STOCK OPTIONS AND WARRANTS

9 Months Ended

Sep. 30, 2024

Share-Based Payment Arrangement [Abstract]

5. STOCK OPTIONS AND WARRANTS

Stock Options

During the nine months ended September 30, 2024 and 2023, the Company granted the following stock options in the amount of 0, and 155,000,000, respectively. (See Note 2). Also, during the nine months ended September 30, 2024 and 2023, 0 and 50,000,000 stock options expired, respectively.

SCHEDULE OF STOCK OPTIONS

	9/30/2024				9/30/2023
	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		-		-		155,000,000		$	0.0126
Exercised		-		-		-			-
Expired/Cancelled		-		-		(50,000,000	)	$	(0.021	)
Outstanding as of the end of the periods		560,000,000	$	0.0172		560,000,000		$	0.0172
Exercisable as of the end of the periods		426,336,424	$	0.0200		411,047,568		$	0.0209

The weighted average remaining contractual life of options outstanding as of September 30, 2024 and 2023 was as follows:

9/30/2024								9/30/2023
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		20,682,393		5.47	$	0.0137		50,000,000		8,333,333		6.72
$	0.0126		5,000,000		1,817,352		8.67	$	0.0126		5,000,000		138,893		9.93
$	0.0121		100,000,000		-		5.71	$	0.0121		100,000,000		-		6.96
$	0.0223		5,000,000		3,836,679		7.46	$	0.0223		5,000,000		2,575,342		8.46
$	0.0210		400,000,000		400,000,000		4.53	$	0.0210		400,000,000		400,000,000		5.79
			560,000,000		426,336,424						560,000,000		411,047,568

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) years from the date of grant or upon termination of employment. As of September 30, 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 nine months ended September 30, 2024 and 2023, were $174,275 and $1,940,829, respectively.

As of September 30, 2024, there was no intrinsic value with regards to the outstanding options.

Warrants

During the nine months ended September 30, 2024, the Company issued no common stock purchase warrants.

As of September 30, 2024 and 2023, the outstanding common stock purchase warrants were as follows:

SCHEDULE OF WARRANTS ACTIVITY

	9/30/2024				9/30/2023
	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

The weighted average remaining contractual life of the warrants outstanding as of September 30, 2024 was as follows:

SCHEDULE OF WARRANTS OUTSTANDING

9/30/2024
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		2.46
$	0.04		125,000,000		125,000,000		1.52
$	0.05		9,375,000		9,375,000		1.51
$	0.06		83,333,334		83,333,334		1.83
$	0.075		6,250,000		6,250,000		1.83
			228,958,334		228,958,334

There was no warrant compensation recognized as of September 30, 2024.

NewHydrogen, Inc. 10-Q