Company: GNTOF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001062993-25-008252
Chunk: 62

Company: GENTOR RESOURCES INC.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 19
Chunk 62
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 1,040,000 0.065 0.065 1.51
Closing Balance, December 31, 2023 1,040,000 0.065 0.065 0.51
Expired ( 1,040,000 0.065
Closing Balance, December 31, 2024 - 0.065 0.065 -
The Black-Scholes option-pricing model was used to estimate values of all stock options granted based on the following assumptions for the options granted in June and July 2019:
(i)Risk-free interest rates:1.40% -1.53%, which are based on the Bank of Canada benchmark bonds, average yield 5-year rate in effect at the time of grant for bonds with maturity dates at the estimated term of the options;
(ii)Expected volatility:119.33% -119.56%, which is based on the Company's historical stock prices;
(iii)Expected life:5years; and
(iv)Expected dividends: $nil
d)(Loss) Income Per Share
Basic (loss) income per share was calculated on the basis of the weighted average number of common shares outstanding for the year ended December 31, 2024, amounting to38,906,742common shares (years ended December 31, 2023 and 2022 -38,906,742).
For the years ended December 31, 2024 and 2023, the income calculation excludes, respectively, theniland1,040,000stock options since the trading price of those common shares were below the exercise price of such stock options into common shares. The calculation of the weighted average number of diluted common shares outstanding does not include1,040,000stock options for the years ended December 31, 2022 as they are anti-dilutive.

7. INCOME TAXES

a)The reconciliation of income taxes at statutory income tax rates in the United States of21% (2023 -21% and 2022 -21%) to the income tax expense is as follows:

Year ended December 31, 2024 2023 2022
$ $ $
────────────────────────────────────────────────────────────────────────────────────────────────────
Gain(Loss) for the year before income tax ( 191,837 53,976 ( 257,913
Expected income tax recovery based on statutory rate ( 40,000 11,000 ( 54,000
Adjustment to