NOTE 6 – SHARE-BASED PAYMENTS TO VENDORS

In the fourth quarter of 2024, the Company entered into a 12-month agreement with a vendor pursuant to which the Company made quarterly grants of 500 shares of common stock. The equity payments were expensed consistently over the contractual vesting period. Pursuant to the agreement, the Company issued 500 shares of common stock with grant date fair value of $16.80, and recorded general and administrative expenses of $0 and $8,400 for the three months ended March 31, 2026 and 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 made quarterly grants equal to $21,000 worth of common stock and certain cash payments. The cash payments were expensed over the service period and the equity components were expensed consistently over the contractual vesting period. Pursuant to the agreement, the Company issued 1,438 shares of common stock with grant date fair value of $14.60 and recorded general and administrative expenses of $0 and $21,000 for the three months ended March 31, 2026 and 2025, respectively. This agreement was renewed in the fourth quarter of 2025 for an additional 12-month term and pursuant to the agreement, the Company issued 8,824 shares of common stock with a grant date fair value of $2.38 and recorded general and administrative expenses of $21,000 for the three months ended March 31, 2026.

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 6,000 shares of common stock with grant date fair values of $16.20, $11.80 and $9.00 and recorded general and administrative expenses of $0 and $80,680 for the three months ended March 31, 2026 and 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-month term. This agreement was amended in the third quarter of 2025 for an additional six-month term and pursuant to the agreement, the Company made quarterly grants equal to $20,000 worth of common stock and certain cash payments. The cash payments and the equity components were expensed consistently over the contractual vesting period. Pursuant to the agreement, the Company issued 16,050 shares of common stock with a grant date fair values of $2.87 and $2.20 and recorded general and administrative expenses of $40,000 for the three months ended March 31, 2026.