v3.26.1
STOCKHOLDERS’ EQUITY
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
STOCKHOLDERS’ EQUITY

NOTE 12 – STOCKHOLDERS’ EQUITY

 

Preferred stock

 

The Company is authorized to issue 400,000,000 shares of Common Stock, and 50,000,000 shares of Preferred Stock.

 

Preferred Stock

 

Each share of Preferred Stock has the voting power of ten shares of Common Stock, and can at any time be converted into five, shares of Common Stock. The number of shares of Preferred Stock issued and outstanding during the reporting period(s).

 

Issuances in the period January 1 and December 31, 2024

  

Date     # Shares   Amount   Price/Share   Type  Notice
1/1/2024      —   $—   $—       
8/19/2024  g   19,221,026    4,139,126    0.215   conversion Common  affiliate
8/19/2024  c   8,973,405    160,949    0.018   exercise of warrant  affiliate
8/19/2024  c   776,817    353,840    0.455   debt conversion  affiliate
8/28/2024  g   22,370    14,820    0.662   conversion Common  affiliate
8/28/2024  g   (100,000)   (500)   0.005   conversion Common  affiliate
10/25/2024  c   28,467,564    15,481,377    0.544   subsidiary acquisition  affiliate
10/25/2024  a   (14,085,410)   —    —   return to treasury  affiliate
10/25/2024  c   —    (15,860,281)   —   Subsidiary integration  affiliate
12/4/2024  g   (200,000)   (1,000)   0.005   stock conversion  affiliate
See note 13  b   82,476    39,999    0.485   see 2021 stock plan  affiliate
12/31/2024      43,158,248   $4,328,332   $0.100       

 

 

Issuances in the period January 1 and December 31, 2025

 

Date     # Shares   Amount   Price/Share   Type  Notice
1/1/2025      43,158,248   $4,328,332   $0.100       
1/10/2025  g   (150,000)   (750)   0.005   stock conversion  affiliate
3/31/2025      —    214,780    —   payroll forfeiture*  affiliate
12/10/2025  g   (300,000)   (1,500)   0.005   stock conversion  affiliate
See note 13  d   575,743    207,288    0.360   2021 Stock Plan  affiliate
12/31/2025      43,283,991   $4,748,150   $0.110       

 

* The transaction originating from the Company’s Officers forfeiting payroll of $941,890, whereof $214,780 was accrued in prior year. (See note 8 for more details).

 

Common stock

 

Number of shares of Common Stock issued and outstanding during the reporting period(s):

 

Issuances in the period January 1 and December 31, 2024

  

Date     # Shares   Amount   Price/Share   Type  Notice
1/1/2024      144,642,333   $13,275,357   $0.092       
1/17/2024  a   —    (45,000)   —   subscription   
1/17/2024  a   333,333    45,000    0.135   private placement   
1/18/2024  c   3,703,704    371,108    0.100   debt conversion   
1/18/2024  c   3,599,289    485,904    0.135   debt conversion  affiliate
1/22/2024  c   4,356,778    —    —   exercise of warrant  cashless
1/22/2024  b   8,950,474    1,163,562    0.130   convertible note   
3/20/2024  b   906,618    100,000    0.110   convertible note   
3/27/2024  c   3,705,808    279,051    0.075   debt conversion   
4/4/2024  c   1,000,000    104,000    0.104   debt conversion   
4/15/2024  b   479,192    62,295    0.130   convertible note   
4/15/2024  a   173,077    18,000    0.104   private placement   
4/19/2024  c   250,000    32,125    0.129   debt conversion   
4/22/2024  a   194,553    25,000    0.128   private placement   
5/16/2024  b   769,231    100,000    0.130   convertible note   
5/20/2024  c   1,027,397    150,000    0.146   debt conversion   
6/27/2024  a   212,766    20,000    0.094   private placement   
8/19/2024  g   (96,105,125)   (4,139,126)   0.043   stock conversion  affiliate
8/28/2024  g   (111,847)   (14,820)   0.133   stock conversion  affiliate
8/28/2024  g   500,000    500    0.001   stock conversion  affiliate
10/25/2024  h   3,389,169    368,623     0.109   subsidiary acquisition   
12/4/2024  h   1,000,000    1,000    0.001   stock conversion   
see note 13  d   1,886,944    198,628    0.105   2021 Stock Plan  affiliate
see note 13  d   1,919,214    199,682    0.104   2021 Stock Plan   
12/31/2024      86,782,908   $12,800,889   $0.148       

 

 

Issuances in the period January 1 and December 31, 2025

 

