Quarterly report [Sections 13 or 15(d)]

STOCK OPTIONS

v3.25.2
STOCK OPTIONS
 6 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
STOCK OPTIONS

10. STOCK OPTIONS

 

A summary of option activity for the six months ended June 30, 2025 is presented below.

 SCHEDULE OF STOCK OPTION ACTIVITY

                Weighted-        
          Weighted-     Average        
          Average     Remaining     Aggregate  
          Exercise     Contractual     Intrinsic  
    Options     Price     Life (Years)     Value  
                         
Outstanding at January 1, 2025     18,075     $ 127.61       4.22     $         -  
Granted     13,451       6.59       -       -  
Forfeited     (275 )     146.00       -       -  
Exercised     -       -       -       -  
Outstanding at June 30, 2025     31,251     $ 75.36       4.07     $ -  
                                 
Vested June 30, 2025     5,454     $ 279.47       3.07     $ -  
                                 
Exercisable at June 30, 2025     5,454     $ 279.47       3.07     $ -  

 

 

At June 30, 2025, the intrinsic value of the outstanding options was $0.

 

The total stock compensation expense recognized relating to the vesting of stock options for the three and six months ended June 30, 2025 and 2024 amounted to $133 and $206, and $250 and $429, respectively. As of June 30, 2025, the total unrecognized share-based compensation expense was $608, which is expected to be recognized as part of operating expense through September 2027.

 

The fair value of share option award is estimated using the Black-Scholes option pricing method based on the following weighted-average assumptions:

 

    Six Months Ended June 30,  
    2025     2024  
Risk-free interest rate     4.46 %     4.62 %
Average expected term     5 years       5 years  
Expected volatility     144.13 %     270.57 %
Expected dividend yield     -       -  

 

The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of measurement corresponding with the expected term of the share option award; the expected term represents the weighted-average period of time that share option awards granted are expected to be outstanding giving consideration to vesting schedules and historical participant exercise behavior; the expected volatility is based upon historical volatility of the Company’s common stock; and the expected dividend yield is based on the fact that the Company has not paid dividends in the past and does not expect to pay dividends in the future.