SUBSEQUENT EVENTS

3 Months Ended

Mar. 31, 2024

Disclosure Subsequent Events Abstract

SUBSEQUENT EVENTS

NOTE 10 – SUBSEQUENT EVENTS

Below are events that have occurred since March 31, 2024:

On April 9, 2024, our Board of Directors approved the payment of a compensation bonus in the amount of $175,000 to D. Sean McEwen, our Chairman and CEO, for his contributions in completing the Membership Interest Purchase Agreement with Excess Telecom and in recognition of his prior service during the years ended December 31, 2017, 2018, 2019 and 2021, when his total compensation was $77,386, $12,000, $11,000 and $66,186, respectively. The bonus was paid to Mr. McEwen on April 16, 2024.

On May 8, 2024, Robert Beaty, an independent Board member, conveyed to the Company 7,028 shares of the Company’s common stock at a price of $0.63, in an exempt transaction pursuant to Section 16b-3(c), and in full payment of the exercise of 25,000 incentive stock options granted to him in 2019 at a price of $0.1771 per share, which was 110% of the fair market value of our common stock on the date of such grant.