Common Stock and Common Stock Warrants

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Common Stock and Common Stock Warrants

5. Common Stock and Common Stock Warrants

Each holder of common stock is entitled to vote on all shareholder matters and is entitled to one vote for each share held. 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 or any class, whether now hereafter authorized or whether issued for money, for consideration other than money, or by way of dividend.

As of December 31, 2023, and 2022, the Company was authorized to issue 750,000,000 and 750,000,000 common shares, respectively, at a par value of $0.0001 per share. As of December 31, 2023, and 2022, the Company had 83,657,853 and 83,045,857 shares of common stock outstanding, respectively.

Common Stock Warrants

The Company did not issue or modify any warrants in the twelve-month period ended December 31, 2023.

When the Company sells its stock to stockholders for cash, it periodically issues common stock warrants to the investors at prices agreed at the date of the original sale. The Company incurs a cost for the rights attached to the warrants, which is calculated using the Black-Scholes Model and is reported in the Statements of Operations in the period of issuance.

A summary of outstanding warrants as of December 31, 2023 follows:

Expiration Date	Number of Shares		Exercise Price		Remaining Life (years)
Third Quarter 2028		3,000		70		4.75
Second Quarter 2032		28,995		10-70		8.50
		31,995	$	10-70

Following is a summary of outstanding stock warrants activity for the twelve months ended December 31, 2023 and 2022:

	Number of Shares			Exercise Price Per Share		Weighted Average Price
Warrants as of December 31, 2021		20,057,162			$2-290	$	5.21
Issued		-			-		-
Expired and forfeited		(2,293,667	)		0.05-290		205.25
Exercised		(17,725,000	)		0.05		0.05
Warrants as of December 31, 2022		38,495			$10-200	$	59.42
Issued		-			-		-
Expired and forfeited		(6,500	)		30-200		73.85
Exercised		-			-		-
Warrants as of December 31, 2023		31,995			$10-70	$	56.49