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

Stock-Based Compensation (Tables)

v3.26.1
Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Summary of Assumptions Used to Estimate the Fair Value of Stock Options Granted

Assumptions used to estimate the fair value of stock options granted were as follows:

 

Granted in Period   High     Low     Weighted Average  
Award/Strike Price     1.03       0.86       0.93  
Market Price     0.93       0.86       0.92  
Volatility     117.87 %     117.79 %     117.87 %
Dividend Yield     0.00 %     0.00 %     0.00 %
Expected Life     6.00 yrs       5.00 yrs       5.25 yrs  
Risk Free Rate     3.82 %     3.72 %     3.74 %
Summary of Stock Option Activity

Stock option activity for the year ended December 31, 2025, was as follows:

 

                Weighted
Average
       
          Weighted Average     Remaining
Contractual
    Aggregate  
    Number of
Shares
    Exercise
Price
    Term
(In Years)
    Intrinsic
Value(1)
 
Outstanding at December 31, 2024     33,150     $ 142.71       6.72     $  
Granted     1,052,320       0.93       5.25        
Forfeited     (9,138 )     105.90              
Outstanding at December 31, 2025     1,076,332       4.41       9.89     $  
Exercisable at December 31, 2025     812,332       5.54       9.87        

 

(1) The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying stock option awards and the closing market price of our common stock as of December 31, 2025, and 2024, respectively
Summary of Weighted Average Grant Fair Value of Stock Options

Certain other information regarding our stock-based awards was as follows:

 

    2025     2024  
Weighted average grant date fair value of stock options granted per share   $ 0.77     $ 11.46  
Grant date fair value of stock options that vested   $ 819,842     $ 305,632