Issuances of Securities

6 Months Ended

Jun. 30, 2023

Issuances of Securities

Issuances of Securities

Note 6. Issuances of Securities

Share issuances 2022

During the six months ended June 30, 2022, the Company had the following common stock transactions:

· 184,028 shares of common stock were sold to non-affiliated investors in a private placement for total cash proceeds of $77,292.

· 206,252 shares of commons stock with a fair value of $100,001 were issued to various consultants to settle $63,126 of accrued liabilities resulting in a loss on settlement of debt of $36,875.

· 200,000 shares of common stock with a fair value of $96,000 were issued to consultants for services.

· 425,000 shares of common stock were issued to settle $127,500 of accrued liabilities – related party resulting in a loss of settlement of debt of $76,500.

· 425,000 shares of common stock with a fair value of $204,000 were issued to officers and a former officer of the Company for services.

· 250,000 shares of common stock were cancelled reducing common stock by $250 and increasing additional paid-in capital by the same.

· 20,000 shares of common stock with a fair value of $10,200 were issued for legal services.

Share issuances 2023

                During the six months ended June 30, 2023, the Company had the following common stock transactions:

· 1,204,688 shares of common stock with a fair value of $271,031 were issued to officers and management of the Company to settle $218,250 of accrued liabilities (see Note 3) resulting in a loss on settlement of debt of $52,781.

· 712,500 shares of common stock with a fair value of $153,751 were issued to consultants to settle $126,000 of accrued liabilities resulting in a loss on debt settlement of $27,751.

· 5,385,000 shares of common stock were sold for $1,151,580, net of legal and administrative fees of $6,600 and which included a payment of $50,550 for a subscription receivable, under the Company’s common stock purchase agreement with White Lion. White Lion also purchased 1,100,000 shares for proceeds of $311,820 which were received in July 2023 and is shown as a subscription receivable in the balance sheet as of June 30, 2023.

· 1,850,000 shares of common stock with a fair value of $462,500 were issued to settle litigation (see Note 8).

Restricted stock units

As of June 30, 2023 and December, 31, 2022, the Company has granted a total of 47,665,000 restricted stock units (RSU).  The RSU’s are subject to certain conditions and shall vest upon the achievement of certain Company objectives and milestones. 

Management is unable to predict if or when a Covered Transaction or Triggering Event under the RSU Agreements governing the restricted stock units will occur and as of June 30, 2023, there was $25,313,630 of unrecognized compensation cost related to unvested restricted stock unit awards.  

Activity related to our restricted stock units during the three months ended June 30, 2023 was as follows:

			Weighted
			Average
			Grant
	Number of		Date Fair
	Units		Value
Total awards outstanding at December 31, 2022		47,665,000	$	0.54
Units granted		-	$	-
Units Exercised/Released		-	$	-
Units Cancelled/Forfeited		-	$	-
Total awards outstanding at June 30, 2023		47,665,000	$	0.54