STOCK OPTIONS AND WARRANTS

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

5. STOCK OPTIONS AND WARRANTS

Stock Options

During the three months ended March 31, 2024 and 2023, the Company granted the following stock options in the amount of 0, and 50,000,000, respectively. (See Note 2).

SCHEDULE OF STOCK OPTIONS

	3/31/2024				3/31/2023
	Number of Options		Weighted average exercise price		Number of Options		Weighted average exercise price
Outstanding as of the beginning of the periods		560,000,000	$	0.0172		455,000,000	$	0.0296
Granted		-		-		50,000,000	$	0.0137
Exercised		-		-		-		-
Expired/Cancelled		-		-		-		-
Outstanding as of the end of the periods		560,000,000	$	0.0172		505,000,000	$	0.0259
Exercisable as of the end of the periods		421,388,889	$	0.0202		435,959,666	$	0.0296

NEWHYDROGEN, INC.

CONDENSED NOTES TO FINANCIAL STATEMENTS – UNAUDITED

FOR THE THREE MONTHS ENDED MARCH 31, 2024 AND 2023

5. STOCK OPTIONS AND WARRANTS (Continued)

The weighted average remaining contractual life of options outstanding as of March 31, 2024 and 2023 was as follows:

3/31/2024								3/31/2023
Exercisable Price		Stock Options Outstanding		Stock Options Exercisable		Weighted Average Remaining Contractual Life (years)		Exercisable Price		Stock Options Outstanding		Stock Options Exercisable		Weighted Average Remaining Contractual Life (years)
$	0.0137		50,000,000		16,666,667		5.97	$	0.0137		50,000,000		-		6.97
$	0.0126		5,000,000		1,388,889		9.17	$	-		-		-		-
$	0.0121		100,000,000		-		6.21	$	-		-		-		-
$	0.0223		5,000,000		3,333,333		7.96	$	0.223		5,000,000		1,739,726		8.96
$	0.0210		400,000,000		400,000,000		5.04	$	0.028		450,000,000		423,219,020		6.04
			560,000,000		421,388,889						505,000,000		435,959,666

Determining the appropriate fair value of the stock-based compensation requires the input of subjective assumptions, including the expected life of the stock-based payment and stock price volatility. The Company used Black Scholes to value its stock option awards which incorporated the Company’s stock price, volatility, U.S. risk-free rate, dividend rate, and estimated life. The stock options terminate seven (7) year0s from the date of grant or upon termination of employment. As of March 31, 2024, the aggregate total of 560,000,000 stock options were outstanding.

The stock-based compensation expense recognized in the statement of operations during the three months ended March 31, 2024 and 2023, were $76,287 and $1,472,225, respectively.

As of March 31, 2024, there was no intrinsic value with regards to the outstanding options.

Warrants

As of March 31, 2023, the Company issued no common stock purchase warrants during the three months ended March 31, 2024.

As of March 31, 2024 and 2023, the outstanding common stock purchase warrants were as follows:

SCHEDULE OF WARRANTS ACTIVITY

	3/31/2024				3/31/2023
	Number of Options		Weighted average exercise price		Number of Options		Weighted average exercise price
Outstanding as of the beginning of the periods		228,958,334	$	0.0483		228,958,334	$	0.0483
Granted		-		-		-		-
Purchased		-		-		-		-
Outstanding as of the end of the periods		228,958,334	$	0.0483		228,958,334	$	0.0483
Exercisable as of the end of the periods		228,958,334				228,958,334

NEWHYDROGEN, INC.

CONDENSED NOTES TO FINANCIAL STATEMENTS – UNAUDITED

FOR THE THREE MONTHS ENDED MARCH 31, 2024 AND 2023

5. STOCK OPTIONS AND WARRANTS (Continued)

The weighted average remaining contractual life of the warrants outstanding as of March 31, 2024 was as follows:

SCHEDULE OF WARRANTS OUTSTANDING

3/31/2024
Exercisable Price		Common Stock Purchase Warrants Outstanding		Common Stock Purchase Warrants Exercisable		Weighted Average Remaining Contractual Life (years)
$	0.0255		5,000,000		5,000,000	2.96
$	0.04		125,000,000		125,000,000	2.02
$	0.05		9,375,000		9,375,000	2.01
$	0.06		83,333,334		83,333,334	2.32
$	0.075		6,250,000		6,250,000	2.32
			228,958,334		228,958,334

There was no warrant compensation recognized as of March 31, 2024.

NewHydrogen, Inc. 10-Q