STOCK BASED COMPENSATION

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

STOCK BASED COMPENSATION

10. STOCK BASED COMPENSATION

During the three months ended March 31, 2026 and 2025, the Company recognized stock based compensation associated with stock options as follows:

	March 31, 2026		March 31, 2025
Line item on the statement of operations and comprehensive income (loss):
Wages, administrative salaries and benefits	$	87,443	$	79,740
Professional fees		22,330		18,180
	$	109,773	$	97,920

The following table summarizes the Company’s stock option activities for the three months ended March 31, 2026 and the full year ended December 31, 2025:

	Number of shares			Exercise price per share		Weighted average exercise price
Balance, December 31, 2024		1,850,000		$	2.00 – 4.05	$	2.68
Granted		66,000		$	7.00	$	7.00
Cancelled or expired		(5,000	)	$	2.00 – 3.61	$	2.84
Exercised		(212,000	)	$	2.00 – 3.61	$	2.80
Balance, December 31, 2025		1,699,000		$	2.00 – 7.00	$	2.83
Exercised		(15,000	)	$	2.44 – 4.05	$	3.35
Balance, March 31, 2026		1,684,000		$	2.00 – 7.00	$	2.84
Exercisable, March 31, 2026		1,068,000		$	2.00 – 7.00	$	2.75

During the three months ended March 31, 2026 and 2025, the Company did not grant any stock based compensation to employees or consultants.

As of March 31, 2026, the weighted-average remaining contractual life of outstanding and exercisable options is 2.5 years and 2.3 years, respectively. As of March 31, 2026, there was approximately $302,111 of compensation expense related to non-vested options that is expected to be recognized over a weighted average period of 1.2 years.

The aggregate intrinsic value of options outstanding and exercisable at March 31, 2026 is $4,317,960 and $2,832,560, respectively. During the three months ended March 31, 2026, the intrinsic value of stock options exercised was $49,000 (2025 - $419,350).

During the year ended December 31, 2025, the Company granted 50,000 shares as a stock award. The total fair value of the stock award was $350,000 with 10,000 shares vested upon issuance and 10,000 shares vest on each anniversary date through 2029. As of March 31, 2026, there was approximately $217,440 of compensation related to the 40,000 non-vested shares of the stock award that is expected to be recognized through 2029.