EQUITY INCENTIVE PLAN (Tables)

6 Months Ended

Jun. 30, 2026

Stock option activity for the six months ended June 30, 2026 was as follows:


	Number of	Weighted Average
	Shares	Exercise Price
Outstanding as of December 31, 2025	96,150,750	$	1.08
Exercised	(750)	0.44
Granted	17,220,000	0.35
Forfeitures	(14,387,500)	1.04
Expired	(12,500)	1.10
Outstanding as of June 30, 2026	98,970,000	$	0.37

Schedule of Stock Options Outstanding and Exercisable

The following table summarizes information about stock options outstanding and exercisable as of June 30, 2026:


Range of Exercise Prices	Number Outstanding	Weighted Average Remaining Life In Years	Weighted Average Exercise Price Outstanding		Number Exercisable	Weighted Average Exercise Price Exercisable
$0.33	6,750,000	10.00	$	0.33	—	$	0.33
$0.37	92,220,000	9.72	$	0.37	9,235,000	$	0.37
	98,970,000	9.73	$	0.37	9,235,000	$	0.37

Schedule of Significant Weighted-Average Assumptions

The significant weighted average assumptions relating to the valuation of the Company’s stock option grants issued and repriced during the six months ended June 30, 2026 were as follows:


Assumptions
Dividend yield	—	%
Exercise price	$0.37
Expected term	5.6 years
Expected volatility	70.6	%
Risk free interest rate	4.0	%