Stockholder’s deficit

9 Months Ended

Sep. 30, 2024

Equity [Abstract]

Stockholder’s deficit

15.  Stockholder’s deficit

a. Common shares

Authorized and outstanding 

The Company has authorized 10,000,000,000 shares with a par value of $0.01 per share. The company has issued 7,729,053,805 and 3,729,053,805 shares of common stock at September 30, 2024 and December 31, 2023, respectively.

On July 12, 2024, the Company issued 4,000,000,000 shares of common stock to Mr. Shawn Leon, the company CEO and his spouse, Ms. Eileen Greene, both related parties, for the conversion of $2,000,000 of related party payables, see note 14 above.

b. Series A Preferred shares

Authorized, issued and outstanding 

The Company has authorized 10,000,000 Series A preferred shares with a par value of $0.01 per share. The Company has issued and outstanding 4,600,000 and 4,000,000 Series A Preferred shares at September 30, 2024 and December 31, 2023, respectively.

On September 27, 2024, the Company issued 600,000 shares of Series A Preferred stock to Mr. Shawn Leon for the conversion of $6,000 of related party payables, see note 14 above.

c. Series B preferred shares

Authorized and outstanding 

The Company has authorized 400,000 Series B preferred shares with a par value of $1.00 per share. The company has no issued and outstanding Series B Preferred shares at September 30, 2024 and December 31, 2023.

d. Stock options

The Company’s board of directors adopted the Greenstone Healthcare Corporation 2013 Stock Option Plan (the “Plan”) to promote its long-term growth and profitability by (i) providing its key directors, officers and employees with incentives to improve stockholder value and contribute to its growth and financial success and (ii) enable it to attract, retain and reward the best available persons for positions of substantial responsibility. A total of 10,000,000 shares of the Company’s common stock have been reserved for issuance upon exercise of options granted pursuant to the Plan. The Plan allows the Company to grant options to its employees, officers and directors and those of its subsidiaries, provided that only the Company’s employees and those of its subsidiaries may receive incentive stock options under the Plan. The Company has no issued options at September 30, 2024 under the Plan.

e. Warrants

All of the warrants have cashless exercise terms whereby in-the-money warrants may be exercised by reducing the number of shares issued in terms of the warrant exercise to offset the proceeds due on the exercise.

All of the warrants have price protection features whereby any securities issued subsequent to the date of the warrant issuance date, were issued at a lower price, or have conversion features that are lower than the current exercise price, or were converted at a lower price, or are exercisable at a lower price, to the current warrant exercise price, will result in the exercise price of the warrant being set to the lower issue, conversion or exercise price.

e. Warrants (continued)

A summary of the Company’s warrant activity during the period from January 1, 2023 to September 30, 2024 is as follows: 

	No. of shares			Exercise price per share		Weighted average exercise price
Outstanding as of January 1, 2023		602,852,506			$0.000675 to $0.00205	$	0.001306
Granted		745,810,761			$0.001		0.001
Forfeited/cancelled		(326,286,847	)		$0.000675		0.000675
Exercised		–			–		–
Outstanding as of December 31, 2023		1,022,376,420			$0.001 to $0.00205	$	0.0012840
Granted		–			–		–
Forfeited/cancelled		–			–		–
Exercised		–			–		–
Outstanding as of September 30, 2024		1,022,376,420			$0.001 to $0.00205	$	0.0012840

The following table summarizes information about warrants outstanding at September 30, 2024:

	Warrants outstanding						Warrants exercisable
Exercise price	No. of shares		Weighted average remaining years		Weighted average exercise price		No. of shares		Weighted average exercise price
$0.001		745,810,761		2.75				745,810,761
$0.002050		276,565,659		1.26				276,565,659
		1,022,376,420		2.35	$	0.001284		1,022,376,420	$	0.001284

All of the warrants outstanding at September 30, 2024 are vested. The warrants outstanding at September 30, 2024 have an intrinsic value of $0.