Company: KWIK
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001683168-25-002055
Chunk: 347

Company: KwikClick, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1C
Chunk 347
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 under Plan totals 10,000,000. The Plan requires that
all equity and equity-linked awards are granted with exercise prices equal, or at a premium, to the estimated fair market value of the
Company’s common stock at the date of grant. All awards vest on a grant-by-grant basis at the discretion of the Board and currently
outstanding awards range from fully vested at the grant date to vesting periods of six months. Awards granted under the plan generally
expire between two and seven years from the date of grant. The Plan terminates no later than the tenth anniversary of the approval of
the incentive plans by the Company’s Board of Directors. As of December 31, 2024, 3,538,462 shares of common stock were reserved
for issuance under the Stock Option Plan.

In addition to awards granted from the Plan, the Company
has granted equity and equity-linked awards for various employees and non-employees at the discretion of the Compensation Committee of
the Board of Directors. The fair value of the awards estimated at the grant date are earned and recognized over the requisite service
period.

Warrants

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; exercise price of $0.01
per share; expected volatility of approximately 89.3%; the contractual term of seven years; and the risk-free interest rate of 4.25%.

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

    Schedule of warrant activity 

    Warrants  
    Weighted Average Exercise Price  
    Weighted Average Remaining Contractual Term (Years) 
  
    Outstanding at January 1, 2024 
     102,470  
    $0.01  
     – 
  
    Warrants granted 
     1,500,000  
     0.04  

    Exercised 
     –  
     –  

    Forfeited, cancelled or expired 
     –  
     –  

    Outstanding at December 31, 2024 
     1,602,470  
    $0.04  
     6.6 
  
    Exercisable at December 31, 2024 
     1,602,470  
    $0.04  
     6.6 

During the year ended December 31,