0001404804 2022-01-01 2022-03-31 0001404804 2022-03-31 0001404804 2022-05-11 0001404804 2021-12-31 0001404804 2021-01-01 2021-03-31 0001404804 2020-12-31 0001404804 2021-03-31 0001404804 us-gaap:CommonStockMember 2022-01-01 2022-03-31 0001404804 us-gaap:AdditionalPaidInCapitalMember 2022-01-01 2022-03-31 0001404804 us-gaap:RetainedEarningsMember 2022-01-01 2022-03-31 0001404804 us-gaap:CommonStockMember 2021-12-31 0001404804 us-gaap:AdditionalPaidInCapitalMember 2021-12-31 0001404804 us-gaap:RetainedEarningsMember 2021-12-31 0001404804 us-gaap:CommonStockMember 2022-03-31 0001404804 us-gaap:AdditionalPaidInCapitalMember 2022-03-31 0001404804 us-gaap:RetainedEarningsMember 2022-03-31 0001404804 us-gaap:CommonStockMember 2020-12-31 0001404804 us-gaap:AdditionalPaidInCapitalMember 2020-12-31 0001404804 us-gaap:RetainedEarningsMember 2020-12-31 0001404804 us-gaap:CommonStockMember 2021-01-01 2021-03-31 0001404804 us-gaap:AdditionalPaidInCapitalMember 2021-01-01 2021-03-31 0001404804 us-gaap:RetainedEarningsMember 2021-01-01 2021-03-31 0001404804 us-gaap:CommonStockMember 2021-03-31 0001404804 us-gaap:AdditionalPaidInCapitalMember 2021-03-31 0001404804 us-gaap:RetainedEarningsMember 2021-03-31 0001404804 us-gaap:TransferredOverTimeMember 2022-01-01 2022-03-31 0001404804 us-gaap:TransferredOverTimeMember 2021-01-01 2021-03-31 0001404804 us-gaap:TransferredAtPointInTimeMember 2022-01-01 2022-03-31 0001404804 us-gaap:TransferredAtPointInTimeMember 2021-01-01 2021-03-31 0001404804 us-gaap:GeographicDistributionDomesticMember 2022-01-01 2022-03-31 0001404804 us-gaap:GeographicDistributionDomesticMember 2021-01-01 2021-03-31 0001404804 us-gaap:GeographicDistributionForeignMember 2022-01-01 2022-03-31 0001404804 us-gaap:GeographicDistributionForeignMember 2021-01-01 2021-03-31 0001404804 fil:FiltersMember 2022-01-01 2022-03-31 0001404804 fil:FiltersMember 2021-01-01 2021-03-31 0001404804 fil:ComponentsMember 2022-01-01 2022-03-31 0001404804 fil:ComponentsMember 2021-01-01 2021-03-31 0001404804 fil:EngineeringServicesMember 2022-01-01 2022-03-31 0001404804 fil:EngineeringServicesMember 2021-01-01 2021-03-31 0001404804 fil:ProductionEquipmentMember 2022-03-31 0001404804 fil:ProductionEquipmentMember 2021-03-31 0001404804 us-gaap:LandAndLandImprovementsMember 2022-03-31 0001404804 us-gaap:LandAndLandImprovementsMember 2021-03-31 0001404804 fil:BackRentMember 2022-03-31 0001404804 fil:President1Member 2022-03-31 0001404804 fil:President1Member 2021-03-31 0001404804 srt:ChiefExecutiveOfficerMember 2022-03-31 0001404804 srt:ChiefExecutiveOfficerMember 2022-03-31 2022-03-31 0001404804 fil:BoardMember 2022-03-31 0001404804 fil:BoardMember 2022-03-31 2022-03-31 0001404804 fil:SbaEidlLoanMember 2020-04-21 2022-03-31 0001404804 fil:SbaEidlLoanMember 2022-03-31 0001404804 fil:SbaEidlLoanMember 2021-12-31 0001404804 fil:EmployeeStockOption1Member 2022-01-01 2022-03-31 0001404804 fil:EmployeeStockOption1Member 2021-01-01 2021-03-31 0001404804 fil:EmployeeStockOption1Member fil:N2011LongTermIncentivePlanMember 2011-08-03 0001404804 fil:EmployeeStockOption1Member fil:N2011LongTermIncentivePlanMember 2022-03-31 0001404804 fil:EmployeeStockOption1Member fil:N2015LongTermIncentivePlanMember 2022-03-31 0001404804 fil:EmployeeStockOption1Member fil:N2017LongTermIncentivePlanMember 2017-10-01 0001404804 fil:EmployeeStockOption1Member fil:N2017LongTermIncentivePlanMember 2022-03-31 0001404804 2019-12-31 0001404804 srt:MinimumMember 2022-01-01 2022-03-31 0001404804 srt:MaximumMember 2022-01-01 2022-03-31 pure iso4217:USD shares iso4217:USD shares 0001404804 --12-31 false 2022 Q1 false 10-Q true 2022-03-31 000-53955 OMNITEK ENGINEERING CORP. CA 33-0984450 1345 Specialty Dr. #E Vista CA 92081 760 591-0089 Yes Yes Non-accelerated Filer true false false 21948091 40604 59674 12563 9555 678239 717044 13221 13221 21200 4230 765827 803724 13621 14373 563846 593697 13514 13514 577360 607211 1356808 1425308 396486 373221 628812 620735 123320 124472 15000 15000 20000 31090 75000 75000 170870 170870 109242 106149 1538730 1516537 198674 198674 21220 12826 475822 504963 695716 716463 2234446 2233000 125000000 125000000 0 0 21948091 21948091 21600189 21600189 8607086 8607086 12036016 12033454 -21520740 -21448232 -877638 -807692 1356808 1425308 258851 218113 170605 104410 0 24901 170605 129311 88246 88802 138696 166453 16252 16456 752 135 155700 183044 -67454 -94242 5054 6808 0 100655 -5054 93847 -72508 -395 0 0 -72508 -395 -0.00 -0.00 21600189 21600189 -72508 -395 752 135 0 24901 2562 11283 29850 0 0 100655 -3008 5072 26048 0 0 4980 -16970 -11022 -38805 -14621 23266 -6273 0 -43436 -1152 1833 8077 8077 -16374 -100839 0 0 2696 0 0 100000 -2696 100000 -19070 -839 59674 60729 40604 59890 2491 3183 21948091 8607086 12033454 -21448232 -807692 0 0 2562 2562 0 0 -72508 -72508 21948091 8607086 12036016 -21520740 -877638 21600189 8578210 12013298 -21465641 -874133 0 0 11283 0 11283 0 0 0 -395 -395 21600189 8578210 12024581 -21466036 -863245 <p style="font:10pt Times New Roman;margin:0;color:#000000">NOTE 1 - CONDENSED FINANCIAL STATEMENTS</p> <p style="font:8pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000">The accompanying financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows at March 31, 2022 and for all periods presented herein, have been made.</p> <p style="font:8pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000">Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted.  It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company's December 31, 2021 audited financial statements.  The results of operations for the periods ended March 31, 2022 and 2021 are not necessarily indicative of the operating results for the full years.</p> <p style="font:10pt Times New Roman;margin:0;color:#000000">NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES</p> <p style="font:7pt Times New Roman;margin:0;margin-left:-27pt;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"><span style="border-bottom:1px solid #000000">Use of Estimates</span></p> <p style="font:7pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000">The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Actual results could differ from those estimates.</p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"><span style="border-bottom:1px solid #000000">Revenue Recognition </span></p> <p style="font:7pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000">In general, revenue is recognized when control of the promised goods is transferred to our customers, in an amount that reflects the consideration to which we expect to be entitled in exchange for the goods or services. In order to achieve that core principle, a five-step approach is applied: (1) identify the contract with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue allocated to each performance obligation when we satisfy the performance obligation. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account for revenue recognition. </p> <p style="font:7pt Times New Roman;margin:0;color:#000000;background-color:#FFFFFF"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000;background-color:#FFFFFF">We recognize revenue on various products and services as follows:</p> <p style="font:7pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"><i>Products</i> - The Company recognizes revenue from the sale of products (e.g., filters and engine components) as performance obligations are satisfied. This type of revenue is primarily generated from the sale of finished product to customers. Those sales predominantly contain a single delivery element and revenue is recognized at a single point in time when ownership, risks and rewards transfer (i.e., the performance obligation has been satisfied).</p> <p style="font:7pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"><i>Contracts</i> – Revenues are recognized as performance obligations are satisfied over time (also known as percentage-of-completion method), measured by either achievement of milestones or the ratio of costs incurred up to a given date to estimated total costs for each contract. Contract costs include all direct material, labor, subcontract and other costs. Provisions for estimated losses on uncompleted contracts are made in the period in which such losses are determined. Changes in job performance, job conditions, estimated profitability and associated change orders and claims, including those changes arising from contract penalty provisions and final contract settlements, may result in revisions to costs and income and are recognized in the period in which the revisions are determined.  </p> <p style="font:8pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"><b>Performance Obligations</b></p> <p style="font:7pt Times New Roman;margin:0;text-indent:36pt;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000">A performance obligation is a promise in a contract to transfer a distinct good<b> </b>or service to a customer and is the unit of account in the new revenue standard. The contract transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The majority of Omnitek’s contracts have a single performance obligation as the promise to transfer the individual goods or services is not separately identifiable from other promises in the contracts and, therefore, not distinct. </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify">NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES (Continued)</p> <p style="font:8pt Times New Roman;margin:0;text-indent:36pt;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000"><i>Performance Obligations Satisfied Over Time</i></p> <p style="font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000">Revenues for Omnitek’s long-term contracts that satisfy the criteria for over time recognition (formerly known as percentage-of-completion method) is recognized as the work progresses. The majority of the revenue is derived from long-term engine development agreements that typically span between 12 to 24 months. Omnitek’s long-term contracts will continue to be recognized over time because our typical contract is for a customized asset with no alternative use and generally the Company has a right to payment for work completed to date. Under the new revenue standard, the cost-to-cost measure of progress continues to best depict the transfer of control of assets to the customer, which occurs as the Company incurs costs. Contract costs include labor and material. Revenue from products and services transferred to customers over time accounted for 0% and 0% of revenue for the periods ended March 31, 2022 and 2021, respectively. </p> <p style="font:8pt Times New Roman;margin:0;text-indent:36pt;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000"><i>Performance Obligations Satisfied at a Point in Time</i></p> <p style="font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000"> Revenue from product sales is recognized at a point in time. These sales predominantly contain a single delivery element and revenue is recognized at a single point in time when ownership, risk and rewards transfer. Upon fulfilment of the performance obligation, the customer is provided an invoice demonstrating transfer of control to the customer. Revenue from goods and services transferred to customers at a point in time accounted for 100% and 100% of revenue for the periods ended March 31, 2022 and 2021, respectively. </p> <p style="font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000">Assurance-type warranties are the only warranties provided by the Company and, as such, Omnitek does not recognize revenue on warranty-related work. Omnitek generally provides a one-year warranty for products that it sells. Warranty claims historically have been insignificant. </p> <p style="font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000">Pre-contract costs are generally not incurred by the Company.</p> <p style="font:8pt Times New Roman;margin:0;text-indent:36pt;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"><b>Contract Estimates</b></p> <p style="font:7pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="margin-left:36pt"/>Accounting for long-term contracts involves the use of various techniques to estimate total contract revenue and costs. For long-term contracts, Omnitek estimates the profit on a contract as the difference between the total estimated revenue and expected costs to complete a contract and recognizes that profit over the life of the contract.  </p> <p style="font:8pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="margin-left:36pt"/><i>Variable Consideration</i> </p> <p style="font:8pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="margin-left:36pt"/>The transaction price for contracts may include variable consideration, which includes increases to transaction price for approved and unapproved change orders, claims and incentives, and reductions to transaction price for liquidated damages. Variable consideration historically has been insignificant.  </p> <p style="font:8pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"><b>Disaggregation of Revenue</b></p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="margin-left:36pt"/>The following table presents Omnitek’s revenues disaggregated by region and product type: </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <table style="margin:0 auto;border-collapse:collapse;width:100%"><tr><td style="width:15.06%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td colspan="3" style="width:41.38%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">For the three months ended March 31,</p> </td><td style="width:2.24%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td colspan="3" style="width:41.3%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">For the three months ended March 31,</p> </td></tr> <tr><td style="width:15.06%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td colspan="3" style="width:41.38%;border-bottom:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"><b>2022</b></p> </td><td style="width:2.24%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td colspan="3" style="width:41.3%;border-bottom:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"><b>2021</b></p> </td></tr> <tr><td style="width:15.06%;border-bottom:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Segments</p> </td><td style="width:13.8%;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">Consumer <br/>Products</p> </td><td style="width:13.8%;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">Long-term <br/>Contract</p> </td><td style="width:13.78%;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">Total</p> </td><td style="width:2.24%;border-bottom:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:13.78%;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">Consumer <br/>Products</p> </td><td style="width:13.78%;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">Long-term <br/>Contract</p> </td><td style="width:13.74%;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">Total</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:15.06%;border-top:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Domestic</p> </td><td style="background-color:#CCEEFF;width:13.8%;border-top:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;font:10pt Times New Roman;margin-left:7pt">$</kbd><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:58pt">115,368</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.8%;border-top:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:58pt">-</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.78%;border-top:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">115,368</kbd> </p> </td><td style="background-color:#CCEEFF;width:2.24%;border-top:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="background-color:#CCEEFF;width:13.78%;border-top:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;font:10pt Times New Roman;margin-left:7pt">$</kbd><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">132,782</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.78%;border-top:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">-</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.74%;border-top:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">132,782</kbd> </p> </td></tr> <tr><td style="width:15.06%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">International</p> </td><td style="width:13.8%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:58pt">143,483</kbd> </p> </td><td style="width:13.8%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:58pt">-</kbd> </p> </td><td style="width:13.78%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">143,483</kbd> </p> </td><td style="width:2.24%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:13.78%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">85,331</kbd> </p> </td><td style="width:13.78%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">-</kbd> </p> </td><td style="width:13.74%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">85,331</kbd> </p> </td></tr> <tr><td style="background-color:#CCEEFF;width:15.06%" valign="bottom"/><td style="background-color:#CCEEFF;width:13.8%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;font:10pt Times New Roman;margin-left:7pt">$</kbd><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:58pt">258,851</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.8%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:58pt">-</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.78%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">258,851</kbd> </p> </td><td style="background-color:#CCEEFF;width:2.24%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="background-color:#CCEEFF;width:13.78%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;font:10pt Times New Roman;margin-left:7pt">$</kbd><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">218,113</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.78%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">-</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.74%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">218,113</kbd> </p> </td></tr> <tr><td style="width:15.06%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:13.8%;border-top:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:13.8%;border-top:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:13.78%;border-top:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:2.24%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:13.78%;border-top:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:13.78%;border-top:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:13.74%;border-top:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td></tr> <tr><td style="background-color:#CCEEFF;width:15.06%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Filters</p> </td><td style="background-color:#CCEEFF;width:13.8%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;font:10pt Times New Roman;margin-left:7pt">$</kbd><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:58pt">147,518</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.8%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:58pt">-</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.78%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">147,518</kbd> </p> </td><td style="background-color:#CCEEFF;width:2.24%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="background-color:#CCEEFF;width:13.78%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;font:10pt Times New Roman;margin-left:7pt">$</kbd><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">104,356</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.78%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">-</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.74%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">104,356</kbd> </p> </td></tr> <tr><td style="width:15.06%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Components</p> </td><td style="width:13.8%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:58pt">111,333</kbd> </p> </td><td style="width:13.8%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:58pt">-</kbd> </p> </td><td style="width:13.78%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">111,333</kbd> </p> </td><td style="width:2.24%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:13.78%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">105,287</kbd> </p> </td><td style="width:13.78%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">-</kbd> </p> </td><td style="width:13.74%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">105,287</kbd> </p> </td></tr> <tr><td style="background-color:#CCEEFF;width:15.06%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Engineering Services</p> </td><td style="background-color:#CCEEFF;width:13.8%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:58pt">-</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.8%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:58pt">-</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.78%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">-</kbd> </p> </td><td style="background-color:#CCEEFF;width:2.24%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="background-color:#CCEEFF;width:13.78%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">8,470</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.78%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">-</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.74%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">8,470</kbd> </p> </td></tr> <tr><td style="width:15.06%" valign="bottom"/><td style="width:13.8%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;font:10pt Times New Roman;margin-left:7pt">$</kbd><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:58pt">258,851</kbd> </p> </td><td style="width:13.8%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:58pt">-</kbd> </p> </td><td style="width:13.78%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">258,851</kbd> </p> </td><td style="width:2.24%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:13.78%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;font:10pt Times New Roman;margin-left:7pt">$</kbd><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">218,113</kbd> </p> </td><td style="width:13.78%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">-</kbd> </p> </td><td style="width:13.74%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">218,113</kbd> </p> </td></tr> </table> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000">NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES (Continued)</p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"><span style="border-bottom:1px solid #000000">Inventory</span></p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000;background-color:#FFFFFF">Inventory is stated at the lower of cost or market.  