Stockholders' Equity

3 Months Ended

Mar. 31, 2021

Equity [Abstract]

Stockholders' Equity

NOTE 8 – STOCKHOLDERS’ EQUITY

Common Stock

The Company has not issued any common stock through March 31, 2021, nor for the year ended December 31, 2020.

Stock Compensation

The Company offers stock option equity awards to directors and key employees. Options vest in tranches and expire in five (5) years. For the three months ended March 31, 2021, and 2020, the Company recorded vested options expense of $31,344 and $10,257, respectively. The option expense not taken as of March 31, 2021, is $21,087, with a weighted average term of 2.2 years.

The following table represents stock option activity as of and for the three months ended March 31, 2021:

	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Life		Aggregate Intrinsic Value
Options Outstanding – December 31, 2020		3,800,000	$	.21		3.6	$	—
Granted		50,000		.42		4.9		—
Exercised		—		—		—		—
Forfeited		175,000		—		—		—
Options Outstanding – March 31, 2021		3,675,000	$	0.21		4.0	$	—
Exercisable and Vested, March 31, 2021		3,475,000	$	0.21		2.2	$	—