v3.25.1
COMMON STOCK OPTIONS, WARRANTS AND RESTRICTED STOCK UNITS
 3 Months Ended
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]  
COMMON STOCK OPTIONS, WARRANTS AND RESTRICTED STOCK UNITS

NOTE 4: COMMON STOCK OPTIONS, WARRANTS AND RESTRICTED STOCK UNITS

 

Common Stock Options

 

The Company recognizes in the financial statements compensation related to all stock-based awards, including stock options and warrants, based on their estimated grant-date fair value. The Company has estimated expected forfeitures and is recognizing compensation expense only for those awards expected to vest. All compensation is recognized by the time the award vests.

 

The following schedule summarizes the changes in the Company’s stock options:

 

   Options Outstanding   Weighted Average        Weighted Average 
   Number Of Shares   Exercise Price Per Share  

Remaining
Contractual Life

   Aggregate Intrinsic Value   Exercise
Price
Per Share		 
Three Months Ended March 31, 2024                         
                          
Outstanding at January 1, 2024   2,252,809   $0.024-0.04    5.70 years    $78,886   $0.04 
Granted   -   $-    -        $- 
Exercised   -   $-    -        $- 
Expired/cancelled   -   $-    -        $- 
Outstanding at March 31, 2024   2,252,809   $0.024-0.04    5.45 years    $78,660   $0.04 
Exercisable at March 31, 2024   2,252,809   $0.024-0.04    5.45 years    $78,660   $0.04 
                          
Three Months Ended March 31, 2025                         
                          
Outstanding at January 1, 2025   2,252,809   $0.024-0.04    4.70 years    $174,855   $0.04 
Granted   -   $-    -        $- 
Exercised   -   $-    -        $- 
Expired/cancelled   -   $-    -        $- 
Outstanding at March 31, 2025   2,252,809   $0.024-0.04    4.45 years    $190,850   $0.04 
Exercisable at March 31, 2025   2,252,809   $0.024-0.04    4.45 years    $190,850   $0.04 

 

During the three months ended March 31, 2025 and 2024, the Company recognized $0 of stock-based compensation expense related to the vesting of stock options.

 

 

Common Stock Warrants

 

The following schedule summarizes the changes in the Company’s stock warrants:

 

   Warrants Outstanding   Weighted Average       Weighted Average 
   Number Of Shares   Exercise Price Per Share  

Remaining

Contractual Life

   Aggregate Intrinsic Value  

Exercise Price

Per Share

 
Three Months Ended March 31, 2024                         
                          
Outstanding at January 1, 2024   26,134,000   $ 0.06-0.10     3.54 years    $-   $0.0827 
Granted   2,000,000   $0.075    -   $-   $- 
Redeemed   -   $-    -   $-   $- 
Exercised   -   $-    -   $-   $- 
Exchanged   -   $-    -   $-   $- 
Expired/cancelled   -   $-    -   $-   $- 
Outstanding at March 31, 2024   28,134,000   $0.075    3.75 years    $-   $0.075 
Exercisable at March 31, 2024   28,134,000   $0.075    3.75 years    $-   $0.075 
                          
Three Months Ended March 31, 2025                         
                          
Outstanding at January 1, 2025   11,465,000   $0.13    3 years    $123,690   $0.13 
Granted   6,250,000   $0.15    -   $-   $- 
Redeemed   -   $-    -   $-   $- 
Exercised   -   $-    -   $-   $- 
Exchanged   -   $-    -   $-   $- 
Expired/cancelled   -   $-    -   $-   $- 
Outstanding at March 31, 2025   17,715,000   $ 0.075-0.15     2.93 years    $145,700   $0.1369 
Exercisable at March 31, 2025   17,715,000   $ 0.075-0.15     2.93 years    $145,700   $0.1369 

 

Changes to these inputs could produce a significantly higher or lower fair value measurement. The fair value of each option/warrant is estimated using the Black-Scholes valuation model. The following assumptions were used for the periods as follows:

 

    Three Months Ended     Three Months Ended 
    March 31, 2025     March 31, 2024  
Expected term   -    - 
Expected volatility   -%   -%
Expected dividend yield   -    - 
Risk-free interest rate   -%   -%

 

The Company granted 2,000,000 warrants in January 2024, with an exercise price of $0.075 and a three-year term.

 

The Company granted 6,500,000 warrants in February 2025, with an exercise price of $0.15 that expire June 30, 2028.

 

 

Restricted Stock Units

 

The following schedule summarizes the changes in the Company’s restricted stock units:

 

   Number Of Shares   Weighted Average
Grant Date Fair Value		 
Three Months Ended March 31, 2024          
           
Outstanding at January 1, 2024   1,450,000   $0.09 
Granted   20,000,000   $- 
Vested   (5,000,000)  $- 
Forfeited   -   $- 
Outstanding at March 31, 2024   16,450,000   $0.09 
           
Three Months Ended March 31, 2025          
           
Outstanding at January 1, 2025   11,825,000   $0.08 
Granted   -   $- 
Vested   (5,000,000)  $- 
Forfeited   -   $- 
Outstanding at March 31, 2025   6,825,000   $0.08 

 

During the periods ended March 31, 2025 and 2024, the Company recognized $361,500 and $361,500 in expense related to the vesting of its restricted stock units. As of March 31, 2025, the Company had $562,355 worth of expense yet to be recognized for restricted stock units not yet vested.

 

On January 1, 2024, the Company granted 20,000,000 restricted stock units to its Chief Executive Officer as part of his new employment agreement that vest in four equal installments over a 2 two-year period beginning February 1, 2024. During the three months ended March 31, 2024, 5,000,000 of these restricted stock units vested.

 

During the three months ended March 31, 2025, 5,000,000 restricted stock units vested.