Stockholders Equity |
12 Months Ended |
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Sep. 30, 2022 | |
Stockholders Equity | |
Stockholders' Equity | 10. Stockholders’ Equity
Preferred Stock
As of September 30, 2022 and 2021, we were authorized to issue a total 1,000,000 shares of preferred stock. There were no shares of Preferred Stock issued or outstanding as of September 30, 2022 and 2021.
Common Stock
As of September 30, 2022 and 2021, we were authorized to issue a total of 125,000,000 shares of common stock. As of September 30, 2022, and 2021, there were 34,505,520 shares of common stock issued and outstanding, respectively.
During the year ended September 30, 2022, the Company did not issue any shares of common stock.
During the year ended September 30, 2021, the Company issued 635,000 shares of restricted common stock to three consultants in exchange for consulting services provided to the Company. The shares were valued at $0.10 per share.
Common Stock to be Issued
As per a vendor agreement entered into in October 2019, the Company paid in January of 2021 235,000 shares as compensation. The Company thereafter accrued 15,000 shares of $1,500 as common stock to be issued per month. As of September 30, 2022, the Company and the vendor have agreed that the total accrued shares of 225,000 valued at $22,500 (including 135,000 shares of $13,500 previously accrued as of September 30, 2021) are not payable and have been reversed. No further share issuances or accruals for the agreement are required.
Dividends
During the years ended September 30, 2022 and 2021, there were no dividends declared or paid.
Common Stock Options
As of September 30, 2022 there were no stock options outstanding or exercisable. As of September 30, 2022 the 525,667 options held by our former chief executive officer and sole director expired unexercised.
As of September 30, 2021, there were fully-vested, non-qualified stock options exercisable by our former chief executive officer and sole director into 525,667 shares of our common stock at an exercise price of $0.15 per share with an expiration date of November 20, 2021.
There were no stock options exercised or issued during the years ended September 30, 2022 and 2021.
A 2018 Equity Incentive Plan consisting of four million (4,000,000) shares of Common Stock was also adopted by written consent of holders of 85% of the voting securities. No options or shares have been issued under this plan as of September 30, 2022 and 2021. |