Company: ARTL
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001640334-25-000825
Chunk: 123

Company: ARTELO BIOSCIENCES, INC.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 1
Chunk 123
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 -   - Exercised  -   -   - Forfeited/canceled  -   -   - Outstanding, March 31, 2025  773,605  $1.84   7.51              Exercisable options, March 31, 2025  271,943  $2.43   7.35 

 12Table of Contents

 Valuation The Company utilizes the Black-Scholes model to value its stock options.  During the three months ended March 31, 2024, the Company granted 244,000 options, valued at $299 of which 102,000 options, valued at $128, were for related parties. As of March 31, 2025, $820 remains unamortized, of which $543 is for related parties. The intrinsic value of options outstanding as of March 31, 2025, and December 31, 2024, is $0.

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 March 31, 2025, and December 31, 2024. The amount capitalized consisted of a $1,500 payment and the fair value of 4,087 shares of Common Stock of $539. During the three months ended March 31, 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 until August 2027. The following summarizes right-of use asset and lease information about the Company’s operating leases as of March 31, 2025:   Three months ended   March 31,