| Summary of Stock Option Activities |
The following is a summary of stock option activities for the three and nine months ended September 30, 2025 and 2024:
|
|
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|
|
|
|
|
|
|
|
|
|
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|
Number of stock
options |
|
|
Weighted average
exercise price |
|
|
Weighted average
grant date
fair value |
|
Outstanding January 1, 2024 |
|
|
470,668 |
|
|
$ |
0.25 |
|
|
$ |
0.29 |
|
Granted |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Exercised |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Forfeited |
|
|
(157,334 |
) |
|
|
0.37 |
|
|
|
0.36 |
|
Outstanding March 31, 2024 |
|
|
313,334 |
|
|
$ |
0.25 |
|
|
$ |
0.25 |
|
Granted |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Exercised |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Forfeited |
|
|
(66,667 |
) |
|
|
0.25 |
|
|
|
0.25 |
|
Outstanding June 30, 2024 |
|
|
246,667 |
|
|
$ |
0.25 |
|
|
$ |
0.25 |
|
Granted |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Exercised |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Forfeited |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Outstanding September 30, 2024 |
|
|
246,667 |
|
|
$ |
0.25 |
|
|
$ |
0.25 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding Jan 1, 2025 |
|
|
246,667 |
|
|
$ |
0.25 |
|
|
$ |
0.25 |
|
Granted |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Exercised |
|
|
(50,000 |
) |
|
|
0.25 |
|
|
|
0.25 |
|
Forfeited |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Outstanding March 31, 2025 |
|
|
196,667 |
|
|
$ |
0.25 |
|
|
$ |
0.25 |
|
Granted |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Exercised |
|
|
(196,667 |
) |
|
|
0.25 |
|
|
|
0.25 |
|
Forfeited |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Outstanding June 30, 2025 |
|
|
— |
|
|
$ |
- |
|
|
$ |
- |
|
Granted |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Exercised |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Forfeited |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Outstanding September 30, 2025 |
|
|
— |
|
|
$ |
- |
|
|
$ |
- |
|
|
| Summary of Stock Options Outstanding and Exercisable |
As of September 30, 2025, there were no stock options outstanding and exercisable. As of September 30, 2024, the following stock options were outstanding and exercisable:
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|
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|
|
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|
|
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|
|
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|
Outstanding |
|
|
Exercisable |
|
|
Exercise Price |
|
|
Remaining life (years) |
|
|
Expiry Date |
|
246,667 |
|
|
|
246,667 |
|
|
$ |
0.25 |
|
|
|
— |
|
|
June 23, 2025 |
|
246,667 |
|
|
|
246,667 |
|
|
|
|
|
|
|
|
|
|
| Summary of RSU Activities |
The following is a summary of RSU activities for the three and nine months ended September 30, 2025 and 2024:
|
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|
Number of RSUs |
|
|
Weighted average grant date fair value per RSU |
|
Outstanding January 1, 2024 |
|
|
4,989,603 |
|
|
$ |
0.98 |
|
Granted |
|
|
2,573,333 |
|
|
|
0.52 |
|
Vested |
|
|
(794,579 |
) |
|
|
1.02 |
|
Forfeited |
|
|
(870,002 |
) |
|
|
1.11 |
|
Outstanding March 31, 2024 |
|
|
5,898,355 |
|
|
$ |
0.75 |
|
Granted |
|
|
231,667 |
|
|
|
0.54 |
|
Vested |
|
|
(619,908 |
) |
|
|
1.26 |
|
Forfeited |
|
|
(330,892 |
) |
|
|
0.71 |
|
Outstanding June 30, 2024 |
|
|
5,179,222 |
|
|
$ |
0.69 |
|
Granted |
|
|
605,000 |
|
|
|
0.24 |
|
Vested |
|
|
(371,425 |
) |
|
|
0.63 |
|
Forfeited |
|
|
(150,576 |
) |
|
|
0.72 |
|
Outstanding September 30, 2024 |
|
|
5,262,221 |
|
|
$ |
0.64 |
|
|
|
|
|
|
|
|
Outstanding January 1, 2025 |
|
|
5,268,373 |
|
|
$ |
0.65 |
|
Granted |
|
|
4,149,000 |
|
|
|
0.67 |
|
Vested |
|
|
(1,876,109 |
) |
|
|
0.60 |
|
Forfeited |
|
|
(246,669 |
) |
|
|
0.66 |
|
Outstanding March 31, 2025 |
|
|
7,294,595 |
|
|
$ |
0.67 |
|
Granted |
|
|
250,002 |
|
|
|
0.66 |
|
Vested |
|
|
(309,994 |
) |
|
|
0.91 |
|
Forfeited |
|
|
(16,669 |
) |
|
|
0.84 |
|
Outstanding June 30, 2025 |
|
|
7,217,934 |
|
|
$ |
0.67 |
|
Granted |
|
|
680,706 |
|
|
|
0.61 |
|
Vested |
|
|
(498,219 |
) |
|
|
0.58 |
|
Forfeited |
|
|
(347,578 |
) |
|
|
0.69 |
|
Outstanding September 30, 2025 |
|
|
7,052,843 |
|
|
$ |
0.67 |
|
|