Company: ARTL
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001640334-25-001429
Chunk: 403

Company: ARTELO BIOSCIENCES, INC.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 403
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  Exercise Price  (years) Outstanding, December 31, 2024  128,976  $11.02   7.76 Granted  -   -   - Exercised  -   -   - Forfeited/canceled  -   -   - Outstanding, June 30, 2025  128,976  $11.02   7.26              Exercisable options, June 30, 2025  54,629  $13.69   7.10  Valuation The Company utilizes the Black-Scholes model to value its stock options.  During the six months ended June 30, 2024, the Company granted 40,676 options, valued at $299 of which 17,169 options, valued at $129, were for related parties. As of June 30, 2025, $671 remains unamortized, of which $463  is for related parties. The intrinsic value of options outstanding as of June 30, 2025, and December 31, 2024, is $526 and $0, respectively.

 14Table of Contents

NOTE 7– INTANGIBLE ASSET The Company has capitalized the costs associated with acquiring the exclusive worldwide license to develop and commercialize products comprising or containing the compound ART27.13 as an intangible asset at a value of $2,039 as of June 30, 2025, and December 31, 2024. The amount capitalized consisted of a $1,500 payment and the fair value of 681 shares of Common Stock of $539. During the six months ended June 30, 2025, no additional costs met the criteria for capitalization as an intangible asset.

NOTE 8 - LEASE On May 12, 2021, the Company entered into a lease arrangement for office space in the U.S. with Beckman/Lomas LLC, an entity controlled by a close family member of a director. Effective June 1, 2022, the related party divested its interests in the property, and as such, the lease agreement no longer constitutes a related party transaction. On March 6, 2024, the Company entered into an amended agreement with the landlord to extend the lease commencing in September 2024, and effective