Stockholders’ Deficit

12 Months Ended

Dec. 31, 2025

Note 6 – Stockholders’ Deficit

Common Stock

2025

In March 2025, the Company entered into a subscription agreement to issue 1,000,000 shares of common stock at $0.14 per share for total cash proceeds of $140,000.

2024

During the year ended December 31, 2024, the Company issued 85,000 shares of common stock with a fair value of $20,938 to a board member of the Company for services provided.

Stock Warrants, Stock Options, and the 2017 Equity Incentive Plan:

Under the 2017 Equity Incentive Plan, the Company is authorized to grant rights to acquire up to a maximum of 200,000 shares of common stock. The 2017 Plan provides for the grant of (1) both incentive and non-statutory stock options, (2) stock bonuses, (3) rights to purchase restricted stock and (4) stock appreciation rights. As of December 31, 2025, the Company had 128,000 shares available for future grant.

Stock option activity within the 2017 Equity Incentive Plan and warrant activity outside the plan, for the years ended December 31, 2025 and 2024 is as follows:

Stock Options

Stock Warrants

Weighted Average
Exercise Price

Outstanding at December 31, 2023

72,000

2.00

117,500

0.50

Granted

–

Cancelled

–

Expired

–

Exercised

–

Outstanding at December 31, 2024

72,000

2.00

117,500

0.50

Granted

–

Cancelled

–

Expired

–

(117,500)

0.50

Exercised

–

Outstanding at December 31, 2025

72,000

2.00

–

Exercisable at December 31, 2025

72,000

2.00

–

As of December 31, 2025, the outstanding stock options have a weighted average remaining term of 1.82 years and had no intrinsic value. As of December 31, 2024, the outstanding stock options have a weighted average remaining term of 2.82 years and had no intrinsic value, and the outstanding stock warrants have a weighted average remaining term of 0.43 years and had no intrinsic value.

- Definition

The entire disclosure for equity.

+ References

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+ Details

MAGELLAN COPPER & GOLD Corp 10-K