Equity

6 Months Ended

Jun. 30, 2022

Stockholders' Equity Note [Abstract]

Equity [Text Block]

5. Equity

The Company issued no shares in 2022 of its preferred or common stock during through the merger date.  Nor were any shares issued during three month periods ended March 31, 2021.  At merger date, the Company has the following stock payable amounts that represent shares of common stock to be issued:

Authorized by board during March 29, 2022 meeting:
Compensation to Mr. Ollila	$	750,000
Compensation to Justin Weissberg, Chairman of the Company		214,000
		964,000
In exchange for:
Promissory note due to Mr. Ollila		8,000
Accrued interest due to Mr. Ollila		1,450
Accrued wages due to Mr. Ollila		24,768
Accrued wages due to Mr. Weissberg		9,000
		1,007,218
Stock options exercised during the three month period ended March 31, 2022		12,784
Stock payable at March 31, 2022	$	1,020,002

The shares authorized to be issued to Mr. Ollila and Mr. Weissberg for compensation on March 29, 2022 were subsequently modified on April 20, 2022 to include vesting terms over a period of eight years. Upon completion of the Merger, all vesting of Evasyst shares were accelerated as consistent with the Company’s Stock Plan.

For the three month period ended March 31, 2022, Mr. Ollila and Mr. Weissberg's compensation was calculated based upon the number of Live Current shares that each individual received upon the merger multiplied by the trading price of Live Current shares on the date of the board authorized the compensation.

During the three months ended June 30, 2022, the Company issued 220,440 shares of common stock to settle the stock payable prior to its merger with Live Current.

Stock options

During the six month periods ended June 30, 2022 and 2021, no options were granted, expired or forfeited. During the six month period ended June 30, 2022, 56,044 options were exercised for total proceeds of $12,784. In early April 2022, the remaining 125,459 outstanding options were exercised on a cashless basis.

Preferred stock

During the three month period ended June 30, 2022, all of the Company's outstanding preferred stock was converted into 907,232 shares of the Company's common stock in connection with the Company's merger with Live Current.