Company: KWIK
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001683168-25-008410
Chunk: 7

Company: KwikClick, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 8
Chunk 7
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 30, 2025, all 307,015
outstanding SARs were fully vested.

The Company estimated the fair values of the SARs
on the grant dates using a Black-Scholes options pricing model using the quoted market prices of the Company’s stock on the grant
dates; exercise prices ranging from $1.75 to $2.90 per share; expected volatilities ranging from 87.4% to 89.3%; the contractual term
of seven years; and a risk-free interest rates ranging from 3.9% to 4.2%.

A summary of the stock appreciation rights activity
is as follows:

    Schedule of  stock appreciation rights activity

    Weighted

    Average

    Stock

    Weighted

    Remaining

    Appreciation

    Average

    Contractual

    Rights

    Exercise Price

    Term (Years)

    Outstanding at January 1, 2025

    231,358

    $
    13.20

    6.21

    Granted

    75,657

    2.44

    Exercised

    –

    –

    Forfeited, cancelled or expired

    –

    –

    Outstanding at September 30, 2025

    307,015

    $
    10.18

    5.78

    Exercisable at September 30 2025

    307,015

    $
    10.18

    5.78

     11 

Warrants

During the three months ended September 30, 2025,
the Company issued 25,000 fully vested warrants to purchase shares of common stock at an exercise price of $2.90 per share
for a term of 7 years. During the nine months ended September 30, 2025, the Company issued 31,250 fully vested warrants to purchase
shares of common stock at an exercise price ranging from $2.60 to $2.90 per share for a term ranging from 2.9 to 7 years. All previously
issued warrants were fully vested as of September 30, 2025.

The Company estimated the fair values of the two
warrants issuances on the grant date using a Black-Scholes options pricing model using the quoted market prices of the Company’s
stock on the grant dates; exercise prices of $2.60 and $2.90 per share;