Company: KAVL
Filing Date: 2025-09-16
Form Type: 10-Q
Source: 0001731122-25-001266
Chunk: 97

Company: Kaival Brands Innovations Group, Inc.
Filing Date: 2025-09-16
Form: 10-Q
Item: Item 8
Chunk 97
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 Aggregate 
    Aggregate 
    Exercise Price 
    WA Exercise

    Number 
    Exercise Price 
    Range 
    Price
  
    Outstanding, October 31, 2024 
     189,590  
    $6,847,736  
    $3.64-602.28  
    $36.12 
  
    Granted 
     —  
     —  
     —  
     — 
  
    Exercised 
     —  
     —  
     —  
     — 
  
    Cancelled, forfeited, or expired 
     (69,637) 
     (3,494,717) 
    $15.33-602.28  
     50.18 
  
    Outstanding, July 31, 2025 
     119,953  
     3,353,019  
    $3.64-59.85  
     27.95 
  
    Exercisable, July 31, 2025 
     118,763  
    $3,333,304  
    $3.64-59.85  
    $28.07 

During the three months ended July 31, 2025, and 2024,
the Company recognized $2,445 and $56,062, respectively, of stock option expense related to outstanding stock options. During the nine
months ended July 31, 2025, and 2024, the Company recognized $36,192 and $76,932, respectively, of stock option expense related to outstanding
stock options. No options were granted during the three and nine months ended July 31, 2025.

As of July 31, 2025, the Company had $18,744 of unrecognized
expenses related to options, which is expected to be recognized over a weighted-average period of approximately 1.94 years. The weighted
average remaining contractual life is approximately 3.81 years for stock options outstanding as of July 31, 2025. The aggregate intrinsic
value of these outstanding options as of July 31, 2025, was 0zero.

Warrants

Warrant information as of the periods indicated is
as follows:

    Schedule of warrant information 

    Weighted

    Aggregate 
    Exercise 
    Average

    Aggregate Number 
    Exercise  Price 
    Price  Range