| Schedule of Warrants Granted Using the Black-Scholes Valuation Model |
The Company estimated the fair value of the warrants granted during the three and six months ended June 30, 2026 and 2025 using the Black-Scholes valuation model with the following assumptions: | | | Three Months Ended | | Six Months Ended | | | | June 30, | | June 30, | | | | 2026 | | 2025 | | 2026 | | 2025 | | Risk-free interest rate | | 4.16%-4.26% | | N/A | | 3.58%-4.26% | | 4.25%-4.37% | | Expected term (years) | | 3.68-5.00 | | N/A | | 3.68-5.00 | | 1.50-7.00 | | Expected volatility | | 81.5%-84.2% | | N/A | | 80.5%-84.2% | | 86.0%-98.0% | | Expected dividends | | 0% | | N/A | | 0% | | 0% |
|
The Company estimated the fair value of the warrants granted using the Black-Scholes valuation model with the following assumptions: | | | For the Years Ended | | | | December 31, | | | | 2025 | | 2024 | | | | | | | | Risk-free interest rate | | 3.64% - 4.37% | | N/A | | Expected term (years) | | 1.00 - 7.00 | | N/A | | Expected volatility | | 86.0% - 108.0% | | N/A | | Expected dividends | | 0.00% | | N/A |
|
| Schedule of Information Related to Warrants |
The following table presents information related to warrants as of June 30, 2026: | Class of Warrants | | Quantity | | | Exercise Price | | | Expiration Date | | Investor A | | | 915,764 | | | $ | 4.40 | | | 9/30/2026 | | Investor B | | | 544,283 | | | $ | 6.55 | | | 2/11/2030 | | Placement Agent | | | 270,204 | | | $ | 4.40 | | | 2/11/2032 | | Investor A | | | 319,528 | | | $ | 4.40 | | | 9/30/2026 | | Investor B | | | 160,910 | | | $ | 6.55 | | | 3/31/2030 | | Placement Agent | | | 79,882 | | | $ | 4.40 | | | 3/30/2032 | | Original | | | 56,815 | | | $ | 4.40 | | | 2/11/2030 | | Exchange | | | 75,755 | | | $ | 3.30 | | | 2/11/2030 | | Placement Agent | | | 38,240 | | | $ | 5.00 | | | 6/9/2031 | | Total | | | 2,461,381 | | | | | | | |
|
The following table presents information related to warrants as of December 31, 2025: | Class of Warrants | | Quantity | | | Exercise Price | | | Expiration Date | | Investor A | | | 1,080,814 | | | $ | 4.40 | | | 2/11/2026 | | Investor B | | | 542,462 | | | $ | 6.575 | | | 2/11/2026 | | Placement Agent | | | 270,204 | | | $ | 4.40 | | | 2/11/2032 | | Investor A | | | 319,528 | | | $ | 4.40 | | | 3/31/2026 | | Investor B | | | 160,372 | | | $ | 6.575 | | | 3/31/2030 | | Placement Agent | | | 79,882 | | | $ | 4.40 | | | 3/31/2032 | | Original | | | 56,815 | | | $ | 4.40 | | | 2/11/2030 | | Exchange | | | 75,755 | | | $ | 3.30 | | | 2/11/2030 | | Placement Agent | | | 20,000 | | | $ | 5.00 | | | 12/23/2032 | | | | | | | | | | | | | | Total | | | 2,605,832 | | | | | | | |
|