Quarterly report [Sections 13 or 15(d)]

STOCK OPTIONS

v3.26.1
STOCK OPTIONS
 3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
STOCK OPTIONS

NOTE 11- STOCK OPTIONS

 

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, 2025     5,540,000     $ 0.15       8.56     $ -  
Issued     -       -       -          
Exercised     -       -       -       -  
Cancelled     (10,000 )     -       -       -  
Expired     (50,000 )     -       -       -  
Outstanding, March 31, 2026     5,480,000     $ 0.15       8.32     $ -  
                                 
Exercisable, March 31, 2026     2,824,978     $ 0.16       7.95     $ -  
                                 
Outstanding, December 31, 2024     -     $ -       -     $ -  
Issued     3,640,000       0.17       9.02       -  
Exercised     -       -       -       -  
Cancelled     (37,500 )     -       -       -  
Expired     -       -       -       -  
Outstanding, March 31, 2025     3,602,500     $ 0.17       8.78     $ -  
                                 
Exercisable, March 31, 2025     1,541,448     $ 0.17       8.76     $ -  

 

The fair value of stock options granted and vested during the three months ended March 31, 2026 was zero and $39,390, respectively.

 

The fair value of stock options granted and vested during the three months ended March 31, 2025 was zero and $82,057, respectively.

 

The compensation expense attributed to the issuance of stock options is recognized as they are vested. Total compensation expense related to the stock options was $39,390 and $82,057 for the three months ended March 31, 2026 and 2025, respectively, and was included in compensation expense on the condensed consolidated statement of operations. As of March 31, 2026, there was $183,162 in future compensation cost related to non-vested stock options which will be recognized over the remaining vesting period of approximately 2.3 years.

 

The aggregate intrinsic value as of March 31, 2026 is zero for total outstanding and exercisable warrants, which was based on our estimated fair value of the Class A common stock of $0.02, had all option holders exercised their options as of that date, net of the aggregate exercise price.