11. Stockholder's Equity	9 Months Ended
Sep. 30, 2020
Stockholders' equity:
Stockholder's Equity	During the nine month periods ended September 30, 2020 and September 30, 2019, the Company accrued $89,858 and $96,875, respectively, in directors’ fees payable that will be paid in common stock. During the nine months ended September 30, 2020, the Company issued 250,000 shares of common stock to John Lawrence, the Company’s previous president, upon exercise of a warrant. Warrants At December 31, 2019, warrants for purchase of 250,000 shares of the Company’s common stock for $0.25 per share were outstanding and have no expiration date. These warrants were owned by the Company’s previous president. The warrants were exercised on March 18, 2020. Warrants for purchase of 452,041 shares of the Company’s common stock were sold with shares of common stock in 2019. The warrants have an exercise price of $0.65 per share and expire in 2022. None have been exercised and all are outstanding at September 30, 2020 and December 31, 2019. Warrants for purchase of 5,742,858 shares of the Company’s common stock were sold with shares of common stock in July of 2020. The warrants have an exercise price of $0.46 per share and expire in 2025. None have been exercised and all are outstanding at September 30, 2020. The warrants can be exercised on a cashless basis. The warrants contain a repricing provision whereby if the Company raises at leaset $6,000,000 in gross proceeds from the sale of its common stock at an effective price per share less than the warrants’ exercise price, the exercise price of the warrants will be repriced to the lower price.

11. Stockholder's Equity

9 Months Ended

Sep. 30, 2020

During the nine month periods ended September 30, 2020 and September 30, 2019, the Company accrued $89,858 and $96,875, respectively, in directors’ fees payable that will be paid in common stock.

During the nine months ended September 30, 2020, the Company issued 250,000 shares of common stock to John Lawrence, the Company’s previous president, upon exercise of a warrant.

Warrants

At December 31, 2019, warrants for purchase of 250,000 shares of the Company’s common stock for $0.25 per share were outstanding and have no expiration date. These warrants were owned by the Company’s previous president. The warrants were exercised on March 18, 2020.

Warrants for purchase of 452,041 shares of the Company’s common stock were sold with shares of common stock in 2019. The warrants have an exercise price of $0.65 per share and expire in 2022. None have been exercised and all are outstanding at September 30, 2020 and December 31, 2019.

Warrants for purchase of 5,742,858 shares of the Company’s common stock were sold with shares of common stock in July of 2020. The warrants have an exercise price of $0.46 per share and expire in 2025. None have been exercised and all are outstanding at September 30, 2020. The warrants can be exercised on a cashless basis. The warrants contain a repricing provision whereby if the Company raises at leaset $6,000,000 in gross proceeds from the sale of its common stock at an effective price per share less than the warrants’ exercise price, the exercise price of the warrants will be repriced to the lower price.