Quarterly report [Sections 13 or 15(d)]

Stockholders??? Equity (Tables)

v3.25.3
Stockholders’ Equity (Tables)
 9 Months Ended
Sep. 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 detailed above were based upon the following management assumptions as of the date of issuance:

 

    Issuance
date		  
Risk-free interest rate     3.62 - 4.40 %
Expected dividend yield     - %
Expected volatility     125 - 148 %
Term     5 years  
Fair value of common stock   $ 0.30 - 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 nine months ended September 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     51,080,568       0.31      
-
      
-
      
-
  
Exercised     (2,064,000 )     (0.35 )    
-
      
-
      
-
  
Cancelled/Expired    
-
      
 
      
-
      
-
      
-
  
Balance at September 30, 2025     57,932,366     $ 0.32      
-
     $
-
       122,274  
Exercisable at September 30, 2025     38,966,277     $ 0.33      
-
     $
-
       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 nine months ended September 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     4,887,118       1.53      
-
      
-
       123,690  
Exercised    
-
      
-
      
-
      
-
       (125,357 )
Cancelled/Expired     (2,293 )     53.64      
-
      
-
       (41,722 )
Balance at September 30, 2024     4,896,219     $ 1.64       3,333     $ 39.60       122,274  
Exercisable at September 30, 2024     4,896,219     $ 1.64       3,333     $ 39.60       122,274  
Schedule of Company’s Outstanding Warrants

The Company’s outstanding warrants at September 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		  
$0.31 - $60.00     57,932,366       4.03     $ 0.32     38,966,277   $ 0.33       -  

The Company’s outstanding warrants and options at September 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		  
$1.43 - $60.00     4,896,219       4.79     $ 1.64     4,896,219   $ 1.64               -  

 

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       0.16     $ 39.60     3,333   $ 39.60       -