COMMON STOCK, OPTIONS AND WARRANTS

6 Months Ended

Jun. 30, 2022

Equity [Abstract]

COMMON STOCK, OPTIONS AND WARRANTS

8. COMMON STOCK, OPTIONS AND WARRANTS

The Company has authorized 150,000,000 shares of its Common Stock for issuance, of which 78,696,461 were issued and outstanding at each June 30, 2022, and December 31, 2021.

During the three months ended June 30, 2022 and June 30, 2021, there were no warrants issued by the Company. As of June 30, 2022, the Company has one warrant issued and outstanding, this warrant was issued in December 2018 to Preprogen’s designee to purchase up to 15.0 million shares of the Company’s Common Stock, at an exercise price of $0.05 per share. The warrant was exercisable immediately upon issuance, and expires on December 14, 2022.

2007 Incentive and Non-Qualified Stock Option Plan. The fair value of options granted under the Company’s 2007 Incentive and Non-Qualified Stock Option Plan is recorded as compensation expense over the vesting period, or, for performance-based awards, the expected service term. The Company did not issue any options during the three and six months ended June 30, 2022, or 2021. As of June 30, 2022, the Company has no options issued and outstanding.