EQUITY (Tables)
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6 Months Ended |
Jun. 30, 2025 |
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| Equity [Abstract] |
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| Schedule of Warrants Outstanding and Exercisable |
The following table summarizes the status of warrants and related transactions:
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Non-Derivative (Equity) Warrants |
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Derivative Liabilities Warrants |
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Total Number of Warrants |
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Weighted - Average Exercise Price |
Balance as of January 1, 2025 |
50,518,536 |
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21,400,000 |
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71,918,536 |
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$ |
1.03 |
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Granted (1)
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8,010,626 |
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— |
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8,010,626 |
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$ |
0.48 |
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Balance as of June 30, 2025 |
58,529,162 |
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21,400,000 |
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79,929,162 |
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$ |
0.98 |
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Exercisable as of June 30, 2025 |
57,059,162 |
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21,400,000 |
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78,459,162 |
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$ |
0.98 |
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| Schedule of Share-Based Payment Award, Warrants, Valuation Assumptions |
The following assumptions were used for the calculation at date of issuance:
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| Weighted average stock price |
$0.33 |
| Weighted average expected stock price volatility |
91.8% |
| Expected annual dividend yield |
0% |
Weighted average expected life of warrants |
5.0 years |
| Weighted average risk-free annual interest rate |
4.1% |
| Weighted average grant date fair value |
$0.22 |
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| Schedule of Stock Options Outstanding |
The following table summarizes the status of stock options and related transactions:
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Number of Stock Options |
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Weighted-Average Per Share Exercise Price |
| Issued and Outstanding as of January 1, 2025 |
26,769,419 |
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$ |
0.79 |
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| Granted |
840,000 |
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$ |
0.30 |
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| Cancelled/forfeited/expired |
(3,300,667) |
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$ |
0.78 |
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| Issued and Outstanding as of June 30, 2025 |
24,308,752 |
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$ |
0.77 |
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| Exercisable as of June 30, 2025 |
14,284,967 |
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$ |
0.95 |
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| Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions |
The following assumptions were used for the calculation at date of grant:
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Six Months Ended June 30, |
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2025 |
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2024 |
| Weighted average stock price |
$0.29 |
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$0.70 |
| Weighted average expected stock price volatility |
92.0% |
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77.9% |
| Expected annual dividend yield |
0% |
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0% |
| Weighted average expected life |
5.0 years |
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5.1 years |
| Weighted average risk-free annual interest rate |
4.0% |
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4.3% |
| Weighted average grant date fair value |
$0.21 |
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$0.46 |
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| Schedule of Components of Share-based Compensation Expense |
The components of share-based compensation expense (forfeiture), net, are as follows:
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2025 |
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2024 |
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2025 |
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2024 |
Stock options |
$ |
307 |
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$ |
594 |
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$ |
(74) |
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$ |
1,949 |
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| Restricted stock |
— |
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1 |
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— |
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2 |
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| Warrants |
67 |
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(248) |
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141 |
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(80) |
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Total share-based compensation expense (forfeiture), net |
$ |
374 |
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$ |
347 |
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$ |
67 |
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$ |
1,871 |
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