Capital

6 Months Ended

Jun. 30, 2022

Capital

Capital

Note 5 – Capital

During the year ended December 31, 2021 we issued a net of 1,746,133,668 in common shares. The explanation of the nature of those issuances can be found in Note 4 of the financial statements included in our Form 10-K filed with the Securities and Exchange Commission as of December 31, 2021 and filed on March 24, 2022 and herewith included by reference.

During the six months ended June 30, 2022, we issued the following common shares:

· 94,614,156 shares converting $83,171 of principal and $5,792 in interest for convertible debt into equity. We recognized no gain or loss on the transactions.

· 1,600,000 shares an enticement for a convertible promissory note. We valued the shares at the grant date fair value and included $3,200 into equity. We accounted for the cost of these shares as a debt discount to be amortized over the life of the loan.

Stock Payable

For the six months ended June 30, 2022 we recorded stock payable to consultants of $87,175 pursuant to our contracts with them.

Other than the above, there was no change in stock payable from December 31, 2021 to June 30, 2022. The explanation of the changes and balances for the year ended December 31, 2021 can be found in Note 4 of the financial statements included in our Form 10-K filed with the Securities and Exchange Commission as of December 31, 2021 and filed on March 24, 2021 and herewith included by reference.

Preferred Stock

In October, 2016 we issued 13,795,104 shares of Series D preferred stock to our (then) directors in exchange for 1,379,510,380 shares of common stock. This series of preferred stock was subject to two separate rights to convert to common stock. The first could be elected by the shareholder if the stock sold for greater than $3 per share. The second was automatic and would not be trigger until October 5, 2021. On that date, the original 1,379,510,380 common shares were issued retiring the Series D preferred stock. There was no gain or loss on the conversion because the value of the common shares issued equaled the value of the Series D Preferred shares.

Imputed Interest

Certain of our promissory notes bear no nominal interest. We therefore imputed interest expense and increased Additional Paid in Capital. For the six months ended June 30, 2022, we imputed $4,722 of such interest. For the same period in 2021, we imputed $2,830.