Stockholders’ Equity (Tables)
|
3 Months Ended |
Mar. 31, 2025 |
|---|
| Stockholders’ Equity [Abstract] |
|
| Schedule of Warrants Activity |
A summary of our Warrants activity
and related information is as follows:
| |
| Number of
Shares
Under
Warrant |
|
| Weighted
Average
Exercise
Price |
|
| Weighted
Average
Remaining
Contractual
Life |
|
| Balance as of January 1, 2025 |
| |
26,490,110 |
|
| $ |
1.70 |
|
| |
3.84 |
|
| Exercised |
| |
(1,105,500 |
) |
| |
0.73 |
|
| |
|
|
| Balance as of March 31, 2025 |
| |
25,384,610 |
|
| $ |
1.41 |
|
| |
3.62 |
|
| Vested and Exercisable as of March 31, 2025 |
| |
25,250,876 |
|
| $ |
1.41 |
|
| |
3.61 |
|
|
| Schedule of Assumptions Used in the Black-Scholes Model |
The assumptions used in the
Monte Carlo simulation and Black-Scholes Model are set forth in the table below.
| |
|
Three Months
Ended
March 31,
2025 |
|
| Stock price |
|
|
$2.11- 2.69 |
|
| Risk-free interest rate |
|
|
4.42-4.65% |
|
| Volatility |
|
|
59.05-88.69% |
|
| Expected life in years |
|
|
5.00-5.77 |
|
| Dividend yield |
|
|
0.00% |
|
|
| Schedule of Option Activity |
A summary of our Option activity
and related information is as follows:
| |
| Number of
Shares
Under
Option |
|
| Weighted
Average
Exercise
Price |
|
| Weighted
Average
Remaining
Contractual
Life |
|
| Balance as of January 1, 2025 |
| |
4,289,359 |
|
| $ |
3.70 |
|
| |
7.59 |
|
| Granted |
| |
5,090,494 |
|
| $ |
2.50 |
|
| |
|
|
| Forfeited |
| |
(30,542 |
) |
| $ |
1.45 |
|
| |
|
|
| Balance as of March 31, 2025 |
| |
9,349,311 |
|
| $ |
3.05 |
|
| |
7.13 |
|
| Vested and Exercisable as of March 31, 2025 |
| |
2,824,117 |
|
| $ |
4.60 |
|
| |
6.94 |
|
|
| Schedule of Stock-Based Compensation Expense for Stock Options |
Total stock-based compensation
expense for stock options for the three months ended March 31, 2025 and 2024 is as follows:
| |
|
Three Months Ended
March 31, |
|
| |
|
2025 |
|
|
2024 |
|
| General and administrative |
|
$ |
788,282 |
|
|
$ |
71,583 |
|
| Sales and marketing |
|
|
(1,221 |
) |
|
|
71,554 |
|
| Research and development |
|
|
69,136 |
|
|
|
40,316 |
|
| Cost of goods sold |
|
|
68,696 |
|
|
|
17,940 |
|
| Total stock-based expense related to options |
|
$ |
924,893 |
|
|
$ |
201,393 |
|
Total stock-based compensation
expense for RSUs for the three months ended March 31, 2025 and 2024 is as follows:
| |
|
Three Months Ended
March 31, |
|
| |
|
2025 |
|
|
2024 |
|
| General and administrative |
|
$ |
286,313 |
|
|
$ |
58,157 |
|
| Sales and marketing |
|
|
154,421 |
|
|
|
9,499 |
|
| Research and development |
|
|
50,793 |
|
|
|
504 |
|
| Cost of goods sold |
|
|
65,305 |
|
|
|
- |
|
| Total stock-based expense related to RSUs |
|
$ |
556,832 |
|
|
$ |
68,160 |
|
|
| Schedule of Restricted Stock Unit (RSUs) Activity |
A summary of our RSUs activity
and related information is as follows:
| |
| RSUs |
|
| Weighted
Average
Grant Date
Fair Value |
|
| Weighted
Average
Vesting
Period
(Years) |
|
| Unvested balance at January 1, 2025 |
| |
252,417 |
|
| $ |
0.68 |
|
| |
0.75 |
|
| Granted |
| |
1,476,306 |
|
| $ |
2.22 |
|
| |
|
|
| Vested |
| |
(270,123 |
) |
| $ |
1.74 |
|
| |
|
|
| Unvested balance at March 31, 2025 |
| |
1,458,600 |
|
| $ |
2.04 |
|
| |
1.94 |
|
|