The Company’s inventory consists of finished goods and raw material and is located in Vista, California, consisting of the following:</p> <p style="font:10pt Times New Roman;margin:0;color:#000000;background-color:#FFFFFF"> </p> <table style="margin:0 auto;border-collapse:collapse;width:100%"><tr><td style="width:57.7%" valign="bottom"><p style="font:13pt Times New Roman;margin:0;color:#339966"><span style="font-size:10pt;color:#000000">Location : Vista, CA</span></p> </td><td style="width:3.76%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:15.46%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">March 31,<br/>2022</p> </td><td style="width:2.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:3.76%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:16.76%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">December 31,<br/>2021</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:57.7%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;text-indent:10pt;color:#000000">Raw materials</p> </td><td style="background-color:#CCEEFF;width:3.76%;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">$</p> </td><td style="background-color:#CCEEFF;width:15.46%;border-top:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;text-indent:22.9pt;color:#000000;text-align:right">857,257</p> </td><td style="background-color:#CCEEFF;width:2.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:3.76%;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">$</p> </td><td style="background-color:#CCEEFF;width:16.76%;border-top:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">846,499</p> </td></tr> <tr><td style="width:57.7%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;text-indent:10pt;color:#000000">Finished goods</p> </td><td style="width:3.76%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:15.46%" valign="top"><p style="font:10pt Times New Roman;margin:0;text-indent:22.9pt;color:#000000;text-align:right">752,717</p> </td><td style="width:2.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:3.76%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:16.76%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">802,280</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:57.7%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;text-indent:10pt;color:#000000">Allowance for obsolete inventory</p> </td><td style="background-color:#CCEEFF;width:3.76%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="background-color:#CCEEFF;width:15.46%;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;text-indent:22.9pt;color:#000000;text-align:right">(931,735)</p> </td><td style="background-color:#CCEEFF;width:2.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:3.76%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="background-color:#CCEEFF;width:16.76%;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">(931,735)</p> </td></tr> <tr><td style="width:57.7%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Total</p> </td><td style="width:3.76%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">$</p> </td><td style="width:15.46%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;text-indent:22.9pt;color:#000000;text-align:right">678,239</p> </td><td style="width:2.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:3.76%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">$</p> </td><td style="width:16.76%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">717,044</p> </td></tr> </table> <p style="font:10pt Times New Roman;margin:0;color:#000000;background-color:#FFFFFF"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000;background-color:#FFFFFF">The Company has established an allowance for obsolete inventory.  Expense for obsolete inventory was $-0- and $24,901, for the periods ended March 31, 2022 and March 31, 2021, respectively.</p> <p style="font:10pt Times New Roman;margin:0;color:#000000;background-color:#FFFFFF"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"><span style="border-bottom:1px solid #000000">Property and Equipment</span></p> <p style="font:10pt Times New Roman;margin:0;text-indent:-54pt;margin-left:54pt;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000">Property and equipment at March 31, 2022 and December 31, 2021 consisted of the following:</p> <p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> <table style="margin:0 auto;border-collapse:collapse;width:100%"><tr><td style="width:59.64%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td colspan="2" style="width:19.1%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">March 31,</p> </td><td style="width:2.64%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td colspan="2" style="width:18.62%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">December 31,</p> </td></tr> <tr><td style="width:59.64%" valign="bottom"/><td colspan="2" style="width:19.1%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">2022</p> </td><td style="width:2.64%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td colspan="2" style="width:18.62%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">2021</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:59.64%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Production equipment</p> </td><td style="background-color:#CCEEFF;width:4.54%;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">$</p> </td><td style="background-color:#CCEEFF;width:14.56%;border-top:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">68,456</p> </td><td style="background-color:#CCEEFF;width:2.64%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:4.54%;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">$</p> </td><td style="background-color:#CCEEFF;width:14.08%;border-top:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">68,456</p> </td></tr> <tr><td style="width:59.64%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Leasehold Improvements</p> </td><td style="width:4.54%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:14.56%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">10,627</p> </td><td style="width:2.64%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:4.54%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:14.08%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">10,627</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:59.64%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Less: accumulated depreciation</p> </td><td style="background-color:#CCEEFF;width:4.54%;border-bottom:1pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="background-color:#CCEEFF;width:14.56%;border-bottom:1pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">(65,462)</p> </td><td style="background-color:#CCEEFF;width:2.64%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:4.54%;border-bottom:1pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="background-color:#CCEEFF;width:14.08%;border-bottom:1pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">(64,710)</p> </td></tr> <tr><td style="width:59.64%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Total</p> </td><td style="width:4.54%;border-top:1pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">$</p> </td><td style="width:14.56%;border-top:1pt solid #000000;border-bottom:3px double #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">13,621</p> </td><td style="width:2.64%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:4.54%;border-top:1pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">$</p> </td><td style="width:14.08%;border-top:1pt solid #000000;border-bottom:3px double #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">14,373</p> </td></tr> </table> <p style="font:10pt Times New Roman;margin:0;text-indent:-54pt;margin-left:54pt;color:#000000;text-align:justify"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000">Depreciation expense for the periods ended March 31, 2022 and March 31, 2021 was $752 and $135, respectively.</p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"><span style="border-bottom:1px solid #000000">Basic and Diluted Loss per Share </span></p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000">The computation of basic earnings per share of common stock is based on the weighted average number of shares outstanding during the periods presented. The computation of fully diluted earnings per share includes common stock equivalents outstanding at the balance sheet date. The Company had 3,173,889 and 2,998,889 stock options and warrants that would have been included in the fully diluted earnings per share as of March 31, 2022 and March 31, 2021, respectively.  However, the common stock equivalents were not included in the computation of the loss per share computation because they are anti dilutive.  </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"><span style="border-bottom:1px solid #000000">Income Taxes </span></p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000">The Company accounts for income taxes in accordance with Accounting Standards Codification Topic 740, Income Taxes ("Topic 740"), which requires the recognition of deferred tax liabilities and assets at currently enacted tax rates for the expected future tax consequences of events that have been included in the financial statements or tax returns. A valuation allowance is recognized to reduce the net deferred tax asset to an amount that is more likely than not to be realized. </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000">Topic 740 provides guidance on the accounting for uncertainty in income taxes recognized in a company's financial statements. Topic 740 requires a company to determine whether it is more likely than not that a tax position will be sustained upon examination based upon the technical merits of the position. If the more likely-than-not threshold is met, a company must measure the tax position to determine the amount to recognize in the financial statements.</p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000">The Company includes interest and penalties arising from the underpayment of income taxes in the statements of operations in the provision for income taxes. As of March 31, 2022 and December 31, 2021 the Company had no accrued interest or penalties related to uncertain tax positions. The Company files an income tax return in the U.S. federal jurisdiction and the state of California. With few exceptions, the Company is no longer subject to U.S. federal, state, and local, or non-U.S. income tax examinations by tax authorities for years before 2012.</p> <p style="font:12pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000">NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES (Continued)</p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"><span style="border-bottom:1px solid #000000">Operating Lease Right-of-Use Assets and Liabilities</span></p> <p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000">Operating lease right-of-use asset represents the Company’s right to use an underlying asset for the lease term and operating lease liability represents its obliation to make lease payments arising from the lease. Operating lease right-of-use assets and liabilities are recognized when the Company takes possession of the leased property (the Commencement Date) based on the present value of lease payments over the lease term. Rent expense on noncancellable leases containing known future scheduled rent increases is recorded on a straight-line basis over the term of the lease beginning on the Commencement Day. </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"><span style="border-bottom:1px solid #000000">Liquidity and Going Concern </span></p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000">Historically, the Company has incurred net losses and negative cash flows from operations.  As of March 31, 2022, the Company had an accumulated deficit of $21,520,740 and total stockholders’ deficit of $877,638.  At March 31, 2022, the Company had current assets of $765,827 including cash of $40,604, and current liabilities of $1,538,730, resulting in negative working capital of $(772,903). For the three months ended March 31, 2022, the Company reported a net loss of $72,508 and net cash used in operating activities of $16,374. Management believes that based on its operating plan, the projected sales for 2022, combined with funds available from its working capital will be sufficient to fund operations for the next twelve months.  However, there can be no assurance that operations and operating cash flows will continue at the current levels or improve in the near future. Whether, and when, the Company can attain profitability and positive cash flows from operations is uncertain. The Company is also uncertain whether it can raise additional capital. These uncertainties cast substantial doubt upon the Company’s ability to continue as a going concern for a period of one year from the issuance of these financial statements. Our financial statements have been prepared on a going concern basis, which assumes the realization of assets and liquidation of liabilities in the normal course of operations. The financial statements do not include any adjustments relating to the recoverability or classification of recorded asset amounts or the amounts or classification of liabilities should we be unable to continue as a going concern.     </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"><span style="border-bottom:1px solid #000000">Recent Accounting Pronouncements </span></p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000">The Company has evaluated recent accounting pronouncements and their adoption has not had or is not expected to have a material impact on the Company’s financial position, or statements. </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"><span style="border-bottom:1px solid #000000">Use of Estimates</span></p> <p style="font:7pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000">The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Actual results could differ from those estimates.</p> <p style="font:10pt Times New Roman;margin:0;color:#000000"><span style="border-bottom:1px solid #000000">Revenue Recognition </span></p> <p style="font:7pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000">In general, revenue is recognized when control of the promised goods is transferred to our customers, in an amount that reflects the consideration to which we expect to be entitled in exchange for the goods or services. In order to achieve that core principle, a five-step approach is applied: (1) identify the contract with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue allocated to each performance obligation when we satisfy the performance obligation. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account for revenue recognition. </p> <p style="font:7pt Times New Roman;margin:0;color:#000000;background-color:#FFFFFF"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000;background-color:#FFFFFF">We recognize revenue on various products and services as follows:</p> <p style="font:7pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"><i>Products</i> - The Company recognizes revenue from the sale of products (e.g., filters and engine components) as performance obligations are satisfied. This type of revenue is primarily generated from the sale of finished product to customers. Those sales predominantly contain a single delivery element and revenue is recognized at a single point in time when ownership, risks and rewards transfer (i.e., the performance obligation has been satisfied).</p> <p style="font:7pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"><i>Contracts</i> – Revenues are recognized as performance obligations are satisfied over time (also known as percentage-of-completion method), measured by either achievement of milestones or the ratio of costs incurred up to a given date to estimated total costs for each contract. Contract costs include all direct material, labor, subcontract and other costs. Provisions for estimated losses on uncompleted contracts are made in the period in which such losses are determined. Changes in job performance, job conditions, estimated profitability and associated change orders and claims, including those changes arising from contract penalty provisions and final contract settlements, may result in revisions to costs and income and are recognized in the period in which the revisions are determined.  </p> <p style="font:8pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"><b>Performance Obligations</b></p> <p style="font:7pt Times New Roman;margin:0;text-indent:36pt;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000">A performance obligation is a promise in a contract to transfer a distinct good<b> </b>or service to a customer and is the unit of account in the new revenue standard. The contract transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The majority of Omnitek’s contracts have a single performance obligation as the promise to transfer the individual goods or services is not separately identifiable from other promises in the contracts and, therefore, not distinct. </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify">NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES (Continued)</p> <p style="font:8pt Times New Roman;margin:0;text-indent:36pt;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000"><i>Performance Obligations Satisfied Over Time</i></p> <p style="font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000">Revenues for Omnitek’s long-term contracts that satisfy the criteria for over time recognition (formerly known as percentage-of-completion method) is recognized as the work progresses. The majority of the revenue is derived from long-term engine development agreements that typically span between 12 to 24 months. Omnitek’s long-term contracts will continue to be recognized over time because our typical contract is for a customized asset with no alternative use and generally the Company has a right to payment for work completed to date. Under the new revenue standard, the cost-to-cost measure of progress continues to best depict the transfer of control of assets to the customer, which occurs as the Company incurs costs. Contract costs include labor and material. Revenue from products and services transferred to customers over time accounted for 0% and 0% of revenue for the periods ended March 31, 2022 and 2021, respectively. </p> <p style="font:8pt Times New Roman;margin:0;text-indent:36pt;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000"><i>Performance Obligations Satisfied at a Point in Time</i></p> <p style="font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000"> Revenue from product sales is recognized at a point in time. These sales predominantly contain a single delivery element and revenue is recognized at a single point in time when ownership, risk and rewards transfer. Upon fulfilment of the performance obligation, the customer is provided an invoice demonstrating transfer of control to the customer. Revenue from goods and services transferred to customers at a point in time accounted for 100% and 100% of revenue for the periods ended March 31, 2022 and 2021, respectively. </p> <p style="font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000">Assurance-type warranties are the only warranties provided by the Company and, as such, Omnitek does not recognize revenue on warranty-related work. Omnitek generally provides a one-year warranty for products that it sells. Warranty claims historically have been insignificant. </p> <p style="font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000">Pre-contract costs are generally not incurred by the Company.</p> <p style="font:8pt Times New Roman;margin:0;text-indent:36pt;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"><b>Contract Estimates</b></p> <p style="font:7pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="margin-left:36pt"/>Accounting for long-term contracts involves the use of various techniques to estimate total contract revenue and costs. For long-term contracts, Omnitek estimates the profit on a contract as the difference between the total estimated revenue and expected costs to complete a contract and recognizes that profit over the life of the contract.  </p> <p style="font:8pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="margin-left:36pt"/><i>Variable Consideration</i> </p> <p style="font:8pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="margin-left:36pt"/>The transaction price for contracts may include variable consideration, which includes increases to transaction price for approved and unapproved change orders, claims and incentives, and reductions to transaction price for liquidated damages. Variable consideration historically has been insignificant.  </p> <p style="font:8pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"><b>Disaggregation of Revenue</b></p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="margin-left:36pt"/>The following table presents Omnitek’s revenues disaggregated by region and product type: </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <table style="margin:0 auto;border-collapse:collapse;width:100%"><tr><td style="width:15.06%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td colspan="3" style="width:41.38%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">For the three months ended March 31,</p> </td><td style="width:2.24%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td colspan="3" style="width:41.3%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">For the three months ended March 31,</p> </td></tr> <tr><td style="width:15.06%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td colspan="3" style="width:41.38%;border-bottom:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"><b>2022</b></p> </td><td style="width:2.24%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td colspan="3" style="width:41.3%;border-bottom:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"><b>2021</b></p> </td></tr> <tr><td style="width:15.06%;border-bottom:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Segments</p> </td><td style="width:13.8%;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">Consumer <br/>Products</p> </td><td style="width:13.8%;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">Long-term <br/>Contract</p> </td><td style="width:13.78%;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">Total</p> </td><td style="width:2.24%;border-bottom:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:13.78%;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">Consumer <br/>Products</p> </td><td style="width:13.78%;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">Long-term <br/>Contract</p> </td><td style="width:13.74%;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">Total</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:15.06%;border-top:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Domestic</p> </td><td style="background-color:#CCEEFF;width:13.8%;border-top:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;font:10pt Times New Roman;margin-left:7pt">$</kbd><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:58pt">115,368</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.8%;border-top:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:58pt">-</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.78%;border-top:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">115,368</kbd> </p> </td><td style="background-color:#CCEEFF;width:2.24%;border-top:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="background-color:#CCEEFF;width:13.78%;border-top:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;font:10pt Times New Roman;margin-left:7pt">$</kbd><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">132,782</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.78%;border-top:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">-</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.74%;border-top:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">132,782</kbd> </p> </td></tr> <tr><td style="width:15.06%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">International</p> </td><td style="width:13.8%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:58pt">143,483</kbd> </p> </td><td style="width:13.8%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:58pt">-</kbd> </p> </td><td style="width:13.78%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">143,483</kbd> </p> </td><td style="width:2.24%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:13.78%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">85,331</kbd> </p> </td><td style="width:13.78%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">-</kbd> </p> </td><td style="width:13.74%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">85,331</kbd> </p> </td></tr> <tr><td style="background-color:#CCEEFF;width:15.06%" valign="bottom"/><td style="background-color:#CCEEFF;width:13.8%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;font:10pt Times New Roman;margin-left:7pt">$</kbd><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:58pt">258,851</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.8%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:58pt">-</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.78%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">258,851</kbd> </p> </td><td style="background-color:#CCEEFF;width:2.24%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="background-color:#CCEEFF;width:13.78%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;font:10pt Times New Roman;margin-left:7pt">$</kbd><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">218,113</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.78%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">-</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.74%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">218,113</kbd> </p> </td></tr> <tr><td style="width:15.06%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:13.8%;border-top:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:13.8%;border-top:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:13.78%;border-top:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:2.24%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:13.78%;border-top:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:13.78%;border-top:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:13.74%;border-top:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td></tr> <tr><td style="background-color:#CCEEFF;width:15.06%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Filters</p> </td><td style="background-color:#CCEEFF;width:13.8%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;font:10pt Times New Roman;margin-left:7pt">$</kbd><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:58pt">147,518</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.8%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:58pt">-</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.78%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">147,518</kbd> </p> </td><td style="background-color:#CCEEFF;width:2.24%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="background-color:#CCEEFF;width:13.78%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;font:10pt Times New Roman;margin-left:7pt">$</kbd><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">104,356</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.78%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">-</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.74%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">104,356</kbd> </p> </td></tr> <tr><td style="width:15.06%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Components</p> </td><td style="width:13.8%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:58pt">111,333</kbd> </p> </td><td style="width:13.8%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:58pt">-</kbd> </p> </td><td style="width:13.78%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">111,333</kbd> </p> </td><td style="width:2.24%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:13.78%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">105,287</kbd> </p> </td><td style="width:13.78%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">-</kbd> </p> </td><td style="width:13.74%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">105,287</kbd> </p> </td></tr> <tr><td style="background-color:#CCEEFF;width:15.06%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Engineering Services</p> </td><td style="background-color:#CCEEFF;width:13.8%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:58pt">-</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.8%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:58pt">-</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.78%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">-</kbd> </p> </td><td style="background-color:#CCEEFF;width:2.24%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="background-color:#CCEEFF;width:13.78%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">8,470</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.78%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">-</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.74%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">8,470</kbd> </p> </td></tr> <tr><td style="width:15.06%" valign="bottom"/><td style="width:13.8%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;font:10pt Times New Roman;margin-left:7pt">$</kbd><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:58pt">258,851</kbd> </p> </td><td style="width:13.8%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:58pt">-</kbd> </p> </td><td style="width:13.78%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">258,851</kbd> </p> </td><td style="width:2.24%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:13.78%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;font:10pt Times New Roman;margin-left:7pt">$</kbd><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">218,113</kbd> </p> </td><td style="width:13.78%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">-</kbd> </p> </td><td style="width:13.74%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">218,113</kbd> </p> </td></tr> </table> 0 0 1 1 <p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="margin-left:36pt"/>The following table presents Omnitek’s revenues disaggregated by region and product type: </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <table style="margin:0 auto;border-collapse:collapse;width:100%"><tr><td style="width:15.06%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td colspan="3" style="width:41.38%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">For the three months ended March 31,</p> </td><td style="width:2.24%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td colspan="3" style="width:41.3%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">For the three months ended March 31,</p> </td></tr> <tr><td style="width:15.06%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td colspan="3" style="width:41.38%;border-bottom:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"><b>2022</b></p> </td><td style="width:2.24%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td colspan="3" style="width:41.3%;border-bottom:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"><b>2021</b></p> </td></tr> <tr><td style="width:15.06%;border-bottom:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Segments</p> </td><td style="width:13.8%;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">Consumer <br/>Products</p> </td><td style="width:13.8%;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">Long-term <br/>Contract</p> </td><td style="width:13.78%;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">Total</p> </td><td style="width:2.24%;border-bottom:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:13.78%;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">Consumer <br/>Products</p> </td><td style="width:13.78%;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">Long-term <br/>Contract</p> </td><td style="width:13.74%;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">Total</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:15.06%;border-top:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Domestic</p> </td><td style="background-color:#CCEEFF;width:13.8%;border-top:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;font:10pt Times New Roman;margin-left:7pt">$</kbd><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:58pt">115,368</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.8%;border-top:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:58pt">-</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.78%;border-top:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">115,368</kbd> </p> </td><td style="background-color:#CCEEFF;width:2.24%;border-top:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="background-color:#CCEEFF;width:13.78%;border-top:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;font:10pt Times New Roman;margin-left:7pt">$</kbd><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">132,782</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.78%;border-top:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">-</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.74%;border-top:0.75pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">132,782</kbd> </p> </td></tr> <tr><td style="width:15.06%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">International</p> </td><td style="width:13.8%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:58pt">143,483</kbd> </p> </td><td style="width:13.8%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:58pt">-</kbd> </p> </td><td style="width:13.78%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">143,483</kbd> </p> </td><td style="width:2.24%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:13.78%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">85,331</kbd> </p> </td><td style="width:13.78%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">-</kbd> </p> </td><td style="width:13.74%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">85,331</kbd> </p> </td></tr> <tr><td style="background-color:#CCEEFF;width:15.06%" valign="bottom"/><td style="background-color:#CCEEFF;width:13.8%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;font:10pt Times New Roman;margin-left:7pt">$</kbd><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:58pt">258,851</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.8%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:58pt">-</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.78%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">258,851</kbd> </p> </td><td style="background-color:#CCEEFF;width:2.24%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="background-color:#CCEEFF;width:13.78%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;font:10pt Times New Roman;margin-left:7pt">$</kbd><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">218,113</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.78%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">-</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.74%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">218,113</kbd> </p> </td></tr> <tr><td style="width:15.06%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:13.8%;border-top:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:13.8%;border-top:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:13.78%;border-top:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:2.24%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:13.78%;border-top:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:13.78%;border-top:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:13.74%;border-top:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td></tr> <tr><td style="background-color:#CCEEFF;width:15.06%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Filters</p> </td><td style="background-color:#CCEEFF;width:13.8%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;font:10pt Times New Roman;margin-left:7pt">$</kbd><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:58pt">147,518</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.8%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:58pt">-</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.78%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">147,518</kbd> </p> </td><td style="background-color:#CCEEFF;width:2.24%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="background-color:#CCEEFF;width:13.78%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;font:10pt Times New Roman;margin-left:7pt">$</kbd><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">104,356</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.78%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">-</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.74%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">104,356</kbd> </p> </td></tr> <tr><td style="width:15.06%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Components</p> </td><td style="width:13.8%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:58pt">111,333</kbd> </p> </td><td style="width:13.8%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:58pt">-</kbd> </p> </td><td style="width:13.78%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">111,333</kbd> </p> </td><td style="width:2.24%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:13.78%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">105,287</kbd> </p> </td><td style="width:13.78%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">-</kbd> </p> </td><td style="width:13.74%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">105,287</kbd> </p> </td></tr> <tr><td style="background-color:#CCEEFF;width:15.06%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Engineering Services</p> </td><td style="background-color:#CCEEFF;width:13.8%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:58pt">-</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.8%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:58pt">-</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.78%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">-</kbd> </p> </td><td style="background-color:#CCEEFF;width:2.24%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="background-color:#CCEEFF;width:13.78%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">8,470</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.78%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">-</kbd> </p> </td><td style="background-color:#CCEEFF;width:13.74%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">8,470</kbd> </p> </td></tr> <tr><td style="width:15.06%" valign="bottom"/><td style="width:13.8%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;font:10pt Times New Roman;margin-left:7pt">$</kbd><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:58pt">258,851</kbd> </p> </td><td style="width:13.8%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:58pt">-</kbd> </p> </td><td style="width:13.78%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">258,851</kbd> </p> </td><td style="width:2.24%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:13.78%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;font:10pt Times New Roman;margin-left:7pt">$</kbd><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">218,113</kbd> </p> </td><td style="width:13.78%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">-</kbd> </p> </td><td style="width:13.74%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:57pt">218,113</kbd> </p> </td></tr> </table> 115368 0 115368 132782 0 132782 143483 0 143483 85331 0 85331 258851 0 258851 218113 0 218113 147518 0 147518 104356 0 104356 111333 0 111333 105287 0 105287 0 0 0 8470 0 8470 258851 0 258851 218113 0 218113 <p style="font:10pt Times New Roman;margin:0;color:#000000"><span style="border-bottom:1px solid #000000">Inventory</span></p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000;background-color:#FFFFFF">Inventory is stated at the lower of cost or market.  