v3.26.1
OPTIONS
 6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
OPTIONS

NOTE 12 – OPTIONS

 

The Plan allows for and the Company maintains stock option award agreements under which certain employees may be awarded option grants based on a combination of performance and tenure. The number of shares available to grant to employees under the Plan is 5,000,000.

 

The Board and stockholders approved an amendment to the Plan increasing the available shares under the Plan to 5,000,000 shares of the Common Stock as such common stock existed on July 24, 2024.

 

Total compensation cost related to stock options granted was $0 for both the three and six months ended June 30, 2026, and $162,438 and $162,874 for the three and six months ended June 30, 2025, respectively.

 

On September 17, 2025, the Company cancelled 2,000,000 stock options and granted the related option holders 2,000,000 shares of common stock. This modification resulted in the Company recognizing the remaining expense under the original option and an additional incremental consideration as a result of the modification. Total stock-based compensation cost as a result of this transaction was $1,512,995.

 

The following table represents stock option activity for the six-month period ended June 30, 2026:

 

   Number Outstanding   Weighted-Average Exercise Price   Weighted-Average Contractual Life in Years   Intrinsic Value 
Options outstanding as of December 31, 2025   19,899   $29.58    2.23   $       - 
Options granted   -    -    -    - 
Options cancelled   -    -    -    - 
Forfeited/expired   (894)   82.06    -    - 
Options exercised   -    -    -    - 
Options outstanding as of June 30, 2026   19,005   $27.11    1.82   $- 
Options exercisable as of June 30, 2026   19,005   $27.11    1.82    -