Note 10. Stock-based Compensation

During the six-month periods ended June 30, 2026 and 2025, there was no stock-based compensation associated with stock options. The Company issued 100,000 shares of common stock for services during each of the years ended December 31, 2025 and 2024. A portion of these shares related to services that had not yet been performed at the time of issuance and were recorded as prepaid expenses. Such prepaid amounts were subsequently recognized as expense as the related services were performed. Accordingly, the Company recognized $1,888 of expense in each three-month period ended June 30, 2026 and 2025 associated with shares issued for services in research and development, and $0 and $5,250, respectively, in general and administrative expense. The Company recognized $3,776 of expense in each six-month period ended June 30, 2026 and 2025 associated with shares issued for services in research and development, and $1,750 and $8,750, respectively, in general and administrative expense.

There were no options granted during the six months ended June 30, 2026 and 2025. There were no options exercised, forfeited or cancelled during either period but all options expired during the year ended December 31, 2025.

Options outstanding at June 30, 2025 consist of:

Schedule of Options Outstanding and Exercisable

During the quarter ended June 30, 2025, 150,000 outstanding options expired and 650,000 outstanding options expired during the six months ended June 30, 2025.

Warrants outstanding at June 30, 2026 consist of:

Schedule of Warrants Outstanding and Exercisable

Warrants outstanding at June 30, 2025 consist of: