Company: KWIK
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001683168-25-006139
Chunk: 7

Company: KwikClick, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 8
Chunk 7
---
  
    Remaining 

    Average  
    Contractual 

    Warrants  
    Exercise Price  
    Term (Years) 
  
    Outstanding at January 1, 2025 
     40,062  
    $1.52  
     6.6 
  
    Granted 
     6,250  
     2.60  

    Exercised 
     (1,312) 
     –  

    Forfeited, cancelled or expired 
     (1,250) 
     –  

    Outstanding at June 30, 2025 
     43,750  
    $1.74  
     5.86 
  
    Exercisable at June 30 2025 
     43,750  
    $1.74  
     5.86 

For the three months ended June 30, 2025 and 2024,
the Company recognized stock-based compensation totaling $7,949 and $1,086, respectively. For the six months ended June 30, 2025 and 2024,
the Company recognized stock-based compensation totaling $8,058 and $407,858, respectively.

As
of June 30, 2025, the Company has committed 300,999   shares
of stock for the fulfillment of the all of its outstanding equity and equity-linked awards.

NOTE 5. OPERATING LEASE

On
February 1, 2025, the Company entered into an operating lease for its Bountiful, Utah corporate headquarters under a non-cancellable lease
arrangement. The operating lease, which expires in January 2027, calls for base monthly payments on an escalating basis ranging from $3,514 to $3,728. The Company estimated the lease liability associated
with the corporate headquarters operating lease using a discount rate of 10% per annum. The discount rate is based on an estimate of the
Company’s incremental borrowing rate for a term similar to the lease term on the commencement date of February 1, 2025.

The following table summarizes the Company’s
future undiscounted cash payment obligations for each calendar year as of June 30, 2025, for its non-cancelable lease liabilities through
the end of the expected term of the lease:

    Schedule of future lease obligations 

    2025 
    $21,086 
  
    2026