Company: KWIK
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001683168-25-002055
Chunk: 493

Company: KwikClick, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 4
Chunk 493
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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 fair market value of the
Company’s common stock at the date of grant. All awards vest on a grant-by-grant basis at the discretion of the Board and currently
outstanding awards range from fully vested at the grant date to vesting periods of six months. Awards granted under the plan generally
expire between two and seven years from the date of grant. The Plan terminates no later than the tenth anniversary of the approval of
the incentive plans by the Company’s Board of Directors. As of December 31, 2024, 3,538,462 shares of common stock were reserved
for issuance under the Stock Option Plan.

In addition to awards granted from the Plan, the Company
has granted equity and equity-linked awards for various employees and non-employees at the discretion of the Compensation Committee of
the Board of Directors. The