| SCHEDULE OF BLACK-SCHOLES OPTION PRICING MODELS FOR WARRANT-BASED STOCK COMPENSATION |
The
following ranges of assumptions were used in calculations of the Black-Scholes option pricing models for option and warrant-based stock
compensation issued in the years ended December 31, 2025 and December 31, 2024:
SCHEDULE OF BLACK-SCHOLES OPTION PRICING MODELS FOR WARRANT-BASED STOCK COMPENSATION
| |
|
|
2025 |
|
|
|
2024 |
|
| Stock
price |
|
$ |
0.104
- $0.176 |
|
|
$ |
0.061
- $0.125 |
|
| Risk-free
interest rate |
|
|
3.65%
- 4.54 |
% |
|
|
3.74%
- 4.70 |
% |
| Expected
term (in years) |
|
|
5.0
to 10.0 |
|
|
|
2.0
to 10.0 |
|
| Expected
share price volatility |
|
|
104.26%
- 109.69 |
% |
|
|
89.73%
- 113.72 |
% |
| Expected
dividend yield |
|
|
0.0%
- 0.0 |
% |
|
|
0.0%
- 0.0 |
% |
|
| SCHEDULE OF OPTION ACTIVITY |
Warrant
activity for the years ending December 31, 2025 and 2024 is as follows:
SCHEDULE OF WARRANT ACTIVITY
| | |
Number of
Warrants | | |
Weighted Average
Exercise Price | |
| | |
| | |
| |
| Balance, December 31, 2023 | |
| 24,015,976 | | |
| 0.22 | |
| Issued in connection with: | |
| | | |
| | |
| Common stock units sold for cash | |
| 1,970,000 | | |
| 0.15 | |
| Services | |
| 303,500 | | |
| 0.11 | |
| Debt-related interest | |
| 180,000 | | |
| 0.15 | |
| Debt conversion | |
| 3,125,000 | | |
| 0.10 | |
| Expired or rescinded | |
| (3,397,981 | ) | |
| 0.09 | |
| Exchanged for stock options | |
| 1,250,000 | | |
| 0.20 | |
| Balance, December 31, 2024 | |
| 27,446,495 | | |
$ | 0.21 | |
| Issued in connection with: | |
| | | |
| | |
| Common stock units sold for cash | |
| 6,830,000 | | |
| 0.16 | |
| Services | |
| 266,000 | | |
| 0.12 | |
| Debt-related interest | |
| 250,000 | | |
| 0.15 | |
| Debt conversion | |
| 625,000 | | |
| 0.10 | |
| Expired | |
| (500,000 | ) | |
| 0.20 | |
| Exercised | |
| (750,000 | ) | |
| 0.09 | |
| Balance, December 31, 2025 | |
| 34,167,495 | | |
| 0.20 | |
|
| SCHEDULE OF OPTION ACTIVITY |
Stock
option activity for the years ending December 31, 2025, and 2024 is as follows:
SCHEDULE OF OPTION ACTIVITY
| | |
Number of Options | | |
Weighted Average Exercise Price | |
| Balance, December 31, 2023 | |
| 61,555,000 | | |
| 0.15 | |
| Options granted | |
| 29,166,571 | | |
| 0.11 | |
| Options expired | |
| (500,000 | ) | |
| 0.05 | |
| Exchanged for warrant | |
| (1,250,000 | ) | |
| 0.20 | |
| Balance, December 31, 2024 | |
| 88,971,571 | | |
$ | 0.13 | |
| Options granted | |
| 12,774,470 | | |
| 0.12 | |
| Options expired | |
| (3,658,335 | ) | |
| 0.15 | |
| Options exercised | |
| (650,000 | ) | |
| 0.06 | |
| Balance, December 31, 2025 | |
| 97,437,706 | | |
| 0.13 | |
| Vested, December 31, 2025 | |
| 47,459,324 | | |
$ | 0.13 | |
|