Stock Options, Warrants and 401(k) Savings Plan

12 Months Ended

Dec. 31, 2021

Compensation Related Costs [Abstract]

Stock Options, Warrants and 401(k) Savings Plan

9. Stock Options, Warrants and 401(k) Savings Plan

Our Company follows FASB ASC 718, Share Based Payment, which requires that the cost resulting from all share-based payment transactions be recognized in the Company’s financial statements. FASB ASC 718 requires all share-based payments to employees, including grants of employee stock options, to be recognized in the statement of comprehensive income based on their fair values.

At December 31, 2021, our Company did not have an active stock option plan. Our Company uses the Black-Scholes option pricing model to calculate the grant-date fair value of an award. There was no compensation expense recognized during the years ended December 31, 2021 and December 31, 2020 and there was no unrecognized portion of expense at December 31, 2021.

At December 31, 2021, our Company had no outstanding warrants to purchase common stock of our Company. A summary of outstanding warrants follows:

			Weighted
		Exercise	Average
	Number of	Price Range	Exercise
	Shares	Per Share	Price
Outstanding at December 31, 2019	691,365	$0.02	$0.02
Warrants exercised	550,000	0.02	0.02
Outstanding at December 31, 2020	141,365	0.02	0.02
Warrants exercised	141,365	0.02	0.02
Outstanding at December 31, 2021	—	0.00	0.00

Our Company sponsors a 401(k) savings plan, covering substantially all employees, providing for employee and employer contributions. Employer contributions are made at the discretion of our Company. There were no contributions charged to expense during 2021 or 2020.