NOTE 8 – STOCK OPTIONS

 

On January 3, 2024, the Company granted stock options to purchase 20,000 shares of common stock pursuant to the terms of the Company’s employment agreement with Mr. Yakov. 50% of the options vested immediately, 25% of the options vest on the one-year anniversary of the grant, and 25% of the options vest on the two-year anniversary of the grant. The options have an exercise price of $0.10 per share. The aggregate fair value of the options totaled $541,999 based on the Black Scholes Merton pricing model using the following estimates: exercise price of $0.01 (pre-split pricing), 1.63% risk free rate, 295% volatility and expected life of the options of 10 years. The fair value of the options will be recognized over the vesting period with credits to additional paid in capital.

 

On January 24, 2024, Mr. Yakov exercised options to purchase a total of 118,792 shares of common stock for $4,079 (see Note 11 and Note 13). 

 

On January 24, 2024, Mr. Smith exercised options to purchase a total of 38,107 shares of common stock for $2,761 (see Note 11 and Note 13).

 

A summary of the status of the Company’s outstanding stock options and changes is presented below:

 

Stock Options  Options   Weighted
Average
Exercise
Price
   Aggregate
Intrinsic
Value
 
Options outstanding December 31, 2023   156,899   $0.04   $1,656,270 
Granted   20,000   $0.10      
Exercised   (156,899)  $0.04      
Expired   
   $
      
Options outstanding December 31, 2024   20,000   $0.10   $39,400 
Granted   
    
 
      
Exercised   
    
 
      
Expired   
    
 
      
Options outstanding December 31, 2025   20,000   $0.10   $10,388 
Shares exercisable at December 31, 2025   20,000   $0.10   $10,388 

 

During the years ended December 31, 2025 and 2024, the Company recognized $135,500 and $406,500, respectively, in stock-based compensation related to the above-mentioned options. As of December 31, 2025 there was $0 of unrecognized expense for the above-mentioned options. The weighted average contractual term of the options outstanding and of the option exercisable were 8.01 years. 

Historical Timeline

Fiscal YearFiled
2025Apr 1, 2026Showing above
2024Apr 15, 2025

About Stock Compensation Disclosures

Stock-based compensation disclosures detail the equity awards granted to employees and executives — including stock options, restricted stock units (RSUs), and performance shares — along with the valuation methods and assumptions used to expense them. This section reveals the true cost of talent retention and the alignment between management incentives and shareholder interests.

Key signals: total unrecognized compensation expense and its expected recognition period signal future earnings headwinds from already-granted awards. For stock options, examine Black-Scholes assumptions — expected volatility, risk-free rate, and expected term — as understating any of these reduces reported compensation expense. Compare stock compensation expense as a percentage of revenue against peers to assess dilution cost. Watch vesting schedules for acceleration clauses tied to change-of-control events. Performance-based awards with undemanding targets may indicate weak governance. Add back stock compensation to operating cash flow to calculate a more conservative free cash flow figure.