Note 5 - Common Stock

6 Months Ended

Jun. 30, 2022

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

NOTE 5 – COMMON STOCK

The Company is authorized to issue 75,000,000 shares of its capital stock, consisting of 10,000,000 shares of preferred stock, par value $0.001 per share, and 65,000,000 shares of common stock, par value $0.001 per share.

The Company compensates each of its directors with 4,000 shares of common stock each month. During the six months ended June 30, 2022, the Company recorded stock compensation of $84,000 for directors which was recorded in additional paid in capital, but has not recorded the share compensation as issued and outstanding as of the date hereof

During the six months ended June 30, 2022, the Company recorded stock compensation in the amount of $30,000 for Kelloff Oil & Gas, LLC.

During the six months ended  June 30, 2022, the Company received cash proceeds of $1,761,570 from investor subscriptions to purchase common stock at a purchase price of $1.00 per share recorded as a current liability.