Stock Options

6 Months Ended

Apr. 30, 2025

Stock Options [Abstract]

STOCK OPTIONS

NOTE 12 – STOCK OPTIONS

The Company has one stock option plan under which equity securities are authorized for issuance to officers, directors, employees and advisors: the 2019 Stock Option and Stock Bonus Plan (the “2019 Plan”). The 2019 Plan was amended on April 19, 2022 (the “Amended 2019 Plan”). Under the Amended 2019 Plan, 10% of the total shares outstanding are reserved for issuance upon the exercise of options or the grant of stock bonuses, to a maximum of 15,000,000 shares.

Options are typically granted with an exercise price equal to the closing market price of the Company’s stock at the date of grant, have a graded vesting schedule over two years and have a contractual term of five years.

No options were granted or exercised during the six months ended April 30, 2025.

On January 30, 2024, the Company granted options to acquire 2,425,000 shares of common stock with a weighted-average grant-date fair value of $0.06 per share and an exercise price of $CDN 0.16 per share.

No options were exercised during the six months ended April 30, 2024.

A summary of the range of assumptions used to value stock options granted for the six months ended April 30, 2025 and 2024 are as follows:

	Six Months Ended April 30,
Options	2025	2024
Expected volatility	—	74% – 78%
Risk-free interest rate	—	4.12% – 4.25%
Dividend yield	—	—
Expected term (in years)	—	2.50 – 3.50

The expected volatility assumption is based on the historical of common stock price. The risk-free interest rate assumption is based on yield curves on government zero-coupon bonds with a remaining term equal to the stock options’ expected life. The Company has not paid and does not anticipate paying dividends on its common stock. Companies are required to utilize an estimated forfeiture rate when calculating the expense for the reporting period. Based on the best estimate, the Company applied the estimated forfeiture rate of 0% in determining the expense recorded in the accompanying condensed interim consolidated statements of operations and comprehensive loss.

The following is a summary of stock option activity for the six months ended April 30, 2025:

Options		Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)		Aggregate Intrinsic Value
	Outstanding at October 31, 2024		4,725,000	$	0.16		3.16	$	—
	Outstanding at April 30, 2025		4,725,000		0.16		2.66		—
	Exercisable at April 30, 2025		3,916,666	$	0.18		2.51	$	—

The Company recognized stock-based compensation costs for stock options of $21,329 and $82,068 for the six months ended April 30, 2025 and 2024, respectively. As of April 30, 2025, there was $17,172 of total unrecognized compensation expense.

Summarized information about stock options outstanding and exercisable at April 30, 2025 is as follows:

	Options Outstanding					Options Exercisable
	Exercise Price	Number Outstanding	Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price	Number Exercisable		Weighted Average Exercise Price
$	0.22	2,150,000	1.81	$	0.22	2,150,000	$	0.22
	0.13	150,000	2.87		0.13	150,000		0.13
	0.12	2,425,000	3.41		0.12	1,616,666		0.12
$	0.16	4,725,000	2.66		0.16	3,916,666		0.17