Volcon ePowersports, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

STOCK-BASED COMPENSATION (Tables)

STOCK-BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 2023

Schedule of restricted stock unit activity


Outstanding January 1, 2023	75,000
Granted	–
Vested (1)	(25,000	)
Canceled	–
Outstanding June 30, 2023	50,000

(1)

25,000 RSUs were subject to cancellation due to termination of employment. However, the Company entered into a modification to allow the employee to fully vest in these RSUs as part of a severance agreement. The Company recorded additional expense of $31,487 during the three months ended March 31, 2023 related to this modification.

Schedule of stock option activity

Schedule of stock option activity
	Common Stock Options
	Shares			Weighted Average Exercise Price		Weighted Average Remaining Life in years		Intrinsic Value
Outstanding at January 1, 2023		3,288,830		$	3.08
Granted		314,000		$	1.27
Forfeited		(297,333	)	$	3.43
Exercised		(25,000	)	$	1.00
Outstanding at June 30,2023		3,280,497		$	2.89		8.72	$	0
Exercisable at June 30, 2023		1,267,917		$	2.81		8.45	$	0

Schedule of stock-based compensation expense


	Three Months Ended June 30, 2023		Three Months Ended June 30, 2022		Six Months Ended June 30, 2023		Six Months Ended June 30, 2022
Cost of Goods Sold	$	149,601	$	55,373	$	356,079	$	277,879
Sales and Marketing		233,113		188,529		544,871		461,856
Product Development		100,379		233,050		308,971		579,194
General and Administrative		142,301		147,662		472,906		880,850
Total	$	625,394	$	624,614	$	1,682,827	$	2,199,779