EQUITY (Tables)

9 Months Ended

Sep. 30, 2025

The following table summarizes information about warrant activities for the nine months ended September 30, 2025 and 2024:


	Common Stock Warrants
	Number of Warrants	Weighted Average Exercise Price
Outstanding at December 31, 2024	14,615,703	$	11.91
Granted	6,793,575	$	0.002
Exercised	(2,632,955)	$	9.14
Forfeited	(100,000)	$	14.00
Expired	(94,644)	$	15.39
Outstanding at September 30, 2025	18,581,679	$	7.92

Outstanding at December 31, 2023	15,309,547	$	11.26
Granted	4,085,624	$	8.60
Exercised	(2,507,168)	$	6.64
Forfeited	(1,806,062)	$	5.50
Expired	(386,250)	$	14.16
Outstanding at September 30, 2024	14,695,691	$	11.94

Additional information regarding warrants outstanding as of September 30, 2025 and December 31, 2024 is as follows:


	Warrants to Purchase Common Stock
	Weighted Average Exercise Price		Expiration Date	Number of Warrants Outstanding
Pre-funded warrant	$	0.002	Perpetual	6,793,575
Issued with debt	$	8.31	Jul 2026 - Aug 2032	4,002,972
Issued to employees, directors and service providers	$	18.18	Jan 2026 - Mar 2030	2,663,529
Issued with common stock	$	15.34	Apr 2026 - Dec 2027	1,613,781
Purchase of warrants	$	14.50	Dec 2025 - Oct 2026	2,378,683
Issued to strategic investors under ERPs	$	5.50	Aug 2027	1,129,139
Outstanding at September 30, 2025				18,581,679


	Warrants to Purchase Common Stock
	Weighted Average Exercise Price		Expiration Date	Number of Warrants Outstanding
Issued with debt	$	8.34	Jan 2025 - Aug 2032	4,020,471
Issued to employees, directors and service providers	$	18.06	Jun 2025 - Mar 2030	3,862,703
Issued with common stock	$	15.34	Apr 2026 - Dec 2027	1,613,778
Purchase of warrants	$	14.50	Oct 2025 - Dec 2025	2,378,683
Issued to strategic investors under ERPs	$	4.20	Apr 2025 - Sep 2027	2,740,068
Outstanding at December 31, 2024				14,615,703

The number of outstanding ERP warrants as of September 30, 2025 and December 31, 2024 are as follows: