STOCK OPTIONS AND WARRANTS |
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| Share-Based Payment Arrangement [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| STOCK OPTIONS AND WARRANTS |
Stock Options
The 2022 Incentive Plan authorizes a variety of incentive equity awards consisting of incentive stock options, non-qualified stock options, restricted stock, restricted stock units, and reserves for issuance up to shares of the Company’s common stock.
On April 1, 2026, the Company granted non-qualified stock options to a consultant. The options have an exercise price of $, expire on the tenth anniversary of the grant date, and vest options per month over a 35-month period from the grant date and the remaining options vest at the end of the 36-month.
Total stock compensation expense related to our outstanding stock options for the nine months ended September 30, 2026, and 2025, was $ and $, respectively. As of September 30, 2026, there was $ of unrecognized compensation cost related to the Options, which is expected to be recognized over a remaining weighted-average vesting period of approximately years.
The Company uses the binomial lattice valuation model to value option grants. The binomial lattice valuation model requires the use of these assumptions to determine the fair value of the stock-based awards. The Company uses management’s best estimates, which include the awards expected term, the fair value of the common stock, the expected volatility of the price of the common stock, the risk-free interest rate, and the expected dividend yield of the common stock. The expected term represents the period that the Company’s stock-based awards are expected to be outstanding. The Company has based its expected term on the simplified method available under U.S. GAAP.
Warrants
Transactions involving our warrants are summarized as follows:
Details of our warrants outstanding as of September 30, 2026, are as follows:
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