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STOCK OPTIONS
3 Months Ended
Mar. 31, 2022
Equity [Abstract]  
STOCK OPTIONS

NOTE 5 – STOCK OPTIONS

 

On February 4, 2022, the Company adjusted the exercise price of the options granted to Mr. Simpson from $0.16 per share to $0.08 per share.

 

On September 24, 2021, the Company extended the expiration date of the options granted to Mr. Simpson from April 6, 2022 to April 6, 2024.

 

During the year ended December 31, 2021, Mr. Simpson exercised options to purchase 187,500 shares of Restricted and Non-Trading shares at $0.16 per share. The total exercise value was $30,000 and this reduced the accrued salary payable to Mr. Simpson to $0.

 

 

The following table summarizes stock option activity:

 

   Issued To  Expiration Date   Days to Expiration   Exercise Price   Options 
Outstanding, December 31, 2021  Glenn Simpson   4/6/2024    827   $0.08    318,108 
Exercisable, March 31, 2022  Glenn Simpson   4/6/2024    737   $0.08    318,108 

 

During the three months ended March 31, 2022 and 2021, compensation expense related to stock options was $0. As of March 31, 2022, there was no unrecognized compensation cost related to non-vested stock options.