Common Stock Warrants [Abstract]  
Schedule of Warrant Activity

The following table summarizes all warrant activity of the Company for the six months ended June 30, 2026:

 

       Weighted   Weighted 
       Average   Average 
   Number of   Exercise   Contractual 
   Warrants   Price   Term (Years) 
Balance outstanding at December 31, 2025   2,478,848   $85.38    4.58 
Granted   1,768,315    4.30    5.26 
Exercised   
-
    
-
    - 
Forfeited   
-
    
-
    - 
Expired   
-
    
-
    - 
Balance outstanding at June 30, 2026   4,247,163    8.93    4.08 
Exercisable at June 30, 2026   2,366,017    11.94    3.51 
Schedule of Assumptions Used The warrant liability was valued based on the following inputs for the Series A and Series B Warrants, respectively:
Input  June 30,
2026
   December 31,
2025
 
Exercise price  $75.95   $75.95 
Stock price  $5.33   $4.53 
Volatility   162.5% and 114.5%   155.6% and 151.3%
Discount rate   4.15% and 3.98%   3.61% and 3.48%
Expected dividend   
-
    
-
 
Expected life (years)   3.14 and 0.64    3.64 and 1.13 
Schedule of Reconciliation of Changes in the Company’s Level 3 Warrant Liability

The following tables present a reconciliation of changes in the Company’s Level 3 warrant liability for the three and six months ended June 30, 2026:

 

Ending balance, December 31, 2025  $479,747 
Exercises   
-
 
Change in fair value of warrant liability   8,857 
Ending balance, March 31, 2026   488,603 
Exercises   
-
 
Change in fair value of warrant liability   66,702 
Ending balance, June 30, 2026  $555,306 

 

The following tables present a reconciliation of changes in the Company’s Level 3 warrant liability for the three and six months ended June 30, 2025:

 

Ending balance, December 31, 2024  $799,284 
Exercises   
-
 
Change in fair value of warrant liability   (408,562)
Ending balance, March 31, 2025   390,722 
Exercises   
-
 
Change in fair value of warrant liability   (62,112)
Ending balance, June 30, 2025  $328,610