Quarterly report [Sections 13 or 15(d)]

Warrants (Tables)

v3.25.3
Warrants (Tables)
9 Months Ended
Sep. 30, 2025
Warrants  
Schedule of warrant activity
                       
    Warrants     Weighted-Average Remaining Contractual Life     Weighted-Average Exercise Price per Share  
Outstanding at December 31, 2024     25,734,752       1.16     $ 2.19  
Granted                  
Exercised     (1,462,000 )           0.01  
Expired     (121,809 )           3.60  
Forfeitures                  
Outstanding at September 30, 2025     24,150,943       2.85     $ 2.32  
                         
Exercisable at September 30, 2025     24,150,943       2.85     $ 2.32  
Schedule of assumptions
   
    May 13, 2025
Market Price   $0.65
Exercise Price   $0.57
Dividend Yield   %
Volatility   86.3%
Risk-free Interest Rate   4.1%
Expected Life of Warrants   5.00

 

The fair value of the outstanding Series A derivative warrants was determined by using the BSM option pricing model based on the following assumptions as of December 31, 2024:

    December 31, 2024
Market Price   $0.59
Exercise Price   $0.57
Dividend Yield   %
Volatility   101.6%
Risk-free Interest Rate   4.0%
Expected Life of Warrants   5.00

 

The fair value of the outstanding Series B derivative warrants, prior to their reclassification to equity, was determined by using the BSM option pricing model based on the following assumptions as of May 13, 2025:

    May 13, 2025
Market Price   $0.65
Exercise Price   $0.57
Dividend Yield   %
Volatility   68.9%
Risk-free Interest Rate   4.1%
Expected Life of Warrants   1.50

 

The fair value of the outstanding Series B derivative warrants was determined by using the BSM option pricing model based on the following assumptions as of December 31, 2024:

    December 31, 2024
Market Price   $0.59
Exercise Price   $0.57
Dividend Yield   %
Volatility   82.5%
Risk-free Interest Rate   4.0%
Expected Life of Warrants   1.50