The Company’s inventory consists of finished goods and raw material and is located in Vista, California, consisting of the following:</p> <p style="font:10pt Times New Roman;margin:0;color:#000000;background-color:#FFFFFF"> </p> <table style="margin:0 auto;border-collapse:collapse;width:100%"><tr><td style="width:57.7%" valign="bottom"><p style="font:13pt Times New Roman;margin:0;color:#339966"><span style="font-size:10pt;color:#000000">Location : Vista, CA</span></p> </td><td style="width:3.76%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:15.46%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">March 31,<br/>2022</p> </td><td style="width:2.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:3.76%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:16.76%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">December 31,<br/>2021</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:57.7%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;text-indent:10pt;color:#000000">Raw materials</p> </td><td style="background-color:#CCEEFF;width:3.76%;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">$</p> </td><td style="background-color:#CCEEFF;width:15.46%;border-top:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;text-indent:22.9pt;color:#000000;text-align:right">857,257</p> </td><td style="background-color:#CCEEFF;width:2.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:3.76%;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">$</p> </td><td style="background-color:#CCEEFF;width:16.76%;border-top:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">846,499</p> </td></tr> <tr><td style="width:57.7%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;text-indent:10pt;color:#000000">Finished goods</p> </td><td style="width:3.76%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:15.46%" valign="top"><p style="font:10pt Times New Roman;margin:0;text-indent:22.9pt;color:#000000;text-align:right">752,717</p> </td><td style="width:2.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:3.76%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:16.76%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">802,280</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:57.7%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;text-indent:10pt;color:#000000">Allowance for obsolete inventory</p> </td><td style="background-color:#CCEEFF;width:3.76%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="background-color:#CCEEFF;width:15.46%;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;text-indent:22.9pt;color:#000000;text-align:right">(931,735)</p> </td><td style="background-color:#CCEEFF;width:2.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:3.76%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="background-color:#CCEEFF;width:16.76%;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">(931,735)</p> </td></tr> <tr><td style="width:57.7%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Total</p> </td><td style="width:3.76%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">$</p> </td><td style="width:15.46%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;text-indent:22.9pt;color:#000000;text-align:right">678,239</p> </td><td style="width:2.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:3.76%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">$</p> </td><td style="width:16.76%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">717,044</p> </td></tr> </table> <p style="font:10pt Times New Roman;margin:0;color:#000000;background-color:#FFFFFF"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000;background-color:#FFFFFF">The Company has established an allowance for obsolete inventory.  Expense for obsolete inventory was $-0- and $24,901, for the periods ended March 31, 2022 and March 31, 2021, respectively.</p> <p style="font:10pt Times New Roman;margin:0;color:#000000;background-color:#FFFFFF"> </p> <table style="margin:0 auto;border-collapse:collapse;width:100%"><tr><td style="width:57.7%" valign="bottom"><p style="font:13pt Times New Roman;margin:0;color:#339966"><span style="font-size:10pt;color:#000000">Location : Vista, CA</span></p> </td><td style="width:3.76%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:15.46%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">March 31,<br/>2022</p> </td><td style="width:2.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:3.76%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:16.76%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">December 31,<br/>2021</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:57.7%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;text-indent:10pt;color:#000000">Raw materials</p> </td><td style="background-color:#CCEEFF;width:3.76%;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">$</p> </td><td style="background-color:#CCEEFF;width:15.46%;border-top:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;text-indent:22.9pt;color:#000000;text-align:right">857,257</p> </td><td style="background-color:#CCEEFF;width:2.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:3.76%;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">$</p> </td><td style="background-color:#CCEEFF;width:16.76%;border-top:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">846,499</p> </td></tr> <tr><td style="width:57.7%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;text-indent:10pt;color:#000000">Finished goods</p> </td><td style="width:3.76%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:15.46%" valign="top"><p style="font:10pt Times New Roman;margin:0;text-indent:22.9pt;color:#000000;text-align:right">752,717</p> </td><td style="width:2.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:3.76%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:16.76%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">802,280</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:57.7%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;text-indent:10pt;color:#000000">Allowance for obsolete inventory</p> </td><td style="background-color:#CCEEFF;width:3.76%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="background-color:#CCEEFF;width:15.46%;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;text-indent:22.9pt;color:#000000;text-align:right">(931,735)</p> </td><td style="background-color:#CCEEFF;width:2.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:3.76%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="background-color:#CCEEFF;width:16.76%;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">(931,735)</p> </td></tr> <tr><td style="width:57.7%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Total</p> </td><td style="width:3.76%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">$</p> </td><td style="width:15.46%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;text-indent:22.9pt;color:#000000;text-align:right">678,239</p> </td><td style="width:2.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:3.76%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">$</p> </td><td style="width:16.76%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">717,044</p> </td></tr> </table> 857257 846499 752717 802280 931735 931735 678239 717044 0 24901 <p style="font:10pt Times New Roman;margin:0;color:#000000"><span style="border-bottom:1px solid #000000">Property and Equipment</span></p> <p style="font:10pt Times New Roman;margin:0;text-indent:-54pt;margin-left:54pt;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000">Property and equipment at March 31, 2022 and December 31, 2021 consisted of the following:</p> <p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> <table style="margin:0 auto;border-collapse:collapse;width:100%"><tr><td style="width:59.64%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td colspan="2" style="width:19.1%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">March 31,</p> </td><td style="width:2.64%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td colspan="2" style="width:18.62%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">December 31,</p> </td></tr> <tr><td style="width:59.64%" valign="bottom"/><td colspan="2" style="width:19.1%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">2022</p> </td><td style="width:2.64%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td colspan="2" style="width:18.62%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">2021</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:59.64%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Production equipment</p> </td><td style="background-color:#CCEEFF;width:4.54%;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">$</p> </td><td style="background-color:#CCEEFF;width:14.56%;border-top:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">68,456</p> </td><td style="background-color:#CCEEFF;width:2.64%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:4.54%;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">$</p> </td><td style="background-color:#CCEEFF;width:14.08%;border-top:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">68,456</p> </td></tr> <tr><td style="width:59.64%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Leasehold Improvements</p> </td><td style="width:4.54%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:14.56%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">10,627</p> </td><td style="width:2.64%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:4.54%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:14.08%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">10,627</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:59.64%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Less: accumulated depreciation</p> </td><td style="background-color:#CCEEFF;width:4.54%;border-bottom:1pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="background-color:#CCEEFF;width:14.56%;border-bottom:1pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">(65,462)</p> </td><td style="background-color:#CCEEFF;width:2.64%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:4.54%;border-bottom:1pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="background-color:#CCEEFF;width:14.08%;border-bottom:1pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">(64,710)</p> </td></tr> <tr><td style="width:59.64%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Total</p> </td><td style="width:4.54%;border-top:1pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">$</p> </td><td style="width:14.56%;border-top:1pt solid #000000;border-bottom:3px double #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">13,621</p> </td><td style="width:2.64%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:4.54%;border-top:1pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">$</p> </td><td style="width:14.08%;border-top:1pt solid #000000;border-bottom:3px double #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">14,373</p> </td></tr> </table> <p style="font:10pt Times New Roman;margin:0;text-indent:-54pt;margin-left:54pt;color:#000000;text-align:justify"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000">Depreciation expense for the periods ended March 31, 2022 and March 31, 2021 was $752 and $135, respectively.</p> <p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> <table style="margin:0 auto;border-collapse:collapse;width:100%"><tr><td style="width:59.64%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td colspan="2" style="width:19.1%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">March 31,</p> </td><td style="width:2.64%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td colspan="2" style="width:18.62%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">December 31,</p> </td></tr> <tr><td style="width:59.64%" valign="bottom"/><td colspan="2" style="width:19.1%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">2022</p> </td><td style="width:2.64%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td colspan="2" style="width:18.62%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">2021</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:59.64%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Production equipment</p> </td><td style="background-color:#CCEEFF;width:4.54%;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">$</p> </td><td style="background-color:#CCEEFF;width:14.56%;border-top:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">68,456</p> </td><td style="background-color:#CCEEFF;width:2.64%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:4.54%;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">$</p> </td><td style="background-color:#CCEEFF;width:14.08%;border-top:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">68,456</p> </td></tr> <tr><td style="width:59.64%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Leasehold Improvements</p> </td><td style="width:4.54%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:14.56%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">10,627</p> </td><td style="width:2.64%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:4.54%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:14.08%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">10,627</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:59.64%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Less: accumulated depreciation</p> </td><td style="background-color:#CCEEFF;width:4.54%;border-bottom:1pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="background-color:#CCEEFF;width:14.56%;border-bottom:1pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">(65,462)</p> </td><td style="background-color:#CCEEFF;width:2.64%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:4.54%;border-bottom:1pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="background-color:#CCEEFF;width:14.08%;border-bottom:1pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">(64,710)</p> </td></tr> <tr><td style="width:59.64%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Total</p> </td><td style="width:4.54%;border-top:1pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">$</p> </td><td style="width:14.56%;border-top:1pt solid #000000;border-bottom:3px double #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">13,621</p> </td><td style="width:2.64%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:4.54%;border-top:1pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">$</p> </td><td style="width:14.08%;border-top:1pt solid #000000;border-bottom:3px double #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">14,373</p> </td></tr> </table> 68456 68456 10627 10627 65462 64710 13621 14373 752 135 <p style="font:10pt Times New Roman;margin:0;color:#000000"><span style="border-bottom:1px solid #000000">Basic and Diluted Loss per Share </span></p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000">The computation of basic earnings per share of common stock is based on the weighted average number of shares outstanding during the periods presented. The computation of fully diluted earnings per share includes common stock equivalents outstanding at the balance sheet date. The Company had 3,173,889 and 2,998,889 stock options and warrants that would have been included in the fully diluted earnings per share as of March 31, 2022 and March 31, 2021, respectively.  However, the common stock equivalents were not included in the computation of the loss per share computation because they are anti dilutive.  </p> 3173889 2998889 <p style="font:10pt Times New Roman;margin:0;color:#000000"><span style="border-bottom:1px solid #000000">Income Taxes </span></p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000">The Company accounts for income taxes in accordance with Accounting Standards Codification Topic 740, Income Taxes ("Topic 740"), which requires the recognition of deferred tax liabilities and assets at currently enacted tax rates for the expected future tax consequences of events that have been included in the financial statements or tax returns. A valuation allowance is recognized to reduce the net deferred tax asset to an amount that is more likely than not to be realized. </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000">Topic 740 provides guidance on the accounting for uncertainty in income taxes recognized in a company's financial statements. Topic 740 requires a company to determine whether it is more likely than not that a tax position will be sustained upon examination based upon the technical merits of the position. If the more likely-than-not threshold is met, a company must measure the tax position to determine the amount to recognize in the financial statements.</p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000">The Company includes interest and penalties arising from the underpayment of income taxes in the statements of operations in the provision for income taxes. As of March 31, 2022 and December 31, 2021 the Company had no accrued interest or penalties related to uncertain tax positions. The Company files an income tax return in the U.S. federal jurisdiction and the state of California. With few exceptions, the Company is no longer subject to U.S. federal, state, and local, or non-U.S. income tax examinations by tax authorities for years before 2012.