Quarterly report [Sections 13 or 15(d)]

Share-based Compensation (Tables)

v3.26.1
Share-based Compensation (Tables)
6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Information about Incentive Plan

The following table contains information about the 2019 Plan as of June 30, 2026:

 

    Awards                 Awards  
    Reserved for     Awards     Awards     Available for  
    Issuance     Issued     Exercised     Grant  
2019 Plan(1)     1,651,429       1,262,135       194,240       389,294  
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 six months ended June 30, 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     185,000       0.74       9.32  
Exercised                  
Forfeited     (83,748 )     3.56        
Outstanding at June 30, 2026     1,008,363     $ 2.49       6.79  
Exercisable at June 30, 2026     600,863     $ 2.33       6.52  
Schedule of Assumptions used in Share-based Compensation
    2026     2025  
Volatility     76.07-80.42 %     78.21 %
Risk-free interest rate     3.49-3.94 %     4.38 %
Dividend yield     0.0 %     0.0 %
Expected term     3.00-5.62 years       5.00 years  
Schedule of Restricted Stock Units Granted

The following table summarizes the Company’s restricted stock awards activity for the six months ended June 30, 2026:

 

          Weighted  
          Average  
    Number of     Grant Date  
    Units     Fair Value  
Outstanding at January 1, 2026     60,456     $ 2.41  
Granted     51,934       0.92  
Exercised and converted to common shares     (20,325 )     1.40  
Forfeited     (23,825 )     0.94  
Outstanding at June 30, 2026     68,240     $ 2.09  
Exercisable at June 30, 2026     62,116     $ 2.02  
Schedule of Common Stock Warrants

The following table shows a summary of common stock warrants through June 30, 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     11,975,071       0.79       5.00  
Expired     (349,314 )     4.77        
Outstanding at June 30, 2026     16,768,697     $ 2.03       3.80  
Exercisable at June 30, 2026     16,768,697     $ 2.03       3.80