STOCKHOLDERS' EQUITY (Tables)

9 Months Ended

Sep. 30, 2025

STOCKHOLDERS' EQUITY

Schedule of share-based compensation

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2025		2024		2025		2024
Stock options	$	2,083,722	$	97,655	$	2,487,805	$	161,124
RSUs		1,772,753		55,064		2,200,967		292,442
Total share-based compensation expense	$	3,856,475	$	152,719	$	4,688,772	$	453,566

Schedule of aggregate non-cash stock-based compensation recognized

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2025		2024		2025		2024
General and administrative	$	145,828	$	67,708	$	476,921	$	295,485
Salaries and benefits		3,706,746		82,410		4,200,149		155,480
Professional fees		3,901		2,601		11,702		2,601
Total non-cash share-based compensation expense	$	3,856,475	$	152,719	$	4,688,772	$	453,566

Schedule of stock options

	Nine Months
	Ended
	September
Weighted-Average Grant Date Assumptions	30, 2025
Expected term (in years)		9.3
Risk-free interest rate		4.3	%
Expected dividend yield		0.0	%
Expected volatility		96.0	%
Fair value per share	$	2.49

		Weighted-		Weighted-
		Average		Average
		Exercise		Remaining	Aggregate
		Price Per		Contractual	Intrinsic
	Shares	Share		Term (in years)	Value
Options outstanding, December 31, 2024	4,330,000	$	0.23	3.7	$	6,652,700
Granted	2,391,400		2.41	—		—
Exercised	(672,500)		0.23	—		—
Forfeited	(166,667)		0.22	—		—
Expired	—		—	—		—
Options outstanding, September 30, 2025	5,882,233	$	1.12	5.7	$	29,818,109
Nonvested options, September 30, 2025	5,190,566	$	1.21	5.8	$	25,801,817
Vested and exercisable options, September 30, 2025	691,667	$	0.39	4.4	$	4,016,292

Schedule of restricted stock units

		Weighted-
		Average
		Grant Date
		Fair Value
	Shares	Per Share
RSUs outstanding at December 31, 2024	2,090,000	$	0.24
Granted	2,182,800		2.86
Vested	(1,428,199)		1.16
Forfeited	—		—
RSUs outstanding at September 30, 2025	2,844,601	$	1.79

Schedule of common stock warrants

		Weighted
	Number of	Average
	Warrants	Exercise Price
Balance at December 31, 2024	10,142,215	$	0.77
Exercised	(5,772,822)		0.77
Balance at September 30, 2025	4,369,393	$	0.77

Schedule of warrants outstanding

Number of warrants	Exercise Price		Expiration Date	Remaining life (years)
857,143	$	0.46	1/27/2026	0.33
806,500	$	0.85	2/1/2026	0.34
2,705,750	$	0.85	8/3/2026	0.84
4,369,393