</p> <p style="font:12pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"><span style="border-bottom:1px solid #000000">Operating Lease Right-of-Use Assets and Liabilities</span></p> <p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000">Operating lease right-of-use asset represents the Company’s right to use an underlying asset for the lease term and operating lease liability represents its obliation to make lease payments arising from the lease. Operating lease right-of-use assets and liabilities are recognized when the Company takes possession of the leased property (the Commencement Date) based on the present value of lease payments over the lease term. Rent expense on noncancellable leases containing known future scheduled rent increases is recorded on a straight-line basis over the term of the lease beginning on the Commencement Day. </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"><span style="border-bottom:1px solid #000000">Liquidity and Going Concern </span></p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000">Historically, the Company has incurred net losses and negative cash flows from operations.  As of March 31, 2022, the Company had an accumulated deficit of $21,520,740 and total stockholders’ deficit of $877,638.  At March 31, 2022, the Company had current assets of $765,827 including cash of $40,604, and current liabilities of $1,538,730, resulting in negative working capital of $(772,903). For the three months ended March 31, 2022, the Company reported a net loss of $72,508 and net cash used in operating activities of $16,374. Management believes that based on its operating plan, the projected sales for 2022, combined with funds available from its working capital will be sufficient to fund operations for the next twelve months.  However, there can be no assurance that operations and operating cash flows will continue at the current levels or improve in the near future. Whether, and when, the Company can attain profitability and positive cash flows from operations is uncertain. The Company is also uncertain whether it can raise additional capital. These uncertainties cast substantial doubt upon the Company’s ability to continue as a going concern for a period of one year from the issuance of these financial statements. Our financial statements have been prepared on a going concern basis, which assumes the realization of assets and liquidation of liabilities in the normal course of operations. The financial statements do not include any adjustments relating to the recoverability or classification of recorded asset amounts or the amounts or classification of liabilities should we be unable to continue as a going concern.     </p> -21520740 -877638 765827 40604 1538730 -772903 -72508 -16374 <p style="font:10pt Times New Roman;margin:0;color:#000000"><span style="border-bottom:1px solid #000000">Recent Accounting Pronouncements </span></p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000">The Company has evaluated recent accounting pronouncements and their adoption has not had or is not expected to have a material impact on the Company’s financial position, or statements. </p> <p style="font:10pt Times New Roman;margin:0;color:#000000">NOTE 3 – CONTRACT ASSETS AND LIABILITIES</p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000">The timing of revenue recognition, billings and cash collections results in billed accounts receivable and costs and estimated earnings in excess of billings on uncompleted contracts (contract assets) on the balance sheet. For Omnitek’s long-term contracts, amounts are generally billed as work progresses in accordance with agreed-upon contractual terms, either at periodic intervals or upon achievement of contractual milestones. Generally, billing occurs subsequent to revenue recognition, resulting in contract assets. However, Omnitek sometimes receives advances or deposits from its customers, before revenue is recognized, resulting in billings in excess of costs and estimated earnings on uncompleted contracts (contract liabilities). </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000">The table below reconciles the net excess billings to the amounts included in the balance sheets at those dates:</p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <table style="margin:0 auto;border-collapse:collapse;width:100%"><tr><td style="width:61.7%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> </td><td colspan="2" style="width:18.1%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">March 31,</p> </td><td style="width:3.02%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td colspan="2" style="width:17.18%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">December 31,</p> </td></tr> <tr><td style="width:61.7%" valign="bottom"/><td colspan="2" style="width:18.1%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">2022</p> </td><td style="width:3.02%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td colspan="2" style="width:17.18%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">2021</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:61.7%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Contract assets</p> </td><td style="background-color:#CCEEFF;width:4.02%;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">$</p> </td><td style="background-color:#CCEEFF;width:14.08%;border-top:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">13,221</p> </td><td style="background-color:#CCEEFF;width:3.02%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> </td><td style="background-color:#CCEEFF;width:4.2%;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">$</p> </td><td style="background-color:#CCEEFF;width:12.98%;border-top:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">13,221</p> </td></tr> <tr><td style="width:61.7%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Contract liabilities</p> </td><td style="width:4.02%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">$</p> </td><td style="width:14.08%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">(75,000)</p> </td><td style="width:3.02%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> </td><td style="width:4.2%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">$</p> </td><td style="width:12.98%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">(75,000)</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:61.7%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;margin-left:9pt;color:#000000">Net amount of contract liabilities in excess of Contract assets</p> </td><td style="background-color:#CCEEFF;width:4.02%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">$</p> </td><td style="background-color:#CCEEFF;width:14.08%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">(61,779)</p> </td><td style="background-color:#CCEEFF;width:3.02%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> </td><td style="background-color:#CCEEFF;width:4.2%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">$</p> </td><td style="background-color:#CCEEFF;width:12.98%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">(61,779)</p> </td></tr> </table> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <table style="margin:0 auto;border-collapse:collapse;width:100%"><tr><td style="width:61.7%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> </td><td colspan="2" style="width:18.1%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">March 31,</p> </td><td style="width:3.02%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td colspan="2" style="width:17.18%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">December 31,</p> </td></tr> <tr><td style="width:61.7%" valign="bottom"/><td colspan="2" style="width:18.1%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">2022</p> </td><td style="width:3.02%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td colspan="2" style="width:17.18%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">2021</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:61.7%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Contract assets</p> </td><td style="background-color:#CCEEFF;width:4.02%;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">$</p> </td><td style="background-color:#CCEEFF;width:14.08%;border-top:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">13,221</p> </td><td style="background-color:#CCEEFF;width:3.02%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> </td><td style="background-color:#CCEEFF;width:4.2%;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">$</p> </td><td style="background-color:#CCEEFF;width:12.98%;border-top:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">13,221</p> </td></tr> <tr><td style="width:61.7%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Contract liabilities</p> </td><td style="width:4.02%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">$</p> </td><td style="width:14.08%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">(75,000)</p> </td><td style="width:3.02%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> </td><td style="width:4.2%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">$</p> </td><td style="width:12.98%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">(75,000)</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:61.7%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;margin-left:9pt;color:#000000">Net amount of contract liabilities in excess of Contract assets</p> </td><td style="background-color:#CCEEFF;width:4.02%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">$</p> </td><td style="background-color:#CCEEFF;width:14.08%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">(61,779)</p> </td><td style="background-color:#CCEEFF;width:3.02%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> </td><td style="background-color:#CCEEFF;width:4.2%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">$</p> </td><td style="background-color:#CCEEFF;width:12.98%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">(61,779)</p> </td></tr> </table> 13221 13221 -75000 -75000 -61779 -61779 <p style="font:10pt Times New Roman;margin:0;color:#000000">NOTE 4 – LEASES</p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000">The Company’s leases consist of an operating lease for general office space and warehouse facilities. The Company recognizes rent expense for this lease on a straight-line basis over the lease term. Because the lease does not provide an implicit interest rate, the Company uses its incremental borrowing rate based on the information available at the lease Commencement Date in determining the present value of future lease payments. </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000">On June 3, 2021, the Company entered into a lease for the premises located at 1345 Specialty Drive, Vista, CA, containing approximately 11,751 square feet of rentable area. The lease commenced on July 1, 2021 and expires on June 30, 2026. The monthly base rent under the lease is $9,988 per month and monthly operating expenses during the term of the lease, subject to adjustment under the lease, is $1,175 per month.  </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000">In agreement with the Company’s former landlord, the Company vacated the previous leasehold effective July 15, 2021. As of March 31, 2022 the outstanding balance of back rent, included in accounts payable, was $23,374. </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000">During the quarter ended March 31, 2022, cash paid for amounts included in the measurement of operating lease liabilities was $33,489 and the Company recorded operating lease expenses included in operating expenses of $37,290.</p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000">Future minimum payments for monthly base rent due under the initial lease term are currently estimated to be as follows:</p> <p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> <table style="border-collapse:collapse;width:100%"><tr><td style="width:83.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><b>Years ending December 31,</b></p> </td><td colspan="2" style="width:16.44%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td></tr> <tr><td style="background-color:#CCEEFF;width:83.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">2022 (remaining)</p> </td><td style="background-color:#CCEEFF;width:3.26%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">$</p> </td><td style="background-color:#CCEEFF;width:13.18%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">100,467</p> </td></tr> <tr><td style="width:83.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">2023</p> </td><td style="width:3.26%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:13.18%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">141,036</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:83.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">2024</p> </td><td style="background-color:#CCEEFF;width:3.26%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:13.18%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">148,074</p> </td></tr> <tr><td style="width:83.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">2025</p> </td><td style="width:3.26%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:13.18%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">176,268</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:83.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">2026</p> </td><td style="background-color:#CCEEFF;width:3.26%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:13.18%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">88,134</p> </td></tr> <tr><td style="width:83.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Total lease payments</p> </td><td style="width:3.26%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">$</p> </td><td style="width:13.18%;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">653,979</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:83.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Less: Imputed interest</p> </td><td style="background-color:#CCEEFF;width:3.26%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:13.18%;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">(68,915)</p> </td></tr> <tr><td style="width:83.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Total lease liability</p> </td><td style="width:3.26%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:13.18%;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">585,064</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:83.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Less: current lease liability</p> </td><td style="background-color:#CCEEFF;width:3.26%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:13.18%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">(109,242)</p> </td></tr> <tr><td style="width:83.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Long-term lease liability</p> </td><td style="width:3.26%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">$</p> </td><td style="width:13.18%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">475,822</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:83.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="background-color:#CCEEFF;width:3.26%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:13.18%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td></tr> <tr><td style="width:83.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Weighted average discount rate:</p> </td><td style="width:3.26%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:13.18%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td></tr> <tr><td style="background-color:#CCEEFF;width:83.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Operating leases</p> </td><td style="background-color:#CCEEFF;width:3.26%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:13.18%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">4.94%</p> </td></tr> </table> 23374 <p style="font:10pt Times New Roman;margin:0;color:#000000">Future minimum payments for monthly base rent due under the initial lease term are currently estimated to be as follows:</p> <p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> <table style="border-collapse:collapse;width:100%"><tr><td style="width:83.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"><b>Years ending December 31,</b></p> </td><td colspan="2" style="width:16.44%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td></tr> <tr><td style="background-color:#CCEEFF;width:83.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">2022 (remaining)</p> </td><td style="background-color:#CCEEFF;width:3.26%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">$</p> </td><td style="background-color:#CCEEFF;width:13.18%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">100,467</p> </td></tr> <tr><td style="width:83.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">2023</p> </td><td style="width:3.26%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:13.18%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">141,036</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:83.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">2024</p> </td><td style="background-color:#CCEEFF;width:3.26%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:13.18%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">148,074</p> </td></tr> <tr><td style="width:83.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">2025</p> </td><td style="width:3.26%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:13.18%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">176,268</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:83.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">2026</p> </td><td style="background-color:#CCEEFF;width:3.26%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:13.18%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">88,134</p> </td></tr> <tr><td style="width:83.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Total lease payments</p> </td><td style="width:3.26%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">$</p> </td><td style="width:13.18%;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">653,979</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:83.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Less: Imputed interest</p> </td><td style="background-color:#CCEEFF;width:3.26%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:13.18%;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">(68,915)</p> </td></tr> <tr><td style="width:83.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Total lease liability</p> </td><td style="width:3.26%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:13.18%;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">585,064</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:83.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Less: current lease liability</p> </td><td style="background-color:#CCEEFF;width:3.26%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:13.18%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">(109,242)</p> </td></tr> <tr><td style="width:83.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Long-term lease liability</p> </td><td style="width:3.26%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">$</p> </td><td style="width:13.18%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">475,822</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:83.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="background-color:#CCEEFF;width:3.26%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:13.18%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td></tr> <tr><td style="width:83.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Weighted average discount rate:</p> </td><td style="width:3.26%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:13.18%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td></tr> <tr><td style="background-color:#CCEEFF;width:83.