Capital Stock

3 Months Ended

Jun. 30, 2020

Stockholders' Equity Note [Abstract]

Capital Stock

NOTE 12 – CAPITAL STOCK

During the three month period ended June 30, 2020, we issued 1,204,683 shares of common stock as follows:

● 1,000,000 shares were sold to investors for $1,750,000

● 60,607 shares were issued to investors for exercised warrants valued for $121,214

● 279 shares were issued for cashless exercise of 1,967 warrants

● 8,336 shares were issued for services provided to the Company value at $13,188

● 180,916 shares valued at $255,300 were issued to employees, members of the Board of Directors, and members of the Advisory Committee as compensation

At June 30, 2020, we recorded a stock subscription receivable of $1,840,910 for 1,000,000 shares of Common Stock sold to an Investor for $1,750,000 or $1.75 per share and 45,455 shares issued to investors for exercised warrants at $2.00 per share for $90,910.

At June 30, 2020, outstanding and exercisable stock purchase warrants consisted of the following:

	Number of Shares			Weighted Averaged Exercise Price		Weighted Average Life Remaining (Years)
Outstanding at March 31, 2020		8,504,372		$	2.10		3.60
Granted		-			-		-
Exercised		(62,574	)		2.00		-
Forfeited or cancelled		-			-		-
Outstanding at June 30, 2020		8,441,798		$	2.10		3.32
Exercisable at June 30, 2020		8,441,798		$	2.10		3.32

As of June 30, 2020, we had 8,441,798 warrants outstanding. Each warrant provides the holder the right to purchase up to one share of our Common Stock at a predetermined exercise price. The outstanding warrants consist of (1) warrants to purchase 966,494 shares of Common Stock at an exercise price of $1.65 per share until April 2025; (2) warrants to purchase 4,579,171 shares of our Common Stock at an exercise price of $2.00 per share over the next three to five years; and (3) warrants to purchase 2,896,133 shares of Common Stock at an exercise price of $2.40 over the next five years.