Quarterly report [Sections 13 or 15(d)]

Stockholders??? Equity (Tables)

v3.25.2
Stockholders’ Equity (Tables)
 6 Months Ended
Jun. 30, 2025
Stockholders’ Equity [Abstract]  
Schedule of Fair Values at the Commitment Date for the Warrants

The fair values at the commitment date for the warrants were based upon the following management assumptions as of the date of issuance:

 

    Issuance
date		  
Risk-free interest rate     4.40 %
Expected dividend yield    
-
 %
Expected volatility     148 %
Term     5 years  
Fair value of common stock   $ 1.83  
Schedule of Warrant and Stock Option Grants with Time-Based Vesting

The number of shares of the Company’s common stock that are issuable pursuant to warrant and stock option grants with time-based vesting as of and for the six months ended June 30, 2025 were:

 

    Warrant Grants     Stock Option Grants     Restricted
Stock
Units		  
    Number of
shares
subject to
warrants		     Weighted-
average
exercise
price per
share		     Number of
shares
subject to
options		     Weighted-
average
exercise
price per
share		     Number of
shares
subject to
restricted
stock units		  
Balance at December 31, 2024     8,915,798     $ 0.92      
-
     $
-
       122,274  
Granted     34,992,009       0.41      
-
      
-
      
-
  
Exercised    
-
      
-
      
-
      
-
      
-
  
Cancelled/Expired    
-
      
-
      
-
      
-
      
-
  
Balance at June 30, 2025     43,907,807     $ 0.41      
-
     $
-
       122,274  
Exercisable at June 30, 2025     29,027,608     $ 0.41      
-
     $
-
       122,274  

 

The number of shares of the Company’s common stock that are issuable pursuant to warrant and stock option grants with time-based vesting as of and for the six months ended June 30, 2024 were:

 

    Warrant Grants     Stock Option Grants     Restricted
Stock
Units		  
    Number of
shares
subject to
warrants		     Weighted-
average
exercise
price per
share		     Number of
shares
subject to
options		     Weighted-
average
exercise
price per
share		     Number of
shares
subject to
restricted
stock units		  
Balance at December 31, 2023     11,394     $ 58.72       3,333     $ 39.60       165,663  
Granted    
-
      
-
      
-
      
-
       88,362  
Exercised    
-
      
-
      
-
      
-
       (90,029 )
Cancelled/Expired     (2,293 )     53.64       -      
-
      
-
  
Balance at June 30, 2024     9,101     $ 60.00       3,333     $ 39.60       163,996  
Exercisable at June 30, 2024     9,101     $ 60.00       3,333     $ 39.60       163,996  
Schedule of Company’s Outstanding Warrants

The Company’s outstanding warrants at June 30, 2025 are as follows:

 

Warrants Outstanding   Warrants Exercisable
Exercise Price
Range		   Number
Outstanding		     Weighted Average
Remaining
Contractual Life
(in years)		     Weighted
Average
Exercise Price		     Number
Exercisable		   Weighted
Average
Exercise Price		     Intrinsic
Value		  
$0.35 - $60.00     43,907,807       4.31     $ 0.41     29,027,608   $ 0.41       1,206,830  

The Company’s outstanding warrants and options at June 30, 2024 are as follows:

 

Warrants Outstanding     Warrants Exercisable  
Exercise Price
Range		     Number
Outstanding		     Weighted Average
Remaining
Contractual Life
(in years)		     Weighted
Average
Exercise Price		     Number
Exercisable		     Weighted
Average
Exercise Price		     Intrinsic 
Value		  
$ 60.00       9,101       1.51     $ 60.00       9,101     $ 60.00       -  

 

Options Outstanding     Options Exercisable  
Exercise Price
Range		     Number
Outstanding		     Weighted Average
Remaining
Contractual Life
(in years)		     Weighted
Average
Exercise Price		     Number
Exercisable		     Weighted
Average
Exercise Price		     Intrinsic
 Value		  
$ 39.60       3,333       0.41     $ 39.60       3,333     $ 39.60                               -