v3.26.3
Note 9 - Stockholders' Equity (Tables)
9 Months Ended
Sep. 30, 2026
Notes Tables  
Share-Based Payment Arrangement, Option, Activity [Table Text Block]

 

 

 

 

​

 

Weighted-Average

 

 

Aggregate

 

 

 

Number of

 

 

Exercise

 

 

Intrinsic

 

 

 

Option Shares

 

 

Price

 

 

Value

 

 

 

 

 

​

 

 

 

​

 

 

 

​

Options outstanding - December 31, 2025

 

 

33,907,621

 

 

$

0.58

 

 

 

 

​

Exercised

 

 

(30,000

)

 

 

0.25

 

 

 

 

​

Forfeited

 

 

(45,000

)

 

 

1.07

 

 

 

 

​

Expired

 

 

-

 

 

 

-

 

 

 

 

​

Granted

 

 

2,338,956

 

 

 

1.30

 

 

 

 

​

Options outstanding - September 30, 2026

 

 

36,171,577

 

 

$

0.63

 

 

$

18,114,403

 

Options exercisable - September 30, 2026

 

 

10,714,897

 

 

$

0.68

 

 

$

5,006,401

 

Weighted average fair value of options granted during the nine months ended September 30, 2026

 

 

 

​

 

$

0.95

 

 

 

 

​

​

​

​

​

​

​

Weighted-Average

​

​

Aggregate

​

​

​

Number of

​

​

Exercise

​

​

Intrinsic

​

​

​

Option Shares

​

​

Price

​

​

Value

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Options outstanding - December 31, 2024

​

​

25,555,170

​

​

$

0.42

​

​

​

​

​

Exercised

​

​

(356,150

)

​

​

0.51

​

​

​

​

​

Forfeited

​

​

(18,750

)

​

​

0.21

​

​

​

​

​

Expired

​

​

(19,100

)

​

​

0.74

​

​

​

​

​

Granted

​

​

8,628,951

​

​

​

1.06

​

​

​

​

​

Options outstanding - September 30, 2025

​

​

33,790,121

​

​

$

0.58

​

​

$

14,263,079

​

Options exercisable - September 30, 2025

​

​

6,645,816

​

​

$

0.66

​

​

$

2,315,670

​

Weighted average fair value of options granted during the nine months ended September 30, 2025

​

​

​

​

​

$

0.82

​

​

​

​

​

Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

 

 

Nine Months Ended September 30,

 

 

 

2026

 

 

2025

 

 

 

 

 

​

 

 

 

​

Expected life (years)

 

 

5.83 - 6.25

 

 

 

5.32 - 6.82

 

Expected stock-price volatility

 

 

81.73 - 84.76

%

 

 

85.4 - 88.0

%

Risk-free interest rate

 

 

3.88 - 4.45

%

 

 

3.93 - 4.38

%

Expected dividend yield

 

 

0

%

 

 

0

%

Share-Based Payment Arrangement, Cost by Plan [Table Text Block]

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

 

 

 

 

​

 

 

 

​

 

 

 

​

 

 

 

​

Cost of goods sold

 

$

56,442

 

 

$

8,610

 

 

$

123,045

 

 

$

22,193

 

Sales and marketing

 

 

158,626

 

 

 

33,270

 

 

 

283,655

 

 

 

85,607

 

Research and development

 

 

441,239

 

 

 

45,899

 

 

 

815,070

 

 

 

119,534

 

General and administrative

 

 

509,756

 

 

 

77,573

 

 

 

989,518

 

 

 

186,119

 

 

 

$

1,166,063

 

 

$

165,352

 

 

$

2,211,288

 

 

$

413,453

 

Schedule of Future Stock-based Compensation Payments [Table Text Block]

2026 (remaining)

 

$

163,739

 

2027

 

 

573,336

 

2028

 

 

369,578

 

2029

 

 

242,928

 

2030

 

 

86,213

 

Total related to options expected to vest

 

 

1,435,794

 