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Operating leases</p> </td><td style="background-color:#CCEEFF;width:3.26%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:13.18%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">4.94%</p> </td></tr> </table> 100467 141036 148074 176268 88134 653979 -68915 585064 109242 475822 0.0494 <p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify">NOTE 5 - RELATED PARTY TRANSACTIONS</p> <p style="font:10pt Times New Roman;margin:0;text-indent:-54pt;margin-left:54pt;color:#000000;text-align:justify"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"><span style="border-bottom:1px solid #000000">Accounts Payable – Related Parties</span></p> <p style="font:10pt Times New Roman;margin:0;color:#000000"><span style="-sec-ix-redline:true">The Company regularly incurs expenses that are paid to related parties and purchases goods and services from related parties. As of March 31, 2022 and December 31, 2021, the Company owed a board member’s company for such services in the amounts of $123,320 and $124,472, respectively.</span></p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"><span style="border-bottom:1px solid #000000">Accrued Management Compensation </span></p> <p style="font:10pt Times New Roman;margin:0;color:#000000;background-color:#FFFFFF">For the periods ended March 31, 2022 and December 31, 2021, the Company’s president was due amounts for services performed for the Company.</p> <p style="font:10pt Times New Roman;margin:0;color:#000000;background-color:#FFFFFF"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000;background-color:#FFFFFF">As of March 31, 2022 and December 31, 2021 the accrued management fees consisted of the following:</p> <p style="font:10pt Times New Roman;margin:0;color:#000000;background-color:#FFFFFF;text-align:justify"> </p> <table style="margin:0 auto;border-collapse:collapse;width:100%"><tr><td style="width:66.08%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td colspan="3" style="width:15.32%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">March 31,</p> </td><td style="width:2.06%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td colspan="3" style="width:16.54%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">December 31,</p> </td></tr> <tr><td style="width:66.08%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td colspan="3" style="width:15.32%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">2022</p> </td><td style="width:2.06%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td colspan="3" style="width:16.54%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">2021</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:66.08%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Amounts due to the president</p> </td><td style="background-color:#CCEEFF;width:1.32%;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:1.36%;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">$</p> </td><td style="background-color:#CCEEFF;width:12.64%;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">628,812</p> </td><td style="background-color:#CCEEFF;width:2.06%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="background-color:#CCEEFF;width:1.06%;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:2.04%;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">$</p> </td><td style="background-color:#CCEEFF;width:13.44%;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">620,735</p> </td></tr> <tr><td style="width:66.08%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Total</p> </td><td style="width:1.32%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:1.36%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">$</p> </td><td style="width:12.64%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">628,812</p> </td><td style="width:2.06%;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:1.06%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:2.04%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">$</p> </td><td style="width:13.44%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">620,735</p> </td></tr> </table> 123320 124472 <p style="font:10pt Times New Roman;margin:0;color:#000000;background-color:#FFFFFF;text-align:justify"> </p> <table style="margin:0 auto;border-collapse:collapse;width:100%"><tr><td style="width:66.08%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td colspan="3" style="width:15.32%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">March 31,</p> </td><td style="width:2.06%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td colspan="3" style="width:16.54%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">December 31,</p> </td></tr> <tr><td style="width:66.08%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td colspan="3" style="width:15.32%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">2022</p> </td><td style="width:2.06%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td colspan="3" style="width:16.54%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">2021</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:66.08%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Amounts due to the president</p> </td><td style="background-color:#CCEEFF;width:1.32%;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:1.36%;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">$</p> </td><td style="background-color:#CCEEFF;width:12.64%;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">628,812</p> </td><td style="background-color:#CCEEFF;width:2.06%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="background-color:#CCEEFF;width:1.06%;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:2.04%;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">$</p> </td><td style="background-color:#CCEEFF;width:13.44%;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">620,735</p> </td></tr> <tr><td style="width:66.08%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Total</p> </td><td style="width:1.32%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:1.36%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">$</p> </td><td style="width:12.64%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">628,812</p> </td><td style="width:2.06%;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:1.06%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:2.04%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">$</p> </td><td style="width:13.44%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">620,735</p> </td></tr> </table> 628812 620735 628812 620735 <p style="font:10pt Times New Roman;margin:0;color:#000000">NOTE 6 – NOTES PAYABLE - RELATED PARTY</p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin-top:5pt;margin-bottom:5pt;color:#000000;text-align:justify"><span style="border-bottom:1px solid #000000">Convertible Notes – Related Parties</span></p> <p style="font:10pt Times New Roman;margin-top:5pt;margin-bottom:5pt;color:#000000;text-align:justify"> </p> <p style="font:10pt Times New Roman;margin-top:5pt;margin-bottom:5pt;color:#000000">On June 4, 2021 the Company issued a convertible promissory note for $30,000 to its CEO. The note has an annual interest rate of 8% and is unsecured. The note calls for monthly installment payments of $1,050 commencing on July 4, 2021. The unpaid principal amount of the note and all unpaid accrued interest is due and payable on or before June 4, 2023. The note has a conversion feature, wherein, at the maturity date the lender may convert the remaining principal balance and any unpaid accrued interest into shares of the Company’s common stock. The number of shares of common stock to be issued upon such conversion shall be equal to the quotient obtained by dividing (i) the remaining unpaid principal balance and any unpaid accrued interest of this note by (ii) 90% of the average closing price of the common stock of the Company, for the five (5) trading days (between days 15 and 10 days) before the maturity date. Due to this provision, the Company considered whether the embedded conversion option qualifies for derivative accounting under ASC 815-15 “Derivatives and Hedging.” As the note isn’t convertible until maturity, no derivative liability was recognized as of March 31, 2022.</p> <p style="font:10pt Times New Roman;margin-top:5pt;margin-bottom:5pt;color:#000000"> </p> <p style="font:10pt Times New Roman;margin-top:5pt;margin-bottom:5pt;color:#000000">On June 4, 2021 the Company issued a convertible promissory note for $20,000 to a board member. The note has an annual interest rate of 8% and is unsecured. The principal amount of the note and all accrued interest is due and payable on or before December 4, 2021. The note has a conversion feature, wherein, at the maturity date the lender may convert the remaining principal balance and any unpaid accrued interest into shares of the Company’s common stock. The number of shares of common stock to be issued upon such conversion shall be equal to the quotient obtained by dividing (i) the remaining unpaid principal balance and any unpaid accrued interest of this note by (ii) 90% of the average closing price of the common stock of the Company, for the five (5) trading days (between days 15 and 10 days) before the maturity date. Due to this provision, the Company considered whether the embedded conversion option qualifies for derivative accounting under ASC 815-15 “Derivatives and Hedging.” As the note isn’t convertible until maturity, no derivative liability was recognized as of March 31, 2022. On December 14, 2021, the Convertible Promissory Note dated June 4, 2021, in the original principal amount of $20,000, with an original Maturity Date of December 4, 2021, was extended for an additional period of 3 months until March 4, 2022. On March 4, 2022, the Note was extended for an additional period of 3 months until June 4, 2022.</p> <p style="font:10pt Times New Roman;margin-top:5pt;margin-bottom:5pt;color:#000000"> </p> <p style="font:10pt Times New Roman;margin-top:5pt;margin-bottom:5pt;color:#000000">As of March 31, 2022 and December 31, 2021 Convertible Notes – Related Party consisted of the following:</p> <p style="font:10pt Times New Roman;margin-top:5pt;margin-bottom:5pt;color:#000000;text-align:justify"> </p> <table style="margin:0 auto;border-collapse:collapse;width:100%"><tr><td style="width:53.06%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> </td><td colspan="2" style="width:20.26%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">March 31,</p> </td><td style="width:3.5%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> </td><td colspan="2" style="width:23.2%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">December 31,</p> </td></tr> <tr><td style="width:53.06%" valign="top"/><td colspan="2" style="width:20.26%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">2022</p> </td><td style="width:3.5%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> </td><td colspan="2" style="width:23.2%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">2021</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:53.06%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify">Convertible Note payable, related parties</p> </td><td style="background-color:#CCEEFF;width:4.18%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify">$</p> </td><td style="background-color:#CCEEFF;width:16.08%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">41,220</p> </td><td style="background-color:#CCEEFF;width:3.5%" valign="top"><p style="font:10pt Times New Roman;margin:0;margin-left:-4.9pt;color:#000000;text-align:justify"> </p> </td><td style="background-color:#CCEEFF;width:4.64%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify">$</p> </td><td style="background-color:#CCEEFF;width:18.56%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">43,916</p> </td></tr> <tr><td style="width:53.06%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify">Less current portion</p> </td><td style="width:4.18%;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> </td><td style="width:16.08%;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">(20,000)</p> </td><td style="width:3.5%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> </td><td style="width:4.64%;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify">$</p> </td><td style="width:18.56%;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">(31,090)</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:53.06%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"><span style="border-bottom:1px solid #000000">Total</span></p> </td><td style="background-color:#CCEEFF;width:4.18%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify">$</p> </td><td style="background-color:#CCEEFF;width:16.08%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">21,220</p> </td><td style="background-color:#CCEEFF;width:3.5%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> </td><td style="background-color:#CCEEFF;width:4.64%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify">$</p> </td><td style="background-color:#CCEEFF;width:18.56%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">12,826</p> </td></tr> </table> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin-top:5pt;margin-bottom:5pt;color:#000000;text-align:justify"><span style="border-bottom:1px solid #000000">Notes Payable – Related Party</span></p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000">On January 19, 2017 the Company issued a promissory note for $15,000 to a related party. The note has an annual interest rate of 5% and is unsecured. The principal amount of the note and all accrued interest is due and payable on or before January 19, 2023. </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000">As of March 31, 2022, and December 31, 2021 Note Payable – Related Party consisted of the following:</p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <table style="margin:0 auto;border-collapse:collapse;width:100%"><tr><td style="width:64.78%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> </td><td colspan="3" style="width:16.02%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">March 31,</p> </td><td style="width:2.04%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td colspan="3" style="width:17.16%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">December 31,</p> </td></tr> <tr><td style="width:64.78%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> </td><td colspan="3" style="width:16.02%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">2022</p> </td><td style="width:2.04%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td colspan="3" style="width:17.16%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">2021</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:64.78%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify">Note payable, related party, current portion </p> </td><td style="background-color:#CCEEFF;width:2.16%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> </td><td style="background-color:#CCEEFF;width:1.58%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify">$</p> </td><td style="background-color:#CCEEFF;width:12.28%;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">15,000</p> </td><td style="background-color:#CCEEFF;width:2.04%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> </td><td style="background-color:#CCEEFF;width:3.8%;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> </td><td style="background-color:#CCEEFF;width:1.32%;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify">$</p> </td><td style="background-color:#CCEEFF;width:12.04%;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">15,000</p> </td></tr> <tr><td style="width:64.78%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify">Total</p> </td><td style="width:2.16%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> </td><td style="width:1.58%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify">$</p> </td><td style="width:12.28%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">15,000</p> </td><td style="width:2.04%;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> </td><td style="width:3.8%;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> </td><td style="width:1.32%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify">$</p> </td><td style="width:12.04%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">15,000</p> </td></tr> </table> 30000 0.08 20000 0.08 <p style="font:10pt Times New Roman;margin-top:5pt;margin-bottom:5pt;color:#000000">As of March 31, 2022 and December 31, 2021 Convertible Notes – Related Party consisted of the following:</p> <p style="font:10pt Times New Roman;margin-top:5pt;margin-bottom:5pt;color:#000000;text-align:justify"> </p> <table style="margin:0 auto;border-collapse:collapse;width:100%"><tr><td style="width:53.06%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> </td><td colspan="2" style="width:20.26%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">March 31,</p> </td><td style="width:3.5%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> </td><td colspan="2" style="width:23.2%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">December 31,</p> </td></tr> <tr><td style="width:53.06%" valign="top"/><td colspan="2" style="width:20.26%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">2022</p> </td><td style="width:3.5%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> </td><td colspan="2" style="width:23.2%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">2021</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:53.06%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify">Convertible Note payable, related parties</p> </td><td style="background-color:#CCEEFF;width:4.18%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify">$</p> </td><td style="background-color:#CCEEFF;width:16.08%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">41,220</p> </td><td style="background-color:#CCEEFF;width:3.5%" valign="top"><p style="font:10pt Times New Roman;margin:0;margin-left:-4.9pt;color:#000000;text-align:justify"> </p> </td><td style="background-color:#CCEEFF;width:4.64%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify">$</p> </td><td style="background-color:#CCEEFF;width:18.56%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">43,916</p> </td></tr> <tr><td style="width:53.06%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify">Less current portion</p> </td><td style="width:4.18%;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> </td><td style="width:16.08%;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">(20,000)</p> </td><td style="width:3.5%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> </td><td style="width:4.64%;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify">$</p> </td><td style="width:18.56%;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">(31,090)</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:53.06%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"><span style="border-bottom:1px solid #000000">Total</span></p> </td><td style="background-color:#CCEEFF;width:4.18%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify">$</p> </td><td style="background-color:#CCEEFF;width:16.08%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">21,220</p> </td><td style="background-color:#CCEEFF;width:3.5%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> </td><td style="background-color:#CCEEFF;width:4.64%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify">$</p> </td><td style="background-color:#CCEEFF;width:18.56%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">12,826</p> </td></tr> </table> 41220 43916 20000 31090 21220 12826 15000 0.05 <p style="font:10pt Times New Roman;margin:0;color:#000000">As of March 31, 2022, and December 31, 2021 Note Payable – Related Party consisted of the following:</p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <table style="margin:0 auto;border-collapse:collapse;width:100%"><tr><td style="width:64.78%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> </td><td colspan="3" style="width:16.02%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">March 31,</p> </td><td style="width:2.04%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td colspan="3" style="width:17.16%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">December 31,</p> </td></tr> <tr><td