Stockholders’ Equity

12 Months Ended

Dec. 31, 2019

Equity [Abstract]

STOCKHOLDERS’ EQUITY

NOTE 6 – STOCKHOLDERS' EQUITY

At a Board of Director's Meeting on July 30, 2018, the Company authorized a reverse split that resulted in a reduction of the number of outstanding and issued shares of both common and preferred stock so that after the split became effective on August 13, 2018, the shares of both common and preferred stock were reduced to 1 share for each 30 shares currently issued and outstanding. The effect on the Balance Sheet is a transfer of value from stock value at par to Additional Paid-in Capital. As a result of the one (1) for thirty (30) reverse stock split, the Company will continue to be authorized to issue 300,000,000 shares of Common Stock, and 50,000,000 shares of Preferred Stock. The reverse split has been retroactively applied to all periods presented.

Preferred stock

As of December 31, 2019 and 2018, no preferred shares have been designated or issued.

Common stock

On May 30, 2019, 25,000 shares of common stock were issued as a result of conversion of accrued interest on the Auctus Note #1 at $0.20 per share for a total of $5,000.

On July 18, 2019, 25,000 shares of common stock were issued as a result of conversion of accrued interest on the Auctus Note #1 at $0.20 per share for a total of $5,000.

On August 20, 2019, 20,000 shares of common stock were sold and issued from the active S-1 at $1 per share for a total of $20,000.

On August 22, 2019, 25,000 shares of common stock were issued as a result of conversion of accrued interest on the Auctus Note #1 at $0.20 per share for a total of $5,000.

On October 8, 2019, 50,000 shares of common stock were issued as a result of conversion of principal as well as accrued interest on the Auctus Note #1 at $0.20 per share for a total of $10,000.

On November 8, 2019, 100,000 shares of common stock were issued as a result of conversion of accrued interest on the Auctus Note #2 at $0.12 per share for a total of $12,000.

Between November 2, 2018 and December 31, 2019, 1,127,000 shares were awarded with an average cost per share of $0.77, under the 2010 Stock Plan for a total value of $864,551. For details, see Shares Awarded and Issued under Note 5.

As of December 31, 2019, the Company has 86,475,673 shares of common stock issued and outstanding. At December 31, 2018 there were 85,103,673 shares of common stock issued and outstanding.

Common Stock Options/Warrants

For the year ended December 31, 2019 the Company issued 408,333 Warrants as part of a convertible note agreements. The warrants total value allocated to debt discount was $129,929. For the year ended December 31, 2018 the Company issued 208,333 Warrants as part of a convertible note agreement. The warrants total value allocated to debt discount was $72,412. For details, see Convertible Note Payable under Note 3.

The following table summarizes the Company's common stock warrant activity for the year ended December 31, 2019 and 2018:

			Weighted Average		Weighted- Average Remaining
	Number of Warrants		Exercise Price		Expected Term
Outstanding as of January 1, 2018		-	$	-		-
Granted		208,333		0.60		5.0
Exercised		-		-		-
Forfeited/Cancelled		-		-		-
Outstanding as of December 31, 2018		208,333	$	0.60		4.8
Granted		408,333		1.29		5.0
Exercised		-		-		-
Forfeited/Cancelled		-		-		-
Outstanding as of December 31, 2019		616,666	$	1.06		4.2

Through December 31, 2019 there were 341,000 options were awarded under the 2010 Stock Option Plan. The options total fair value at the time of award was $257,143. There were no options awarded in 2018.

The following table summarizes the Company's common stock warrant and options activity for the year ended at December 31, 2019 and the year ended December 31, 2018:

			Weighted Average		Weighted- Average Remaining
	Number of Options		Exercise Price		Expected Term
Outstanding as of January 1, 2018		-	$	-		-
Granted		-		-		-
Exercised		-		-		-
Forfeited/Cancelled		-		-		-
Outstanding as of December 31, 2018		-	$	-		-
Granted		341,000		0.96		3.0
Exercised		-		-		-
Forfeited/Cancelled		-		-		-
Outstanding as of December 31, 2019		341,000	$	0.96		2.7