Quarterly report pursuant to Section 13 or 15(d)

STOCK OPTIONS (Tables)

v3.24.2.u1
STOCK OPTIONS (Tables)
6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
SCHEDULE OF STOCK OPTIONS

Date    

Number of

Stock

Options

   

Stock

Price1

   

Strike

Price

    Expected Volatility     Interest Rate     Dividend Rate     Expected Term (years)2       Fair Value  
  1/1/2024       4,660,000     $ 0.16     $ 0.17       134.97 %     4.00 %     0.00 %     4.0     $ 731,548  
  05/16/2024       390,000     $ 0.11     $ 0.11       135.44 %     4.49 %     0.00 %     4.0     $ 30,616  

 

  1 Grant exercise price is based on the prior trading day’s closing price of $0.164 on December 29, 2024 and $0.11 on May 15, 2024.
     
  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     Weighted Average     Weighted Average Remaining Contractual     Aggregate  
    purchase
with options
   

Exercise

Price

   

Term

(in years)

   

Intrinsic

Value

 
Outstanding, December 31, 2023     -     $ -       -     $         -  
Issued     5,050,000       0.17       8.99          
Exercised     -       -       -       -  
Cancelled/Forfeited     (290,000 )     0.17       -       -  
Expired     -       -       -       -  
Outstanding, June 30, 2024     4,760,000     $ 0.17       9.51     $ -  
                                 
Exercisable, June 30, 2024     733,330     $ 0.17       9.51     $ -