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INCENTIVE STOCK PLANS AND STOCK BASED COMPENSATION
6 Months Ended
Jun. 30, 2021
Commitments and contingencies  
NOTE 11 - INCENTIVE STOCK PLANS AND STOCK BASED COMPENSATION

NOTE 11 – INCENTIVE STOCK PLANS AND STOCK BASED COMPENSATION

 

The Company’s 2021 Equity Incentive Plan (the “Plan”) Incentive Stock Option Plan covers 500,000 shares of the Company’s common stock (subject to adjustment in the case of merger, consolidation, reorganization, recapitalization, stock split, reverse stock split, split up, spin-off, combination of shares, exchange of shares, stock dividend, dividend in kind, etc.) and was approved by shareholders on May 27, 2021. The Plan provides for the grant of the following equity-based incentive awards to participants: (i) non-qualified stock options, (ii) stock appreciation rights, (iii) restricted stock, (iv) restricted stock units and (v) other stock-based awards. As of June 30, 2021 there have been no stock awards granted under the Plan. Through the date of this filing, there have been 44,250 non-qualified stock options granted and 48,000 restricted stock grants under the plan, of which none were vested and exercisable.