Common Stock

6 Months Ended

Jun. 30, 2022

Common Stock

4. Common Stock

4.

Common Stock. We have 300,000,000 shares of voting common shares authorized for issuance. As of June 30, 2022, a total of 162,740,264 shares of common stock were either issued (144,379,308), or reserved for conversion of convertible debt to stock (17,358,339), held for future exercise of stock options (550,000) and shares reserved for warrant conversion (452,617). We also have $27,400,000 outstanding in convertibles notes which are convertible into shares of common stock upon and at a conversion price equal to 80% of the offering price of any public offering if the Company’s common stock is listed on a national exchange.

We have not paid any dividends to our common stock shareholders to date, and have no plans to do so in the immediate future.