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Capital Stock, Stock Options, And Incentives
12 Months Ended
Dec. 31, 2019
Capital Stock Stock Options And Incentives  
Capital Stock, Stock Options, And Incentives

NOTE 8. CAPITAL STOCK, STOCK OPTIONS, AND INCENTIVES

 

PREFERRED STOCK

Preferred stock, Series "B", $0.001 par value, 10,000,000 shares authorized, no shares issued and outstanding as of December 31, 2019 and December 31, 2018. The Company’s Board of Directors shall determine the rights, preferences, privileges and restrictions of the preferred stock, including dividends rights, conversion rights, voting rights, terms of redemption, liquidation preferences, sinking fund terms and the number of shares constituting any series or the designation of any series.

COMMON STOCK

Common stock, $0.001 par value, 50,000,000 shares authorized, 5,658,123 and 5,658,123 shares issued and outstanding as of December 31, 2019 and December 31, 2018, respectively.

On August 15, 2017, the Company granted 34,000 shares of restricted common stock to one employee for services. The restricted common stock granted to the employee was valued at $33,660 and will vest as follows: 33% of the shares on January 1, 2018, an additional 33% of the shares on January 1, 2019, and the remaining 34% of the shares on January 1, 2020. The share-based compensation will be amortized ratably over the three year vesting period. The Company recorded share-based compensation of $14,177 and $14,177 for the years ended December 31, 2019 and 2018, respectively.