NOTE 7 – WARRANTS

3 Months Ended

Jun. 30, 2023

Note 7 Warrants

NOTE 7 – WARRANTS

NOTE 7 – WARRANTS

On October 15, 2020, the Company entered into a service agreement with a third party for a term of six months. Per the terms of the agreement the party was granted 40,000 warrants to purchase shares of common stock. The warrant vested on April 15, 2021. The warrants have an exercise price $0.25 and expire in three years. The aggregate fair value of the warrants totaled $180,000 based on the Black Scholes Merton pricing model using the following estimates: stock price of $4.50, exercise price of $0.25, 1.57% risk free rate, 735.46% volatility and expected life of the warrants of 3 years.

A summary of the status of the Company’s outstanding stock warrants and changes during the year is presented below:

	Number of Warrants		Weighted Average Price		Weighted Average Fair Value		Aggregate Intrinsic Value
Outstanding, March 31, 2023		40,000	$	0.25	$	0.18	$	—
Issued		—	$	—	$	—		—
Exercised		—	$	—	$	—		—
Expired		—	$	—	$	—		—
Exercisable, June 30, 2023		40,000	$	0.25	$	0.18	$	—

Range of Exercise Prices		Number Outstanding 6/30/2023		Weighted Average Remaining Contractual Life		Weighted Average Exercise Price
	$0.25		40,000		.29 years		$0.25

The aggregate intrinsic value represents the total pretax intrinsic value, based on warrants with an exercise price less than the Company’s stock price as of June 30, 2023, which would have been received by the warrant holder had the warrant holder exercised their warrants as of that date.