Quarterly report [Sections 13 or 15(d)]

STOCK WARRANTS

v3.26.1
STOCK WARRANTS
 6 Months Ended
Jun. 30, 2026
Stock Warrants  
STOCK WARRANTS

NOTE 10 – STOCK WARRANTS

 

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

 

    Shares available to purchase     Weighted Average     Weighted Average Remaining Contractual     Aggregate  
    with warrants     Exercise Price     Term (in years)     Intrinsic Value  
Outstanding, December 31, 2025     38,341,664     $ 0.19       1.90     $ 13,160  
Issued     -       -       -       -  
Exercised     -       -       -       -  
Cancelled     -       -       -       -  
Expired     -       -       -       -  
Outstanding, June 30, 2026     38,341,664     $ 0.19       1.41     $ 4,800  
                                 
Exercisable, June 30, 2026     38,279,164     $ 0.19       1.41     $ 4,800  
                                 
Outstanding, December 31, 2024     39,100,000     $ 0.19       2.88     $ 21,000  
Issued     -       -       -       -  
Exercised     -       -       -       -  
Cancelled     -       -       -       -  
Expired     (275,000 )     0.90       -       -  
Outstanding, June 30, 2025     38,825,000     $ 0.19       2.40     $ 7,240  
                                 
Exercisable, June 30, 2025     35,227,743     $ 0.19       2.40     $ 7,240  

 

 

The following table summarizes information about stock warrants to purchase shares of the Company’s Class A common stock outstanding and exercisable as of June 30, 2026:

 

            Weighted-     Weighted-        
            Average     Average        
Range of     Outstanding     Remaining Life     Exercise     Number  
exercise prices     Warrants     In Years     Price     Exercisable  
$ 0.19       37,841,664       1.41     $ 0.19       37,779,164  
$ 0.20       100,000       1.34     $ 0.20       100,000  
$ 0.01       400,000       1.55     $ 0.01       400,000  
          38,341,664       1.41     $ 0.19       38,279,164  

 

The compensation expense attributed to the issuance of the stock warrants is recognized as they are vested.

 

Total compensation expense related to the stock warrants was $8,525 and $389,179 for the three months ended June 30, 2026 and 2025, respectively, and total compensation expense related to the stock warrants was $18,217 and $778,359 for the six months ended June 30, 2026 and 2025, respectively and was included in compensation expense on the condensed consolidated statement of operations. As of June 30, 2026, there was $7,103 in future compensation cost related to non-vested stock warrants which will be recognized over the remaining vesting period of approximately 0.25 years.

 

The aggregate intrinsic value as of June 30, 2026 is $4,800 for total outstanding and exercisable warrants, which was based on the closing market price of the Class A common stock of $0.02, had all warrant holders exercised their warrants as of that date, net of the aggregate exercise price.