Stockholders' Equity

6 Months Ended

Jun. 30, 2022

Stockholders' Equity Note [Abstract]

STOCKHOLDERS’ EQUITY

NOTE 6—STOCKHOLDERS’ EQUITY

Common Stock

As of June 30, 2022, the Company was authorized to issue 100,000,000 common shares. As of June 30, 2022 and December 31, 2021, the Company had 84,989,086 common shares issued and outstanding.

Restricted Stock Awards

On December 28, 2021, the Company granted 1,000,000 shares of restricted common stock to its patent attorney. The restricted stock vest over three years, with 250,000 shares vesting immediately on the grant date and 250,000 shares vesting on the next three anniversary dates.

Below is a table summarizing the changes in restricted stock awards outstanding during the six months ended June 30, 2022:

	Restricted Stock Awards		Weighted-Average Exercise Price
Outstanding at December 31, 2021		750,000	$	0.11
Granted		-		-
Vested		-		-
Forfeited		-		-
Outstanding at June 30, 2022		750,000	$	0.11

Stock-based compensation expense of $906 and $12,844 was recorded during the three and six months ended June 30, 2022, respectively. Stock-based compensation expense was $nil during the three and six months ended June 30, 2021.

As of June 30, 2022, the remaining unrecognized stock-based compensation expense related to non-vested restricted stock awards is $68,750 and is expected to be recognized over 2.50 years.