STOCKHOLDERS EQUITY

9 Months Ended

Sep. 30, 2023

STOCKHOLDERS EQUITY

STOCKHOLDERS' EQUITY

NOTE 9 – STOCKHOLDERS’ DEFICIT

Common Stock

During the nine months ending September 30, 2023, the Company issued the following:

· The Company did not issue any shares of common stock.

Equity Incentive Plan

The Company’s 2006 Equity Incentive Plan, as amended and restated (the “Equity Incentive Plan”), provides for grants of stock options, as well as grants of stock, including restricted stock. Approximately 3.0 million shares of common stock are authorized for issuance under the Equity Incentive Plan, of which 3.0 million shares were available for issuance as of September 30, 2023

Preferred Stock

The Company has designated 1,000 shares of its preferred stock as Series A Preferred Stock. Each share of Series A Preferred shall have no dividend, voting or other rights except for the right to elect Class I Directors. As of September 30, 2023, the Company has 1,000 shares of Series A Preferred Stock outstanding.

Warrants

On July 12, 2023, the Company granted non-qualified stock warrants purchasing up to 1,000,000 shares of common stock at an exercise price of $0.60 per share.  The option to purchase can be exercised at or after the date of the Company’s S1 registration filing of which date is yet to be determined.

On August 01, 2023, the Company granted non-qualified stock warrants purchasing up to 1,000,000 shares of common stock at an exercise price of $0.60 per share.  The option to purchase can be exercised at or after the date of the Company’s S1 registration filing of which date is yet to be determined.

On August 07, 2023, the Company granted non-qualified stock warrants purchasing up to 500,000 shares of common stock at an exercise price of $0.60 per share.  The option to purchase can be exercised at or after the date of the Company’s S1 registration filing of which date is yet to be determined.

The following is a summary of the Company’s warrant activity during the nine-month periods ended September 30, 2023 and 2022 respectively:

	Number of		Exercise
	Warrants		Price
Balance, January 1, 2023		21,400,000	$	0.60
Issued		2,500,000		0.60
Exercised		-		-
Forfeited		-		-
Balance, September 30, 2023		23,900,000	$	0.60
	Number of		Exercise
	Warrants		Price
		21,400,000	$	0.60
Issued		-		-
Exercised		-		-
Forfeited		-		-
Balance, September 30, 2022		21,400,000	$	0.60