ACCRUED STOCK PAYABLE

9 Months Ended

Sep. 30, 2020

ACCRUED STOCK PAYABLE

ACCRUED STOCK PAYABLE

NOTE 7. ACCRUED STOCK PAYABLE

The following tables summarize the changes in accrued common stock payable:

			Number of
	Amount		Shares
Balance as of December 31, 2019	$	80,657		34,469
Employee stock award accrual		19,343		—
Consultant stock award		60,900		100,000
Investor stock award accrual		2,185,000		5,485,814
Stock issued		(2,285,000)		(5,520,283)
Balance as of September 30, 2020	$	60,900		100,000

On February 18, 2020 we granted a consultant 100,000 fully vested shares for consulting services. Based on a stock price of $0.61 on the date of grant, the consultant will receive $60,900 worth of our common stock. As of September 30, 2020, none of the stock had been issued.

On May 29, 2020, we entered into a subscription agreement with Hershey Strategic Capital, LP and Shore Ventures III, LP with respect to the sale of shares of common stock. During the second quarter of 2020, 5,485,814 shares of common

stock were granted. As of September 30, 2020, all of the stock was issued. See Note 11 for further details of the stock transaction.