STOCKHOLDERS’ DEFICIT

6 Months Ended

Jun. 30, 2023

Equity [Abstract]

STOCKHOLDERS’ DEFICIT

7. STOCKHOLDERS’ DEFICIT

During the six months ended June 30, 2022, two holders of class D preferred stock, converted 60 preferred D shares into 2,000,000 common shares.

During the year ended December 31, 2022, the Company received cash of $30,000 which is included in stock subscription payable at December 31, 2022, for a private placement of common shares priced at $0.01 per share, of which $5,000 was from William Orchow, a related party. During the six months ended June 30, 2023, the Company reduced stock subscription payable by $30,000 and issued 3,000,000 common shares.

During the six months ended June 30, 2023, the Company received $162,667 cash as a result of the exercise of Class R warrants at an exercise price of $0.024 per common share, resulting in the issuance of 6,777,778 common shares. These shares were originally owned by Mr. Gallagher and were transferred to unrelated parties. During the six months ended June 30, 2022, the Company received $133,157 cash as a result of the exercise of Class R warrants at an exercise price of $0.03 and $0.045 and T warrants at an exercise price of $0.03 per common share, resulting in the issuance of 3,660,817 common shares. Of that amount, 2,555,555 of the warrants exercised were owned by Mr. Gallagher and were transferred to unrelated parties. The unrelated parties then exercised the warrants for cash.

During the year ended December 31, 2021, the Company received an additional $40,000 for the exercise of Class T warrants which are included in stock subscription payable at June 30, 2023 and December 31, 2022. Once the exercise is complete, the Company will issue 1,333,333 common shares for the exercise. These warrants were exercised subsequent to June 30, 2023.