STOCKHOLDERS’ EQUITY (Tables)
|
6 Months Ended |
Jun. 30, 2026 |
| Equity [Abstract] |
|
| SUMMARY OF AGGREGATE COMMON STOCK SHARES ISSUED |
SUMMARY OF AGGREGATE COMMON STOCK SHARES ISSUED
| Nature | |
Shares | |
| Shares issued
in connection with stock-based compensation | |
| 359,042 | |
| Sales
of common stock (ATM process) | |
| 2,468,502 | (*) |
| Total | |
| 2,827,544 | |
| (*) |
2,468,502
shares of Common Stock were sold through the 2025 Form S-3 and the ATM Agreement for proceeds of $11.9
million, net of commissions and fees. |
Six
Months Ended June 30, 2026 Transactions
During
the six months ended June 30, 2026, the Company issued an aggregate of 3,094,116 shares of its Common Stock, as follows:
| Nature | |
Shares | |
| Shares issued
in connection with stock-based compensation | |
| 908,919 | |
| Sales
of common stock (ATM process) | |
| 2,185,197 | (*) |
| Total | |
| 3,094,116 | |
| (*) |
2,185,197
shares of Common Stock were sold through the 2025 Form S-3 and the ATM Agreement for proceeds of $11.3
million, net of commissions and fees. |
|
| SCHEDULE OF BLACK-SCHOLES OPTION PRICING MODEL |
SCHEDULE OF BLACK-SCHOLES OPTION PRICING MODEL
| | |
June
30, 2026 | | |
June
30, 2025 | |
| Expected
volatility | |
| 84.6% -97.43% | | |
| 84.01%
– 84.01 | % |
| Risk-free
interest rate | |
| 4.17% - 4.44% | | |
| 4.57%
– 4.57 | % |
| Stock price
on date of grant | |
$ | 4.38 – 4.40 | | |
| $
6.97 – $6.97 | |
| Dividend
yield | |
| 0.00 | % | |
| 0.00 | % |
| Expected
term | |
| 1 years | | |
| 1
years | |
|
| SCHEDULE OF COMMON STOCK OUTSTANDING |
Changes
in common stock options for the six months ended June 30, 2025 and 2026 were as follows:
SCHEDULE OF COMMON STOCK OUTSTANDING
| | |
Number
of
Options
Outstanding
and Vested | | |
Weighted
Average
Exercise
Price | | |
Remaining
Contractual
Life
(Years) | | |
Aggregated
Intrinsic
Value | |
| Outstanding and vested, January 1, 2025 | |
| 40,667 | | |
$ | 0.2041 | | |
| 3.44 | | |
$ | 249,122 | |
| Issued (1) | |
| 439,996 | | |
| 0.0077 | | |
| - | | |
| - | |
| Exercised | |
| - | | |
| - | | |
| - | | |
| - | |
| Forfeited | |
| - | | |
| - | | |
| - | | |
| - | |
| Outstanding and vested, June 30, 2025 | |
| 480,663 | | |
$ | 0.0243 | | |
| 4.88 | | |
$ | 1,804,206 | |
| | |
Number
of
Options
Outstanding
and Vested | | |
Weighted
Average
Exercise
Price | | |
Remaining
Contractual
Life
(Years) | | |
Aggregated
Intrinsic
Value | |
| Outstanding
and vested, January 1, 2026 | |
| 70,667 | | |
$ | 0.1217 | | |
| 4.10 | | |
$ | 290,321 | |
| Issued (2) | |
| 454,996 | | |
| 0.0075 | | |
| - | | |
| - | |
| Exercised
|
|
|
(2,500 |
) |
|
|
0.0075 |
|
|
|
- |
|
|
|
- |
|
| Forfeited |
|
|
(7,500 |
) |
|
|
0.0075 |
|
|
|
- |
|
|
|
- |
|
| Outstanding
and vested, June 30, 2026 | |
| 515,663 | | |
$ | 0.0232 | | |
| 4.26 | | |
| 1,890,859 | |
| (1) | In the six months ended June 30, 2025, 439,966 common stock options were
issued with a grant date fair value of $3,066,772. |
