Annual report [Section 13 and 15(d), not S-K Item 405]

STOCKHOLDERS??? OPTIONS (Tables)

v3.25.1
STOCKHOLDERS’ OPTIONS (Tables)
 12 Months Ended
Dec. 31, 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     $ 0.19     $ 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       9.04          
Exercised     -       -       -       -  
Cancelled/Forfeited     (1,410,000 )     0.17       -       -  
Expired     -       -       -       -  
Outstanding, December 31, 2024     4,760,000     $ 0.17       9.26     $ -  
                                 
Exercisable, December 31, 2024     876,036     $ 0.17       9.26     $ -