Company: GEDC
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-023834
Chunk: 61

Company: CalEthos, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 8
Chunk 61
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 of stock options to the Company’s COO for the purchase of 1,000,000
shares of common stock with an exercise price of $0.54, per share, which was the fair market value of the Company’s common stock
on the date of issuance. In June 2023, as part of an employment agreement an executive was granted an incentive stock option and a non-qualified
stock option to purchase 600,000 and 1,900,000, respectively, shares of the Company’s common stock for $0.50 per share. The stock
options are exercisable for a period of seven years from the date of grant, which was June 19, 2023. For the six months ended June 30, 2025, the Company recognized compensation
expense of approximately $35,000 related to time-based equity awards, and upon the determination that the
related project would not be completed recorded a reversal of approximately $101,000
for performance-based awards, both of which were recorded as equity-based
compensation. During the same period, the Company recorded a reversal of approximately $303,000 of performance-based compensation expense
that had been capitalized in prior periods as data center campus costs. The $303,000 was recorded to abandoned project costs, upon the
determination that the related project would not be completed.

Warrants

The
following table summarized warrants outstanding as of June 30, 2025:

 SCHEDULE OF WARRANTS ACTIVITY

    Number of Shares  
    Weighted Average Strike Price/Share  
    Weighted Average Remaining Contractual Term (Years)  
    Weighted Average Grant Date Fair Value/Share  
    Intrinsic Value 
  
    Balance, December 31, 2024 
     8,004,678  
     0.95  
     4.3  
     0.83  
     0.62 
  
    Granted 
     500,000  
     0.49  
     5.0  
     0.58  
     0.02 
  
    Forfeited 
     -  
     -  
     -  
     -  
     – 
  
    Exercised 
     —  
     –  
     –  
     –  
     – 
  
    Expired 
     -  
     -