Stockholders’ Equity (Tables)
|
6 Months Ended |
Jun. 30, 2026 |
| Stockholders’ Equity [Abstract] |
|
| Schedule of Restricted Stock Activity |
A
summary of restricted stock activity during the period January 1, 2025 to June 30, 2026 is as follows:
| | |
Total
restricted shares | | |
Weighted
average fair market value per share | | |
Total
unvested restricted shares | | |
Weighted
average fair market value per share | | |
Total
vested restricted shares | | |
Weighted
average fair market value per share | |
| Outstanding January 1, 2025 | |
| 783,167 | | |
$ | 1.5000 | | |
| - | | |
$ | - | | |
| 783,167 | | |
$ | 1.50 | |
| Granted and issued | |
| 67,500,000 | | |
| 0.0037 | | |
| - | | |
| - | | |
| 67,500,000 | | |
| 0.0037 | |
| Forfeited/Cancelled | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| Vested | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| Outstanding December 31, 2025 | |
| 68,283,167 | | |
$ | 0.0207 | | |
| - | | |
$ | - | | |
| 68,283,167 | | |
$ | 0.0207 | |
| Granted and issued | |
| 50,000,000 | | |
| 0.0126 | | |
| - | | |
| - | | |
| 50,000,000 | | |
| 0.0126 | |
| Forfeited/Cancelled | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| Vested | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| Outstanding June 30,
2026 | |
| 118,283,167 | | |
$ | 0.0173 | | |
| - | | |
$ | - | | |
| 118,283,167 | | |
$ | 0.0173 | |
|
| Schedule of Expense and Settled Outstanding Liabilities |
The
restricted stock granted, issued and exercisable at June 30, 2026 is as follows:
| |
|
|
Restricted
Stock
Granted and Vested |
|
| Grant
date Price |
|
|
Number
Granted |
|
|
Weighted
Average
Fair Value per Share |
|
| $ |
0.0037 |
|
|
|
67,500,000 |
|
|
$ |
0.0037 |
|
| $ |
0.0126 |
|
|
|
50,000,000 |
|
|
$ |
0.0126 |
|
| $ |
1.4700 |
|
|
|
683,167 |
|
|
$ |
1.4700 |
|
| $ |
1.5000 |
|
|
|
33,333 |
|
|
$ |
1.5000 |
|
| $ |
1.6500 |
|
|
|
66,667 |
|
|
$ |
1.6500 |
|
| |
|
|
|
|
118,283,167 |
|
|
$ |
0.0173 |
|
|
| Schedule of Expense and Settled Outstanding Liabilities |
The
Company has recorded an expense and settled outstanding liabilities as follows:
| Grant date | | Number of shares granted | | | Vesting terms | | Grant date fair value | | | Expensed during the period | | | Liability settled | | | | | | | | | | | | | | | | | | | | | | | February 3, 2026 | | | 50,000,000 | | | Immediate | | $ | 630,000 | | | $ | 553,000 | | | $ | 77,000 | |
|
| Schedule of Fair Value of the Warrants Granted and Issued |
The
fair value of the warrants granted and issued, as described above, were determined by using a Black Scholes valuation model using the
following assumptions:
| |
|
Six
months
ended
June 30,
2026 |
|
|
Year
ended
December 31,
2025 |
|
| |
|
|
|
|
|
|
| Exercise price |
|
$ |
0.005 to 0.02 |
|
|
$ |
0.0005 to 0.084 |
|
| Risk free interest rate |
|
|
3.79 to 4.05 |
% |
|
|
3.77 to 4.46 |
% |
| Expected life of derivative liability |
|
|
3 to 5 years |
|
|
|
1 to 5 years |
|
| Expected volatility of underlying stock |
|
|
197.25 to 213.6 |
% |
|
|
183.1 to 352.45 |
% |
| Expected dividend rate |
|
|
0 |
% |
|
|
0 |
% |
|
| Schedule of Warrant Activity |
A
summary of warrant activity during the period January 1, 2025 to June 30, 2026 is as follows:
| | |
Shares
Underlying Warrants | | |
Exercise
price per share | |
Weighted
average exercise price | |
| Outstanding January 1, 2025 | |
| 22,011,614 | | $ |
0.084 – 5.625 | | |
$ | 0.319900 | |
| Granted | |
