Annual report [Section 13 and 15(d), not S-K Item 405]

Stock Options (Tables)

v3.26.1
Stock Options (Tables)
12 Months Ended
Dec. 31, 2025
Stock Options [Abstract]  
Schedule of Stock Option Activity

Stock option activity for the years ended December 31, 2025, and 2024 was as follows:

 

    Number of
Options
    Weighted average
exercise price
per share
    Weighted average
remaining
contractual term
(years)
    Aggregate
intrinsic value
(in thousands)
 
                         
Outstanding, January 1, 2024     99,000     $ 32.38       8.55                   
Granted     104,433     $ 8.13       9.16          
Expired/Cancelled     (21,399 )   $ 9.43       -          
Outstanding, December 31, 2024     182,034     $ 21.17       8.98     $
-
 
                                 
Exercisable, December 31, 2024     106,536     $ 29.35       8.05          
                                 
Outstanding, January 1, 2025     182,034     $ 21.17       8.98          
Granted     1,534,525     $ 0.72       9.81     $
-
 
Expired/Cancelled     (30,716 )   $ 9.30       -          
Outstanding, December 31, 2025     1,685,843     $ 9.60       7.68     $ 882,352  
                                 
Exercisable, December 31, 2025     117,566     $ 28.01       7.22          
Schedule of Weighted Average Assumptions The following weighted-average assumptions were used in the Black-Scholes calculations:
    Year ended December 31,  
    2025     2024  
Expected volatility     105.36 %     88.41 %
Expected term     5.0       6.5  
Weighted-average risk-free interest rate     3.61 %     4.2 %
Weighted average fair value of underlying interest   $ 0.72     $ 8.13  
Expected dividends    
-
     
-