v3.26.1
Stockholders’ Equity (Tables)
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Schedule of assumptions used for valuating options
        
Description 

As of

December 31, 2024

  

As of

December 31, 2025

 
Expected dividend yield   0.00%    0.00% 
Expected stock volatility (a)   67.20%    129.10% 
Risk-free interest rate   5.027%    3.625% 
Expected life of options (years)   3.00 - 5.00    3.00 - 5.00 
Expected forfeiture rate   0.00%    0.00% 
Grant date fair value range per option issued  $0.1251 - 0.1251   $0.3197 - 0.4020 

 

  (a) At the time of determination of expected stock volatility, the Company’s securities were trading over-the-counter as an OTCQB traded stock, but for less than two years and under limited trading volume such that calculated volatility based solely on the Company’s volatility isn’t necessarily indicative of the expected volatility over the expected life of the options and RSUs. Therefore, the expected stock volatility was estimated using three public companies in the same industry as the Company and calculating an equal-weighted and blended volatility of the Company’s volatility and the volatility of those three believed-to-be-representative companies over the same period.
Schedule of changes in stock options outstanding
        
  

Options Outstanding

Number of Shares

   Weighted Average Exercise Price 
Balance, December 31, 2023   6,661,254   $0.21 
Issued   125,000   $0.26 
Expired/Forfeited   –    n/a 
Exercised   –    n/a 
Balance, December 31, 2024   6,786,254   $0.21 
Issued   695,000   $0.49 
Expired/Forfeited   (56,250)   0.50 
Exercised   –    n/a 
Balance, December 31, 2025   7,425,004   $0.23 
Schedule of options outstanding and exercisable
                                                     
        December 31, 2025   December 31, 2024  
Issue Date   Expiry Date   Exercise Price   Stock Options Outstanding   Stock Options Exercisable   Remaining Life   Exercise Price   Stock Options Outstanding   Stock Options Exercisable   Remaining Life  
May 24, 2022   May 24, 2032   $ 0.20     4,931,250     4,931,250     6.40   $ 0.20     4,931,250     4,931,250     7.40  
June 1, 2022   June 1, 2032   $ 0.20     80,004     80,004     6.42   $ 0.20     80,004     80,004     7.42  
July 15, 2022   July 15, 2032   $ 0.20     450,000     450,000     6.55   $ 0.20     450,000     450,000     7.54  
July 28, 2022   July 28, 2032   $ 0.20     150,000     150,000     6.58   $ 0.20     150,000     150,000     7.58  
July 1, 2023   July 1, 2033   $ 0.26     750,000     750,000     7.51   $ 0.26     750,000     496,875     8.50  
July 7, 2023   July 7, 2033   $ 0.26     300,000     300,000     7.52   $ 0.26     300,000     187,500     8.52  
January 25, 2024   January 25, 2034   $ 0.26     75,000     75,000     8.08   $ 0.26     75,000     75,000     9.07  
February 13, 2024   February 13, 2034   $ 0.26     50,000     50,000     8.13   $ 0.26     50,000     50,000     9.13  
January 17, 2025   January 17, 2035   $ 0.50     588,750     341,250     9.05   $ n/a      –     –     n/a  
July 29, 2025   July 29, 2035   $ 0.37     50,000     50,000     9.58     n/a      –     –     n/a  
Totals and Weighted Averages Outstanding       $ 0.23     7,425,004     7,177,504     6.83   $ 0.21     6,786,254     6,420,629     7.61