WARRANTS

12 Months Ended

Dec. 31, 2023

WARRANTS

WARRANTS

NOTE 5 – WARRANTS

The below table summarizes the activity of warrants exercisable for shares of common stock during the years ended December 31, 2023 and December 31, 2022:

	Number of Shares			Weighted- Average Exercise Price
Balances as of December 31, 2021		5,556,666,666		$	0.0001
Granted		282,080,000			0.0005
Redeemed		-			-
Exercised		(201,613,143	)		0.0001
Forfeited		-			-
Balances as of December 31, 2022		5,637,133,523		$	0.0001
Granted		184,883,994			0.0005
Redeemed		-			-
Exercised		(227,308,705	)		0.0001
Forfeited		-			-
Balances as of December 31, 2023		5,594,708,812		$	0.0002

During the year ended December 31, 2023, the Company issued 185,214,500 shares of common stock for the exercise of 227,308,705 units of share purchase warrants.

During the year ended December 31, 2022, the Company issued 176,411,500 shares of common stock for the exercise of 201,613,143 units of share purchase warrants.

The fair value of each warrant on the date of grant is estimated using the Black-Scholes option valuation model. The following weighted-average assumptions were used for warrants granted during the years ended December 31, 2023 and 2022:

	Year Ended
	December 31,
	2023			2022
Exercise price	$0.0001 - $0.0008			$0.0001 - $0.0008
Expected term	2.05 years			2.98 years
Expected average volatility	204% - 356		%	180% - 365		%
Expected dividend yield		-			-
Risk-free interest rate	3.81% - 4.88		%	2.28% - 4.27		%

The following table summarizes information relating to outstanding and exercisable warrants as of December 31, 2023:

Warrants Outstanding						Warrants Exercisable
		Weighted Average
Number		Remaining Contractual		Weighted Average		Number		Weighted Average
of Shares		life (in years)		Exercise Price		of Shares		Exercise Price
	5,594,708,812		2.05	$	0.0002		4,521,078,152	$	0.0001

Aggregate intrinsic value is the sum of the amounts by which the quoted market price of the Company’s stock exceeded the exercise price of the warrants at December 31, 2023 for those warrants for which the quoted market price was in excess of the exercise price (“in-the-money” warrants). As of December 31, 2023, the aggregate intrinsic value of warrants outstanding was approximately $452,108 based on the closing market price of $0.0002 on December 31, 2023.

The Company determined that the warrants qualify for derivative accounting as a result of the related issuance of the convertible notes. As of December 31, 2023 and December 31, 2022, the Company valued the fair value on the 5,594,708,812 and 5,637,133,523 units of common stock purchase warrants granted at $1,093,440 and $1,683,773 based on Black-Scholes option valuation model, respectively.