EQUITY

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

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. As a result of the reverse split on February 9, 2018, the Company had to issue an additional 167 shares due to rounding.

During the year ended December 31, 2022, the Company issued 15,900,000 options. Another 900,000 options were re-issued to Directors at a new price and an extended term.

As consideration for the IP in the Asset Purchase Agreement between the Company and Mr. Kidrin, Mr. Kidrin was granted 15,000,000 options at an exercise price of $0.07 per share for three years. The Company recorded an option expense of $751,744. The fair market value for Mr. Kidrin’s options was calculated using the Black Scholes method assuming a risk free interest of 1.35%, 0% dividend yield, volatility of 174%, and an exercise price of $0.07 per share with a market price of $0.07 per share at issuance date and an expected life of 3 years. The options vested on January 18, 2022.

The active directors of the Company received 300,000 options each on January 3, 2022. The options were for service performed during 2019, 2021 and 2022 which were never issued.  The Company recorded an option expense for these options of $31,807 for the year ended December 31, 2022. The fair market value for these options was calculated using the Black Scholes method assuming a risk free interest of 1.37%, 0% dividend yield, volatility of 142%, and an exercise price of $0.05 per share with a market price of $0.05 per share at issuance date and an expected life of 5 years. The options vest six months from the date of grant. 

The active directors of the Company had their existing options repriced and the terms extended another 5 years. The total number of options that were repriced on February 16, 2022 was 900,000. The Company recorded an option expense for these options of $38,444 for the year ended December 31, 2022. The fair market value for these options was calculated using the Black Scholes method assuming a risk free interest of 1.90%, 0% dividend yield, volatility of 153%, and an exercise price of $0.08 per share with a market price of $0.08 per share at issuance date and an expected life of 5 years. The options are all vested upon date of grant.

During the year ended December 31, 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 year ended December 31, 2021, the Company recorded an option expense of $109,874 representing the amortization of the value of the options issued in 2020 that had not yet vested.

During the year ended December 31, 2022, the Company recorded an option expense of $821,995. 

		Stock Warrants and Options
		Stock warrants/options outstanding and exercisable on December 31, 2022 are as follows:
Exercise Price per Share		Shares Under Option/warrant		Remaining Life in Years
Outstanding
$	0.325		3,400,000	0.08
$	0.25		5,000,000	0.74
$	0.24		200,000	0.74
$	0.07		15,000,000	2.05
$	0.27		300,000	2.96
$	0.3		100,000	3.00
$	0.05		900,000	4.01
$	0.08		900,000	4.13
Total			25,800,000
Exercisable
$	0.325		3,400,000	0.08
$	0.25		5,000,000	0.74
$	0.24		200,000	0.74
$	0.07		15,000,000	2.05
$	0.27		300,000	2.96
$	0.3		100,000	3.00
$	0.05		900,000	4.01
$	0.08		900,000	4.13
Total			25,800,000