Annual report pursuant to Section 13 and 15(d)

Common Stock and Equity Payable

v3.22.1
Common Stock and Equity Payable
12 Months Ended
Dec. 31, 2021
Common Stock and Equity Payable [Abstract]  
Common Stock and Equity Payable 8. Common Stock and Equity Payable Common Stock 2020 On March 2, 2020, the Company issued 234,500 shares of common stock in exchange for cash in conjunction with a warrant exercise. The shares were exercised at the strike price of $1.00 per share. On September 17, 2020, the Company issued 15,000 shares of common stock in exchange for cash in conjunction with a stock option exercise. The shares were exercised at the strike price of $0.48 per share. In December of 2020, the Company commenced a private placement of its common stock with warrant exercises for one unit of our common stock at an exercise price of $1.25 per share to receive a new warrant to purchase to one share of our common stock at an exercise price of $2.00 per share. As of December 31, 2020, the Company had sold 2,666,459 units of its common stock for gross proceeds of $3,333,074. In addition, the Company issued 1,113,767 units of its common stock associated with the settlement of $1,200,000 of principal, $192,208 of accrued interest, and a loss on settlement of $668,260 (See Note 6). On December 31, 2021, the Company recorded stock-based compensation expense of $260,003 related to restricted stock units for members of our board of directors. As of December 31, 2020 we had an equity payable balance of $100,862. 2021 During the year ended December 31, 2021, the Company did not issue any shares but, recorded stock-based compensation expense of $260,005 related to restricted stock units for members of our board of directors. The company recorded stock-based compensation expense of $187,501 related to restricted stock units for employee compensation.