Quarterly report [Sections 13 or 15(d)]

Share-based Compensation (Tables)

v3.25.2
Share-based Compensation (Tables)
6 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Information about Incentive Plan

The following table contains information about the 2019 Plan as of June 30, 2025:

 

    Awards Reserved     Awards Issued &     Awards     Awards Available  
    for Issuance     Outstanding     Exercised     for Grant  
2019 Plan(1)     1,651,429       1,104,407       161,422       547,022  
Awards issued outside of 2019 Plan(2)     -       100,821       74,705       -  

 

(1) Includes incentive stock options and restricted stock units discussed below.
(2) Includes shares of restricted common stock granted outside of the 2019 Plan to our Chief Executive Officer, Adam Levy.
Schedule of Incentive Stock Option Activity

The following table summarizes the Company’s incentive stock option activity and related information for the period ended June 30, 2025:

 

                Weighted  
          Weighted     Average  
          Average     Contractual  
    Number of     Exercise     Term in  
    Options     Price     Years  
Outstanding at January 1, 2025     588,397     $ 2.67       7.81  
Granted     370,000       3.34       7.97  
Exercised     (6,458 )     2.05        
Forfeited                  
Cancelled     (58,542 )     2.01        
Expired     (14,286 )     5.25        
Outstanding at June 30, 2025     879,111     $ 2.96       7.45  
Exercisable at June 30, 2025     374,111     $ 2.13       7.30  
Schedule of Assumptions used in Share-based Compensation

The following assumptions were used to calculate share-based compensation expense for the six months ended June 30, 2025 and 2024:

 

    2025     2024  
Volatility     78.21 %     258.01 %
Risk-free interest rate     4.38 %     4.42 %
Dividend yield     0.0 %     0 %
Expected term      5.00 years        5.00 years  
Schedule of Restricted Stock Units Granted

          Weighted  
          Average  
    Number of     Grant Date  
    Units     Fair Value  
Outstanding at January 1, 2025     55,874     $ 2.16  
Granted     45,198       3.57  
Exercised and converted to common shares     (9,582 )     4.11  
Forfeited     (1,500 )     2.72  
Outstanding at June 30, 2025     89,990     $ 2.65  
Exercisable at June 30, 2025     36,432     $ 2.66  
Schedule of Common Stock Warrants

The following table shows a summary of common stock warrants through June 30, 2025:

 

          Weighted     Weighted  
          Average     Average  
    Number of     Exercise     Contractual  
    Warrants     Price     Term in Years  
Outstanding at January 1, 2025     4,765,205     $ 5.18       2.42  
Granted                  
Exercised                  
Forfeited                  
Cancelled                  
Expired                  
Outstanding at June 30, 2025     4,765,205     $ 5.18       1.93  
Exercisable at June 30, 2025     4,765,205     $ 5.18       1.93