8. Stock Options

The Company has a Stock Incentive Plan (the "SIP"), authorize the granting of stock options up to 10 percent of the total number of issued and outstanding shares of common stock, that provides for the grant of stock options, incentive stock options, stock appreciation rights, restricted stock awards, and incentive awards to eligible individuals including directors, executive officers and advisors that have furnished bona fide services to the Company not related to the sale of securities in a capital-raising transaction. On October 16, 2023 the Company's shareholders, at their Annual Meeting, ratified and reapproved the Stock Option Plan.

For the periods ended March 31, 2024 and 2023, no options were granted, and on March 25, 2024 1,325,000 options expired.

The following is a summary of the Company's options issued and outstanding under the SIP:

	Shares			Weighted Average Exercise Price
Outstanding and exercisable at December 31, 2023	4,775,000		$	0.09
Expired	(1,325,000	)		0.09
Outstanding and exercisable at March 31, 2024	3,450,000		$	0.09

The average remaining contractual term of the options outstanding and exercisable at March 31, 2024, was 2.04 years. On March 31, 2024, options outstanding and exercisable had no aggregate intrinsic value based on the Company's stock price of $0.045 on March 31, 2024.