EQUITY

3 Months Ended

Mar. 31, 2023

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, which reverse split was effectuated on February 9, 2018.

During the three months ended March 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 $15,205 for the three months ended March 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 $38,713 for the three months ended March 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.

No options were issued during the three months ended March 31, 2023. 

		Stock Warrants and Options
		Stock warrants/options outstanding and exercisable on March 31, 2023 are as follows
Exercise Price per Share		Shares Under Option/warrant		Remaining Life in Years
Outstanding
$	0.25		5,000,000	0.49
$	0.24		200,000	0.49
$	0.07		15,000,000	1.80
$	0.27		300,000	2.71
$	0.3		100,000	2.75
$	0.05		900,000	3.76
$	0.08		900,000	3.88
Total			22,400,000
Exercisable
$	0.25		5,000,000	0.49
$	0.24		200,000	0.49
$	0.07		15,000,000	1.80
$	0.27		300,000	2.71
$	0.3		100,000	2.75
$	0.05		900,000	3.76
$	0.08		900,000	3.88
Total			22,400,000