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Options
 3 Months Ended
Mar. 31, 2025
Equity [Abstract]  
Options

Note 10 – Options

 

During the year ended December 31, 2024, the Company granted a total of 995,000 options to Officers, Directors and Employees with an exercise price of $1.21, a five-year5 term and are exercisable immediately. The Company recorded an expense of $573,548 in connection with these options. Additionally, the Company granted 50,000 options with an exercise price of $0.63 to a consultant, of which 25,000 are immediately vested and 25,000 are vested six months from the date of the agreement. The Company recorded an expense of $11,045 related to the vested options.

 

During the three months ended March 31, 2025, the Company granted a total of 375,000 options to the Directors with an exercise price of $0.68, a five-year term and are exercisable immediately. The Company recorded an expense of $ 119,635 in connection with these options.

 

The fair value of these options was measured using the Black-Scholes valuation model at the grant date. The table below sets forth the assumptions for Black-Scholes valuation model on the respective reporting date.

 

               Market         
   Number           Price on         
   of   Term   Exercise   Grant   Volatility   Fair 
Reporting Date  Options   (Years)   Price   Date   Percentage   Value 
02/21/2024   995,000    2.5   $1.21   $1.21    62.6%  $573,548 
12/31/2024   25,000    5   $0.63   $0.63    86.4%  $11,045 
01/07/2025   

375,000

    

2.5

  

$

0.68

   $

0.68

    

75.0

%  $

119,635