v3.26.3
Stock-based Compensation (Tables)
9 Months Ended
Sep. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of total compensation expense recognized

Total compensation expense recognized for stock-based compensation for the three and nine months ended September 30, 2026 and 2025 was as follows:

 

                         
   Three months ended   Nine months ended 
   September 30,   September 30, 
Financial Statement Line Item  2026   2025   2026   2025 
Management and advisory fees  $304,936   $-   $979,272    5,005,505 
Salaries and wages   72,130    -    115,354    75,900 
Professional fees   32,356    -    33,762    - 
Total stock-based compensation  $409,422   $-   $1,128,388   $5,081,405 

 

                   
   Three months ended   Nine months ended 
   September 30,   September 30, 
Compensation Type  2026   2025   2026   2025 
Stock options  $393,626   $-   $565,919   $2,130,404 
RSUs   15,796    -    26,269    270,000 
Warrants   -    -    536,200    2,681,001 
Total stock-based compensation  $409,422   $-   $1,128,388   $5,081,405 
Schedule of stock options

A summary of stock option activity within the Company’s LTIP plan for the nine months ended September 30, 2026 and 2025 is as follows:

 

  

Number of Stock

Options Outstanding

  

Weighted Average Exercise Price ($)

   Weighted Average Contractual Life (Years) 
Balance, December 31, 2024   665,000    2.80    3.90 
Granted   860,000    3.10      
Balance, September 30, 2025   1,525,000    3.01    3.87 
                
Balance, December 31, 2025   1,607,500    3.11    3.68 
Granted   939,000    9.80      
Expired/ Forfeited   (57,500)   3.57      
Balance, September 30, 2026   2,489,000    5.63    3.65 
Exercisable, September 30, 2026   1,503,334    3.06    2.91 
Schedule of activity related to restricted share units

A summary of activity related to restricted share units (“RSUs”) during the nine-month period ended September 30, 2026, is presented below:

 

       Weighted 
       Average 
       Grant 
   Number of   Date Fair 
   Units   Value 
Unvested grants outstanding at December 31, 2025   133,135   $3.87 
Granted during the period   55,324    8.29 
Forfeited during the period   -    - 
Vested during the period   -    - 
Unvested grants outstanding at September 30, 2026   188,459   $5.17 
Schedule of warrant activity related to financing events

A summary of the Company’s warrant activity related to financing events for the nine months ended September 30, 2026 and 2025 are as follows:

 

   Number  

Weighted
Average
exercise

price

 
 Balance, December 31, 2024    7,949,531   $4.70 
 Issued    215,872    6.00 
 Exercised    (1,200,121)   3.90 
 Expired    (44,443)   3.50 
 Balance, September 30, 2025    6,920,839   $4.90 
             
 

Balance, December 31, 2025 

    397,049   $4.87 
 Issued    -    - 
 Exercised    (185,000)   4.86 
 Expired    (94,821)   5.29 
 Balance, September 30, 2026    117,228   $4.27