Company: DSNY
Filing Date: 2025-07-14
Form Type: 10-Q
Source: 0001062993-25-012768
Chunk: 21

Company: DESTINY MEDIA TECHNOLOGIES INC
Filing Date: 2025-07-14
Form: 10-Q
Item: Part I, Item 1
Chunk 21
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 - $123,695 and $404,652, respectively), out of this amount, $124,500 and $310,633, respectively, was subsequently reclassified to computer software assets as the projects were completed (Note 4) (May 31, 2024 - $26,670 and $77,125, respectively).
      Amortization of intangible assets for the three and nine months ended May 31, 2025 was $3,671 and $10,274, respectively (May 31, 2024 - $2,800 and $10,369, respectively).

6

      6. STOCKHOLDERS' EQUITY
      [a] Common stock issued and authorized
      The Company is authorized to issue up to 20,000,000 shares of common stock, par value $0.001 per share.
      During the three and nine months ended May 31, 2025, the Company did not issue any common stock (May 31, 2024 - Nil for both). During the three and nine months ended May 31, 2025, the Company did not repurchase and cancel any common shares (May 31, 2024 - 149,900 and 459,200 common shares for $163,591 and $470,271 respectively).
      [b] Stock option plans 
      Pursuant to the Company's 2015 Stock Option Plan (the "2015 Plan"), 530,000 shares of common stock have been reserved for issuance. A total of 481,870 common shares remain eligible for issuance under the 2015 Plan. On February 18, 2022 the Company received shareholder approval for the 2022 Stock Option Plan (the "2022 Plan") (together with the 2015 Plan, the "Plans"), whereby 1,000,000 common shares are reserved for issuance. As of May 31, 2025, 371,500 common shares remain eligible for issuance under the 2022 Plan.
      The options generally vest over a range of periods from the date of grant, some are immediate, and others vest over 24 months. Any options that do not vest as the result of a grantee leaving the Company are forfeited and the underlying common shares are returned to the reserve. The options generally have a contractual term of five years.
      Stock-Based Payment Award Activity
      A summary of stock option activity under the Plans as of May 31,