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WARRANT LIABILITIES (Tables)
12 Months Ended
Dec. 31, 2025
WARRANT LIABILITIES  
Schedule of warrant liability

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Units after

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Units after

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Units -

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25:1

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further 35:1

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Original

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Split

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Split

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FMV

Initial measurement-when issuing

 

2,722,224

 

108,889

 

3,112

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$

1,064,287

Subsequent share price change

 

14,291,677

 

571,668

 

16,334

​

 

399,759

Exercise of September 2024 Series A Warrants - 2024

 

(1,038,889)

 

(41,556)

 

(1,188)

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(89,396)

Loss on September 2024 Series A Warrant remeasurement at December 31, 2024

 

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—

 

—

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50,282

Balance at December 31, 2024

 

15,975,012

 

639,001

 

18,258

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$

1,424,932

Exercise of September 2024 Series A Warrants - 2025

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(1,500,000)

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(60,000)

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(1,715)

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(126,180)

Re-measurement adjustment

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—

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(965,095)

FMV of September 2024 Series A Warrants at December 31, 2025

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14,475,012

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579,001

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16,543

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$

333,657

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The remeasurement of the September 2024 Series A Warrants resulted in a gain of $965,095 for the year ended December 31, 2025, and a loss of $50,282 for the year ended December 31, 2024. Such gain or loss was recognized in the consolidated statements of operations and comprehensive income (loss).

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Summary of September 2024 Series B Warrants

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The September 2024 Series B Warrants were exercised in full in 2024.

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Units after

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Units after

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​

Units -

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25:1

​

further 35:1

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Assessments

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Original

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Split

  ​ ​ ​

Split

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FMV

Initial - when issuing

 

2,722,224

 

108,889

 

3,112

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$

722,539

Subsequent share price change

 

5,835,330

 

233,413

 

6,669

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$

43,232

Exercise of September 2024 Series B Warrants in full - 2024

 

(8,557,554)

 

(342,302)

 

(9,781)

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$

(765,771)

Balance at December 31, 2024

 

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$

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