The Company is authorized to issue an unlimited number of common stock. The Company had 4,901,677 shares of common stock outstanding as of June 30, 2025 and December 31, 2024.

During the six month periods ended June 30, 2025 and 2024, 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 10% 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 June 30, 2025 and 2024 the Company recorded share-based compensation of $21,476 and none, respectively. For the six months ended June 30, 2025 and 2024 the Company recorded share-based compensation of $387,476 and $160,865, respectively, relating to options vested during the period. The remaining share-based compensation to be recognized is over the vesting term of the unvested options is $235,843 as of June 30, 2025. The remaining expense is expected to be recognized over a weighted-average period of approximately 2.75 years.

The fair value of the options granted during the six months ended June 30, 2025 was $1.56 per share. No options were granted during the six months ended June 30, 2024.

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 June 30, 2025 the total intrinsic value of all outstanding options was $59,900.

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

During the year ended December 31, 2024, the Company:

At June 30, 2025, the Company had share purchase warrants outstanding as follows: