Related Party Transactions

3 Months Ended

Mar. 31, 2022

Related Party Transactions [Abstract]

Related Party Transactions

Note 8. Related Party Transactions

During the three months ended March 31, 2022 and 2021, the Company redeemed 8,750 and 8,750 previously awarded stock options nearing expiration from the Company’s CEO and COO. The redemption eliminated the stock options and resulted in a total of $24,150 and $57,067 in additional compensation expense in 2022 and 2021, respectively.

During the three months ended March 31, 2022 and 2021, the Company issued 2,500 and 2,500 shares of common stock, $0.0001 par value per share (the “Common Stock”), to one member of the Board of Directors for previously awarded stock options at an exercise price of $7,975 and $3,620, respectively.