Note 5.  Stock Options

Pursuant to an amendment on March 15, 2022, the aggregate number of shares that may be issued under the 2017 Stock Option and Stock Bonus Plan (the “2017 Plan”) is 97,700,000 shares, subject to adjustment as provided therein. The 2017 Plan is administered by the Company’s Board of Directors, or a committee appointed by the Board of Directors, and includes two types of options. Options intended to qualify as incentive stock options under Section 422 of the Internal Revenue Code of 1986, as amended, are referred to as incentive options. Options that are not intended to qualify as incentive options are referred to as non-qualified options. The exercise price of an option may be paid in cash, in shares of the Company's common stock or other property having a fair market value equal to the exercise price of the option, or in a combination of cash, shares, other securities and property.

As of March 31, 2025, there are 94,790,000 options granted and outstanding under the 2017 Plan.

Total share-based compensation for stock options granted during the three-month period ended March 31, 2025 was $Nil 0 (2024 - $nil 0).

Stock option transactions are summarized as follows: 

The following non-qualified stock options were outstanding and exercisable at March 31, 2025:

As at March 31, 2025, the aggregate intrinsic value of the Company’s stock options is $Nil 0 (March 31, 2024 – $Nil 0). The weighted average fair value of stock options granted during the three-month period ended March 31, 2025 is $Nil 0 (2024 - $Nil 0).