Company: KWIK
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001683168-25-006139
Chunk: 6

Company: KwikClick, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 8
Chunk 6
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 of these
2025 issued 1,250 outstanding SARs not vested.

The
Company estimated the fair value of the SARs on the grant date using a Black-Scholes options pricing model using the quoted market price
on the grant date; exercise prices ranging from $1.75 to $2.86 per
share; expected volatility of approximately 89.3%;
the contractual term of seven
years; and a risk-free interest rate ranging from 4%
to 4.2%.

A summary of the stock appreciation rights activity
is as follows:

    Schedule of  stock appreciation rights activity 

    Weighted 

    Average 

    Stock  
    Weighted  
    Remaining 

    Appreciation  
    Average  
    Contractual 

    Rights  
    Exercise Price  
    Term (Years) 
  
    Outstanding at January 1, 2025 
     231,358  
    $13.20  
     6.21 
  
    Granted 
     25,891  
     2.40  

    Exercised 
     –  
     –  

    Forfeited, cancelled or expired 
     –  
     –  

    Outstanding at June 30, 2025 
     257,249  
    $12.15  
     5.72 
  
    Exercisable at June 30 2025 
     255,999  
    $12.21  
     5.71 

     11 

Warrants

During the three and six months ended June 30,
2025, the Company issued 6,250 fully vested warrants to purchase shares of common stock at an exercise price of $2.60 per
share for a term of 2.9 years. All previously issued warrants were fully vested as of June 30, 2025.

The Company estimated the fair value of the warrants
on the grant date using a Black-Scholes options pricing model using the quoted market price on the grant date; an exercise price of $2.60
per share; expected volatility of approximately 87.3%; the contractual term of 2.9 years; and a risk-free interest rate of 4.31%.

A summary of the common stock warrant activity
is as follows:

    Schedule of warrant activity 

    Weighted 

    Average 

    Weighted