v3.25.1
STOCK-BASED COMPENSATION
 3 Months Ended
Mar. 31, 2025
Equity [Abstract]  
STOCK-BASED COMPENSATION

NOTE 8 – STOCK-BASED COMPENSATION

 

Stock Options

Summary information regarding stock options as of and during the three months ended March 31, 2025 is as follows:

 

Schedule of number of share options and the weighted average exercise price outstanding                        
    Options
(Number)		     Weighted Average
Exercise Price
per share
($)		     Weighted Average
Remaining
Contractual Life
(Years)		  
As at January 1, 2025     83,800       37.21       2.33  
Granted     -       -          
Exercised     -       -          
Forfeited / Expired     -       -          
As at March 31, 2025     83,800       37.21       2.09  
Exercisable as at March 31, 2025     71,556       41.12       1.86  

 

During the three months ended March 31, 2025, we recognized $36,646 of expense related to stock options. As of March 31, 2025, the aggregate intrinsic value for all options outstanding as well as all options exercisable was zero, and unrecognized stock option expense of approximately $97,000 remains to be recognized over the next 0.76 years.

 

Restricted Stock Units

During the three months ended March 31, 2025, we recognized $140,930 of expense related to restricted stock units that were awarded to the Company’s officers, management, and non-management employees in the fourth quarter of 2024. As of March 31, 2025, unrecognized restricted stock unit expense of approximately $1,284,000 remains to be recognized over of the next 2.30 years.

 

During the three months ended March 31, 2024, we recognized $5,075 of expense related to restricted stock units that were awarded to an influencer in 2023. As of March 31, 2025, no expense remains to be recognized related to this award.

 

Stock Grant

On April 1, 2024, we entered into a brand ambassador agreement with an individual for a two-year term. As compensation for the first year of the agreement, we issued the individual 4,500 shares of our common stock. The value of the consideration transferred, measured using the fair value of our common stock at the date of issuance, was $21,690. During the three months ended March 31, 2025 and 2024, we recognized $5,423 and $5,422, respectively, of expense related to this arrangement.