Performance grants not probable of achievement

 

 

9,506,394

 

Total unrecognized compensation expense

 

$

10,942,188

 

2026 (remaining)

 

$

29,488

 

2027

 

 

100,983

 

2028

 

 

77,248

 

2029

 

 

47,723

 

2030

 

 

12,464

 

Total

 

$

267,906

 

Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block]

 

 

 

 

​

 

Weighted Average

 

 

 

Nonvested

 

 

Grant Date

 

 

 

Restricted Shares

 

 

Fair Value

 

 

 

 

 

​

 

 

 

​

Outstanding as of December 31, 2025

 

 

696,838

 

 

$

0.39

 

Granted

 

 

111,497

 

 

 

1.29

 

Vested

 

 

(315,898

)

 

 

0.32

 

Forfeited

 

 

-

 

 

 

-

 

Outstanding as of September 30, 2026

 

 

492,437

 

 

$

0.64

 

 

 

 

 

​

 

Weighted Average

 

 

 

Nonvested

 

 

Grant Date

 

 

 

Restricted Shares

 

 

Fair Value

 

 

 

 

 

​

 

 

 

​

Outstanding as of December 31, 2024

 

 

861,161

 

 

$

0.25

 

Granted

 

 

121,260

 

 

 

1.07

 

Vested

 

 

(285,583

)

 

 

0.24

 

Forfeited

 

 

-

 

 

 

-

 

Outstanding as of September 30, 2025

 

 

696,838

 

 

$

0.39

 

Schedule of Warrant Activity [Table Text Block]

 

 

Number of

 

 

Weighted-Average

 

 

 

Warrants

 

 

Exercise Price

 

 

 

 

 

​

 

 

 

​

Warrants outstanding - December 31, 2025

 

 

5,216,158

 

 

$

0.4742

 

Warrants issued

 

 

-

 

 

 

-

 

Warrants exercised

 

 

(78,125

)

 

 

0.6000

 

Warrants expired/forfeited

 

 

-

 

 

 

-

 

Warrants outstanding - September 30, 2026

 

 

5,138,033

 

 

$

0.4723

 

Warrants exercisable - September 30, 2026

 

 

5,138,033

 

 

$

0.4723

 

 

 

Number of

 

 

Weighted-Average

 

 

 

Warrants

 

 

Exercise Price

 

 

 

 

 

​

 

 

 

​

Warrants outstanding - December 31, 2024

 

 

5,216,158

 

 

$

0.4742

 

Warrants issued

 

 

-

 

 

 

-

 

Warrants exercised

 

 

-

 

 

 

-

 

Warrants expired/forfeited

 

 

-

 

 

 

-

 

Warrants outstanding - September 30, 2025

 

 

5,216,158

 

 

$

0.4742

 

Warrants exercisable - September 30, 2025

 

 

5,216,158

 

 

$

0.4742

 

Summary of Changes in Fair Value of Warrants [Table Text Block]

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Beginning balance

 

$

2,256,802

 

 

$

1,793,999

 

 

$

1,828,677

 

 

$

1,532,067

 

Fair value change in warrants

 

 

(334,293

)

 

 

(142,304

)

 

 

93,832

 

 

 

119,628

 

Ending balance

 

$

1,922,509

 

 

$

1,651,695

 

 

$

1,922,509

 

 

$

1,651,695

 

Summary of Valuation Assumptions of Warrants [Table Text Block]

 

 

September 30,

 

 

December 31,

 

 

 

2026

 

 

2025

 

 

 

 

 

​

 

 

 

​

Expected dividend yield

 

 

0

%

 

 

0

%

Expected stock-price volatility

 

 

81.9 - 82.5

%

 

 

85.3 - 85.5

%

Risk-free interest rate

 

 

5.14

%

 

 

4.60

%

Stock price

 

$

1.1059

 

 

$

1.0240

 

Conversion price

 

$

0.6628 - 0.6977

 

 

$

0.6358 - 0.6693