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SHAREHOLDERS’ EQUITY (Tables)
12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
SCHEDULE OF STOCK OPTION/WARRANTS ACTIVITIES

The following table summarizes the stock option/warrant activities and related information for the years ended December 31, 2024 and 2023:

   

  

Number of

Warrants*

  

Weighted

Average

Exercise

Price

  

Weighted

Average

Remaining

Term

(Years)

  

Intrinsic

Value

 
As of January 1, 2023   3,137,998   $0.01    10.00   $ 
Granted   1,781,000    0.0001    10.00     
Exercised                
Forfeited                
As of December 31, 2023   4,918,998   $0.0064    10.00   $ 
Granted   449,190    0.0001    10.00     
Additions pursuant to Pono Merger**   12,134,375    11.50    5.00     
Exercised   (3,137,998)   0.01         
Forfeited/Cancelled   (2,230,190)   0.0001         
As of December 31, 2024**   12,134,375   $11.50    4.80   $ 
Vested and exercisable as of December 31, 2024   12,134,375   $11.50    4.80   $ 

 

* The number of Warrants granted to HeartCore was updated to reflect the adjustment upon the consummation of Pono Merger.

 

** As of December 31, 2024, there were 12,134,375 warrants issued by Pono, prior to Pono Merger, among which 11,500,000 warrants were issued through its initial public offering (“IPO”) (“Public Warrants”) and 634,375 were issued through a private placement (“Placement Warrants”). Each warrant entitles the registered holder to purchase one share of common stock at a price of $11.50 per share at any time commencing on October 17, 2024 until October 17, 2029, or earlier upon redemption or liquidation.