Stockholders’ Equity

9 Months Ended

Sep. 30, 2021

Equity [Abstract]

Stockholders’ Equity

4. Stockholders’ Equity

Stock-Based Compensation Plans

The following summarizes the stock option activity for the nine months ended September 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		(27,859	)
Outstanding at September 30, 2021		65,217		$	3.29		0.16
Vested and expected to vest at September 30, 2021		65,217		$	3.29		0.16
Exercisable at September 30, 2021		65,217		$	3.29		0.16

The following table summarizes information about options outstanding and exercisable as of September 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		0.12	$	2.71		63,684	$	2.71
	4.20 - 6.68		1,533		1.94		6.68		1,533		6.68
			65,217						65,217

Shares of Common Stock Issued

During the three and nine-month periods ending September 30, 2021, the Company did not issue any shares of common stock. During the three-month period ending September 30,2020, the Company issued a total of 7,066,030 shares of common stock. During the nine -month period ending September 30, 2020, the Company did issued a total of 8,786,667 shares of common stock and 120,000 shares of common stock were to two former members of our board of directors. 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 September 30, 2021 and December 31, 2020, the Company had 248,216 warrants outstanding. The warrants outstanding at September 30, 2021 are all exercisable at $0.01 and have an expiration date of May 20, 2023.