EQ Resources Limited Annual Report 2021

60 EQ Resources Limited Annual Report 2021 Notes to the Consolidated Financial Statements continued ANNUAL Rep rt June 2021 Notes to the Consolidated Financial Statements 46 FV at Grant Date Expensed in prior years Lapsed / Forfeited Expensed 2021 Year Capitalised 2021 Year AASB 2 Not yet Expensed Options issued to directors 308,454 - - 23,243 - 285,211 Options issued to employees / consultants 983,361 - - 256,204 503,385 223,772 Total share-based payments 1,291,815 - - 279,447 503,385 508,983 The fair value of options issued during the year were calculated by using a black-scholes pricing model applying the following inputs: Employees / Consultants Employees / Consultants Employees / Consultants Employees / Consultants Grant date 01/07/2020 01/07/2020 01/02/2021 23/06/2021 Number issued 2,000,000 3,000,000 2,000,000 7,000,000 Share price at grant date $0.031 $0.031 $0.040 $0.026 Exercise Price $0.040 $0.060 $0.040 $0.060 Life of options (years) 3 Years 3 Years 3 Years 3 Years Expected share price volatility 107.942% 107.942% 94.384% 92.397% Weighted average risk-free interest rate 0.270% 0.270% 0.110% 0.200% Fair value per option $0.01878 $0.01642 $0.02348 $0.01031 Vesting conditions 6 Months Service 1 12 Months Service 4 None 12 Month Anniversary 1 Employees / Consultants Employees / Consultants Employees / Consultants Employees / Consultants Grant date 23/06/2021 19/03/2021 23/06/2021 23/06/2021 Number issued 7,000,000 25,000,000 5,000,000 4,000,000 Share price at grant date $0.026 $0.0370 $0.0260 $0.0260 Exercise Price $0.060 $0.0432 $0.0432 $0.0600 Life of options (years) 3 Years 3 Years 3 Years 3 Years Expected share price volatility 92.397% 92,405% 85.528% 92.397% Weighted average risk-free interest rate 0.200% 0.110% 0.200% 0.200% Fair value per option $0.01031 $0.02014 $0.01040 $0.01031 Vesting conditions 24 Month Anniversary 1 None None 12 Month Anniversary 2 Employees / Consultants Directors Directors Grant date 23/06/2021 25/05/2021 25/05/2021 Number issued 4,000,000 11,000,000 11,000,000 Share price at grant date $0.0260 $0.026 $0.026 Exercise Price $0.0600 $0.060 $0.060 Life of options (years) 3 Years 3 Years 3 Years Expected share price volatility 92.397% 115.288% 115.288% Weighted average risk-free interest rate 0.200% 0.100% 0.100% Fair value per option $0.01031 $0.01402 $0.01402 Vesting conditions 24 Month Anniversary 2 12 Month Anniversary 3 24 Month Anniversary 3 1 Anniversary of issue date, subject to continuous employment by the Company to the vesting date. 2 Anniversary of issue date, subject to continuous rendering of services to the Company to the vesting date. 3 Anniversary of shareholder approval, subject to the option holder remaining as a Director of the Company until vesting date. 4 Vested upon resignation as resolved by the Board of Directors.