v3.25.2
Stock-Based Compensation
 3 Months Ended
Mar. 31, 2025
Stock-Based Compensation [Abstract]  
STOCK-BASED COMPENSATION

NOTE 9 – STOCK-BASED COMPENSATION

 

During the three months ended March 31, 2025, and 2024, stock-based compensation was recognized as follows:

 

   March 31,   March 31, 
   2025   2024 
Professional fees -restricted stock awards  $
-
   $153,000 
   $
-
   $153,000 

 

The Company valued compensation expenses to employees based on fair value of common stock using a weighted average price of shares issued to unrelated parties for cash and compensation multiplied by the number of shares issued to the employees.

 

Warrants

 

During the three months ended March 31, 2025, the Company did not issue warrants. During the year ended December 31, 2024, the Company issued warrants as follows;

 

  ● 1,609,900 series A warrants with exercise price of $5.53 and the term of 5 years

 

  ● 1,610,000 series B warrants with exercise price of $8.50 and the term of 5 years

 

  ● 495,076 Series C warrants with exercise price of $8.50 and the term of 5 years 

 

A summary of the activity of the warrants during the three months ended March 31, 2025, as follows:

 

   Warrants Outstanding   Weighted Average 
   Number of   Weighted Average   Remaining
life		 
   Warrants   Exercise Price   (years) 
Outstanding, December 31, 2024   1,846,352   $5.48    3.73 
Granted   
-
    
-
    
-
 
Expired / cancelled   
-
    
-
    
-
 
Exercised   (36,300)   8.50    
-
 
Outstanding, March 31, 2025   1,810,052   $5.42    3.47 

 

The intrinsic value of the warrants as of March 31, 2025, is $0. All the outstanding warrants are exercisable as of March 31, 2025.