NOTE 6 – SHARE-BASED PAYMENTS TO VENDORS

In the fourth quarter of 2023, the Company entered into an agreement with a vendor to provide investor relations services for four-month terms. The cash payments were expensed over the service period and the equity components were expensed consistent with the contractual vesting periods. Pursuant to the agreement, the Company issued 20,000 shares of common stock with a grant date fair value of $3.83 and recorded general and administrative expenses of $0 and $76,600 for the three months ended March 31, 2025 and 2024, respectively.

In the first quarter of 2024, the Company entered into two respective agreements with consultants to provide investor relation services for four-month terms. The cash payments were expensed over the service period and the equity components were expensed consistent with the various contractual vesting periods. Per the agreements, the Company issued 70,000 shares of common stock with grant date fair values ranging from $2.84 to $4.81 and recorded general and administrative expenses of $0 and $229,000 for the three months ended March 31, 2025 and 2024, respectively.

In the fourth quarter of 2024, the Company entered into a twelve-month agreement with a vendor pursuant to which the Company will make quarterly grants of 10,000 shares of common stock. The equity payments will be expensed consistently over the contractual vesting period. The Company issued 10,000 shares of common stock with grant date fair value of $0.84 and recorded general and administrative expenses of $8,400 for the three months ended March 31, 2025.

In addition, in the fourth quarter of 2024, the Company entered into a twelve-month agreement with a vendor pursuant to which the Company will make quarterly grants equal to $21,000 worth of common stock and certain cash payments. The cash payments will be expensed over the service period and the equity components will be expensed consistently over the contractual vesting period. The Company issued 28,767 shares of common stock with a grant date fair value of $$0.73 and recorded general and administrative expenses of $21,000 for the three months ended March 31, 2025.

In the first quarter of 2025, the Company entered into an agreement with a vendor to provide investor relation services for a six-month term. The Company will issue a total of 240,000 shares of common stock and made a certain cash payment. The cash payment will be expensed over the service period and the equity components will be expensed consistently over the contractual vesting period. The Company issued 120,000 shares of common stock with grant date fair values ranging from $0.45 to $0.81 and recorded general and administrative expenses of $80,680 for the three months ended March 31, 2025.