WARRANTS

12 Months Ended

Dec. 31, 2022

Warrants

WARRANTS

6. WARRANTS

A summary of warrants to purchase common stock issued during the year ended December 31, 2022 and the nine months ended December 31, 2021 is as follows:

	Shares		Weighted Average Exercise Price
Balance outstanding at March 31, 2021		146,668	$	3.00
Granted		500,000		0.32
Exercised		-		-
Expired		-		-
Balance outstanding at December 31, 2021		646,668	$	1.08
Granted		21,666,667		0.60
Exercised		-		-
Expired		-		-
Balance outstanding and exercisable at December 31, 2022		22,313,335	$	0.61

At December 31, 2022, the 22,313,335 outstanding stock warrants had no intrinsic value and at December 31, 2021, the 646,668 outstanding stock warrants had no intrinsic value.