Stockholders’ Equity |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Stockholders’ Equity [Abstract] | |
| STOCKHOLDERS’ EQUITY | 13. STOCKHOLDERS’ EQUITY
Reincorporation and Increase in Authorized Shares
On March 2, 2026, the Company’s stockholders approved the reincorporation of the Company from the State of Nevada to the State of Delaware, which was effected on the same date. In connection with the special meeting, stockholders also approved an increase in the number of authorized shares of common stock from 350,000,000 to 1,500,000,000 shares, par value $0.0001 per share.
Reverse Stock Split
On July 9, 2026, the Company effected a one-for-one hundred (1-for-100) reverse stock split of its issued and outstanding common stock, as described in Note 1. All share and per-share amounts presented throughout this Note have been retroactively adjusted to reflect the Reverse Stock Split for all periods presented, in accordance with ASC 260, Earnings Per Share.
2026 Stock Transactions
During the three months ended June 30, 2026, the Company issued 1,619 shares of common stock pursuant to its at-the-market offering program for net proceeds of $165,999.
2025 Stock Transactions
During the six months ended June 30, 2025, the Company issued 23,611 shares of common stock pursuant to its at-the-market offering program for net proceeds of $11,559,068, of which $108,054 was received in April 2025 and recorded as a subscription receivable as of March 31, 2025. Additionally, the Company issued 2,105 shares of common stock upon the cash exercise of outstanding warrants for aggregate gross proceeds of $4,051,415. As of June 30, 2025, warrants remained outstanding.
During the six months ended June 30, 2025, the Company issued 33 shares of common stock to Avraham Ben-Tzvi in recognition of his service as a former director, valued at $5,180 per share based on the grant-date fair value of January 2, 2025, resulting in stock-based compensation expense of $172,679 recorded within general and administrative expenses in the statements of operations.
On June 3, 2025, the Company entered into an Advisory Services Agreement with a third party to provide capital markets and investor relations advisory services, in connection with which the Company issued 330 shares of common stock valued at $144 per share, resulting in a total non-cash expense of $47,520 recorded within general and administrative expenses for the three and six months ended June 30, 2025.
During the six months ended June 30, 2025, the Company issued 2,105 shares of common stock upon the exercise of warrants, resulting in aggregate gross proceeds of $4,051,415. As of June 30, 2025, no warrants remain outstanding.
Restricted Stock Units
As of December 31, 2025, all restricted stock units had been fully vested or forfeited and unrecognized compensation cost remained. RSU activity occurred during the six months ended June 30, 2026. Stock-based compensation expense related to restricted stock units was $0 and $664,696 for the three months ended June 30, 2026 and 2025, respectively, and $0 and $1,360,205 for the six months ended June 30, 2026 and 2025, respectively. |