Date     # Shares   Amount   Price/Share   Type  Notice
1/1/2025      86,782,908  $ 12,800,889  $ 0.147        
1/10/2025  h   750,000    750    0.001   stock conversion   
9/30/2025  a   —    13,353    —   subscription   
10/30/2025  a   —    (13,353)   —   subscription   
10/30/2025  a   226,937    13,616    0.060   private placement   
11/13/2025  a*  15,444,001    389,872    0.025   private placement   
11/13/2025  a*  —    267,928    —   warrants   
12/19/2025  a*  1,170,000    35,498    0.030   private placement   
12/19/2025  a*  —    24,302    —   warrants   
12/10/2025  c   609,858    49,337    0.081   consulting fees   
12/10/2025  h   1,500,000    1,500    0.001   stock conversion   
see note 13  d   1,664,027    121,062    0.073   2021 Stock Plan   
12/31/2025      108,147,731   $13,625,905   $0.127       

 

* See further Note 11

 

a The Company claims an exemption from the registration requirements of the Securities Act for the private placement of these securities pursuant to Section 4(a)(2) of the Securities Act and/or Rule 506 of Regulation D promulgated under the Securities Act.
b The Common Stock underlying the Convertible Note(s) are currently eligible for resale under Rule 144. At the time of sale of the promissory note, the Company claimed an exemption from the registration requirements of the Securities Act for these securities pursuant to Section 4(a)(2) of the Securities Act and/or Rule 506 of Regulation D promulgated under the Securities Act.
c The Company claims an exemption from the registration requirements of the Securities Act pursuant to the Exchange Exemption in Rule 3(a)(9) of the Securities Act.
d The Company claims an exemption from the registration requirements of the Securities Act for the Compensatory Benefit Plan pursuant to Rule 701 of the Securities Act.
e The Company claims an exemption from the registration requirements of the Securities Act pursuant to the Exchange Exemption in section 12(a) of the Securities Act.
f The shares were issued after the Company filed a registration statement with the SEC, on Form S-1
g The Company claims an exemption from the registration requirements of the Securities Act pursuant to the Exchange Exemption under Rule 145 of the Securities Act.
h The Company claims an exemption from the registration requirements of the Securities Act pursuant to the Exchange Exemption under Rule 144 of the Securities Act.

 

Common Shares due, but not yet issued in accordance with service contract for the year ended December 31, 2025:

 

Date  # Shares   Amount   Price/Share   Type  Notice
12/31/2025   75,000   $4,883   $0.065   consulting fees   
12/31/2025   75,000   $4,883   $0.065       

 

Common Stock Warrants

 

The fair value of stock warrants granted for the year ended December 31, 2025, and 2024 was calculated with the following assumptions:

   

   2025   2024 
Risk-free interest rate   3.55 – 4.61%   3.41 – 4.72%
Expected dividend yield   0%   0%
Volatility factor (monthly)   120.44%   134.66%
Expected life of warrant   5 years    5 years 

 

 

For the year ended December 31, 2025 the Company issued 15,383,334 warrants as part of a private placement unit offering, see note 11. For the year ended December 31, 2024 the Company did not award any warrants, while 50,000 warrants valued at $21,606 were retired.

 

The following table summarizes the Company’s Common Stock warrant activity for the years ended December 31, 2025, and 2024:

   

   Number of
Warrants *		  

Weighted

Average
Exercise Price

  

Weighted

Average

Remaining

Expected Term

 
Outstanding as at January 1, 2024   1,342,030   $0.29    3.8 
Granted   —    —    — 
Exercised   —    —    — 
Forfeited/Cancelled   (50,000)   2.00    — 
Outstanding as at December 31, 2024   1,292,030   $0.22    3.0 
Granted   15,383,334    0.12    5.0 
Exercised   —    —    — 
Forfeited/Cancelled   —    —    — 
Outstanding as at December 31, 2025   16,675,364   $0.13    4.6 

 

The following table summarizes information about stock warrants that are vested or expected to vest at December 31, 2025 with a market price of $0.15 at December 31, 2025:

   

       Warrants Outstanding and Exercisable     
Exercise Price  Number of
Warrants		   Weighted Average
Exercise Price
Per Share		   Weighted Average
Remaining
Contractual Life
(Years)		   Aggregate Intrinsic Value 
$0.12    15,383,334   $0.12    4.9   $— 
 0.20-0.25    1,264,030    0.23    2.0    — 
 0.47    28,000    0.47    1.6    — 
$0.12-0.47    16,675,364   $0.13    4.6   $— 

 

The weighted-average remaining contractual life for warrants exercisable at December 31, 2025 is 4.6 years. The aggregate intrinsic value for fully vested, exercisable warrants was $0 at December 31, 2025.

 

The following table sets forth the status of the Company’s non-vested warrants as at December 31, 2025, and 2024.

  

   Number of
Warrants		   Weighted- Average
Grant-Date Fair
Value per share		 
Non-vested as at January 1, 2024   —   $— 
Granted   —    — 
Forfeited/Cancelled   (50,000)   0.43 
Vested   —    — 
Non-vested as at December 31, 2024   —   $— 
Granted   15,383,334    0.12 
Forfeited/Cancelled   —    — 
Vested   —    — 
Non-vested as at December 31, 2025   —   $—