Quarterly report [Sections 13 or 15(d)]

Stockholders' Deficit (Tables)

v3.25.3
Stockholders' Deficit (Tables)
9 Months Ended
Sep. 30, 2025
Stockholders Equity Note [Abstract]  
Summary of assumptions used to value the warrants

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

 

 

September 30, 2025

 

 

December 31, 2024

 

Stock price

 

$

0.01

 

 

$

0.01

 

Exercise price

 

$0.47 - $0.50

 

 

$0.47 - $0.50

 

Expected term

 

2.28-2.32 years

 

 

3.03-3.07 years

 

Risk-free rate

 

 

3.60

%

 

 

4.27

%

Dividend yield

 

 

 

 

Volatility

 

512.41% - 517.15%

 

 

444.84%-447.87%

 

Summary of outstanding warrants

A summary of outstanding warrants as of September 30, 2025 and December 31, 2024 is presented below:

 

 

 

September 30, 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

 

 

(3,625,000

)

 

 

0.90

 

 

 

(107,391

)

 

 

7.21

 

Warrants outstanding, end of period

 

 

1,000,000

 

 

$

0.49

 

 

 

4,625,000

 

 

$

0.81

 

Warrants exercisable end of period

 

 

1,000,000

 

 

$

0.49

 

 

 

4,625,000

 

 

$

0.81

 

Summary of stock option activity

A summary of outstanding stock options as of September 30, 2025 and December 31, 2024 is presented below:

 

 

 

September 30, 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

 

 

(672,542

)

 

$

2.88

 

 

 

(296,597

)

 

$

0.34

 

Options outstanding, end of period

 

 

4,614,742

 

 

$

3.64

 

 

 

5,287,284

 

 

$

3.54

 

Options exercisable, end of period

 

 

4,542,520

 

 

$

3.63

 

 

 

4,819,920

 

 

$

3.59

 

Options available for future grant

 

 

930,000

 

 

 

 

 

 

419,167