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 $307,439 and $25,584 for the years ended December 31, 2025, and 2024, 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 years ended December 31, 2025 and 2024:

  

  

Number

Outstanding

  

Weighted-

Average

Exercise Price

  

Weighted-

Average

Contractual Life in Years

  

Intrinsic

Value

 
Options outstanding as of December 31, 2024   23,930   $   42.16    2.73   $- 
Options exercisable as of December 31, 2024   23,930    42.16    1.83    - 
Options granted   2,250,000    0.78    9.79    585,000 
Options cancelled   (2,000,000)   0.78    -    - 
Forfeited/expired   (254,031)   2.42    -    - 
Options exercised   -    -    -    - 
Options outstanding as of December 31, 2025   19,899   $29.58    2.23   $- 
Options exercisable as of December 31, 2025   19,899   $29.58    2.23    - 

 

 

Historical Timeline

Fiscal YearFiled
2025Mar 30, 2026Showing above
2024Mar 26, 2025
2023Apr 22, 2024
2022Mar 27, 2023

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.