Note 11 - Stockholders' Equity |
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Jun. 30, 2025 | ||||||||||||||||||||||||||
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| Equity [Text Block] |
NOTE 11 – STOCKHOLDERS’ EQUITY
Conversion of Series A Preferred Shares
During the six months ended June 30, 2025, the Company issued approximately 127,000 shares of Common Stock upon conversion of 564 shares of Series A Preferred.
Common Stock Warrants
On January 7, 2025, the Company issued 3,700,000 warrants along with a promissory note to a third-party vendor to settle the outstanding accounts payable. Each warrant entitles the holder to purchase one share of the Company’s common stock at an exercise price of $0.10 per share. The warrants vest immediately, and are exercisable through December 30, 2027, and are subject to the terms and conditions of the warrant agreement.
The fair value of the warrants on the issuance date was $148,000 and was determined using the Black-Scholes option pricing model with the following assumptions:
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