Note 15. Share-Based Compensation and Warrants

The Company maintains the 2023 Equity and Incentive Plan (the “2023 Plan”), pursuant to which the Company may grant stock options, restricted stock awards, restricted stock units, and other equity-based awards to employees, directors, consultants, and service providers.

During the three and six months ended June 30, 2026, the Company issued an aggregate of 34,990 and 36,816, respectively, shares of common stock as stock-based compensation to employees, directors and consultants. During the three and six months ended June 30, 2025, the Company issued an aggregate of 95 and 345, respectively, shares of common stock as stock-based compensation to employees, directors and consultants. For the three and six months ended June 30, 2026, the Company recognized stock-based compensation expense of $337,500 and $675,000, respectively. For the three and six months ended June 30, 2026, the Company recognized consulting stock-based compensation expense of $702,515 and $702,515, respectively. For the three and six months ended June 30, 2025, the Company recognized stock-based compensation expense of $188,927 and $690,350, respectively. For the three and six months ended June 30, 2025, the Company recognized consulting stock-based compensation expense of $162,735 and $462,735, respectively.

There were no other options or awards granted during the three and six months ended June 30, 2026. The following table summarizes all stock option activity of the Company for the six months ended June 30, 2026 and 2025:

The Company maintains the 2025 Equity and Incentive Plan (the “2025 Plan”), pursuant to which the Company may grant stock options, restricted stock awards, restricted stock units, and other equity-based awards to employees, directors, consultants, and service providers. No awards have been granted under the 2025 Plan.