style="width:64.78%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> </td><td colspan="3" style="width:16.02%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">2022</p> </td><td style="width:2.04%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td colspan="3" style="width:17.16%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">2021</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:64.78%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify">Note payable, related party, current portion </p> </td><td style="background-color:#CCEEFF;width:2.16%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> </td><td style="background-color:#CCEEFF;width:1.58%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify">$</p> </td><td style="background-color:#CCEEFF;width:12.28%;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">15,000</p> </td><td style="background-color:#CCEEFF;width:2.04%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> </td><td style="background-color:#CCEEFF;width:3.8%;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> </td><td style="background-color:#CCEEFF;width:1.32%;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify">$</p> </td><td style="background-color:#CCEEFF;width:12.04%;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">15,000</p> </td></tr> <tr><td style="width:64.78%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify">Total</p> </td><td style="width:2.16%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> </td><td style="width:1.58%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify">$</p> </td><td style="width:12.28%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">15,000</p> </td><td style="width:2.04%;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> </td><td style="width:3.8%;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> </td><td style="width:1.32%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify">$</p> </td><td style="width:12.04%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">15,000</p> </td></tr> </table> 15000 15000 15000 15000 <p style="font:10pt Times New Roman;margin:0;color:#000000">NOTE 7 – DEBT</p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"><span style="border-bottom:1px solid #000000">Loans payable – SBA</span></p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"><span style="border-bottom:1px solid #000000">Economic Injury Disaster Loan</span></p> <p style="font:10pt Times New Roman;margin-top:5pt;margin-bottom:5pt;color:#000000">On April 21, 2020, the Company obtained a loan (the “SBA EIDL Loan”) under the recently enacted Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) adminitstered by the U.S. Small Business Administration. The Company received total proceeds of $199,000 from the SBA EIDL loan. The SBA EIDL Loan is evidenced by a Loan Authorization and Agreement, a Secured Promissory Note (the “Note” and Security Agreement. Interest on the unpaid principal balance of the Note shall accrue at the rate of three and 75/100 percent (3.75%) per annum. Pursuant to the terms of the Note, commencing May 21, 2022 (i.e., twenty-four (24) months from the Note date), the Company shall make principal and interest payments in the amount of $970 every month, with any unpaid principal and accrued interest due and payable on April 21, 2050. The obligations under the Loan Authorization and Agreement, and the Note shall be secured pursuant to the Security Agreement and a first position lien and security interest in the Collateral (as defined in the Security Agreement). The collateral in which the security interest is granted includes all tangible and intangible personal property, including, but not limited to: (a) inventory, and (b) equipment.</p> <p style="font:10pt Times New Roman;margin-top:5pt;margin-bottom:5pt;color:#000000">As of March 31, 2022 and December 31, 2021 Debt consisted of the following:</p> <p style="font:10pt Times New Roman;margin-top:5pt;margin-bottom:5pt;color:#000000"> </p> <table style="margin:0 auto;border-collapse:collapse;width:100%"><tr><td style="width:58.08%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> </td><td colspan="2" style="width:18.78%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">March 31,</p> </td><td style="width:4.48%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> </td><td colspan="2" style="width:18.66%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">December 31,</p> </td></tr> <tr><td style="width:58.08%" valign="top"/><td colspan="2" style="width:18.78%;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">2022</p> </td><td style="width:4.48%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> </td><td colspan="2" style="width:18.66%;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">2021</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:58.08%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000">Loan payable – SBA EIDL</p> </td><td style="background-color:#CCEEFF;width:4.2%;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">$</p> </td><td style="background-color:#CCEEFF;width:14.58%;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">198,674</p> </td><td style="background-color:#CCEEFF;width:4.48%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:6.62%;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">$</p> </td><td style="background-color:#CCEEFF;width:12.04%;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">198,674</p> </td></tr> <tr><td style="width:58.08%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000">Less current portion</p> </td><td style="width:4.2%;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:14.58%;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">-</p> </td><td style="width:4.48%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:6.62%;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:12.04%;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">-</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:58.08%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000">Total</p> </td><td style="background-color:#CCEEFF;width:4.2%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">$</p> </td><td style="background-color:#CCEEFF;width:14.58%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">198,674</p> </td><td style="background-color:#CCEEFF;width:4.48%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:6.62%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">$</p> </td><td style="background-color:#CCEEFF;width:12.04%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">198,674</p> </td></tr> </table> 199000 0.0375 970 2050-04-21 <p style="font:10pt Times New Roman;margin-top:5pt;margin-bottom:5pt;color:#000000">As of March 31, 2022 and December 31, 2021 Debt consisted of the following:</p> <p style="font:10pt Times New Roman;margin-top:5pt;margin-bottom:5pt;color:#000000"> </p> <table style="margin:0 auto;border-collapse:collapse;width:100%"><tr><td style="width:58.08%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> </td><td colspan="2" style="width:18.78%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">March 31,</p> </td><td style="width:4.48%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> </td><td colspan="2" style="width:18.66%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">December 31,</p> </td></tr> <tr><td style="width:58.08%" valign="top"/><td colspan="2" style="width:18.78%;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">2022</p> </td><td style="width:4.48%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> </td><td colspan="2" style="width:18.66%;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">2021</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:58.08%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000">Loan payable – SBA EIDL</p> </td><td style="background-color:#CCEEFF;width:4.2%;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">$</p> </td><td style="background-color:#CCEEFF;width:14.58%;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">198,674</p> </td><td style="background-color:#CCEEFF;width:4.48%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:6.62%;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">$</p> </td><td style="background-color:#CCEEFF;width:12.04%;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">198,674</p> </td></tr> <tr><td style="width:58.08%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000">Less current portion</p> </td><td style="width:4.2%;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:14.58%;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">-</p> </td><td style="width:4.48%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:6.62%;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:12.04%;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">-</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:58.08%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000">Total</p> </td><td style="background-color:#CCEEFF;width:4.2%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">$</p> </td><td style="background-color:#CCEEFF;width:14.58%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">198,674</p> </td><td style="background-color:#CCEEFF;width:4.48%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:6.62%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">$</p> </td><td style="background-color:#CCEEFF;width:12.04%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">198,674</p> </td></tr> </table> 198674 198674 0 0 198674 198674 <p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify">NOTE 8 -  STOCK OPTIONS AND WARRANTS</p> <p style="font:10pt Times New Roman;margin:0;margin-left:-22.5pt;color:#000000;text-align:justify"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000">During the three months ended March 31, 2022 and 2021, the Company granted -0- and 400,000 options for services, respectively. During the three months ended March 31, 2022 and 2021, the Company recognized expense of $2,562 and $11,283, respectively, for options that vested during the periods pursuant to ASC Topic 718. As of March 31, 2022 total remaining amount of compensation expense to be recognized in future periods is </p> <p style="font:10pt Times New Roman;margin:0;color:#000000">$20,182.</p> <p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000">On August 3, 2011 the Board of Directors adopted the Omnitek Engineering Corp. 2011 Long-term Incentive Plan (the “2011 Plan”), under which 1,000,000 shares of Company’s Common Stock were reserved for issuance of both Incentive Stock Options to employees only and Non-Qualified Stock Options to employees and consultants at its discretion. As of March 31, 2022 the Company has a total of 75,000 options issued under the 2011 Plan. On September 11, 2015 the Board of Directors adopted the Omnitek Engineering Corp. 2015 Long Term Incentive Plan (the “2015 Plan”), under which 2,500,000 shares of the Company’s Common Stock were reserved for issuance of both Incentive Stock Options to employees only and Non-Qualified Stock Options to employees and consultants at its discretion. As of March 31, 2022 the Company has a total of 1,915,556 options issued under the 2015 Plan.  In October 2017, the Company’s shareholders approved its 2017 Long-Term Incentive Plan (the “2017 Plan”). Under the 2017 plan, the Company may issue up to 5,000,000 shares of both Incentive Stock Options to employees only and Non-Qualified Stock Options to employees and consultants at its discretion.  As of March 31, 2022, the Company has a total of 1,300,000 options issued under the 2017 Plan.  During the three months ended March 31, 2022 and 2021 the Company issued  -0- and -0- warrants, respectively.</p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000">The Company recognizes compensation expense for stock-based awards expected to vest on a straight-line basis over the requisite service period of the award based on their grant date fair value.  The Company estimates the fair value of stock options using a Black-Scholes option pricing model which requires management to make estimates for certain assumptions regarding risk-free interest rate, expected life of options, expected volatility of stock and expected dividend yield of stock. When determining expected volatility, the Company considers the historical performance of the Company’s stock, as well as implied volatility. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant, based on the options’ expected term. The expected term of the options is based on the Company’s evaluation of option holders’ exercise patterns and represents the period of time </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify">NOTE 8 -  STOCK OPTIONS AND WARRANTS (Continued)</p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000">that options are expected to remain unexercised. The Company uses historical data to estimate the timing and amount of forfeitures. </p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify">The following table presents the assumptions used to estimate the fair values of the stock options granted:</p> <p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> <table style="margin:0 auto;border-collapse:collapse;width:100%"><tr><td style="width:43.96%" valign="top"/><td style="width:23.7%;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">March 31, 2022</p> </td><td style="width:4.8%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:27.54%;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">March 31, 2021</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:43.96%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify">Expected volatility</p> </td><td style="background-color:#CCEEFF;width:23.7%;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">N/A</p> </td><td style="background-color:#CCEEFF;width:4.8%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:27.54%;border-top:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">201 %</p> </td></tr> <tr><td style="width:43.96%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify">Expected dividends</p> </td><td style="width:23.7%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">N/A</p> </td><td style="width:4.8%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:27.54%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">0 %</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:43.96%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify">Expected term</p> </td><td style="background-color:#CCEEFF;width:23.7%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">N/A</p> </td><td style="background-color:#CCEEFF;width:4.8%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:27.54%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">7 Years   </p> </td></tr> <tr><td style="width:43.96%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify">Risk-free interest rate</p> </td><td style="width:23.7%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">N/A</p> </td><td style="width:4.8%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:27.54%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">1.2 %</p> </td></tr> </table> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000">A summary of the status of the options and warrants granted at March 31, 2022 and December 31, 2021 and changes during the periods then ended is presented below:  </p> <p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> <table style="border-collapse:collapse;width:100%"><tr><td style="width:25.5%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td colspan="4" style="width:36.28%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">March 31,</p> </td><td style="width:3.7%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td colspan="4" style="width:34.52%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">December 31,</p> </td></tr> <tr><td style="width:25.5%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td colspan="4" style="width:36.28%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">2022</p> </td><td style="width:3.7%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td colspan="4" style="width:34.52%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">2021</p> </td></tr> <tr><td style="width:25.5%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:15.68%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:2.42%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:3.96%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:14.22%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">Weighted-Average</p> </td><td style="width:3.7%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:13.94%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:2.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:4.14%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:13.88%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">Weighted-Average</p> </td></tr> <tr><td style="width:25.5%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:15.68%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">Shares</p> </td><td style="width:2.42%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:3.96%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:14.22%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">Exercise Price</p> </td><td style="width:3.7%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:13.94%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">Shares</p> </td><td style="width:2.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:4.14%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:13.88%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">Exercise Price</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:25.5%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Outstanding at beginning of year</p> </td><td style="background-color:#CCEEFF;width:15.68%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">3,290,556</p> </td><td style="background-color:#CCEEFF;width:2.42%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:3.96%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">$</p> </td><td style="background-color:#CCEEFF;width:14.22%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">0.19</p> </td><td style="background-color:#CCEEFF;width:3.7%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:13.94%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">2,890,556</p> </td><td style="background-color:#CCEEFF;width:2.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:4.14%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">$</p> </td><td style="background-color:#CCEEFF;width:13.88%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">0.20</p> </td></tr> <tr><td style="width:25.5%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Granted</p> </td><td style="width:15.68%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">-</p> </td><td style="width:2.42%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:3.96%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:14.22%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">-</p> </td><td style="width:3.7%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:13.94%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">400,000</p> </td><td style="width:2.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:4.14%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:13.88%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">0.11</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:25.5%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Exercised</p> </td><td style="background-color:#CCEEFF;width:15.68%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">-</p> </td><td style="background-color:#CCEEFF;width:2.42%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:3.96%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:14.22%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">-</p> </td><td style="background-color:#CCEEFF;width:3.7%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:13.94%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">-</p> </td><td style="background-color:#CCEEFF;width:2.