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

STOCKHOLDERS??? WARRANTS

v3.26.1
STOCKHOLDERS’ WARRANTS
 12 Months Ended
Dec. 31, 2025
Stockholders Warrants  
STOCKHOLDERS’ WARRANTS

NOTE 10 – STOCKHOLDERS’ WARRANTS

 

The Company issues stock warrants to employees, consultants, and other service providers as compensation for services. Warrants are measured at fair value on the grant date using the Black-Scholes option pricing model and are recognized as compensation expense over the vesting period in accordance with ASC 718. No warrants were granted during the years ended December 31, 2025 or December 31, 2024.

 

Compensation expense related to stock warrants was $1,117,150 for the year ended December 31, 2025 and $1,564,350 for the year ended December 31, 2024. As of December 31, 2025, unrecognized compensation cost related to non-vested warrants was $26,489, expected to be recognized over a weighted-average period of 0.9 years.

 

The following table summarizes warrant activity for the years ended December 31, 2025 and 2024:

 

    Shares available
to purchase		     Weighted
Average		     Weighted
Average
Remaining
Contractual		     Aggregate  
    with warrants     Exercise Price     Term (in years)     Intrinsic Value  
Outstanding, December 31, 2024     39,100,000     $ 0.19       2.88     $ 21,000  
Issued     -       -       -       -  
Exercised     -       -       -       -  
Cancelled     (458,336 )     0.19       -       -  
Expired     (300,000 )     0.90       -       -  
Outstanding, December 31, 2025     38,341,664     $ 0.19       1.90     $ 13,160  
                                 
Exercisable, December 31, 2025     38,129,164     $ 0.19       1.90     $ 13,160  
                                 
Outstanding, December 31, 2023     39,350,000     $ 0.20       3.87     $ 61,600  
Issued     -       -       -       -  
Exercised     -       -       -       -  
Cancelled     -       -       -       -  
Expired     (250,000 )     1.00       -       -  
Outstanding, December 31, 2024     39,100,000     $ 0.19       2.88     $ 21,000  
                                 
Exercisable, December 31, 2024     29,483,863     $ 0.19       2.88     $ 21,000  

 

The following table summarizes information about stock warrants to purchase shares of the Company’s Class A common stock outstanding and exercisable as of December 31, 2025:

  

            Weighted-     Weighted-        
            Average     Average        
Range of     Outstanding     Remaining Life     Exercise     Number  
exercise prices     Warrants     In Years     Price     Exercisable  
$ 0.19       37,841,664       1.90     $ 0.19       37,629,164  
$ 0.20       100,000       1.84     $ 0.20       100,000  
$ 0.01       400,000       2.04     $ 0.01       400,000  
          38,341,664       1.90     $ 0.19       38,129,164  

 

The following table summarizes information about stock warrants to purchase shares of the Company’s Class A common stock outstanding and exercisable as of December 31, 2024:

 

            Weighted-     Weighted-        
            Average     Average        
Range of     Outstanding     Remaining Life     Exercise     Number  
exercise prices     Warrants     In Years     Price     Exercisable  
$ 0.90       300,000       0.75       0.90       300,000  
$ 0.19       38,300,000       2.90     $ 0.19       28,638,863  
$ 0.20       100,000       2.84     $ 0.20       100,000  
$ 0.01       400,000       3.04     $ 0.01       400,000  
          39,100,000       2.88     $ 0.19       29,438,863  

 

The aggregate intrinsic value of outstanding and exercisable warrants at December 31, 2025 was $21,000, based on the estimated fair value of the Company’s Class A common stock on that date.