Stockholders’ Equity

6 Months Ended

Jun. 30, 2021

Equity [Abstract]

Stockholders’ Equity

4. Stockholders’ Equity

Stock-Based Compensation Plans

The following summarizes the stock option activity for the six months ended June 30, 2021.

						Weighted-
						Average
				Weighted-		Remaining
				Average		Contractual
				Exercise		Life
	Options			Price		(Years)
Outstanding at December 31, 2020		93,076		$	3.03		0.74
Granted		-
Forfeited/cancelled		(14,526	)
Outstanding at June 30, 2021		78,550		$	3.45		0.38
Vested and expected to vest at June 30, 2021		78,550		$	3.45		0.38
Exercisable at June 30, 2021		78,550		$	3.45		0.38

The following table summarizes information about options outstanding and exercisable as of June 30, 2021.

	Options Outstanding						Options Exercisable
					Weighted-				Weighted-
Range of			Average		Average				Average
Exercise	Number		Remaining		Exercise		Number		Exercise
Price	of Shares		Life (Years)		Price		of Shares		Price
$ 2.00 - 4.00		63,684		0.37	$	3.21		63,684	$	3.21
4.20 - 6.68		14,866		0.40		4.46		14,866		4.46
		78,550						78,550

Shares of Common Stock Issued

During the three and six-month periods ending June 30, 2021, the Company did not issue any shares of common stock. During the three and six -month period ending June 30, 2020, respectively, the Company issued a 0 and 120,000 shares of common stocks. The issuance of the common stock was for the two former members of our board of directors that was previously committed to them and included in accrued expenses. The issuance of the 120,000 shares of common stock settles a total of $39,600 of accrued expenses that was included in the Company’s balance sheet.

Warrants

As of June 30, 2021 and December 31, 2020, the Company had 248,216 warrants outstanding. The warrants outstanding at June 30, 2021 are all exercisable at $0.01 and have an expiration date of May 20, 2023.