Quarterly report pursuant to Section 13 or 15(d)

STOCK OPTIONS (Tables)

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STOCK OPTIONS (Tables)
 3 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
SCHEDULE OF STOCK OPTIONS
    Number of                                            
    Stock     Stock     Strike     Expected     Interest     Dividend     Expected     Fair  
Date   Options     Price1     Price     Volatility     Rate     Rate     Term (years)2     Value  
1/1/2024     4,660,000     $ 0.16     $ 0.17       134.97 %     4.00 %     0.00 %     4.0     $ 731,548  

 

1 Grant exercise price is based on the prior trading day’s closing price of $0.164.

2 Options granted vest over various time periods ranging from two to four years with the majority vesting over a four-year term.
SCHEDULE OF OUTSTANDING OPTIONS ACTIVITY

A summary of the status of the Company’s outstanding stock options and changes during the periods is presented below:

 

    Shares available
to purchase		     Weighted Average     Weighted Average
Remaining Contractual		     Aggregate  
    with options     Exercise Price     Term (in years)     Intrinsic Value  
Outstanding, December 31, 2023     -     $ -       -     $ -  
Issued     4,660,000       0.17       9.76        
Exercised     -       -       -       -  
Cancelled     -       -       -       -  
Expired     -       -       -       -  
Outstanding, March 31, 2024     4,660,000     $ 0.17       9.76     $ -  
                                 
Exercisable, March 31, 2024     590,624     $ 0.17       9.76     $ -