Shareholders’ Equity (Deficit)

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

Shareholders’ Equity (Deficit)

9. Shareholders’ Equity (Deficit)

During three months ended March 31, 2023, the following transactions occurred:

The Company recognized consulting expense of $631,822 to share subscriptions payable from restricted shares and stock options to be issued. As of March 31, 2023, the restricted shares have not been issued.

Refer to notes 16 and 17 for additional shareholders’ equity (deficit).

During three months ended March 31, 2022, the following transactions occurred:

During the three months ended March 31, 2022, the Company issued 10,000 common shares to a consultant for services received valued at $86,000, $66,329 of which was issued from share subscriptions payable. During the same period the Company issued 40,000 common shares for consulting services valued at $86,400.

During the three months ended March 31, 2022, the Company recognized consulting expense of $1,482 to share subscriptions payable from restricted shares issued during the year ended December 31, 2021. As of March 31, 2022, the restricted shares have not been issued.

Refer to note 16 and 17 for additional shareholders’ equity (deficit).

As of March 31, 2023, the Company was authorized to issue 299,000,000 shares of its common stock with a par value of $0.0001. All shares were ranked equally with regard to the Company’s residual assets. During the three months ended March 31, 2023, the Company was authorized to issue 100 shares of its Series A and 100,000 Series B Preferred Stock with a par value of $0.0001. Series A preferred Stock have voting rights equal to 299 shares of common stock, per share of preferred stock. Series B preferred Stock have voting rights equal to 10,000 shares of common stock, per share of preferred stock.