9.
WARRANTS
The
following table summarize the shares of the Company’s common stock issuable upon exercise of warrants outstanding at June 30, 2026:
SCHEDULE
OF COMMON STOCK ISSUABLE UPON EXERCISE OF WARRANTS OUTSTANDING
| | |
Warrants
Outstanding | |
| | |
Exercise
Price | | |
Number
Outstanding | | |
Weighted
Average
Remaining
Contractual
Life
(Years) | | |
Weighted
Average
Exercise
Price | |
| Underwriter
Warrants | |
$ | 7.50 | | |
| 66,700 | | |
| 0.01 | | |
$ | 0.03 | |
| March 2025 Warrant | |
| 1.45 | | |
| 56,676 | | |
| 0.01 | | |
| 0.00 | |
| June 2025 Warrant | |
| 0.38 | | |
| 500,000 | | |
| 0.12 | | |
| 0.01 | |
| July 2025 Warrant | |
| 0.38 | | |
| 15,656 | | |
| 0.00 | | |
| 0.00 | |
| August 2025 Warrant | |
| 0.47 | | |
| 3,204,908 | | |
| 0.41 | | |
| 0.09 | |
| January 2026 Warrant | |
| 0.47 | | |
| 2,900,613 | | |
| 0.37 | | |
| 0.08 | |
| May 2026 Revolver
Warrant | |
| 0.47 | | |
| 1,864,753 | | |
| 0.24 | | |
| 0.05 | |
| May
2026 SPA Warrant | |
| 0.40 | | |
| 8,276,944 | | |
| 1.06 | | |
| 0.20 | |
| | |
$ | 0.38-
7.50 | | |
| 16,886,250 | | |
| 2.23 | | |
$ | 0.46 | |
Of
the warrants outstanding, 6,105,521 shares remain subject to price reset as of June 30, 2026 based on future equity issuances with exercise
prices lower than the stated exercise price.
A
summary of warrant activity for the three months ended June 30, 2026 is presented below:
SCHEDULE
OF WARRANTS ACTIVITY
| | |
| | |
Weighted- | |
| | |
| | |
Average | |
| | |
| | |
Exercise | |
| | |
Options | | |
Price | |
| | |
| | |
| |
| Outstanding
at March 31, 2026 | |
| 6,744,553 | | |
$ | 0.54 | |
| Granted | |
| 10,141,697 | | |
| 0.41 | |
| Exercised | |
| - | | |
| - | |
| Forfeited | |
| - | | |
| - | |
| Outstanding
at June 30, 2026 | |
| 16,886,250 | | |
$ | 0.46 | |
As
of June 30, 2026, the intrinsic value of the outstanding warrants was $nil.
|