v3.26.1
Stockholders’ Equity (Tables)
 6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Schedule of assumptions used for valuating options
    
Description 

As of

June 30, 2025

 
Expected dividend yield   0.00% 
Expected stock volatility (a)   110.43% 
Risk-free interest rate   4.027% 
Expected life of options (years)   3.00 - 5.00 
Expected forfeiture rate   0.00% 
Grant date fair value range per option issued   $0.3405 - 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, 2024   6,786,254   $0.21 
Issued   645,000   $0.49 
Expired/Forfeited   (56,250)   0.50 
Exercised   –    n/a 
Balance, December 31, 2025   7,425,004   $0.23 
Issued   –   $n/a 
Expired/Forfeited   –   $n/a 
Exercised   –    n/a 
Balance, March 31, 2026   7,425,004   $0.23 
Issued   –    n/a 
Expired/Forfeited   –    n/a 
Exercised   –    n/a 
Balance, June 30, 2026   7,425,004   $0.23 
Schedule of options outstanding and exercisable
                                    
      June 30, 2026   June 30, 2025 
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    5.91   $0.20    4,931,250    4,931,250    6.91 
June 1, 2022  June 1, 2032  $0.20    80,004    80,004    5.93   $0.20    80,004    80,004    6.93 
July 15, 2022  July 15, 2032  $0.20    450,000    450,000    6.05   $0.20    450,000    450,000    7.05 
July 28, 2022  July 28, 2032  $0.20    150,000    150,000    6.08   $0.20    150,000    150,000    7.08 
July 1, 2023  July 1, 2033  $0.26    750,000    750,000    7.01   $0.26    750,000    412,500    8.01 
July 7, 2023  July 7, 2033  $0.26    300,000    300,000    7.03   $0.26    300,000    150,000    8.03 
January 25, 2024  January 25, 2034  $0.26    75,000    75,000    7.58   $0.26    75,000    56,250    8.58 
February 13, 2024  February 13, 2034  $0.26    50,000    50,000    7.63   $0.26    50,000    37,500    8.63 
January 17, 2025  January 17, 2035  $0.50    588,750    465,000    8.56   $0.50    645,000    90,000    9.56 
July 29, 2025  July 29, 2035  $0.37    50,000    50,000    9.09    n/a     –    –    n/a 
Totals and Weighted Averages Outstanding  $0.23    7,425,004    7,301,254    6.34   $0.21    7,431,254    6,632,504    7.33