EQUITY (Tables)
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9 Months Ended |
Sep. 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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8,210,626 |
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— |
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8,210,626 |
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$ |
0.48 |
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Balance as of September 30, 2025 |
58,729,162 |
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21,400,000 |
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80,129,162 |
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$ |
0.98 |
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Exercisable as of September 30, 2025 |
57,509,162 |
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21,400,000 |
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78,909,162 |
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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 |
1,120,000 |
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$ |
0.42 |
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| Cancelled/forfeited/expired |
(3,444,834) |
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$ |
0.82 |
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| Issued and Outstanding as of September 30, 2025 |
24,444,585 |
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$ |
0.77 |
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| Exercisable as of September 30, 2025 |
18,507,055 |
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$ |
0.85 |
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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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Nine Months Ended September 30, |
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2025 |
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2024 |
| Weighted average stock price |
$0.41 |
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$0.56 |
| Weighted average expected stock price volatility |
92.8% |
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86.9% |
| Expected annual dividend yield |
0% |
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0% |
| Weighted average expected life |
5.1 years |
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5.0 years |
| Weighted average risk-free annual interest rate |
3.9% |
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3.6% |
| Weighted average grant date fair value |
$0.30 |
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$0.21 |
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| Schedule of Components of Share-based Compensation Expense |
The components of share-based compensation expense, net, are as follows:
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2025 |
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2024 |
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2025 |
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2024 |
Stock options |
$ |
261 |
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$ |
982 |
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$ |
187 |
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$ |
2,931 |
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| Restricted stock |
— |
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— |
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— |
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2 |
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| Warrants |
96 |
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100 |
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237 |
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20 |
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Total share-based compensation expense, net |
$ |
357 |
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$ |
1,082 |
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$ |
424 |
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$ |
2,953 |
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