Stock Options and Warrants

3 Months Ended

Mar. 31, 2023

Stock Options and Warrants

Stock Options and Warrants

NOTE J – Stock Options and Warrants

The Company has two non-statutory stock option plans, the Fiscal 2001 Non-statutory Stock Option Plan (the “2001 Plan”) and the 2013 Equity Compensation Plan (the “2013 Plan”). Both plans have been adopted by the Board of Directors and approved by shareholders. Both the 2001 Plan and the 2013 Plan have options available for future issuance. Any common shares issued as a result of the exercise of stock options would be new common shares issued from our authorized issued shares.

During the First Quarter 2023 and the First Quarter 2022, the Company issued 0 options to purchase shares of common stock.

Stock option activity for the First Quarter 2023 and the First Quarter 2022 is summarized as follows (the figures contained within the tables below have been rounded to the nearest thousand):

	First Quarter 2023						First Quarter 2022
	Shares		Weighted Average Exercise Price		Aggregate Intrinsic Value as  of March 31, 2023		Shares		Weighted Average Exercise Price		Aggregate Intrinsic Value as of March 31, 2022
Options outstanding at beginning of year		1,736,000	$	0.12				1,937,000	$	0.13
Granted		0	NA					0	NA
Exercised		0	NA					0	NA
Cancelled/expired		46,000	$	0.26				0	NA
Options outstanding at end of quarter		1,690,000	$	0.12	$	0		1,937,000	$	0.13	$	0
Options exercisable at end of quarter		1,690,000	$	0.12				1,937,000	$	0.13

The Company recognized $0 in share based payment expense in the First Quarter 2023 and the First Quarter 2022. At March 31, 2023, there was $0 of unrecognized share based payment expense related to stock options.