NOTE 4 - EQUITY

6 Months Ended

Jun. 30, 2021

Equity [Abstract]

NOTE 4 - EQUITY

NOTE 4 - EQUITY 

All common stock numbers and exercise prices in this Note are reflected on a post reverse split (5 to 1) basis, which reverse split was effectuated on February 9, 2018.

During the six months ended June 30, 2021, the Company issued 297,673 shares of common stock as settlement of accounts payable to a related party. The value of the shares at the date of issuance was $70,810 resulting in a loss of $8,685.

During the six months ended June 30, 2021, the Company recorded an option expense of $109,874 representing the amortization of the value of the options issued in 2020 that have not yet vested.

During the year ended December 31, 2020, the Company issued 700,000 options. 300,000 options were issued to Chris Ryan, the Chief Financial Officer of the Company, and 400,000 options were issued to Directors of the Company.  The Company recorded an option expense of $267,647 in 2020. $256,574 of this amount relates to the 2018 grant to Mr. Kidrin, the CEO. $11,073 relates to the grant in 2020 to Mr. Ryan, the CFO. The directors’ options were granted on December 31, 2020 and no expense was recorded for these options. The option expense represents the amortization of the value of the options issued in 2020 and 2018 that have not yet vested. The fair market value for Mr. Ryan’s options was calculated using the Black Scholes method assuming a risk free interest of .36%, 0% dividend yield, volatility of 204%, and an exercise price of $0.266 per share with a market price of $0.266 per share at issuance date and an expected life of 5 years. The options vest one year from the date of grant.

During the six months ended June 30, 2020, the Company recorded an option expense of $187,546 representing the amortization of the value of the options issued in 2018 that have not yet vested. 

Stock Warrants and Options
Stock warrants/options outstanding and exercisable on June 30, 2021 are as follows:
	Exercise Price per Share	Shares Under Option/warrant		Remaining Life in Years
Outstanding
$	0.325		3,400,000		0.58
$	0.15		5,220,000		1.25
$	0.15		580,000		1.50
$	0.05		200,000		1.50
$	0.30		200,000		1.50
$	0.25		5,000,000		2.17
$	0.24		800,000		2.17
$	0.27		300,000		4.38
$	0.30		400,000		4.50
Total			16,100,000
Exercisable
$	0.325		3,400,000		0.58
$	0.15		5,220,000		1.25
$	0.15		580,000		1.50
$	0.05		200,000		1.50
$	0.30		200,000		1.50
$	0.25		5,000,000		2.17
$	0.24		800,000		2.17
Total			15,400,000