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:4.14%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:13.88%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">-</p> </td></tr> <tr><td style="width:25.5%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Expired or cancelled</p> </td><td style="width:15.68%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">-</p> </td><td style="width:2.42%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:3.96%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:14.22%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">-</p> </td><td style="width:3.7%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:13.94%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">-</p> </td><td style="width:2.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:4.14%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:13.88%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">-</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:25.5%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Outstanding at end of period</p> </td><td style="background-color:#CCEEFF;width:15.68%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">3,290,556</p> </td><td style="background-color:#CCEEFF;width:2.42%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:3.96%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:14.22%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">0.19</p> </td><td style="background-color:#CCEEFF;width:3.7%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:13.94%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">3,290,556</p> </td><td style="background-color:#CCEEFF;width:2.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:4.14%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:13.88%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">0.19</p> </td></tr> <tr><td style="width:25.5%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Exercisable </p> </td><td style="width:15.68%;border-top:3px double #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">3,173,889</p> </td><td style="width:2.42%" valign="middle"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:3.96%;border-top:3px double #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:14.22%;border-top:3px double #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">0.19</p> </td><td style="width:3.7%" valign="middle"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:13.94%;border-top:3px double #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">3,065,556</p> </td><td style="width:2.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:4.14%;border-top:3px double #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> $ </p> </td><td style="width:13.88%;border-top:3px double #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">0.19</p> </td></tr> </table> <p style="font:10pt Times New Roman;margin:0;margin-left:48.45pt;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000">A summary of the status of the options and warrants outstanding at March 31, 2022 is presented below:</p> <p style="font:10pt Times New Roman;margin:0;margin-left:48.45pt;color:#000000"> </p> <table style="border-collapse:collapse;width:100%"><tr><td style="width:22.04%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">Range of Exercise Prices</p> </td><td style="width:2.8%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:17.82%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">Number Outstanding</p> </td><td style="width:3.14%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:15.4%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">Weighted-Average Remaining Contractual Life</p> </td><td style="width:3.14%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:2.78%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:13.08%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">Number Exercisable</p> </td><td style="width:6.2%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:13.6%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">Weighted-Average Exercise Price</p> </td></tr> <tr><td style="width:22.04%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:2.8%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:17.82%;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:3.14%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:15.4%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:3.14%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:2.78%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:13.08%;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:6.2%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:13.6%;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td></tr> <tr><td style="background-color:#CCEEFF;width:22.04%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">$0.01-0.99</p> </td><td style="background-color:#CCEEFF;width:2.8%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:17.82%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">3,290,556</p> </td><td style="background-color:#CCEEFF;width:3.14%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:15.4%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">2.71 years</p> </td><td style="background-color:#CCEEFF;width:3.14%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:2.78%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:13.08%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">3,173,889</p> </td><td style="background-color:#CCEEFF;width:6.2%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:13.6%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">0.19</p> </td></tr> </table> 0 400000 2562 11283 20182 1000000 75000 2500000 1915556 5000000 1300000 <p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> <table style="margin:0 auto;border-collapse:collapse;width:100%"><tr><td style="width:43.96%" valign="top"/><td style="width:23.7%;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">March 31, 2022</p> </td><td style="width:4.8%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:27.54%;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">March 31, 2021</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:43.96%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify">Expected volatility</p> </td><td style="background-color:#CCEEFF;width:23.7%;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">N/A</p> </td><td style="background-color:#CCEEFF;width:4.8%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:27.54%;border-top:0.5pt solid #000000" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">201 %</p> </td></tr> <tr><td style="width:43.96%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify">Expected dividends</p> </td><td style="width:23.7%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">N/A</p> </td><td style="width:4.8%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:27.54%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">0 %</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:43.96%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify">Expected term</p> </td><td style="background-color:#CCEEFF;width:23.7%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">N/A</p> </td><td style="background-color:#CCEEFF;width:4.8%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:27.54%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">7 Years   </p> </td></tr> <tr><td style="width:43.96%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify">Risk-free interest rate</p> </td><td style="width:23.7%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">N/A</p> </td><td style="width:4.8%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:27.54%" valign="top"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">1.2 %</p> </td></tr> </table> 2.01 0 P7Y 0.012 <p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> <table style="border-collapse:collapse;width:100%"><tr><td style="width:25.5%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td colspan="4" style="width:36.28%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">March 31,</p> </td><td style="width:3.7%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td colspan="4" style="width:34.52%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">December 31,</p> </td></tr> <tr><td style="width:25.5%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td colspan="4" style="width:36.28%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">2022</p> </td><td style="width:3.7%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td colspan="4" style="width:34.52%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">2021</p> </td></tr> <tr><td style="width:25.5%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:15.68%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:2.42%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:3.96%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:14.22%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">Weighted-Average</p> </td><td style="width:3.7%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:13.94%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:2.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:4.14%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:13.88%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">Weighted-Average</p> </td></tr> <tr><td style="width:25.5%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:15.68%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">Shares</p> </td><td style="width:2.42%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:3.96%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:14.22%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">Exercise Price</p> </td><td style="width:3.7%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:13.94%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">Shares</p> </td><td style="width:2.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:4.14%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:13.88%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">Exercise Price</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:25.5%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Outstanding at beginning of year</p> </td><td style="background-color:#CCEEFF;width:15.68%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">3,290,556</p> </td><td style="background-color:#CCEEFF;width:2.42%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:3.96%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">$</p> </td><td style="background-color:#CCEEFF;width:14.22%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">0.19</p> </td><td style="background-color:#CCEEFF;width:3.7%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:13.94%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">2,890,556</p> </td><td style="background-color:#CCEEFF;width:2.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:4.14%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">$</p> </td><td style="background-color:#CCEEFF;width:13.88%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">0.20</p> </td></tr> <tr><td style="width:25.5%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Granted</p> </td><td style="width:15.68%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">-</p> </td><td style="width:2.42%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:3.96%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:14.22%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">-</p> </td><td style="width:3.7%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:13.94%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">400,000</p> </td><td style="width:2.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:4.14%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:13.88%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">0.11</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:25.5%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Exercised</p> </td><td style="background-color:#CCEEFF;width:15.68%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">-</p> </td><td style="background-color:#CCEEFF;width:2.42%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:3.96%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:14.22%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">-</p> </td><td style="background-color:#CCEEFF;width:3.7%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:13.94%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">-</p> </td><td style="background-color:#CCEEFF;width:2.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:4.14%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:13.88%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">-</p> </td></tr> <tr><td style="width:25.5%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Expired or cancelled</p> </td><td style="width:15.68%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">-</p> </td><td style="width:2.42%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:3.96%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:14.22%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">-</p> </td><td style="width:3.7%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:13.94%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">-</p> </td><td style="width:2.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:4.14%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:13.88%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">-</p> </td></tr> <tr><td style="background-color:#CCEEFF;width:25.5%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Outstanding at end of period</p> </td><td style="background-color:#CCEEFF;width:15.68%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">3,290,556</p> </td><td style="background-color:#CCEEFF;width:2.42%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:3.96%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:14.22%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">0.19</p> </td><td style="background-color:#CCEEFF;width:3.7%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:13.94%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">3,290,556</p> </td><td style="background-color:#CCEEFF;width:2.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:4.14%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:13.88%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">0.19</p> </td></tr> <tr><td style="width:25.5%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000">Exercisable </p> </td><td style="width:15.68%;border-top:3px double #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">3,173,889</p> </td><td style="width:2.42%" valign="middle"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:3.96%;border-top:3px double #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:14.22%;border-top:3px double #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">0.19</p> </td><td style="width:3.7%" valign="middle"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:13.94%;border-top:3px double #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">3,065,556</p> </td><td style="width:2.56%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:4.14%;border-top:3px double #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> $ </p> </td><td style="width:13.88%;border-top:3px double #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">0.19</p> </td></tr> </table> 3290556 0.19 2890556 0.20 0 0 400000 0.11 0 0 0 0 0 0 0 0 3290556 0.19 3290556 0.19 3173889 0.19 3065556 0.19 <p style="font:10pt Times New Roman;margin:0;color:#000000">A summary of the status of the options and warrants outstanding at March 31, 2022 is presented below:</p> <p style="font:10pt Times New Roman;margin:0;margin-left:48.45pt;color:#000000"> </p> <table style="border-collapse:collapse;width:100%"><tr><td style="width:22.04%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">Range of Exercise Prices</p> </td><td style="width:2.8%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:17.82%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">Number Outstanding</p> </td><td style="width:3.14%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:15.4%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">Weighted-Average Remaining Contractual Life</p> </td><td style="width:3.14%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:2.78%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:13.08%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">Number Exercisable</p> </td><td style="width:6.2%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:13.6%;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center">Weighted-Average Exercise Price</p> </td></tr> <tr><td style="width:22.04%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:2.8%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:17.82%;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:3.14%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:15.4%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:3.14%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:2.78%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:13.08%;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td><td style="width:6.2%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> </td><td style="width:13.6%;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:center"> </p> </td></tr> <tr><td style="background-color:#CCEEFF;width:22.04%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">$0.01-0.99</p> </td><td style="background-color:#CCEEFF;width:2.8%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:17.82%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">3,290,556</p> </td><td style="background-color:#CCEEFF;width:3.14%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:15.4%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">2.71 years</p> </td><td style="background-color:#CCEEFF;width:3.14%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:2.78%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:13.08%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">3,173,889</p> </td><td style="background-color:#CCEEFF;width:6.2%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right"> </p> </td><td style="background-color:#CCEEFF;width:13.6%" valign="bottom"><p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:right">0.19</p> </td></tr> </table> 0.01 0.99 3290556 P2Y8M15D 3173889 0.19 <p style="font:10pt Times New Roman;margin:0;color:#000000">NOTE 9   SUBSEQUENT EVENT</p> <p style="font:10pt Times New Roman;margin:0;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000">On April 18, 2022, in consideration for their services as independent directors, the Company granted to each of Messrs. Gary S. Maier and John M. Palumbo, a Non-Qualified Stock Option pursuant to the 2017 Long-Term Incentive Plan to purchase 50,000 shares of common stock at an exercise price of $0.0531, representing 100% of the closing price of the common stock of the Corporation as of such date. Said Options shall vest and be exercisable immediately and shall be exercisable for a period of seven years from the date of grant. </p> <p style="font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000"> </p> <p style="font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000">Also on April 18, 2022, the Company granted to Werner Funk, President and CEO, a Non-qualified Stock Option pursuant to the 2017 Long-Term Incentive Plan, to purchase 50,000 shares of common stock at any exercise price of $0.05841, representing 110% of the closing price of the common stock of the Corporation as of such date. Said Options shall vest and be exercisable immediately and shall be exercisable for a period of seven years from the date of grant. </p> <p style="font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000;background-color:#FFFFFF"> </p> <p style="font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000;background-color:#FFFFFF">The securities were issued pursuant to an exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933. The individual receiving the options is intimately acquainted with the Company’s business plan and proposed activities at the time of issuance, and possessed information on the Company necessary to make an informed investment decision. </p>