v3.26.1
STOCKHOLDERS’ EQUITY (Tables)
6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
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

 

   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  $4.384.40    $ 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:

 

 

  

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

    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:

 

  

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:

 

   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.