EQUITY TRANSACTIONS

6 Months Ended

Jun. 30, 2022

Equity [Abstract]

EQUITY TRANSACTIONS

NOTE 13 – EQUITY TRANSACTIONS

Common Stock:

Six Months Ended June 30, 2022

During the six months ended June 30, 2022, the Company issued 1,015,091 shares of restricted common stock to Richard Kelly Clark for $47,097 in compensation from the previous year, recorded as common stock to be issued as of December 31, 2021.

During the six months ended June 30, 2022, the Company also issued 16,950,000 common shares for outside consulting with a fair value of $756,000.

During the six months ended June 30, 2022, the Company also issued 5,015,994 common shares for settlements to Collier Investments, and separately with Richard Kelly Clark, Harald Zink, and Misty Seals with an aggregate fair market value of $282,000. The Company recognized a loss on the issuances of $16,000.

During the six months ended June 30, 2022, the company also issued 16,191,312 common shares in conversion of $266,000 in notes payable.

In June 2022, the Company issued 30,000,000 shares of unregistered restricted common stock to JanOne for the acquisition of Geotraq as discussed in Note 4.

The Company also has the obligation to issue 9,000,000 shares in director compensation, with a fair value of $518,000. These shares have not yet been issued.

Six Months Ended June 30, 2021

During the six months ended June 30, 2021, the Company issued an aggregate of 1,550,000 shares of restricted common stock to employees and directors with a total fair value of $239,000 for services rendered. The shares issued are non-refundable and deemed earned upon issuance. As a result, the Company expensed the entire $239,000 upon issuance. The shares issued were valued at the date earned under the respective agreement based upon closing market price of the Company’s common stock.

During the six months ended June 30, 2021, the Company issued an aggregate of 3,000,000 shares of registered common stock to third party service providers with a total fair value of $371,000. The shares issued are non-refundable and deemed earned upon issuance. As a result, the Company expensed the entire $371,000 upon issuance. The shares issued were valued at the date earned under the respective agreement based upon closing market price of the Company’s common stock.

During the six months ended June 30, 2021, the Company issued an aggregate of 1,242,854 shares of restricted common stock to third party service providers with a total fair value of $100,000. The shares issued are non-refundable and deemed earned upon issuance. As a result, the Company expensed the entire $100,000 upon issuance. The shares issued were valued at the date earned under the respective agreement based upon closing market price of the Company’s common stock.

Options:

The following table summarizes common stock options activity:

	Options		Weighted Average Exercise Price
December 31, 2021		4,379,900	$	0.88
Granted		—		—
Exercised		—		—
Expired		—		—
Outstanding, June 30, 2022		4,379,900	$	0.88
Exercisable, June 30, 2022		4,379,900	$	0.88

The weighted average exercise prices, remaining lives for options granted, and exercisable as of June 30, 2022 were as follows:

	Outstanding Options				Exercisable Options
Options Exercise Price Per Share	Shares		Life (Years)	Weighted Average Exercise Price	Shares	Weighted Average Exercise Price
$0.50		8,000,000	0.42	$0.50	8,000,000	$0.50
$1.00		1,149,900	0.07 – 1.85	$1.00	1,149,900	$1.00
		9,149,900		$0.56	9,149,900	$0.56

At June 30, 2022, the Company’s closing stock price was $0.02 per share. As all outstanding options had an exercise price greater than $0.03 per share, there was no intrinsic value of the options outstanding at June 30, 2022.

Warrants:

The following table summarizes common stock warrants activity:

	Warrants		Weighted Average Exercise Price
Outstanding, December 31, 2021		7,200,000	$	0.39
Granted		—		—
Exercised		—		—
Expired		1,200,000
Cancelled		200,000		—
Outstanding, June 30, 2022		5,800,000	$	0.33
Exercisable, June 30, 2022		5,800,000	$	0.33

The weighted average exercise prices, remaining lives for warrants granted, and exercisable as of June 30, 2022, were as follows:

		Outstanding and Exercisable Warrants
Warrants Exercise Price Per Share		Shares	Life (Years)
$	0.25	3,500,000	3.65
$	0.50	2,300,000	1.28
		5,800,000

Shares Reserved:

At June 30, 2022, the Company has no reserved shares of common stock in connection with convertible notes or warrants.