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Stockholders Equity
6 Months Ended
Jun. 30, 2022
Stockholders Equity  
Stockholders' Equity

NOTE 5. Stockholders’ Equity

 

In February 2021, the Company commenced a private placement of its common shares at an offering price of $1.25 per share. As of March 31, 2021, the Company had sold 788,000 shares of its common stock for gross proceeds of $1,145,000. In addition, each investor was issued a warrant to purchase an additional share at $1.75 for every 10 shares they purchased. In April 2021, the Company sold an additional 128,000 shares of its common stock for gross proceeds of $160,000. The private capital raise was exempt from registration under Regulation D Rule 506(c). This funding will be utilized for day-to-day operations as well as to finance the development of our ECO APP (see comments below) and the mobile system for the production of hydrogen and electric energy during the movement of automobile, along with other unforeseen projects that the Company will elect to develop and participate in.

 

On April 29, 2021, the Company paid Vladimir Valisenko, the former CEO of the Company, $50,000 in exchange for services and the cancellation of 5,000,000 of the Company’s common stock.

 

In August 2021, the Company cancelled 400,000 shares of common stock in exchange for $60,000.

 

On September 27, 2021, the Company cancelled 2,355,885 shares of common stock in exchange for $20,000.

 

In September 2021, the Company issued 1,200 shares of common stock related to the exercise of warrants for $2,100.

 

In October 2021, the Company sold 56,000 shares of common stock for $280,000.

 

On February 2, 2022, a former related party retired 1,616,455 shares of common stock.

 

On March 30, 2022, the Company issued 30,000 shares of common stock related to a consulting agreement valued at $156,000.

 

On May 26, 2022, the company retired 1,200 shares of common stock valued at $2,100 and issued 8,000 shares of common stock related to the exercise of warrants.