Common and Preferred Stock

The Company is authorized to issue 10,000,000,000 shares of common stock and 1,000,000 shares of preferred A (each share convertible on one for one base for common stock, no voting rights), 10,000 shares of preferred A-2 convertible into four times the sum of all shares of common stock issued and outstanding with the same voting rights), 1,000,000 shares of preferred B (each share converted into 10 shares of common stock and has 10 votes for any election) and 1,000 shares of preferred C class (each share is not convertible and has voting rights equal to four time the sum of total common stock shares issued and outstanding plus the total number of series B, A and A-2 that are issued and outstanding.) The increase in authorized shares of common stock from 500,000,000 to 1,000,000,000 was approved by the shareholders and Board of Directors on September 27, 2017. The increase from 1,000,000,000 to 3,000,000,000 shares was effective December 12, 2017, the increase from 3,000,000,000 to 5,000,000,000 shares was effective March 21, 2018 and the increase from 5,000,000,000 to 10,000,000,000 was effective May 17, 2018.

As of September 17, 2018, a reverse stock split in the ratio 5,000 for 1 share and the name change from X Rail Entertainment, Inc. to Las Vegas Xpress, Inc. was effective. The stock split has been retroactively reflected for all periods presented.

During the six months ended June 30, 2019, the Company issued an aggregate of 775,000,000 shares of common stock for compensation of $77,500 valued at the stock price on grant date. During the six months ended June 30, 2018, the Company issued an aggregate of 133,166 shares of common stock for compensation of $2,281,247.

During the six months ended June 30, 2019, the Company issued an aggregate of 2,001,133,771 shares of common stock for note or interest conversion of $172,643. During the six months ended June 30, 2018 the Company issued 15,109 shares of common stock for note or interest conversion of $51,300.

There were no warrants exercised during the six months ended June 30, 2019 and 2018.

During the six months ended June 30, 2019 and 2018, the Company issued 0 and 25,000 shares of common stock for services valued at the market price of $0 and $200,000 on the grant date.

Warrants

The Company accounted for the issuance of Warrants in conjunction from the issuance of convertible notes as an equity instrument and recognized the warrants under the Black-Scholes valuation model based on the Company’s market share price on the grant date.

The below table summarizes warrant activity during the six months ended June 30, 2019:

	Number of Shares		Weighted- Average Exercise Price
Balances as of December 31, 2018		3,426	$	697
Granted				-
Exercised		-		-
Forfeited		1,990		-
Balances as of June 30, 2019		1,436	$	750

The fair value of each warrant on the date of grant is estimated using the Black-Scholes option valuation model. The following weighted-average assumptions were used for warrants granted during the six months ended June 30, 2019 and 2018:

	Six Months Ended
	June 30,
	2019			2018
Exercise price	$	750		$	750
Expected term	0.66 – 1.23 years			1.91 – 2.48 years
Expected average volatility		629.60	%		297.55	%
Expected dividend yield		-			-

The following table summarizes information relating to outstanding and exercisable warrants as of June 30, 2019:

Warrants Outstanding

Warrants Exercisable

Weighted Average

Number

Remaining Contractual

Weighted Average

Number

Weighted Average

of Shares

life (in years)

Exercise Price

of Shares

Exercise Price

1,436

0.81

750

1,436

750

As of June 30, 2019, the aggregate intrinsic value of warrants outstanding was $0.14 based on the closing market price of $0.0001 on June 30, 2019.