NON-STATUTORY STOCK OPTIONS

9 Months Ended

Sep. 30, 2024

Share-Based Payment Arrangement [Abstract]

NON-STATUTORY STOCK OPTIONS

NOTE 4. NON-STATUTORY STOCK OPTIONS

As of September 30, 2024 and December 31, 2023, there were 147,200,000, and 42,000,000 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 September 30, 2024 and December 31, 2023, we had approximately $4.3 million and $2.78 million unrecognized stock-based compensation, respectively.

Stock option transactions during the nine months ended September 30, 2024 and the year ended December 31, 2023 were as follows:

	September 30, 2024					December 31, 2023
	Shares			Weighted- Average Exercise Price		Shares			Weighted- Average Exercise Price
Outstanding at Beginning of Period		42,000,000		$	0.04		5,000,000		$	0.07
Granted		109,200,000			0.96		42,000,000			0.03
Exercised		-			-		-			-
Forfeited or Cancelled		(4,000,000	)		0.05		(5,000,000	)		0.03
Outstanding at End of Period		147,200,000			0.72		42,000,000			0.04
Weighted-Average Fair Value of Options Granted During the Period	$	0.02				$	0.01

Information with respect to stock options outstanding and exercisable at September 30, 2024 is as follows:

		Options Outstanding						Options Exercisable
Range of Exercise Prices		Number Outstanding at September 30, 2024		Weighted- Average Remaining Contractual Life		Weighted- Average Exercise Price		Number Exercisable at September 30, 2024		Weighted- Average Exercise Price
$	0.025 - $1.50		147,200,000		9 years	$	0.72		27,450,000	$	0.03