| 55,204,761 | | |
0.005 to 0.084 | | |
| 0.00474 | |
| Increase in warrants issued due to anti-dilution
price protection | |
| 2,157,367,790 | | |
0.0005 | | |
| 0.00050 | |
| Forfeited | |
| (1,853,425,066 | ) | |
0.0005 to $4.50 | | |
| 0.00149 | |
| Exercised | |
| (531,165 | ) | |
0.0005 to 1.035 | | |
| 0.97430 | |
| Outstanding December 31, 2025 | |
| 380,627,934 | | $ |
0.0005 – 5.625 | | |
$ | 0.01052 | |
| Granted | |
| 22,250,000 | | |
0.005 to 0.02 | | |
| 0.00612 | |
| Forfeited | |
| (552,438 | ) | |
0.0005 to 5.625 | | |
| 2.22652 | |
| Exercised | |
| - | | |
- | | |
| - | |
| Outstanding June 30,
2026 | |
| 402,325,496 | | $ |
0.0005 – 1.5000 | | |
$ | 0.00720 | |
|
| Schedule of Warrants Outstanding and Exercisable |
The
warrants outstanding and exercisable at June 30, 2026 are as follows:
| | | Warrants Outstanding | | | Warrants Exercisable | | | Exercise Price* | | Number Outstanding | | | Weighted Average Remaining Contractual life in years | | | Weighted Average Exercise Price | | | Number Exercisable | | | Weighted Average Exercise Price | | | Weighted Average Remaining Contractual life in years | | | $ | 0.0005 | | | 370,285,776 | | | | 2.76 | | | | | | | | 370,285,776 | | | | | | | | 2.76 | | | | 0.0050 | | | 19,800,000 | | | | 4.53 | | | | | | | | 19,800,000 | | | | | | | | 4.53 | | | $ | 0.0100 | | | 5,000,000 | | | | 4.85 | | | | | | | | 5,000,000 | | | | | | | | 4.85 | | | $ | 0.3450 | | | 6,939,718 | | | | 2.20 | | | | | | | | 6,939,718 | | | | | | | | 2.20 | | | $ | 0.4500 | | | 266,668 | | | | 1.98 | | | | | | | | 266,668 | | | | | | | | 1.98 | | | $ | 1.5000 | | | 33,334 | | | | 2.12 | | | | | | | | 33,334 | | | | | | | | 2.12 | | | | | | | 402,325,496 | | | | 2.85 | | | $ | 0.0072 | | | | 402,325,496 | | | $ | 0.0072 | | | | 2.85 | |
|
| Schedule of Option Activity |
A
summary of option activity during the period January 1, 2025 to June 30, 2026 is as follows:
| | |
Shares
Underlying
options | | |
Exercise
price per
share | | |
Weighted
average
exercise
price | |
| Outstanding January 1, 2025 | |
| 1,513,335 | | |
| $1.20 to 12.00 | | |
$ | 4.47 | |
| Granted | |
| 600,000 | | |
| 0.09 | | |
| 0.09 | |
| Forfeited/Cancelled | |
| (333,334 | ) | |
| 4.50 | | |
| 4.50 | |
| Exercised | |
| - | | |
| - | | |
| - | |
| Outstanding December 31, 2025 | |
| 1,780,001 | | |
| $0.09 to 12.00 | | |
$ | 2.989 | |
| Granted | |
| - | | |
| - | | |
| - | |
| Forfeited/Cancelled | |
| - | | |
| - | | |
| - | |
| Exercised | |
| - | | |
| - | | |
| - | |
| Outstanding June 30,
2026 | |
| 1,780,001 | | |
| $0.09 to 12.00 | | |
$ | 2.989 | |
|
| Schedule of Options Outstanding and Exercisable |
The
options outstanding and exercisable at June 30, 2026 are as follows:
| | | | Options Outstanding | | | Options Exercisable | | | Exercise Price* | | | Number Outstanding | | | Weighted Average Remaining Contractual life in years | | | Weighted Average Exercise Price | | | Number Exercisable | | | Weighted Average Exercise Price | | | Weighted Average Remaining Contractual life in years | | | $ | 0.09 | | | | 600,000 | | | | 8.53 | | | | | | | | 450,000 | | | | | | | | 8.53 | | | $ | 1.20 | | | | 13,334 | | | | 6.21 | | | | | | | | 13,334 | | | | | | | | 6.21 | | | $ | 4.50 | | | | 1,166,667 | | | | 5.52 | | | | | | | | 1,166,667 | | | | | | | | 5.52 | | | | | | | | 1,780,001 | | | | 6.54 | | | $ | 2.989 | | | | 1,630,001 | | | $ | 3.256 | | | | 6.36 | |
|