Annual report [Section 13 and 15(d), not S-K Item 405]

Stockholders??? Equity (Tables)

v3.25.1
Stockholders’ Equity (Tables)
 12 Months Ended
Dec. 31, 2024
Stockholders’ Equity [Line Items]  
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     1.93 %
Expected dividend yield    
-
 %
Expected volatility     144 %
Term      5 years  
Fair value of common stock   $ 1.41  
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, 2024 are:

 

    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     8,916,697       0.86       -       -       151,290  
Exercised     -       -       -       -       (152,957 )
Cancelled/Expired     (2,293 )     53.64       (3,333 )     39.60       (41,722 )
Balance at December 31, 2024     8,925,798     $ 0.92       -     $ -       122,274  
Exercisable at December 31, 2024     8,925,798     $ 0.92       -     $ -       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, 2023 are:

 

    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, 2022     104,515     $ 20.25       7,891     $ 48.75       160,653  
Granted    
-
      
-
      
-
      
-
       95,624  
Exercised     (54,872 )     9.75      
-
      
-
       (86,003 )
Cancelled/Expired     (38,249 )     23.73       (4,558 )     55.43       (4,611 )
Balance at December 31, 2023     11,394     $ 58.72       3,333     $ 39.60       165,663  
Exercisable at December 31, 2023     11,394     $ 58.72       3,333     $ 39.60       165,663  
Schedule of Outstanding Warrants
    For the years ended  
    December 31,  
    2024     2023  
Stock-based compensation expense   $
    -
     $ 361,363  

 

Stock-based compensation expense categorized by the equity components for the years ended December 31, 2024 and 2023 is as follows:

 

    For the years ended  
    December 31,  
    2024     2023  
Common stock   $
       -
     $ 361,363  
Total   $
-
     $ 361,363  
Warrant [Member]  
Stockholders’ Equity [Line Items]  
Schedule of Company’s Outstanding Warrants and Options

The Company’s outstanding warrants 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     8,925,798       4.55     $ 0.92     8,925,798   $ 0.95     $ 7,400,859