| (2) | In the six months ended June 30, 2026, 454,996 common stock options were
issued with a grant date fair value of $1,993,182. |
|
| SCHEDULE OF WARRANT ASSUMPTION |
SCHEDULE OF WARRANT ASSUMPTION
| |
|
June
30, 2026 |
|
|
|
December
31, 2025 |
|
| Expected
volatility |
|
|
n/a |
|
|
|
85.43%
- 85.43 |
% |
| Risk-free
interest rate |
|
|
n/a |
|
|
|
4.20%
- 4.20 |
% |
| Stock
price on date of grant |
|
$ |
n/a |
|
|
$ |
6.45
- 6.45 |
|
| Dividend
yield |
|
|
n/a |
|
|
|
0%
- 0 |
% |
| Expected
term |
|
|
n/a |
|
|
|
1.99
- 1.99 Years |
|
|
| SCHEDULE OF WARRANT ACTIVITY |
Changes
in common stock purchase warrants for the six months ended June 30, 2026 were as follows:
SCHEDULE
OF WARRANT ACTIVITY
| | |
Number of
Warrants
Outstanding and Vested | | |
Weighted
Average
Exercise
Price | | |
Weighted
Average
Contractual
Life (Years) | | |
Aggregated
Intrinsic
Value | |
| Outstanding
and vested, January 1, 2026 | |
| 75,000 | | |
$ | 8.1250 | | |
| 2.08 | | |
$ | - | |
| Warrants Issued | |
| - | | |
$ | - | | |
| - | | |
| - | |
| Outstanding
and vested, June 30, 2026 | |
| 75,000 | | |
$ | 8.1250 | | |
| 0.58 | | |
$ | - | |
|
| SCHEDULE OF CHANGE IN RESTRICTED STOCK UNITS |
Changes
in RSUs for the six months ended June 30, 2026 and June 30, 2025 were as follows:
SCHEDULE OF CHANGE IN RESTRICTED STOCK UNITS
| | |
Number
of | |
| | |
RSUs
Outstanding | |
| Outstanding
at January 1, 2026 | |
| 194,000 | |
| Granted (1) | |
| 135,540 | |
| Vested (2) | |
| (27,250 | ) |
| Forfeited (3) | |
| (40,000 | ) |
| Outstanding
at June 30, 2026 | |
| 262,290 | |
| | |
Number
of
RSUs Outstanding | |
| Outstanding
at January 1, 2025 | |
| 572,476 | |
| Granted (4) | |
| 351,042 | |
| Vested (5) | |
| (379,042 | ) |
| Expired
or cancelled (6) | |
| (8,750 | ) |
| Outstanding
at June 30, 2025 | |
| 535,726 | |
| (1) | In the six months
ended June 30, 2026, 135,540 RSUs were granted to officers and consultants of the Company, with a total grant date fair value of $600,300
as measured at an average $4.43/share trailing to the date the RSU all granted with time-based vesting of four years. |
| (2) | In the six months
ended June 30, 2026, 27,250 RSUs vested and were settled through the issuance of 27,250 shares of common stock. |
| (3) | In
the six months ended June 30, 2026, 40,000
RSUs were forfeited upon termination or amendment of employment and service agreements with former executives and consultants of the
Company. |
| (4) | 351,042 RSUs were
granted to officers and consultants of the Company, with a total grant date fair value of $1,915,753 as measured at an average $5.46/share
trailing to the date the RSU was granted, as follows: (i) 326,042 RSUs which immediately vested upon grant and (ii) 25,000 RSUs with
time-based vesting of four years. |
| (5) | 379,042 RSUs vested
and were settled through the issuance of 379,042 shares of common stock. |
| (6) | 8,750 RSUs were
forfeited upon termination of employment and service agreements with former executives and consultants of the Company. |
|