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Common Stock
3 Months Ended
Jun. 30, 2019
Equity [Abstract]  
Common Stock

Note 3 – COMMON STOCK

 

As of March 31, 2019 the Company had 2,529,680 shares issued and outstanding.

 

On May 1, 2019, the Company entered into a service agreement (the “Optima Service Agreement”) with Oded Gilboa, our Chief Financial Officer, and Optima Solutions Ltd. an Israeli corporation (“Optima”). Under the terms of the Optima Service Agreement, the Company will issue 15,000 share of common stock of the Company along with warrants to purchase 90,000 shares of the Company’s common stock, at an exercise price of $0.01 per share which vest as follows (i) 30,000 shares as of May 1, 2019; (ii) 30,000 shares as of January 1, 2020; and (iii) 30,000 shares as of January 1, 2021. Such warrants were valued at $8,164, using Black-Scholes pricing model. Assumptions used in the valuation included the following: a) market value of stock on measurement date of $0.10; b) risk-free rate of 2.47%; and c) dividend yield of 0%. The Company expensed $2,721, for the three-month period ended June 30, 2019 to reflect the vested amount of warrants.

 

On June 3, 2019, 15,000 shares were issued, as per the Optima Service Agreement. The shares were valued at $0.10 per share and considered not forfeitable and fully earned on the date of the issuance.

 

On June 3, 2019, the Chief Financial Officer exercised the warrant to purchase 30,000 shares of common stock of the Company at $0.01 per share. As of June 30, 2019, the Company recorded a $300 stock subscription receivable for this issuance. 29,800 of these shares were issued as of June 30, 2019 with the intent of issuing the remaining 200 share subsequent to  June 30, 2019. 

 

There was no issuance of common stock for the three months ended June 30, 2018.