Quarterly report [Sections 13 or 15(d)]

Share-based Compensation (Tables)

v3.26.1
Share-based Compensation (Tables)
3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Information about Incentive Plan

The following table contains information about the 2019 Plan as of March 31, 2026:

  

    Awards                 Awards  
    Reserved for     Awards     Awards     Available for  
    Issuance     Issued     Exercised     Grant  
2019 Plan(1)     1,651,429       1,114,676       194,240       536,753  
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 and related information for the period ended March 31, 2026:

    

                Weighted  
          Weighted     Average  
          Average     Contractual  
    Number of     Exercise     Term in  
    Options     Price     Years  
Outstanding at January 1, 2026     907,111     $ 2.94       7.03  
Granted     25,000       1.31       3.00  
Exercised                  
Forfeited     (83,748 )     3.56        
Cancelled                  
Expired                  
Outstanding at March 31, 2026     848,363     $ 2.83       6.47  
Exercisable at March 31, 2026     570,863     $ 2.33       6.64  
Schedule of Assumptions used in Share-based Compensation

    

    2026     2025  
Volatility     76.07 %     78.21 %
Risk-free interest rate     3.49 %     4.38 %
Dividend yield     0.0 %     0.0 %
Expected term     3.00 years       5.00 years  
Schedule of Restricted Stock Units Granted

The following table summarizes the Company’s restricted stock awards activity for the three months ended March 31, 2026:

   

          Weighted  
          Average  
    Number of     Grant Date  
    Units     Fair Value  
Outstanding at January 1, 2026     60,456     $ 2.41  
Granted     40,650       0.63  
Exercised and converted to common shares     (20,325 )     0.63  
Forfeited            
Outstanding at March 31, 2026     80,781     $ 1.96  
Exercisable at March 31, 2026     68,663     $ 1.84  
Schedule of Common Stock Warrants

The following table shows a summary of common stock warrants through March 31, 2026:

   

          Weighted     Weighted  
          Average     Average  
    Number of     Exercise     Contractual  
    Warrants     Price     Term in Years  
Outstanding at January 1, 2026     5,142,940     $ 5.11       1.93  
Granted                  
Exercised                  
Forfeited                  
Cancelled                  
Expired     (349,314 )     4.77        
Outstanding at March 31, 2026     4,793,626     $ 5.14       1.53  
Exercisable at March 31, 2026     4,793,626     $ 5.14       1.53