Common Stock

6 Months Ended

Jun. 30, 2023

Common Stock [Abstract]

COMMON STOCK

NOTE 6 – COMMON STOCK

Common Stock - Option Grants

The Company recorded no compensation expense for the six months ended June 30, 2023 and 2022. As of June 30, 2023, there was $0 in unrecognized compensation expense.

The Company did not grant any options during the six months ended June 30, 2023, none expired, and none were cancelled. There are no unvested options as of June 30, 2022. 

For warrants granted to non-employees in exchange for services, the Company recorded the fair value of the equity instrument using the Black-Scholes pricing model unless the value of the services is more reliably measurable.

The Company did not grant any warrants during the six months ended June 30, 2023 and no warrants were exercised, 5,000 expired, and none were cancelled. At June 30, 2022 there were 5,000 warrants outstanding, with exercise prices of $56.00, a weighted exercise price of $56.00 and a weighted remaining contractual life of 0.9 years.

The aggregate intrinsic value of the 5,000 outstanding and exercisable warrants at June 30, 2023 and December 31, 2022 was $0. The intrinsic value is the difference between the closing stock price on June 30, 2023 and December 31, 2022, and the exercise price, multiplied by the number of in-the-money warrants had all warrant holders exercised their warrants on June 30, 2023 or June 30, 2022.

Common Stock issued on exercise of stock options

None.

Sale of Common Stock

None.

Option Grants  

During the year ended December 31, 2022 and the three and six months ended June 30, 2023, there were no option grants issued, cancelled, or outstanding.

Common Stock Purchase Warrants

For warrants granted to non-employees in exchange for services, the Company recorded the fair value of the equity instrument using the Black-Scholes pricing model unless the value of the services is more reliably measurable.

During the year ended December 31, 2022 and the six months ended June 30, 2023, there were no stock purchase warrants issued, cancelled, or outstanding.

The aggregate intrinsic value of the outstanding and exercisable warrants at December 31, 2023 and 2022, respectively, was $0. The intrinsic value is the difference between the closing stock price on December 31, 2023, and 2022 and the exercise price, multiplied by the number of in-the-money warrants had all warrant holders exercised their warrants on December 31, 2023, and 2022 is $0.