Share-based Compensation (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Share-Based Payment Arrangement [Abstract] |
|
| Schedule of Information about Incentive Plan |
The
following table contains information about the 2019 Plan as of December 31, 2025:
Schedule of Information about Incentive Plan
| |
|
Awards |
|
|
|
|
|
|
|
|
Awards |
|
| |
|
Reserved for |
|
|
Awards |
|
|
Awards |
|
|
Available for |
|
| |
|
Issuance |
|
|
Issued |
|
|
Exercised |
|
|
Grant |
|
| 2019 Plan(1) |
|
|
1,651,429 |
|
|
|
1,132,774 |
|
|
|
173,915 |
|
|
|
518,655 |
|
| Awards issued in excess of 2019 Plan(2) |
|
|
- |
|
|
|
100,821 |
|
|
|
92,113 |
|
|
|
- |
|
| (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 for the two years ended December 31, 2025:
Schedule of Incentive Stock Option Activity
| |
|
|
|
|
|
|
|
Weighted |
|
| |
|
|
|
|
Weighted |
|
|
Average |
|
| |
|
|
|
|
Average |
|
|
Contractual |
|
| |
|
Number of |
|
|
Exercise |
|
|
Term in |
|
| |
|
Options |
|
|
Price |
|
|
Years |
|
| Outstanding at January 1, 2024 |
|
|
560,650 |
|
|
$ |
2.35 |
|
|
|
7.95 |
|
| Granted |
|
|
172,000 |
|
|
|
2.68 |
|
|
|
10.00 |
|
| Exercised |
|
|
(90,860 |
) |
|
|
1.01 |
|
|
|
— |
|
| Forfeited |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Cancelled |
|
|
(39,107 |
) |
|
|
1.01 |
|
|
|
— |
|
| Expired |
|
|
(14,286 |
) |
|
|
5.25 |
|
|
|
— |
|
| Outstanding at December 31, 2024 |
|
|
588,397 |
|
|
|
2.67 |
|
|
|
7.81 |
|
| Granted |
|
|
400,000 |
|
|
|
3.26 |
|
|
|
8.13 |
|
| Exercised |
|
|
(6,825 |
) |
|
|
2.04 |
|
|
|
— |
|
| Forfeited |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Cancelled |
|
|
(60,175 |
) |
|
|
2.01 |
|
|
|
— |
|
| Expired |
|
|
(14,286 |
) |
|
|
5.25 |
|
|
|
— |
|
| Outstanding at December 31, 2025 |
|
|
907,111 |
|
|
$ |
2.94 |
|
|
|
7.03 |
|
| Exercisable at December 31, 2025 |
|
|
515,863 |
|
|
$ |
2.38 |
|
|
|
6.90 |
|
|
| Schedule of Assumptions used in Share-based Compensation |
Schedule of Assumptions used in Share-based Compensation
| |
|
2025 |
|
|
2024 |
|
| Volatility |
|
|
76.26-108.75 |
% |
|
|
277.56-279.29 |
% |
| Risk-free
interest rate |
|
|
3.83-4.38 |
% |
|
|
3.44-3.67 |
% |
| Dividend
yield |
|
|
0.0 |
% |
|
|
0.0 |
% |
| Expected
term |
|
|
5.00-5.5
years |
|
|
|
5.00
years |
|
|
| Schedule of Restricted Stock Units Granted |
The
following table summarizes the Company’s restricted stock awards activity for the year ended December 31, 2025:
Schedule of Restricted Stock Units Granted
| |
|
Number of |
|
|
Weighted Average Grant Date
|
|
| |
|
Units |
|
|
Fair Value |
|
| Outstanding at December 31, 2023 |
|
|
64,562 |
|
|
$ |
1.82 |
|
| Granted |
|
|
57,972 |
|
|
|
2.46 |
|
| Exercised and converted to common shares |
|
|
(62,910 |
) |
|
|
2.08 |
|
| Forfeited |
|
|
(3,750 |
) |
|
|
2.30 |
|
| Outstanding at December 31, 2024 |
|
|
55,874 |
|
|
|
2.16 |
|
| Granted |
|
|
45,198 |
|
|
|
3.57 |
|
| Exercised and converted to common shares |
|
|
(39,116 |
) |
|
|
3.39 |
|
| Forfeited |
|
|
(1,500 |
) |
|
|
2.72 |
|
| Outstanding at December 31, 2025 |
|
|
60,456 |
|
|
$ |
2.41 |
|
| Exercisable at December 31, 2025 |
|
|
24,962 |
|
|
$ |
2.62 |
|
|
| Schedule of Common Stock Warrants |
The
following table shows a summary of common stock warrants for the years ended December 31, 2025 and 2024.
Schedule of Common Stock Warrants
| |
|
|
|
|
Weighted |
|
|
Weighted |
|
| |
|
|
|
|
Average |
|
|
Average |
|
| |
|
Number
of |
|
|
Exercise |
|
|
Contractual |
|
| |
|
Warrants |
|
|
Price |
|
|
Term
in Years |
|
| Outstanding
at December 31, 2023 |
|
|
3,442,904 |
|
|
|
5.41 |
|
|
|
2.87 |
|
| Warrants
– 2021 IPO(1) |
|
|
387,750 |
|
|
|
5.50 |
|
|
|
2.99 |
|
| Outstanding
at January 1, 2024 (corrected) |
|
|
3,830,654 |
|
|
|
5.42 |
|
|
|
2.88 |
|
| Granted |
|
|
947,792 |
|
|
|
4.18 |
|
|
|
5.00 |
|
| Exercised |
|
|
(5,439 |
) |
|
|
2.80 |
|
|
|
— |
|
| Forfeited |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Cancelled |
|
|
(7,802 |
) |
|
|
2.80 |
|
|
|
— |
|
| Expired |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Outstanding
at December 31, 2024 |
|
|
4,765,205 |
|
|
|
5.18 |
|
|
|
2.42 |
|
| Granted |
|
|
387,392 |
|
|
|
4.17 |
|
|
|
5.00 |
|
| Exercised |
|
|
—
|
|
|
|
— |
|
|
|
— |
|
| Forfeited |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Cancelled |
|
|
(9,657 |
) |
|
|
2.80 |
|
|
|
— |
|
| Expired |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Outstanding
at December 31, 2025 |
|
|
5,142,940 |
|
|
$ |
5.11 |
|
|
|
1.93 |
|
| Exercisable
at December 31, 2025 |
|
|
5,142,940 |
|
|
$ |
5.11 |
|
|
|
1.93 |
|
| |
(1) |
The
warrants outstanding have been corrected to reflect 387,750 additional warrants related to the December 27, 2021 unit offering not
previously included in the prior year warrant schedule. |
|