Prepaid Expenses and Other

12 Months Ended

Dec. 31, 2021

Prepaid Expenses And Other Current Assets [Abstract]

PREPAID EXPENSES AND OTHER

NOTE 6 –PREPAID EXPENSES AND OTHER

Prepaid and other expenses as of December 31, 2021 and 2020 were as follows:

	December 31,
	2021			2020
Insurance prepayments	$	25,020		$	19,590
Other expense prepayments		50,860			14,119
Rent deposits		49,125			43,236
Deferred equity compensation		151,250			---
Total prepaid expenses and other		276,255			76,945
Less: long term portion		(138,625	)		(17,942	)
Prepaid expenses and other, current portion	$	137,630		$	59,003

Deferred equity compensation reflects common stock grants made in the year ended December 31, 2021 from the Company’s 2021 Equity Incentive Plan that vest over a four-year period and that are settleable for a fixed dollar amount rather than a fixed number of shares. The original grant date fair value of the equity compensation was $165,000. Amortization in the years ended December 31, 2021 and 2020 was $13,750 and $-0-, respectively. At inception, the Company recorded a corresponding liability captioned “Liability-classified equity instruments.”