Quarterly report [Sections 13 or 15(d)]

Stockholders' Deficit (Tables)

v3.25.1
Stockholders' Deficit (Tables)
3 Months Ended
Mar. 31, 2025
Stockholders Equity Note [Abstract]  
Summary of assumptions used to value the warrants

The following table presents the assumptions used to value the warrants:

 

 

March 31, 2025

 

 

December 31, 2024

 

Stock price

 

$

0.02

 

 

$

0.01

 

Exercise price

 

$0.47 - $0.50

 

 

$0.47 - $0.50

 

Expected term

 

2.78-2.82 years

 

 

3.03-3.07 years

 

Risk-free rate

 

 

3.89

%

 

 

4.27

%

Dividend yield

 

 

 

 

Volatility

 

472.58% - 475.72%

 

 

444.84%-447.87%

 

Summary of outstanding warrants

A summary of outstanding warrants as of March 31, 2025 and December 31, 2024 is presented below:

 

 

 

March 31, 2025

 

 

December 31, 2024

 

 

 

Number of
Warrants

 

 

Weighted‑
Average
Exercise
Price

 

 

Number of
Warrants

 

 

Weighted‑
Average
Exercise
Price

 

Warrants outstanding, beginning of period

 

 

4,625,000

 

 

$

0.81

 

 

 

4,732,391

 

 

$

0.95

 

Granted

 

 

 

 

 

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

 

 

 

Cancelled, forfeited or expired

 

 

 

 

 

 

 

 

(107,391

)

 

 

7.21

 

Warrants outstanding, end of period

 

 

4,625,000

 

 

$

0.81

 

 

 

4,625,000

 

 

$

0.81

 

Warrants exercisable end of period

 

 

4,625,000

 

 

$

0.81

 

 

 

4,625,000

 

 

$

0.81

 

Summary of stock option activity

A summary of outstanding stock options as of March 31, 2025 and December 31, 2024 is presented below:

 

 

 

March 31, 2025

 

 

December 31, 2024

 

 

 

Number of
Options

 

 

Weighted‑
Average
Exercise
Price

 

 

Number of
Options

 

 

Weighted‑
Average
Exercise
Price

 

Options outstanding, beginning of period

 

 

5,287,284

 

 

$

3.54

 

 

 

3,223,881

 

 

$

5.97

 

Granted or deemed granted

 

 

 

 

$

 

 

 

2,360,000

 

 

$

0.15

 

Exercised

 

 

 

 

$

 

 

 

 

 

$

 

Cancelled, forfeited and expired

 

 

(646,502

)

 

$

2.71

 

 

 

(296,597

)

 

$

0.34

 

Options outstanding, end of period

 

 

4,640,782

 

 

$

2.97

 

 

 

5,287,284

 

 

$

3.54

 

Options exercisable, end of period

 

 

4,042,893

 

 

$

3.95

 

 

 

4,819,920

 

 

$

3.59

 

Options available for future grant

 

 

905,000

 

 

 

 

 

 

419,167