Capital Structure – Common Stock and Stock Purchase Warrants

3 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Abstract]

Capital Structure – Common Stock and Stock Purchase Warrants

4. Capital Structure – Common Stock and Stock Purchase Warrants

Each holder of common stock is entitled to vote on all matters and is entitled to one vote for each share held. No holder of shares of stock of any class shall be entitled as a matter of right to subscribe for or purchase or receive any part of any new or additional issue of shares of stock of any class, or of securities convertible into shares of stock or any class, whether now hereafter authorized or whether issued for money, for consideration other than money, or by way of dividend.

Stock Warrants

During the three months ended March 31, 2023 and March 31, 2022, no warrants were issued or exercised. There were no modifications to the terms of any warrants issued by the Company during these periods.

The following is a summary of outstanding common stock warrants as of March 31, 2023.

Expiration Date	Number of Shares		Exercise Price		Remaining Life (years)
Second Quarter 2023		1,000	$	200		.25
Third Quarter 2023		1,500	$	100		.50
Third Quarter 2028		3,000	$	70		5.50
Second Quarter 2032		28,995	$	10 - 70		9.25
		34,495	$	10 - 200

Following is a summary of stock warrant activity for the three months ended March 31, 2023:

	Number of Shares			Exercise Price		Weighted Average Price
Warrants as of December 31, 2022		38,495		$	10 - 200	$	59.42
Issued		-		$	-	$	-
Expired and forfeited		(4,000	)	$	30 - 40	$	32.50
Exercised		-		$	-	$	-
Warrants as of March 31, 2023		34,495		$	10 - 200	$	62.54