STOCKHOLDERS’ EQUITY

3 Months Ended

Mar. 31, 2022

Equity [Abstract]

STOCKHOLDERS’ EQUITY

6. STOCKHOLDERS’ EQUITY

Preferred Stock

During the three months ended March 31, 2022, the Company paid $7,500 for Series D preferred stock dividends. Dividends of $7,500 were declared during the three months ended March 31, 2021. All quarterly dividends previously declared have been paid.

Common Stock

For the three months ended March 31, 2022, the Company did not issue nor did it pay dividends on common stock.

Common Stock Warrants

As of March 31, 2022, and December 31, 2021, the Company had 206,000 and 206,000, respectively, of outstanding warrants to purchase common stock at a weighted average exercise price of $5.00 and $5.00, respectively, and weighted average remaining term of 0.19 years and 0.93 years, respectively. The aggregate intrinsic value of common stock warrants outstanding as of March 31, 2022, and December 31, 2021 was $360,052 and $360,052, respectively. Activity for the three months ended March 31, 2022, related to common stock warrants is as follows:

	March 31, 2022
	Number of		Weighted Average
	Warrants		Exercise Price
Beginning Balance		206,000	$	5
Exercised		-		-
Expired		-		-
Ending Balance		206,000	$	5