INCENTIVE AND NON-STATUTORY STOCK OPTION PLAN

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

INCENTIVE AND NON-STATUTORY STOCK OPTION PLAN

NOTE 4. INCENTIVE AND NON-STATUTORY STOCK OPTION PLAN

As of December 31, 2023 and December 31, 2022, there were 42,000,000 and 5,000,000 options outstanding, respectively.

We have granted non-qualified stock options to employees and contractors. All non-qualified options are generally issued with an exercise price no less than the fair value of the common stock on the date of the grant as determined by our Board of Directors. Options may be exercised up to ten years following the date of the grant, with vesting schedules determined by us upon grant. Vesting schedules vary by grant, with some fully vesting immediately upon grant to others that ratably vest over a period of time up to five years. Standard vested options may be exercised up to three months following date of termination of the relationship unless alternate terms are specified at grant. The fair values of options are determined using the Black-Scholes option-pricing model. The estimated fair value of options is recognized as expense on the straight-line basis over the options’ vesting periods. At December 31, 2023, we had approximately $340,707 unrecognized stock-based compensation.

Stock option transactions during 2023 and 2022 were as follows:

	2023					2022
	Shares			Weighted- Average Exercise Price		Shares		Weighted- Average Exercise Price
Outstanding at Beginning of Year		5,000,000		$	0.07		-	$	-
Granted		42,000,000			0.03		5,000,000		0.07
Exercised		-			-		-		-
Forfeited or Cancelled		(5,000,000	)		0.03		-		-
Outstanding at End of Year		42,000,000			0.04		5,000,000		0.07
Options Exercisable at Year-End		17,250,000			0.03		-		-
Weighted-Average Fair Value of Options Granted During the Year	$	0.01				$	0.02

Information with respect to stock options outstanding and exercisable at December 31, 2023 is as follows:

		Options Outstanding						Options Exercisable
Range of Exercise Prices		Number Outstanding at December 31, 2023		Weighted- Average Remaining Contractual Life		Weighted- Average Exercise Price		Number Exercisable at December 31, 2023		Weighted- Average Exercise Price
$	0.025 - $0.07		42,000,000		9.2	$	0.04		17,250,000	$	0.03