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

Warrant Liability (Tables)

v3.26.1
Warrant Liability (Tables)
12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Warrant Liability

The warrants outstanding and fair values at each of the respective valuation dates are summarized below:

 

Warrant Liability  

Warrants

Outstanding

   

Fair Value

per Share

    Fair Value  
Fair value as of 12/31/2023     71,019     $ 2.05     $ 146  
Exercise of warrants     (13,242 )             (12 )
Change in fair value of warrant liability                   (16 )
Fair value as of 12/31/2024     57,777     $ 2.04     $ 118  
Change in fair value of warrant liability                   (118 )
Fair value as of 12/31/2025     57,777     $ 0.02     $  
Schedule of Assumptions Used in Warrant Liability

The following assumptions were used to calculate the warrant liability as of December 31, 2025 and 2024, respectively:

 

    2025     2024  
Exercise price   $ 2.80 to $5.25     $ 2.80 to $5.25  
Share price   $ 1.57 - $2.98     $ 2.16 - $4.46  
Volatility     52.78% - 84.02 %     92.34% - 283.32 %
Risk-free interest rate     3.48% - 4.41 %     3.66% - 5.09 %
Dividend yield     0.0 %     0.0 %
Expected term     0.09 to 1.43 years       0.073 to 2.43 years