| STOCK OPTIONS |
7.
STOCK OPTIONS
Stock
options issued during the three months ended March 31, 2026 and the three months ended March 31, 2025
No
stock options were granted to directors, advisors, or employees during the three months ended March 31, 2026 or the three months ended
March 31, 2025.
For
the three months ended March 31, 2025, the Company recorded $4,490 in stock-based compensation expense related to vested stock options.
At March 31, 2026, there was no unamortized cost of stock-based awards.
A
summary of the Company’s stock option activity during the three months ended March 31, 2026 is as follows:
SCHEDULE
OF STOCK OPTION ACTIVITY
| | |
Shares | | |
Weighted Average Exercise Price | |
| Balance Outstanding at December 31, 2025 | |
| 13,193,376 | | |
$ | 0.40 | |
| Granted | |
| - | | |
| - | |
| Exchanged | |
| - | | |
| - | |
| Exercised | |
| - | | |
| - | |
| Expired | |
| (7,500 | ) | |
| 1.50 | |
| Forfeited | |
| - | | |
| - | |
| Balance Outstanding at March 31, 2026 | |
| 13,185,876 | | |
$ | 0.40 | |
| Balance Exercisable at March 31, 2026 | |
| 13,185,876 | | |
$ | 0.40 | |
At
March 31, 2026, the 13,185,876 outstanding stock options had $630 of intrinsic value.
A
summary of the Company’s stock options outstanding and exercisable as of March 31, 2026 is as follows:
SCHEDULE
OF STOCK OPTION OUTSTANDING
| | |
Number
of Options | | |
Weighted
Average
Exercise
Price | | |
Weighted
Average
Grant-
Date
Stock
Price | |
| Options Outstanding and Exercisable, March 31, 2026 | |
| 100,000 | | |
$ | 0.1337 | | |
$ | 0.1337 | |
| | |
| 750,000 | | |
$ | 0.148 | | |
$ | 0.148 | |
| | |
| 950,000 | | |
$ | 0.15 | | |
$ | 0.15 | |
| | |
| 3,050,000 | | |
$ | 0.18 | | |
$ | 0.18 | |
| | |
| 1,550,000 | | |
$ | 0.212 | | |
$ | 0.212 | |
| | |
| 1,150,000 | | |
$ | 0.277 | | |
$ | 0.277 | |
| | |
| 750,000 | | |
$ | 0.30 | | |
$ | 0.30 | |
| | |
| 2,000,000 | | |
$ | 0.35 | | |
$ | 0.35 | |
| | |
| 250,000 | | |
$ | 0.38 | | |
$ | 0.38 | |
| | |
| 1,664,542 | | |
$ | 0.50 | | |
$ | 0.50 | |
| | |
| 128,000 | | |
$ | 0.96 | | |
$ | 0.96 | |
| | |
| 343,334 | | |
$ | 1.50 - 1.95 | | |
$ | 1.50 - 1.95 | |
| | |
| 500,000 | | |
$ | 2.00
- 2.79 | | |
$ | 2.00 - 2.79 | |
| | |
| 13,185,876 | | |
| | | |
| | |
|