SHARE-BASED COMPENSATION (Tables)
|
9 Months Ended |
Sep. 30, 2025 |
|---|
| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
| SCHEDULE OF STOCK VALUATION ASSUMPTIONS |
The
Company uses the Black-Scholes option pricing model to estimate the fair value of the option awards. The table below summarizes the resulting
weighted average inputs used to calculate the estimated fair value of options awarded for the nine months ended September 30, 2025 and
2024.
SCHEDULE OF STOCK VALUATION ASSUMPTIONS
| | |
Nine Months Ended September 30, 2025 | | |
Nine Months Ended September 30, 2024 | |
| Risk-free interest rate | |
| 3.98 to 4.11 | % | |
| 1.80 | |
| Expected dividend yield | |
| — | | |
| — | |
| Expected term | |
| 5 years | | |
| 5 years | |
| Expected volatility | |
| 50.92 to 52.84 | % | |
| 53.43 | |
|
| SCHEDULE OF WARRANTS OUTSTANDING |
For
the three months ended September 30, 2025, warrant activity of the Company are as follows:
SCHEDULE OF WARRANTS OUTSTANDING
| | |
Number of shares | | |
Weighted Average Exercise Price | | |
Weighted average remaining contractual life (in years) | | |
Aggregate Intrinsic Value | |
| Outstanding at January 1, 2025 | |
| 350,000 | | |
$ | 1.06 | | |
| 7.07 | | |
$ | — | |
| Issued | |
| — | | |
| — | | |
| — | | |
| — | |
| Exercised | |
| — | | |
| — | | |
| — | | |
| — | |
| Expired/Forfeited | |
| — | | |
| — | | |
| — | | |
| — | |
| Outstanding at September 30, 2025 | |
| 350,000 | | |
$ | 1.06 | | |
| 6.32 | | |
$ | 220,500 | |
For
the three months ended September 30, 2024, warrant activity of the Company are as follows:
| | |
Number of shares | | |
Weighted Average Exercise Price | | |
Weighted average remaining contractual life (in years) | | |
Aggregate Intrinsic Value | |
| Outstanding at January 1, 2024 | |
| 350,000 | | |
$ | 1.06 | | |
| 8.07 | | |
$ | — | |
| Issued | |
| — | | |
| — | | |
| — | | |
| — | |
| Exercised | |
| — | | |
| — | | |
| — | | |
| — | |
| Expired/Forfeited | |
| — | | |
| — | | |
| — | | |
| — | |
| Outstanding at September 30, 2024 | |
| 350,000 | | |
$ | 1.06 | | |
| 7.57 | | |
$ | 122,500 | |
| | |
| | | |
| | | |
| | | |
| | |
| Vested and exercisable September 30, 2024 | |
| — | | |
| — | | |
| — | | |
| — | |
|
| Time Based Options [Member] |
|
| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
| SCHEDULE OF STOCK OPTION ACTIVITY |
For
the nine months ended September 30, 2025, stock option activity for time-based options of the Company is as follows:
SCHEDULE OF STOCK OPTION ACTIVITY
| | |
Number of Time-Based Share Options | | |
Weighted Average Exercise Price | | |
Weighted Average Remaining Contractual Life (in years) | | |
Aggregate Intrinsic Value | |
| Outstanding at January 1, 2025 | |
| 550,711 | | |
$ | 1.36 | | |
| 7.87 | | |
$ | 7,390 | |
| Issued | |
| 608,500 | | |
| 1.56 | | |
| 9.37 | | |
| 251,550 | |
| Exercised | |
| — | | |
| — | | |
| — | | |
| — | |
| Expired/Forfeited | |
| — | | |
| — | | |
| — | | |
| — | |
| Outstanding at September 30, 2025 | |
| 1,159,211 | | |
$ | 1.47 | | |
| 8.30 | | |
$ | 561,441 | |
| | |
| | | |
| | | |
| | | |
| | |
| Vested and exercisable September 30, 2025 | |
| 349,753 | | |
$ | 1.52 | | |
| 6.79 | | |
$ | 157,091 | |
For
the nine months ended September 30, 2024, stock option activity for time-based options of the Company is as follows:
| | |
Number of Time-Based Share Options | | |
Weighted Average Exercise Price | | |
Weighted Average Remaining Contractual Life (in years) | | |
Aggregate Intrinsic Value | |
| Outstanding at January 1, 2024 | |
| 366,615 | | |
$ | 1.82 | | |
| 8.14 | | |
$ | 15,686 | |
| Issued | |
| 201,000 | | |
| 0.49 | | |
| 9.15 | | |
| — | |
| Exercised | |
| — | | |
| — | | |
| — | | |
| — | |
| Expired/Forfeited | |
| (16,904 | ) | |
| 1.75 | | |
| 7.42 | | |
| — | |
| Outstanding at September 30, 2024 | |
| 550,711 | | |
$ | 1.36 | | |
| 8.13 | | |
$ | — | |
| | |
| | | |
| | | |
| | | |
| | |
| Vested and exercisable September 30, 2024 | |
| 286,086 | | |
$ | 1.75 | | |
| 7.42 | | |
$ | — | |
|
| Performance Based Options [Member] |
|
| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
| SCHEDULE OF STOCK OPTION ACTIVITY |
For
the nine months ended September 30, 2025, stock option activity for performance-based options of the Company is as follows:
SCHEDULE OF STOCK OPTION ACTIVITY
| | |
Number of Performance- Based Share Options | | |
Weighted Average Exercise Price | | |
Weighted Average Remaining Contractual Life (in years) | | |
Aggregate Intrinsic Value | |
| Outstanding at January 1, 2025 | |
| 894,500 | | |
$ | 1.41 | | |
| 8.11 | | |
$ | — | |
| Issued | |
| — | | |
| — | | |
| — | | |
| — | |
| Exercised | |
| — | | |
| — | | |
| — | | |
| — | |
| Expired/Forfeited | |
| (294,500 | ) | |
| (2.13 | ) | |
| (6.45 | ) | |
| — | |
| Outstanding at September 30, 2025 | |
| 600,000 | | |
$ | 1.06 | | |
| 6.32 | | |
$ | 378,000 | |
| | |
| | | |
| | | |
| | | |
| | |
| Vested and exercisable September 30, 2025 | |
| — | | |
| — | | |
| — | | |
| — | |
For
the nine months ended September 30, 2024, stock option activity for performance-based options of the Company are as follows:
| | |
Number of Performance- Based Share Options | | |
Weighted Average Exercise Price | | |
Weighted Average Remaining Contractual Life (in years) | | |
Aggregate Intrinsic Value | |
| Outstanding at January 1, 2024 | |
| 894,500 | | |
$ | 1.41 | | |
| 8.11 | | |
$ | — | |
| Issued | |
| — | | |
| — | | |
| — | | |
| — | |
| Exercised | |
| — | | |
| — | | |
| — | | |
| — | |
| Expired/Forfeited | |
| — | | |
| — | | |
| — | | |
| — | |
| Outstanding at September 30, 2024 | |
| 894,500 | | |
$ | 1.41 | | |
| 7.36 | | |
$ | — | |
| | |
| | | |
| | | |
| | | |
| | |
| Vested and exercisable September 30, 2024 | |
| — | | |
| — | | |
| — | | |
| — | |
|