STOCKHOLDERS’ EQUITY

3 Months Ended

Mar. 31, 2024

Equity [Abstract]

STOCKHOLDERS’ EQUITY

NOTE 7 – STOCKHOLDERS’ EQUITY

The total number of shares of capital stock, which the Company has authority to issue, is 1,010 million, 1 billion of which are designated as common stock at $0.001 par value (the “Common Stock”) and 10 million of which are designated as preferred stock par value $0.001 (the “Preferred Stock”). As of March 31, 2024, the Company had 302,803,463 shares of Common Stock issued and outstanding and no shares of Preferred Stock were issued. Holders of shares of Common stock shall be entitled to cast one vote for each share held at all stockholders’ meetings for all purposes, including the election of directors. The Common Stock does not have cumulative voting rights. No holder of shares of stock of any class shall be entitled as a matter of right to subscribe for or purchase or receive any part of any new or additional issue of shares of stock of any class, or of securities convertible into shares of stock of any class, whether now hereafter authorized or whether issued for money, for consideration other than money, or by way of dividend. The Company has yet to designate any rights, preferences and privileges for any of its authorized Preferred Stock.

For the three months ended March 31, 2024, the Company issued an aggregate of 52,500 shares of its common stock for services valued at $4,200.

For the three months ended March 31, 2024, 87,500 warrants were issued for services. Using a Black-Scholes asset pricing model, these had a value of $5,494.

For the three months ended March 31, 2024, 0 shares of common stock were issued for cash.

For the three months ended March 31, 2024, 133,333 warrants expired. Remaining warrants outstanding are 23,945,143.

For the three months ended March 31, 2024, 1,875,000 stock options vested. Using a Black-Scholes asset pricing model, these had a value of $251,290. During the three months ended March 31, 2024, the Company recognized additional stock based compensation of $27,958 in connection with modification of the exercise price of 6,175,000 vested options. As of the end of March 31, 2024, the total number of options outstanding and vested is 29,955,000 and unvested is 31,600,000.

At March 31, 2024, there was $960,000 in convertible notes that, if converted, would convert into 8,762,179 shares and 4,608,333 warrants.