Quarterly report [Sections 13 or 15(d)]

Stockholders' Deficit (Tables)

v3.26.1
Stockholders' Deficit (Tables)
3 Months Ended
Mar. 31, 2026
Stockholders Equity Note [Abstract]  
Summary of assumptions used to value the warrants

The following table presents the assumptions used to value the warrants:

 

March 31, 2026

 

December 31, 2025

Stock price

 

$0.02

 

$0.01

Exercise price

 

$0.47-$0.50

 

$0.47-$0.50

Expected term

 

1.78-1.82 years

 

2.03-2.24 years

Risk-free rate

 

3.77%

 

3.48%

Dividend yield

 

 

Volatility

 

568.37%-575.98%

 

543.38%-548.72%

 

Summary of outstanding warrants

A summary of outstanding warrants as of March 31, 2026 and December 31, 2025 is presented below:

 

 

March 31, 2026

 

 

December 31, 2025

 

 

Number of Warrants

 

 

Weighted
Average
Exercise
Price

 

 

Number of Warrants

 

 

Weighted
Average
Exercise
Price

 

Warrants outstanding, beginning of year

 

1,000,000

 

 

$

0.49

 

 

 

4,625,000

 

 

$

0.81

 

Granted

 

 

 

 

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

 

 

Cancelled, forfeited and expired

 

 

 

 

 

 

 

(3,625,000

)

 

 

0.90

 

Warrants outstanding, end of year

 

1,000,000

 

 

$

0.49

 

 

 

1,000,000

 

 

$

0.49

 

Warrant exercisable, end of year

 

1,000,000

 

 

$

0.49

 

 

 

1,000,000

 

 

$

0.49

 

Summary of stock option activity

A summary of outstanding stock options as of March 31, 2026 and December 31, 2025 is presented below:

 

 

 

March 31, 2026

 

 

December 31, 2025

 

 

 

Number of
Options

 

 

Weighted‑
Average
Exercise
Price

 

 

Number of
Options

 

 

Weighted‑
Average
Exercise
Price

 

Options outstanding, beginning of year

 

 

4,664,742

 

 

$

3.60

 

 

 

5,287,284

 

 

$

3.54

 

Granted or deemed issued

 

 

 

 

 

 

 

 

50,000

 

 

$

0.01

 

Exercised

 

 

 

 

 

 

 

 

 

 

 

 

Cancelled, forfeited and expired

 

 

(105,158

)

 

 

4.88

 

 

 

(672,542

)

 

 

2.88

 

Options outstanding, end of period

 

 

4,559,584

 

 

$

3.57

 

 

 

4,664,742

 

 

$

3.60

 

Options exercisable at end of period

 

 

4,559,584

 

 

$

3.57

 

 

 

4,646,686

 

 

$

3.60

 

Options available for future grant

 

 

880,000

 

 

 

 

 

 

880,000