Note 9 - Stockholders' Deficit

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

NOTE

9

–

STOCKHOLDERS

'

DEFICIT

Preferred Stock

The Company has authorized

500,000,000

shares of preferred stock with a par value of

$0.001

per share.

No

shares of the preferred stock have been issued.

Twinlab Consolidation Corporation

2013

Stock Incentive Plan

The Twinlab Consolidation Corporation

2013

Stock Incentive Plan (the “TCC Plan”) was originally established with a pool of

20,000,000

shares of common stock for issuance as incentive awards to employees for the purposes of attracting and retaining qualified employees. The Company estimated the grant date fair market value per share of the restricted stock units and amortized the total estimated grant date value over the vesting periods. The restricted stock unit awards vested

25%

each annually on various dates through

2019.

There were

no

outstanding or unvested restricted stock units at

December 31, 2020

or

December 31, 2019.

As of

December 31, 2020,

7,194,412

shares remain available for use in the TCC Plan. 

Stock Subscription Receivable

At

December 31, 2020,

the stock subscription receivable dated

August 1, 2014

for the purchase of

1,528,384

shares of the Company's common stock had a principal balance of

$30

and bears interest at an annual rate of

5%.