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Stockholders’ Deficit
9 Months Ended
Sep. 30, 2022
Equity [Abstract]  
Stockholders’ Deficit

11. Stockholders’ Deficit

 

Common Stock

 

On January 25, 2022, the Company issued to Antilles Family Office, LLC 5,602,192 shares of its common stock under a conversion notice. The conversion was for $40 in principal. The shares were valued at $0.007 per share for a total value of $39,215. The Company recognized a loss of extinguishment of debt of $39,175 on this conversion.

 

On February 17, 2022, the Company issued to Antilles Family Office, LLC 4,201,644 shares of its common stock under a conversion notice. The conversion was for $30 in principal. The shares were valued at $0.0075 per share for a total value of $31,512. The Company recognized a loss of extinguishment of debt of $31,482 on this conversion.

 

On March 2, 2022, the Company issued to Antilles Family Office, LLC 4,901,918 shares of its common stock under a conversion notice. The conversion was for $35 in principal. The shares were valued at $0.0063 per share for a total value of $30,882. The Company recognized a loss of extinguishment of debt of $30,847 on this conversion.

 

On March 18, 2022, the Company issued to Antilles Family Office, LLC 5,041,973 shares of its common stock under a conversion notice. The conversion was for $36 in principal. The shares were valued at $0.0045 per share for a total value of $22,689. The Company recognized a loss of extinguishment of debt of $22,653 on this conversion.

 

On April 5, 2022, the Company issued to Antilles Family Office, LLC 4,341,699 shares of its common stock under a conversion notice. The conversion was for $31 in principal. The shares were valued at $0.0046 per share for a total value of $19,972. The Company recognized a loss of extinguishment of debt of $19,941 on this conversion.

 

On April 18, 2022, the Company issued to Antilles Family Office, LLC 4,481,753 shares of its common stock under a conversion notice. The conversion was for $32 in principal. The shares were valued at $0.0035 per share for a total value of $15,686. The Company recognized a loss of extinguishment of debt of $15,654 on this conversion.

 

On April 25, 2022, the Company issued to Antilles Family Office, LLC 4,761,863 shares of its common stock under a conversion notice. The conversion was for $34 in principal. The shares were valued at $0.0037 per share for a total value of $17,619. The Company recognized a loss of extinguishment of debt of $17,585 on this conversion.

 

On May 20, 2022, the Company issued to Antilles Family Office, LLC 5,041,973 shares of its common stock under a conversion notice. The conversion was for $36 in principal. The shares were valued at $0.0029 per share for a total value of $14,622. The Company recognized a loss of extinguishment of debt of $14,586 on this conversion.

 

On June 2, 2022, the Company issued to Antilles Family Office, LLC 5,322,082 shares of its common stock under a conversion notice. The conversion was for $38 in principal. The shares were valued at $0.0026 per share for a total value of $13,837. The Company recognized a loss of extinguishment of debt of $13,799 on this conversion.

 

On June 13, 2022, the Company issued to Antilles Family Office, LLC 5,602,192 shares of its common stock under a conversion notice. The conversion was for $40 in principal. The shares were valued at $0.0025 per share for a total value of $14,005. The Company recognized a loss of extinguishment of debt of $13,965 on this conversion.

 

On June 17, 2022, the Company issued to Antilles Family Office, LLC 6,302,466 shares of its common stock under a conversion notice. The conversion was for $45 in principal. The shares were valued at $0.0014 per share for a total value of $8,823. The Company recognized a loss of extinguishment of debt of $8,778 on this conversion.

 

 

On June 23, 2022, the Company issued to Antilles Family Office, LLC 8,403,288 shares of its common stock under a conversion notice. The conversion was for $60 in principal. The shares were valued at $0.002 per share for a total value of $16,807. The Company recognized a loss of extinguishment of debt of $16,747 on this conversion.

 

On June 28, 2022, the Company issued to Antilles Family Office, LLC 8,823,452 shares of its common stock under a conversion notice. The conversion was for $63 in principal. The shares were valued at $0.0014 per share for a total value of $12,353. The Company recognized a loss of extinguishment of debt of $12,290 on this conversion.

 

On July 8, 2022, the Company issued to Antilles Family Office, LLC 9,383,671 shares of its common stock under a conversion notice. The conversion was for $67 in principal. The shares were valued at $0.0015 per share for a total value of $14,076. The Company recognized a loss of extinguishment of debt of $14,009 on this conversion.

 

Warrants

 

The following tables summarize the warrant activity during the nine months ended September 30, 2022 and the year ended December 31, 2021:

 

Stock Warrants  Number of Warrants   Weighted Average Exercise Price 
Balance at December 31, 2020   9,550,000   $0.50 
Granted   -    - 
Exercised   -    - 
Forfeited   -    - 
Balance at December 31, 2021   9,550,000    0.50 
Granted   -    - 
Exercised   -    - 
Forfeited   (9,350,000)   0.50 
Balance at September 30, 2022   200,000   $0.75 

 

2022 Outstanding Warrants   Warrants Exercisable 
Range of Exercise Price   Number Outstanding at September 30, 2022   Weighted Average Remaining Contractual Life   Weighted Average Exercise Price   Number Exercisable at September 30, 2022   Weighted Average Exercise Price 
$0.75    200,000    0.84   $0.75    200,000   $0.75