Company: KWIK
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001683168-25-002055
Chunk: 209

Company: KwikClick, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 209
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 employment with us. Our stock options allow employees to purchase
shares of our common stock at a price per share equal to the fair market value of our common stock on the date of grant and may or may
not be intended to qualify as “incentive stock options” for U.S. federal income tax purposes. Our stock appreciation rights
allow employees to receive a cash payment for the difference between the market price of our common stock on the date of exercise and
the strike price. We sometimes also offer stock options, stock appreciation rights and stock awards to our consultants in lieu of cash.
Our stock options allow consultants to purchase shares of our common stock at a price per share equal to the fair market value of our
common stock on the date of grant and are not intended to qualify as “incentive stock options” for U.S. federal income tax
purposes. Our stock appreciation rights allow consultants to receive a cash payment for the difference between the market price of our
common stock on the date of exercise and the strike price. Stock options, stock appreciation rights, and stock awards granted to our executive
officers may be subject to accelerated vesting in certain circumstances. Our Board of Directors adopted the 2021 Equity Incentive Plan
to (1) encourage selected employees, officers, directors, consultants and advisers to improve our operations and increase our profitability,
(2) encourage selected employees, officers, directors, consultants and advisers to accept or continue employment or association with us,
and (3) increase the interest of selected employees, officers, directors, consultants and advisers in our welfare through participation
in the growth in value of our common stock. All of our current employees, directors and consultants are eligible to participate in the
2021 Plan.

 25 

Recent Sales of Unregistered Securities

On December 9, 2024, the Company granted 1,000,000
stock settled appreciation rights (SARs) with a grant price of $0.10, which was the fair market value at the time of the grant.

On December 27, 2024, the Company granted 1,500,000
warrants at grant price of $0.04, which was the fair market value at the time of the grant.

On December 31, 2024, the Company granted 461,538
stock settled appreciation rights (SARs) with a grant price of $0.065, which was the fair market value at the time of the grant.

All other issues