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 1,000 shares of common stock with a grant date fair value of $76.60 and recorded general and administrative expenses of $0 for the three and six months ended June 30, 2025 and $0 and $76,600 for the three and six months ended June 30, 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. Pursuant to the agreements, the Company issued 6,000 shares of common stock with grant date fair values ranging from $37.40 to $96.20 and recorded general and administrative expenses of $0 and $100,700 for the three months ended June 30, 2025 and 2024, respectively, and $0 and $329,700 for the six months ended June 30, 2025 and 2024, respectively.

In the second quarter of 2024, the Company entered into two separate agreements with consultants to provide investor relation services for six-months terms. The cash payments were expensed over the service period and the equity components were expensed consistent with the various contractual vesting periods. Pursuant to the agreements, the Company issued 2,800 shares of common stock with grant date fair values of $36.00 and $48.00 and recorded general and administrative expense of $0 for the three and six months ended June 30, 2025, respectively, and $112,800 for the three and six months ended June 30, 2024, respectively.

In the fourth quarter of 2024, the Company entered into a 12-month agreement with a vendor pursuant to which the Company will make quarterly grants of 500 shares of common stock. The equity payments will be expensed consistently over the contractual vesting period. Pursuant to the agreement, the Company issued 1,000 shares of common stock with grant date fair values of $16.80 and $8.20, and recorded general and administrative expenses of $4,100 and $12,500 for the three and six months ended June 30, 2025, respectively.

In addition, in the fourth quarter of 2024, the Company entered into a 12-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. Pursuant to the agreement, the Company issued 3,880 shares of common stock with grant date fair values of $14.60 and $8.60, and recorded general and administrative expenses of $21,000 and $42,000 for the three and six months ended June 30, 2025, respectively.

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. Pursuant to the agreement, the Company issued a total of 12,000 shares of common stock and made a certain cash payment. The cash payment and the equity components were expensed consistently over the contractual vesting period. The Company issued 12,000 shares of common stock with grant date fair values ranging from $6.80 to $16.20 and recorded general and administrative expenses of $43,600 and $124,280 for the three and six months ended June 30, 2025, respectively.

In the second quarter of 2025, the Company entered into an agreement with a vendor to provide investor relation services for a six-months term. Pursuant to the agreement, the Company issued 2,300 shares of common stock with a grant date fair value of $7.60 and recorded general and administrative expenses of $17,480 for the three and six months ended June 30, 2025.