WARRANTS

6 Months Ended

Jun. 30, 2021

WARRANTS

NOTE 6 - WARRANTS

NOTE 6 - WARRANTS

During the six months ended June 30, 2021, the Company issued 146,667 warrants with an exercise price of $1.50 per common share, for a period of 5 years.

The Company determined that the warrants qualify for derivative accounting as a result of the reset feature, which led to no explicit limit to the number of shares to be delivered upon future settlement of the conversion options.

The following summarizes the Company’s warrant activity during the six months ended June 30, 2021:

			Weighted average		Weighted average
	Warrants		exercise price		remaining life (Year)
Outstanding - December 31, 2020		146,667	$	1.50		4.95
Granted		146,667		1.50		5.00
Exercised		-		-		-
Cancelled		-		-		-
Outstanding – June 30, 2021		293,334	$	1.50		4.53

The intrinsic value of the warrants as of June 30, 2021 is $0. All of the outstanding warrants are exercisable as of June 30, 2021.