| 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 year ended December 31, 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 |
|
|
50,818,459 |
|
|
|
0.31 |
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
| | Exercised |
|
|
(5,676,000 |
) |
|
|
0.31 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
| | Cancelled/Expired |
|
|
(3,070 |
) |
|
|
60.00 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
| | Balance at December 31, 2025 |
|
|
54,055,187 |
|
|
$ |
0.32 |
|
|
|
- |
|
|
$ |
- |
|
|
|
122,274 |
| | Exercisable at December 31, 2025 |
|
|
35,089,096 |
|
|
$ |
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 year ended December 31, 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 |
|
|
8,906,697 |
|
|
|
0.86 |
|
|
|
- |
|
|
|
- |
|
|
|
151,290 |
| | Exercised |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(152,957 |
) | | Cancelled/Expired |
|
|
(2,293 |
) |
|
|
53.64 |
|
|
|
(3,333 |
) |
|
|
39.60 |
|
|
|
(41,722 |
) | | Balance at December 31, 2024 |
|
|
8,915,798 |
|
|
$ |
0.92 |
|
|
|
- |
|
|
$ |
- |
|
|
|
122,274 |
| | Exercisable at December 31, 2024 |
|
|
8,915,798 |
|
|
$ |
0.92 |
|
|
|
- |
|
|
$ |
- |
|
|
|
122,274 |
|
|
| Schedule of Company’s Outstanding Warrants |
The Company’s outstanding warrants at December 31, 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 |
|
|
54,055,187 |
|
|
|
3.79 |
|
|
$ |
0.32 |
|
|
35,089,096 |
|
$ |
0.32 |
|
|
|
-
|
|
The Company’s outstanding warrants and options at December 31, 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 |
|
| $0.86 – $60.00 |
|
|
8,915,798 |
|
|
|
4.55 |
|
|
$ |
0.92 |
|
|
8,915,798 |
|
$ |
0.95 |
|
|
$ |
7,400,859 |
|
|
| Schedule of Stock-based Compensation Expense |
As of December 31, 2025 and 2024, there was no unrecognized expense for unvested stock options and restricted stock awards.
| |
| For the years ended |
|
| |
| December 31, |
|
| |
| 2025 |
|
| 2024 |
|
| Stock-based compensation expense |
|
$ |
61,203 |
|
|
$ |
-
|
|
Stock-based compensation expense categorized by the equity components for the years ended December 31, 2025 and 2024 is as follows:
| |
| For the years ended |
|
| |
| December 31, |
|
| |
| 2025 |
|
| 2024 |
|
| Common stock |
|
$ |
61,203 |
|
|
$ |
-
|
| | Total |
|
$ |
61,203 |
|
|
$ |
- |
|
|