Quarterly report [Sections 13 or 15(d)]

STOCK OPTIONS

v3.26.1
STOCK OPTIONS
 6 Months Ended
Jun. 30, 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     (861,250 )     -       -       -  
Expired     (60,000 )     -       -       -  
Outstanding, June 30, 2026     4,618,750     $ 0.15       8.17     $ -  
                                 
Exercisable, June 30, 2026     2,410,201     $ 0.16       7.81     $ -  
                                 
Outstanding, December 31, 2024     -     $ -       -     $ -  
Issued     3,640,000       0.17       9.02       -  
Exercised     -       -       -       -  
Cancelled     (37,500 )     0.17       -       -  
Expired     -       -       -       -  
Outstanding, June 30, 2025     3,602,500     $ 0.17       8.53     $ -  
                                 
Exercisable, June 30, 2025     1,818,529     $ 0.17       8.31     $ -  

 

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 $24,640 and $40,750 for the three months ended June 30, 2026 and 2025, respectively, and total compensation expense related to the stock options was $64,030 and $122,807 for the six months ended June 30, 2026 and 2025, respectively was included in compensation expense on the condensed consolidated statement of operations. As of June 30, 2026, there was $132,388 in future compensation cost related to non-vested stock options which will be recognized over the remaining vesting period of approximately 3.00 years.

 

The aggregate intrinsic value as of June 30, 2026 is zero 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 option holders exercised their options as of that date, net of the aggregate exercise price.