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STOCK OPTIONS

3 Months Ended

Mar. 31, 2023

7. STOCK OPTIONS

As of March 31, 2023, the Board of Directors of the Company granted non-qualified stock options exercisable for a total of 854,177,778 shares of common stock to its officers, directors, and consultants.

The Company did not issue any stock options during the three months ended March 31, 2023.

We recognized stock option compensation expense of $745,448 and $736,915 for the three months ended March 31, 2023 and 2022, respectively. As of March 31, 2023, we had unrecognized stock option compensation expense totaling $3,456,718.

A summary of the Company’s stock options and warrants as of March 31, 2023, and changes during the three months then ended is as follows:

	Shares		Weighted Average Exercise Price		Weighted Average Remaining Contract Term (Years)		Aggregate Intrinsic Value

Outstanding at December 31, 2022		854,177,778	$	0.011		7.35
Granted		-	$	-
Exercised		-	$	-
Forfeited or expired		-	$	-

Outstanding as of March 31, 2023		854,177,778	$	0.011		7.10	$	-

Exercisable as of March 31, 2023		450,288,898	$	0.013		6.33	$	-

The aggregate intrinsic value in the preceding table represents the total pretax intrinsic value, based on the closing price of our common stock of $0.0006 as of March 31, 2023, which would have been received by the holders of in-the-money options and warrants had the holders exercised their options and warrants as of that date.