STOCKHOLDERS’ EQUITY

9 Months Ended

Sep. 30, 2024

Equity [Abstract]

STOCKHOLDERS’ EQUITY

NOTE 3 – STOCKHOLDERS’ EQUITY

On January 29, 2024, we issued 12,500 shares valued at $250,000 as a retainer pursuant to our engagement of Anglo-Chinese Financial as our investment banker.

On March 5, 2024, we sold 1,400 shares of our common stock for $28,000 in a private transaction. We did not pay commissions or finder’s fees and are using the proceeds for working capital.

On March 25, 2024, we sold 14,250 shares of our common stock for $285,000 in a private transaction. We did not pay commissions or finder’s fees and are using the proceeds for working capital.

On April 24, 2024, we issued 713 shares of our common stock to an unrelated third party as compensation for their consulting services. The stock was valued at $14,260.

On May 7, 2024, we sold 25,000 shares of our common stock for $500,000 in a private transaction. We did not pay a commission or finder’s fee and are using the proceeds for working capital.

On May 24, 2024, we sold 50,000 shares of our common stock for 1,000,000 in private transactions. We did not pay a commission or finder’s fee and are using the proceeds for working capital.

On June 27, 2024, we sold 113,000 shares of our common stock for $2,260,000 in private transactions. We did not pay a commission or finder’s fee and are using the proceeds for working capital.

On July 8, 2024, we sold 25,000 shares of our common stock for $500,000 in private transactions. We did not pay a commission or finder’s fee and are using the proceeds for working capital.

On July 25, 2024, we sold 18,750 shares of our common stock for $375,000 in private transactions. We did not pay a commission or finder’s fee and are using the proceeds for working capital.

On August 8, 2024 we sold 7,500 shares of our common stock for $150,000 in a private transaction. We did not pay a commission or finder’s fee and are using the proceeds for working capital.

On August 12, 2024, we issued 206,750 shares of our common stock in total to 20 individuals for their consulting services. The stock was valued at $4,135,000.

On September 3, 2024, we sold 10,000 shares of our common stock for $200,000 in a private transaction. We did not pay a commission or finder’s fee and are using the proceeds for working capital.

On September 18, 2024, we sold 500 shares of our common stock for $10,000 in a private transaction. We did not pay a commission or finder’s fee and are using the proceeds for working capital.

On September 18, 2024, we issued 19,500 shares of our common stock in total to three individuals for their consulting services. The stock was valued at $390,000.

On February 16, 2023, we sold 7,500 shares of our common stock for $150,000 in a private transaction. We did not pay a commission or finder’s fee and are using the proceeds for working capital.

On March 9, 2023, we sold 1,500 shares of our common stock for $30,000 in a private transaction. We did not pay a commission or finder’s fee and are using the proceeds for working capital.

On June 15, 2023, we sold 9,750 shares of our common stock for $195,000 in private transactions. We did not pay a commission or finder’s dee and are using the proceeds for working capital.

On June 30, 2023, we sold 10,000 shares of our common stock for $200,000 in a private transaction. We did not pay a commission or finder’s fee and are using the proceeds for working capital.

On July 6, 2023, we sold 25,000 shares of our common stock for $500,000 in a private transaction. We did not pay a commission or finder’s fee and are using the proceeds for working capital.

On August 4, 2023, we sold 16,000 shares of our common stock for $320,000 in a private transaction. We did not pay commissions or finder’s fees and are using the proceeds for working capital.

On August 28, 2023, we sold 5,000 shares of our common stock for $100,000 in a private transaction. We did not pay commissions or finder’s fees and are using the proceeds for working capital.

On September 12, 2023, we sold 1,250 shares of our common stock for $25,000 in a private transaction. We did not pay commissions or finder’s fees and are using the proceeds for working capital.

On September 15, 2023, we sold 20,000 shares of our common stock for $400,000 in two private transactions. We did not pay commissions or finder’s fees and are using the proceeds for working capital.

On September 1, 2024, in line with the Company’s 2019 Equity Compensation Plan, 117,500 non-qualified stock options were granted to consulting engineers for services provided. These options have a 12 month vesting period and have an exercise price of $20.00 per share. Under the Black-Scholes option pricing model, the fair value of the 117,500 options is estimated at $1,426,607 on the date of grant using the following assumptions: stock price of $20.00 at the grant date, exercise price of the option of $20.00, option term of 5 years, volatility rate of 69.50%, and discount rate of 4.15%. We recognized $118,884 of the expense in the third quarter of 2024. The unrecognized portion is expected to be recognized to expense over the next four quarters.

For the nine month period ended September 30, 2024, stock option expense totaled $705,030 compared to $1,109,603 for the same period in 2023. As of September 30, 2024, the Company had 26,679,383 shares of common stock issued and outstanding.

The following table represents option activity for the nine months ended September 30, 2024:

	Number of Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life in Years		Aggregate Intrinsic Value
Outstanding - December 31, 2023		1,983,574	$	8.10		3.99
Exercisable - December 31, 2023		1,470,574	$	7.64		2.71	$	-
Granted		117,500	$	20.00
Forfeited		-
Vested		1,520,574		-
Outstanding - September 30, 2024		2,101,074	$	8.77		3.33
Exercisable - September 30, 2024		1,520,574	$	7.62		2.03	$	-