Note 10 - Stockholders' Deficit

9 Months Ended

Sep. 30, 2024

Stockholders' Deficit

Stockholders' Deficit

Note 10 – Stockholders’ Deficit

Preferred Stock

The Company has authorized 500,000,000 shares of preferred stock with a par value of $0.001 per share. No shares of the preferred stock have been issued. 

Twinlab Consolidation Corporation 2013 Stock Incentive Plan

The Twinlab Consolidation Corporation 2013 Stock Incentive Plan (the “TCC Plan”) was originally established with a pool of 20,000,000 shares of common stock for issuance as incentive awards to employees for the purposes of attracting and retaining qualified employees. The Company estimated the grant date fair market value per share of the restricted stock units and amortized the total estimated grant date value over the vesting periods. The restricted stock unit awards vested 25% annually on various dates through 2019. There were no outstanding or unvested restricted stock units at December 31, 2023 or September 30, 2024. As of September 30, 2024, 0 shares remain available for use in the TCC Plan.  

Stock Subscription Receivable and Loss on Stock Price Guarantee

As of September 30, 2024, the stock subscription receivable dated August 1, 2014 for the purchase of 1,528,384 shares of the Company’s common stock had a principal balance of $30 and bears interest at an annual rate of 5%.