The Company is authorized to issue three hundred million (300,000,000) shares, of which two hundred million (200,000,000) shares shall be Common Stock, and one hundred million (100,000,000) shares shall be Preferred Stock.

During the three-month periods ended March 31, 2026 and 2025, the Company did not issue share capital. 

The Company may grant incentive stock options to its officers, directors, employees, and consultants. The Company has implemented a rolling Stock Option Plan (the “Plan”) whereby the Company can issue up to 15% of the issued and outstanding common shares of the Company. Options have a maximum term of ten years and vesting is determined by the Board of Directors.

A continuity schedule of outstanding stock options is as follows:

For the three months ended March 31, 2026 and 2025 the Company recorded share-based compensation of $21,476 and $366,000, respectively, relating to options vested during the period. As of March 31, 2026, the remaining share-based compensation of $140,571 is expected to be recognized over 2.0 years. The remaining weighted average contractual term of the options outstanding as of March 31, 2026 is 8.95 years.

The intrinsic value represents the difference between the fair market value of the Company’s common stock on the date of exercise and the exercise price of each option. Based on the fair market value of the Company’s common stock at March 31, 2026 the total intrinsic value of all outstanding options was none.

The Company used the following assumptions in calculating the fair value of stock options for the period ended:

At March 31, 2026, the Company had share purchase warrants outstanding as follows: