NOTE
14 – STOCK-BASED COMPENSATION
The
Company accounts for its stock-based compensation in accordance with the fair value recognition of ASC 718.
2024
Stock Incentive Plan
The
Company did not grant options during the three months June 30, 2025 or 2024.
Compensation-based
stock option activity for qualified and unqualified stock options are summarized below:
SCHEDULE OF OPTION ACTIVITY
| | |
Number of Options | | |
Weighted Average Exercise Price | | |
Weighted Average Remaining Life In Years | | |
Intrinsic Value | |
| Outstanding, December 31, 2024 | |
| 22,620 | | |
$ | 46.50 | | |
| | | |
| - | |
| Granted | |
| - | | |
| 0 | | |
| | | |
| | |
| Exercised | |
| - | | |
| 0 | | |
| | | |
| | |
| Forfeited | |
| - | | |
| 0 | | |
| | | |
| | |
| Outstanding, June 30, 2025 | |
| 22,620 | | |
$ | 46.50 | | |
| 4.25 | | |
$ | - | |
| Exercisable, June 30, 2025 | |
| 22,070 | | |
$ | 46.50 | | |
| 4.25 | | |
$ | - | |
The
following table summarizes information about options to purchase shares of the Company’s Class A common stock outstanding and exercisable
at June 30, 2025:
SCHEDULE OF STOCK OPTIONS OUTSTANDING AND EXERCISABLE
| Options Outstanding | | |
Options Exercisable | |
| Exercise Price | | |
Outstanding Number of Options | | |
Weighted Average Remaining Life In Years | | |
Exercisable Number of Options | |
| $ | 46.50 | | |
| 22,620 | | |
| 4.25 | | |
| 22,070 | |
| | | | |
| 22,620 | | |
| | | |
| 22,070 | |
Total
compensation expense related to options was $3,342 and $6,684 for the three and six months ended June 30, 2025. As of June 30, 2025,
there was future compensation cost of $4,456 with a weighted average recognition period of 0.50 years.
The
aggregate intrinsic value totaled $0 and was based on the Company’s closing stock price of $5.72 as of June 30, 2025, which would
have been received by the option holders had all option holders exercised their options as of that date.
Stock-Based
Compensation Expense
The
following table presents information related to stock-based compensation expense:
SCHEDULE OF STOCK-BASED COMPENSATION EXPENSE
| | |
For
the Three
Months Ended | | |
Unrecognized
at | | |
Weighted
Average Remaining Amortization | |
| | |
June
30, 2025 | | |
June
30, 2025 | | |
Period
(Years) | |
| General and administrative | |
$ | 3,342 | | |
$ | 4,456 | | |
| 0.50 | |
| Total | |
$ | 3,342 | | |
$ | 4,456 | | |
| 0.50 | |
| | |
For
the Six
Months Ended | | |
Unrecognized
at | | |
Weighted
Average Remaining Amortization | |
| | |
June
30, 2025 | | |
June
30, 2025 | | |
Period
(Years) | |
| General and administrative | |
$ | 6,684 | | |
$ | 4,456 | | |
| 0.50 | |
| Total | |
$ | 6,684 | | |
$ | 4,456 | | |
| 0.50 | |
|