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Prepaid Expenses and Other
6 Months Ended
Jun. 30, 2021
Prepaid Expenses And Other Current Assets [Abstract]  
PREPAID EXPENSES AND OTHER

NOTE 5 – PREPAID EXPENSES AND OTHER

 

On March 22, 2017, the Company granted to the investor in the Investment Agreement warrants to purchase 4,000,000 shares at $0.25 per share, 2,000,000 shares at $0.50 per share and 1,000,000 shares at $1.00 per share. On June 7, 2017, the Company also granted warrants to purchase 200,000 shares at $0.25 per share, 100,000 shares at $0.50 per share and 50,000 shares at $1.00 per share to an advisor as a fee in connection with the Investment Agreement. The aggregate fair value of these warrants totaling $153,625 was recorded as a deferred offering cost and was amortized over the initial period during which the Company was able access the financing, which began on May 15, 2017 and ended on May 15, 2020. The Company recognized general and administrative expense related to the cost of the warrants of $-0- and $6,401 in the three months ending June 30, 2021 and 2020, respectively, and $-0- and $12,802 in the six months ending June 30, 2021 and 2020, respectively.