STOCKHOLDERS DEFICIT

3 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Note 8 - STOCKHOLDERS DEFICIT

Common stock returned by a director or officer

On March 13, 2019, a former Company director voluntarily returned 4,555,918 shares of Company common stock to Treasury. 

Shares to be issued

As of December 31, 2018, the Company had not yet issued 3,964,352 shares of common stock with a value of $243,839 for past services provided and an acquisition.  During the three months ended March 31, 2019, the Company was obligated to issue an additional 60,000 shares of common, valued at $184, per the terms of a consulting agreement (see Note 4), and 1,000,000 shares of common stock valued at $3,500, as consideration for amending an existing convertible note.  As of March 31, 2019, the Company had not yet issued 5,024,352 shares of common stock with a value of $247,523. 

Warrants

A summary of warrants for the year ended December 31, 2018, is as follows: 

			Weighted
	Number		Average
	of		Exercise
	Warrants		Price
Balance outstanding, December 31, 2018		8,004,708		0.014
Warrants granted		-		-
Warrants exercised		-		-
Warrants expired or forfeited		-		-
Balance outstanding, March 31, 2019		8,004,708	$	0.014
Balance exercisable, March 31, 2019		8,004,708	$	0.014

Information relating to outstanding warrants at March 31, 2019, summarized by exercise price, is as follows: 

		Outstanding						Exercisable
						Weighted				Weighted
Exercise Price Per						Average				Average
Share		Shares		Life (Years)		Exercise Price		Shares		Exercise Price
$	0.010 - 0.015		8,004,708		1.69	$	0.014		8,004,708	$	0.014

The weighted-average remaining contractual life of warrants outstanding and exercisable at March 31, 2019 is 1.89 years. Both the outstanding and exercisable warrants outstanding at March 31, 2019 had no intrinsic value.