Company: EDSA
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001171843-25-000866
Chunk: 50

Company: Edesa Biotech, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 50
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	111,116

			70,025

			$
			4.10 - 10.01

			March 2025 - Oct 2033

			383,040

			340,500

The options exercisable at December 31, 2024 had a weighted average exercise price of $27.01 and no intrinsic value and a weighted average remaining life of 74 months. There were 42,540 options at December 31, 2024 that had not vested with a weighted average exercise price of $7.83 and no intrinsic value and a weighted average remaining life of 101 months.

The fair value of options granted during the three months ended December 31 2023 was estimated using the Black-Scholes option valuation model using the following assumptions:

			Three Month Ended 

			December 31,2023

			Risk free interest rate

			4.92
			%

			Expected life

			5 years

			Expected share price volatility

			97.26
			%

			Expected dividend yield

			0.00
			%

The Company recorded $0.1 million and $0.2 million of share-based compensation expenses for the three months ended December 31, 2024 and 2023, respectively.

13

As of December 31, 2024, the Company had approximately $0.1 million of unrecognized share-based compensation expense, which is expected to be recognized over a period of 21 months.

Restricted share units (RSU)

The Company’s 2019 Plan allows restricted share units (RSUs) to be granted to directors, officers, employees and certain external consultants and advisers. Under the 2019 Plan, the RSU term is not to exceed 10 years. The fair value is based on the 5-day VWAP of the Company’s common shares up to the date of grant.

The following is a summary of changes in the status of RSUs from October 1, 2024 through December 31, 2024:

			Number of RSU (#)

			Weighted Average Grant Date Fair Value

			Three Months Ended December 31, 2024

			Balance - September 30, 2024

			63,204

			$
			5.10

			Granted

			14,350

			3.12

			Balance - December