Company: KWIK
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001683168-25-002055
Chunk: 585

Company: KwikClick, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 7
Chunk 585
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:

    Schedule of reconciliation income tax benefit 

    2024  
    2023 
  
    Book loss at the federal tax rate 
    $(410,849) 
    $(819,647)
  
    Stock for services 
     117,923  
     244,225 
  
    Depreciation difference 
     8  
     (101)
  
    Amortization difference 
     (4,968) 
     (2,996)
  
    Change in valuation allowance 
     297,886  
     578,519 
  
    Income tax expense 
    $–  
    $– 

The Company periodically reviews its tax positions
to determine whether it is more likely than not that a tax position will be sustained upon examination based upon the technical merits
of the position. If the more-likely-than-not threshold is met, a company must measure the tax position to determine the amount to recognize
in the financial statements. The Company does not have any material unrecognized tax benefits as of December 31, 2024 or 2023.

The Company’s tax returns are subject to audit
for all years since its inception in 2020.

NOTE 6. STOCKHOLDERS' EQUITY

Common Stock

The Company issued the following shares of common
stock for the years ended December 31, 2024 and 2023:

During the year ended December 31, 2024, the Company
issued 2,500,000 equity units for total cash proceeds of $500,000. Each equity unit consists of one share of common stock and one stock
appreciation right (“SAR”) convertible into common stock at a price per share of $0.20.

During the year ended December 31, 2023, the Company
issued 1,906,100 shares of common stock for services totaling $200,196.

During the year ended December 31, 2023, the Company
issued 1,800,000 shares of common stock to settle the stock issuable of $300,000.

     F-13 

Stock Based Compensation

During 2021 the Company adopted the 2021 Equity Incentive
Plan (the “Plan”) the total number of shares of common stock authorized 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